MIRA INFORM REPORT

Report Date :

26.08.2011

IDENTIFICATION DETAILS

Name :	RICH PHYTO CARE PRIVATE LIMITED
Registered Office :	Flat No. E, Arpotha’s Apartment, B- Bank Street, Kil Pauk, Chennai – 600 010, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.04.2004
Com. Reg. No.:	18-53123
Capital Investment / Paid-up Capital :	Rs. 23.917 Millions
CIN No.: [Company Identification No.]	U24129TN2004PTC053123
TAN No.: [Tax Deduction & Collection Account No.]	MRIR00884C
PAN No.: [Permanent Account No.]	AACCR8543G
Legal Form :	Private Limited Liability Company
Line of Business :	To manufacture and process agriculture inputs like fertilizers, insecticides, sales and consultancy services

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small

Maximum Credit Limit :	USD 100000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a well established company having moderate track. Profitability of the company appears to be low. However trade relations are reported as fair. Business is active. Payments are reported to be slow. Company can be considered for business dealings with some caution.

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

LOCATIONS

Registered Office :	Flat No. E, Arpotha’s Apartment, B- Bank Street, Kil Pauk, Chennai – 600 010, Tamil Nadu, India
Tel. No.:	91-4546-285887
E-Mail :	rameshchandran@yahoo.com richmanager1@gmail.com rkba1301@rediffmail.com
Factory :	15-1-1, Thasilthar Office Road, Kannur – 625 513, India
Telephone:	91-4546-285887
Fax:	91-4546-284167

DIRECTORS

AS ON 30.08.2010

Name :	Mr. Ramesh Chandran Devendranathan
Designation :	Managing Director
Address :	12 D, Thendral Nagar West Street, Bodinayakanur, Theni – 625 513, Tamil Nadu, India
Date of Birth/Age :	01.06.1964
Date of Appointment :	30.04.2004
DIN No :	01994649
Name :	Mrs. Subathra Ayyappan
Designation :	Director
Address :	12 C Thendral Nagar West Street, Bodinayakanur, Theni – 625 513, Tamil Nadu, India
Date of Birth/Age :	28.04.1960
Date of Appointment :	30.04.2004
DIN No :	02420446
Name :	Mrs. Uma Rameshchandran
Designation :	Director
Address :	Old No New No.12 Thendral Nagar, Bodinayakanur, Theni – 625 513, Tamil Nadu, India
Date of Birth/Age :	24.10.1964
Date of Appointment :	30.04.2004
DIN No :	02435437
Name :	Mr. Mugundan Raghavan
Designation :	Director
Address :	104, Alamarathu Street, 1^st Street, Kambam Uthamapalayam, Theni – 625 516, Tamil Nadu, India
Date of Birth/Age :	14.05.1969
Date of Appointment :	30.04.2004
DIN No :	02463650
Name :	Mr. Balaraja Kottimukkalur Sarvesuara
Designation :	Director
Address :	770, Madurai Road (Gandhi Road), Theni DT, Theni – 625 531, Tamil Nadu, India
Date of Birth/Age :	21.11.1981
Date of Appointment :	30.04.2004
DIN No :	01953715
Name :	Mr. Subramaniam Narayanan
Designation :	Director
Address :	Flat No. E Arputhas Apartment, B- Bank Street, Kil Pauk, Chennai – 600 010, Tamil Nadu. India
Date of Birth/Age :	17.04.1965
Date of Appointment :	30.04.2004
DIN No :	00827254
Name :	Mr. Karthik Somasundaram
Designation :	Director
Address :	Door No. 20 Alamarathupatti Street, Bodinayakanur, Theni – 625 513, Tamil Nadu, India
Date of Birth/Age :	30.11.1970
Date of Appointment :	21.04.2005
DIN No :	02420430

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.08.2010

Names of Shareholders	No. of Shares
Ramesh Chandran Devendranathan	46425
Subramaniam Narayanan	37281
Balaraja Kottimukkalur Sarvesuara	26825
Karthik Somasundaram	10585
Subathra Ayyappan	34200
Uma Rameshchandran	45300
Mugundan Raghavan	17756

AS ON 31.03.2010

Names of Allotted	No. of Shares
D Ramesh Chandran	46425
T Subathra	34200
R Uma	45300
T S K R Mughuthan	17756
K S Balaraja	26825
S Narayanan	37281
N Ahamed	21775
T Mohan	31700
S Karthik	10585
T S K R Gugan	17756
G Kumaran	26145
V Manon Mani	16000
M Venkatalakshmi	17100
G Indumathi	17100
K S Rathika	35650
T Subramaniyan	5000
Chandra	5000
Jayakarthikeyani	5000
N Shekila Banu	1850
Abdul Kareem	7500
Mumtaj Becum	7500
S Manoharan	6840
M T Iyyappan	38063
Total	478351

AS ON 30.08.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

To manufacture and process agriculture inputs like fertilizers, insecticides, sales and consultancy services.

GENERAL INFORMATION

Suppliers

· Balasubramani

· Beijing Multigrass Form, Lation Company Limited

· East Coast Seaweed INC

· Jai Krishna Packaging Industries

· Lima East Limited

· Lima Europe N. V. Belgium

· Perfect Plastic Products Private Limited

· Professional Freight Logistics

· R Screen

Customers :

· Thiruvallur Agri Department

· Agri Marketing

· A. Mohan

· Suresh

· Choice Agro Tech

· Dr. Lakshmi ananth

· Green Agro

· Imanudeen Ad

· Muthugovindan

· Sarveswararaja

· Tr. Ramanathan

· Theni Area

Bankers :

· State Bank of India, No. East Market Street, Periyakulam Road, Theni – 625 531, Tamilnadu, India

· Canara Bank

· Union Bank of India

· ICICI Bank

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Sundaram Finance	0.000	1.105
Sundaram Finance Bolero	0.096	0.000
Sundaram Finance Incica V2	0.135	0.000
Sundaram Finance Innova	0.188	0.000
Sundaram Finance Swift	0.241	0.000
Sundaram Finance Xylo	0.308	0.000
Canara Bank Loan	0.000	0.326
ICICI Bank Loan	0.000	0.226
Total	0.968	1.657
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
DDRC	0.000	0.425
Dr. Mtii	0.000	0.200
D. Ramesh Chandran	0.425	0.000
Dr. M T. Lyyappan Loan	0.200	0.400
G Kumaran	1.000	1.000
K Arulmozhi Kothai	0.000	0.750
K S Anandhi	1.200	1.200
K S Balaraja	1.400	1.400
K S Rathika	0.000	1.200
K Nihila	0.000	0.500
Pankajam (Rtg) Loan	0.500	0.500
S Karthik	0.750	0.750
S Manoharan	0.500	0.000
S Raja	1.200	1.200
T. Mohan	0.300	0.300
T. Subatra	0.300	0.300
Uma	0.500	0.500
Palani Andavar	0.200	0.200
Pa Ravinthiran	1.600	0.606
R Uma	0.050	0.050
R Vasantha	1.000	0.000
Sarguru Developers Private Limited	5.000	0.000
D Ravichandran	2.000	0.000
Manoharan	0.500	0.500
Loan (Director Shareholder) Dealer Deposit	3.919	0.000
Karthick	0.000	0.250
S Naayanan	0.000	0.250
T. Subatra I	0.000	0.250
Uma R	0.000	0.250
T. Subatra	0.000	0.300
Dealer Deposits	0.000	0.189
Total	22.544	13.470

Banking Relations :	--
Auditors :
Name :	N. P. Haroun Rasheed Chartered Accountant
Address :	12-A, Rathinasamy Nadar Road, B. B. Kulam, Madurai-625002, Tamil Nadu, India

CAPITAL STRUCTURE

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
600000	Equity Shares	Rs.50/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
478351	Equity Shares	Rs.50/- each	Rs. 23.917 Millions

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		23.917	19.134	14.440
2] Share Application Money		0.000	0.000	5.017
3] Reserves & Surplus		2.092	2.663	1.338
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		26.009	21.797	20.795
LOAN FUNDS
1] Secured Loans		0.968	1.657	3.591
2] Unsecured Loans		22.544	13.470	4.688
TOTAL BORROWING		23.512	15.127	8.279
DEFERRED TAX LIABILITIES		0.329	0.281	0.206
BANK OVERDRAFT		5.284	0.000	0.000
TOTAL		55.134	37.205	29.280
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		9.604	3.853	3.462
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	18.406	7.590	3.280
	Sundry Debtors	25.930	51.223	21.403
	Cash & Bank Balances	5.090	7.007	1.048
	Other Current Assets	7.491	18.275	0.000
	Loans & Advances	0.051	0.010	3.013
Total Current Assets		56.968	84.105	28.744
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.390	49.761
	Other Current Liabilities	0.576	0.865	2.259
	Provisions	0.472	0.127	0.667
Total Current Liabilities		11.438	50.753	2.926
Net Current Assets		45.530	33.352	25.818
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		55.134	37.205	29.280

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	11.855	175.912	48.140
		Other Income	NA	0.079	0.219
		TOTAL (A)	NA	175.991	48.359
Less	EXPENSES
		Material Consumed	NA	107.548	25.879
		Manufacturing Expenses		24.750	8.409
		Administrative Expenses		24.494	8.184
		Marketing and Selling Expenses		13.177	4.170
		TOTAL (B)	NA	169.969	46.642
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			6.022	1.717
			NA
Less	FINANCIAL EXPENSES (D)			4.002	0.617
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			2.020	1.100
Less/ Add	DEPRECIATION/ AMORTISATION (F)		NA	0.416	0.341
	PROFIT BEFORE TAX (E-F) (G)		2.449	1.604	0.759
Less	TAX (I)		0.820	0.571	0.257
	PROFIT AFTER TAX (G-I) (J)		1.629	1.033	0.502
	BALANCE CARRIED TO THE B/S		1.629	1.033	0.502

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	NA	0.59	1.04
Net Profit Margin (PBT/Sales)	(%)	20.66	0.91	1.58
Return on Total Assets (PBT/Total Assets}	(%)	3.68	1.82	2.36
Return on Investment (ROI) (PBT/Networth)		0.09	0.07	0.04
Debt Equity Ratio (Total Liability/Networth)		1.36	3.03	0.55
Current Ratio (Current Asset/Current Liability)		4.98	1.66	9.82

LOCAL AGENCY FURTHER INFORMATION

BUSINESS OUTLOOK

In the Current Financial Year the Board of Directors have taken much more effort to keep the volume of business and profit achieved last year but due to moon soon failure there was a setback in current year business as compared to last year. However the board of directors have taking adequate efforts to increase the volume of business and profit in the near future and moving towards to achieve the goal as promised.

FORM 8

Corporate identity number of the company	U24129TN2004PTC053123
Name of the company	RICH PHYTO CARE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Flat No. E, Arpotha’s Apartment, B- Bank Street, Kil Pauk, Chennai – 600 010, Tamil Nadu, India
This form is for	Creation of charge
Type of charge	· Book debts · Floating Charge
Particular of charge holder	State Bank of India No. East Market Street, Periyakulam Road, Theni – 625 531, Tamilnadu, India
Nature of instrument creating charge	Hypothecation of Fertilizer and other stock in trade and receivables.
Date of instrument Creating the charge	05.12.2008
Amount secured by the charge	Rs.20.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	· Rate of interest 1.50% above SBAR, As per the pricing applicable for SB6 rated companies. Present effective rate 14.50%. SBAR is 13.00% w.e.f. 10.11.2008. Rest of compounding monthly · Terms of repayment To be renewable every year · Margin FG 25% Receivables (Cover 90 days) 25% Letter of credit 25% · Extent and operation of the charge Refer Agreement
Particulars of the property charged	Charge over the entire current assets of the company

FIXED ASSETS

· Building

· Furniture and Fittings

· Plant and Machinery

· Computer Laptop

· Vehicle

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. 46.12
UK Pound	1	Rs. 75.51
Euro	1	Rs. 66.52

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.