MIRA INFORM REPORT

Report No. :	344133
Report Date :	07.10.2015

IDENTIFICATION DETAILS

Name :	STEAMLINE INDUSTRIES LIMITED (w.e.f. 10.12.1997)
Formerly Known As :	STEAMLINE INDUSTRIES PRIVATE LIMITED
Registered Office :	901/904, Jagadamba Commercial Complex, A/2, Near Movie Time Theater, Link Road, Malad (West), Mumbai-400064, Maharashtra
Tel. No.:	91-22-40999700
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	13.08.1991
Com. Reg. No.:	11-062917
Capital Investment / Paid-up Capital :	Rs. 180.000 Million
CIN No.: [Company Identification No.]	U51900MH1991PLC062917
IEC No.:	0391169751
TAN No.: [Tax Deduction & Collection Account No.]	MUMS49270E
PAN No.: [Permanent Account No.]	AAACS7421C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	· Manufacturer of Stainless steel seamless welded pipes. · Trader and exporter of pharmaceuticals products.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an old private limited company incorporated in the year 1991. It is having satisfactory track. Rating takes into consideration sound financial risk profile of the company marked by adequate networth base along with comfortable level in FY 2014. Management has reported decent growth in revenue base, whereas reported drastic decline in its net profit in FY2014. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for normal business dealings with 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 rating BB
Rating Explanation	Inadequate credit quality and high credit risk.
Date	March, 2015

Rating Agency Name	ICRA
Rating	Short term rating A4
Rating Explanation	Minimal degree of safety and very high 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 PARTED BY

Name :	Mr. Ramgopal
Designation :	Accountant
Contact No.:	91-22-40999700

LOCATIONS

Registered Office :	901/904, Jagadamba Commercial Complex, A/2, Near Movie Time Theater, Link Road, Malad (West), Mumbai-400064, Maharashtra, India
Tel. No.:	91-22-40999700
Fax No.:	91-22-40999777
E-Mail :	info@steamlineind.com
Website :	www.stemlineind.com
Location :	Owned
Locality :	Commercial
Branch Office :	178/26, Chatrabhuj Khetshi Bulding, Sant Tukaram Road, Masjid Bunder, Mumbai-400009, Maharashtra, India
Location :	Owned
Locality :	Commercial
Factory :	Survey No.265/3/4/8/82 and 13, Taluka Prantij Dist. Sabarkartha, Nananpur-373210, Gujarat, India
Location :	Owned
Locality :	Industrial

DIRECTORS

As on 26.09.2014

Name :

Mr. Surendra Madan Sharma

Designation :

Managing Director

Address :

D-1302, 13th Floor, Vikas Park,, Mith Chowky, Linking Road, Malad West, Mumbai-400064, Maharashtra, India

Date of Birth/Age :

30.07.1962

Date of Appointment :

10.12.2007

PAN No.:

AAOPS2561E

DIN No.:

00495259

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	U51900MH1991PLC062917	STEAMLINE INDUSTRIES LIMITED	Managing director	10/12/2007	01/06/1992	-	Active	NO
2	U65921MH1995PTC084863	TRIVENI SAFETY MATCHES PRIVATE LIMITED	Director	15/05/2001	15/05/2001	22/03/2013	Active	NO
3	U27000MH2006PTC159131	ASA PRODUCTION AND ENTERPRISES PRIVATE LIMITED	Managing director	15/01/2007	20/01/2006	04/03/2009	Active	NO
4	U67190MH2006PTC160268	SIL PRODUCTION AND ENTERPRISES PRIVATE LIMITED	Director	06/03/2006	06/03/2006	-	Active	NO
5	U51420MH2008PTC183536	STEAMLINE STEEL AND ENERGY PRIVATE LIMITED	Director	16/06/2008	16/06/2008	24/05/2014	Active	NO
6	U45202MH2009PTC191139	STEAMLINE INFRAPROJECTS PRIVATE LIMITED	Director	23/03/2009	23/03/2009	-	Active	NO
7	U74990MH2009PTC191416	SIL RETAILS PRIVATE LIMITED	Director	02/04/2009	02/04/2009	-	Active	NO
8	U74140MH2009PTC191476	Five S Consultancy and Enterprises Private Limited	Director	03/04/2009	03/04/2009	20/03/2013	Active	NO
9	U67200MH2006PTC160887	Pilani Consultancy AND Finvest Private Limited	Director	08/08/2009	08/08/2009	10/03/2013	Active	NO
10	U11200DL2005PTC178724	NAFTO GAZ INDIA PRIVATE LIMITED	Additional director	17/01/2011	17/01/2011	15/02/2011	Active	NO
11	U70109DL2006PTC150483	SUN INFRABUILD PRIVATE LIMITED	Director	01/08/2011	01/06/2011	-	Active	NO
12	U70109DL2013PTC252248	MOON LANDPROP PRIVATE LIMITED	Director	18/05/2013	18/05/2013	22/05/2014	Active	NO

Name :

Mr. Virendra Madan Mohan Sharma

Designation :

Director

Address :

A-102, Mansarovar, Near Chincholi Phatak,, S.V. Road, Malad (W),, Mumbai-400064, Maharashtra, India

Date of Birth/Age :

21.10.1967

Date of Appointment :

13.08.1991

PAN No.:

AAOPS2562H

DIN No.:

00495219

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	U51900MH1991PLC062917	STEAMLINE INDUSTRIES LIMITED	Director	13/08/1991	13/08/1991	-	Active	NO
2	U65921MH1995PTC084863	TRIVENI SAFETY MATCHES PRIVATE LIMITED	Director	15/05/2001	15/05/2001	06/05/2013	Active	NO
3	U51420MH2008PTC183536	STEAMLINE STEEL AND ENERGY PRIVATE LIMITED	Director	16/06/2008	16/06/2008	15/04/2013	Active	NO
4	U45202MH2009PTC191139	STEAMLINE INFRAPROJECTS PRIVATE LIMITED	Director	23/03/2009	23/03/2009	12/02/2013	Active	NO
5	U74900MH2009PTC195461	STEAMLINE TECHNOCRATES PRIVATE LIMITED	Director	03/09/2009	03/09/2009	12/10/2013	Active	NO

Name :

Mr. Jitendra Madan Mohan Sharma

Designation :

Director

Address :

A-102, Mansarovar, Near Chincholi Phatak,, S.V. Road, Malad (W), Mumbai- 400064, Maharashtra, India

Date of Birth/Age :

14.06.1968

Date of Appointment :

13.08.1991

PAN No.:

AAKPS1428E

DIN No.:

00547084

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	U51900MH1991PLC062917	STEAMLINE INDUSTRIES LIMITED	Director	13/08/1991	13/08/1991	-	Active	NO
2	U74140MH2009PTC192352	DSJ Consultancy and Enterprises Private Limited	Director	13/05/2009	13/05/2009	-	Active	NO
3	U74900MH2009PTC195461	STEAMLINE TECHNOCRATES PRIVATE LIMITED	Director	03/09/2009	03/09/2009	12/10/2013	Active	NO
4	U45202MH2009PTC191139	STEAMLINE INFRAPROJECTS PRIVATE LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO

Name :

Mr. Devendra Madan Mohan Sharma

Designation :

Director

Address :

A-102, Mansarovar, Near Chincholi Phatak,, S.V. Road, Malad (W), Mumbai- 400064, Maharashtra, India

Date of Birth/Age :

13.11.1975

Date of Appointment :

01.02.2003

PAN No.:

AAKPS1302B

DIN No.:

00495376

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	U65921MH1995PTC084863	TRIVENI SAFETY MATCHES PRIVATE LIMITED	Director	01/01/2003	01/01/2003	04/02/2013	Active	NO
2	U51900MH1991PLC062917	STEAMLINE INDUSTRIES LIMITED	Director	01/02/2003	01/02/2003	-	Active	NO
3	U74140MH2009PTC192859	SLD Consultancy and Enterprises Private Limited	Director	01/06/2009	01/06/2009	-	Active	NO
4	U45202MH2009PTC191139	STEAMLINE INFRAPROJECTS PRIVATE LIMITED	Director	01/10/2009	01/10/2009	04/02/2013	Active	NO

Name :

Mrs. Seema Rajaram Parab

Designation :

Director

Address :

Sudam Bhuvan , 3rd Floor, Room No. 39, Dr. Ambedkar Road, Lalbaug, Mumbai-400012, Maharashtra, India

Date of Birth/Age :

29.02.1976

Date of Appointment :

01.04.2006

DIN No.:

01408166

Name :

Mr. Rajneesh Mahajan

Designation :

Director

Address :

202, Totem Banjara, Near Lakshmi Hyundai Service, Road No.14, Banjarahills, Hyderabad-500034, Telangana, India

Date of Appointment :

01.10.2009

DIN No.:

01711781

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	U13209TG2006PLC049727	KINETA GLOBAL LIMITED	Director	30/09/2008	18/02/2008	18/10/2011	Active	NO
2	U51900MH1991PLC062917	STEAMLINE INDUSTRIES LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO
3	U45202MH2009PTC191139	STEAMLINE INFRAPROJECTS PRIVATE LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO

Name :

Mr. Sandeep Pramod Mankame

Designation :

Director

Address :

24 06, Pandurangwadi Goregaon East, Mumbai-400063, Maharashtra, India

Date of Birth/Age :

11.06.1963

Date of Appointment :

02.04.2007

DIN No.:

02577493

Name :

Tarak Kavi Prafullchandra

Designation :

Director

Address :

10, Jalbindu Society, Near Bhaduat Nagar, Post Ghodasar, Maninagar, Ahmedabad, 380050, Gujarat, INDIA

Date of Birth/Age :

22.08.1966

Date of Appointment :

15.01.2012

DIN No.:

05189454

KEY EXECUTIVES

Name :	Mr. Ramgopal
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2014

Names of Shareholders	No. of Shares
Virendra Madan Mohan Sharma	3478500
Jitendra Madan Mohan Sharma	3537000
Rajshree Sharma	125100
Devendra Madan Mohan Sharma	3665000
Surendra Madan Sharma	3571400
Pushpa Sharma	221500
Anuradha Sharma	158000
Devendra Madan Mohan Sharma HUF	42500
Surendra Madan Sharma HUF	53500
Virendra Madan Mohan Sharma HUF	50000
Jitendra Madan Mohan Sharma HUF	55000
Pritanka Sharma	42500
DSJ Consultancy and Enterprises Private Limited	1000000
MMS Consultancy and Finvest Private Limited	1000000
Treveni Consultancy and Financial Services Private Limited	1000000
Total	18000000

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others
Bodies corporate	16.67
Directors or relatives of Directors	83.33
Total	100.00

BUSINESS DETAILS

Line of Business :

· Manufacturer of Stainless steel seamless welded pipes.

· Trader and exporter of pharmaceuticals products.

Products :

Item Code No.	Product Description
99640000	Transport Services
99612800	Steel and Hardwear, Commission, Pharmaceutical, Service Charges

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished goods

Countries :

· USA

· Germany

· England

· Italy

Imports :

Products :

Raw Material

Countries :

China

Terms :

Selling :

L/C, Cheque, Credit (30 Days)

Purchasing :

L/C, Cheque, Credit (30 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Foshan MFY Stainless Steel Company Limited, China
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 :

Wholesalers, Retailers and End Users

Reference :	Merit Brass, UK
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 :

200 (Approximately)

Bankers :

Bank Name	Oriental Bank of Commerce
Branch	Fort Branch, Jash Chambers, Gr Floor, Sir P. M Road, Fort, Mumbai - 400001, Maharashtra, 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)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from banks	198.127	191.499
Term loans from others	4.906	0.000
Short-term borrowings
Term loans from banks	94.945	9.796
Term loans from others	1.224	0.073
Working capital loans from banks	250.069	240.606
Total	549.271	441.974

Financial Institution :

GE Capital Transportation Financial Services Limited, Aifacs Building, 1, Rafi Marg, , New Delhi - 110001, Delhi, India

Auditors :
Name :	More and More Chartered Accountants
Address :	223m Dimple Arcadem Commercial Complexm Asha Nagar Behind Saidham Temple, Kandivali (East), Mumbai, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAEFM6583E
Memberships :	--
Collaborators :	--
Associates:	· SIL Production and Enterprises Private Limited CIN No.: U67190MH2006PTC160268 · MMS Consultancy and Finvest Private Limited CIN No.: U67110MH2006PTC160294 · Triveni Consultancy and Financial Services Private Limited CIN No.: U74140MH2006PTC160049 · Steamline Infraprojects Private Limited CIN No.: U45202MH2009PTC191139 · Steamline Steel and Energy Private Limited CIN No.: U51420MH2008PTC183536 · Pilani Consultancy and Finvest Private Limited CIN No.: U67200MH2006PTC160887 · DSJ Consultancy and Enterprises Private Limited CIN No.: U74140MH2009PTC192352 · Five S Consultancy and Enterprises Private Limited CIN No.: U74140MH2009PTC191476 · SLD Consultancy and Enterprises Private Limited CIN No.: U74140MH2009PTC192859 · SIL Retails Private Limited CIN No.: U74990MH2009PTC191416
Subsidiary company :	AL-Asdeqaa Lab Engg. Equ.Fze.

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000,000	Equity Shares	Rs.10/- each	Rs. 200.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18,000,000	Equity Shares	Rs.10/- each	Rs. 180.000 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	180.000	120.000	80.000
(b) Reserves & Surplus	269.783	273.279	210.772
(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)	449.783	393.279	290.772
(3) Non-Current Liabilities
(a) long-term borrowings	203.033	191.499	7.281
(b) Deferred tax liabilities (Net)	42.445	15.990	18.527
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	245.478	207.489	25.808
(4) Current Liabilities
(a) Short term borrowings	620.338	375.550	404.913
(b) Trade payables	1155.909	147.450	303.430
(c) Other current liabilities	28.117	14.974	10.953
(d) Short-term provisions	16.420	41.626	25.729
Total Current Liabilities (4)	1820.784	579.600	745.025
TOTAL	2516.045	1180.368	1061.605
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	530.52	130.479	148.742
(ii) Intangible Assets	1.013	1.281	1.521
(iii) Capital work-in-progress	46.906	284.380	20.827
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.948	1.948	1.948
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.869	0.142	0.642
(e) Other Non-current assets	5.653	0.708	0.257
Total Non-Current Assets	586.909	418.938	173.937
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	208.549	8.277	21.703
(c) Trade receivables	1474.183	594.621	526.590
(d) Cash and cash equivalents	60.383	12.199	274.177
(e) Short-term loans and advances	184.082	145.463	61.921
(f) Other current assets	1.939	0.870	3.277
Total Current Assets	1929.136	761.430	887.668
TOTAL	2516.045	1180.368	1061.605

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	2697.474	2541.580	3052.349
		Other Income	17.160	29.215	25.687
		TOTAL (A)	2714.634	2570.795	3078.036
Less	EXPENSES
		Cost of Materials Consumed	572.620	0.000	0.000
		Purchases of Stock-in-Trade	2042.270	2144.442	2631.667
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(188.908)	13.579	16.623
		Employees benefits expense	55.233	51.803	50.895
		Other expenses	98.909	72.132	92.187
		TOTAL (B)	2580.124	2281.956	2791.372
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		134.510	288.839	286.664
Less	FINANCIAL EXPENSES (D)		53.792	136.242	131.459
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		80.718	152.597	155.205
Less/ Add	DEPRECIATION/ AMORTISATION (F)		39.049	27.544	27.570
	PROFIT BEFORE TAX (E-F) (G)		41.669	125.053	127.635
Less	TAX (H)		35.219	42.892	41.496
	PROFIT AFTER TAX (G-H) (I)		6.450	82.161	86.139
	Earnings Per Share (Rs.)		0.39	8.80	12.65

Particulars	31.03.2015
Sales Turnover (Approximately)	3500.000
	Market fluctuation

Expected Sales (2015-20160 : Rs. 4000.000 Million

The above information has been parted by Mr. Ramgopal (Accountant)

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 flows from (used in) operation	(27.265)	(154.705)	137.493

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.24	3.23	2.82
Operating Profit Margin (PBIDT/Sales)	(%)	4.99	11.36	9.39
Return on Total Assets (PBT/Total Assets}	(%)	1.69	13.99	12.29
Return on Investment (ROI) (PBT/Networth)		0.09	0.32	0.44
Debt Equity Ratio (Total Debt /Networth)		1.83	1.44	1.42
Current Ratio (Current Asset/Current Liability)		1.06	1.31	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 Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	80.000	120.000	180.000
Reserves & Surplus	210.772	273.279	269.783
Net worth	290.772	393.279	449.783
long-term borrowings	7.281	191.499	203.033
Short term borrowings	404.913	375.550	620.338
Total borrowings	412.194	567.049	823.371
Debt/Equity ratio	1.418	1.442	1.831

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	3052.349	2541.580	2697.474
		(16.734)	6.134

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	3052.349	2541.580	2697.474
Profit	86.139	82.161	6.450
	2.82%	3.23%	0.24%

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	Yes
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)	Yes
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	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 four years	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	Yes
29]	Profitability for last three years	Yes
30]	Major shareholders, if available	Yes
31]	External Agency Rating, if available	Yes
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

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Intercorporate borrowings	148.850	99.750
Loans and advances from related parties	125.250	25.325
Total	274.100	125.075

PERFORMANCE OF THE COMPANY

In the year, the Company has recorded a total Income of Rs.2570.796 Million (Previous year Rs. 3078.037 Million). The total Income decreased by 16%, This is mainly for industrial activity subdued because of lack of new investment and existing projects remaining stalled by bottlenecks and implementation gaps. Main customers put their expansion under abeyance and differed the capex spending.

The Company could manage to retain its relative profit around the same level inspite of drop in the total revenue. The profit after tax marginally decreased to Rs. 125.053 Million against the previous year figure of Rs. 127.635 Million registering a decrease of 2%. The retaining profitability made possible mainly due to better product mix, cost optimization and efficient working capital management.

The Company has successfully completed the Pipe manufacturing project at Himmatnagar, Ahmedabad and has already commenced the commercial operations to the satisfactory level. The Management is confident to restore to past revenue level generated from own manufacturing and core trading of goods and services.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10507271	01/04/2014	13,500,000.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	C10030666
2	10479210	31/01/2014	6,232,250.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	B97053284
3	10453996	26/08/2013	1,200,000.00	Oriental Bank of Commerce	Fort Branch, Jash Chambers, Ground Floor, Sir P.  M Road, Fort, Mumbai, Maharashtra - 400001, INDIA	B87080289
4	10454000	26/08/2013	684,000.00	Oriental Bank of Commerce	Fort Branch, Jash Chambers, Ground Floor, Sir P.M Road, Fort, Mumbai, Maharashtra - 400001, INDIA	B87081030
5	10394695	03/12/2012	240,000,000.00	Oriental Bank of Commerce	Fort Branch, Jash Chambers, Ground Floor, Sir P.M Road, Fort, Mumbai, Maharashtra - 400001, INDIA	B65070195
6	10394751	15/09/2014 *	1,022,500,000.00	Oriental Bank of Commerce	Large Corporate Branch, 14th Floor, Maker Tower,, F Wing, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA	C22521785
7	10221604	15/09/2014 *	1,022,500,000.00	Oriental Bank of Commerce	Large Corporate Branch, 14th Floor, Maker Tower,, F Wing, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA	C22524896
8	80015378	15/09/2014 *	782,500,000.00	Oriental Bank of Commerce	Large Corporate Branch, 14th Floor, Maker Tower,, F Wing, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA	C22517460

* Date of charge modification

FIXED ASSETS

• Land
• Building
• Plant and machinery
• Computer
• Office equipment
• Furniture and fixture

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 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.65.29
UK Pound	1	Rs.99.05
Euro	1	Rs.73.19

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	KIN
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.