MIRA INFORM REPORT

Report Date :

14.08.2008

IDENTIFICATION DETAILS

Name :	UTTARA FOODS AND FEEDS PRIVATE LIMITED
Registered Office :	“Venkateshwara House“ S. No. 114/2, Pune Sinhagad Road, Pune – 411030, Maharashtra
Country :	India
Financials (as on) :	31.03.2008
Date of Incorporation :	04.06.1996
Com. Reg. No.:	11-99964
CIN No.: [Company Identification No.]	U15332MH1996PTC099964
TAN No.: [Tax Deduction & Collection Account No.]	PNEU05948F / ALDU00245A
PAN No.: [Permanent Account No.]	AAACU3663Q
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacture of poultry, veternary feeds, animal feeds, cattle feeds oil cakes, feed supplements and additives, fish meal, meat, chicken meat and products, egg products, processed meat etc.

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory – Improving
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an old and established company and a part of Venkateshwara Group. Directors are reported as experienced, respectable and having satisfactory means of their own. Company’s profitability is improving and expected to wipe-off previous losses, soon. Trade relations are fair. Payments are reported as usually correct and as per commitments. The company can be considered good for normal business dealings.

INFORMATION PARTED BY

Name :	Mr. M Anandapadmanbhan
Designation :	Director
Contact No.:	91-9422313958
Date :	13.08.2008

LOCATIONS

Registered Office :	“Venkateshwara House“ S. No. 114/2, Pune Sinhagad Road, Pune – 411030, Maharashtra, India
Tel. No.:	91-20-24251530-41 / 66099300 / 66099301 / 24251530
Fax No.:	91-20-24251077 / 24251060 / 26114173
E-Mail :	corp.sec@venkys.com venkys-ip@eth.net uffpl_acct_pnq@yahoo.co.in
Website :	http://www.venkys.com
Area :	Owned
Sales Office :	Uttara House 2, Wellesly Road, Camp Pune – 411001, Maharashtra, India
Tel. No.:	91-20-56099324 / 26054974 / 56099300 / 26131274 / 26137971 / 26138907 / 26138501
Mobile No. :	91-9371089131
Fax No.:	91-20-26137267 / 26114128 / 26114173
Email :	exports@uttarafoods.com info@uttarafoods.com
Factory : [Manufacturing of Poultry Feed] / Branch Office :	Gat No. 733/734/752, Ketkawale, Tal-Purandhar, District – Pune
Tel. No.:	91-2115-236121, 236151 / 236122 / 236155
Fax No.:	91-2115-236121
E-Mail :	uffpl_acct_pnq@yahoo.co.in
Area :	Owned
Factory / Branch Office :	Kasara No. 2085/85, Gagwana Village, Ladpura Road, Near Akashwani, Rajasthan
Tel. No.:	91-145-2787807
Fax No.:	91-145-2787152 / 2787807
E-Mail :	Uttaraf_f@sancharnet.in
Area :	Owned
Factory / Branch Office :	S. No. 326, Village- Pullur, District Mehboobnagar [A.P.]
Tel. No.:	91-850-2244256
Fax No.:	91-850-2244197
E-Mail :	uffpl@rediffmail.com
Area :	Owned
Factory / Branch Office :	Vill-Barwa, Phoolpur-Sindhore Road, P.O. Katuna, Tehsil – Pindara, Varnasi [Uttar Pradesh]
Tel. No.:	91-542-2649421
Fax No.:	91-542-2284858 / 2281331
E-Mail :	vnsmailbox@rediffmail.com
Area :	Owned
Factory / Branch Office :	N. H. 6, Mumbai – Kolkata Highway, West Midnapore, Kharagpur [West Bengal]
Tel. No.:	91-32222-91025
Fax No.:	91-32222-91552
E-Mail :	tkm_chd2003@yahoo.com
Area :	Owned
Factory / Branch Office :	G. T. Road, Khanna, Ludhiana – Punjab
Tel. No.:	91-1628-503772
Fax No.:	91-1628-503772
E-Mail :	Uttaraf_f@sancharnet.in
Area :	Owned
Factory [Hatchery] / Branch Office :	Mouza Gumadangi, P. O. Munshirhat, P. S. J. B. Pur Police Station, Howarth [West Bengal]
Tel. No.:	91-33-22824278
Fax No.:	91-33-22824278
E-Mail :	Uffpl_kol@vsnl.net
Area :	Owned
Factory [Food Manufacturing] / Branch Office :	Gat No. 1426, Ranjangaon, Taluka – Shirur, District Pune [Biscuit Manufacturing]
Tel. No.:	91-2138-243449
Fax No.:	91-2138-243447
E-Mail :	uffpl_acct_pnq@yahoo.co.in
Area :	Owned
Factory / Branch Office :	Gat No. 734, Ketawale, Taluka Purandhar, District – Pune [Wheat Flour Manufacturing]
Tel. No.:	91-2115-236121 / 236151 / 236122 / 236155
Fax No.:	91-2155-236121
E-Mail :	uffpl_acct_pnq@yahoo.co.in
Location :	Owned
Middle East Regional Office :	Venky's (Middle East) FZCO PO Box 54621, Suite 4B 151, Dubai Airport Free Zone, Dubai, UAE.
Tel. No.:	+9714-2045137 / 38
Fax No.:	+9714-2045139
North American Regional Office :	5 Edgell Road, Suite, 30 A, Framingham, MA 01701 USA.
Tel. No.:	508 935 2275
Fax No.:	508 935 2276
Email :	exports@uttarafoods.com
Exports :
Tel. No.:	91 20 26054974
Fax No.:	91 20 26114128
Email :	exports@uttarafoods.com

DIRECTORS

Name :	Mrs. Anuradha J Desai
Designation :	Director
Address :	“Venkatesh Farms”, S. No. 95/1, N.D.A. Road, Village Mauje Warje, Taluka Haveli, Pune – 411029, Maharashtra, India
Date of Birth/Age :	15.05.1962
Qualification :	Post Graduate
Experience :	20 Years
Date of Appointment :	04.06.1996
Name :	Mr. Venkatesh B. Vasudev Rao
Designation :	Director
Address :	“Venkatesh Farms”, S. No. 95/1, N.D.A. Road, Village Mauje Warje, Taluka Haveli, Pune – 411029, Maharashtra, India
Date of Birth/Age :	31.12.1965
Qualification :	Post Graduate
Experience :	15 Years
Date of Appointment :	04.06.1996
Name :	Mr. Balaji B. Vasudev Rao
Designation :	Director
Address :	“Venkatesh Farms”, S. No. 95/1, N.D.A. Road, Village Mauje Warje, Taluka Haveli, Pune – 411029, Maharashtra, India
Date of Birth/Age :	08.12.1972
Qualification :	Post Graduate
Experience :	10 Years
Date of Appointment :	04.06.1996
Name :	Mr. Basthu Rosai Fernades
Designation :	Director
Address :	Bharat forge Employees Co-operative Housing Society, Sasanenagar, Hadapsar, Pune – 411028, Maharashtra, India
Date of Birth/Age :	02.01.1943
Date of Appointment :	02.01.1998
Date of Ceasing :	01.11.2007
Name :	Dr. Mangalmurti Madhukar Pathak
Designation :	Whole Time Director
Address :	26-A, Flat No. 9, Deepa Apartments, Rambaug Colony, Paud Road, Kothrud, Pune – 411029, Maharashtra, India
Date of Birth/Age :	04.04.1961
Qualification :	Post Graduate
Experience :	15 Years
Date of Appointment :	11.05.2002
Name :	Dr. Gopal Rangnath Deshpande
Designation :	Director
Address :	Twin Bunglow, 19 A, Renuka Sahakari Society, Chintamani Nagar, Bibwewadi Police Station, Pune – 411037, Maharashtra, India
Date of Birth/Age :	10.08.1931
Date of Appointment :	26.12.2003
Date of Ceasing :	01.02.2005
Name :	Mr. Prakash Ramrao Misal
Designation :	Director
Address :	B-11, Gera Greens, Nibm Road, Kondhwa, Pune – 411040, Maharashtra, India
Qualification :	Post Graduate
Experience :	06 Years
Date of Birth/Age :	01.01.1944
Date of Appointment :	24.11.2005
Name :	Mr. Anand Padmanabhan
Designation :	Director
Address :	Flat No. 101/102, Building No. D-2, Natasha Enclave, Nibm Road, Kondhwa Khurd, Pune – 411048, Maharashtra, India
Date of Birth/Age :	02.11.1958
Qualification :	Post Graduate
Experience :	04 Years
Date of Appointment :	06.02.2007

KEY EXECUTIVES

Name :	Mr. Sameer Sham Wagh
Designation :	Company Secretary
Address :	8, Laxmi Apartments, Lane No. 6, Prabhat Road, Pune – 411004, Maharashtra, India
Date of Birth/Age :	09.01.1980
Date of Appointment :	26.08.2004
Date of Ceasing :	01.10.2004

MAJOR SHAREHOLDERS

AS ON 24.09.2005

Names of Shareholders	No. of Shares	Preference Shares
Anuradha Jitendra Desai	280000	80000
B. Venkatesh	6792300	25500
B. Balaji Rao	385000	80000
Ventakeshwara Hatcheries Private Limited	145000	--
Eastern Hatcheries Private Limited	--	1414500
Srivenk Investments Private Limited	--	400000
Total	7602300	2000000

AS ON 30.09.2007

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	1.91
Directors or relatives of directors	98.09
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture of poultry, veternary feeds, animal feeds, cattle feeds oil cakes, feed supplements and additives, fish meal, meat, chicken meat and products, egg products, processed meat etc.

Products :

Product Description	ITC Code No
Poultry Feed Biscuits Flour Mill	3099009

• Glucose Biscuits
• Glucose Biscuits With Milk and Honey
• Milk And Malt Biscuits
• Nice-Sugar Sprinkled Coconut Biscuits
• Cardamom Tea Biscuits
• Choco Bikis – Biscuits With Chocolate
• Chocolate Chip Coolies [Proposed]
• Coconut Cookies [Proposed]

Exports :

Products :

Biscuits

Countries :

South Africa, United States of Africa

Terms :

Selling :

L/C, Credit [60 days]

Purchasing :

Credit [90 days]

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production
Poultry	[TPA]	348000	233160
Biscuits	[TPA]	13200	1904
Wheat Flour	[TPA]	18000	927
Hatchery	[Nos]	17400000	12258135

GENERAL INFORMATION

Suppliers :

Name of the Suppliers	Location	Relationship [No. of Years]	Credit Period Allowed
Rishabh Traders	Pune	5 Years	60 days
Deesan Agro Tech Limited	Dhulia	8 Years	60 days
Vijaya Enterprises	Mumbai	4 Years	60 days
Rajkumar Trading Company	Pune	8 Years	60 days

Customers :

End Users

• Victor Global
• Allied International

Name of the Customers	Location	Relationship [No. of Years]	Credit Period Allowed
Manashree Enterprises	Panvel	2 Years	30 days
Ave Miriam Enterprises	Goa	5 Years	30 days
Kaveri Enterprises	Pune	3 Years	30 days
Renuka Sales Corporation	Aurangabad	3 Years	30 days

No. of Employees :

917

Bankers :

• ICICI Bank Limited

ICICI Bank Towers, Bandra Kurla Complex, Mumbai – 400051, Maharashtra, India

• Corporation Bank

Industrial Finance Branch, No. 14, Pune Mumbai Road, Wakdewadi, Pune – 411003, Maharashtra, India

• Bank of India

Pune Agri. Hi-Tech Finance Branch, 1162/6, Shivaji Nagar, Ganeshkhind Road, Pune – 411005, Maharashtra, India

• Union Bank of India

Industrial Finance Branch, 619, Sachapir Street, Pune Camp, Pune – 411001, Maharashtra, India

• HDFC Bank Limited

Law College Road Branch, Pune – 411004

• Axis Bank Limited

Jangli Maharaj Road, Pune – 411004

Facilities :

Bank	Nature of Credit Facility	Sanctioned Loan Amount
Bank of India	Term Loan, CC	Rs. 112.844 Millions
Corporation Bank	Term Loan, CC	Rs. 140.895 Millions
ICICI Bank Limited	Term Loan, CC	Rs. 343.947 Millions
Axis Bank Limited	CC	Rs. 15.000 Millions

Secured Loans [As on 31.03.2008]

From Banks	Rs in Millions
Term Loans	432.243
Working Capital Facilities	143.688
Total	575.931

Security :

Term loans from banks are secured by equitable mortgage of land together with buildings and other structures/ fixtures thereon and hypothecation of plant and machinery and other movable assets both, present and future. Term Loans are also party, secured by paripassu chare on the immovable and assets. These are further party secured by a Corporate Guarantee from Venkateshwara Hatcheries Private Limited

Working Capital facilities are secure by hypothecation of stock of raw materials, stock in process, semi finished and finished goods, stores and spares not relating to plant and machinery, bills receivable and book debts and all other movables, both present and future. There are further secure by a Corporate Guarantee from Venkateshwara Hatcheries Private Limited

Banking Relations :

Satisfactory

Auditors :

Name :

Kirtane and Pandit

Chartered Accountants

Address :

Sangati, 73/2/2, Bhakti Marg, Off Law College Road, Pune – 411004, Maharashtra, India

 Tel No.:

91-20-25433104 / 25438764 / 25421997 

Fax No.:

91-20-25447603

E-Mail:

kpca@kirtanepandit.com

Website :

http://www.kirtanepandit.com

Mumbai Office :

H/16, Saraswat Colony, Sitaladevi Temple Road, Mahim, Mumbai – 400016, Maharashtra, India

 Tel No.:

91-22-24469713

Fax No.:

91-22-24441147

Associates :

Venkys [Middle East] FZCO

Group Companies :

Name :	Venkateshware Hatcheries Private Limited
Address :	S. No. 114/A/2, “Venkateshwara House”, Pune – Sinhagad Road, Pune – 411030
Line of Business :	Vaccine, Research, Egg Powders, Poultry Feeds etc.
Name :	Vekey’s India Limited
Address :	S. No. 114/A/2, “Venkateshwara House”, Pune – Sinhagad Road, Pune – 411030
Line of Business :	Animal health products, Solvent extractions, Processed chickens etc.
Name :	V J Equipment Limited
Address :	S. No. 114/A/2, “Venkateshwara House”, Pune – Sinhagad Road, Pune – 411030
Line of Business :	Manufacturing of sophisticated incubators
Name :	Venkateshwara Research & Bredding Farm Limited
Address :	S. No. 114/A/2, “Venkateshwara House”, Pune – Sinhagad Road, Pune – 411030
Line of Business :	Engaged in breeding of layer parents
Name :	Venco Research & Bredding Farm Limited
Address :	S. No. 114/A/2, “Venkateshwara House”, Pune – Sinhagad Road, Pune – 411030
Line of Business :	Engaged in breeding of layer parents [collaboration with COBB – USA]
Name :	Shivalik Hatcheries Private Limited
Address :	S. No. 114/A/2, “Venkateshwara House”, Pune – Sinhagad Road, Pune – 411030
Line of Business :	Manufacturing of corrugated boxes for packing
Name :	Venkateshwara Foods and Feeds
Address :	S. No. 114/A/2, “Venkateshwara House”, Pune – Sinhagad Road, Pune – 411030
Line of Business :	Manufacturing of vitamins
Name :	Indian Institute of Poultry Management
Address :	S. No. 114/A/2, “Venkateshwara House”, Pune – Sinhagad Road, Pune – 411030
Line of Business :	Education / training in poultry

• Balaji Foods & Feeds Limited
• Western Hatcheries Limited
• VSPF Poultry Farm Limited
• Venki Import & Exports Private Limited
• Eastern Hatcheries Private Limited
• Omni Biosearch Limited
• Brindavan Hatcheries Private Limited
• Uttara Constructions Private Limited
• Uttaara Agencies Private Limited
• Venka Investment Limited
• Venkateshware Management Services Limited
• South India Hatcheries Limited
• V R Equipment Limited
• Dattatrey Hatcheries Private Limited
• Venkeys Foods (India) Private Limited
• Balu Foods Products Private Limited
• Venkbal Leasing & Finance Private Limited
• Uttara Daiary & Food Products Private Limited
• Srivenk Investments

o Saptagin Investments Private Limited

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
16000000	Equity Shares	Rs. 10/- each	Rs. 160.000 Millions
2000000	Preference Shares	Rs. 10/- each	Rs. 20.000 Millions
	Total		Rs. 180.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7602300	Equity Shares	Rs. 10/- each	Rs. 76.023 Millions
2000000	Preference Shares	Rs. 10/- each	Rs. 20.000 Millions
	Total		Rs. 96.023 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Share Capital		96.023	96.023	50.000
2] Share Application Money		62.175	0.000	38.223
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		[140.669]	[251.492]	[94.181]
NETWORTH		17.529	[155.469]	[5.958]
LOAN FUNDS
1] Secured Loans		575.931	601.760	342.442
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		575.931	601.760	342.442
DEFERRED TAX LIABILITIES		0.000	0.000	53.301
TOTAL		593.460	446.291	389.785
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		563.307	551.296	557.565
Capital work-in-progress		0.000	47.026	49.890
INVESTMENT		3.686	3.686	3.686
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	192.768	162.768	114.010
	Sundry Debtors	172.114	261.026	169.178
	Cash & Bank Balances	82.337	73.950	48.316
	Other Current Assets	5.966	7.676	6.529
	Loans & Advances	458.325	166.933	24.102
Total Current Assets		911.510	672.353	362.135
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	880.058	825.053	579.310
	Provisions	4.985	3.414	4.339
Total Current Liabilities		885.043	828.467	583.649
Net Current Assets		26.467	[156.114]	[221.514]
MISCELLANEOUS EXPENSES		0.000	0.000	0.027
Pre-Operative Expenses pending Allocation		0.000	0.397	0.131
TOTAL		593.460	446.291	389.785

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2008	31.03.2007	31.03.2006
Sales Turnover		3372.052	2365.184	2630.844
Other Income		32.642	31.364	0.000
Total Income		3404.694	2396.548	2630.844
Profit/(Loss) Before Tax		114.022	[207.198]	[56.152]
Provision for Taxation		3.200	[49.887]	27.971
Profit/(Loss) After Tax		110.822	[157.311]	[84.123]
Earnings in Foreign Currency :
	Export Earnings	35.495	30.897	2.542
Imports :
	Raw Materials	2600.048	1915.877	0.000
	Stores & Spares	7.523	15.424	1.556
	Trading Goods	45.237	16.776	0.144
Total Imports		2652.808	1948.077	1.700
Expenditures :
	Cost of Goods Sold	34.122	[18.196]	2.940
	Administrative Expenses	121.041	128.276	113.324
	Manufacturing Expenses	31.428	31.525	0.000
	Depreciation	35.015	35.714	34.469
	Interest	61.333	54.267	39.301
	Other Expenses	3007.733	2372.160	2496.962
Total Expenditure		3290.672	2603.746	2686.996

KEY RATIOS

PARTICULARS		31.03.2008	31.03.2007	31.03.2006
PAT / Total Income	(%)	3.25	[6.56]	[3.20]
Net Profit Margin (PBT/Sales)	(%)	3.38	8.76	2.13
Return on Total Assets (PBT/Total Assets}	(%)	7.73	[16.93]	[6.11]
Return on Investment (ROI) (PBT/Networth)		6.50	[1.33]	9.42
Debt Equity Ratio (Total Liability/Networth)		83.35	9.20	155.44
Current Ratio (Current Asset/Current Liability)		1.03	0.81	0.62

LOCAL AGENCY FURTHER INFORMATION

Business

To carry on the business as manufacturers, producers, processor, distributors, wholesalers, retailers, stockiest, buyers, sellers, importers, exporters and dealers poultry, human, animal, veterinary foods, feeds, animal feeds, poultry feeds, cattle feeds, cattle deeds, oil cakes, feed supplements, veterinary foods, fish meal, meat, chicken meat and chicken products, egg products, cut-portion chicken, quail meat products, sheep, goat, pig meat products, processed meat, chicken and fish products, chicken products, table bird products, in pellet or powder or liquid form or otherwise food products, health and instant foods, food supplements, food ingredients sea-foods, processed sea products, fish, fish products, fruits pulps, fruits products, jams, dry fruits, mixed dry fruits, fruits, ghee, butter, cheese and such other milk products of all kinds soya foods, edible oil products, tea, coffee, cocoa and consumable provisions every description for human or animal consumption.

Subject is a leading manufacturer of a wide range of food products in India. They are part of the USD 400 million venkateshwara hatcheries group, based in Pune, India

The plant capacity is 25 MT per day and state-of-the-art machinery has been installed.

Trade Reference

• Rishabh Traders – 140 Shukrwar Peth, Pune

• Deesan Agro Tech Limited – A 1/2, MIDC, Dhulai

• Vijaya Enterprises – 227, 2^nd Floor, Udyogkshetra Industrial Estate, Mulund [West], Mumbai – 400080

• Rajkumar Trading Company – A/P Kamshet, Taluka Maval, District Pune - 410405

Bankers Charges Report as per Registry

Name of the company	UTTARA FOODS AND FEEDS LIMITED
Presented By	Mr. B. Venkatesh Rao, Managing Director
1) Date and description of instrument creating the change	11.02.2005 Agreement for auto loan
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 0.425 Million
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Ford Ikon, Steel Mist bearing registration number MH12 CK 9716, Chassis No. MAJAXXMRTA5JA2179, Engine No. MAJAXXMRTA5JA2179
4) Gist of the terms and conditions and extent and operation of the charge.	The company has been sanctioned a vehicle loan of Rs. 0.425 Millions against hypothecation of the vehicle described in item no 3 above. The loan is to be repaid in 36 equated monthly installment of Rs. 0.013 Million Rate of interest 5.14 % p.a.
5) Name and Address and description of the person entitled to the charge.	HDFC Bank Limited Law College Road Branch Pune – 411004
6) Date and brief description of instrument modifying the charge	--
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	--

Name of the company	UTTARA FOODS AND FEEDS LIMITED
Presented By	Mr. Basthu Rosai Fernades, Director
1) Date and description of instrument creating the change	17.12.2004 Agreement for auto loan
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 1.206 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Ford Endeavour 4 X 2, Steel Mist, Vehicle Registries No. MH-12, CK-7103, Chassis No. MAJUXXMR2U4YU0792, Engine No. MAJUXXMR2U4YU0792
4) Gist of the terms and conditions and extent and operation of the charge.	The company has been sanctioned a vehicle loan of Rs. 1.206 Millions against hypothecation of the vehicle described in item no 3 above. The loan is to be repaid in 48 equated monthly installment of Rs. 0.028 Millions Rate of Interest 5.65 % p.a.
5) Name and Address and description of the person entitled to the charge.	HDFC Bank Limited Law College Road Branch Pune – 411004
6) Date and brief description of instrument modifying the charge	--
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	--

This form is for	Modification of charge
Charge identification number of the modified	9008286
Corporate identity number of the company	U15332MH1996PTC099964
Name of the company	UTTARA FOODS AND FEEDS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	“Venkateshwara House“ S. No. 114/2, Pune Sinhagad Road, Pune – 411030, Maharashtra, India
Type of charge	Immovable Property Book Debts Movable Property Floating Charge
Particular of charge holder	Corporation Bank Industrial Finance Branch, No. 14, Pune Mumbai Road, Wakdewadi, Pune – 411003, Maharashtra, India Email : cb502@corpbank.co.in
Nature of description of the instrument creating or modifying the charge	Supplemental common deed of hypothecation of movables / assets / book debts Memorandum of deposit of title deeds Both the documents constitute a single charge dated 13^th March, 2008
Date of instrument Creating the charge	13.03.2008
Amount secured by the charge	Rs. 13.700 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest For Cash Credit : 12.75 % p.a. [at 0.50 % below COBAR] at present subject to revision from time to time at monthly rests. For Term Loan : 12.75 % p.a. [at 0.50 % below COBAR] at present subject to revision from time to time at monthly rests. Terms of Repayment For Cash Credit : Running account repayable on demand on demand subject to annual renewal / review every year For term loan : Repayable in 60 monthly installments of Rs. 0.415 Million each [last installment – Rs. 0.515 millions] commencing from 30.06.2004 Margin For Cash Credit : 25 % on inventory and 30 % on receivables outstanding for a period up to 90 days For term loan : 35 % Extent and Operation of the charge The charge covers sanctioned term loan and cash credit facilities alongwith interest, penal interest and other charges to the extent of Rs. 13.700 Millions
Short particulars of the property charged	First charge by way of Hypothecation of entire inventory and book debts of Kolkata – Hatchery Division, continuing charge on the fixed assets of the hatchery unit at Kolkata, fixed assets of the Biscuit division located at Ranjangaon, Pune by way of Equitable Mortgage of immovable properties and hypothecation of movable assets and Continuing charge on the plant and machineries of Khanna Feed plant [Common security for Cash credit and export credit facilities of the biscuit division]
Date of latest modification prior to the present modification	14.11.2006
Particulars of the present modification	Additional security has been provided, the amount secured by the charge has been reduced to rs. 13.700 Millions from Rs. 32.000 millions as under Cash Credit : Rs. 7.000 Millions Term Loan Rs. 2.500 Millions has been reducred to Rs. 6.700 Millions

Details of Fixed Assets

Rs in Millions

Land and Building	314.068
Plant and Machinery	269.241
Furniture and Fittings	59.920
Other Assets	103.816

Fixed Assets

• Land and Building
• Furniture and Fittings
• Plant and Machinery
• Computers
• Motor Car
• Motor Vehicles

For manufacturing Entities / factory site

Location of Plot, accessibility, proximity to other units	Good
Principal raw materials and sources	Maize, Soya for Feed, Sugar, Maida, Vanaspati for Biscuit
Manufacturing Process	Manufacturing process for feed is lesser hence no WIP as compare to Biscuit Div
Major branded and imported	Bhuler [Switzerland] for feed

Swot Analysis of the Unit

Strengths : Market Leader with good infrastructure for feed market	Weakness : New in FMCG Market
Opportunities : New setup at Siliguri will increase the sale in North eastern part of India	Threats : Bird Flu is the main threat

Securities offered

Rs in Millions

E. M. of Land Situated a Survey No. 325 A, 330 A and C, E, 424 A 1 to 3, 362 and 395 in Pullur, Alambur Village, Mehaboob Nagar, Andhra Pradesh area measuring 4.80 lakhs sqft and Hypothecation of Plant and Machinery	150.000
EM of Land Situated at Khasara No. 2084, 2085 @ 2087, 1665, 1668, 1670 and 1671, Gangawana Village, Ladhpura Road, Ajmer, Rajasthan and Buildings total land and building area measuring 7.21 acres Hypothecation of Plant and Machinery	100.000
EM of land situated in Khasara No. 1 to 15, 39 C, 39 K, 40 41k, at Barva Village Sindhora Road, District, Varanasi, area measuring 8 acres and building constructed thereon measuring 2.40 lakhs sqft and Hypothecation of Plant and machinery at Varanasi	120.000
EM of Land and Building the Ranjangaon plant situated at Gat No. 1426, Village Rangangaon Shirur taluk, Pune District adm 7.2 acres building constructed thereon adm 33500 sq. ft. and Hypothecation of	80.000
EM of Land and Building of Kolkata Hatchery and Hypothecation of Plant and Machinery	60.000
EM of 2^nd and 3^rd Floor Uttara House, Situated at No. 2, Wellessely Road, Camp Pune adm 10000 sq. ft.	60.000
Paripassu First Charge on Land and Building, Plant and Machinery of Ketkewale Four Division – Other Charge holder is Axis Bank	60.000
Paripassu First Charge on Plant and Machinery of Ketkewale Feed Plant – Other charge holder in Bank of India, J. M. Road Branch	150.000
Total	780.000

OPERATING STATEMENT

[Rs in Millions]

Particulars	Projected
	2008-09	2009-10	2010-11	2011-12	2012-13	2013-14
1. Gross Sales
Sales – Export	250.000	250.000	250.000	250.000	250.000	250.000
Sales – Local	3950.000	4790.000	5294.000	5848.400	6153.300	6473.400
Total	4200.000	5040.000	5544.000	6098.400	6403.300	6723.400
2. Net Sales [1-2]	4200.00	5040.000	5544.000	6098.400	6403.300	6723.400
3. Other Income
Total Income
4. % rise [+] or fall [-] in net sales as compared to previous year	23.74 %	20.00 %	10.00 %	10.00 %	5.00 %	5.00 %
5. COST OF SALES
i] Raw Materials [Including stores and other items used in the process of manufacture]
[a] Imported
[b] Indigenous	3208.400	3777.300	4156.900	4572.500	4801.800	5041.800
ii] Power and Fuel	84.000	100.800	110.900	122.000	128.100	134.500
iv] Direct labour	126.000	151.200	166.300	183.000	192.100	201.700
[Factory Wages and Salaries]
V] Other Manufacturing Expenses	84.000	100.800	110.900	122.000	128.100	134.500
VI] Depreciation	22.000	21.000	20.000	19.100	15.000	12.500
VII] SUB TOTAL [i to iv]	3524.400	4151.100	4565.000	5018.400	5265.000	5524.900
viii] Add : Opening Stocks – in – process	3524.400	4151.100	4565.000	5018.400	5265.000	5524.900
Sub Total
ix] Deduct : Closing Stock – in – Process	3524.400	4151.100	4565.000	5018.400	5265.000	5524.900
x] Cost of production	3524.400	4151.100	4565.000	5018.400	5265.00	5524.900
xi] Add : Opening Stock of finished goods	3.100	96.600	116.400	128.300	141.000	148.100
Sub – total	35.275	42.477	46.813	51.467	5406.000	5673.000
xii] Deduct: Closing Stock – in - finished goods	96.600	116.400	128.300	141.000	148.100	155.400
Sub – total	3430.900	4131.300	4553.100	5005.700	5257.900	5517.600
xiii] Total Cost of Sales
6. Selling general and administrative expenses	504.000	604.800	665.300	731.800	768.400	806.800
7. SUB – TOTAL [5+6]	3934.900	4736.100	5218.400	5737.500	6026.300	6324.400
8. Operation profit before interest [3-7]
9. Interest	265.100	303.900	325.600	360.900	377.000	399.000
Interest and Lease Rent	73.200	58.500	45.300	38.200	33.400	30.700
10. Operating profit after interest [8-9]	191.900	245.400	280.30	322.700	343.600	368.300
Non Operating Expenses	--	--	--	--	--	--
13. Provision for taxes	28.800	36.800	84.100	96.800	103.100	110.500
Profit After Tax	163.100	208.600	196.200	225.900	240.500	257.900
14 [a] Equity Dividend Paid	--	--	--	--	--	--
15. Retained profit [14-15]	163.100	208.600	196.200	225.900	240.500	257.900
16. Retained profit / Net profit [%]	185.200	266.300	216.200	245.000	255.500	270.300

PROJECTED BALANCE SHEET

Rs in Millions

Particulars	Projected
	2008-09	2009-10	2010-11	2011-12	2012-13	2013-14
CURRENT LIABILITIES
01 Short – Term borrowings from banks [including bill purchased, discounted and excess borrowings placed on repayment basis]	250.000	250.000	250.000	250.000	250.000	250.000
I] Cash Credit
Sub Total [A]	250.000	250.000	250.000	250.000	250.000	250.000
02 Short Term Borrowings from others
03 Sundry creditors [Trade]	127.200	80.800	95.700	55.000	44.000	146.900
04 Advance payments from customers  / Deposits from dealers
05 Provision for tax [net of Tax paid]	28.800	36.800	84.100	96.800	103.100	110.500
06 Dividend and Dividend Tax payable
07 other statutory liabilities [due within one year]
08 Deposits / Installments of term loans / DPGs / debentures, etc [due within one year]
09 Other current liabilities and provisions [due within one year]	86.200	88.300	87.000	86.900	50.600	49.300
Sub – Total [B]	242.200	205.900	266.800	238.700	197.700	306.700
10 Total Current Liabilities	492.200	455.900	516.800	488.700	447.700	556.700
TERM LIABILITIES
11 Debentures [not maturing within one year]
Capital Goods – Creditors	13.300	12.800	11.500	10.800	9.200	7.500
12 Deferred Credit From Groups	100.000	100.000	100.000	72.000	60.000	50.000
13 Term loans [excluding installments  payable within one year]	304.800	192.600	81.400	46.100	23.100	--
14 Deferred Sales Tax / Deferred Loan Deferred Payment Credit [Excluding installments due within one year]
15 Term deposit [repayable after one year]
16 other Term Liabilities
17 TOTAL TERM LIABILITIES [Total of 11 to 16]	618.100	505.400	392.900	328.900	292.300	57.500
18 TOTAL OUTSIDE LIABILITIES [10 + 17]	1110.200	961.300	909.700	817.600	740.000	614.200
NET WORTH
19 Ordinary Shares	150.000	150.000	150.000	150.000	150.000	150.000
19 [a] Share application money	8.200	8.200	8.200	8.200	8.200	8.200
20 General Reserve
21 Revaluation Reserve
22 Other Reserves [Excluding provisions]
23 Surplus [+] or deficit [-] in Profit and Loss Account	22.500	231.00	427.200	653.100	893.700	1151.500
Less : Drawings
24 NET WORTH [19+23]	180.700	389.200	585.400	811.300	1051.900	1309.700
25 TOTAL LIABILITIES [18+24]	1290.800	1350.500	1495.100	1629.000	1791.900	1923.900
CURRENT ASSETS
26 Cash and Bank Balance	36.800	51.400	43.700	56.300	64.100	71.700
27 Investments [Other than long term investments] Government and other Trustee securities
I] Fixed deposit with bank	6.000	6.000	6.000	6.000	6.000	6.000
II] Share with Co-operative Bank
28 I] Receivables other than deferred and exports [Including bills purchased and discounted by banks]	331.500	375.000	457.100	543.100	667.600	724.500
II] Export receivables [Including bills purchased / discounted by banks]
29 Instalments of Deferred  receivables [due within one year]
30 Inventory	308.600	312.000	320.000	374.400	420.000	500.000
I] Raw materials [Including stores and other items used in the process of manufacture]
Imported
Indigenous
II] Stock – in – process
II] Finished Goods
IV] Other consumable spares
Imported
Indigenous
31 Advances recordable in Cash or kind
32 Advance payment of taxes [NET]
33 Excise and Sales Tax Refund
Other current assets	2.400	2.400	2.400	2.400	2.400	2.400
A ) Deposits
B ) Loans and Advances	48.500	67.300	104.100	104.100	104.100	104.100
34 TOTAL CURRENT ASSETS [Total of 26 to 33]	733.600	814.100	933.400	1086.300	1264.100	1408.700
FIXED ASSETS
35 Gross Block	747.400	747.400	792.900	792.900	792.900	792.900
36. Depreciation to date	193.800	214.800	234.800	253.900	268.900	281.400
37 NET BLOCK [35-36]	553.600	532.600	558.100	539.000	524.000	511.500
OTHER NON – CURRENT ASSETS
38 Investments / book / debts / advances / deposits which are not Current Assts	3.700	3.700	3.700	3.700	3.700	3.700
I] [a] Others Investments in Subsidiary
[b] Others companies / affiliates
II] Advances to suppliers of capital goods and contractors
III} Deferred receivables [maturity exceeding one year]
IV] Others
39 Non consumables Stores and Spares
40 Other non – current assets including dues from directors	3.700	3.700	3.700	3.700	3.700	3.700
41 TOTAL OTHER NON – CURRENT ASSETS [total of 38 to 40]
42 Intangible assets [Patents, goodwill, prelim, expenses, bad / doubtful debts Not provided for etc.]
43 TOTAL ASSETS [Total of 34, 37, 41 and 42]	1290.900	1350.400	1495.100	1629.000	1791.900	1923.900
44 TANGIBLE NET WORTH [24-22]	180.700	389.200	585.400	811.300	1051.900	1309.700
45 NET WORKING CAPITAL
[17 + 24]-[37+41+42]	241.400	358.300	416.500	597.600	816.500	852.000
to tally with [34-10]	241.400	358.300	416.500	597.600	816.500	852.000
46 Current Ratio  [Items 34/10]	14.900	17.900	18.100	22.200	28.200	25.300

FUNDFLOW STATEMENT

Rs in Millions

Particulars	Projected
	2008-09	2009-10	2010-11	2011-12	2012-13	2013-14
Sources
Net Profit After Tax	163.100	208.600	196.200	225.900	240.500	257.800
Depreciation	22.000	21.000	20.000	19.100	15.000	12.500
Increase in Capital		--	--	--	--	--
Increase in T L		--	--	--	--	--
Increase in Other Liabilities		--	--	--	--	--
Increase in Unsecured Loan		--	--	--	--	--
Decrease in Fixed assets		--	--	--	--	--
Decrease in other Current Assets	5.200	--
Total	190.400	229.500	216.200	245.000	255.500	270.300
Uses
Increase in Fixed Assets
Increase in Non – Fixed Assets
Decrease in Term Loan	144.600	112.700	112.500	63.900	36.700	234.700
Decrease in Unsecured Loan
Decrease in Deferred Tax
Dividend Payment
Total	144.600	112.700	112.500	63.900	36.700	234.700
Long Term Surplus / Deficit	45.800	116.800	58.100	181.000	218.800	35.600
Increase / Decrease in C Assets	171.600	[80.600]	[119.200]	[153.000]	[177.800]	[144.600]
Increase / Decrease in C Liabilities	312.300	36.300	[60.900]	28.100	41.000	[109.000]
Increase / Decrease in W. Capital	[140.700]	[116.800]	[58.300]	[181.000]	[218.800]	[35.600]
Net Surplus / Deficit	[94.900]	0.100	[0.100]	[0.000]	[0.000]	0.000
Increase / Decrease in Bank Borrowings	106.900

Calculation of Debt Services Coverage Ratio	2008-09	2009-10	2010-11	2011-12	2012-13	2013-14
Step A
Net Profit After Tax	163.100	208.600	196.200	225.900	240.500	257.800
Depreciation	22.000	21.000	20.000	19.100	15.000	12.500
Interest on Term Loan	43.200	28.500	15.300	8.200	3.400	0.700
Cash Profit	228.400	258.000	231.500	253.100	258.900	271.000
Step B
Repayment of Term Loan	127.300	112.200	111.200	35.200	23.000	23.100
Interest n Term Loan	43.200	28.500	15.300	8.200	3.400	0.700
Total	170.500	140.700	126.500	43.400	26.400	23.800
DSCR
Step A / Step B	13.400	18.300	18.300	58.300	98.200	113.900
Average DSCR

CASH FLOW STATEMENT

Particulars	2008-09	2009-10	2010-11	2011-12	2012-13	2013-14
1 Cash Flow From Operating Activities
a Profit After Tax	163.100	208.600	196.200	225.900	240.500	257.800
b Depreciation	22.000	21.000	20.000	19.100	15.000	12.500
c Cash Profit [a+b]	185.200	229.500	216.200	245.000	255.500	270.300
2 Change in Working Capital [Other than Bank Borrowing and Cash]
a Decrease in C Assets
b Increase in Current Liabilities			60.900			109.000
c Increase in C Assets	136.400	65.700	126.900	140.400	170.000	137.000
d Decrease in C Liabilities	[64.600]	36.300		28.10	41.000
Changes in Working Capital	[71.800]	[102.000]	[66.000]	[168.500]	[211.100]	[28.000]
[a+b] – [c+d]
3 Cash Flow From investing Activities
A Sale of Fixed Assets
B Sale of Investment
C Total	--	--	--	--	--	--
D Less :	--	--
E Purchase of Fixed Assets	--	--	45.400
F Purchase of Investment	7.600	--	--	--	--	--
G Total	7.600	--	45.400	--	--	--
H Net Cash Flow Investing Activities [d-g]	[7.600]	--	[45.400]	--	--	--
4 Cash Flow From Financing Activities
A Increase in Capital
B Increase in Term Loan
C Increase in Working Capital
D Inflow [a+b+c]
Less :
E Repayment of Term Loan	144.600	112.700	112.500	63.900	36.700	234.700
F Total	144.600	112.700	112.500	63.900	36.700	234.700
H Net Cash Flow From Financing Activities [d-f]	[144.600]	[112.700]	[112.500]	[63.900]	[36.700]	[234.700]
Netincrease in Cash and Cash Equivalents	[38.900]	14.900	[7.800]	12.600	7.700	7.600
[1c+2e+3h+4f]
Cash and Bank bal at the beginning of the year	15.900	[23.000]	[8.200]	[16.000]	[3.400]	4.300
Cash and bank bal at the end of the year	[23.000]	[8.200]	[16.000]	[3.400]	[4.300]	12.000

BUSINESS PROJECTIONS AND DSCR

Particulars	Projected
	2008-09	2009-10	2010-11	2011-12	2012-13	2013-14
Capacity Utilization [%]
Net Sales	4200.000	5040.000	5544.000	6098.400	6403.300	6723.400
PAI	163.100	208.600	196.200	225.700	240.400	257.700
Cash Profit	163.100	208.600	196.200	225.700	240.400	257.700
Add : Interest on IL	43.200	28.500	15.300	8.200	3.400	0.700
Total [A]	206.300	237.100	211.500	233.900	243.800	258.400
Installments due under ILs
Existing ILs	127.300	112.200	111.200	35.200	23.000	23.100
Proposed ILs	0.000	0.000	0.000	0.000	0.000	0.000
Interest on ILs	43.200	28.500	15.300	8.200	3.400	0.700
Total [B]	170.500	140.700	126.500	43.400	26.400	23.800
DSCR [A/B]	12.100	16.900	16.700	53.900	92.300	108.600

DSCR SCENARIOS FOR A COMPANY [AS DISTINGUISHED FROM A PROJECT]

Particulars	Projected
	2008-09	2009-10	2010-11	2011-12	2012-13	2013-14
Scenario for a fall in total Operating Income	10.00 %	10.00 %	10.00 %	10.00 %	10.00 %	10.00 %
% fall in revenue
Total Operating Income [Shocked downwards]	3780.000	4536.000	4989.600	5488.600	5763.000	6051.100
Cost of Sales + SGA	3934.900	4736.100	5218.400	5737.700	6026.400	6324.500
Operating Profit before Interest	[154.900]	[200.100]	[228.800]	[249.100]	[263.400]	[273.400]
Interest	73.200	58.500	45.300	38.200	33.400	30.700
Operating Profit after Interest	[228.100]	[258.600]	[274.100]	[287.300]	[296.800]	[304.100]
Net of non operating Income / Expenses	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	[228.100]	[258.600]	[274.100]	[287.300]	[296.800]	[304.100]
Provision for Tax	[34.200]	[38.800]	[82.200]	[86.200]	[89.100]	[91.300]
PAI	[193.900]	[219.800]	[191.900]	[201.100]	[207.700]	[202.900]

 AS PER WEBSITE

PROFILE

UTTARA FOODS AND FEEDS (UFFPL): Part of the US 650Million US $ Venkateshwara Hatcheries Group – considered the worlds most advanced poultry conglomerate – was set up in 1998 by Mr. B.Venkatesh Rao, the young and unassuming Joint Managing Director of the V.H.Group

Late Padmashri Dr.B.V.Rao’s dream to see India as the top most country on the world’s poultry map, was not only in terms of numbers but also in terms of Quality, Value, Productivity and Management. His dream was to see the country’s poultry sector emerge as one of the major contributors to the rural economy. He wanted the V.H.Group to play a significant role in obtaining handsome returns for the poultry farmers.

To make his father’s dream a reality, Mr. B.Venkatesh Rao, started “Uttara Foods And Feeds” in 1996 by setting up a State-Of-The-Art Plant in Pune to manufacture Pelleted Poultry Feed by importing technology & machinery from Buhler of Switzerland, a firm of international repute in the field of Pellet Feed Technology.

“While thinking of poultry feed, a thought came to the mind to look into the food requirement of the vast majority of human beings. Venky’s has established its strong brand name in terms of Quality of Chicken & Chicken related products. It was felt that the same brand image of Quality, Nutrition and Hygiene could also be extended to the vegetarian class & society as well, so that ‘Venkys’ will have its strong-hold in the market in terms of Quality, Nutrition and Hygiene for the vegetarian population also". quotes Mr. Rao.

Flour Division - Ketkawale

In 2004 UFFPL  diversified production into the FMCG market. This led to the establishment of a new division called UTTARA FOODS with the production of Whole Wheat Chakki Fresh Atta

Biscuit Division - Ranjangaon

In the year 2005, UFFPL surged ahead by setting up a Biscuit Plant at Ranjangaon near Pune, India with a production capacity of 45 MT per day. Premium Quality Soft Dough Biscuits are manufactured here under the Flagship Brand-Name of Venky’s. Our products have also got presence in the International Market.

MANAGEMENT

MRS. ANURADHA J DESAI

Chairperson of the entire V.H.Group, is also the one of the directors of Uttara Foods & Feeds Pvt Ltd. She has to her credit a vast experience of the Poultry Industry i.e. an experience of more than 25 years and that too in association with the legendary personality of her father Dr.B.V.Rao.

She was instrumental in hosting the World Poultry Congress in 1996 in New Delhi and was the first woman president of the World Poultry Science Associaton.

MR. B VENKATESH RAO

Managing Director of Uttara foods and Feeds Pvt Ltd. (UFFPL). To make his fathers dream a reality Mr. B.Venkatesh Rao started Uttara Foods and Feeds, a State-Of-The-Art unit in Pune to manufacture Pelleted Poultry Feed by making use of technology from Buhler of Switzerland.

With Mr. B.Venkatesh Rao at the helm of affairs, UFFPL diversified into products for human consumption like whole wheat atta, biscuits, olive oil, pasta etc.in the year 2003.

MR. B. BALAJI RAO

Managing Director of Venkys (India) Ltd. is also one of the directors of Uttara Foods & Feeds Pvt Ltd. Under his dynamic leadership Venkys (India) Ltd was the first company of the V.H.Group to go public in 1988.

In spite of having a huge responsibility to shoulder at a very young age, this dynamic personality has proved to be very successful in contributing to the overall growth of the poultry industry.

MR. JITENDRA DESAI

Managing Director of Venkateshwara Research & Breeding Farm Pvt. Ltd. (VRB) is one of the directors of Uttara Foods & Feeds Pvt. Ltd, VRB is a joint venture with ISA Babcock USA, for undertaking pure-line breeding work of BV300 Layer parent chicks suited to the Indian Agro-Climatic and Climatic conditions.

VRB has a state-of-the-art laboratory and the latest generation computers and the most modern facilities for genetic research.

EXPORTS

ATTA PRODUCT MIX

COUNTRY	PRODUCTS	Net. Wt. in kgs / Ibs
USA / Canada	Venkys Atta	10lbs / 20lbs
U K	Venkys Atta	5kg / 10kg / 32kg
MIDDLE EAST	Venkys Atta	1kg / 2kg / 5kg / 10kg
AUSTRALIA	Venkys Atta	1kg / 2kg / 5kg / 10kg

BISCUITS PRODUCT MIX

COUNTRY	PRODUCTS	Net. Wt. in gms / kgs
USA / Canada	Glucose	100gms
AFRICA	Glucose / Milk & Malt / Milk & Honey / Nice	65gms / 100gms
MIDDLE EAST	Glucose / Milk & Malt / Milk & Honey / Nice	65gms
AUSTRALIA	Glucose	100gms

COUNTRY	CREAMY BISCUITS	Net. Wt. in gms / kgs
USA - Canada	Chocolate / Orange / Mango / Strawberry	100gms
AFRICA	Chocolate / Banana / Mango / Strawberry / Vanilla / Orange	40gms / 70gms / 100gms
MIDDLE EAST	Chocolate / Banana / Mango / Strawberry / Vanilla / Orange	40gms / 70gms / 100gms
AUSTRALIA	Chocolate / Mango / Strawberry / Orange / Vanilla	100gms

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.44.28
UK Pound	1	Rs.86.62
Euro	1	Rs.58.32

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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
TOTAL		47

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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