MIRA INFORM REPORT

Report Date :

07.12.2011

IDENTIFICATION DETAILS

Name :	NEEM INDIA PRODUCTS PRIVATE LIMITED
Registered Office :	Siddharth Arcade, Opposite M.T.D.C. Railway Station Road, Aurangabad – 431005, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.01.2002
Com. Reg. No.:	11-134611
Capital Investment / Paid-up Capital :	Rs.3.800 Millions
CIN No.: [Company Identification No.]	U24210MH2002PTC134611
TAN No.: [Tax Deduction & Collection Account No.]	NSKN01368D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Neem based Organic Manure and Pesticides.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 60000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 :	Mr. Amit Kumar
Designation :	Marketing Manager
Date :	06.12.2011

LOCATIONS

Registered Office :	Siddharth Arcade, Opposite M.T.D.C. Railway Station Road, Aurangabad – 431005, Maharashtra, India
Tel. No.:	91-240-2354912/ 2354913/ 2354914/ 2354915/ 2354916/ 2354917
Mobile No.:	91-9422708922 (Mr. Sanjay)
Fax No.:	91-240-2332111
E-Mail :	rjh@neemindia.com laad@khdkeshwara.com rj@neemindia.com nagamani_72@rediffmail.com
Website :	http://www.neemindia.com
Location :	Owned
Factory :	Bokud Jalgaon, Taluka Paithan, District Aurangabad, Maharashtra, India
Area :	3498 sq. ft.
Location :	Owned
Factory :	MIDC, Chikal Thana, Aurangabad, Maharashtra, India
Location :	Owned

DIRECTORS

(AS ON 26.08.2011)

Name :

Mr. Ramesh Rodgepatil

Designation :

Director

Address :

Ho. No.16, Prathmesh Nagari Deolal Road, Aurangabad – 431001, Maharashtra, India

Date of Birth/Age :

04.06.1970

Qualification :

B. Com

Date of Appointment :

17.11.2005

DIN No.:

00314962

Name :

Mr. Sanjay Nalgirkar

Designation :

Director

Address :

Sucees Regency, New Shrey Nagar, Aurangabad – 431005,, Maharashtra, India

Date of Birth/Age :

10.03.1962

Qualification :

Mechanical Engineer

Date of Appointment :

01.06.2011

DIN No.:

00314547

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U01110MH1990PTC058435	NAGESHVAR FARMS PRIVATE LIMITED	Director	8/10/1990	8/10/1990	Amalgamated	NO
2	U55101MH1993PTC070644	MARUTI MOTELS PRIVATE LIMITED	Director	3/2/1993	3/2/1993	Active	NO
3	U01222MH1995PTC085388	MARUTI BREEDERS PRIVATE LIMITED	Director	8/2/1995	8/2/1995	Amalgamated	NO
4	U15140MH1998PTC115308	KHADKESHWAR OIL MILL PRIVATE LIMITED	Director	10/6/1998	10/6/1998	Active	NO
5	U01222PN2003PTC017812	CENTRAL INDIA POULTRY BREEDERS PRIVATE LIMITED	Director	31/03/2003	31/03/2003	Active	NO
6	U01210MH2003PTC140233	SHRADDHA POULTRY FARMS PRIVATE LIMITED	Director	30/04/2003	30/04/2003	Active	NO
7	U01210MH1998PTC117609	SANJAY BREEDERS PRIVATE LIMITED	Director	17/10/2005	17/10/2005	Amalgamated	NO
8	U01222MH1990PTC058438	KHADKESHWAR HATCHERIES PRIVATE LIMITED	Additional director	25/09/2006	25/09/2006	Active	NO
9	U01222MH1998PTC116653	NAVJEEVAN HATCHERIES PRIVATE LIMITED	Director	24/09/2007	1/11/2006	Active	NO
10	U24210MH2002PTC134611	NEEM INDIA PRODUCTS PRIVATE LIMITED	Director	26/08/2011	1/6/2011	Active	NO

Name :

Mr. Anand Rupesh

Designation :

Director

Address :

161/3, 10^th B Main Road, I Block, Jaynagar, Bangalore – 560011, Karnataka, India

Date of Birth/Age :

05.08.1973

Date of Appointment :

03.08.2011

DIN No.:

00702147

KEY EXECUTIVES

Name :	Mr. Amit Kumar
Designation :	Marketing Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 26.08.2011)

Names of Shareholders	No. of Shares
Raghavcendra S. Joshi	20000
Meena R. Joshi	10000
Deelip S. Reddy	25000
Ramesh N. Rodgepatil	115000
Abhay Sudhakar Pande	70000
Sudhir Manikrao Laad	10000
Anil Kashinathrao Bharadkar	10000
Meghana Badve	10000
Arvind G. Badve	10000
Kashinathrao Dharphale	10000
Pratap Kashinathrao Dharphale	10000
Navjeevan Tyre Private Limited, India	20000
Balaji P. Singh	10000
Shaikh Mahbub Shaikh Aziz	10000
Tulsiram Shinde	10000
Sharad Kulkarni	20000
Kisan Chotmal	10000
Total	380000

(AS ON 30.09.2011)

Equity Shares Break – Up

Category	Percentage
Bodies corporate	5.00
Directors or relatives of directors	41.00
Other top fifty shareholders	54.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Neem based Organic Manure and Pesticides.
Exports :
Products :	Organi Agri Input
Countries :	· Kenya · Span · Japan · Shri Lanka · Germany · Australia
Terms :
Selling :	Cash and Cheque, Draft
Purchasing :	Cash and Cheque

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

· Nico Orgo- Gujarat

· Maxeema Biotech

· Rashtriya Chemicals and Fertilizers Limited

No. of Employees :

25 (Approximately)

Bankers :

· Central Bank of India

Aurangabad, Maharashtra, India

· Deutsche Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Central Bank of India, K. C. Br. C/C 1414247341	4.900	4.035
Total	4.900	4.035

Banking Relations :	--
Auditors :
Name :	SVS and Associates Chartered Accountant
Address :	B-1, ground Floor, Shrirang Pride, Opposite Guruteg Bahadur School, Osmanpura, Aurangabad – 431005, Maharashtra, India
PAN No.:	AFDPG2701E
Associates/Subsidiaries :	· Khadker Hatcheries Private Limited · R J Biotech Private Limited · Maruti Fertochem Limited · Maruti Tiers · Khadkshwari Oil Mail

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Share	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
380000	Equity Share	Rs.10/- each	Rs.3.800 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		3.800	3.800	3.800
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		11.029	9.477	8.004
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		14.829	13.277	11.804
LOAN FUNDS
1] Secured Loans		4.900	4.035	5.995
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		4.900	4.035	5.995
DEFERRED TAX LIABILITIES		0.605	0.675	0.619
TOTAL		20.334	17.987	18.418
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.423	4.865	5.287
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.793	4.280	3.106
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.949	5.501	9.082
	Sundry Debtors	2.346	3.370	2.560
	Cash & Bank Balances	0.775	0.644	0.150
	Other Current Assets	0.168	0.025	0.025
	Loans & Advances	5.664	0.253	0.307
Total Current Assets		12.902	9.793	12.124
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.643	0.223	0.195
	Other Current Liabilities	0.070	0.049	0.809
	Provisions	1.084	0.698	1.122
Total Current Liabilities		1.797	0.970	2.126
Net Current Assets		11.105	8.823	9.998
MISCELLANEOUS EXPENSES		0.013	0.019	0.027
TOTAL		20.334	17.987	18.418

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	TOTAL INCOME		17.276	15.820	14.315
Less	EXPENSES
		TOTAL	14.422	13.738	11.123
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		2.854	2.082	3.192
Less/ Add	DEPRECIATION/ AMORTISATION		0.527	0.592	0.642
	PROFIT BEFORE TAX		2.327	1.490	2.550
Less	TAX		0.776	0.436	1.114
	PROFIT AFTER TAX		1.551	1.054	1.436
	Earnings Per Share (Rs.)		4.08	2.77	3.78

Expected Sales (2011-12): Rs.40.000 Millions

The above information has been parted by Mr. Amit Kumar.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	8.98	6.66	10.03
Return on Total Assets (PBT/Total Assets}	(%)	13.43	10.17	14.65
Return on Investment (ROI) (PBT/Networth)		0.16	0.11	0.22
Debt Equity Ratio (Total Liability/Networth)		0.45	0.38	0.69
Current Ratio (Current Asset/Current Liability)		7.18	10.10	5.70

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	-----
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	-----
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	No
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	No
Incorporation details is applicable	-----
Last Accounts filed at ROC	-----
Major Shareholders, if available	-----

OPERATING RESULTS:

The turnover of the company has increased by 8% as compared to last year, the net profit of the company also has increased by 47% as compared to last year.

CONTINGENT LIABILITIES NOT PROVIDED IN BOOKS

Particulars	Financial Year	Amount Involved	Forum of Appellate Authority
VAT	2005-2006	0.149	Deputy Commissioner of Sales Tax (Appeals) Aurangabad
CST	2005-2006	1.775	Deputy Commissioner of Tax (Appeals) Aurangabad

NOTE:

In case of above matter Hon. Deputy Commissioner of Sales Tax (Appeals), Aurangabad has admitted stay till the decision of appeal order as mentioned above. Assesses has paid Rs.0.359 Millions as a part payment against the above liability.

TRADE REFERENCE:

· Nico Orgo- Gujarat

· Maxeema Biotech

· Rashtriya Chemicals and Fertilizers Limited

FORM 8:

Corporate identity number of the company	U24210MH2002PTC134611
Name of the company	NEEM INDIA PRODUCTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Siddharth Arcade, Opposite Holiday Camp Station Road, Aurangabad – 431005, Maharashtra, India laad@khadkeshwara.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90148428
Type of charge	Immovable Property Book debts Movable property (not being pledge)
Particular of charge holder	Central Bank of India Samarth Nagar Branch, Aurangabad – 431005, Maharashtra, India bmaura0679@centralbank.co.in
Nature of instrument creating charge	Agreement of hypothecation to secure demand cash credit against goods. Memorandum of entry Letter of continuity
Date of instrument Creating the charge	11.07.2011
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 Interests: BR+1.75% p.a. with monthly rests Terms of Repayment: On demand Margin: 25 % for stocks 50 % for book debts Extent and Operations of the charge: This charge will be operative till the total loan along with interest; commission charges expenses etc. repaid by the company.
Particulars of the property charged	First charge on Hypothecation of Stocks of RM/ SIP/ FG/ Hypothecation of Book debts situated at Gut No. 6 and 7 at Village Bokud Jalgaon, Tq. Paithan, District Aurangabad. First Charge by way of Equitable Mortgage on agricultural land at Gat No. 6 and 7, at Village Bokud Jalgaon, Tq. Paithan, Dist. Aurangabad totally admeasuring 1 hector and 21 R together with building and structures constructed to be constructed thereon and all fixed plants and machineries and fixtures standing, lying or being thereon.
Particulars of the present modification	Company has extended existing first charge by way of equitable mortgage on 1 H. 21 R agricultural land at gut No. 6 and 7, Tq. Paithan, District Aurangabad to secure enhancement of cash credit limit from Rs.6.000 Millions to Rs.20.000 Millions.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Licenses

· Computers

· Computer Software

· Website Development

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.51.39
UK Pound	1	Rs.80.20
Euro	1	Rs.68.92

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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		44

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.