MIRA INFORM REPORT

Report Date :

07.11.2011

IDENTIFICATION DETAILS

Name :	V V F LIMITED

Formerly Known As :	VEGETABLE VITAMIN FOODS COMPANY LIMITED

Registered Office :	Plot No.109, Opposite Sion (East), Off. Sion Fort Garden, Mumbai – 400022, Maharashtra

Country :	India

Financials (as on) :	31.03.2010

Date of Incorporation :	14.09.1939

Com. Reg. No.:	11-2994

Capital Investment / Paid-up Capital :	Rs.156.964 Millions

CIN No.: [Company Identification No.]	U99999MH1939PLC002994

TAN No.: [Tax Deduction & Collection Account No.]	RKTV00663F

Legal Form :	A Closely Held Public Limited Liability company

Line of Business :	Manufacturing and Sale of Processed Oils, Fatty Acid and Allied Products, Soaps Noodles/ Soaps, Shaving Cream and Wind Mills.

No. of Employees:	724 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 8000000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track. There appears to be some losses incurred by the company in 08-09. However the networth appears to be satisfactory. 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

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

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Suryakant
Designation :	Administrative Officer

LOCATIONS

Registered Office/ Corporate Office :	Plot No.109, Opposite Sion (East), Off. Sion Fort Garden, Mumbai-400022, Maharashtra, India
Tel. No.:	91-22-40282000/ 40282250/ 24073221-23/ 24093882/ 24030802/ 24016749
Fax No.:	91-22-24091554/ 24073771/ 24086698
E-Mail :	doy@vvfltd.com sales@vvfltd.com vijayk@vvfltd.com mohans@vvfltd.com vvf.in.mumbai@vvfltd.com mohn.sonar@vvfltd.com
Website :	http://www.vvfltd.com
Location :	Owned

Factory 1 :	Survey No.65, Meghpar Borichi, Galpadar Anjar Road, Gandhidham, Gujarat – 370201, India
Tel. No.:	91-2836-246985/ 83/ 84
Fax No.:	91-2836-246981
E-Mail :	vvf.inkutch@vvfltd.com

Factory 2 :	Village Bhatauli, Kalan (Baddi), H B No.214 Paragana Dharampur, Taluka Nalagarh District Solan, Himachal Pradesh – 173205, India
Tel. No.:	91-1795-661300
Fax No.:	91-1795-275034
E-Mail :	vvf.inbaddi@vvfltd.com

Factory 3 :	Plot No. V-41, Taloja Industrial Area, Village – Chat, Taluka Panvel, District Raigad – 410208, India
Tel. No.:	91-22-27412036/ 37
Fax No.:	91-22-27412173
E-Mail :	vvf.intaloja@vvfltd.com

Factory 4 :	Survey No.635, SIM of Anjar, Taluka Anjar District Kutch – 370110, Gujarat, India

Factory 5 :	Soaps/Personal Care Products/ Oleochemicals NOP Compound, Maneklal Road, Navsari, Dist. Bulsar – 396445, Gujarat, India
Tel. No.:	91-2637-250227/47498
Fax No.:	91-2637-256622
E-Mail :	vvfltd@ad1.vsnl.net.in

Factory 6 :	Personal Care Products/ Soaps 141, Survey No. 194/4, Panchal Udyog Nagar, Bhimpore, Nani Daman (Union Territory), India
Tel. No.:	91-260-2263075
Fax No.:	91-260-2263790
E-Mail :	vita@ad1.vsnl.net.in

Factory 7 :	Hay, Bunder Road, Sewree, Mumbai-400033, Maharashtra, India
Tel. No.:	91-22-23721967/23728035/ 6238
Fax No.:	91-22-24086698
E-Mail :	vvf.in.mumbai@vvvfltd.com

Wind mills:	Located at Satara, Maharashtra, India

Branches :	214, DDA Commercial Complex, Phase I, Jhandewalan, New Delhi – 11005, India
Tel. No.:	91-11-3517800/3523536/3537800
Fax No.:	91-11-3545475
E-Mail :	ksn_nwtc@vsnl.net

	US Headquarters VVF LLC 1705, Kansas Avenue, Kansas City, USA, KS 66105 Tel: +1 (913) 281-7444 Fax: +1 (913) 529-2260 Product Inquiries - Personal and Home care D'Arcy Sweet Director of Sales and Marketing Tel: +1 (937) 401-4681 Fax: +1 (937) 417-1809 Email: darcy.sweet@vvfllc.com John Cherne National Sales Manager Tel: +1 (480) 893-2350 Fax: +1 (480) 893-2359 Email: john.cherne@vvfllc.com Human Resources Dean Sigvertsen Director of Human Resources Tel: +1 (913) 529-2252 Fax: +1 (913) 529-2267 Email: dean.sigvertsen@vvfllc.com Product Inquiries - Oleochemicals Satish Kulkarni Associate Vice President Marketing – Oleochemicals Tel: +1 (913) 281-7444 Extn. 2259 Fax: +1 (913) 529-2260 Cell: +1 (848) 459-8026 Email: satish.kulkarni@vvfltd.com Customer Service/ Order Entry/ Accounting Inquiries - Oleochemicals Alicia Farfan Office Manager VVF Chemicals LLC 14511 Falling Creek . Suite 409, Houston , Texas TX 77014 Tel: +1 (281) 586-7825 Orders: +1 (877) 866-9080 Fax: +1 (281) 444-7250 Email: alicia.farfan@vvfllc.com Sales - Key Accounts Mike Kamdar Marketing Manager , Oleochemicals 13706 Research Blvd. Summit Executive Center , Suite 312, Austin , Texas, TX 78750 Tel: +1 (512) 219-7440 Fax: +1 (512) 219-7700 Cell: +1 (512) 750-1001 Email: mike.kamdar@vvfllc.com

DIRECTORS

AS ON 30.09.2009

Name :	Mr. Rustom Godrej Joshi
Designation :	Chairman and Managing Director
Address :	501, Marker Mansion, 623, Lady Jehangir Road, Parsee Colony, Dadar, Mumbai 400014, Maharashtra, India
Date of Birth/Age :	05.05.1953
Date of Appointment :	24.11.1972
DIN No. :	00277901

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1939PLC002994	V V F LIMITED	Managing director	01/12/2010	24/11/1972	-	Active	NO
2	U99999MH1979PTC022023	RF EXPORTS PRIVATE LIMITED	Director	21/12/1979	21/12/1979	-	Active	NO
3	U65990MH1979PTC022035	GODSIL INVESTMENTS PRIVATE LIMITED	Director	22/12/1979	22/12/1979	-	Active	NO
4	U15140MH1979PTC022030	VITA OIL PRIVATE LIMITED	Director	22/12/1979	22/12/1979	-	Active	NO
5	U24118MH1985PTC037964	NAVSARI OIL PRODUCTS PRIVATE LIMITED	Director	03/10/1986	03/10/1986	-	Active	NO
6	U51900MH2000PTC127812	SYNERGY INDIA MARKETING PRIVATE LIMITED	Director	01/11/2000	01/11/2000	-	Active	NO
7	U45400MH2010PTC210101	Navimumbai Infrastructure Development Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
8	U45400MH2010PTC210098	VVF Infrastructure Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
9	U24296MH2010PLC210239	VVF (INDIA) LIMITED	Director	22/11/2010	22/11/2010	-	Active	NO

Name :	Mr. Faraz Godrej Joshi
Designation :	Whole Time Director
Address :	40 – A, Hill Stone, B. G. Kher Marg, Malabar Hill, Mumbai 400006, Maharashtra, India
Date of Birth/Age :	21.07.1946
Date of Appointment :	24.11.1972
DIN No. :	00278206

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1939PLC002994	V V F LIMITED	Managing director	17/12/2010	24/11/1972	-	Active	NO
2	U99999MH1979PTC022023	RF EXPORTS PRIVATE LIMITED	Director	21/12/1979	21/12/1979	-	Active	NO
3	U65990MH1979PTC022035	GODSIL INVESTMENTS PRIVATE LIMITED	Director	22/12/1979	22/12/1979	-	Active	NO
4	U15140MH1979PTC022030	VITA OIL PRIVATE LIMITED	Director	22/12/1979	22/12/1979	-	Active	NO
5	U24118MH1985PTC037964	NAVSARI OIL PRODUCTS PRIVATE LIMITED	Director	03/10/1986	03/10/1986	-	Active	NO
6	U51900MH2000PTC127812	SYNERGY INDIA MARKETING PRIVATE LIMITED	Director	01/02/2010	01/02/2010	-	Active	NO

Name :	Mr. Rajamani Subramaniam Iyer
Designation :	Director
Address :	21, 2^nd Floor, Khetani Heights, Plot No. 123, Road No. 27, Sion Eest, Mumbai 400022, Maharashtra, India
Date of Birth/Age :	25.12.1927
Date of Appointment :	30.09.1996
DIN No. :	00278672

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1939PLC002994	V V F LIMITED	Director	30/09/1996	30/09/1996	-	Active	NO
2	U52190MH2009PTC196799	NINE VENTURES PRIVATE LIMITED	Director	03/11/2009	03/11/2009	-	Active	NO

Name :	Mr. Julio Frederick Ribeiro
Designation :	Director
Address :	51, 5^th Floor, Sagar Tarang, Worli Seaface, Mumbai 400025, Maharashtra, India
Date of Birth/Age :	05.05.1929
Date of Appointment :	23.01.2001
DIN No. :	00047630

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L24299MH1977PLC019982	GLENMARK PHARMACEUTICALS LIMITED	Director	26/08/1999	26/08/1999	-	Active	NO
2	U99999MH1939PLC002994	V V F LIMITED	Director	23/01/2001	23/01/2001	-	Active	NO
3	U65191TN1994PLC079235	FULLERTON INDIA CREDIT COMPANY LIMITED	Director	29/09/2007	19/10/2006	24/11/2010	Active	NO
4	U24110MH1994PLC081597	Glenmark Generics Limited	Director appointed in casual vacancy	05/09/2008	14/08/2008	-	Active	NO

Name :	Ms. Rashmin Balakrishna Joshi
Designation :	Whole-time Director
Address :	1005, ‘B’ Wing, Raj Residency, Mahavir Nagar, Kandivali 400067, Maharashtra, India
Date of Birth/Age :	25.11.1962
Date of Appointment :	01.10.2001
DIN No. :	01.10.2001

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24118MH1985PTC037964	NAVSARI OIL PRODUCTS PRIVATE LIMITED	Director	01/10/2001	01/10/2001	-	Active	NO
2	U99999MH1939PLC002994	V V F LIMITED	Whole-time director	01/11/2006	01/10/2001	-	Active	NO
3	U24230MH2004PTC145489	VITA BIOPHARMA PRIVATE LIMITED	Director	05/04/2004	05/04/2004	-	Active	NO
4	U51900MH2000PTC127812	SYNERGY INDIA MARKETING PRIVATE LIMITED	Director	29/09/2007	01/02/2007	-	Active	NO
5	U24296MH2010PLC210239	VVF (INDIA) LIMITED	Additional director	06/12/2010	06/12/2010	-	Active	NO

Name :	Ms. Shanaz Diwan
Designation :	Whole Time Director
Address :	40A, Hillstonme, B G Kher Marg, Malabar Hill, Mumbai – 400 006, Maharashtra, India
Date of Birth/Age :	22.02.1950
Date of Appointment :	30.01.2008
DIN No. :	02019387

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1939PLC002994	V V F LIMITED	Managing director	17/12/2010	01/02/2008	-	Active	NO
2	U45400MH2010PTC210098	VVF Infrastructure Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
3	U24296MH2010PLC210239	VVF (INDIA) LIMITED	Director	22/11/2010	22/11/2010	-	Active	NO
4	U45400MH2010PTC210101	Navimumbai Infrastructure Development Private Limited

Name :	Mr. K V Krishnamurthy
Designation :	Director
Address :	Kalpataru Residency, A – 174, 17^th Floor, Sion (East), Mumbai – 400 022, Maharashtra, India
Date of Birth/Age :	08.05.1943
Date of Appointment :	30.04.2008
DIN No. :	00025075

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U67190MH1999PLC119009	CentrumDirect Limited	Director	17/07/2001	17/07/2001	-	Active	NO
2	U65999MH2002PLC134884	ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED	Director	12/07/2003	12/07/2003	26/07/2010	Active	NO
3	U65999TN2003PLC052058	SUNDARAM TRUSTEE COMPANY LIMITED	Director	01/01/2009	08/12/2003	26/10/2010	Active	NO
4	L65990MH1994PLC084098	RAP MEDIA LIMITED	Director	01/04/2004	01/04/2004	25/10/2008	Active	NO
5	L65990MH1977PLC019986	CENTRUM CAPITAL LIMITED	Director	14/04/2004	14/04/2004	-	Active	NO
6	L74950MH1982PLC028947	ESSEL PROPACK LIMITED	Director	28/01/2005	28/01/2005	-	Active	NO
7	U51909AP2000PTC034653	BALAN NATURAL FOOD PRIVATE LIMITED	Director	08/02/2005	08/02/2005	-	Active	NO
8	L27102MH1994PLC152925	JSW Steel Limited	Nominee director	14/07/2005	14/07/2005	11/12/2006	Active	NO
9	U65191PN1943PLC007308	THE RATNAKAR BANK LIMITED	Director	09/09/2006	10/05/2006	19/06/2007	Active	NO
10	U65993MH2006PLC162533	ESSEL-CENTRUM HOLDINGS LIMITED	Director	08/07/2006	08/07/2006	24/03/2009	Active	NO
11	L99999MH1962PLC012538	BOROSIL GLASS WORKS LIMITED	Director	17/08/2007	29/09/2006	-	Active	NO
12	U27100GJ1976FLC013787	ESSAR STEEL LIMITED	Director	31/10/2006	31/10/2006	-	Active	NO
13	L24100MH1972PLC016149	THIRUMALAI CHEMICALS LIMITED	Director	16/07/2007	29/01/2007	-	Active	NO
14	U74950TN1989PTC046718	PACKAGING INDIA PRIVATE LIMITED	Director	28/04/2007	01/02/2007	-	Active	NO
15	U99999MH1939PLC002994	V V F LIMITED	Director	26/09/2008	30/04/2008	-	Active	NO
16	L72200PN1990PLC059594	KPIT CUMMINS INFOSYSTEMS LIMITED	Director	29/08/2008	30/05/2008	18/01/2010	Active	NO
17	L85110GJ1975PLC054824	ESSAR PORTS LIMITED	Director	27/09/2008	20/06/2008	-	Active	NO
18	L11100GJ1989PLC032116	ESSAR OIL LIMITED	Director	24/09/2010	22/01/2010	-	Active	NO
19	U29299MH1975PLC193684	LOOP MOBILE (INDIA) LIMITED	Director	30/09/2011	24/03/2011	-	Active	NO
20	U72200DL1997PLC085754	LOOP TELECOM LIMITED	Director	30/08/2011	24/03/2011	-	Active	NO
21	U61200GJ2010PLC060285	ESSAR SHIPPING LIMITED.	Director	09/09/2011	23/05/2011	-	Active	NO

Name :	Mr. Anilkumar G Lakhina
Designation :	Director
Address :	115l, Hamilton Court, DLF City, Phase IV, Gurgaon-122001, Haryana, India
Date of Birth/Age :	12.02.1948
Date of Appointment :	28.03.2009
DIN No. :	00075255

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L40101DL1969GOI005095	RURAL ELECTRIFICATION CORPORATION LIMITED	Managing director	01/08/2005	01/08/2005	29/02/2008	Active	NO
2	U40101DL2007GOI157558	REC TRANSMISSION PROJECTS COMPANY LIMITED	Director	09/07/2011	08/01/2007	29/02/2008	Active	NO
3	U40101DL2007GOI165779	REC Power Distribution Company Limited	Director	13/07/2007	13/07/2007	29/02/2008	Active	NO
4	U45400AP2009PTC062776	KARVY INFRASTRUCTURE RESOURCES PRIVATE LIMITED	Director	13/02/2009	13/02/2009	-	Active	NO
5	U99999MH1939PLC002994	V V F LIMITED	Director	30/09/2009	28/03/2009	29/03/2011	Active	NO
6	U93000DL2010NPL197674	FORUM FOR ADVANCEMENT OF SOLAR THERMAL	Director	06/01/2010	06/01/2010	-	Active	NO
7	U40109AP2001PLC036265	Lanco Power Limited	Director	30/09/2011	02/08/2010	-	Active	NO
8	U45400MH2010PTC210101	Navimumbai Infrastructure Development Private Limited	Director	16/11/2010	16/11/2010	30/03/2011	Active	NO
9	L65990MH1983PLC029197	GENESYS INTERNATIONAL CORPORATION LIMITED	Director	22/09/2011	12/01/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Makarand Purushottam Karnataki
Designation :	Company Secretary
Address :	606, Royal Ashar Residency, Alwares Glades Road, Off Pokhran Road No. 2, Thane 400610, Maharashtra, India
Tel No. :	91-22-24016749
Fax No. :	91-22-24091554
Date of Birth/Age :	12.04.1970
Date of Appointment :	12.06.2002

Name :	Mr. Bharat Hirji Shah
Designation :	Company Secretary

Name :	Mr. Sunil Mavjibhai Dedhia
Designation :	Company Secretary

Name :	Mr. Mr. Jagmohan Agarwal
Designation :	Executive Director (Finance)

Name :	Mr. Mohan Parshuram Sonar
Designation :	Company Secretary
Address:	B3/ 204, Runwal Estate, Ghodbunder Road, Manpada, Thane-400607, Maharashtra, India
Date of Birth/Age :	15.06.1967
Date of Appointment :	16.07.2007
Pan No. :	ANMPS7378G

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2009

Names of Shareholders (Equity Shares)	No. of Shares	Percentage of Holding
Vita Oil Private Limited – India	200000	3.49
R. F. Exports Private Limited – India	1015000	17.70
Rustom Godrej Joshi	1835650	32.00
Faraz Joshi	1835750	32.00
Neville Rustom Joshi	100	0.00
Navshri Oil Products Private Limited – India	100	0.00
Godsil Investments Private Limited – Bahamas	200	0.00
Inter REC Products Limited – India	505400	8.81
Shanaz Diwan	344200	6.00
Total	5736400	100.00

Names of Shareholders (Preference Shares)		No. of Shares
Inter REC Products Limited – Bahamas		996000
Total		996000

Equity Share Breakup (Percentage of Total Equity)

AS ON 30.09.2009

Category		Percentage of Holding
Foreign holdings (Foreign institutional investor(S), Foreign compnie(s) foreign financial institution(S), Non-resident indian(s) or overseas corporate bodies or others)		8.81
Bodies corporate (not mentioned above)		21.19
Directors or relatives of directors		70.00
Total		100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Sale of Processed Oils, Fatty Acid and Allied Products, Soaps Noodles/ Soaps, Shaving Cream and Wind Mills.

Products :

Product Description	Item Code No. (ITC Code)
Toilet Soaps	340111
Fatty Acids	382300
Glycerine	152090

Brand Names :

“DOY”
“JO ROSE”

Exports :

Products :

Fatty Acids
Glycerine
Refined Glycerine
Soaps and Soap Noodles
Guest soaps

Countries :

U.K.
Japan
Spain
Italy
Germany
China
U.S.A
Africa
South America
Middle East.
Canada,
Australia

Imports :

Products :

Raw Material

Countries :

Malaysia
Indonesia

Terms :

Selling :

L/C / Cash

Purchasing :

L/C / Cash

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Installed Capacity
Processed Oils, Fatty Acids and Allied Products	MT	468000
Shampoos/ Body Lotions/ Oils	MT	1075
Soaps Noodles/Soaps, etc.	MT	164540
Toilet Soaps	MT	106600
Shaving Cream	MT	400
Talc Powder	MT	7755
Hair Dye	MT	660
Toothpaste	MT	1080
Wind Mills	KW / h	3500

Particulars	Unit	Actual Production
Processed Oils, Fatty Acids and Allied Products [Non-Edible]	MT	122910.47
Shampoos/ Body Lotions/ Oils	MT	246.39
Soaps Noodles/Soaps, etc.	MT	15886.32
Toilet Soap (Including M.T.7025.75 (previous year 3829 M.T)	MT	64633.74
Talc Powder	MT	3958.13
Hair Dye	MT	0.04
Toothpaste	MT	51.31
Power Generation through Wind Mills at Satara – K. Watt	MT	6331127

* Excludes Production for Captive Consumption.

GENERAL INFORMATION

Customers :

Navsari Oil Products Limited
Synergy (India) Marketing Private Limited

No. of Employees :

724 (Approximately)

Bankers :

Citibank N.A. D. N. Road, Mumbai – 400 001, Maharashtra, India
ICICI Bank Limited, Free Press Journal Road, Nariman Point, Mumbai – 400 021, India
ICICI Bank Limited, 215, Free Press House, Nariman Point, Mumbai-400021, Maharashtra, India
State Bank of Patiala, Commercial Branch, Atlanta, Nariman Point, Mumbai 400021, Maharashtra, India
Bank of India, Mumbai Large Corporate Branch, Bank of India Building, 70/0, M. G. Road, Mumbai 400023, Maharashtra, India
Industrial Development Bank of India Limited
ING Vysya Bank Limited, Mittal Tower, A Wing, Ground Floor, 210, Nariman Point, Mumbai – 400 021, Maharashtra, India
Axis Bank Limited
ABN Amro Bank NV
The Honk Kong and Shanghai Banking Corporation Limited
Export Import Bank of India, Centre one Building, Floor21, World Trade Centre Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India
Indian Overseas Bank, Plot No. 4/4, Sector 5l, Vashi, Navi Mumbai-400703, Maharashtra, India
Central Bank of India, Industrial Finacne Branch, Chandramukhi, Ground Floor, Nariman Point, Mumbai – 400021, Maharashtra, India
Punjab National Bank
Indian Overseas Bank
Kotak Mahindra Bank Limited

Facilities :

Secured Loans :

	As on 31.03.2010 Rs. in Millions
Long Term: Term Loan from:
Bank of India	--
Export – Import Bank of India	617.818
ICICI Bank Limited	109.933
State Bank of India	104.702
ING Vysya Bank Limited	100.049
Axis Bank Limited	--
State Bank of Patiala - Corporate Loan –I	--
State Bank of Patiala – Corporate Loan- II	100.000
State Bank of Patiala – Corporate Loan- III	405.000
Kotak Mahindra Bank Limited	150.000
The Federal Ban Limited	166.667
The Shamrao Vithal Co-Operative Bank Limited	142.500
The Ratnakar Bank Limited	240.415
IDBI Bank Limited	240.000
Bank of India Term Loan –III	700.000
Indian Overseas Bank Term Loan I	135.000
Indian Overseas Bank Term Loan II	180.000
Punjab National Bank Term Loan	400.000
Term Loan from Others
Henkel India Limited	112.500
Short Term: Cash Credits from Banks	2796.042
Loans from Banks	365.000
Total	7065.626

Securities against each of the above Loans are listed below in serial order

A-I 2 First pari pasu charge on fixed assets of Taloja Plant and pari pasu second charge on fixed assets of Sion and tenement rights of Navsari Plant.

3 First pari pasu charge on movable and immovable fixed assets situated at Sion Plants.

4 First pari pasu charge on movable and immovable fixed assets situated at Sion Plants.

5 First pari pasu charge on movable and immovable fixed assets situated at Sion Plants.

8 First pari pasu charge on movable and immovable fixed assets situated at Sion Plants.

9 Exclusive charge on movable and immovable fixed assets situated at Baddi Plant.

10 First pari pasu charge on movable and immovable fixed assets situated at Sion Plants.

11 First pari pasu charge on movable and immovable fixed assets situated at Sion Plants.

12 First pari pasu charge on movable and immovable fixed assets situated at Sion Plants.

13 First pari pasu charge on movable and immovable fixed assets situated at Taloja Plant.

14 First pari pasu charge on movable and immovable fixed assets situated at Taloja Plant.

15 First pari pasu charge on movable and immovable fixed assets situated at Taloja Plant and Kutch Unit-II.

16 First pari pasu charge on movable and immovable fixed assets situated at Sion Plant.

17 First pari pasu charge on movable and immovable fixed assets situated at Kutch-II.

18 First charge on Fixed assets and Plant and Machinery at Kutch Unit-I and exclusive charge on movable and immovable assets at Satara (Windmill).

A-II Exclusive charge on immovable properties situated at Kolkatta.

B First pari pasu charge on companies entire current assets and second pari pasu charge on movable and immovable fixed assets situated at Sion,Taloja, Kutch Unit-I, and tenements rights of assets situated at Navsari plant.

Unsecured Loans :

	As on 31.03.2010 Rs. in Millions
Long Term: Sales Tax Deferral	163.675
Short Term
From Directors	34.409
From Others	5.582
Short Term Loan from Banks	390.000
Interoperate Deposit	22.700
Total	616.366


Banking Relations :	--

Financial Institution :	Indian Renewable Energy Development Agency Limited, Core-4A, East Court, 1^st Floor, India Habitat Centre, Lodi Road, New Delhi – 110 003, Delhi, India

Auditors :
Name :	H. N. Mehta Associates Chartered Accountants
Address :	50-51, Ali Chambers, Tamarind Lane, Flora Fountain, Mumbai 400023, Maharashtra, India
Tel No.:	91-22-22652956/ 22653482/ 22656089
Fax No.:	91-22-22651708
Email:	hnmehtaassociates@mtnl.net.in
Pan No. :	AAAFH6348C

Associates	Navsari Oil Products Private Limited Godsil Investment Private Limited Vital Oil Private Limited R F Export Private Limited Vita Trading Private Limited

Joint Venture Associates	Synergy (India) Marketing Private Limited CIN: U51900MH2000PTC127812

Step Down Joint Venture Associates	Green Planet Industries LLC

Wholly Owned Subsidiaries:	V.V.F. [America] Inc. V. V. F. FZE

Wholly Owned Step down Subsidiaries:	VVF Intervest LLC VVF LLC VVF Spolka Z.O.O VVF Illinois LLC VVF Illinois Services LLC PT VVF Indonesia Land United Limited, Hong kong

Subsidiaries :	Vita Biopharma Private Limited CIN No. : U24230MH2004PTC145489 V.V.F. Singapore Pte. Limited

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions
1050000	Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.105.000 Millions

	Total		Rs.205.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5736400	Equity Shares	Rs.10/- each	Rs. 57.364 Millions
996000	3% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.99.600 Millions

	Total		Rs.156.964 Millions

Paid up capital comprises of :

a) 80,000 Equity Shares of Rs.10/- each, consequent upon sub-division of existing 8,000 Equity Shares of Rs.100/- each into Shares of Rs. 10/- each.

b) 71,000 Equity Shares of Rs.10/- each allotted as fully paid Shares without payment being received in cash in lieu of 7100,7.5 % tax free redeemable preference shares of Rs.100/- each redeemed.

c) 25,000 ‘A’ Class Equity Shares of Rs.10/- each converted into Equity Shares of Rs.10/- each.

d) 1,50,000 Equity Shares of Rs.10/- each issued during 1995-96 at a premium of Rs.90/- each for cash.

e) 48,90,000 Equity Shares of Rs.10/- each issued as fully paid up Bonus Shares during 1995-96

f) 26,08,000 Equity Shares of Rs.10/- each issued during 1997-98 at a premium of Rs. 30/- each for cash.

g) 15,08,000 Equity Shares of Rs.10/- each was bought back during 2003-2004 at a premium of Rs.44/- each for cash.

h) 9,96,000 3% Cumulative Redeemable Preference Shares of Rs.100/- each issued during 2003-2004 for cash with date of allotment as 4^thNovember, 2003.

i) 6,00,000 Equity Shares of Rs.10/- each was bought back during 2005-2006 at a premium of Rs.60/- each for cash and extinguished during the year pursuant to Buyback scheme

j) 5,00,000 Equity Shares of Rs.10/- each was bought back during 2006-2007 at a premium of Rs.61/- each for cash and extinguished during the year pursuant to Buyback scheme

k) 5,05,400 Equity Shares of Rs.10/- each issued at a premium of Rs.1290/- each during 2008-09 against conversion of External Commercial Borrowing into Equity Share Capital.

l) 15,000 Equity shares of Rs.10 /- each issued as fully paid up at a premium of Rs.1290/- each during 2008-09 against cash.

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		156.964	156.964	151.760
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2031.640	1746.565	2543.497
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2188.604	1903.529	2695.257
LOAN FUNDS
1] Secured Loans		7065.626	6164.711	4064.816
2] Unsecured Loans		616.366	926.993	1705.809
TOTAL BORROWING		7681.992	7091.704	5770.625
DEFERRED TAX LIABILITIES		0.000	0.000	388.321

TOTAL		9870.596	8955.233	8854.203

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		6266.304	4813.915	4183.852
Capital work-in-progress		62.902	1212.545	1355.533

INVESTMENT		1001.115	989.620	321.485
DEFERREX TAX ASSETS		213.421	343.825	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3287.837	3987.995	4344.947
	Sundry Debtors	2596.622	1882.346	2098.871
	Cash & Bank Balances	215.720	78.214	79.412
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2417.634	1817.727	1828.327
Total Current Assets		8517.813	7766.282	8351.557
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5837.181	5810.494	5104.972
	Other Current Liabilities	313.764	282.230	111.266
	Provisions	40.014	38.230	141.986
Total Current Liabilities		6190.959	6130.954	5358.224
Net Current Assets		2326.854	1635.328	2993.333

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		9870.596	8995.233	8854.203

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	12802.709	13175.667	11597.519
		Sales of Power Ex Wind Mills	15.894	24.987	22.068
		Other Income	159.610	78.134	45.473
		TOTAL (A)	12978.213	13278.788	11665.06

Less	EXPENSES
		Raw Materials Consumed	8834.696	9295.321	7790.497
		Excise Duty	0.000	644.960	574.943
		Manufacturing, Administrative and Selling Expenses	2887.821	3045.463	2600.951
		Exceptional Items	(1081.174)	1151.252	0.000
		Increase/Decrease in Inventory	144.043	22.201	(865.749)
		TOTAL (B)	10785.386	14159.197	10100.642

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2192.827	(880.409)	1564.418

Less	FINANCIAL EXPENSES (D)		1126.389	848.111	678.880

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1066.438	(1728.520)	885.538

Less/ Add	DEPRECIATION/ AMORTISATION (F)		646.486	468.003	411.280

	PROFIT BEFORE TAX (E-F) (G)		419.952	(2196.523)	474.258

Less	TAX (I)		130.494	(728.276)	124.305

	PROFIT AFTER TAX (G-I) (J)		289.458	(1468.247)	349.953

Add	EXCESS PROVISION FOR TAXATION OF EARLIER YEAR		0.000	0.000	2.793

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		72.050	1540.297	1309.957

Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	100.000
		Leave encashment liability upto 31.03.2007	0.000	0.000	22.406
	BALANCE CARRIED TO THE B/S		361.508	72.050	1540.297

	Earnings Per Share (Rs.)

Expected Sales (2010-11): Rs. 18000.000 Millions.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.23	(11.06)	3.00

Net Profit Margin (PBT/Sales)	(%)	3.28	(16.64)	4.08

Return on Total Assets (PBT/Total Assets}	(%)	2.84	(17.46)	3.78

Return on Investment (ROI) (PBT/Networth)		0.19	(0.55)	0.18

Debt Equity Ratio (Total Liability/Networth)		6.34	6.95	4.13

Current Ratio (Current Asset/Current Liability)		1.38	1.27	1.56

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS

The Company is India’s largest producer and exporter of Oleochemicals and also one of the leading contract manufacturers for toilet soaps. During the year, the Company’s performance has improved considerably and recorded a growth of 4% in gross sales. During the year the Company’s net profit after tax was increased to Rs.289.500 millions as against previous year’s loss of Rs.1468.200 millions. Impact of Foreign Exchange rates and commodity prices was favourable. The Hon’ble High Court of Gujarat restored the area based excise benefit applicable to Kutch plant as was originally allowed.

During the year, the Company started commercial production of Split (Crude) Fatty Acid, Glycerin, Distilled Fatty Acids, Hydrogenated Distilled Fatty Acids, Soap Noodles and personal care products such as Shampoo, Hair Dyes, Hand Sanitizer, Hand wash and Lotions etc. at Baddi Plant.

The Company has launched several personal care products such as Bacter Shield Soap, Bacter Shield Hand Wash, Jo Almond and Coconut Hair Oil, Doy Care Crème all Season Cream, Doy Care Crème Moisturizing Lotion, Doy Care Deo Roll-On, Doy Care Aloevera Revitalizing Night Gel, Jo Hair Fall Control Strong and Healthy Shampoo with Conditioner, Jo Hair Fall Control Black and Silky Shampoo with Conditioner and Jo Perfect Powder Hair Dye manufactured at Baddi Plant.

During the year, the Company acquired the Assets of personal care products manufacturing facility of Henkel India Limited at Kolkata along with the Trademarks Armusk, Moloy and Ayurvedic Bhringol.

The Company is increasing Fatty Alcohol Production by expanding in house Distilled Fatty Acid production at Taloja.

Bankers Charges Report as per Registry

Corporate identity number of the company	U99999MH1934PTC002994
Name of the company	V. V. F. LIMITED
Address of the registered office or of the principal place of business in India of the company	109, Sion East, Mumbai – 400 022, Maharashtra India
This form is for	Creation of charge
Type of charge	Immovable Property Movable Property
Particular of charge holder	Central Bank of India - Industrial Finance Branch, Chandramukhi, Ground Floor, Nariman Point, Mumbai – 400021, Maharashtra, India e-mail id: agmmums1067@centralbank.co.in
Nature of instrument creating charge	1) Equitable Mortgage was created on 18.10.2010 at Baddi, Himachal Pradesh by depositing the title deeds of factory Land and Building situated thereon and 2) Loan cum Hypothecation Agreement dated 18.10.2010 for plant and Machinery.
Date of instrument Creating the charge	18.10.2010
Amount secured by the charge	Rs. 1500.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base Rate + 5% payable monthly with reset every 364 days and/or as may be stipulated by the Bank from time to time. Terms of Repayment Repayment in 36 equal installments @ Rs.42.500 crore p.m. starting from 13th month from the date of first disbursement of loan i.e. 27.9.2011 and / or as may be stipulated by bank from time to time. Extent and Operation of the charge Exclusive charge on land admeasuring 66777 sq. meter and Factory Building along with Plant and Machinery of the Company situated at village Bhatoli Kalan (Baddi), H. B. No.214, Paragana Dharmpur, Tahsil Nalagarh, Dist. Solan - 173205, Himachal Pradesh

Name of the company	V. V. F. Limited
Presented By	Mr. Makarand Karnataki, Company Secretary
1) Date and description of instrument creating the change	Memorandum of Entry creating equitable mortgage by deposit of title deeds with Bank of India on 12.01.2006.
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 100.000 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	Equitable mortgage created by deposit of title deeds by way of constructive delivery with Bank of India, BOI acting as agent of State Bank of Patiala in respect of Kutch I immovable Property. [a] All that piece and parcels of industrial land or ground terrace with messauges hereditaments, tenements standing thereon situate lying and being upon the land bearing Revenue Survey No. 65 admeasuring Acres 5, Gunthas 22 being 22460 sq. mtrs. At village Meghpar Borichi, Taluka Anjar, District Kutch.
4) Gist of the terms and conditions and extent and operation of the charge.	Mortgage created by way of 1^st charge on Kutch I property to secure working capital term loan of Rs. 100.000 Millions with interest, cost, expenses, charges, commission etc,
5) Name and Address and description of the person entitled to the charge.	State Bank of Patiala, Commercial Branch, Atlanta, Nariman Point, Mumbai 400021, Maharashtra, India
6) Date and brief description of instrument modifying the charge	NA
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.	NA

Fixed assets

Land
Leasehold Land
Building
Plant and Machinery
Electrical Installation
Furniture and Fixtures
Office Equipments
Air Conditioners
Cooling Machine
Laboratory Apparatus
Vehicles
Boiler
Water Cooler
Weigh Bridge/Scale
Process Vessel and Lift

AS PER WEBSITE

HISTORY

The company is a global player in the Oleo chemicals and Personal Care industries. They are also India’s contract manufacturer of toiletries and cosmetics for some of the world’s most popular brands.

Over a proud history of more than 60 years, they have created an organization steeped in traditional values of honesty, integrity, customer centricity and a rigorous work ethic. They have also fostered a culture focused on excellence which has resulted in their cutting edge expertise in research and product development. Their factories boast of state-of-the-art technology, ISO Certified environment-friendly processes and highly trained and productive manpower. No wonder the quality of their products is indisputably world-class.

For them, however, this is the beginning. The strong foundation they have painstakingly built over the years is now the launch pad, as they expand in several new directions. They are on the threshold of an entirely new and exciting phase of their evolution as a global oleo chemicals and personal care player. The possibilities are limitless as they march on the road ahead. They invite you to join them on this exciting journey!

MILESTONES:

1939: The Vegetable Vitamins Foods Company was founded and began manufacturing and marketing partially hydrogenated vegetable oils for edible purposes (popularly known as vanaspati), in Mumbai, India.

1952: Acquired a factory in Sewree, India for de-linting and crushing cotton seeds.

1956: The first continuous solvent extraction plant in India was commissioned in Mumbai, India.

1971: Started manufacturing and marketing fatty acids and glycerine in Mumbai, India.

1976: Installed a tank farm in the Sewree factory to handle liquid bulk storage.

1986: Acquired Navsari Oil Products Limited in Gujrat, India.

1987: Started soap noodle and bar production in Navsari, Gujrat, India.

1997: Launched Doy soap in India, VVF’s first company owned soap brand.

1999: Established our own FMCG distribution company in India.

2000: Commissioned Sulzer plant for fractioned fatty acids in Mumbai, India.

2001: Commissioned a manufacturing unit for bar soaps and personal care liquid products in Daman, India.

2002: Commissioned another soap manufacturing unit in Kutch, India.

2002: Commissioned a manufacturing unit for bar soaps and marketing operations in Ontario, Canada.

2003: Commissioned a manufacturing unit for bar soaps and marketing operations in Dubai, UAE.

2004: Commissioned the largest fatty alcohol plant in India using the latest Wax Ester technology in Taloja, India.

2005: Commissioned a soap noodle plant at Taloja, India.

2006: Commissioned a fatty acid fractional distillation plant and a fatty acid hydrogenation plant at Taloja, India.

2006: Facility at Taloja, India was approved by Kosher, USA.

2006: Acquired an anti-perspirant and deodorant stick manufacturing unit in Ontario, Canada.

2007: Acquired a major bar soap and home care liquid manufacturing facility in Kansas City, USA, from Colgate Palmolive, USA.

2007: Implemented quality systems at the Taloja facility and consequently achieved ISO 9001 : 2000 certification.

2008: Commissioned a manufacturing unit for bar soaps and talcum powder in Baddi, India.

2008: Acquired a bar soap and noodle manufacturing plant in Raciborz, Poland, from Henkel, Germany.

2009: Acquired a bar soap and anti-perspirant / deodorant stick manufacturing plant in Chicago, Illinois, from Dial Corporation, USA.

OLEO CHEMICALS

The Oleo chemicals business is company first and stills the largest business division. The Oleo Chemicals divisions today has grown from a small plant manufacturing vanaspati ghee (partially hydrogenated vegetable oils) to a very large and global operation manufacturing a variety of fatty alcohols, fatty acids, glycerine and soap noodles.

With manufacturing facilities in India, Dubai and Canada and prestigious clients spread across five continents, the Oleo chemicals business is truly a global multinational operation providing customers with quality products.

The Oleo chemicals business division has always been at the forefront of technology and has numerous firsts to its credit. Most recently, in 2004, they commissioned a fatty alcohol plant incorporating Lurgi’s Latest Wax Ester Technology, for the first time worldwide.

PERSONAL CARE

With decades of experience and specialized know how, they manufacture a complete range of world-class toiletries and cosmetics using the purest ingredients, state-of-the-art technology and ISO Certified processes. With the foundation of the strengths they have developed over the last several decades, their Personal Care Business is now growing at a phenomenal pace and is poised to introduce several products and services that will challenge current benchmarks in the industry.

Each product that they manufacture is tuned to greatly enhance both the outer beauty and inner well-being of their consumers and bring about a harmonious connection between mind, body and spirit. In essence, their effort is forever tuned towards connecting intimately with consumer needs and then creating products and services that give the customer a complete and unforgettable experience.

The Brands have always enjoyed a loyal and fast expanding consumer base. The popular brands include Doy, Doy Care AloeVera, Doy Care Crème, Jo and Shiff.

FULLY INTEGRATED OPERATIONS

The contract manufacturing operations are fully integrated and their various facilities are outlined below

Global Procurement and Bulk Storage of Vegetable Oils
Fat Splitting, Fatty Acid Distillation and Fractionation Plants
Glycerine Refining
Fatty Alcohol Manufacturing
Soap Noodle Plants and Soap Stamping Machinery
Soap Wrapping and Cartoning Machinery
Domestic and Export Logistics

The fully integrated model creates several advantages for their customers

A complete spectrum of quality toiletries and cosmetics manufactured under one roof
Steady Pricing due to continuous stock of Oil
Better Fatty Acids for Noodles by the use of state-of-the-art splitting and distillation
Lowered Cost due to manufacturing of all intermediate products
Very high quality finished products using cutting edge machinery
Trouble Free and Cost efficient deliveries through plants located in India , Dubai and Canada
Products and Services based on a complete understanding of quality parameters and the business needs
Long term cost advantage through strategic cooperation

LOCATIONS:

Subject has grown from a small single location company to a multilocation, global entity. The company has manufacturing plants at several locations in India as well as abroad.

Subject intends to expand its locations to better service its global customers most competitively.

INDIA

MUMBAI:

Subject has large integrated oleochemicals complex at Sion (East) in Mumbai.

The complex has various production facilities such as oil and fat splitting plants, fatty acid distillation plants, fatty acid fractionation units, fatty acid hydrogenation plants, glycerine refining and purification units, and continuous saponification plants obtained from global equipment suppliers of repute.

All these plants are controlled by fully automated distributed control systems (DCS). Modern, well-equipped quality control and RandD laboratories support these production facilities. This oleo chemicals complex is ISO 9001:2000 certified by TUV, Germany.

TALOJA:

The recently commissioned fatty alcohols plant is located at Taloja, about 50 km east of Mumbai. This plant is a part of a large proposed oleo chemicals complex spread over 68,000 sq. m. Oil and fat splitting plant, fatty acid distillation and fractionation units as well as specialized soap noodles plant are under construction.

The fatty alcohols plant has been commissioned in August 2004. The process know-how has been obtained from Lurgi, Germany. The latest Wax Ester Technology is used for the first time to produce high purity fatty alcohols from fatty acids.

NAVSARI:

Specialized soaps plant is located at Navsari in Gujarat State, approximately 290 km north of Mumbai. These specialized soaps are exported to USA and other developed countries for the hotel industry.

There are three dedicated, fully automated lines for manufacturing wrapped and cartoned soaps for export.

This facility is ISO 9001:2000 certified by TUV, Germany.

KUTCH:

One of the largest toilet soap manufacturing plant in India spread over 70,000 sq. m is located at Kutch in Gujarat State, approximately 900 km north of Mumbai. This facility houses various units to manufacture soap noodles, toilet soaps, refined glycerine and also talcum powder. There are seven fully automated toilet soap finishing lines. The glycerine manufacturing facility is capable of producing IP, BP and USP grades. The talcum powder unit is designed on pharmaceutical standards with a class 100,000 environment and follows GMP accordingly.

DAMAN:

The personal care products manufacturing facility is located at Daman, a Union Territory, about 200 km north of Mumbai. It has a total constructed area of 20,000 sq. m and is one of the most modern units suitable for pharmaceutical and cosmetics formulations. It is capable of producing liquids, creams and emulsions - formulations of various personal care products. The entire unit is designed to comply with a class 100,000 environment as per pharmaceutical norms. The facility meets cGMP requirements. It is also ISO 9001:2000 certified by TUV, Germany.

INTERNATIONAL

VVF North America Inc. produces and markets the following products -

Hotel / Motel Bar Soaps, wrapped and unwrapped Hotel size Bottles (30 styles to choose from)

Complete Stock Hotel Amenity Programs Custom Hotel Amenity Programs

Custom Hotel Accessory items Retail Soaps in various packaging

Bundled Retail Soaps Industrial Bar Soaps

Retail Liquids Deodorant Sticks in retail and travel sizes

CANADA - ONTARIO

VVF America manufactures anti-perspirants, deodorants and pain relieving sticks. The facility in Milton, Ontario also manufactures its deo containers. Markets served include private label and contract manufacturing.

U.S.A. – KANSAS

At the new Kansas City Plant, VVF will manufacture a full line of packaged cleaning products including soap bars, shampoos, liquid soaps, light duty liquids and other homecare and personal care products.
The Kansas City plant is a highly automated, state of the art soap and liquid cleaning products manufacturing facility, occupying over 25 acres and well served by rail and road links to the entire North American continent. The new plant will be used to service existing brand-name contract manufacturing customers, with whom they have business in Asia, Europe and the Middle East and North America. The new facility will be used to expand the business in the hospitality market, serving major hotel chains with soaps, shampoos and related products. The private label business with supermarket, mass merchandise and drugstore chains, will be extended to the US market using the new plant. The plant’s capacity is sufficient to enable them to achieve the market share and leadership in the US that they currently enjoy in the Southeast Asian market for the same products.

UAE - DUBAI (FOR MORE DETAILS LOG ON TO WWW.VVFDUBAI.COM).

VVF Dubai has two state-of-the art toiletry manufacturing plants, strategically located to deliver excellent logistic advantage to customers in Middle East, Africa and Europe. GCC and Arab league markets will benefit from custom duty exemption while importing from these plants.

The facilities can handle a wide range of products including transparent and translucent soaps, shampoos, lotions and creams. The liquid plant conforms to world class standards including USP 30 grade purified water.

POLAND - RACIBORZ

VVF Sp. z o. o acquired this robust facility from a global giant based in Germany. The plant manufactures soap noodles and finished soaps. With the completion of the upgradation of capacity, this plant will be capable of servicing the VVF customer base in the whole of Europe. Being centrally located and close to relatively competitive source of raw materials, the Raciborz plant will bring a lot of value to its customers.

Singapore

VVFSingapore Pte. Limited is a company engaged in the trading and marketing of oleo chemicals and their derivatives in South East Asia. The Company also facilitates sourcing of oleo chemicals for VVF Group companies around the world. It services a number of global customers in South East Asia and works with them in their development needs.

INDONESIA - MEDAN

PT. VVF Indonesia has started a large size greenfield project that will have positive implications for VVF plants and customers all over the world. This will be a well integrated facility which will exploit the availability of vegetable oils in the region, at world’s best rates.

VVF CHEMICALS LLC

VVF established oleo chemicals operations in North America in 2005. The company now has its head office in New Jersey with customer service and order entry in its Houston, TX office. Product is stored throughout the continent, convenient to customers. VVF has bulk storage tanks on the Houston ship channel from which it delivers to consumers across the NAFTA region by rail and road. VVF‘s rail fleet consists of purpose built and custom finished tank cars which are dedicated to VVF products only. The company also packaged goods warehouses in a number of locations including Newark, NJ< Memphis, TN, Chicago, IL and Los Angeles, CA. In addition VVF works closely with a group of dedicated distributors carrying the company’s products.
While enjoying the benefits that come from being part of a rapidly growing multinational oleo chemical and personal care products company, VVF in the US operates as the local partner in North America

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.49.08
UK Pound	1	Rs.78.65
Euro	1	Rs.67.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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		48

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.

MIRA INFORM REPORT

Soaps/Personal Care Products/ Oleochemicals

Personal Care Products/ Soaps

3287.837

3987.995

4344.947

2596.622

1882.346

2098.871

215.720

78.214

79.412

0.000

0.000

0.000

2417.634

1817.727

1828.327

8517.813

7766.282

8351.557

5837.181

5810.494

5104.972

313.764

282.230

111.266

40.014

38.230

141.986

6190.959

6130.954

5358.224

2326.854

1635.328

2993.333

2.23

(11.06)

3.00

3.28

(16.64)

4.08

2.84

(17.46)

3.78

0.19

(0.55)

0.18

6.34

6.95

4.13

1.38

1.27

1.56

Unit