MIRA INFORM REPORT

Report Date :

14.04.2011

IDENTIFICATION DETAILS

Name :	SRI BIOTECH LABORATORIES INDIA LIMITED
Formerly Known As :	SRI BIOTECH INDIA PRIVATE LIMITED
Registered Office :	“Biosphere”, Plot No.21, Sagar Society, M.H. No.8-2-269/5/21, Road No.2, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	13.10.2006
Com. Reg. No.:	01-050060
CIN No.: [Company Identification No.]	U24239AP2006PLC050060
TAN No.: [Tax Deduction & Collection Account No.]	HYDS18479G
PAN No.: [Permanent Account No.]	AAKCS6296B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Trader of Agricultural Fertilizer and Pesticides.

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 4139000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track. General financial position of the company is good. Trade relations are fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Ms. Sarita
Designation :	HR Department
Date :	08.04.2011

LOCATIONS

Registered/ Corporate Office/ Factory 1 :	“Biosphere”, Plot No.21, Sagar Society, M.H. No.8-2-269/5/21, Road No.2, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India
Tel. No.:	91-40-64642789/ 32580685/ 23701153
Fax No.:	91-40-23702823
E-Mail :	ramesh@sribio.com infosribio@gmail.com sribio@gmail.com vvmsrao@sribio.com
Website :	www.sribio.com
Location :	Owned
Factory 2 :	Plot No.1-3, 16-18, Phase-Il, Pashamylaram, Patancheru-Mandal, Medak District, Andhra Pradesh, India
Factory 3 :	SY No.195, 196, Komepadu Village, Vatticherukuru-Mand, Guntur-District, Andhra Pradesh, India
Branch Office :	8-3-166/6 and 7, Flat No.211, Bhavya’s Sree Arcade, Erragadda, Hyderabad – 560 018, Andhra Pradesh, India
R and D Centers :	Pashamylaram, Nadigama, Tangutur, Guntur, Kurnool and Ballery

DIRECTORS

As on 30.09.2009

Name :	Dr. Kondamadugula Ramakoti Reddy
Designation :	Chairman and Managing Director
Address :	8-3-315/9/A, Plot No.24, Maruthi Nagar, Yousufguda, Hyderabad, Andhra Pradesh, India
Date of Birth/Age :	15.07.1967
Date of Appointment :	13.10.2006
DIN No.:	00259576
Name :	Ms. Anuradha Konda Madugula
Designation :	Director
Address :	8-3-315/9/A, Plot No.24, Maruthi Nagar, Yousufguda, Hyderabad, Andhra Pradesh, India
Date of Birth/Age :	02.06.1968
Date of Appointment :	13.10.2006
DIN No.:	02128286
Name :	Annapa Reddy Prakash Reddy
Designation :	Whole-Time Director
Address :	Plot No.33, Siddartha Nagar, Near A.G.S. Colony, Hyderabad – 500 038, Andhra Pradesh, India
Date of Birth/Age :	15.03.1959
Date of Appointment :	12.08.2009
DIN No.:	02592019
Name :	Dr. Vijay Dilbagh Rai
Designation :	Director
Address :	207, New Bake House, 12, MCC Lane, Fort, Mumbai – 400 001, Maharashtra, India
Date of Birth/Age :	13.10.1946
Date of Appointment :	26.03.2009
DIN No.:	00075837
Name :	Mr. Rajesh Kumar Srivastava
Designation :	Director
Address :	S-376, Ground Floor, Panchshila Park, New Delhi – 110 017, India
Date of Birth/Age :	20.03.1957
Date of Appointment :	02.03.2009
DIN No.:	00302223
Name :	Mr. Suneet Gupta
Designation :	Director
Address :	A-44, Second Floor, Defence Colony, New Delhi – 110 024, India
Date of Birth/Age :	20.02.1970
Date of Appointment :	02.03.2009
DIN No.:	01653720
Name :	Professor Bir Bahadur
Designation :	Director
Address :	The Odyssey-4A, 10-2-289/46, Shanthinagar, Masab Tank, Hyderabad – 500 028, Andhra Pradesh, India
Date of Birth/Age :	05.04.1938
Date of Appointment :	24.03.2008
DIN No.:	02130067
Name :	Dr. Yemmiganur Ramalinga Sarma
Designation :	Director
Address :	M10-5,
Date of Birth/Age :	12.05.1942
Date of Appointment :	24.03.2008
DIN No.:	02130792
Name :	Ms. Annapa Reddy Padma Sireesha
Designation :	Director
Address :	Plot No.33, Siddartha Nagar, Near A.G. Colony, Hyderabad, Andhra Pradesh, India
Date of Birth/Age :	15.07.1965
Date of Appointment :	24.03.2008
DIN No.:	02143924
Name :	Mr. Utpal Sen Gupta
Designation :	Director
Address :	P-411, G Block, Ground Floor, New Alipore, Kolkatta – 700 053, West Bengal, India
Date of Birth/Age :	05.10.1949
Date of Appointment :	26.03.2009
DIN No.:	02577237
Name :	Gottumukkala Lakshmi Narasimharao
Designation :	Director
Address :	H.No.8-3-315/9/A, Plot No.24, Maruthi Nagar, Yousufguda, Hyderabad, Andhra Pradesh, India
Date of Birth/Age :	22.02.1941
Date of Appointment :	16.07.2008
Date of Ceasing :	26.03.2009
DIN No.:	02296941
Name :	Mr. Koteshwar Bommakanti
Designation :	Director
Address :	16-10-1433, Shivanagar, Warangal – 506 002, Andhra Pradesh, India
Date of Birth/Age :	09.11.1961
Date of Appointment :	16.07.2008
Date of Ceasing :	26.03.2009
DIN No.:	02270978
Name :	Mr. Prabhu Chendurpandan
Designation :	Alternate Director
Address :	B-11, Kakateeya Apartments, Plot No.86, Patparganj, IP Extension, New Delhi – 110 092, India
Date of Birth/Age :	01.06.1973
Date of Ceasing :	12.11.2010
DIN No.:	02179583

KEY EXECUTIVES

Name :	Ms. Sarita
Designation :	HR Department
Name :	Tamada Kamala Kumari
Designation :	Company Secretary
Address :	16-1-472, Saidabad, Hyderabad, Andhra Pradesh, India
Date of Birth/Age :	27.05.1980
Date of Appointment :	16.07.2008
PAN No.:	AHQPT5498L
Name :	Sharath Chandra Kusumba
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2009

Names of Shareholders (Equity Shares)	No. of Shares
K.R.K. Reddy	4442224
K. Anuradha	5043349
A. Padma Siressha	26250
K. Rami Reddy	26250
K. Ramanamma	26250
G. Santha Kumari	26250
A. Rahul Reddy	26250
J. Divakar	29938
A.J. Forsyth	21065
Vinuthna Reddy	113900
Sri Varshitha Reddy	129320
Total	9911046

Names of Shareholders (Preference Shares)	No. of Shares
India Agri Business Fund Limited, Mauritius	22421250
Real Trust, India	78750
Total	22500000

As on 13.11.2009

Names of Allottees (Equity Shares)	No. of Shares
India Agri Business Fund Limited, Mauritius	4750769
Real Trust, India	16686
Total	4767455

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Agricultural Fertilizer and Pesticides.
Products :	Biofertilizers Biopesticides Biocontrol Agents Seaweed Liquid Fertilizers Organic Manures Plant Growth Stimulants Herbal Based Fungicides and Insecticides Bio Herbicide Repellants and Probiotics Bioremediates
Terms :
Selling :	Depend
Purchasing :	Depend

GENERAL INFORMATION

Customers :

Wholesalers and Research Institutions

No. of Employees :

387 (Approximately)

Bankers :

• Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India
• Axis Bank
• Punjab National Bank
• Allahabad Bank
• State Bank of Hyderabad

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Banks Term Loan (Secured by hypothecation of fertilizer unit under NABARD, existing and future machinery and equitable mortgage of corporate office). [amount repayable within one year Rs.0.906 million (previous year: Rs.0.503 million)]	3.722	4.225
From Others Term baa from Technology Development Board (Secured by hypothecation of movable and immovable property of the project and by personal guarantee of Directors, Dr. KRK Reddy and Anurudha Reddy. One of the Directors has pledged 250000 equity shares of Rs.10 each of the Company in favour of Technology Development Board)	37.500	11.000
Working capital loans (Secured by hypothecation of Inventory, book debts, movable fixed assets, land, residential flats and by personal guarantee of Directors, Dr. KRK Reedy and Anuradha Reddy)	0.000	22.327
Total	41.222	37.552

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Banks [amount repayable with in one year Rs.2.238 millions (previous year: Rs.2.184 millions)]	2.833	5.017
Term loam from other than banks [Amount repayable within one year Rs.1.193 millions (previous year: Rs.2.182 millions)]	1.193	2.182
Total	4.026	7.199

Banking Relations :	--
Auditors :
Name :	B.S.R. and Associates Chartered Accountants
Address :	8-2-618/2, Reliance Humsafar, 4^th Floor, Road No.11, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India
Tel. No.:	91-40-30465000
Fax No.:	91-40-30465299
Memberships :	AP Pesticides Formulation Association and AP Seeds Association
Associates/Subsidiaries :	Sri Bio Remedies Private Limited CIN No.: U01110AP1997PTC026890

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 millions
22500000	0.01% Cumulative Compulsorily Convertible Preference Shares	Rs.10/- each	Rs.225.000 millions
	Total		Rs.375.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14678501	Equity Shares	Rs.10/- each	Rs.146.785 millions

Of the above 6600000 equity shares of Rs.10/- each have been issued as fully paid bonus shares by way of capitalization of share premium account.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		146.785	324.110	33.000
2] Share Application Money		27.101	47.028	11.892
3] Reserves & Surplus		860.758	513.031	200.513
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1034.644	884.169	245.405
LOAN FUNDS
1] Secured Loans		41.222	37.552	18.763
2] Unsecured Loans		4.026	7.199	6.500
TOTAL BORROWING		45.248	44.751	25.263
DEFERRED TAX LIABILITIES		35.156	24.792	2.941
TOTAL		1115.048	953.712	273.609
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		378.437	247.393	135.298
Capital work-in-progress		93.638	63.945	19.536
INVESTMENT		9.906	9.906	22.972
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	157.569	111.491	54.931
	Sundry Debtors	266.893	187.424	75.957
	Cash & Bank Balances	256.977	450.793	7.590
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	64.002	41.727	11.334
Total Current Assets		745.441	791.435	149.812
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	57.889	95.540	30.523
	Other Current Liabilities	39.597	45.279	11.542
	Provisions	14.888	18.148	11.944
Total Current Liabilities		112.374	158.967	54.009
Net Current Assets		633.067	632.468	95.803
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1115.048	953.712	273.609

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	757.470	655.887	415.785
		Other Income	29.702	4.400	0.220
		TOTAL (A)	787.172	660.287	416.005
Less	EXPENSES
		Material Consumed	403.477	293.107	224.963
		(Increase)/ Decrease in inventories of finished goods and work in progress	(23.624)	8.895	0.000
		Purchase of traded goods	0.000	6.234	0.000
		Personnel Costs	30.717	27.087	17.042
		Manufacturing, Administrative and Selling Expenses	83.125	74.952	69.360
		Research and Development Expenses	34.971	35.298	12.816
		Prior Period Expenses	0.000	0.150	0.000
		TOTAL (B)	528.666	445.723	324.181
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		258.506	214.564	91.824
Less	FINANCIAL EXPENSES (D)		5.518	6.042	1.660
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		252.988	208.522	90.164
Less/ Add	DEPRECIATION/ AMORTISATION (F)		18.177	9.501	4.381
	PROFIT BEFORE TAX (E-F) (G)		234.811	199.021	85.783
Less	TAX (H)		60.190	47.380	12.886
	PROFIT AFTER TAX (G-H) (I)		174.621	151.641	72.897
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		238.067	86.426	NA
	BALANCE CARRIED TO THE B/S		412.688	238.067	NA
	IMPORTS
		Raw Materials	NA	2.446	--
	TOTAL IMPORTS		NA	2.446	--
	Earnings Per Share (Rs.)
	- Basic		14.89	16.13	22.09
	- Diluted		14.54	2.95	28.90

Expected Sales (2010-2011): Rs.1000.000 millions

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	22.18	22.97	17.52
Net Profit Margin (PBT/Sales)	(%)	31.00	30.34	20.63
Return on Total Assets (PBT/Total Assets}	(%)	20.89	19.16	30.09
Return on Investment (ROI) (PBT/Networth)		0.23	0.23	0.35
Debt Equity Ratio (Total Liability/Networth)		0.15	0.23	0.32
Current Ratio (Current Asset/Current Liability)		6.63	4.98	2.77

LOCAL AGENCY FURTHER INFORMATION

Note:

The registered office of the company has been shifted from Flat No.211, Sree Arcade, 2^nd Floor Bata Complex Erragadda, Hyderabad – 500 018, Andhra Pradesh to the present address w.e.f. 27.12.2010.

RESULTS OF THE OPERATIONS:

The seasons during the year were marked with fluctuating climatic conditions, the major agricultural areas in the country witnessed one of the worst droughts, this effected Agriculture sector adversely. Even though there was reduction in the off take of cereal crops, the Company was able to maintain a modest growth by increasing sales.

During the year, the company was shown a healthy performance as the sales turnover has increased to 787.172 millions as against 660.287 millions of the previous year, representing an increase of over 19.22%.

During the year, the Company has developed production centre and expanded the current production facility centre to meet the future targets.

INCREASE OF AUTHORIZED CAPITAL:

The Company had taken the approval for increasing the Authorized Capital from 325.000 millions to 375.000 millions and accordingly increased the Authorized Capital.

CONVERSION OF PREFERENCE SHARES INTO EQUITY SHARE:

During the year the Company has converted CCPs into full paid equity shares and in that connection issued 477,455 Equity shares of 10/- each to preference shareholders of the company.

OPERATIONS REVIEW:

The accomplishment during this endeavor is that, the Pashamvlaram Unit which is established in 2 acres of land containing R and D and Production Centre was come into full operation and started its operations.

Further to that they successfully inaugurated their NPK Unit situated at Guntur Plant in July month of 2010. This is establish with the production capacity of 10000000 MT per annum. This unit established for Granulated physical mixtures of NPK and Granulated micro fertilizers arid Organic manures. The revenue through this plant will be obtained in the financial year 2010-11.

During the year the Company has introduced three new bio-products by name GRANT, NEMOTAX and Pseudomonas Fluoresces 1% which is well received by the market.

During the current year the Company has penetrated its business in new states viz, Uttar Pradesh, Bihar, Gujarat, West Bengal and Chhatisgarh by setting up of network of marketing teams and these efforts will give its fruits to the revenue in the coming fiscal year, SRIBIO is on the cusp of a major expansion and diversification of its business model which will propel it into a new orbit in terms of size, diversity and performance bench marks.

SEED DIVISION:

During this year company is enormously widened its seed division by increasing its products range. Presently the total number of products under seed division are 40 as compared to the total number of products are 5 in the previous year. The revenue contributed by this division is Rs.95.300 millions which is around 10% of the total revenue of the company.

During this endeavor, they got a technology transfer from DRR in connection with the Improved Samba Mahsuri a novel seed variety, which is the output of their research. They are herewith authorized to multiply that seed and market the same. It is great opportunity to create a brand image in the market for their seed division.

EXPANSION OF MARKETING NETWORK:

Based on the reputation of their company in the market, the dealers’ network is increase year by year. The Company added over 910 new dealers, which also include large corporations. In result of this the total dealers under their umbrella comes to 3135 all over India.

The company entered in to various C and F Agreements with various agents to meet the expansion plans in the states as mentioned below;

· Uttar Pradesh

· Bihar

· West Bengal

· Rajasthan

And the Board is looking forward to establish the control system to systemize the Logistics.

LICENSES AND REGISTRATIONS:

Company has registered 10 products under Organic Certification by APEDA through VEDIC Organic Certification Agency Further to that, 12 products are registered under The Insecticides Act, 1968

PROJECTS:

The activities of the company in R and D Programs and ongoing projects under various schemes are as follows:

a. SBIR-Department of Biotechnology Ministry of Science and Technology. Government of India titled “Production. Formulation and Commercialization of Microbial Agents for Weed Management in Rice (Oryza Sativa L.)”

b. Technology Development Board, Ministry of Science and Technology, New Delhi-Project entitle “Novel formulation of Bio-pesticides Bio-nematicide and Plant Growth Promoting Rhizohacteria for Sustainable Crop Management”

c. Biotech Consortium of India Limited, associated with Department of Biotechnology as a part of “Biotech Industrial Training Program” (BITP, Under this scheme ever year their company creating industrial awareness to fresh Biotech graduates.

d. BIPP (Biotech Industrial Partnership Program), A collaborative Project between Sri Biotech and University of Delhi South Campus Project entitled “Development of Transinic brinjal resistant to fruit borer (Leucinodes orbanilis Gunee) through RNA interference”

LIQUIDITY:

The Company has always maintained sufficient cash to meet its strategic objectives. Liquidity in the balance sheet needs to balance between earning adequate returns and the need to cover financial and business commitments. Liquidity also enables the Company to make a rapid shift in direction, should the market so demand. During the year the internal cash accruals have adequately covered the working capital requirements and also a part of the company’s expansion plans.

BRANDS, TRADEMARKS:

The Company has allotted over 64 trademarksTM and many were granted registration.

PATENTS:

The Company got the first patent registration for outcome of its research through its Research and Development Center. The patent for which they got the registration is “Cost Effective Protocol for large scale production of Bacillus sp as Plant Growth Promoting Rhizohacteria”. Further the process of filing the application for the registration of 4 mores patents are in the process.

FORM 8:

Corporate identity number of the company	U24239AP2006PLC050060
Name of the company	SRI BIOTECH LABORATORIES INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	Flat No.211, Sree Arcade, 2^nd Floor Bata Complex Erragadda, Hyderabad – 500 018, Andhra Pradesh, India E-Mail: sribio@gmail.com
This form is for	Modification of charge
Charge identification number of the modified	10108930
Type of charge	Book Debts Movable Property Floating Charge Others (Current Assets, Stocks, present and future)
Particular of charge holder	CIN No.: L65190MH2003PLC143249 Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India E-Mail: dlbbcadsouth@yesbank.in
Nature of description of the instrument creating or modifying the charge	Supplemental Deed of Hypothecation
Date of instrument Creating the charge	27/09/2010
Amount secured by the charge	Rs.200.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: CC: 4% above YBL Base Rate (BR) i.e. 11% p.a. WCDL: 3.5% above BR i.e. 10.5% p.a. LC: 1.5% p.a., BG: 1.5% p.a. YBL BR on 27^th September 2010 is 7%p.a. YBL BR is now 7.5% p.a. Terms of Repayment : Unless Demanded earlier Cash Credit ( CC): Annual Review Working Capital Demand Loan (WCDL): 60 days Bank Guarantee: (BG): 36 months Letter of Credit (LC): Usance: 180 days Margin: CC/WCDL:25% on (Book debts below 90 days minus Creditors) Extent and Operation of the charge: Exclusive charge on entire current assets both present and future for INR 200.000 millions. Charge on Immovable Property already registered with the ROC in the form Memorandum of Equitable Mortgage by Deposit of title deeds as per the original deeds.
Short particulars of the property charged	Exclusive charge on the entire current assets of the company both present and future
Date of latest modification prior to the present modification	04/05/2009
Particulars of the present modification	Charge on the entire current assets of the company both present and future being increased from INR 50.000 millions to INR 200.000 millions. Existing charge on the Land at Survey no 147, Nandigama Village, under Nandigama gram panchayat, Patancheru Mandal, Hyderabad, Andhra (Existing Property mortgaged with them) assets remain at INR 50.000 millions.

TRADE REFERENCES:

· IIIM – Kashmir

· E and R Institute

FIXED ASSETS:

· Land

· Buildings

· Plant and Machinery

· Lab Equipment

· Furniture and Fixtures

· Vehicles

· Computers

· Electrical Equipments

WEBSITE DETAILS:

PROFILE:

• Is a hub of innovative technologies and promising products with principal domain in Agriculture, Health Care and Environmental Safety.

• Is a globally respected, multidisciplinary, biotech organization origin with its humble beginning in 1994 and taking its pursuit of noble ends to new frontiers.

• Is built on innovation and technology and creative strategies to accelerate product development.

• Comprises of strong national and international partnerships, technological tie – ups, strategic alliances working under common goals of empowering the farming community and improving human lives through safe environment.

• Is a value driven organization with its increasingly strong pipelines and product approvals that are translating and improving financial metrics and the value chain of the organization.

• Is accredited with distinguished awards and recognitions from the government of India for its hallmark performance and is well poised for an aggressive growth in the focused area of business.

• Is Knowledge-driven, customer-focused, and backed by a D and B credit rating.

Milestones:

1994

• Founded.

1997

• Established the first biocontrol laboratory in Andhra Pradesh.

2000

• Established the integrated R and D centre.

2001

• Installed first ever fermentation facility.

2003

• Recipient of AIMO’s Best Biotechnology Industry Award.

• Recognition of R and D centre by DSIR, Ministry of Science and Technology    Govt. of India.

• Secured ISO 9001:2000 certification for quality management.

2004

• Developed the first ever PGPR based product.

• Recipient of FAPCCI’s Best New Product Innovation Award.

• Establishment of R and D for Seed Research.

2005

• Recipient of National Biotech Award from Ministry of Science and Technology, Government of India.
• Recipient of AIMA National Award from President of India for creativity and Innovation.

• Recipient of “Pearl of Andhra Pradesh” Award from A. P. Government for Product launching PGPR’s.

2006

• Promoted “Viswas” a retail chain of one stop shops for agri inputs and    services.

• Marketing and JV tie up with Global corporate located in Kenya.

2007

• Product launching Sribeej brand seeds.

• MOU With NIPA Trading International, Bangladesh for marketing.

• Received award from Plant Protection Association of India.

2008

• Acquired land in Biotech Park Phase III (APIIC) at karakapatla.

Infrastructure

Production centre at Kukatpally, Hyderabad, A. P.:

SriBiotech has its owns a manufacturing unit at Kukatpally, Hyderabad with massive production capacities which is well equipped with all infrastructural facilities viz., a discovery centre especially nutritional plant, biorational and botanical extraction unit, fermentation facilities, formulation and packing units.

Integrated R and D Centre at Kukatpally, Hyderabad, A. P.:

SriBiotech has its owns a separate block comprising of an Integrated Research and Development centre. comprising facilities for isolation and characterization of agriculturally prominent microbes. SOP’s for solid/liquid state fermentation, Bio-efficacy studies, bioremediation studies, toxicological studies, formulation and product development.

Production Centre at Pashamylaram, Hyderabad, A.P.:

SriBiotech has established its own production centre in 1.55 acres at Pashamylaram, Medak District allotted by Government of Andhra Pradesh and is establishing an highly integrated production unit for manufacture of agricultural products viz. biological, organics, Micro fertilizers with production capacities of 10000 MT of powder form, 5000 KL in liquid form and 10000 MT in granule form. The aforesaid centre will be operated from financial year 2008-09.

Production Centre at karakapatla, Medak District, A.P.:

SriBiotech has acquired Land of 10 acres at karakapatla, Medak District allotted by Government of Andhra Pradesh and is establishing highly integrated Discovery Lab for research in Health Care and Environment Safety and production of therapeutics, metabolites, vector control, Phyto remediation, Residue management and waste utilization products.

Research farm at Patancheru, Ranga Reddy District, A.P.

SriBiotech has acquired Land of 8 acres at Patancheru, Ranga Reddy District and has developed a Research Farm and a Production Center for manufacture of agricultural products viz., Enriched Manures with production capacities of 30000 MT.

Seed Processing farm at Guntur District, A.P.:

SriBiotech has acquired Land of 1.5 acres in Guntur District and is establishing a Seed Processing Farm with a production capacities of 5000 MT.

Awards and Recognitions:

SRIBIO was awarded

• BS EN ISO 9001-2000 for production of Probiotics, bio–pesticides, bio- fertilizers and bio-remediation products vide Certificate Number: 18078, dated 28th June 2004 valid till 10th December 2010.

• ISO 90001:2000 for production of probiotics, bio-pesticides, bio-fertilizers and bio- remediation products vide Certificate Number: Q/0065, dated 23rd December 2006 valid till 10th September 2010.

• All India Management Association (AIMA) - GOLDEN FOUNDATION DAY AWARD for “Creativity and innovation ”received from his Excellency Dr A. P. J. Abdul Kalam, Former President of India in the year, 2006.

• “PEARL OF ANDHRA PRADESH”award from GOVERNMENT OF ANDHRA PRADESH for the year 2006.

• DSIR ( Department Of Scientific And Industrial Research, Ministry Of Science And Technology, Government Of India) NATIONAL AWARD for Research and Development efforts in Biotechnology for the year 2005 awarded by Dr. R.A. Mashelkar, Director General CSIR, Government Of India.

• “ BEST NEW PRODUCT INNOVATION” Award from Federation Of Andhra Pradesh Chambers Of Commerce And Industry (FAPCCI) for the year 2003 awarded by H.e. Dr. Y.S. Rajashekar ReddyHon’ble Chief Minister of Andhra Pradesh.

• “BEST BIOTECHNOLOGY INDUSTRIAL AWARD”from All India Manufacturers Organization (AIMO) year 2002 award by H. e. Dr. C. Rangarajan Hon’ble Government of Andhra Pradesh.

• RECOGNITION OF IN-HOUSE R and D UNIT from Government of India Ministry of Science and Technology vide Certificate Number – F. No. TU/IV- RD /2358/2005 dated 22^nd March 2005 valid till 31st March 2009.

CREDIT RATING

• SE 2 A Performance and Credit Rating from N S I C and D and B vide D and B D-U-N-S® NUMBER 65-033-8556 indicating HIGH PERFORMANCE CAPABILITY and HIGH FINANCIAL STRENGTH.

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 records 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.44.48
UK Pound	1	Rs.72.37
Euro	1	Rs.64.42

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		51

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.