MIRA INFORM REPORT

Report Date :

21.11.2011

IDENTIFICATION DETAILS

Name :	HIND AGRO INDUSTRIES LIMITED
Registered Office :	Central Dairy Farm Complex, Anupshahr Road, Aligarh – 202 122, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	31.05.1994
Com. Reg. No.:	20-16502
Capital Investment / Paid-up Capital :	Rs.331.501 millions
CIN No.: [Company Identification No.]	U01211UP1994PLC016502
TAN No.: [Tax Deduction & Collection Account No.]	AGRH10223D
PAN No.: [Permanent Account No.]	AAACH5783J
Legal Form :	A closely held public limited liability company.
Line of Business :	Trader of Fresh, Chilled And Frozen Meat and Meat Products.
No. of Employees :	350 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 3500000
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 for normal 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. Vijay Gupta
Designation :	General Manager in Finance

LOCATIONS

Registered Office :	Central Dairy Farm Complex, Anupshahr Road, Aligarh – 202 122, Uttar Pradesh, India
Tel. No.:	91-571-2704786
Fax No.:	91-571-2701586
E-Mail :	info@hind.in sgupta.cs@hind.in sbhatia.cs@hind.in
Website :	http://www.hindagro.com
Area :	10000 sq. ft.
Location :	Owned
Corporate Office :	Plot No. A-1, Phase 1, Okhla Industrial Area, New Delhi – 110 020, India
Tel. No.:	91-11-26372786-92
Fax No.:	91-11-26817941-42

DIRECTORS

As on 18.09.2010

Name :	Mr. Sirajuddin Qureshi
Designation :	Managing Director
Address :	69, Siddhartha Enclave, New Delhi – 110 014, India
Date of Birth/Age :	15.06.1948
Date of Appointment :	31.05.1994
DIN No.:	00004536

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	U74899DL1984PTC018139	Al- Mashriq Exports Private Limited	Director	11-05-84	11-05-84	-	Active	NO
2	L74899DL1973PLC006667	Hind Industries Limited	Managing director	06-08-11	06-08-88	-	Active	NO
3	U74899DL1990PTC042197	Eatcco Foods Private Limited	Director	27-11-90	27-11-90	-	Active	NO
4	U74899DL1991PTC045366	Samar Travels and Cargo Private Limited	Director	14-08-91	14-08-91	-	Active	NO
5	U17292DL1993PTC054933	Mak Enterprise Private Limited	Director	20-08-93	20-08-93	-	Active	NO
6	U74899DL1994PLC058302	Hind Infra Engineers Limited	Director	06-04-94	06-04-94	-	Active	NO
7	U01211UP1994PLC016502	Hind Agro Industries Limited	Managing director	06-09-09	31-05-94	-	Active	NO
8	U74899DL1994PTC062669	Hind Fincap Private Limited	Director	11-11-94	11-11-94	-	Active	NO
9	U62100DL1996PTC077892	Hind Air Services Private Limited	Director	08-04-96	08-04-96	-	Active	NO
10	U13209DL1996PTC080816	Hind Soils Private Limited	Director	01-08-96	01-08-96	-	Active	NO
11	U67120DL1994PTC061796	Neptune Capital Management Company Private Limited	Director	27-10-97	27-10-97	-	Active	NO
12	U63040DL1997PTC091241	Hind Airways Private Limited	Director	19-12-97	19-12-97	-	Active	NO
13	U63040DL1997PTC091243	Hind Air Express Private Limited	Director	19-12-97	19-12-97	-	Active	NO
14	U63040DL1997PTC091244	Hind Air Star Private Limited	Director	19-12-97	19-12-97	01-01-10	Active	NO
15	U70101DL1998PTC091449	Hind Air Link Private Limited	Director	01-01-98	01-01-98	-	Active	NO
16	U28991WB1984PTC037132	Neeti Ishpat Private Limited	Director	14-08-01	14-08-01	-	Active	NO
17	U01300DL1996PLC082843	Agriotek Foods Limited	Director	01-04-02	01-04-02	-	Active	NO
18	U74999DL2003NPL122812	India-Kuwait Chamber Of Commerce	Director	24-10-03	24-10-03	-	Dormant	NO
19	U74999DL2004NPL125690	Federation Of India-Arab Chamber Of Commerce And Industry	Director	07-04-04	07-04-04	-	Active	YES
20	U74920DL2005PTC132402	Straight Security Solutions Private Limited	Director	25-01-05	25-01-05	-	Active	NO
21	U11100DL2005PTC132446	Hind Natural Resources Private Limited	Director	27-01-05	27-01-05	-	Active	NO
22	U15419DL2005PTC132500	Fast Trax Food Private Limited	Director	28-01-05	28-01-05	-	Active	NO
23	U74999DL2005PTC132499	Integrated Livestock Village Farm Private Limited	Director	28-01-05	28-01-05	-	Active	NO
24	U92120DL2005PTC137320	Lifestyle TV (India) Private Limited	Director	07-06-05	07-06-05	-	Active	NO
25	U15440DL2005PTC138456	SQ-Foods Private Limited	Director	07-07-05	07-07-05	-	Active	NO
26	U74899DL2006PTC145544	Hind Renewable Energy Private Limited	Director	30-01-06	30-01-06	-	Active	NO
27	U24231DL2006PLC146918	Hind Bio-Pharmaceuticals Limited	Director	28-02-06	28-02-06	-	Active	NO
28	U72295DL2006PTC148475	Hind Techno Consultants Private Limited	Director	26-04-06	26-04-06	-	Active	NO
29	U63011DL2006PTC148729	Aero Trans Logistics Private Limited	Director	10-05-06	10-05-06	-	Active	NO
30	U72900DL2007PTC161464	SQ Global Network Infusion Private Limited	Director	31-03-07	31-03-07	-	Active	NO
31	U74140DL1955GOI002481	National Small Industries Corporation Limited	Additional director	24-06-10	24-06-10	-	Active	NO
32	U74999DL2011PTC222537	FX Sports Management Private Limited	Director	19-07-11	19-07-11	-	Active	NO

Name :	Mr. Kiran Qureshi
Designation :	Director
Address :	69, Siddhartha Enclave, New Delhi – 110 014, India
Date of Birth/Age :	01.03.1950
Date of Appointment :	31.05.1994
DIN No.:	00005718

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	U74899DL1984PTC018139	Al- Mashriq Exports Private Limited	Director	11-05-84	11-05-84	-	Active	NO
2	L74899DL1973PLC006667	Hind Industries Limited	Director	06-08-88	06-08-88	-	Active	NO
3	U74899DL1990PTC042197	Eatcco Foods Private Limited	Director	27-11-90	27-11-90	-	Active	NO
4	U74899DL1994PLC058302	Hind Infra Engineers Limited	Director	06-04-94	06-04-94	-	Active	NO
5	U01211UP1994PLC016502	Hind Agro Industries Limited	Director	31-05-94	31-05-94	-	Active	NO
6	U74899DL1994PTC062669	Hind Fincap Private Limited	Director	11-11-94	11-11-94	-	Active	NO
7	U13209DL1996PTC080816	Hind Soils Private Limited	Director	01-08-96	01-08-96	-	Active	NO
8	U63040DL1997PTC091241	Hind Airways Private Limited	Director	19-12-97	19-12-97	-	Active	NO
9	U63040DL1997PTC091243	Hind Air Express Private Limited	Director	19-12-97	19-12-97	-	Active	NO
10	U63040DL1997PTC091244	Hind Air Star Private Limited	Director	19-12-97	19-12-97	01-01-10	Active	NO
11	U70101DL1998PTC091449	Hind Air Link Private Limited	Whole-time director	01-10-06	01-01-98	-	Active	NO
12	U74920DL2005PTC132402	Straight Security Solutions Private Limited	Director	25-01-05	25-01-05	-	Active	NO
13	U92120DL2005PTC137320	Lifestyle Tv (India) Private Limited	Director	07-06-05	07-06-05	-	Active	NO
14	U24231DL2006PLC146918	Hind Bio-Pharmaceuticals Limited	Director	28-02-06	28-02-06	-	Active	NO
15	U72295DL2006PTC148475	Hind Techno Consultants Private Limited	Director	26-04-06	26-04-06	-	Active	NO
16	U63011DL2006PTC148729	Aero Trans Logistics Private Limited	Director	10-05-06	10-05-06	-	Active	NO
17	U74999DL2011PTC222537	FX Sports Management Private Limited	Director	19-07-11	19-07-11	-	Active	NO

Name :	Mr. Samar Qureshi
Designation :	Whole Time Director
Address :	69, Siddhartha Enclave, New Delhi – 110 014, India
Date of Birth/Age :	12.01.1974
Date of Appointment :	31.03.2004
DIN No.:	00005728

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	U74899DL1991PTC045366	Samar Travels And Cargo Private Limited	Director	14-08-91	14-08-91	Active	NO
2	U62100DL1996PTC077892	Hind Air Services Private Limited	Director	08-04-96	08-04-96	Active	NO
3	U01211UP1994PLC016502	Hind Agro Industries Limited	Whole-time director	01-10-10	31-03-04	Active	NO
4	U11100DL2005PTC132446	Hind Natural Resources Private Limited	Director	27-01-05	27-01-05	Active	NO
5	U15419DL2005PTC132500	Fast Trax Food Private Limited	Director	28-01-05	28-01-05	Active	NO
6	U74999DL2005PTC132499	Integrated Livestock Village Farm Private Limited	Director	28-01-05	28-01-05	Active	NO
7	U92120DL2005PTC137320	Lifestyle Tv (India) Private Limited	Director	07-06-05	07-06-05	Active	NO
8	U15440DL2005PTC138456	Sq-Foods Private Limited	Director	07-07-05	07-07-05	Active	NO
9	U74999DL2004NPL125690	Federation Of India-Arab Chamber Of Commerce And Industry	Director	01-09-05	01-09-05	Active	YES
10	U74899DL2006PTC145544	Hind Renewable Energy Private Limited	Director	30-01-06	30-01-06	Active	NO
11	U72295DL2006PTC148475	Hind Techno Consultants Private Limited	Director	26-04-06	26-04-06	Active	NO
12	U63011DL2006PTC148729	Aero Trans Logistics Private Limited	Director	10-05-06	10-05-06	Active	NO
13	U72900DL2007PTC161464	Sq Global Network Infusion Private Limited	Director	31-03-07	31-03-07	Active	NO
14	U63040DL1997PTC091244	Hind Air Star Private Limited	Additional director	16-12-09	16-12-09	Active	NO
15	U74999DL2011PTC222537	Fx Sports Management Private Limited	Director	19-07-11	19-07-11	Active	NO

Name :	Mr. Surendra Kumar Ranjhan
Designation :	Director
Address :	H-334, New Rajinder Nagar, New Delhi – 110 060, India
Date of Birth/Age :	13.10.1934
Date of Appointment :	12.03.1996
DIN No.:	00005854

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	U01211UP1994PLC016502	Hind Agro Industries Limited	Director	12-03-96	12-03-96	Active	NO
2	U24231DL2006PLC146918	Hind Bio-Pharmaceuticals Limited	Director	28-02-06	28-02-06	Active	NO
3	U72295DL2006PTC148475	Hind Techno Consultants Private Limited	Director	15-10-09	15-10-09	Active	NO
4	L74899DL1973PLC006667	Hind Industries Limited	Director	26-09-11	12-08-11	Active	NO

Name :	Mr. Brij Bhushan Huria
Designation :	Director
Address :	90, Maitri Apartment, Mayur Vihar Phase 1, New Delhi – 110 091, India
Date of Birth/Age :	01.04.1944
Date of Appointment :	30.06.2007
DIN No.:	00015434

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	U67190DL1997PTC086033	Micro Fincap Private Limited	Director	21-03-97	21-03-97	27-01-09	Active	NO
2	L74899DL1973PLC006667	Hind Industries Limited	Director	16-10-98	16-10-98	-	Active	NO
3	L72900HR1994PLC033398	Saral Mining Limited	Director	29-04-03	29-04-03	16-02-08	Active	NO
4	L29211CH1992PLC012321	Agro Dutch Industries Limited	Director	27-04-06	27-04-06	-	Active	NO
5	U01211UP1994PLC016502	Hind Agro Industries Limited	Director	26-09-07	30-06-07	-	Active	NO

Name :	Mr. Har Sharan Das
Designation :	Director
Address :	7 Dalibagh Ganna Santhan, 27 New Berry Road, Lucknow – 226 001, Uttar Pradesh, India
Date of Birth/Age :	15.06.1955
Date of Appointment :	02.07.2009
DIN No.:	02268334

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	U01131UP1975SGC004163	Uttar Pradesh (Paschim) Ganna Beej Evam Vikas Nigam Limited	Director	03-04-08	03-04-08	27-09-10	Active	NO
2	U15421UP1971SGC003393	Uttar Pradesh State Sugar Corporation Limited	Director	04-07-08	04-07-08	-	Active	YES
3	U15424UP2002SGC026671	Uttar Pradesh Rajya Chini Avam Ganna Vikash Nigam Limited	Director	04-07-08	04-07-08	-	Active	YES
4	U15429UP1986SGC007942	Ghatampur Sugar Company Limited	Director	21-07-08	21-07-08	20-06-09	Active	YES
5	U01211UP1994PLC016502	Hind Agro Industries Limited	Nominee director	02-07-09	02-07-09	-	Active	NO

Name :	Mr. Rakesh Gupta
Designation :	Nominee Director
Address :	No. 23, New Berry Road, Lucknow – 226 001, Uttar Pradesh, India
Date of Birth/Age :	01.09.1956
Date of Appointment :	06.08.2009
DIN No.:	02762047

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	L50102UP1982PLC015532	Pasupati Acrylon Limited	Nominee director	15-05-09	15-05-09	Active	NO
2	U01211UP1994PLC016502	Hind Agro Industries Limited	Nominee director	06-08-09	06-08-09	Active	NO

Name :	Mr. Kishan Datt Sharma
Designation :	Nominee Director
Address :	A-17, Picup Colony, 12 Jopling Road, Lucknow – 201 001, Uttar Pradesh, India
Date of Birth/Age :	25.09.1956
Date of Appointment :	06.08.2009
DIN No.:	02772049

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	L50102UP1982PLC015532	Pasupati Acrylon Limited	Nominee director	15-05-09	15-05-09	Active	NO
2	U01211UP1994PLC016502	Hind Agro Industries Limited	Nominee director	06-08-09	06-08-09	Active	NO

Name :	Mr. Biswajit Banerjee
Designation :	Director
Address :	C-1/101, IFCI Flat, Ramprastha PO Chander Nagar, Ghaziabad – 201 301, Uttar Pradesh, India
Date of Birth/Age :	25.02.1961
Date of Appointment :	11.08.2009
DIN No.:	02602582

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	L32101UP1973PLC003706	Willard India Limited	Nominee director	30-10-04	30-10-04	28-04-08	Active	YES
2	U01211UP1994PLC016502	Hind Agro Industries Limited	Nominee director	11-08-09	11-08-09	-	Active	NO
3	U67120MH1990GAT058298	OTC Exchange of India	Nominee director	17-02-11	17-02-11	-	Active	NO
4	U93000TN2009PLC070524	IFIN Commodities Limited	Additional director	12-10-11	12-10-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ram Kumar Goel
Designation :	Secretary
Address :	H. No. 353, Sector 29, Noida – 201 303, Gautambudh Nagar, Uttar Pradesh, India
Date of Birth/Age :	01.08.1956
Date of Appointment :	09.05.2008

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 18.09.2010

Names of Shareholders	No. of Shares
Sirajuddin Qureshi	20
Kiran Qureshi	10
Shehla Qureshi	10
Samar Qureshi	10
Mohd. Abdul Haleem	10
Mohd. Naseem Qureshi	10
Pashudhan UP Udhyog Limited, India	2000000
Hind Industries Limited, India	24250000
P.I.C.U.P Limited, India	4200000
I.F.C.I. Limited, India	2700000
Total	33150070

As on 18.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	73.15
Government companies	6.03
Public financial companies	20.82
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Fresh, Chilled And Frozen Meat and Meat Products.

Products :

Product Description	Item Code
Fresh Chilled Frozen Meat and Meat Product	020610

· Top Side

· Silver Side

· Tenderloin

· Knuckle

· Rump

· Chuck

· Neck

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity
Boneless Veal (Buffalo) Frozen	M.T, P.A	9000	9000
Boneless Buffalo Frozen	M.T, P.A	102000	102000
Sheep Fresh	M.T, P.A	9000	9000

Particulars	Unit	Actual Production
Buffalo	Qty in MT	54929.627
Fresh	Qty in MT	3.800

GENERAL INFORMATION

No. of Employees :

350 (Approximately)

Bankers :

Punjab National Bank - Lead of Consortium Banks

International Banking Division, DCM Building, 16, Barakhamba Road, New Delhi – 110 001, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Rupee Term Loan
IFCI Negotiated Loan	58.200	104.760
IDBI Negotiated Loan	26.000	76.000
IDBI Funded (interest) Loan	2.528	7.688
Interest accrued and Due IDBI	2.913	2.913
Liability under IFCI Restructuring Account	39.627	71.329
Liability under IDBI Restructuring Account (Secured by mortgage of land together with building constructed or to be constructed thereon and first charge on all the assets of the company both present and future in favour of FI’s ranking pari passu subject to prior charges on specific movables created in favour of the Company’s Bankers for securing working capital facilities. The loan is also secured by way of irrevocable and unconditional corporate guarantee of the holding company i.e. Hind Industries Limited)	7.255	21.207
Working Capital Loans from Banks (Secured against hypothecation of stocks and book debts and second charge on fixed assets along with personal guarantees of two directors and partly by the corporate guarantee of Hind Industries Limited )	1278.409	1118.515
Deferred payments credit against purchase of vehicles (Secured against hypothecation of vehicles - repayable within one year Rs.11.872 millions) (Previous Year Rs. 14.566 millions)	19.193	29.377
Total	1434.125	1431.789
Unsecured Loan
From Holding Company	15.000	15.000
Total	15.000	15.000

Banking Relations :	--
Auditors :
Name :	Vipin Aggarwal and Associates Chartered Accountants
Address :	E-4, 2^nd Floor, Defence Colony, New Delhi – 110 024, India
PAN No.:	AAAFV5918J
Holding Company :	Hind Industries Limited Address: Central Dairy Farm Complex, Anupshahr Road, Aligarh-202122, Uttar Pradesh, India Line of Business: Manufacturer of export of fresh meat products. CIN No.: L74899DL1973PLC006667

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
46000000	Equity Shares	Rs.10/- each	Rs.460.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
33150070	Equity Shares	Rs.10/- each	Rs.331.501 Millions

Out of the above:

· 2000000 Equity Shares allotted as fully paid up pursuant to a contract without payment being received in cash.

· 24250000 Equity Shares are held by the holding Company - Hind Industries Limited.

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		331.501	331.501	331.501
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		552.493	500.490	348.811
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		883.994	831.991	680.312
LOAN FUNDS
1] Secured Loans		1434.125	1431.789	1437.719
2] Unsecured Loans		15.000	15.000	15.000
TOTAL BORROWING		1449.125	1446.789	1452.719
DEFERRED TAX LIABILITIES		0.000	0.000	11.165
TOTAL		2333.119	2278.780	2144.196
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		790.952	831.494	859.767
Capital work-in-progress		56.734	37.725	32.223
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		71.843	93.897	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	612.011	613.265	554.432
	Sundry Debtors	685.406	779.388	553.474
	Cash & Bank Balances	149.268	192.937	88.907
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	624.812	492.230	389.705
Total Current Assets		2071.497	2077.820	1586.518
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	620.382	737.616	108.554
	Other Current Liabilities	0.204	0.344	210.082
	Provisions	37.321	24.196	15.676
Total Current Liabilities		657.907	762.156	334.312
Net Current Assets		1413.590	1315.664	1252.206
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2333.119	2278.780	2144.196

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	6861.254	6328.193	3596.712
		Other Income	57.226	55.617	39.536
		TOTAL (A)	6918.480	6383.810	3636.248
Less	EXPENSES
		Material consumed and manufacturing expenses	6121.783	5776.267	3091.899
		Employee remuneration and benefits	33.202	27.101	22.270
		Administrative and other expenses	67.427	61.426	37.147
		Marketing expenses	372.652	257.756	345.584
		Increase/ decrease in stocks	10.406	(54.691)	(66.716)
		TOTAL (B)	6605.470	6067.859	3430.184
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		313.010	315.951	206.064
Less	FINANCIAL EXPENSES (D)		153.001	195.471	117.067
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		160.009	120.480	88.997
Less/ Add	DEPRECIATION/ AMORTISATION (F)		66.613	64.525	64.008
	PROFIT BEFORE TAX (E-F) (G)		93.396	55.955	24.989
Less	TAX (H)		41.393	(95.724)	2.130
	PROFIT AFTER TAX (G-H) (I)		52.003	151.679	22.859
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		500.490	348.811	325.952
	BALANCE CARRIED TO THE B/S		552.493	500.490	348.811
	EARNINGS IN FOREIGN CURRENCY		6208.756	5480.969	3026.801
	IMPORTS
	Capital Goods		0.555	3.928	0.270
	Spares		3.688	2.196	0.662
	TOTAL IMPORTS		4.243	6.124	0.932
	Earnings Per Share (Rs.)		1.57	4.58	0.69

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.75	2.38	0.63
Net Profit Margin (PBT/Sales)	(%)	1.36	0.88	0.69
Return on Total Assets (PBT/Total Assets}	(%)	3.28	1.92	1.02
Return on Investment (ROI) (PBT/Networth)		0.11	0.07	0.04
Debt Equity Ratio (Total Liability/Networth)		2.38	2.67	2.63
Current Ratio (Current Asset/Current Liability)		3.15	2.73	4.75

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS

The financial performance of the company has improved during the year. The turnover of the company increased to Rs.6861.300 Millions during the year 2009-10 from Rs.6328.200 Millions in the previous financial year 2008-09, thereby making a growth of around 8.42% during the year. Profit before Tax increased to Rs.93.400 Millions as compared to Rs.55.900 Millions in the previous year ended 31st March, 2009.

PROSPECTS

Having witnessed faster recovery in World Economy in 2009, IMF estimates a positive economic rebound in 2010. World GDP growth is estimated at the rate of 4.2% in 2010 while Advanced World and Emerging World is estimated to grow 2.3% and 6.3%, respectively. Further WTO projects World Trade to expand by 9.5% with Advanced World increasing by 7.5% and Emerging World by 11%. Nonetheless, with the timely stimulated economic efforts, the depth, span and intensity of the economic catastrophic spread in 2008, seems to be partially taken care of. Even in these trying times, India has shown an Economic Growth of 7.2% and prospects for the Economy look far better and promising in 2010-11.

The company last year bagged work order for constructing, operating and maintaining of Modern Slaughter House at Perambur, Chennai on Design, Build, Operate and Transfer (DBOT) basis, the construction has already started and Commencement of Production is expected in year 2010-11.

The company is committed to provide the highest quality of products to its customers and continue to maintain its overseas markets share. Efforts are also underway to improve processes and operations to maximize gain and reduce cost.

CONTINGENT LIABILITIES NOT PROVIDED FOR

Particulars	As on 31.03.2010 Rs. in millions
Outstanding guarantee & counter guarantee to various banks.	32.806

FORM 8

This form is for	Modification of charge
Charge identification number of the modified	90280907
Corporate identity number of the company	U01211UP1994PLC016502
Name of the company	HIND AGRO INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	Central Dairy Farm Complex, Anupshahr Road, Aligarh – 202 122, Uttar Pradesh, India
Type of charge	Immovable property Book debts Others 1st Charge on Current Assets and 2nd Charge on F.A.
Particular of charge holder	Punjab National Bank - Lead of Consortium Banks International Banking Division, DCM Building, 16, Barakhamba Road, New Delhi – 110 001, India
Nature of description of the instrument creating or modifying the charge	1. Resolution of Finance Committee Meeting of Directors Dated 19-10-2011 2. Hypothecation Agreement for Current Assets Dated 19-10-2011 3. Hypothecation Agreement for Moveable Assets Dated 19-10-2011
Date of instrument Creating the charge	19.10.2011
Amount secured by the charge	Rs.2235.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of interest As per various Sanction Letters/Loan Agreements. Terms of repayment As per various Sanction Letters/Loan Agreements. Margin As per various Sanction Letters/Loan Agreements. Extent and operation of the charge As per various Sanction Letters/Loan Agreements.
Short particulars of the property charged	By way of 1st Pari-passu charge on all the Current Assets of the Company stored at the Registered Office/Factory at CDF Complex, Anupshahr Road, Aligarh, U.P. and other Places/Warehouses. By way of 2nd Pari-passu charge on the Fixed Assets of the Company situated at CDF Complex, Anupshahr Road, Aligarh, U.P. Equitable Mortgage on the Properties of Al-Mashriq Exports Private Limited situated at village Kranki, Sohna Road, Gurgaon, Haryana.
Particulars of the present modification	1. The Punjab National Bank had sanctioned 50.000 millions FOBP Limits on Ad-hoc Basis. 2. The details of Past and Present Individual Limits of Banks are as under: A) Punjab National Bank (IBB) New Delhi Rs.1078.000 millions (Old Rs.1028.000 millions) B) Dena Bank (S K Road) Aligarh Rs.627.500 millions (Old Rs.627.500 millions) C) Indian Bank (Main Branch) New Delhi Rs.529.500 millions (Old Rs.529.500 millions) TOTAL Rs.2235.000 millions

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Vehicles

· Trucks

· Furniture and Fixtures

· Computers

· Office Equipments

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.51.35
UK Pound	1	Rs.80.97
Euro	1	Rs.69.25

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	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.