MIRA INFORM REPORT

Report No. :	344710
Report Date :	12.10.2015

IDENTIFICATION DETAILS

Name :	PREMIER ALLOYS AND CHEMICALS PRIVATE LIMITED
Registered Office :	F-19/B, I D A, Jeedimetla, Secunderabad – 500055, Telangana
Tel. No.:	91-40-23095128
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.06.1988
Com. Reg. No.:	36-008762
Capital Investment / Paid-up Capital :	Rs. 19.500 Million
CIN No.: [Company Identification No.]	U27109TG1988PTC008762
IEC No.:	0988001934
TAN No.: [Tax Deduction & Collection Account No.]	HYDP01178C
PAN No.: [Permanent Account No.]	AABCP2285J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of noble ferro alloys, like ferro molybdenum, ferro vanadium pentoxide and ammonium meta vanadate.
No. of Employees :	More than 100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (60)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavorable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 649000
Status :	Good
Payment Behavior :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 1988 and it is a manufacturer, exporter and importer of Ferro Molybdenum, Ferro Vanadium and other Vanadium Chemicals. For the financial year ended 2014, company has reported 11.94% sales turnover growth as compared to previous sales turnover and it is has maintained satisfactory profitability margins at 2.47% during the year under a review. Rating reflects company’s well established track record of business operations marked by its healthy financial profile along with adequate networth base and sound debt protection indicators of the company. Tarde relations are reported as fair. Payments are reported to be regular and as per commitment. 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

NOT AVAILABLE

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Someshwar Rao
Designation :	Accounts General Manager Finance
Contact No.:	91-40-23715884
Date :	09.10.2015

LOCATIONS

Registered Office/ Factory :	F-19/B, I D A, Jeedimetla, Secunderabad – 500055, Telangana, India
Tel. No.:	91-40-23095128
Fax No.:	91-40-23097123
E-Mail :	premier@pacpl.com
Website :	http://www.premieralloys.in
Branch Office :	320, Bhanu Enclave, Sanjeev Reddy Nagar, Hyderabad – 500038, Telangana, India

DIRECTORS

AS ON 29.09.2014

Name :

Mrs. Gauri Shankar Marda

Designation :

Managing Director

Address :

1-89/3/18, Phase - II, Kavuri Hills, Near Madhapur, Hyderabad - 500033, Telangana, India

Date of Birth/Age :

01.02.1953

ACQPM1199L

Date of Appointment :

15.06.1988

DIN No.:

00254841

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	U27109TG1988PTC008762	PREMIER ALLOYS AND CHEMICALS PRIVATE LIMITED	Managing director	15/06/1988	15/06/1988	-	Active	NO
2	U45200TG2005NPL045814	HYDERABAD PHARMA INFRASTRUCTURE AND TECHNOLOGIES	Director	17/10/2005	17/10/2005	-	Active	NO
3	U41000TG1987PLC007137	JEEDIMETLA EFFLUENT TREATMENT LIMITED	Director	31/12/2010	16/09/2006	-	Active	NO
4	U40300TG2013FTC086744	NUEVO RENEWABLE POWER PRIVATE LIMITED	Director	02/04/2013	02/04/2013	17/09/2013	Active	NO
5	U40101TG2014PTC094154	FREYR ENERGY SERVICES PRIVATE LIMITED	Director	01/06/2014	01/06/2014	-	Active	NO

Name :

Mr. Ravi Shankar Marda

Designation :

Director

Address :

10, Rukmini Devi Colony, Part - II, West Marredpally, Near AOC Centre, Secunderabad - 500026, Telangana, India

Date of Birth/Age :

17.10.1954

PAN No :

ABIPM9005E

Date of Appointment :

01.05.2002

DIN No.:

00254543

Name :

Mr. Shashi Kala Marda

Designation :

Director

Address :

1705, Musket Circle, Upper Holland Pa - 19053, United States of America

Date of Birth/Age :

20.09.1952

Date of Appointment :

03.06.2005

DIN No.:

00610379

Name :

Mrs. Shweta Marda

Designation :

Director

Address :

210 Daulton Court, Langhorne, Pennsylvania - 19047, United States of America

Date of Birth/Age :

09.09.1980

Date of Appointment :

29.09.2014

DIN No.:

06804560

KEY EXECUTIVES

Name :	Mr. Someshwar Rao
Designation :	Accounts General Manager Finance
Name :	Mr. Ravi Shankar Marda
Designation :	Company Secretary
Address :	No. 10, Rukhmini Devi Colony, Part - II, AOC Centre, West Maredpally, Secunderabad - 500026, Telangana, India
PAN No :	ABIPM9005E
Date of Appointment :	01.05.2002

MAJOR SHAREHOLDERS

AS ON 29.09.2014

Names of Shareholders	No. of Shares
Gauri Shankar Marda	43940
Kusum Marda	4030
Premlata Marda	12990
Shashikala Marda	59280
Prerna Marda	2600
Anup Marda	42900
Ravi Shankar Marda	10206
Sharada Devi Marda	10
Rajeshwari Marda	19044
Total	195000

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of noble ferro alloys, like ferro molybdenum, ferro vanadium pentoxide and ammonium meta vanadate.

Products :

Item Code No.	Product Description
72029200	Ferro Vanadium
72027000	Ferro Molybdenum
28253090	Vanadium Pentoxide
28253090	Ammonium Meta Vanadate

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

• European Countries
• Japan

Imports :

Products :

Raw Material

Countries :

• European Countries

Terms :

Selling :

Cash, L/C and Credit

Purchasing :

Cash, L/C and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
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 :	Not Divulged
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 :

More than 100 (Approximately)

Bankers :

Bank Name	State Bank of Hyderabad
Branch	Shapurnagar Branch, IDA Jeedimetla, Hyderabad – 500055, Telangana, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Cash/Credit : Rs. 200.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• HDFC Bank Limited, Balanagar, Hyderabad, Telangana, India (Facilities : Cash/Credit : Rs. 60.000 Million)

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Working capital loans from banks	89.823	225.059
Other loans and advances	1.919	2.184
Total	91.742	227.243

Auditors :
Name :	P.D. Rao and Company Chartered Accountants
Address :	10-3-337/9, (305/2RT), Street No. 3, Vijayanagar Colony, Hyderabad – 500057, Andhra Pradesh, India
PAN. No.:	ACUPP7476M
Memberships :	-----
Collaborators :	-----
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
195000	Equity Shares	Rs.100/- each	Rs. 19.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
195000	Equity Shares	Rs.100/- each	Rs. 19.500 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	19.500	19.500	19.500
(b) Reserves & Surplus	207.509	173.742	162.281
(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)	227.009	193.242	181.781
(3) Non-Current Liabilities
(a) long-term borrowings	7.528	7.376	6.656
(b) Deferred tax liabilities (Net)	0.353	0.000	0.628
(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)	7.881	7.376	7.284
(4) Current Liabilities
(a) Short term borrowings	91.742	227.243	177.290
(b) Trade payables	1.744	1.824	1.029
(c) Other current liabilities	11.268	9.485	8.210
(d) Short-term provisions	2.289	2.768	2.032
Total Current Liabilities (4)	107.043	241.320	188.561
TOTAL	341.933	441.938	377.626
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	24.290	28.607	28.366
(ii) Intangible Assets	0.000	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	0.307	0.308	0.308
(c) Deferred tax assets (net)	0.000	2.391	0.000
(d) Long-term Loan and Advances	5.997	10.974	6.197
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	30.594	42.280	34.871
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	122.214	151.291	114.918
(c) Trade receivables	176.320	199.007	183.228
(d) Cash and cash equivalents	0.436	0.205	0.283
(e) Short-term loans and advances	12.369	49.155	44.326
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	311.339	399.658	342.755
TOTAL	341.933	441.938	377.626

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Turnover (Net of Excise)	1363.043	1217.633	1154.597
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES	NA	NA	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	72.935	34.884	39.700
Less	INTEREST	12.972	11.781	8.974
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	59.963	23.103	30.726
Less/ Add	DEPRECIATION/ AMORTISATION	6.299	6.465	5.532
	PROFIT/ (LOSS) BEFORE TAX	53.664	16.638	25.194
Less	TAX	19.897	5.177	9.575
	PROFIT/ (LOSS) AFTER TAX	33.767	11.461	15.619
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	120.770	109.309	93.689
	Balance Carried to the B/S	154.537	120.770	109.309
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	86.672	104.221	129.246
	TOTAL EARNINGS	86.672	104.221	129.246
	Earnings / (Loss) Per Share (Rs.)	173.16	58.77	80.09

Particulars	31.03.2015
Sales Turnover (Approximately)	1900.000

The above information has been parted by Mr. Someshwar Rao (Accounts General Manager Finance).

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	31.096	24.533	24.171

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Turnover (Net of Excise)	(%)	2.48	0.94	1.35
Operating Profit Margin (PBIDT/ Turnover (Net of Excise)	(%)	5.35	2.86	3.44
Return on Total Assets (PBT/Total Assets}	(%)	15.71	3.79	6.68
Return on Investment (ROI) (PBT/Networth)		0.24	0.09	0.14
Debt Equity Ratio (Total Debt /Networth)		0.44	1.21	1.01
Current Ratio (Current Asset/Current Liability)		2.91	1.66	1.82

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	19.500	19.500	19.500
Reserves & Surplus	162.281	173.742	207.509
Net worth	181.781	193.242	227.009
long-term borrowings	6.656	7.376	7.528
Short term borrowings	177.290	227.243	91.742
Total borrowings	183.946	234.619	99.270
Debt/Equity ratio	1.012	1.214	0.437

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)
Turnover (Net of Excise)	1154.597	1217.633	1363.043
		5.460	11.942

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Turnover (Net of Excise)	1154.597	1217.633	1363.043
Profit	15.619	11.461	33.767
	1.35%	0.94%	2.48%

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	No
18	Major suppliers	No
19	Major customers	No
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	No
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

PERFORMANCE:

Turnover for the year had increased by about 11%, whereas the profit before tax increased by over 200% during the Year when compared to last year. Increase in Turnover was mainly on account of higher volumes and prices of Ferro Vanadium, although there was decrease in quantities and average selling price of Ferro Molybdenum, as compared to previous year. The demand for the Company’s products are good and the prices in the 1st two months had been going upward. We hope the Current Year would continue to see the increase in momentum of prices and better demand for company’s product, which would result in better profitability.

The Export turnover during the current year was about the same at Rs. 84.025 Million compared to Rs. 82.456 Million in the previous year. Focus was shifted from bulk export to actual user, as reduction in export incentives by Government reduced the economics of exports during the year. The Company is closely monitoring the prices in both international and domestic market to take appropriate action depending on the market scenario in such a way so as to improve profitability of the Company.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term borrowing
Loans and advances from directors	1.565	2.200
Loans and advances from others	5.963	5.176
Total	7.528	7.376

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10077305	16/08/2011 *	60,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (West), MUMBAI - 400013, Maharashtra, INDIA	B19714856
2	90133452	08/11/2012 *	207,190,000.00	STATE BANK OF HYDERABAD	SHAPURNAGAR BRANCH, IDA JEEDIMETLA, HYDERABAD - 500055, ANDHRA PRADESH, INDIA	B63260764

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and Equipment
• Other Pollution Reduction Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment

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. 64.78
UK Pound	1	Rs. 99.54
Euro	1	Rs. 73.08

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	SANS

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
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		60

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 unfavorable 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.