MIRA INFORM REPORT

Report No. :	501930
Report Date :	07.04.2018

IDENTIFICATION DETAILS

Name :	MAGNUM MI STEEL PRIVATE LIMITED (w.e.f. 12.03.2011)
Formerly Known As :	MAGNUM GLOBAL STEEL PRIVATE LIMITED (w,e.f. 15.05.2009) MAGNUM GLOBAL STEELS PRIVATE LIMITED (w,e.f. 16.04.2009) STELCO INDIA PRIVATE LIMITED
Registered Office :	51, Ground Floor, Prakriti Marg, Sultanpur Farms, New Delhi – 110030
Tel. No.:	91-124-4031777
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	18.10.1995
Com. Reg. No.:	55-073295
Capital Investment / Paid-up Capital :	INR 76.582 Million
CIN No.: [Company Identification No.]	U74899DL1995PTC073295
IEC No.: [Import-Export Code No.]	0511028555
GSTN : [Goods & Service Tax Registration No.]	07AACCS9090F1Z6
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCS9090F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Tubes and Automobile Components using similar production processes including Slitting Line, Tube Mill, Cut to length Line and Machining. (Registered Activity)
No. of Employees :	Information denied by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 1300000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a joint venture between Batra Family, Marubeni-Itochu Steel Inc, and Marubeni-Itochu Steel Pte Limited” and it was incorporated in the year 1995 having good track record. The subject is engaged as manufacturer of tubes and automobile components for 2 wheeler. For the financial year 2017, the company has achieved decent growth of 17.69% in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the healthy financial risk profile marked by sizeable net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operation supported by strategic tie up with Marubeni Itochu (MI) and promoters' extensive experience in automobile component manufacturing industry. However, these rating strength gets partially offset by segment concentration in two wheelers and Susceptibility to demand prospects in automotive industry. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealing at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating: BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	15.02.2018

Rating Agency Name	CRISIL
Rating	Short term rating: A2
Rating Explanation	Strong degree of safety and low credit risk.
Date	15.02.2018

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 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 07.04.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DENIED BY

Name :	Ms. Poonam
Designation :	Office Executive
Contact No.:	91-124-4031777
Date :	06.04.2018

LOCATIONS

Registered Office :	51, Ground Floor, Prakriti Marg, Sultanpur Farms, New Delhi – 110030, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@magnum-misteel.com
Website :	http://www.manumtubes.com
Area :	3 Acer
Location :	Leased
Locality :	Residential
Corporate/ Factory 1 :	38.5 K. M. Stone, Delhi-Jaipur Highway, Khandsa, Gurugram – 122004, Haryana, India
Tel. No.:	91-124-4031777 / 4031778 / 4031779
Area :	3.5 Acer
Location :	Leased
Factory 2 :	Plot No. 29-32, Sector-7, Industrial Growth Center, Bawal, District Rewari, Haryana, India
Area :	6.5 Acer
Location :	Owned

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Yogesh Batra

Designation :

Managing Director

Address :

51, Sultanpur Farms, Prakriti Marg, New Delhi – 110030, India

Date of Birth/Age :

10.08.1954

Qualification :

MBA

Date of Appointment :

01.01.2011

PAN No.:

AAGPB2016D

DIN No.:

00768720

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74899DL2000PTC108770	MAGNUM STRIPS AND TUBES PRIVATE LIMITED	07/12/2000	-
U67120DL2001PTC110707	KDB INVESTMENTS PVT LTD	04/05/2001	-
U72900DL2001PTC113396	INSA SOFT-NET PRIVATE LIMITED	08/11/2007	-
U29130DL2011PTC222974	MAGNUM SADOSHIMA ISPAT PRIVATE LIMITED	29/07/2011	-
U67120DL2011PTC223467	YP INVESTMENTS PRIVATE LIMITED	09/08/2011	-
U29255DL2011PTC227764	MAGNUM MI UNAI PRESS PARTS PRIVATE LIMITED	15/12/2011	-

Name :

Ms. Puja Batra

Designation :

Director

Address :

51, Sultanpur Farms, Prakriti Marg, New Delhi – 110030, India

Date of Birth/Age :

11/07/1959

Qualification :

Graduation

Date of Appointment :

13.11.2000

PAN No.:

AAGPB2017C

DIN No.:

00371536

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74899DL2000PTC108770	MAGNUM STRIPS AND TUBES PRIVATE LIMITED	07/12/2000	-
U72900DL2001PTC113396	INSA SOFT-NET PRIVATE LIMITED	01/09/2005	-
U29130DL2011PTC222974	MAGNUM SADOSHIMA ISPAT PRIVATE LIMITED	15/09/2015	-
U67120DL2011PTC223467	YP INVESTMENTS PRIVATE LIMITED	09/08/2011	-

Name :

Mr. Anuj Batra

Designation :

Director

Address :

51, Ground Floor, Prakriti Marg, Sultanpur Farms, New Delhi – 110030, India

Date of Birth/Age :

22.11.1984

Qualification :

MBA

Date of Appointment :

15.11.2008

PAN No.:

AIEPB6062D

DIN No.:

01358208

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29130DL2011PTC222974	MAGNUM SADOSHIMA ISPAT PRIVATE LIMITED	29/07/2011	-
U67120DL2011PTC223467	YP INVESTMENTS PRIVATE LIMITED	09/08/2011	-
U29255DL2011PTC227764	MAGNUM MI UNAI PRESS PARTS PRIVATE LIMITED	29/09/2015	-

Name :

Mr. Rohan Batra

Designation :

Director

Address :

51, Ground Floor, Prakriti Marg, Sultanpur Farms, New Delhi – 110030, India

Date of Birth/Age :

03.03.1983

Qualification :

MBA

Date of Appointment :

26.07.2011

PAN No.:

AFPPB7627A

DIN No.:

03376932

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29130DL2011PTC222974	MAGNUM SADOSHIMA ISPAT PRIVATE LIMITED	01/02/2014	-
U67120DL2011PTC223467	YP INVESTMENTS PRIVATE LIMITED	09/08/2011	-

Name :

Mr. Yoshitaka Kagiyama

Designation :

Director

Address :

A-48, Gulmohar Park, New Delhi – 110049, India

Date of Birth/Age :

10.06.1885

Date of Appointment :

29.09.2014

DIN No.:

06909956

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29255DL2011PTC227764	MAGNUM MI UNAI PRESS PARTS PRIVATE LIMITED	29/09/2014	-
U28910TN2013FTC091361	MI STEEL PROCESSING INDIA PRIVATE LIMITED	19/09/2017	-
U34300DL2007PTC158139	CAPARO MI STEEL PROCESSING PRIVATE LIMITED	21/06/2017	-

Name :

Mr. Niteen Dattatraya Pinge

Designation :

Director

Address :

Thakur Building, First Floor, Opposite Kirti College, Kashinath Dhuru Road, Dadar, Mumbai – 400028, Maharashtra, India

Date of Appointment :

28.06.2017

DIN No.:

07777343

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74900MH2011PTC222152	JSW MI STEEL SERVICE CENTER PRIVATE LIMITED	29/08/2017	-
U28990DL2013FTC256926	MI ELECTRICAL STEEL PROCESSING INDIA PRIVATE LIMITED	29/09/2017	-
U27141DL2006FTC148481	MARUBENI-ITOCHU STEEL INDIA PRIVATE LIMITED.	01/04/2017	-

KEY EXECUTIVES

Name :	Ms. Anita Chaudhary
Designation :	Company Secretary
Address :	A-80, Sector 19, Dwarka, New Delhi -110075, India
Date of Appointment :	01.04.2017
PAN No.:	AINPC5322J
Name :	Ms. Poonam
Designation :	Office Executive

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Yogesh Batra	2687371
Anuj Batra	382864
Rohan Batra	382863
Puja Batra	1153636
H R Batra and Sons HUF	344917
Yogesh Batra and Sons HUF	26164
Marubeni-Itochu Steel Pte. Limited, India	1914545
Marubeni- Itochu Steel Inc., Japan	765818
Total	7658178

Equity Share Break up (Percentage of Total Equity)

AS ON 30.10.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	65.00
Public/Other than promoters - Body corporate	35.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Tubes and Automobile Components using similar production processes including Slitting Line, Tube Mill, Cut to length Line and Machining. (Registered Activity)

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Manufacturing of tubes and pipes and related products	241

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information denied by the management

Bankers :

Banker Name :	HDFC Bank Limited
Branch :	HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

• State Bank of India, SME Branch, Vatika First India Place, MG Road, Gurugram - 123501, Haryana, India

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Rupee term loans from banks	0.464	15.242
Term loans from others	0.848	1.539
SHORT TERM BORROWING
Working capital loans from banks	107.772	116.001
Total	109.084	132.782

Auditors :
Name :	AKG and Company Chartered Accountants
Address :	E – 10A, Kailash Colony, New Delhi, India
E-Mail :	akg@akgindia.in
Income-tax PAN of auditor or auditor's firm :	AAAFK3101G
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary Company:	Magnum MI Unai Press Parts Private Limited
Joint Ventures and Associated Company:	Marubeni-Itochu Steel Inc. Marubeni-Itochu Steel Pte Limited
Enterprises over which (b) and (c) above, are able to exercise significant influence:	Magnum Strips and Tubes Private Limited Magnum Sadoshima Ispat Private Limited Marubeni-Itochu Steel India Private Limited

CAPITAL STRUCTURE

After 30.10.2017

Authorised Capital : INR 168.564 Million

Issued, Subscribed & Paid-up Capital : INR 76.582 Million

AS ON 30.10.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	INR 10/- each	INR 80.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7658178	Equity Shares	INR 10/- each	INR 76.582 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET (STANDALONE)

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	76.582	76.582	76.582
(b) Reserves and Surplus	393.398	341.004	305.048
(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)	469.980	417.586	381.630
(3) Non-Current Liabilities
(a) long-term borrowings	158.780	174.249	15.823
(b) Deferred tax liabilities (Net)	40.091	32.447	30.315
(c) Other long-term liabilities	0.000	0.000	0.000
(d) long-term provisions	7.215	5.382	4.454
Total Non-current Liabilities (3)	206.086	212.078	50.592
(4) Current Liabilities
(a) Short-term borrowings	107.772	116.001	235.031
(b) Trade payables	203.264	152.765	71.863
(c) Other current liabilities	18.902	34.656	48.453
(d) Short-term provisions	19.191	34.399	13.481
Total Current Liabilities (4)	349.129	337.821	368.828
TOTAL	1025.195	967.485	801.050
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	445.322	441.227	342.674
(ii) Intangible Assets	1.350	0.574	1.428
(iii) Tangible assets capital work-in-progress	0.455	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	57.566
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	1.927	2.105	1.555
(e) Other Non-current assets	0.000	0.000	0.041
Total Non-Current Assets	449.054	443.906	403.264
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	149.436	152.446	57.482
(c) Trade receivables	354.466	272.132	261.028
(d) Cash and bank balances	4.591	7.222	2.187
(e) Short-term loans and advances	67.648	91.739	76.907
(f) Other current assets	0.000	0.040	0.182
Total Current Assets	576.141	523.579	397.786
TOTAL	1025.195	967.485	801.050

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	1589.304	1350.439	1212.742
	Other Income	0.181	0.623	3.817
	TOTAL	1589.485	1351.062	1216.559
Less	EXPENSES
	Cost of Materials Consumed	1251.863	1021.410	962.083
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(5.073)	(8.342)	9.784
	Employee benefit expense	69.752	64.329	54.338
	Other expenses	148.252	140.711	102.689
	TOTAL	1464.794	1218.108	1128.894
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	124.691	132.954	87.665
Less	FINANCIAL EXPENSES	25.243	27.551	33.514
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	99.448	105.403	54.151
Less/ Add	DEPRECIATION/ AMORTISATION	31.084	29.745	23.556
	PROFIT/ (LOSS) BEFORE TAX	68.364	75.658	30.595
Less	TAX	16.469	26.049	11.450
	PROFIT/ (LOSS) AFTER TAX	51.895	49.609	19.145
	IMPORTS
	Components and spare parts	0.136	0.288	0.120
	TOTAL IMPORTS	0.136	0.288	0.120
	Earnings / (Loss) Per Share (INR)	6.78	6.48	2.50

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	1.207	20.264	28.712
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	82.801	(46.424)	63.592
Net cash flows from (used in) operating activities	83.138	(35.950)	61.558

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	81.41	73.55	78.56
Account Receivables Turnover (Income / Sundry Debtors)	4.48	4.96	4.65
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	59.26	54.59	27.26
Inventory Turnover (Operating Income / Inventories)	0.83	0.87	1.53
Asset Turnover (Operating Income / Net Fixed Assets)	0.28	0.30	0.25

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.50	0.55	0.52
Debt Equity Ratio (Total Liability / Networth)	0.57	0.74	0.73
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.74	0.81	0.97
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.95	1.06	0.90
Interest Coverage Ratio (PBIT / Financial Charges)	4.94	4.83	2.62

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	3.27	3.67	1.58
Return on Total Assets ((PAT / Total Assets) * 100)	%	5.06	5.13	2.39
Return on Investment (ROI) ((PAT / Networth) * 100)	%	11.04	11.88	5.02

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.65	1.55	1.08
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.22	1.10	0.92
G-Score Ratio Financial (Networth / Total Assets)	0.46	0.43	0.48
G-Score Ratio Debt (Debts / Equity Capital)	3.50	4.05	3.65
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.65	1.55	1.08

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	76.582	76.582	76.582
Reserves & Surplus	305.048	341.004	393.398
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	381.630	417.586	469.980
Long-term borrowings	15.823	174.249	158.780
Short term borrowings	235.031	116.001	107.772
Current maturities of long-term debts	28.712	20.264	1.207
Total borrowings	279.566	310.514	267.759
Debt/Equity ratio	0.733	0.744	0.570

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	1212.742	1350.439	1589.304
		11.354	17.688

NET PROFIT MARGIN

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	1212.742	1350.439	1589.304
		11.354	17.688

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	76.582	76.582
(b) Reserves and Surplus	341.004	297.621
(c) Money received against share warrants	0.000	0.000
(d) Minority interest	0.000	26.556
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	417.586	374.203
(3) Non-Current Liabilities
(a) long-term borrowings	174.249	32.993
(b) Deferred tax liabilities (Net)	32.447	25.742
(c) Other long-term liabilities	0.000	0.000
(d) long-term provisions	5.382	4.454
Total Non-current Liabilities (3)	212.078	63.189
(4) Current Liabilities
(a) Short-term borrowings	116.001	240.931
(b) Trade payables	152.765	83.090
(c) Other current liabilities	34.656	54.595
(d) Short-term provisions	50.430	15.436
Total Current Liabilities (4)	353.852	394.052
TOTAL	983.516	858.000
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	441.227	438.132
(ii) Intangible Assets	0.574	2.297
(iii) Tangible assets capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term loans and advances	2.105	2.110
(e) Other Non-current assets	0.000	0.041
Total Non-Current Assets	443.906	442.580
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	152.446	66.429
(c) Trade receivables	288.163	263.110
(d) Cash and bank balances	7.222	5.066
(e) Short-term loans and advances	90.479	80.635
(f) Other current assets	1.300	0.180
Total Current Assets	539.610	415.420
TOTAL	983.516	858.000

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS	31.03.2016	31.03.2015
	SALES
	Income	1350.439	1309.681
	Other Income	0.623	3.240
	TOTAL	1351.062	1312.921
Less	EXPENSES
	Cost of Materials Consumed	1020.300	1031.048
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(8.342)	8.481
	Employee benefit expense	64.329	59.843
	Other expenses	141.821	119.576
	TOTAL	1218.108	1218.948
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	132.954	93.973
Less	FINANCIAL EXPENSES	27.551	37.041
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	105.403	56.932
Less/ Add	DEPRECIATION/ AMORTISATION	29.745	29.521
	PROFIT/ (LOSS) BEFORE TAX	75.658	27.411
Less	TAX	26.049	12.501
	PROFIT/ (LOSS) AFTER TAX	49.609	14.910
	Profit (loss) of minority interest	0.000	1.482
	TOTAL PROFIT (LOSS) FOR PERIOD	49.609	16.393
	Earnings / (Loss) Per Share (INR)	6.48	1.95

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	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	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	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

STATE OF THE COMPANYS AFFAIR

During the year, the Company has registered a turnover of INR 1589.304 Million as compared to INR 1350.439 Million of previous year from sale of its products registering an increase by 17%. The Company has earned net profit of INR 51.895 Million (previous year INR 49.609 Million) and is hopeful that revenue and profits of the Company will increase in future as Directors and employees are putting in their best efforts to improve the performance of the Company.

i) Amalgamation of Magnum MI Unai Press Parts Private Limited into the Company

The Company had filed application with the Office of Regional Director for its approval for Scheme of Amalgamation of Magnum MI Unai Press Parts Private Limited, wholly owned subsidiary of the Company, with the Company. The Regional Director issued Order dated October 25, 2017 approving Merger of Magnum MI Unai Press Parts Private Limited into the Company. The Scheme is effective w.e.f October 30, 2017.

ii) Amendment of the Authorised Share Capital Clause of Memorandum of Association of the Company/ Share Capital Pursuant to the Amalgamation and as per approved Scheme of Amalgamation, the Authorised Share Capital of the Company is revised and is increased from INR 80.000 Million to INR 168.564 Million.

Therefore, Memorandum of Association of the Company is altered by replacing existing Clause V with a new Clause V.

The issued, subscribed and paid-up share capital of the Company stood at INR 7,65,81,780/- as at March 31, 2017 comprising of 76,58,178 Equity Shares of INR 10/- each fully paid-up. There was no change in Share Capital during the financial year 2016-17.

iii) Amendment of the Main Objects Clause of Memorandum of Association of the Company

Pursuant to the Amalgamation and as per approved Scheme of Amalgamation, the Main Objects Clause of Memorandum of Association of the Company is amended by inserting two (2) new clauses after existing clause 2.

UNSECURED LOANS:

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Term loans from others	157.468	157.468
Total	157.468	157.468

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	B80310931	10438541	STATE BANK OF INDIA	28/06/2013	-	-	73400000.0	COMMERCIAL BRANCH 6TH FLOORPALM COURT ,MEHRAULI GURGAON ROADGURGAONHR122001IN
2	G45696671	10168818	STATE BANK OF INDIA	19/06/2009	12/05/2017	-	286400000.0	SME BRANCH, VATIKA FIRST INDIA PLACEMG ROAD, GURGAONGURGAONHR123501IN
3	G80243637	100100449	HDFC BANK LIMITED	31/12/2016	-	22/02/2018	50000000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN

FIXED ASSETS:

Tangible assets

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments

Intangible assets

• Goodwill
• Computer software

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	INR
US Dollar	1	INR 64.99
UK Pound	1	INR 90.96
Euro	1	INR 79.51

INFORMATION DETAILS

Information Gathered by :	SHW
Analysis Done by :	NIS
Report Prepared by :	KVT

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.