1. Summary Information

		Country	India
Company Name	ANIK INDUSTRIES LIMITED	Principal Name 1	Mr. Kailash Chandra Shahra
Status	Satisfactory	Principal Name 2	Mr. Suresh Chandra Shahra
		Registration #	11-136836
Street Address	610, Tulsiani Chambers, Nariman Point, Mumbai – 400 021, Maharashtra, India
Established Date	10.02.1976	SIC Code	--
Telephone#	91-22-22824851 /53 / 58 / 59 / 63 / 22886871	Business Style 1	Supplier
Fax #	91-22-22042865	Business Style 2	Manufacturer
Homepage	http://www.anikgroup.com	Product Name 1	Dairy Products
# of employees	Not Available	Product Name 2	Pure Ghee
Paid up capital	Rs.277,534,860/-	Product Name 3	--
Shareholders	Foreign holdings - 22.31% Bodies corporate - 49.46% Directors or relatives of Directors - 15.95% Other top fifty shareholders - 2.45% Others - 9.76%	Banking	IDBI Bank Limited
Public Limited Corp.	Yes	Business Period	36 Years
IPO	Yes	International Ins.	-
Public Enterprise	Yes	Rating	Ba (49)
Related Company
Relation	Country	Company Name	CEO
Associate/ Joint Venture :	--	Mahakosh Property Developers (a firm where company is a partner)	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	5,344,209,000	Current Liabilities	3,441,358,000
Inventories	1,580,693,000	Long-term Liabilities	2,582,409,000
Fixed Assets	1,198,271,000	Other Liabilities	102,328,000
Deferred Assets	0.000	Total Liabilities	6,126,095,000
Invest& other Assets	161,211,000	Retained Earnings	1,880,754,000
		Net Worth	2,158,289,000
Total Assets	8,284,384,000	Total Liab. & Equity	8,284,384,000
Total Assets (Previous Year)	8,938,560,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	12,755,637,000	Net Profit	100,920,000
Sales(Previous yr)	12,168,135,000	Net Profit(Prev.yr)	110,606,000

MIRA INFORM REPORT

Report Date :

09.08.2012

IDENTIFICATION DETAILS

Name :	ANIK INDUSTRIES LIMITED (w.e.f. 08.09.2006)
Formerly Known As :	MADHYA PRADESH GLYCHEM INDUSTRIES LIMITED
Registered Office :	610, Tulsiani Chambers, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.02.1976
Com. Reg. No.:	11-136836
Capital Investment / Paid-up Capital :	Rs.277.535 Millions
CIN No.: [Company Identification No.]	L24118MH1976PLC136836
PAN No.: [Permanent Account No.]	AAACM2696K
Legal Form :	A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange.
Line of Business :	Supplier and Manufacturer of Dairy Products and Pure Ghee
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 8600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financially company is performing well. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealing at usual trade terms and condition.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term rating = BBB
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation it carry moderate credit risk
Date	April, 2012

Rating Agency Name	CARE
Rating	Short term rating = A3+
Rating Explanation	Having moderate degree of safety regarding timely payment of financial obligation
Date	April, 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DECLINED

Name :	Mr. Nikhil Shah
Designation :	Business Head
Contact No.:	91-731-4018009
Date :	07.08.2012

LOCATIONS

Registered Office :	610, Tulsiani Chambers, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22824851 /53 / 58 / 59 / 63 / 22886871
Fax No.:	91-22-22042865
E-Mail :	anik@anikgroup.com shailesh_kumath@anikgroup.com
Website :	http://www.anikgroup.com
Corporate Office / Factory 1:	2/1, South Tukoganj, Behind High Court, Indore – 452001, Madhya Pradesh, India
Tel. No.:	91-731-4018009 / 10
Fax No.:	91-731-2513285
Dairy Units
Factory 2 :	Unit I – Village Bilawali, Dist. Dewas, Madhya Pradesh, India
Factory 3 :	Unit II – Village Bilawali, Dist. Dewas, Madhya Pradesh, India
Factory 4 :	Dairy Complex, Kasganj Road, Etah, Madhya Pradesh, India
Factory 5 :	Govindpura Industrial Area, Bhopal, Madhya Pradesh, India
Wind Power Units
Factory 6 :	Village Gorera, Dist. Jaisalmer, Rajasthan, India
Factory 7 :	Village Nagda, Dist. Dewas, Madhya Pradesh, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Kailash Chandra Shahra

Designation :

Director

Address :

29, Old Palasia, A.B. Road, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

31.01.1938

Date of Appointment :

26.07.1993

DIN No.:

00062698

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999MH1979PTC028051	SHAHRA BROTHERS PRIVATE LIMITED	Director	19/12/1979	19/12/1979	-	Active	NO
2	L15140MH1986PLC038536	RUCHI SOYA INDUSTRIES LIMITED	Director	7/1/1986	7/1/1986	-	Active	NO
3	L27100MH1985PLC140379	NATIONAL STEEL AND AGRO INDUSTRIES LIMITED	Director	13/12/1986	13/12/1986	-	Active	NO
4	L27100MH1987PLC142326	RUCHI STRIPS AND ALLOYS LIMITED	Director	1/11/1989	1/11/1989	-	Active	NO
5	L24118MH1976PLC136836	ANIK INDUSTRIES LIMITED	Director	26/07/1993	26/07/1993	-	Active	NO
6	U67200MP1999PLC013660	NATIONAL BOARD OF TRADE LTD	Director	30/07/1999	30/07/1999	-	Active	NO
7	U27100MH2004PLC144559	INDIAN STEEL CORPORATION LIMITED	Director	1/2/2005	1/2/2005	-	Active	NO
8	U45200MH1998PTC117520	CHHATTISGARH IRON AND STEEL COMPANY PRIVATE LIMITED	Director	9/4/2005	9/4/2005	20/03/2008	Active	NO
9	U91990MH2004GAP147894	FEDERATION OF INDIAN COMMODITY EXCHANGES	Director	1/2/2006	1/2/2006	-	Active	NO
10	U26942MP1992PTC007329	REVATI CEMENTS PRIVATE LIMITED	Director	30/08/2011	1/12/2007	-	Active	NO
11	U01112MP2010PTC023497	SHAHRA SONS PRIVATE LIMITED	Director	6/5/2010	6/5/2010	-	Active	NO
12	U51200MP2010PTC023507	MAHADEO SHAHRA AND SONS PRIVATE LIMITED	Director	7/5/2010	7/5/2010	-	Active	NO

Name :

Mr. Suresh Chandra Shahra

Designation :

Managing Director

Address :

29, Old Palasia, A.B. Road, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

01.07.1943

Date of Appointment :

26.07.1993

DIN No.:

00062762

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999MH1979PTC028051	SHAHRA BROTHERS PRIVATE LIMITED	Director	19/12/1979	19/12/1979	-	Active	NO
2	L24118MH1976PLC136836	ANIK INDUSTRIES LIMITED	Managing director	1/8/2008	26/07/1993	-	Active	NO
3	U45200MH1996PTC096642	RUCHI REALTY PRIVATE LIMITED	Director	29/01/1996	29/01/1996	-	Active	NO
4	U45207MH2007PLC173442	RUCHI REALTY HOLDINGS LIMITED	Director	30/12/2008	25/03/2008	-	Active	NO
5	U51200MH1994PTC077085	SHAHRA ESTATE PRIVATE LIMITED	Director	30/09/2011	1/9/2011	-	Active	NO

Name :

Mr. Manish Shahra

Designation :

Director

Address :

29, Old Palasia, A.B. Road, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

16.02.1971

Date of Appointment :

26.04.1993

DIN No.:

00230392

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45203MP1988PTC004327	DEEPTI HOUSING PRIVATE LIMITED	Director	11/5/1990	11/5/1990	-	Active	NO
2	L24118MH1976PLC136836	ANIK INDUSTRIES LIMITED	Managing director	1/7/2011	26/04/1993	-	Active	NO
3	U40105MP1994PLC008600	RUCHI POWER CORPORATION LIMITED	Director	8/9/1994	8/9/1994	28/07/2011	Active	NO
4	U32204MP1994PLC008151	RUCHI INFOTECH LIMITED	Director	1/1/2000	1/1/2000	-	Active	NO
5	U45200MH2005PTC155055	BRIGHTSTAR INFRASTRUCTURE PRIVATE LIMITED	Director	24/04/2007	24/04/2007	-	Active	NO
6	U45207MH2007PLC173442	RUCHI REALTY HOLDINGS LIMITED	Director	24/08/2007	24/08/2007	-	Active	NO
7	U67120MH1994PTC080658	NEHA SECURITIES PRIVATE LIMITED	Director	11/3/2008	11/3/2008	-	Active	NO
8	U55101MH1996PTC097718	ANKESH RESORTS AND HOTELS PRIVATE LIMITED	Director	11/3/2008	11/3/2008	-	Active	NO
9	U27310MH2008PTC181326	ANIK FERRO-ALLOYS PRIVATE LIMITED	Director	21/04/2008	21/04/2008	31/03/2011	Active	NO
10	U40102MH2008PTC181377	ANIK ENERGY PRIVATE LIMITED	Director	22/04/2008	22/04/2008	-	Active	NO
11	U40102MH2008PTC182933	ANIK PRECIOUS METALS PRIVATE LIMITED	Director	31/05/2008	31/05/2008	-	Active	NO
12	U40109MH2010PTC201024	ANIK RENEWABLE ENERGY PRIVATE LIMITED	Director	18/03/2010	18/03/2010	-	Active	NO
13	U40300MH2010PTC201045	SAMRIDHI POWER GENERATION PRIVATE LIMITED	Director	19/03/2010	19/03/2010	-	Active	NO
14	U40101MH2010PTC201044	NAV NIRMAN VIDYUT UTPADAN PRIVATE LIMITED	Director	19/03/2010	19/03/2010	-	Active	NO
15	U45202MH2010PTC206559	NEBULA INFRATECH PRIVATE LIMITED	Director	12/8/2010	12/8/2010	-	Active	NO
16	U55101MH2010PTC208103	SONAKSHI HOTELS PRIVATE LIMITED	Director	23/09/2010	23/09/2010	-	Active	NO
17	U55204MH1996PTC096486	VISHAL RESORTS AND HOTELS PRIVATE LIMITED	Additional director	1/10/2011	1/10/2011	-	Active	NO
18	AAA-3945	NAKSHATRA DEVCON LLP	Body corporate as Designated Partner	28/02/2011	28/02/2011	-	Active	NO

Name :

Mr. Ashok Kumar Trivedi

Designation :

Whole-Time Director

Address :

1857 /2, Subhadra Nagar, Jabalpur – 482001, Madhya Pradesh, India

Date of Birth/Age :

17.06.1955

Date of Appointment :

25.01.1989

DIN No.:

00350507

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L24118MH1976PLC136836	ANIK INDUSTRIES LIMITED	Whole-time director	1/4/2011	25/01/1989	-	Active	NO
2	U01122MP1998PTC012778	AVANTIKA FARMS PRIVATE LIMITED	Director	16/04/1998	16/04/1998	-	Active	NO
3	U55101MP1998PTC012898	AGILE RESORTS PRIVATE LIMITED	Director	18/06/1998	18/06/1998	30/03/2012	Active	NO
4	U13100MP2006PTC018743	KYMORE IRON ORE PRIVATE LIMITED	Director	2/4/2008	2/4/2008	4/5/2010	Active	NO
5	U40102MH2008PTC181377	ANIK ENERGY PRIVATE LIMITED	Director	22/04/2008	22/04/2008	-	Active	NO
6	U27101MH2008PTC188420	ANIK ALUMINIUM PRIVATE LIMITED	Director	21/11/2008	21/11/2008	-	Active	NO
7	U15202KA1999PTC026058	ANIK INFOTECH PRIVATE LIMITED	Director	7/1/2009	7/1/2009	-	Active	NO
8	U55100MH1996PTC096566	NEHA RESORTS AND HOTELS PRIVATE LIMITED	Director	31/01/2009	31/01/2009	-	Active	NO
9	U40102MH2008PTC182933	ANIK PRECIOUS METALS PRIVATE LIMITED	Director	25/11/2009	21/10/2009	-	Active	NO
10	U27310MH2008PTC181326	ANIK FERRO-ALLOYS PRIVATE LIMITED	Additional director	1/10/2010	1/10/2010	31/03/2011	Active	NO

Name :

Mr. Ashok Mehta

Designation :

Director

Address :

505, Hyde Park, 11, Meera Path, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

27.09.1957

Date of Appointment :

27.09.2004

DIN No.:

01605598

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24232MP1987PTC004045	HOD LABORATORIES PRIVATE LIMITED	Director appointed in casual vacancy	28/04/2012	15/07/1994	-	Active	NO
2	U32101MH1965PTC164343	D AND H SECHERON ELECTRODES PRIVATE LIMITED	Director	12/6/2003	12/6/2003	10/7/2012	Active	NO
3	U51109MP1995PLC008908	VELOCITY LIMITED	Director	1/3/2004	1/3/2004	10/6/2009	Active	NO
4	L24118MH1976PLC136836	ANIK INDUSTRIES LIMITED	Director	27/09/2004	27/09/2004	-	Active	NO
5	U67110MP2006PLC018933	MADHYA PRADESH STOCK EXCHANGE LIMITED	Director	20/09/2008	4/9/2006	29/06/2012	Active	NO
6	U51109WB2007PTC112927	LILAC GOODS PRIVATE LIMITED	Director	2/2/2009	2/2/2009	10/7/2012	Active	NO
7	U85100GJ2005PTC046903	INNOVATIVE HEALING SYSTEMS (GUJARAT) PRIVATE LIMITED	Additional director	10/5/2010	10/5/2010	17/12/2010	Active	NO
8	U45203MH2008PTC184216	D and H SECHERON INFRASTRUCTURE PRIVATE LIMITED	Director	13/07/2010	13/07/2010	10/7/2012	Active	NO

Name :

Mr. Kamal Kumar Gupta

Designation :

Director

Address :

B-9, Lake Town, Near Chaitraban, Bibwewadi Market Yard, Pune – 411037, Maharashtra, India

Date of Birth/Age :

18.03.1948

Date of Appointment :

30.09.2011

DIN No.:

03600096

KEY EXECUTIVES

Name :	Mr. Shailesh Kumath
Designation :	Company Secretary
Address :	53, Swami Vivekanand Nagar, Indore – 452016, Madhya Pradesh, India
Date of Birth/Age :	26.09.1977
Date of Appointment :	16.04.2007
PAN No. :	AHUPK9355K
Name :	Mr. Nikhil Shah
Designation :	Business Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
A Ashokan	100
A Devadas	100
A Lalitha	100
A Loganathan	100
A Ramdas	100
A Ravi	100
A Seetha	100
A Shawar	100
A Srinivasulu	100
A Vimala Arockia Dass	100
A B Surendranath	100
A Becom Chand Jain	100
A C Chadha	100
A C Patel	15150
A C Sabita	200
A Chandra Sekhara	100
A G Nagaraj Gowrishankar	100
A G Ramakrishna Manjunath	100
A G Srinivasa Murthy Prasanna Kumar	100
A G Thiraviam	100
A Ganapathi Raman	50
A Gopalakrishna Rokadia	100
A J Gohel	100
A K Kaul	100
A K Ojha	100
A K Saxena	200
A K Thippeswamy	100
A Kamatchi Anmal	100
A Kiran Kumar Kahani	250
A Mayavan	20
A Mohamed Asrafali	20
A Mohan Ram	100
A Murali Krishana	100
A Muthu Lakshmi Kannan	100
A Neelima	900
A P Balakrishna Menon	200
A R Janakiram	1
A R Priyanka	100
A S Lakshmi	100
A S Sarauanakumar	100
A Sandhya Ranjan	100
A Savari Raj	100
A Sunitha	100

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	22.31
Bodies corporate	49.46
Directors or relatives of Directors	15.95
Other top fifty shareholders	2.45
Others	9.76
Total	100.00

BUSINESS DETAILS

Line of Business :

Supplier and Manufacturer of Dairy Products and Pure Ghee

Products :

Product Description	ITC Code
Milk	401
Ghee	4059020
Milk Powder	4021010/04022910

PRODUCTION STATUS (31.03.2011)

Particulars	Unit	Installed Capacity
Milk Processing	KLs	291000
Wind Power Generation	MWH	1.85

The licensed capacity is not given as licensing has been abolished

Particulars	Unit	Actual Production
Ghee	MTs	5,271.69
Pasteurized Milk	KLs	46,671.38
Soya Iso Prolet	MTs	8.63
Milk Powder	MTs	6,145.57
Wind Power Generation	KWH	27,75,416.00

(i) Milk powder excludes Nil MT (Prev. Yr. 20.746 MT) production done on job work for others.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Dena Bank Consortium, IFB Branch, 17, Horniman Circle,, Mumbai - 400023, Maharashtra, India

· IDBI Bank Limited, Upper Ground Floor, Captain C.S. Nayudu Arcade, 10/2, Old Palasia, Indore - 452001, Madhya Pradesh, India

· Punjab National Bank

· Central Bank of India

· Oriental Bank of Commerce

· Bank of India

· State Bank of Travancore

· Allahabad Bank, Indore Branch, A-1, Embassy Tower, new Palasa, Indore – 42001, Madhya Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Term Loans from Bank
AXIS Bank Limited	0.000	5.656
Dena Bank	65.184	102.973
HDFC Bank Limited -I	1.854	3.708
HDFC Bank Limited -II	90.059	0.000
Punjab National Bank Limited	89.071	110.869
IDBI Bank Limited	172.368	225.000
Short Term Corporate Loan from Bank
Punjab National Bank Limited	0.000	252.419
Working Capital Loans from Consortium Banks	1111.335	917.218
Other Loans (vehicles)	4.281	8.103
Total	1534.152	1625.946
Notes:- (I) Term Loan:- a) 1) Term Loan from Axis Bank is secured by hypothecation of movable plant and machinery, furniture, fixtures, both present and future installed at the Wind Power Projects of the Company situated at Jaisalmer (Rajasthan) and Dewas (Madhya Pradesh), equitable mortgage of land and structures therein situated at Nagada Hills, Dewas and personal guarantee of two directors. 2) Installments of term loan due within next one year Rs. Nil (Prev. Year Rs. 5.600 Millions). b) 1) Term loan from Dena Bank is secured by hypothecation of specific equipments/ machineries purchased after 31.03.06 at Dewas, Etah plants and entire plant and machineries at Bhopal unit of the company, equitable mortgage over land and buildings situated at Govindpura Industrial area, Bhopal and personal guarantee of two directors of the Company. 2) Installments of term loan due within next one year Rs.37.500 Millions (Previous Year Rs. 37.500 Millions) c) 1) Term Loan from HDFC Bank Limited-I is secured by exclusive charge by way of hypothecation of specific equipment and personal guarantee of one director of the company. 2) Installments of term loan due within next one year Rs.1.853 Millions (Previous Year Rs.1.827 Millions). d) 1) Term Loan from HDFC Bank Limited.-II is secured by equitable mortgage of the property situated at Bhourtal Extension, Swami Dayanand Saraswati Ward, Jabalpur (Madhya Pradesh). 2) Installments of term loan due within next one year Rs.18.000 Millions (Previous Year Rs. Nil ) e) 1) Term Loan from Punjab National Bank is secured by exclusive first charge on all movable / immovable fixed assets purchased out of term loan and personal guarantee of two directors of the company. 2) Installments of term loan due within next one year Rs. 22.000 Millions (Previous Year Rs. 22.000 Millions) f) 1) Term Loan from IDBI Bank is secured by equitable mortgage of plot at Kolkata and personal guarantee of two directors of the Company. 2) Installments of term loan due within next one year Rs. 52632 Millions (Previous Year Rs .52.632 Millions) (II) Short Term Corporate Loan:- a) Short Term Corporate Loan from Punjab National Bank is secured by First pari passu charge with other Working Capital Consortium Members on all the current assets of the Company and personal guarantee of two directors of the Company. b) Entire Loan repayable in next 12 months Rs. Nil (Previous Year Rs. 252.419 Millions) (III) Working Capital Loans from Consortium Banks are secured by : a) Hypothecation of stocks of raw materials, finished goods, stores and spares, stock in process, packing materials and book debts, and all other movables, both present and future, lying or stored in factory premises, at Village Bilawali, Dist. Dewas and Kasganj Road, Etah (Uttar Pradesh), Govindpura , Bhopal units or where ever else, the same may be held or kept. b) Further secured by Equitable Mortgage created or to be modified over the Land situated at village Bilawali Dist. Dewas (Madhya Pradesh.) and Kasganj Road, Etah (Uttar Pradesh) with all buildings, super structures, plant and machinery installed thereon except specific equipment, Plant and Machinery charged to Dena Bank for securing Term Loan. c) Personal guarantee by two Directors. (IV) Vehicle Loans a) Others loans (vehicles) are secured by charge on specific asset purchased. b) Installments of others loans due within next 12 months Rs.3.588 Millions (Previous Year Rs 3.822 Millions) c) Personal guarantee by two Directors. (Rs. In Millions)
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Short Term Loans : From Banks	1028.257	1928.356
Interoperate Deposits	20.000	25.000
Total	1048.257	1953.356

Banking Relations :
Auditors :
Name :	Ashok Khasgiwala and Company Chartered Accountants
Address :	317 Chetak Centre "Annex", R.N.T Marg, Indore – 452001, Madhya Pradesh, India
PAN.:	AFAPB2465F
Associate/ Joint Venture :	Mahakosh Property Developers (a firm where company is a partner)
Other parties where Key Management Personnel and/or their relatives have significant influence:	· Shahra Securities Private Limited · Mahadeo Shahra Sukrat Trust

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
45000000	Equity Shares	Rs.10/- each	Rs.450.000 Millions
500000	Preference Shares	Rs.100/- each	Rs.50.000 Millions
	Total		Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
27753486	Equity Shares	Rs.10/- each	Rs.277.535 Millions

Of the above Equity Shares 430008 Equity Shares are alloted as Fully Paid Up Bonus Shares by Capitalisation of Profits

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		277.535	277.535	277.535
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1880.754	1779.833	1688.646
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2158.289	2057.368	1966.181
LOAN FUNDS
1] Secured Loans		1534.152	1625.946	1140.788
2] Unsecured Loans		1048.257	1953.356	240.863
TOTAL BORROWING		2582.409	3579.302	1381.651
DEFERRED TAX LIABILITIES		92.777	79.133	74.066
TOTAL		4833.475	5715.803	3421.898
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1198.271	965.850	958.252
Capital work-in-progress		17.965	226.497	39.696
INVESTMENT		143.246	165.883	237.871
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1580.693	1311.043	1109.580
	Sundry Debtors	3124.783	2967.995	2219.497
	Cash & Bank Balances	1194.463	2284.877	641.422
	Other Current Assets	187.753	179.220	88.701
	Loans & Advances	837.210	837.195	769.128
Total Current Assets		6924.902	7580.330	4828.328
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3367.236	3097.208	2531.540
	Other Current Liabilities	74.122	95.691	83.914
	Provisions	9.551	29.858	26.795
Total Current Liabilities		3450.909	3222.757	2642.249
Net Current Assets		3473.993	4357.573	2186.079
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4833.475	5715.803	3421.898

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	12755.637	12168.135	10104.963
		Other Income	32.664	64.624	104.812
		TOTAL (A)	12788.301	12232.759	10209.775
Less	EXPENSES
		Materials	12025.220	11500.740	9429.655
		Expenses	795.548	740.469	468.456
		Increase /(Decrease) in Stocks	(249.913)	(199.268)	131.687
		TOTAL (B)	12570.855	12041.941	10029.798
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		217.446	190.818	179.977
Less	FINANCIAL EXPENSES (D)		5.086	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		212.360	190.818	179.977
Less/ Add	DEPRECIATION/ AMORTISATION (F)		49.577	38.783	35.449
	PROFIT BEFORE TAX (E-F) (G)		162.783	152.035	144.528
Less	TAX (H)		61.863	41.429	36.648
	PROFIT AFTER TAX (G-H) (I)		100.920	110.606	107.881
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		968.863	927.675	841.973
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	50.000	2.697
		Dividend	0.000	16.652	16.652
		Tax on Dividend	0.000	2.766	2.830
	BALANCE CARRIED TO THE B/S		1069.783	968.863	927.675
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods on FOB basis	172.398	788.087	66.885
		Merchandise trade on FOB basis	283.281	145.868	198.747
	TOTAL EARNINGS		455.679	933.955	265.632
	IMPORTS
		Purchase of Raw Materials & Finished Goods	4119.151	4693.814	3664.802
		Merchandise Trade	275.454	142.767	152.500
	TOTAL IMPORTS		4394.605	4836.581	3817.302
	Earnings Per Share (Rs.)		3.64	3.99	3.89

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.79	0.90	1.06
Net Profit Margin (PBT/Sales)	(%)	1.28	1.25	1.43
Return on Total Assets (PBT/Total Assets}	(%)	2.00	1.78	2.50
Return on Investment (ROI) (PBT/Networth)		0.08	0.07	0.07
Debt Equity Ratio (Total Liability/Networth)		2.80	3.31	2.05
Current Ratio (Current Asset/Current Liability)		2.01	2.35	1.83

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	(Yes)
2]	Locality of the firm	(Yes)
3]	Constitutions of the firm	(Yes)
4]	Premises details	(No)
5]	Type of Business	(Yes)
6]	Line of Business	(Yes)
7]	Promoter's background	(Yes)
8]	No. of employees	(No)
9]	Name of person contacted	(Yes)
10]	Designation of contact person	(Yes)
11]	Turnover of firm for last three years	(Yes)
12]	Profitability for last three years	(Yes)
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	(No)
15]	Capital in the business	(Yes)
16]	Details of sister concerns	(Yes)
17]	Major suppliers	(No)
18]	Major customers	(No)
19]	Payments terms	(No)
20]	Export / Import details (if applicable)	(No)
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	(Yes)
24]	Banking facility details	(Yes)
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	(Yes)
28]	Incorporation details, if applicable	(Yes)
29]	Last accounts filed at ROC	(Yes)
30]	Major Shareholders, if available	(Yes)
31]	Date of Birth of Proprietor/Partner/Director, if available	(Yes)
32]	PAN of Proprietor/Partner/Director, if available	(No)
33]	Voter ID No of Proprietor/Partner/Director, if available	(No)
34]	External Agency Rating, if available	(Yes)

OPERATIONS

The overall performance of the Company showed significant improvement as compared to the previous year. The Company achieved turnover of Rs.12788.301 Millions with around 4.5% growth as compared to previous year. Operating profit has increased by 11.27% at Rs.212.360 Millions but Net Profit decreased by 8.76% at Rs. 100.920 Millions during the year.

Management of the Company under the direction of the Board of Directors is continued in achieving the targets of cutting down in the cost of operations and getting efficiency in this area by using better alternated resources/means.

BUSINESS EXPANSION AND DIVERSIFICATION

Mining Business

On the front of recently diversified business of mining, the year under review has remained very productive as apart from getting final approval of Ministry of Mines, Government of India for earlier recommended mining concessions at Miragpur (Madhya Pradesh) and Mahadulla (Maharashtra), the Company also got approval of one more Manganese mine at Nandia Loharpura (Madhya Pradesh). Functioning from the aforesaid allotted Manganese mines can be started only after clearing various procedural formalities and grant of relevant permissions and approvals. However, they expect to complete all the formalities within a span of next one year from the date hereof. Further the Company is also very keen to set up mineral based industry in Madhya Pradesh to process minerals to be explored from its own mines. Land has been identified at two locations and project work shall start in near future.

Better profitability and turnover is expected from these activities in future.

Real Estate Business

The integrated township project 'Active Acres' at Kolkata launched in 2008 by Mahakosh Property Developers, a partnership wherein the company is a major partner is continuously getting good response from all segments of society being offered at very competitive rates at the best location. Overwhelming response of the project is a good sign of the Company's reputation and sustainability which will result in ample profits in the years to come. Further the Company has also been allotted land by the Maharashtra Industrial Development Corporation at Butibori Industrial Area in Nagpur and also acquired land near to Kolkata at Kolkata Leather Complex, KITP, Gangapur, West Bengal where also the Company is keen to set up an IT project under one of its sole proprietary concern M/s. Ruchi Infosystems.

New Dairy Plant

Anew Milk Processing plant with capacity to produce 30 Tons Milk Powder per day by processing 4 Lacs liters per day has been commissioned successfully at Dewas (Madhya Pradesh) with total investment of around Rs. 220.000 Millions. The commercial production from the said plant is being taken successfully. This plant provides great opportunities of exports available in Milk Powder business to the Company resulting in good profits in the years to come.

In addition to that the Company is enthusiastically eying the southern and the eastern region of the India for setting up few more dairy plants to cover these regions where they are sure that the products of the Company shall be taken hand to hand.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

INDUSTRYSTRUCTURE AND DEVELOPMENTS

India, one of the fast growing consumer markets in the world with its huge population and powerful purchasing power, gradually appearing as rising star in the world economy. In 2010-11 the Indian Economy has registered a Growth Rate of 6.25% driven on strong domestic demand despite the industrial sluggishness throughout the world.

The company is primarily engaged in the business of processing of milk and food processing, trading of agri-commodities and coal and renewable energy.

India, the largest Milk Producing country in the World is also the fastest growing market for milk and milk products. The market size in value term for milk and milk product including the organized and un-organized sector is estimated to be more than USD 50 Billion and growing at nearly 7.5% annually. India where consumption of dairy products is rapidly increasing having great business opportunities in dairy sector.

The Indian Wind energy Sector has an installed capacity of 14,158 MW (as on March 31, 2011). In term of wind power installed capacity, India is ranked 5th in the World. Today India is major player in the global wind energy market. However the potential is far from exhausted.

OUTLOOK

With increasing demand of dairy products, the Company has successfully set up a milk processing unit at Bhopal and commined at existing Dewas Plant, whereby total milk processing capacity reached to 10 lacs litres milk per day. During the year under review the company has shown its remarkable presence in newly entered states of Central India and Western India and products of the Company are welcomed in these market. Endeavors are continuing to enter into remaining parts of Central and Western and Southern parts of India also. They have started concentrating more on hygienic consumer packaged products instead of bulk and hopeful that this will further strengthen position in the market.

Further, the Wind Power Projects of the Company are generating electricity satisfactorily. Electricity produced in Rajasthan Plant is being sold to Rajasthan Electricity Board (RSEB) while in Madhya Pradesh they have captive consumption in their lant and remaining electricity is sold to Madhya Pradesh Electricity Board. They see ecological power generation as the sunrise industry of tomorrow and have positioned ourselves to save the nature and to reap the reward for their stakeholders.

With their strong focus on core business activities and their competitive position, better performance is expected in the years to come

CONTINGENT LIABILITIES NOT PROVIDED FOR

Rs. In Millions

Particulars	31.03.2011	31.3.2010
Outstanding Bank Guarantees	43.819	19.997
Estimated amount of contracts remaining to be executed on capital account (Net of advances)	0.548	4.934
Income Tax / Sales tax/ Excise Duty demand disputed in appeal [Net of Advance paid Rs.27.486 Millions (Previous year Rs. 26511 Millions ) against disputed demand]	39.493	37.612
Estimated liability of Customs Duty, which may arise if export obligation/ commitment is not fulfilled	11.794	13.322
Letter of Credit opened on behalf of others	55.200	0.000
Guarantee issued by bank for and on behalf of third party against, lien on fixed deposit	2.147	16.195
Corporate Guarantee given on behalf of others	600.000	0.000
Claims against the company not acknowledged as debt	4.240	0.801
Bills Discounting with Banks	359.743	84.799

UNAUDITED (PROVISIONAL) FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST MARCH, 2012

Rs. In Millions

			Quarter Ended (3 months)			Year Ended
		PARTICULARS	31.03.2012 Unaudited	31.12.2011 Unaudited		31.03.2012 Unaudited
1		Income from operations
		(a) Net Sales / Income From Operations (Net of excise Duty)	5975.814	3472.852		16075.686
		(b) Other Operating Income	67.909	12.434		76.388
		Total Income from operations (net)	6043.723	3485.286		16152.074
2		Expenses
		a) Cost of materials consumed	2060.599	1164.168		5482.562
		b) Purchase of stock in trade	3808.629	2175.173		9554.497
		c) Changes in inventories of finished goods, work in progress & stock in trade	(125.956)	(106.080)		147.961
		d) Employee benefit expense	28.859	31.520		109.611
		e) Depriciation & Amortisation Expense	14.170	14.222		56.409
		f) Other Expenditure	224.278	201.390		6,67.519
		Total expenses (a) to (f)	6010.579	3480.393		16018.559
3		Profit/ (Loss) from Operations before other Income, Finance Costs and Exceptional Items(1-2)	33.144	4.893		133.515
4		Other Income	80.000	22.593		80.000
5		Profit/(Loss) from ordinary activities before finance costs and exceptional items (3-4)	113.144	27.486		213.515
6		Finance Costs (Interest)	20.335	15.350		55.305
7		Profit / (Loss) from ordinary activities after finance costs but before exceptional items (5-6)	92.809	12.136		158.210
8		Exceptional items	0.000	0.000		0.000
9		Profit(+)/Loss(-) from Ordinary Activities Before Tax (7+8)	92.809	12.136		158.210
10		Tax Expense
		Current Tax	6.000	2.500		22.500
		Deferred Tax	2.000	1.000		6.500
11		Net Profit (+)/ Loss(-) from Ordinary Activities after tax (9-10)	84.809	8.636		129.210
12		Extraordinary Item (net of tax expense Rs. Millions)	0.000	0.000		0.000
13		Net Profit/ (Loss) for the period (11-12)	84.809	8.636		129.210
14		Share of profit/(loss) of associates	NA	NA		NA
15		Minority Interest*	NA	NA		NA
16 17		Net profit/(loss) after taxes, minority interest and share of profit/(loss) of associates (13+14+15)	84.809	8.636		129.210
		Paid up equity share cpital (FV of shares shall be indicated)	277.535	277.535		277.535
18		Reserves excluding revaluation Reserves as per balance sheet of previous accounting year
19.i.		Earnings per share (before extraordinary items) of Rs. 10/- each (not
		(a) Basic	3.05	0.31		4.65
		(b)Diluted	3.05	0.31		4.65
19.ii.		Earnings per share (after extraordinary items) of Rs. 10/- each (not annualised)
		(a) Basic	3.05	0.31		4.65
		(b) Diluted	3.05	0.31		4.65
A	PARTICULARS OF SHAREHOLDING
1	Public Shareholding
	i) Number of shares		13823650		13823650		13823650
	ii) Percentage of shareholding		49.81%		49.81%`		49.81%
2	Promoters and promoter group shareholding
	a) Pledged/Encumbered
	i) Number of shares		0.00		0.00		0.00
	ii) Percentage of shares (as a % of total shareholding of the promoter and promoter group)		0.00		0.00		0.00
	iii) Percentage of shares (as a % of the total share capital of the Company)		0.00		0.00		0.00
	b) Non-encumbered
	i) Number of shares		13929836		13929836		13929836
	ii) Percentage of shares (as a % of total shareholding of the promoter and promoter group)		100.00%		100.00%		100.00%
	iii) Percentage of shares (as a % of the total share capital of the Company)		50.19%		50.19%		50.19%
	Particulars		3 months ended (31.03.2012)
B	INVESTOR COMPALIANTS
	Pending at the beginning of the quarter		NIL
	Received during the quarter		3.00
	Disposed of during the quarter		3.00
	Remaining unresolved at the end of the quarter		NIL

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED AS PER CLAUSE 41 OF THE LISTING AGREEMENT (FOR THE QUARTER ENDED 31ST MARCH, 2012)

Rs. in Millions

		Quarter Ended		Year Ended
S. No.	PARTICULARS	31.03.2012 Unaudited	31.12.2011 Unaudited	31.03.2012 Unaudited
1	Segment Revenue (Net Sales/ Income)
a.	Dairy Products	2489.650	1390.741	6261.158
b.	Wind Power	1.267	0.871	7.484
c.	Trading Others	3525.732	2081.241	9786.044
d.	Unallocable amount	107.074	35.026	177.388
	Net Sales / Income	6123.723	3507.879	16232.074
2	Profit before Tax and Interest
a.	Dairy Products	184.637	42.824	285.893
b.	Wind Power	0.559	1.099	5.083
c.	Trading others	15.116	81.615	501.41
d.	Unallocable amount	(87.168)	(98.052)	(127.602)
	Total	113.144	27.486	213.515
	Less : -
i)	Interest	20.335	15.350	55.305
ii)	Prior Period Adjustment	0.000	0.000	0.000
ii)	Other unallocable expenditure net of unallocated income	0.000	0.000	0.000
	Total Profit before Tax	92.809	12.136	158.210
3	Capital Employed
a.	Dairy Products	1830.860	1698.745	1830.860
b.	Wind Power	54.322	61.832	54.322
c.	Trading Others	433.567	1404.521	433.567
	Total Capital Employed in Segments	2318.749	3165.098	2318.749
	Add :
	Unallocable Corporate Assets Less	3372.541	2015.252	3372.541
	Total	5691.290	5180.350	5691.290

Notes:

1. The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at their adjourned meeting held on 18th May 2012 and have undergone limited review by the Statutory Auditors.

2. Previous period/year figures have been regrouped/recasted whereever necessary.

3. Finance cost (Interest) Expenses of Rs.55.305 Millions for the year ended 31st March 2012 is net of interest income of Rs.337.602 Millions.

4. Other Income includes Rs. 80.000 Millions for surrender of 4% Share of Profit from 25% to 21% in Partnership Firm .

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	L24118MH1976PLC136836
Name of the company	ANIK INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	610, Tulsiani Chambers, Nariman Point, Mumbai - 400 021. Maharashtra India shailesh_kumath@anikgroup.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10092656
Type of charge	· Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	IDBI Bank Limited, Upper Ground Floor, Captain C.S. Nayudu Arcade, 10/2, Old Palasia, Indore - 452001, Madhya Pradesh, India s.ashutosh@idbi.co.in
Nature of instrument creating charge	1. Sanction Letter dated March 23, 2011. 2. Deed of Hypothecation dated 24th March 2011. 3. Facility Agreement dated 24th March 2011.
Date of instrument Creating the charge	24.03.2011
Amount secured by the charge	Rs. 1800.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC/EPC:BBR+2.00% variable ; WCDL/LCBD: To be decided at time of drawdown; WHR/Dairy financing/discounting of farmers/aggregators invoices : BBR + 1% ; LC/BC/BG: 0.90% p.a. Terms of Repayment CC:1yr ; WCDL/WHR: 90days ; EPC: 270days ; LC: Up to 180days ; BC:1yr Repayable on due dates. LCBD: 180 days tenor of individual usance bills. Margin CC/WCDL: As per consortium EPC: 10% LC/LCBD: Nil Extent and Operation of the charge First Pari passu charge by way of Hypothecation over current assets of the Company with consortium members for CC/WCDL/ EPC/ WHR/Dairy Fin./LC/BC/BG within consortium limit. Subsequent and Subservient charge on current assets and moveable fixed assets for outside consortium limit. (More specifically mentioned in the attached Deed of Hypothecation and Facility agreement executed on 24th March 2011). Others Personal guarantee of Mr. Suresh Chandra Shahra and Mr. Manish Shahra, Directors of the Company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Entire Stocks of raw materials, semi-finished and finished goods, consumable stores and spares and such other movables including book debts, bills and whole of the moveable properties of the Company. Moveable properties of the Company including its moveable plant and machinery, machinery spares, tools and accessories and other moveables both present and future (save and except book debts). (More specifically mentioned in the attached Deed of Hypothecation and Facility agreement executed on 24th March 2011).
Date of instrument modifying the charge	12.12.2009
Particulars of the present modification	Working Capital Facilities increased from Rs.1300.000 Millions to Rs. Rs.1800.000 Millions.

FIXED ASSETS

· Land

· Buildings

· Plant and Machinery

· Furniture and Fixtures

· Laboratory Equipments

· Vehicles

AS PER WEBSITE

PROFILE

Subject, having its registered office at Mumbai and Corporate office at Indore, India, is a more than four decade old company previously known as Madhya Pradesh Glychem Industries Limited and later on changed its name to subject with a view to link it with its renowned brand “ANIK” in the field of dairy industry.

ANIK has already made a benchmark in its dairy products all over India and in order to keep ahead and make its presence felt globally, Subject has diversified and has widened its focus to, Mining of Minerals, Realty, International Coal Trading and mining, Agri Commodities, Power Generation, Integrated Ferro- Alloys and Mineral based Industries.

The Company insists on honesty, integrity and fairness in all aspects of its business which has earned it the trust and respect of every strata of society that it has come in contact with.

MANAGEMENT TEAM

MR. KAILASH CHANDRA SHAHRA:-

Mr. Kailash Chandra Shahra is a B.Com, L.L.B. possesses more than 50 years of rich experience in the industry. Apart from Chairmanship of the Company, Mr. Kailash Chandra Shahra also leads the Ruchi Group of Companies. Mr. Kailash Chandra Shahra has been awarded ‘Udyog Ratna’ award by the Chief Minister of Madhya Pradesh for his contribution to the economic development of the state. 

MR. MANISH SHAHRA:- 

Mr. Manish Shahra, 38 years, holds a degree in Industrial Production Engineering and MBA(F). After completing his studies in the Year 1993 has joined the business of manufacturing of edible oils. Mr. Manish Shahra through his efforts and business acumen has applied his entrepreneur skills for taking the Anik group to new heights and providing new dimensions to the parental business of agri-commodities and edible oils. He has more than 16 years of experience in various fields of Business, Industry, Import / Export, Finance etc. He is currently designated as Jt. Managing Director of subject. Through his business innovations he has always tried and succeeded in new ventures besides upgrading the current line of action on an ongoing business. He has not only successfully handled existing line of activities but also heading diversification into Dairy, Mining, Housing Development, Power Sector, Integrated Ferro-Alloys and Agri-Commodity trading sectors. He is also actively participating in activities of various Chamber of Commerce, Trade Associations and other Business Associations. His vision for the future is “GROWTH THROUGH SUSTAINANBLE DEVELOPMENT” and to become one of contributors who have put in their efforts for translating India into a DEVELOPED COUNTRY from the current status of a Developing Country. 

MR. SURESH CHANDRA SHAHRA:- 

Born on 29th June 1944, in the illustrious family of Mr. Mahadeo ji Shahra in Badnagar (Madhya Pradesh.), Mr. Suresh ji Shahra imbibed the fundamentals of business from his father’s traditional business of commission agents in edible oil trade. He was brought up under the able guidance of his father and elder brother Mr. Kailash ji Shahra. Since the beginning he distinguished himself in academics and later he graduated in Mechanical Engineering from the most acclaimed engineering institute SGSITS, Indore in 1967-68. Immediately he joined his father and his brother in running and expanding his family business.

He pioneered his family’s foray into the Soya business. Displaying remarkable insight of the emerging trends complemented by extraordinary business acumen, way back in 1973-74, he identified Soya oil as a fast growing sector and initiated diversification into this sector. The early venture in this field established them as the leaders and pioneers in the industry and it paid off with the result that Ruchi Soya became the premier producers of Soya products in the country. 

It is a just tribute to his considerable entrepreneurial skills that he brought a vision to fruition and added a new dimension of growth to the family enterprise. Despite an enviable record of achievements and an indomitable spirit, Suresh ji, is a man who believes in leading a simple life with deep rooted spiritual principles. He is a committed philanthropist and has a generous disposition towards humanity. He has imbibed Hindu Philosophy and adheres to the path of righteousness laid down in the religion.

PRESS RELEASE

ANIK IND'S 5-BLN-RUPEE FERRO ALLOY, POWER UNIT COMPLETION IN 2.5 YR

NewsWire18, Thursday, Feb 11.

--To set up ferro alloy, power unit in Madhya Pradesh

--Madhya Pradesh unit phase-I spend 1.5 bln rupees FY11

--Milk output capacity hike spend FY10 300 mln rupees

MUMBAI - Anik Industries Limited is setting up an integrated ferro alloy and power unit at Jhabua in Madhya Pradesh at a total investment of 5 bln rupees, and it is likely to be completed in two-and-a-half-years, company officials said at a press meet today.  

The company will execute the project, which marks its foray into ferro alloy-manufacturing, in two phases. The Indore-headquartered company has diversified business interests, primarily in dairy products and mining of minerals.    

In the first phase, the company would invest 1.5 bln rupees to set up 20 MW of power generation capacity and 36,000 tn per year of ferro alloy capacity by the end of 2010-11 (Apr-Mar), said Executive Director Deepak Goyal. "In the first phase, our equity contribution would be 40-45 crore (400-450 mln rupees), which we have raised through warrants issue to promoter group. We have almost tied up the debt and the project would be financially closed by March," Goyal said.

In the second phase, the company would set up 70 MW of power generation capacity and a manufacturing capacity of 100,000 tn per year for ferro alloy and a 500,000 tn per year beneficiation unit.     Of the total 90 MW of power generation capacity being set up in Madhya Pradesh, the company would use 70% for captive use, while the balance would be sold through power supply pacts.     "Approximately 65% of the required manganese ore for the ferro alloy unit shall be sourced from the captive mines," Goyal said. The company has concession for mining manganese ore in Madhya Pradesh and Maharashtra, he said.

MILK PROCESSING

Anik Industries is planning to expand its milk processing capacity to 1 mln ltr per day by March 2011 from 600,000 ltr per day now.     "Our expenditure for expansion of milk output capacity is 30 crore (300 mln) rupees in the current financial year. In the next two months, our processing capacity is expected to increase to 800,000 tn," Goyal said.

He also said the company is planning to launch "a number of new dairy products" in the next six months. However, he did not give any specifications. Anik Industries sells milk and a variety of milk and dairy products under the brand name of Anik and Sourabh. "Currently, our presence is mainly in north and east India. We are planning to expand to western and southern India as well. We are planning to build a milk plant in south India on the Karnataka-Tamil Nadu border, which will cater to the preferences of the local people there," Goyal said.

On product pricing policy, he said, the company will hike prices of its products in tandem with the rise in input cost.

Today, shares of Anik Industries ended flat at 62.25 rupees on the National Stock Exchange, from the previous close.

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 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.55.14
UK Pound	1	Rs.86.00
Euro	1	Rs.68.31

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

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.