MIRA INFORM REPORT

Report No. :	341488
Report Date :	23.09.2015

IDENTIFICATION DETAILS

Name :	JINDAL ALUMINIUM LIMITED
Registered Office :	Jindal Nagar, Tumkur Road, Bangalore – 560073, Karnataka
Tel. No.:	91-80-23715555
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.07.1970
Com. Reg. No.:	08-002806
Capital Investment / Paid-up Capital :	Rs. 510.000 Million
CIN No.: [Company Identification No.]	U27203KA1970PLC002806 (New) U85110KA1975PLC002806 (Old)
IEC No.:	0788004549
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACJ4324M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in manufacturing of aluminium extrusion profiles and sells to various end-user industries, such as the aircraft, atomic energy, space, defence, electronics, furniture, transport, and the air-conditioning industries.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (67)

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 23300000
Status :	Good
Payment Behavior :	Regular
Litigation :	Exist
Comments :	Subject was set up in 1970 by Dr. S R Jindal. It is the flagship company of the Jindal group of industries a renewed industrial house in India. It is a well-established and reputed company having fine track record. Management has reported dip in its profit during FY2014. However, financial position of the company is strong. Overall fundamentals of the company is sound and healthy. The rating also takes into consideration company’s established market position in the aluminium extrusion industry, diverse product portfolio and geographical presence. Trade relations are reported as trustworthy. Business is active. Payment terms are reported to be regular and as per commitments. The company can be considered good for normal business dealing at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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	CRISIL
Rating	Long Term Rating: AA-
Rating Explanation	Have high degree of safety and carry very low credit risk.
Date	31.03.2015

Rating Agency Name	CRISIL
Rating	Short Term Rating: A1+
Rating Explanation	Have very strong degree of safety and carry lowest credit risk.
Date	31.03.2015

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 (GENGERAL DETAILS)

Name :	Mr. Sampat
Designation :	Import Department
Contact No.:	91-80-23715555
Date :	18.09.2015

LOCATIONS

Registered Office/ Factory :	Jindal Nagar, Tumkur Road, Bangalore – 560 073, Karnataka, India
Tel. No.:	91-80-23715555 (6 Lines)
Fax No.:	91-80-23713333
E-Mail :	jalsec@jindalaluminium.com jalmkt@jindalaluminium.com jalexport@jindalaluminium.com aluminium.jindal@gems.vsnl.net.in jindal@bgl.vsnl.net.in
Website :	www.jindalaluminium.com
Branch Office 1 :	Office No.508, 5^th Floor, The Capital Building, Opposite ICICI Bank Gate-1, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India
Tel. No.:	91-22-66745555/ 56/ 57
Fax No.:	91-22-66745558
E-Mail :	jalmumbai@jindalaluminium.com
Branch Office :	Also located at : · Ahmedabad · Kochi · New Delhi · Chennai · Pune · Coimbatore

DIRECTORS

AS ON 22.08.2014

Name :

Mr. Bajrang Dass Garg

Designation :

Whole-time Director

Address :

Jindal Nagar, Tumkur Road, Bangalore – 560073, Karnataka, India

Date of Birth/Age :

24.09.1955

Qualification :

B.Com

Date of Appointment :

05.09.2011

PAN No.:

AAQPG0587Q

DIN No.:

00008059

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	U08022KA2002NPL030879	PRAGUN JINDAL PHILANTHROPIC ORGANISATION	Director	12/08/2002	12/08/2002	-	Active	NO
2	U27104KA2003PLC031567	JINDAL NATURECARE LIMITED	Director	09/08/2006	09/08/2006	-	Active	NO
3	U14200KA2008PLC045891	DAKSHIN MINES AND MINERALS LIMITED	Director	02/04/2008	02/04/2008	31/12/2010	Amalgamated	NO
4	U28121MH2011PLC219872	JINDAL ALUMINIUM ROLLING LIMITED	Director	18/07/2011	18/07/2011	-	Active	NO
5	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Whole-time director	05/09/2011	09/08/2011	-	Active	NO

Name :

Mr. Krishnaswamy Iyengar Ramaswamy Iyengar Raghunath

Designation :

Whole-time Director

Address :

1202, Shantala Rajajinagar, 2^nd Stage, Bangalore – 560073, Karnataka, India

Date of Birth/Age :

23.02.1945

Qualification :

BE

Date of Appointment :

09.08.2011

PAN No.:

AALPR6079B

DIN No.:

00009992

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	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Whole-time director	09/08/2011	28/08/1996	-	Active	NO
2	U08022KA2002NPL030879	PRAGUN JINDAL PHILANTHROPIC ORGANISATION	Director	04/07/2005	04/07/2005	25/11/2008	Active	NO
3	U28121MH2011PLC219872	JINDAL ALUMINIUM ROLLING LIMITED	Director	18/07/2011	18/07/2011	-	Active	NO
4	U74900KA2015PLC080751	JINDAL ENVIRO TECHNOLOGY LIMITED	Director	05/06/2015	05/06/2015	-	Active	NO

Name :

Mrs. Vaidehi Kanoria

Designation :

Director

Address :

A-45, Vasant Marg, Vasant Vihar, New Delhi – 110026, India

Date of Birth/Age :

27.10.1983

Date of Appointment :

01.11.2007

PAN No.:

AHPPK1434N

DIN No.:

00013028

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	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Director	01/11/2007	23/07/2002	-	Active	NO
2	U27100MH2004PTC147855	ASHA ALLOYS PRIVATE LIMITED	Director	05/08/2004	05/08/2004	21/03/2009	Active	NO
3	U24110AP2009PTC081665	MINERVA FLAVOURS AND FRAGRANCES PRIVATE LIMITED	Director	29/10/2010	29/10/2010	24/03/2011	Active	NO
4	U23209DL1974PLC029068	KPL INTERNATIONAL LIMITED	Director	10/09/2015	31/03/2015	-	Active	NO

Name :

Mr. Dharam Pal Jindal

Designation :

Director

Address :

B-57 Greater Kailash, Part - I, New Delhi – 110048, India

Date of Birth/Age :

15.02.1950

Date of Appointment :

22.08.2014

DIN No.:

00405579

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	L27201MH1983PLC233813	JINDAL DRILLING AND INDUSTRIES LIMITED	Director	31/03/2015	17/10/1983	-	Active	NO
2	L99999MH1988PLC080545	MAHARASHTRA SEAMLESS LIMITED(TRANSFERRED FROM DELHI TO MAH	Whole-time director	01/04/2015	10/05/1988	-	Active	NO
3	U29120DL1970PLC005281	JINDAL PIPES LIMITED	Director	01/09/1995	01/09/1995	-	Not Available for eFiling	NO
4	U27101UP1970PLC020637	JINDAL PIPES LIMITED	Director	07/11/2012	01/09/1995	-	Active	NO
5	U08022KA2002NPL030879	PRAGUN JINDAL PHILANTHROPIC ORGANISATION	Director	28/05/2004	28/05/2004	25/11/2008	Active	NO
6	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Director	22/08/2014	16/08/2005	-	Active	NO
7	U65993WB1994PLC152481	JINDAL GLOBAL FINANCE AND INVESTMENT LIMITED	Director	30/08/2008	23/05/2008	20/01/2015	Active	NO
8	U14200KA2008PLC045891	DAKSHIN MINES AND MINERALS LIMITED	Director	29/09/2009	07/08/2008	17/08/2010	Amalgamated	NO
9	U51109WB1994PLC065299	CRISHPARK VINCOM LTD.	Director	24/09/2009	25/11/2008	20/01/2015	Active	NO
10	U74999WB1995PTC154565	NEPTUNE BUILDTECH PRIVATE LIMITED	Director	28/09/2010	09/06/2010	30/12/2010	Active	NO
11	L15492WB1916PLC002697	Dhunseri Petrochem Limited	Director	14/08/2014	02/05/2012	-	Active	NO
12	L01132AS1977PLC001706	WARREN TEA LIMITED	Director	28/04/2014	09/07/2013	29/05/2014	Active	NO

Name :

Mr. Pratik Pravin Agarwal

Designation :

Director

Address :

403-A, 3^rd Floor, Samudra Mahal, A-Wing, Opposite Lotus, Dr. A.B. Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

02.12.1982

Date of Appointment :

22.07.2013

PAN No.:

ADYPA7745D

DIN No.:

03040062

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	U40102DL2007PLC158625	EAST-NORTH INTERCONNECTION COMPANY LIMITED	Director	20/09/2010	31/03/2010	11/04/2012	Active	NO
2	U35100TN2011PTC079116	PARADIP MULTI CARGO BERTH PRIVATE LIMITED	Director	25/06/2012	07/03/2011	-	Active	NO
3	U35100TN2010PTC075408	VIZAG GENERAL CARGO BERTH PRIVATE LIMITED	Director	23/07/2011	28/03/2011	-	Active	NO
4	U40104PN2010PLC135953	STERLITE GRID 1 LIMITED	Director	27/09/2011	28/03/2011	16/07/2014	Active	NO
5	U40108DL2009PLC194057	JABALPUR TRANSMISSION COMPANY LIMITED	Director	27/09/2011	31/03/2011	11/04/2012	Active	NO
6	U40102DL2009PLC194071	BHOPAL DHULE TRANSMISSION COMPANY LIMITED	Director	27/09/2011	31/03/2011	11/04/2012	Active	NO
7	U32202DN2011PLC000373	SPEEDON NETWORK LIMITED	Director	11/07/2011	11/07/2011	-	Active	NO
8	U28113TN2010PLC083718	STERLITE INFRAVENTURES LIMITED	Director	07/07/2012	19/07/2011	-	Active	NO
9	U40109TN2010PLC084216	STERLITE PORTS LIMITED	Director	07/07/2012	19/07/2011	-	Active	NO
10	U08022KA2002NPL030879	PRAGUN JINDAL PHILANTHROPIC ORGANISATION	Director	25/07/2013	28/03/2013	-	Active	NO
11	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Director	22/07/2013	18/04/2013	-	Active	NO
12	L31300DN2000PLC000340	STERLITE TECHNOLOGIES LIMITED	Director	06/08/2013	26/04/2013	-	Active	NO
13	U61200TN2013PTC091762	MARITIME VENTURES PRIVATE LIMITED	Director	20/06/2013	20/06/2013	-	Active	NO
14	U74999MH2005PLC153211	STERLITE GRID 2 LIMITED	ADDITIONAL DIRECTOR	22/01/2014	22/01/2014	16/07/2014	Active	NO
15	U33120DN2014PLC000454	STERLITE POWER GRID VENTURES LIMITED	Director	03/06/2014	03/06/2014	-	Active	NO

Name :

Mr. Pragun Jindal Khaitan

Designation :

Managing Director

Address :

Sterling Apartments, Plot No.14/B, 7^th Floor, 38G Deshmukh Marg, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

09.08.1992

Date of Appointment :

21.09.2013

PAN No.:

BSWPK6241C

DIN No.:

03181533

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	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Managing director	21/09/2013	09/08/2010	-	Active	NO
2	U27104KA2003PLC031567	JINDAL NATURECARE LIMITED	Director	22/07/2013	19/02/2013	-	Active	NO
3	U08022KA2002NPL030879	PRAGUN JINDAL PHILANTHROPIC ORGANISATION	Director	25/07/2013	29/04/2013	-	Active	NO
4	U74140KA2015PTC080385	JINDAL WEALTH MANAGEMENT PRIVATE LIMITED	Director	15/05/2015	15/05/2015	-	Active	NO
5	U74900KA2015PLC080751	JINDAL ENVIRO TECHNOLOGY LIMITED	Director	05/06/2015	05/06/2015	-	Active	NO

KEY EXECUTIVES

Name :	Kulithalai Srinivasan Suresh
Designation :	Secretary
Address :	Jindal Aluminium Limited, Tumkur Road, Bangalore – 560 073, Karnataka, India
Date of Appointment :	26.12.2014
PAN No.:	AALPS4432K
Name :	Mr. Rajesh Kumar Soni
Designation :	Chief Financial Officer
Address :	Jindal Nagar, Tumkur Road, Bangalore – 560 073, Karnataka, India
Date of Appointment :	25.08.2014
PAN No.:	AIOPS0431K
Name :	Mr. Sampat
Designation :	Import Department

MAJOR SHAREHOLDERS

AS ON 22.08.2014

Note: SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 22.08.2014

Category	Percentage
Bodies corporate	21.41
Directors or relatives of Directors	53.91
Other top fifty shareholders	24.68
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacturing of aluminium extrusion profiles and sells to various end-user industries, such as the aircraft, atomic energy, space, defence, electronics, furniture, transport, and the air-conditioning industries.

Products :

Item Code No.	Product Description
76042990	Aluminium Extruded Profiles

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

• Canada
• United Arab Emirates
• Sri Lanka
• United States

Imports :

Products :

Raw Material

Countries :

• Australia
• United Arab Emirates
• Singapore

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	National Aluminium Company Limited, Bangalore
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 :

End Users

Reference :	Dynamatic Technologies Limited, Bangalore
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 :

1000 (Approximately)

Bankers :

Bank Name	Standard Chartered Bank
Branch	No.112, Serenity, 5^th Block, Koramangala Industrial Area, Bangalore – 560095, Karnataka, 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

· Kotak Mahindra Bank Limited, 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India

· Yes Bank Limited, Prestige Obelisk, Kasturba Road, Bangalore – 560 001, Karnataka, India

· Abu Dhabi Commercial Bank Limited, 28 Ground Floor Citi Centre, Church Street, Bangalore – 560 001, Karnataka, India

· Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India

· Axis Bank Limited, Indian Express Building, No.1, Queens Road, Bangalore – 560 001, Karnataka, India

· RBL Bank Limited, Shahupuri, Kolhapur, Kolhapur – 416 001, Maharashtra, India

· IndusInd Bank Limited, Ground Floor, Centenary Building, No.28, M.G. Road, Bangalore – 560 001, Karnataka, India

· IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India

· Canara Bank, Industrial Finance Branch, No.83, Richmond Road, Bangalore – 560 025, Karnataka, India

· ICICI Bank Limited, ICICI Bank Tower, No.1, Commissariate Road, Bangalore – 560 025, Karnataka, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG-TERM BORROWINGS
Rupee term loans from banks (Secured by charge on the specific movable and immovable properties Purchased out of the term loans.)	1878.947	2142.872
SHORT-TERM BORROWINGS
Rupee term loans from banks	877.062	717.751
Term loans from others (Cash credit and short term loan/working capital demand loan, packing credit and buyers credit in foreign currency secured by hypothecation of inventories and book debts of the company)	1664.871	963.591
Total	4420.880	3824.214

Financial Institution :	Tata Capital Financial Services Limited, One Forbes, Dr. V.B. Gandhi Marg, Fort, Mumbai – 400 001, Maharashtra, India
Auditors :
Name :	S.V. Surana and Company Chartered Accountants
Address :	4705, 7^th Floor, High Point 1V 45 Palace Road, Bangalore – 560001, Karnataka, India
PAN. No.:	ABIPS1056R
Memberships :	-----
Collaborators :	-----
Subsidiary Company:	Jindal Aluminium Rolling Limited (U28121MH2011PLC219872)
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Drugless Health Care (India) Limited CN (U27104KA2003PLC031567)

CAPITAL STRUCTURE

AS ON 22.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
11000000	Equity Shares	Rs.100/- each	Rs. 1100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10200000	Equity Shares	Rs.10/- each	Rs. 1020.000 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5100000	Equity Shares	Rs.100/- each	Rs. 510.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5100000	Equity Shares	Rs.10/- each	Rs. 510.000 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	510.000	510.000	510.000
(b) Reserves & Surplus	7646.591	7645.248	7522.038
(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)	8156.591	8155.248	8032.038
(3) Non-Current Liabilities
(a) long-term borrowings	1878.947	2142.872	1324.974
(b) Deferred tax liabilities (Net)	201.785	117.342	10.400
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	14.549	16.130	18.372
Total Non-current Liabilities (3)	2095.281	2276.344	1353.746
(4) Current Liabilities
(a) Short term borrowings	3257.114	1760.336	524.421
(b) Trade payables	176.230	212.858	110.945
(c) Other current liabilities	503.346	376.889	487.046
(d) Short-term provisions	8.777	155.472	64.329
Total Current Liabilities (4)	3945.467	2505.555	1186.741
TOTAL	14197.339	12937.147	10572.525
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9063.317	8011.178	5524.023
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	70.959	607.088	970.013
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	607.299	714.580	1321.022
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	2.451	2.451	578.044
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	9744.026	9335.297	8393.102
(2) Current assets
(a) Current investments	511.305	533.351	0.143
(b) Inventories	1239.875	1158.000	326.908
(c) Trade receivables	1287.357	676.273	456.505
(d) Cash and cash equivalents	47.765	143.250	612.788
(e) Short-term loans and advances	1325.902	1038.677	0.000
(f) Other current assets	41.109	52.299	783.079
Total Current Assets	4453.313	3601.850	2179.423
TOTAL	14197.339	12937.147	10572.525

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	12622.951	8999.197	8128.112
	Other Income	233.738	270.747	333.147
	TOTAL	12856.689	9269.944	8461.259
Less	EXPENSES
	Cost of Materials Consumed	9445.670	7128.922	5974.778
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(149.192)	(619.892)	(47.379)
	expenditure on production, transportation and other expenditure pertaining to E and P activates	8.713	8.613	0.000
	Employees benefits expense	477.982	393.061	271.042
	Other expenses	1850.929	1196.334	1321.566
	TOTAL	11634.102	8107.038	7520.007
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1222.587	1162.906	941.252
Less	FINANCIAL EXPENSES	448.251	136.059	34.128
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	774.336	1026.847	907.124
Less/ Add	DEPRECIATION/ AMORTISATION	320.789	108.915	54.071
	PROFIT/ (LOSS) BEFORE TAX	453.547	917.932	853.053
Less	TAX	175.453	274.823	171.207
	PROFIT/ (LOSS) AFTER TAX	278.094	643.109	681.846
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	1013.973	710.106	774.753
	TOTAL EARNINGS	1013.973	710.106	774.753
	Earnings / (Loss) Per Share (Rs.)	54.53	126.10	133.70

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	237.994	585.330	1413.933

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.20	7.15	8.39
Operating Profit Margin (PBIDT/Sales)	(%)	9.69	12.92	11.58
Return on Total Assets (PBT/Total Assets}	(%)	3.35	7.90	10.30
Return on Investment (ROI) (PBT/Networth)		0.06	0.11	0.11
Debt Equity Ratio (Total Debt /Networth)		0.63	0.48	0.23
Current Ratio (Current Asset/Current Liability)		1.13	1.44	1.84

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	510.000	510.000	510.000
Reserves & Surplus	7522.038	7645.248	7646.591
Net worth	8032.038	8155.248	8156.591
long-term borrowings	1324.974	2142.872	1878.947
Short term borrowings	524.421	1760.336	3257.114
Total borrowings	1849.395	3903.208	5136.061
Debt/Equity ratio	0.230	0.479	0.630

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	8128.112	8999.197	12622.951
		10.717	40.268

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	8128.112	8999.197	12622.951
Profit	681.846	643.109	278.094
	8.39%	7.15%	2.20%

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 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	Yes
32	Litigations that the firm/promoter involved in	Yes
33	Market information	---
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS:

ITA (INCOME TAX APPEAL) CASE NO.: 23 CASE YEAR: 2013

HIGH COURT OF KARNATAKA – PRINCIPAL BENCH AT BANGALORE

ITA 23/2013

CASE PENDING

PETITIONER/ APPNT. NAME:	THE COMMISSIONER OF INCOME TAX
RESPONDENT/ DEFNT. NAME:	JINDAL ALUMINIUM LIMITED
PETNR/APPNT. ADVOCATE	K.V. ARAVIND
DATE FILED:	15.01.2013
DISTRICT:	BANGALORE CITY

STAGE:	HEARING LAST POSTED FOR ADMISSION
Last Action Taken	ADMIT/RULE Last Date of Action 03.06.2013 Next Hearing Date
Last Order:	LIST A/W ITA 5/11
Before Hon’ble Judge/s	D.V. SHYLEDRA KUMAR

OPERATIONS

The Company achieved a production of 53692.00 MT of Aluminium Extrusions during the year, as against 50267.78 MT produced last year. The prices of aluminium declined during the year leading to corresponding decrease in selling price of aluminum extrusions produced by the company. The gross revenue of the company has increased to Rs.14279.500 Million from s. Rs.10250.600 Million of last year. The Company’s profit before depreciation has come down to Rs.774.300 Million as compared to Rs. 1026.800 Million in the last year mainly due to financial costs, power, fuel and discounts.

The Rolling Mill Division has been commissioned during the year 2012-13. In the first year, production of aluminium sheets and foils started late in October 2012 and it took some time to establish. The company achieved a production of 19195 MT of aluminum sheets and foils for the year ended 31st March, 2014. Due to teething troubles, as usual there was some loss during the year ended 31st March, 2014.

The Wind Energy Division generated 28470248 kWh (net) of energy, out of which 11432822 kWh were used for captive consumption at our Bangalore factory and 17037426 kWh were sold to BESCOM.

The Company has also commissioned a 10 MW Solar Power plant in Karnataka which started exporting power to the Grid in June, 2013.The Solar Power Plant has generated 14911128 kWh (net) of energy which was sold to BESCOM.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT-TERM BORROWINGS
Loans repayable on demand from others	327.500	2.500
Public Deposits	0.000	40.220
Loans and advance from related parties	387.681	36.274
Total	715.181	78.994

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10590090	11/08/2015	300,000,000.00	HDFC BANK LIMITED	EMERGING CORPORATES GROUP, 8/24, SALCO CENTER, RICHMOND ROAD, BANGALORE - 560025, KARNATAKA, INDIA	C63512933
2	10557668	12/03/2015	300,000,000.00	KOTAK MAHINDRA BANK LIMITED	27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA	C47816137
3	10556014	21/01/2015	50,000,000.00	YES BANK LIMITED	PRESTIGE OBELISK, KASTURBA ROAD, BANGALORE - 560001, KARNATAKA, INDIA	C47204839
4	10555071	17/01/2015	250,000,000.00	ABU DHABI COMMERCIAL BANK LIMITED	28 GROUND FLOOR CITI CENTRE, CHURCH STREET, BANGA  LORE - 560001, KARNATAKA, INDIA	C46631578
5	10544921	08/01/2015	1,280,000,000.00	Export-Import Bank of India	CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE  COMPLEX, CUFFE PARADE, MUMBAI - 40000  5, MAHARASHTRA, INDIA	C41255662
6	10545546	02/01/2015	820,000,000.00	Axis Bank Limited	INDIAN EXPRESS BUILDING, NO.1, QUEENS ROAD, BANGALORE - 560001, KARNATAKA, INDIA	C41530692
7	10540336	08/09/2015 *	220,000,000.00	RBL Bank Limited	SHAHUPURI, KOLHAPUR, KOLHAPUR - 416001, MAHARASHTRA, INDIA	C63752125
8	10541648	20/12/2014	400,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001,  MAHARASHTRA, INDIA	C39781596
9	10538465	28/11/2014	200,000,000.00	INDUSIND BANK LIMITED	GROUND FLOOR, CENTENARY BUILDING, NO 28, M G ROAD, BANGALORE - 560001, KARNATAKA, INDIA	C37916392
10	10539486	14/11/2014	300,000,000.00	YES BANK LIMITED	PRESTIGE OBELISK, KASTURBA ROAD, BANGALORE - 560001, KARNATAKA, INDIA	C38490876

* Date of charge modification

FIXED ASSETS

· Land

· Leasehold Land

· Buildings

· Road

· Factory Shed and Building

· Plant and Machinery

· Furniture and Fittings

· Office And Other Equipments

· Vehicles

· Electric Elevator

· Data Processing Equipment

· Solar Water Heating System

·

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. 65.62
UK Pound	1	Rs. 101.73
Euro	1	Rs. 73.26

INFORMATION DETAILS

Information Gathered by :	RAS
Analysis Done by :	KIN
Report Prepared by :	SANS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	6
--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	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		67

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.