MIRA INFORM REPORT

Report Date :

01.12.2012

IDENTIFICATION DETAILS

Name :	AGRI GOLD FOODS AND FARM PRODUCTS LIMITED
Formerly Known As :	AGRI GOLD FARMS LIMITED
Registered Office :	D. No.40-1-21/3, 1^st Floor, Surya Towers, M. G. Road, Vijayawada - 520010, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.11.1995
Com. Reg. No.:	01-022211
Capital Investment / Paid-up Capital :	Rs.37.231 Millions
CIN No.: [Company Identification No.]	U01120AP1995PLC022211
TAN No.: [Tax Deduction & Collection Account No.]	HYDA03225F
PAN No.: [Permanent Account No.]	AABCA8733E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Foods, Seeds, Milk, Farm Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 7400000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions.

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	BB- (Long Term Bank Facilities)
Rating Explanation	Moderate risk of default
Date	April 2012

Rating Agency Name	CARE
Rating	A4 (Short Term Bank Facilities)
Rating Explanation	Minimal degree of safety it carry very high credit risk.
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.

LOCATIONS

Registered Office :	D. No.40-1-21/3, 1^st Floor, Surya Towers, M. G. Road, Vijayawada - 520010, Andhra Pradesh, India
Tel. No.:	91-866-2473711/ 2486013/ 2481754
Fax No.:	91-866-2477348
E-Mail :	gmfaagrigold@gmail.com agrifoods@yahoo.co.in
Website :	www.agrigoldindia.com
Factory :	No.77-61-1A, Agri Gold Plaza, Prakash Nagar, Payakapurma, Vijayawada - 520015, Andhra Pradesh, India
Tel. No.:	91-866-3202686
Fax No.:	91-866-2401426
Pickles Unit :	No. 77-87-1-4-1B, Prasanthi Nagar, Payakapurma, Vijayawada - 520015, Andhra Pradesh, India
Tel. No.:	91-866-3209902

DIRECTORS

As on: 30.09.2012

Name :

Mr. Avva Venkata Rama Rao

Designation :

Managing Director

Address :

23-35-39, Adavi Seshagiri Rao Street, Lakshmi Nagar, Satyanarayanapuram, Vijayawada - 520011, Andhra Pradesh, India

Date of Birth/Age :

10.01.1959

Date of Appointment :

17.12.2010

DIN No.:

00099695

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	U01120AP1995PLC022211	AGRI GOLD FOODS AND FARM PRODUCTS LIMITED	Managing director	17/12/2010	09/11/1995	-	Active	NO
2	U70102AP1996PTC025602	AGRI GOLD INFRADEVELOPERS PRIVATE LIMITED	Director	01/11/1996	01/11/1996	-	Active	NO
3	U51909AP1996PLC025600	AGRI GOLD EXIMS LIMITED	Director	01/11/1996	01/11/1996	-	Active	NO
4	U45200AP1997PTC027809	AGRI GOLD CONSTRUCTIONS PRIVATE LIMITED	Director	22/08/1997	22/08/1997	-	Active	NO
5	U51219AP1997PLC027851	AGRI GOLD PROJECTS LIMITED	Director	28/08/1997	28/08/1997	-	Active	NO
6	U24231TN1988PTC016307	CLINICHEM PHARMACEUTICALS PRIVATE LIMITED	Director	06/08/2001	06/08/2001	-	Active	NO
7	U45309AP2001PTC038237	AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED	Director	19/03/2002	19/03/2002	-	Active	NO
8	U25111TN2003PLC051447	CHANDI TECHNOLOGIES AND INDUSTRIES LIMITED	Director	27/08/2003	27/08/2003	-	Active	NO
9	U55101KA2004PTC035045	DREAM LAND VENTURES PRIVATE LIMITED	Director	17/11/2004	17/11/2004	-	Active	NO
10	U66010AP2006PTC049389	AVISHKARA LIFE INSURANCE PRIVATE LIMITED	Managing director	03/03/2006	03/03/2006	03/01/2011	Active	NO
11	U74999AP2007PTC053696	RETAIL SMART GLOBAL SHOPPING PRIVATE LIMITED	Director	20/04/2007	20/04/2007	15/01/2010	Active	NO
12	U32109KA2007PTC042635	AVVAS INFOTECH PRIVATE LIMITED	Director	27/04/2007	27/04/2007	10/07/2007	Active	NO
13	U01403AP2007PTC054398	GREENVALLEY AGRO PROJECTS (INDIA) PRIVATE LIMITED	Director	12/06/2007	12/06/2007	03/01/2011	Active	NO
14	U01119AP2007PTC055195	GOLD PRIDE TIMBER AND AGRO ESTATES PRIVATE LIMITED	Director	21/08/2007	21/08/2007	-	Active	NO
15	U02005AP2007PTC055192	AMRUTHA AGRO ESTATES PRIVATE LIMITED	Director	21/08/2007	21/08/2007	03/01/2011	Active	NO
16	U02001AP2007PTC055218	DEVI PRABHA TIMBER ESTATES PRIVATE LIMITED	Director	22/08/2007	22/08/2007	-	Active	NO
17	U01119AP2007PTC055518	PENDYALA TIMBER ESTATES PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
18	U40101KA2004PTC035205	NORTH KARNATAKA POWERGEN PRIVATE LIMITED	Whole-time director	25/09/2008	08/01/2008	-	Active	NO
19	U01119AP2007PTC055756	DHUPADU TIMBER ESTATES PRIVATE LIMITED	Director	30/09/2008	25/03/2008	-	Active	NO
20	U02005AP2007PTC055399	KAVALI TIMBER ESTATES PRIVATE LIMITED	Director	25/08/2008	25/03/2008	-	Active	NO
21	U01119AP2007PTC055199	VARSHA TIMBER ESTATES PRIVATE LIMITED	Director	25/08/2008	25/03/2008	03/01/2011	Active	NO
22	U02005AP2007PTC055191	TIMBER VALLEY AGROS PRIVATE LIMITED	Director	25/08/2008	25/03/2008	03/01/2011	Active	NO
23	U45200AP2008PTC058319	TANZIL REAL ESTATES PRIVATE LIMITED	Director	25/03/2008	25/03/2008	03/01/2011	Active	NO
24	U70109AP2008PTC058345	TEJINI REAL ESTATES PRIVATE LIMITED	Director	26/03/2008	26/03/2008	-	Active	NO
25	U70102AP2008PTC058113	VARAAHI REALTERS PRIVATE LIMITED	Director	07/08/2009	27/03/2008	-	Active	NO
26	U02005AP2007PTC055752	SIVANI TIMBER ESTATES PRIVATE LIMITED	Director	30/09/2008	27/03/2008	-	Active	NO
27	U45200AP2008PTC058382	ARKAMITRA REALTERS PRIVATE LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
28	U01119AP2007PTC055767	ALLURU TIMBER ESTATES PRIVATE LIMITED	Director	30/09/2008	27/03/2008	-	Active	NO
29	U74999AP2008PTC058160	AVIJIT REALTERS PRIVATE LIMITED	Director	07/08/2009	29/03/2008	-	Active	NO
30	U45209AP2008PTC058384	ANIIJ REALTERS PRIVATE LIMITED	Director	13/08/2009	29/03/2008	-	Active	NO
31	U24231TN2008PTC067409	MIRAGEL CHEM PRODUCTS PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
32	U45400AP2008PTC060404	AVVAS CORPORATE REAL ESTATES PRIVATE LIMITED	Director	01/08/2008	01/08/2008	-	Active	NO
33	U45400AP2008PTC060483	PARESHA REAL ESTATES PRIVATE LIMITED	Director	06/08/2008	06/08/2008	-	Active	NO
34	U13200AP2008PTC061741	ABHI MINERALS PRIVATE LIMITED	Director	07/11/2008	07/11/2008	-	Active	NO
35	U24117TN2008PTC070205	SAFETY KEMICALS INDIA PRIVATE LIMITED	Director	17/12/2008	17/12/2008	-	Active	NO
36	U45400AP2008PTC060482	WELLDO HOMES INDIA PRIVATE LIMITED	Director	10/08/2009	26/03/2009	-	Active	NO
37	U92190TN2008PTC070156	ATLANTA ROCK GARDENS PRIVATE LIMITED	Director	11/08/2009	26/03/2009	-	Active	NO
38	U70102AP2008PTC060515	GREEN MANGOS REAL ESTATES INDIA PRIVATE LIMITED	Director	10/08/2009	26/03/2009	03/01/2011	Active	NO
39	U45201AP2008PTC060586	BAMBOO BANIAN RESORTS PRIVATE LIMITED	Director	08/08/2009	26/03/2009	03/01/2011	Active	NO
40	U40106AP2008PTC061644	RECHAL SOLAR POWER PRIVATE LIMITED	Director	10/08/2009	26/03/2009	03/01/2011	Active	NO
41	U70102AP2008PTC060639	PARASME REAL ESTATES PRIVATE LIMITED	Director	08/08/2009	26/03/2009	03/01/2011	Active	NO
42	U60200AP2008PTC060760	TOURISM AND TRAVEL MEDIA ENTERTAINMENT PRIVATE LIMITED	Additional director	29/07/2011	29/07/2011	-	Active	NO
43	U01403AP2012PTC079707	SUN BEAMS PRODUCER COMPANY LIMITED	Director	13/03/2012	13/03/2012	-	Active	NO
44	U01403AP2012PTC080586	AGRIGOLD MULTI-PRODUCTS PRODUCER COMPANY LIMITED	Director	27/04/2012	27/04/2012	-	Active	NO
45	U85300AP2012NPL082609	SRI SAI CHAITANYA CHARITABLE TRUST	Director	22/08/2012	22/08/2012	-	Active	NO

Name :

Mr. Alivelu Mangatai Kompalli

Designation :

Whole Time Director

Address :

23-35-39, Adavi Seshagiri Rao Street, Lakshmi Nagar, Satyanarayanapuram, Vijayawada - 520011, Andhra Pradesh, India

Date of Birth/Age :

05.06.1965

Date of Appointment :

01.10.2012

DIN No.:

00101795

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	U51909AP1996PLC025600	AGRI GOLD EXIMS LIMITED	Director	01/11/1996	01/11/1996	11/01/2010	Active	NO
2	U45200AP1997PTC027809	AGRI GOLD CONSTRUCTIONS PRIVATE LIMITED	Director	22/08/1997	22/08/1997	22/03/2010	Active	NO
3	U51219AP1997PLC027851	AGRI GOLD PROJECTS LIMITED	Director	28/08/1997	28/08/1997	03/01/2011	Active	NO
4	U24120AP1999PTC031354	AGRI GOLD ORGANICS PRIVATE LIMITED	Director	19/03/1999	19/03/1999	-	Active	NO
5	U15209AP2001PTC038236	AMRUTHA VARSHINI DAIRY FARMS PRIVATE LIMITED	Director	19/12/2001	19/12/2001	-	Active	NO
6	U92199AP2002PTC039047	ARKA LEISURE AND ENTERTAINMENTS PRIVATE LIMITED	Director	11/06/2005	11/06/2005	05/07/2007	Active	NO
7	U72200AP2001PTC036676	SUNLYNE MARKETING PRIVATE LIMITED	Director	29/08/2005	29/08/2005	20/07/2009	Active	NO
8	U66010AP2006PTC049389	AVISHKARA LIFE INSURANCE PRIVATE LIMITED	Director	03/03/2006	03/03/2006	-	Active	NO
9	U70102AP1996PTC025602	AGRI GOLD INFRADEVELOPERS PRIVATE LIMITED	Director	20/07/2006	20/07/2006	01/03/2010	Active	NO
10	U74999AP2007PTC053696	RETAIL SMART GLOBAL SHOPPING PRIVATE LIMITED	Director	28/08/2008	01/06/2007	-	Active	NO
11	U01120AP1995PLC022211	AGRI GOLD FOODS AND FARM PRODUCTS LIMITED	Whole-time director	01/10/2012	01/06/2007	-	Active	NO
12	U32109KA2007PTC042635	AVVAS INFOTECH PRIVATE LIMITED	Director	09/06/2007	09/06/2007	10/08/2009	Active	NO
13	U01119AP2007PTC055198	MOHANA GROVES PRIVATE LIMITED	Director	21/08/2007	21/08/2007	10/06/2009	Active	NO
14	U02005AP2007PTC055189	PRIYA TIMBER ESTATES PRIVATE LIMITED	Director	21/08/2007	21/08/2007	10/06/2009	Active	NO
15	U02001AP2007PTC055186	KEESARA TIMBER ESTATES PRIVATE LIMITED	Director	21/08/2007	21/08/2007	10/06/2009	Active	NO
16	U45200AP2008PTC057993	AVANINDRA INFRA VENTURES PRIVATE LIMITED	Director	05/03/2008	05/03/2008	23/03/2010	Active	NO
17	U70200AP2008PTC058195	KAMALATMIKA ESTATES PRIVATE LIMITED	Director	17/03/2008	17/03/2008	-	Active	NO
18	U45200AP2007PTC053431	SHAKTIPRIYA PROJECTS PRIVATE LIMITED	Director	25/08/2008	26/03/2008	09/06/2009	Active	NO
19	U02005AP2007PTC055408	SAILASRI TIMBER ESTATES PRIVATE LIMITED	Director	25/08/2008	26/03/2008	09/06/2009	Active	NO
20	U02005AP2007PTC055637	SHAKTI TIMBER ESTATES PRIVATE LIMITED	Director	28/08/2008	27/03/2008	09/06/2009	Active	NO
21	U45209AP2008PTC058384	ANIIJ REALTERS PRIVATE LIMITED	Director	27/03/2008	27/03/2008	09/06/2009	Active	NO
22	U45400AP2008PTC060482	WELLDO HOMES INDIA PRIVATE LIMITED	Director	06/08/2008	06/08/2008	11/06/2009	Active	NO
23	U45209AP2008PTC058079	AKHILENDRA INFRA AND AGRO VENTURES PRIVATE LIMITED	Managing director	12/09/2008	02/09/2008	-	Active	NO
24	U40106AP2008PTC061644	RECHAL SOLAR POWER PRIVATE LIMITED	Director	31/10/2008	31/10/2008	11/06/2009	Active	NO
25	U45200TN2008PTC070126	BANDHO REAL ESTATES PRIVATE LIMITED	Director	11/12/2008	11/12/2008	11/06/2009	Active	NO

Name :

Mr. Venkata Krishna Anjaneya Prasad Puligadda

Designation :

Director

Address :

D.No.23-26-8/A, Sumanam vari Street, Satyanarayanapuram, Vijayawada – 520011, Andhra Pradesh, India

Date of Birth/Age :

01.07.1968

Date of Appointment :

24.08.2000

DIN No.:

00325461

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	U01120AP1995PLC022211	AGRI GOLD FOODS AND FARM PRODUCTS LIMITED	Director	24/08/2000	24/08/2000	-	Active	NO
2	U45309AP2001PTC038237	AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED	Director	19/03/2002	19/03/2002	22/03/2010	Active	NO
3	U51909AP1996PLC025600	AGRI GOLD EXIMS LIMITED	Director	12/06/2006	12/06/2006	-	Active	NO
4	U01403AP2007PTC053425	SWARNASIRI PLANTERS PRIVATE LIMITED	Director	02/04/2007	02/04/2007	-	Active	NO
5	U74900AP2007PTC055219	SAHAJA TIMBER PROJECTS PRIVATE LIMITED	Director	22/08/2007	22/08/2007	-	Active	NO
6	U02005AP2007PTC055409	DUBAGUNTA TIMBER ESTATES PRIVATE LIMITED	Director	05/09/2007	05/09/2007	-	Active	NO
7	U02005AP2007PTC055408	SAILASRI TIMBER ESTATES PRIVATE LIMITED	Director	05/09/2007	05/09/2007	-	Active	NO
8	U45400AP2008PTC060484	PULANE CONSTRUCTIONS PRIVATE LIMITED	Director	06/08/2008	06/08/2008	-	Active	NO
9	U45400AP2008PTC061057	SASHI INFRA VENTURES PRIVATE LIMITED	Director	16/09/2008	16/09/2008	-	Active	NO
10	U13200AP2008PTC061743	PADMASREE MINERALS INDIA PRIVATE LIMITED	Director	07/11/2008	07/11/2008	-	Active	NO
11	U24117TN2008PTC070154	ARBIN CHEM PRIVATE LIMITED	Director	12/12/2008	12/12/2008	-	Active	NO
12	U45200AP2009PTC064626	ASPEN INFRA VENTURES INDIA PRIVATE LIMITED	Director	04/08/2009	04/08/2009	-	Active	NO
13	U45209AP2009PTC065609	RUPIKA INFRA VENTURES PRIVATE LIMITED	Director	23/10/2009	23/10/2009	-	Active	NO
14	U70102AP2011PTC074082	WINSTON REAL ESTATE INDIA PRIVATE LIMITED	Director	26/04/2011	26/04/2011	-	Active	NO
15	U70102AP2011PTC074192	JAITHVI REALTORS PRIVATE LIMITED	Director	30/04/2011	30/04/2011	-	Active	NO

Name :

Mr. Chaganti Sridevi Sirisha

Designation :

Director

Address :

Vinayasadanam, Sivalayam Street, Satyanarayanapuram, Vijayawada – 520011, Andhra Pradesh, India

Date of Birth/Age :

16.05.1975

Date of Appointment :

30.10.2000

DIN No.:

00325743

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	U01120AP1995PLC022211	AGRI GOLD FOODS AND FARM PRODUCTS LIMITED	Director	30/10/2000	30/10/2000	-	Active	NO
2	U24120AP1999PTC031354	AGRI GOLD ORGANICS PRIVATE LIMITED	Director	18/06/2005	18/06/2005	30/01/2007	Active	NO
3	U15209AP2001PTC038236	AMRUTHA VARSHINI DAIRY FARMS PRIVATE LIMITED	Director	06/04/2006	06/04/2006	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Bodies corporate	87.03
Directors or relatives of directors	12.97
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Foods, Seeds, Milk, Farm Products.

Products :

Product Description	ITC Code
Foods	0110
Milk	0101

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Actual Production
Food Division	MT	1580
Milk Division	Ltrs	22787640
Seed Division	MT	7727
Export Division	MT	851

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Axis Bank, 59A, 1-7, Matha Towers, Bishop’s House, Near Maris Stella College, Benz Circle, Vijayawada - 520008, Andhra Pradesh, India

· Andhra Bank, No.39-10-5, VNR Towers, Water Tank Road, Labbipet, Vijayawada - 520010, Andhra Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks secured	204.827	169.257
Total	204.827	169.257
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Deposits related parties unsecured	91.062	0.000
Total	91.062	0.000

Note:

Refers to Inter Corporate Deposits / Loans of Rs.91.000 Millions received from Agri Gold Constructions Pvt. Ltd., a Group Company.

Banking Relations :	--
Auditors :
Name :	Rao And Narayana Chartered Accountants
Address :	29-4-8, Kodanda Ram Reddy Street, Governorpet, Vijayawada-520002, Andhra Pradesh, India
PAN No.:	AACFR8962N
Joint Venture :	Agri Gold Baylane General Trading LLC.
Subsidiary :	· Avishkara Life Insurance Private Limited · Chandi Technologies and Industries Limited · Communication Next Consultancy Private Limited · Harithasadhana Projects Private Limited CIN No.: U45200AP2007PTC053253 · Pendyala Timber Estates Private Limited CIN No.: U01119AP2007PTC055518 · Retail Smart Global Shopping Private Limited · Uniphase Chemicals Private Limited · Akhilendra Infra and Agro Ventures Private Limited

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3723100	Equity Shares	Rs.10/- each	Rs.37.231 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		37.231	31.831	15.831
2] Share Application Money		10.000	65.143	0.000
3] Reserves & Surplus		1801.772	1531.621	742.273
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1849.003	1628.595	758.104
LOAN FUNDS
1] Secured Loans		204.827	169.257	40.043
2] Unsecured Loans		91.062	0.000	142.965
TOTAL BORROWING		295.889	169.257	183.008
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		2144.892	1797.852	941.112
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		651.150	240.723	203.435
Capital work-in-progress		0.000	116.900	0.000
INVESTMENT		277.777	261.277	261.277
DEFERREX TAX ASSETS		0.000	0.000	1.617
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	296.251	176.651	124.288
	Sundry Debtors	158.575	102.501	99.177
	Cash & Bank Balances	80.503	152.639	101.719
	Other Current Assets	0.000	0.000	4.669
	Loans & Advances	822.390	798.084	180.686
Total Current Assets		1357.719	1229.875	510.539
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	111.333	39.852	27.964
	Other Current Liabilities	13.243	0.473	0.611
	Provisions	17.178	10.598	7.181
Total Current Liabilities		141.754	50.923	35.756
Net Current Assets		1215.965	1178.952	474.783
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2144.892	1797.852	941.112

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1312.494	967.964	668.104
		Other Income	2.459	0.733	3.683
		TOTAL (A)	1314.953	968.697	671.787
Less	EXPENSES
		Consumption materials changes inventories	1131.147	827.103
		Manufacturing service costs	23.614	16.306
		Employee related expenses	36.551	80.942
		Administrative selling other expenses	74.200	69.766
		Research development expenditure	11.511	13.554
		TOTAL (B)	1277.023	1007.671	653.450 (Including Financial Expenses)
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		37.930	(38.974)
Less	FINANCIAL EXPENSES (D)		4.277	3.840
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		33.653	(42.814)	18.337
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.636	7.212	5.756
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		25.017	(50.026)	12.581
Less	PRIOR PERIOD EXPENSES		0.000	0.000	1.880
Less	TAX (H)		17.352	4.702	2.473
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		7.665	(54.728)	8.228
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000	0.000	162.859
	BALANCE CARRIED TO THE B/S		7.665	(54.728)	171.087
	Earnings Per Share (Rs.)		2.06	(14.70)	5.20

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.58	(5.65)	1.22
Net Profit Margin (PBT/Sales)	(%)	1.91	(5.17)	1.88
Return on Total Assets (PBT/Total Assets}	(%)	1.25	(3.40)	1.76
Return on Investment (ROI) (PBT/Networth)		0.01	(0.03)	0.02
Debt Equity Ratio (Total Liability/Networth)		0.24	0.14	0.29
Current Ratio (Current Asset/Current Liability)		9.58	24.15	14.28

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	No
10]	Designation of contact person	No
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	No
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

REVIEW OF ACTIVITIES:

During the year, the Company’s performance is progressive. the Company recorded a sale turnover of Food Products Rs.311.400 Millions (Rs.265.000 Millions), export turnover of Rs.66.000 Millions (Rs.38.400 Millions), Milk Division Rs.704.600 Millions (Rs.498.200 Millions) and Seeds Division Rs.70.100 Millions (Rs.87.800 Millions), Cosmetics and Health Care Products Rs.44.700 Millions (Rs.40.000 Millions) and other trading goods Rs.91.500 Millions. Overall sales during the year were Rs.1288.600 Millions as against Rs.929.800 Millions during the preceding year.

INDIAN FOOD INDUSTRY:

With an average of annual economic growth and expending middle class, over 300 million, the Indian food market is set to more than double by 2025. The market size for the food consumption category in India is expected to grow from US$ 155 billion in 2005 to US$ 344 billion in 2025 at a compound annual growth rate of 4.1 per cent.

In India, the food processing industry is one of the largest in terms of production, consumption and export prospects. The Government has set an investment target of Rs.1000000.000 Millions for the food processing sector by 2015. This is expected to almost double the country's presence in the global food trade to three per cent. The investments of one Lakh crore, as estimated by the government will, undoubtedly, catapult the growth of this sector, and put it at the higher growth trajectory.

The market size for the processed foods is bound to increase from INR 4,600 bn ($102 bn) to INR 13,500 bn ($ 330 bn) by 2014-15, assumed to grow at 10%, and the share of the value added products in processed foods would grow from INR 2800 bn ($44 bn) to INR 5700 bn, growing at the rate of 15%. The growth witnessed by the sector in the last decade and further improvement in growth rate expected in the years to come, presents innumerable opportunities for investment.

Earlier, food processing was largely confined to the food preservation, packaging and transportation, which mainly involved salting, curdling, drying, pickling, etc. However, over the years, with emerging new markets and technologies, the sector has widened its scope. It has started producing many new items like ready to cook, ready-to-eat food, beverages, processed and frozen fruit and vegetable products, marine and meat products, etc. It also includes establishment of post-harvest infrastructure for processing of various food items like cold storage facilities, food parks, packaging centres, value added centres, irradiation facilities and modernized abattoir.

India has a strong agricultural production base with diverse agro-climatic conditions and arable land of 184 million hectares. It is one of the major food producers in the world and has abundant availability of wide variety of crops, fruits, vegetables, flowers, live-stock and seafood. India produces annually 90 million tonnes of milk (highest in the world); 150 million tonnes of fruits and vegetables (second largest); 485 million livestock (largest); 204 million tonnes of food grains (third largest); 6.3 million tonnes of fish (third largest); 489 million poultry and 45,200 million eggs. As a result, Indian food processing industry has become an attractive destination for investors the world over.

The size of the semi-processed and ready to eat packaged food industry is over Rs.40000.000 Millions (US $ 1 billion) and is growing at over 20%.

Employing over 1.6 million people, India's food processing industry contributes 6.3% to the GDP and 16% to exports and 6 per cent of total industrial investment. Food retail accounts for 26 per cent of India's GDP and is growing at a compounded annual growth rate of 7-8 per cent.

At present, the food processing segment holds a 32% share of India's booming food industry. Exports of processed food have grown at over 190% between 2002-03 and 2006-07, increasing from $6.98 billion in 2002-03 to $20.51 billion in 2006-07. FDI inflows in the food sector have been high and according to estimates, they are likely to touch $325 million by 2009. The market size for processed foods is pegged at $102 billion, with the potential to grow by 10% to $330 billion by 2015.

The country produces over 500 million tonnes of agricultural, horticultural and dairy produce annually, thus making it one of the world's largest food producers. However, the country's food processing industry is in a nascent stage. Only around 2% of fruits and vegetables are processed, and the figure stands at 15 per cent for milk, 26% for marine, 6% for poultry and 20% for buffalo meat, as against 60-70% of the overall food production in developed countries. Milk and milk products contribute to nearly 17% of the country's total expenditure on food. India has 53% of world's buffalo, 23% of sheep and 842 million poultry (6th largest in the world).

The spices and stimulants market consists of the spices group, which includes chillies, peppers, cloves, cinnamon, nutmeg, aniseed, ginger, vanilla and spices of domestic importance, while the stimulants segment includes coffee, cocoa, and tea. Both groups are accounted in unprocessed form and primary processed products. The market volumes reflect supply in each country, calculated on the basis of production plus imports minus exports. No allowance is made for changes in stock levels, and forage crops and wastage are also not included. Agricultural items are valued at producer prices. Any currency conversions included in this report have been calculated using constant 2010 annual average exchange rates.

The Indian spices & stimulants industry had total revenue of $3.3 billion in 2010, representing a compound annual growth rate (CAGR) of 7.2% for the period spanning 2006-2010. Industry consumption volumes decreased with a compound annual rate of change (CARC) of -1% between 2006-2010, to reach a total of 3,359.4 thousand tons in 2010.

The performance of the industry is forecast to decelerate, with an anticipated CAGR of 3.7% for the five- year period 2010-2015, which is expected to drive the industry to a value of $3.9 billion by the end of 2015.

FIXED ASSETS

· Land

· Building

· Computers and Software

· Electrical Fittings

· Furniture and Fixtures

· Office Equipment

· Plant and Machinery

· Vehicles

Note:

The Registered Office of the company has been shifted from 40-1-21/21m 4th Floor, Catolic Complex, M.G. Raod, Vijayawada – 520010, Andhra Pradesh, India to the present address w.e.f. 31.03.2007

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U01120AP1995PLC022211
Name of the company	AGRI GOLD FOODS AND FARM PRODUCTS LIMITED
Address of the registered office or of the principal place of business in India of the company	D. No.40-1-21/3, 1^st Floor, Surya Towers, M. G. Road, Vijayawada - 520010, Andhra Pradesh, India E-mail: gmfaagrigold@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10348649
Type of charge	Immovable property
Particular of charge holder	Andhra Bank, No.39-10-5, VNR Towers, Water Tank Road, Labbipet, Vijayawada - 520010, Andhra Pradesh, India E-mail: bmvwd343@andhrabank.co.in
Nature of instrument creating charge	Memorandum of Deposit of Title Deeds
Date of instrument Creating the charge	07.06.2012
Amount secured by the charge	Rs.1018.400 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Same as earlier Terms of Repayment Same as earlier Margin Same as earlier Extent and Operation of the charge Charge operates full on securities.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitable Mortgage of land admeasuring Ac.3.54 2/3 cents situated in R.S.Nos.370/1,2,3,4 and 5 at Surampalli Panchayat, Gannavaram Mandal, Krishna District along with RCC building and ACC sheet sheds constructed there on. Equitable Mortgage of land admeasuring 1170.17 sq.yds situated in D.No.77-61-1A, Agri Gold Plaza, Prakash Nagar, Payakapuram, Vijayawada along with RCC building and ACC sheet shed constructed there on Second Charge on entire fixed assets of the Company both present and future excluding building located at T.S.No.1678, Dr.No.28-11 and 12, Konark Plaza, Suryabagh, Opposite Chitralaya, Visakhapatnam for Working Capital limit Second Charge on entire current assets of the Company both present and future for Term Loan.
Particulars of the present modification	There is no change in the limit of Rs. 1018.400 Millions. The limit was secured by the additional property.

AS PER WEBSITE DETAILS:

PROFILE

Agri Gold Group of Companies, since 1995 has been making impressive forays into different sectors with its visionary approach. Team drive and conceptualized business. The success of the group is based on its ability to built on Forward and Backward Integration. Having the focus on providing Aaharam (Food), Aarogyam (Health and Wellness), Aavasam (Housing) and Aanandam (Entertainment) to the consumers, customers at large. Agri Gold Group in the last 15 years focused its industrious mission on generating opportunities and promoting prosperity in rural and semi urban areas. Creating earning opportunities of different dimensions has been its business approach in the last 15 years.

Power, Tourism, Infrastructure and Agri Business are the core segments of the Group. Thus the Group is emerging as a conglomerate tower on a strong foundation of its principles and concepts.

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.54.53
UK Pound	1	Rs.87.48
Euro	1	Rs.70.89

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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.