MIRA INFORM REPORT

Report Date :

21.07.2011

IDENTIFICATION DETAILS

Name :	K.P.R. FERTILISERS LIMITED
Registered Office :	8-2-41, Stone Valley Apartments, C Block, C-2, Road No. 4, Banjara Hills, Hyderabad-500034, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	02.01.2007
Com. Reg. No.:	052216
Capital Investment/ Paid-up Capital:	Rs. 142.440 Millions
CIN No.: [Company Identification No.]	U24129AP2007PLC052216
TAN No.: [Tax Deduction & Collection Account No.]	VPNK00709C
PAN No.: [Permanent Account No.]	AADCK0257B
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of Wide Range of Fertilizers and Pesticides.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 1800000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track records. 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 – 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 :	8-2-41, Stone Valley Apartments, C Block, C-2, Road No. 4, Banjara Hills, Hyderabad-500034, Andhra Pradesh, India
Tel. No.:	91-40-24024244
E-Mail :	sripathi@kpgeroup.in kprfert@rediffmail.com
Website :	http://www.kprfertilisers.com
Administrative Office :	8-256, Tata Nagar, Balabhadrapuram-533343, East Godavari District, Andhra Pradesh, India
Tel. No.:	91-8857-237367/ 236676/ 237477
Fax No.:	91-8857-237333
Factory 1 :	S. No. 24/2, Nallamilli Road, Biccavolu-533343, East Godavari District, Andhra Pradesh, India
E-Mail :	kprfert@rediffmail.com
Factory 2 :	Kasturirangapuram Village, Rahapouram Taluk, Tirunalveli District, Andhra Pradesh, India
Factory 3 :	Hallavrthy Village, Koppal District, Karnatakah, India

DIRECTORS

As on 30.09.2010

Name :	Mr. Venkata Mukund Reddy Karri
Designation :	Managing Director
Address :	Door No. 2-1-1, Komaripalem East Godavari-533346, Andhra Pradesh, India
Date of Birth/Age :	21.05.1961
Date of Appointment :	02.01.2007
DIN No.:	01574312
Name :	Mr. Kovvuri Rajasekhar Reddy
Designation :	Whole Time Director
Address :	2-1/3, Bhagyangar, Komaripalem East Godavari-533346, Andhra Pradesh, India
Date of Birth/Age :	28.03.1977
Date of Appointment :	02.01.2007
DIN No.:	01808276
Name :	Mr. Kovvuri Papa Reddy
Designation :	Whole Time Director
Address :	Kacheri Street, Door No. 3-29, Komaripalem Biccavolu Mandal, East Godavari-533346, Andhra Pradesh, India
Date of Birth/Age :	29.10.1936
Date of Appointment :	02.01.2007
DIN No.:	01375140

KEY EXECUTIVES

Name :	Mr. Narayana Rao
Designation :	Secretary
Address :	House No. 46-16-29l, Gandhi Park, East Road, Danavaipet-533103, Andhra Pradesh, India
Date of Birth/Age :	05.10.1938
Date of Appointment :	30.09.2010
PAN No.:	AEEPP6218B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Kovvuri Papa Reddy	336840
Karri Venkata Mukund Reddy	505260
Kovvuri Raja Sekhar Reddy	505260
Kovvuri Vinodha Balal	480920
Kovvuri Surayamma	388130
Kovvuri Satyanaryana Reddy	384920
Kovvuri Jyothirmai Seshu Kumari	346270
Tadi Veera Venkata Kumari	297000
Kovvuri Vijaya Reddy	346120
Karri Venkata Dhana Reddy	183610
Karri Adi Reddy	183610
Karri Venkata Dhana Sekhar Reddy	183610
Karri Sudhakar Reddy	183610
Kovvuri Satyanaryana Reddy	544660
Kovvuri Anjana Devi	234990
Kovvuri Sudhartri	233000
Karri Vijaya Lakshmi	475880
Karri Satyanarayana Reddy	445120
Karri Lakshmi Kantham	387680
Kovvuri Mangayamma	330975
Kovvuri Satyanarayana Reddy	352260
Kovvuri Lalitha	329280
Nallamilli Venkata Reddy	247515
Kovvuri Bhaskara Rahurama Reddy	168420

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Bodies corporate	21.88
Directors or relatives of Directors	78.12
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Wide Range of Fertilizers and Pesticides.

Products :

Product Description	ITC Code
Fertilisers	31031000
Di Clacium Phosphate	28352500
Wind Power	84128030

PRODUCTION STATUS AS ON (31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
SSP	MT	90000	28167
NPK	MT	90000	59870
DCP	MT	15000	2250
Pesticides	MT	22000	--

GENERAL INFORMATION

Bankers :

• State Bank of Hyderabad, Gollala Mamidada Branch, Gollala Mamidada-533344, Andhra Pradesh, India
• Andhra Bank Rayavaram Branch, Main Road, Biccavole Mandal, Biccavole Mandal-533346, Andhra Pradesh, India
• State Bank of India, Commercial Branch, D. No. 13-1-24, Main Road, Kakinada-533001, Andhra Pradesh, India
• Kotak Mahindra Bank

Facilities :

Secured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. In Millions
a) Term Loan from
Andhra Bank	717.232	509.813
Kotak Mahindra Bank	0.569	1.438
b) Working Capital Loans from
AP State Financial Corporation	2.900	19.375
Andhra Bank	337.161	140.734
c) Vehicle Loans	14.041	6.913
d) Interest Accrued and due	0.000	0.224
Total	1071.903	678.497
Note: a) All Rupee Term Loans and Forex Term Loans form Banks are secured by First charge on present and future Fixed Assets of the company. They are further secured by collateral security of property belonging to third party. The term loans also secured by the personal guarantee of the Directors of the company. b) Rupee Term Loans converted during the year as Forex Term Loans are covered for forex fluctuation c) Term Loan from Kotak Mahindra Bank is secured by Hypothecation of Generator d) Working Capital Term Loan form AP State Financial Corporation Limited are secured by agreement and promissory note. They are further secured by collaterally security of property belonging to third party. The loan is further secured by personal guarantee of Directors of the company. e) Vehicles Loans from Citi Corp Finance India Limited, ICICI Bank Limited and State Bank of Hyderabad are secured by hypothecation of vehicles purchased on availing those loans. f) Cash Credits from Andhra Bank is secured by hypothecation of stocks of raw materials, stock in process. Finished goods and book debts and less than 90 days.

Banking Relations :	--
Auditors :
Name :	Kumar and Giri Chartered Accountant
Address :	1-11-126/D, Opposite Aero View Towers, Begumpet, Hyderabad-500016, Andhra Pradesh, India
Group Companies :	K.P.R. Rice Mills Kodanda Rama Boiled Rice Mill K.P.R. Poultries- Andhra Pradesh and Karnataka K.P.R. Wind Power Generation

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs. 10/- each	Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14244000	Equity Shares	Rs. 10/- each	Rs. 142.440 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		142.440	130.160	58.335
2] Share Application Money		42.582	0.091	0.000
3] Reserves & Surplus		267.418	151.519	14.988
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		452.440	281.770	73.323
LOAN FUNDS
1] Secured Loans		1071.903	678.497	152.675
2] Unsecured Loans		0.000	0.000	4.234
TOTAL BORROWING		1071.903	678.497	156.909
DEFERRED TAX LIABILITIES		108.122	40.192	0.000
TOTAL		1632.465	1000.459	230.232
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1213.742	477.199	85.298
Capital work-in-progress		4.838	169.576	60.156
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	350.966	211.656	91.128
	Sundry Debtors	155.758	59.074	33.505
	Cash & Bank Balances	67.253	137.296	12.768
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	62.969	190.673	37.633
Total Current Assets		636.946	598.699	175.034
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	172.023	224.882	80.170
	Other Current Liabilities	5.063	0.304	0.000
	Provisions	45.975	19.991	10.086
Total Current Liabilities		223.061	245.177	90.256
Net Current Assets		413.885	353.522	84.778
MISCELLANEOUS EXPENSES		0.000	0.162	0.000
TOTAL		1632.465	1000.459	230.232

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1052.629	885.520	384.244
		Subsidy Received	94.055	158.320	19.191
		Incentives Received	5.966	0.224	0.000
		Gain on Forex Fluctuation	6.599	0.000	0.000
		Other Income	6.141	3.788	0.000
		TOTAL (A)	1165.390	1047.852	403.435
Less	EXPENSES