MIRA INFORM REPORT

1. Summary Information

		Country	India
Company Name	ANSHUL SPECIALITY MOLECULES LIMITED	Principal Name 1	Mrs. Usha Ashwin Shroff
Status	Satisfactory	Principal Name 2	Mr. Bahadur Vrajlal Gandhi
		Registration #
Street Address	13, Aradhana Industrial, Development Corporation, Near Virwani Industrial Estate, Goregaon (East), Mumbai- 400063, Maharashtra, India
Established Date	05.10.1971	SIC Code	--
Telephone#	91-22-28721480/ 81/ 82/ 83/ 84/ 85	Business Style 1	Manufacturer of Pharma intermediates and perfumery chemicals.
Fax #	91-22-28721486	Business Style 2	--
Homepage	--	Product Name 1	--
# of employees	300 (Approximately)	Product Name 2	--
Paid up capital	Rs.5.456 Millions	Product Name 3	--
Shareholders	Ashwin Shroff Usha Shroff – 8936	Banking	Bank of India
Public Limited Corp.	--	Business Period	41 years
IPO	---	International Ins.	-
Public Enterprise	---	Rating	Ba (47)
Related Company
Relation Associates	Country India	Company Name	Good Rasayan Limited
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	148,258,000	Current Liabilities	137,528,000
Inventories	77,789,000	Long-term Liabilities	353,373,000
Fixed Assets	142,394,000	Other Liabilities	6,378,000
Deferred Assets	--	Total Liabilities	497,279,000
Invest& other Assets	206,833,000	Retained Earnings	72,539,000
		Net Worth	77,995,000
Total Assets	575,274,000	Total Liab. & Equity	575,274,000
Total Assets (Previous Year)	400,775,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	352,132,000	Net Profit	16,788,000
Sales(Previous yr)	236,458,000	Net Profit(Prev.yr)	18,402,000

MIRA INFORM REPORT

Report Date :

06.02.2012

IDENTIFICATION DETAILS

Name :	ANSHUL SPECIALITY MOLECULES LIMITED

Formerly Known As :	ANSHUL CHEMICALS LTD

Registered Office :	13, Aradhana Industrial, Development Corporation, Near Virwani Industrial Estate, Goregaon (East), Mumbai- 400063, Maharashtra

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	05.10.1971

Capital Investment / Paid-Up Capital :	Rs.5.456 Millions

Com. Reg. No.:	11-015364

CIN No.: [Company Identification No.]	U24100MH1971PLC015364

Legal Form :	A closely held Public Limited Liability Company

Line of Business :	Manufacturer of Pharma intermediates and perfumery chemicals.

No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 311980

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

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

INFORMATION PARTED BY

Name :	Mr. Prajapati
Designation :	Accounts Manager

LOCATIONS

Registered Office :	13, Aradhana Industrial, Development Corporation, Near Virwani Industrial Estate, Goregaon (East), Mumbai- 400063, Maharashtra, India
Tel No.:	91-22-28721480/ 81/ 82/ 83/ 84/ 85
Fax No.:	91-22-28721486
E-Mail :	anshul@mtnl.net.in
Website :	www.anshulchemicals.com www.anshulspecialtymolecules.com
Area :	1500Sq.ft.
Location :	Owned

Factory :	Excel Estate, S V Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India
Tel. No.:	91-22-28724091
Fax No.:	91-22-28746932
E-Mail :	anshul@mtnl.net.in

DIRECTORS

AS ON 23.09.2011

Name :	Mrs. Usha Ashwin Shroff
Designation :	Director
Address :	B -15, Vasant Theosophical Society Juhu Road, Juhu, Mumbai – 400 049, Maharashtra, India
Date of Birth/Age :	28.03.1947
Date of Appointment :	24.11.1979
E-Mail:	uashroff@hotmail.com
CIN No:	00020519

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24100MH1971PLC015364	ANSHUL SPECIALTY MOLECULES LIMITED	Director	24/11/1979	24/11/1979	-	Active	NO
2	U24100MH1980PTC022574	UTKARSH CHEMICALS PRIVATE LIMITED	Director	01/05/1980	01/05/1980	-	Active	NO
3	U65990MH1984PTC033172	BRIHAT INVESTMENT PRIVATE LIMITED	Director	18/06/1984	18/06/1984	-	Active	NO
4	U67120MH1984PTC033533	HARIJASH INVESTMENTS PVT LTD	Director	24/07/1984	24/07/1984	-	Active	NO
5	U65990MH1983PLC030597	KAMALJYOT INVESTMENTS LIMITED	Director	01/02/1991	01/02/1991	-	Active	NO
6	U24230MH1991PTC063555	DIVAKAR CHEMICALS LTD	Director	10/10/1991	10/10/1991	-	Active	NO
7	U74120GJ1989PLC012329	TML INDUSTRIES LIMITED	Director	16/07/1992	16/07/1992	-	Active	NO
8	U24210GJ1985PLC007569	AGROCEL INDUSTRIES LIMITED	Director	26/06/1996	26/06/1996	-	Active	NO
9	L24200MH1960PLC011807	EXCEL INDUSTRIES LIMITED	Whole-time director	22/01/2008	13/09/2000	-	Active	NO
10	U24110MH1995PLC092429	GOOD RASAYAN LIMITED	Director	20/10/2001	20/10/2001	-	Active	NO
11	U01403MH2007PLC176907	EXCEL BIO RESOURCES LIMITED	Director	18/12/2007	18/12/2007	-	Active	NO

Name :	Mr. Bahadur Vrajlal Gandhi
Designation :	Director
Address :	15/204, Indradarshan Phase II, Oshiwara, Andheri (West), Mumbai – 400 053, Maharashtra, India
Date of Birth/Age :	18.11.1948
Date of Appointment :	30.08.1984
E-Mail:	bvgandhi@excelind.com
CIN No:	00074390

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24100MH1971PLC015364	ANSHUL SPECIALTY MOLECULES LIMITED	Director	30/08/1984	30/08/1984	-	Active	NO

Name :	Mr. Vipin Keshavlal Doshi
Designation :	Director
Address :	A – 203, Pushp Heritage Mahavir Nagar, Kandivli (West), Mumbai – 400 067, Maharashtra, India
Date of Birth/Age :	21.10.1948
Date of Appointment :	30.08.1984
E-Mail:	vdoshi@excelind.com
CIN No:	00167880

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24100MH1971PLC015364	ANSHUL SPECIALTY MOLECULES LIMITED	Director	30/08/1984	30/08/1984	-	Active	NO
2	U01407MH2008NPL181505	DEVELOPMENTAL & ECO-FRIENDLY ENTERPRISES	Director	24/04/2008	24/04/2008	-	Active	NO

Name :	Mr. Ashok Veljee Isharani
Designation :	Director
Address :	312, Laxmichand House Telang Road, Matunga, Mumbai – 400 019, Maharashtra, India
Date of Birth/Age :	14.08.1944
Date of Appointment :	23.04.2002
E-Mail:	ashok@anshulindia.com
CIN No:	00037946

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24230MH1991PTC063555	DIVAKAR CHEMICALS LTD	Director	02/03/1998	02/03/1998	-	Active	NO
2	U24100MH1971PLC015364	ANSHUL SPECIALTY MOLECULES LIMITED	Director	23/04/2002	23/04/2002	-	Active	NO
3	U45202MH2010PTC204977	HARRODS BUILDERS PRIVATE LIMITED	Director	13/09/2010	13/09/2010	-	Active	NO

Name :	Mr. Jagdish Ramanlal Naik
Designation :	Director
Address :	6 Padma, S V Road, Vile Parle (West), Mumbai – 400 056, Maharashtra, India
Date of Birth/Age :	23.09.1958
Date of Appointment :	21.07.2006
E-Mail:	jagdish@excelind.com
Other Directorship :	Excel Crop Care Limited CIN: L74999MH1964PLC012878 Punjab Chemicals and Corp Protection Limited CIN: L24231CH1975PLC003603 Acrysil Limited CIN: U26914MH1987PLC042283 Agrocel Industrial Limited CIN: U24210GJ1985PLC007569 Utkarsh Chemicals Private Limited CIN: U24100MH1980PTC022574 Divakar Chemicals Limited CIN: U24230MH1991PTC063555 Good Rasayan Limited CIN: U24110MH1995PLC092429
Other Proprietorship:	Naik J R and Company Address: 6, Padma, S.V. Road, Vile Parle (West), Mumbai-400056, Maharashtra, India
CIN No:	00030172

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L26914MH1987PLC042283	ACRYSIL LIMITED	Director	29/03/1989	29/03/1989	-	Active	NO
2	L24231CH1975PLC003603	PUNJAB CHEMICALS AND CROP PROTECTION LIMITED	Director	26/03/1994	26/03/1994	-	Active	NO
3	U24230MH1991PTC063555	DIVAKAR CHEMICALS LTD	Director	24/08/1994	24/08/1994	-	Active	NO
4	U24100MH1980PTC022574	UTKARSH CHEMICALS PRIVATE LIMITED	Director	02/05/1995	02/05/1995	-	Active	NO
5	U24210GJ1985PLC007569	AGROCEL INDUSTRIES LIMITED	Director	26/06/1996	26/06/1996	-	Active	NO
6	U24110MH1995PLC092429	GOOD RASAYAN LIMITED	Director	05/07/1999	05/07/1999	-	Active	NO
7	L74999MH1964PLC012878	EXCEL CROP CARE LTD	Director	01/02/2003	01/02/2003	-	Active	NO
8	U01110GJ2005PLC047254	KUTCH CROP SERVICES LIMITED	Director	12/07/2006	12/07/2006	-	Active	NO
9	U24100MH1971PLC015364	ANSHUL SPECIALTY MOLECULES LIMITED	Director	21/07/2006	21/07/2006	-	Active	NO
10	U65993MH2006PLC164038	ECCL INVESTMENTS AND FINANCE LIMITED	Director	24/08/2006	24/08/2006	-	Active	NO
11	U01407MH2008NPL181505	DEVELOPMENTAL & ECO-FRIENDLY ENTERPRISES	Director	24/04/2008	24/04/2008	15/06/2009	Active	NO
12	U02412GJ2006PLC049495	EXCEL GENETICS LIMITED	Director	19/07/2010	24/09/2009	-	Active	NO
13	U28910MH2010PTC202493	ACRYSIL STEEL PRIVATE LIMITED	Director	28/04/2010	28/04/2010	-	Active	NO
14	U26960MH2011PTC212405	ACRYSIL QUARTZ PRIVATE LIMITED	Director	17/01/2011	17/01/2011	-	Active	NO

Name :	Mr. Ravi Ashwin Shroff
Designation :	Additional Director
Address :	B – 15 Vasanta Theosophical Society, Juhu Tara Road, Mumbai – 400 049, Maharashtra, India
Date of Birth/Age :	05.02.1978
Date of Appointment :	20.04.2008
CIN No:	00033505

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U65990MH1984PTC033172	BRIHAT INVESTMENT PRIVATE LIMITED	Director	15/04/1996	15/04/1996	-	Active	NO
2	U67120MH1984PTC033533	HARIJASH INVESTMENTS PVT LTD	Director	16/07/2001	16/07/2001	-	Active	NO
3	U72900MH2007PTC174241	NUEVO TELESOFT PRIVATE LIMITED	Director	18/09/2007	18/09/2007	-	Active	NO
4	L23205GJ1965PLC001343	TRANSPEK INDUSTRY LIMITED	Director	22/08/2008	29/03/2008	-	Active	NO
5	U24100MH1971PLC015364	ANSHUL SPECIALTY MOLECULES LIMITED	Director	09/02/2010	20/04/2008	-	Active	NO
6	U24100MH1980PTC022574	UTKARSH CHEMICALS PRIVATE LIMITED	Director	30/11/2009	30/11/2009	-	Active	NO
7	U65990MH1983PLC030597	KAMALJYOT INVESTMENTS LIMITED	Additional director	18/08/2011	18/08/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Prajapati
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 23.09.2011

Names of Shareholders	No. of Preference Shares	No. of Equity Shares
Ashwin Shroff Usha Shroff	17745	8936
Usha Shroff Ashwin Shroff	4755	5746
Snehalata Shroff Ashwin Shroff Usha Shroff	--	2500
Ashwin Shroff Usha Shroff Ravi Shroff Hrishit Shroff	--	150
Hrishit Shroff Ashwin Shroff Usha Shroff	--	3810
Utkarsh Chemicals Private Limited	--	2633
Harijash Investments Private Limited	--	3150
Brihat Investments Private Limited	--	375
Ashwin Shroff Ashok Isharani Ravi Shroff	--	10
Ravi Shroff Usha Shroff Ashwin Shroff	--	3810
Anshul Bhatia Amrish Bhatia Usha Shroff	--	935
Total	22500	32055

AS ON 23.09.2011

Equity Share Breakup (Percentage of Total Equity):-

Category	Percentage
Bodies Corporate	19.00
Directors or relative of directors	81.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of pharma intermediates and perfumery chemicals.

Products :

ITC Code	Product Description
2903.19.09	Hexachloroethane
2922.50.04	Methyl Anthranilate
2905.90.00	Oxalyl Chloride

Exports :

Products :

Lawessin’s Reagent, Non Dangerous Chemicals

Countries :

United Kingdom
Singapore
Switzerland
Korea
Spain
Belgium
USA
Canada

Imports :

Products :

Perchloroethylene

Steel Drum

Countries :

Spain
United Kingdom
Germany
Korea

Terms :

Selling :

L/C, Cash, Credit (30 days / 60 days / 90 days)

Purchasing :

L/C, Cash, Credit (30 days / 60 days / 90 days)

PRODUCTION STATUS AS ON : 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production *
Hexachloroethane	Kgs	1500000	972000	410025
Lawessin’s Reagent	Kgs	18000	18000	855
Oxalyl Chloride	Kgs	312000	252000	149643
Isatoic Anhydride	Kgs	750000	510000	345375@
Methyl Anthranilate	Kgs	300000	612000	271472
Chloromethyl Isopropy Carbonate	Kgs	--	96000	203538
Dimethyl Anthranilate	Kgs	60000	30000	11535
Freshness Flavour Booster WS3 DQ (AF)	Kgs	--	25000	1150
Para Fluoro Thiophenol	Kgs	--	18000	814
P. M. P. A	Kgs	--	--	500

Note :

(a) Installed Capacity is as certified by a Director on which the Auditors have relied, being a technical matter.

(b) Licensed capacity includes capacity as acknowledged by the Directorate General of Technical Development Secretarial for Industrial Approvals.

(d) @ Production includes 137874 kgs used for captive consumption.

GENERAL INFORMATION

Customers :

End Users
OEM’s

No. of Employees :

300 (Approximately)

Bankers :

Bank of India, Andheri(West) Branch, Bank of India Building, Ground Floor, 28, S. V. Road,, Mumbai - 400058, Maharashtra, India

Facilities:

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
From Banks:
On Cash Credit Accounts	52.174	23.540
On term Loan Account (Repayable within on year Rs.8.250 Millions)	39.879	0.000
Total	92.053	23.540
Notes 1. Loans from Banks on Cash Credit Accounts are secured by hypothecation of stocks of raw materials, finished goods, goods-in-process, stores and book debts of the Company and are further secured by pledge of 27,500 (Previous Year : 27,500) Equity Shares of Rs.5/- each fully paid-up of Excel Industries Limited and 27,500 (Previous Year : 27,500) Equity Shares of Rs.5/-each fully paid-up of Excel Crop Care Limited as collateral security. 2. Term Loan from Bank of India amounting to Rs.3,98,79,309/- (Previous Year: Rs, Nil) is secured by first charge on all movable fixed assets, both present and future, of its factory situated at Plot Nos. 108, 109 and 110, MIDC Industrial Area, Dhatav, Roha. 3. Loans referred to above are also secured by equitable mortgage of land and existing factory buildings and hypothecation of the plant and machinery, furniture and fixtures, equipments and electrical installations, both present and future, of its factory situated at Plot Nos. 108, 109 and 110, MSDC Industrial Area, Dhatav, Roha, and is guaranteed by Smt. Usha A, Shroff, a Director of the Company and Shri A. C. Shroff in their individual capacities.
Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Fixed Deposits (Repayable within one year Rs. 0.500 Million Previous year Rs. 0.480 Million)	14.895	9.950
Short Term Loans (Repayable within one year Rs. 250.802 Millions previous year Rs. 265.131 Millions)	246.425	249.475
Total	261.320	259.425
Note: Short Term Loans including interest free loan received form a Director of the company. Rs. 73.300 Millions

Banking Relations :	--

Auditors :
Name :	S V Ghatalia and Associates Chartered Accountants
Address :	Medows House., 2^nd Floor, Nagindas Master Road, Fort, Mumbai – 400 023, Maharashtra, India
Tel No.:	91-22-40021011 / 22651011 / 66341011
Fax No.:	91-22-22654105
E Mail :	svgakrk@svga.in
Pan No.:	AACFS6921Q

Associates :	Good Rasayan Limited

Subsidiaries :	Anshul Agencies Brihat Investment Private Limited Divarkar Chemicals Limited Excel Industries Limited Agricel Industries Limited Transpek Industry Limited TML Industries Limited Utkarsh Chemicals Private Limited Kutch Corporation Care Limited Harjash Investments Private Limited Jaichemie C. C. Shroff Research Institute.

CAPITAL STRUCTURE

(As on 31.03.2011):-

Authorised Capital :

No. of Shares	Type	Value	Amount
47500	Equity Shares	Rs.100/- each	Rs.4.750 millions
22500	Preference Shares	Rs.100/- each	Rs.2.250 millions
		Total	Rs.7.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
32055	Equity Shares	Rs.100/- each	Rs.3.206 millions
22500	Preference Shares	Rs.100/- each	Rs.2.250 millions
		Total	Rs.5.456 millions

Notes:

a. Installed Capacity is as certified by a Director on which the Auditors have relied, being a technical matter.

b. Licensed Capacity includes capacity aa acknowledged by the Directorate General of Technical Development / Secretariat for Industrial Approvals.

c. *Represents actual production for sales and excludes samples.

d. @ Production includes 3.39.000 Kgs used for captive consuption (Previous Year: 3,79.310 Kgs)

e. $ Production includes 1,37,B74 Kgs purchased end reprocessed {Previous Year: Nil). If)

f. A purchased and reprocessed

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		5.456	5.456	5.456
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		72.539	55.947	37.542
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		77.995	61.403	42.998
LOAN FUNDS
1] Secured Loans		92.053	23.540	16.223
2] Unsecured Loans		261.320	259.425	269.700
TOTAL BORROWING		353.373	282.965	285.923
DEFERRED TAX LIABILITIES		6.378	3.559	0.000

TOTAL		437.746	347.927	328.921

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		142.394	76.150	66.547
Capital work-in-progress		0.000	0.503	4.136

INVESTMENT		206.833	206.833	206.833
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	77.789	27.894	31.704
	Sundry Debtors	93.907	65.150	40.642
	Cash & Bank Balances	2.359	4.055	1.595
	Other Current Assets	0.065	0.053	0.039
	Loans & Advances	51.927	20.137	15.289
Total Current Assets		226.047	117.289	89.269
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	68.188	24.770	17.469
	Other Current Liabilities	51.649	6.343	7.141
	Provisions	17.691	21.735	13.254
Total Current Liabilities		137.528	52.848	37.864
Net Current Assets		88.519	64.441	51.405

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		437.746	347.927	328.921

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	352.132	236.458	188.405
		Processing Charges (Tax deducted at source Rs.0.028 Million)	0.379	0.000	0.000
		Other Income form Operations	1.892	1.747	1.380
		Other Income	8.060	4.833	5.596
		TOTAL (A)	362.463	243.038	195.381

Less	EXPENSES
		Manufacturing and Other Expenses	338.601	189.227	180.446
		Increase/ Decrease in Stock	(19.061)	8.155	[14.951]
		Excess/ Short Provision	0.000	0.007	[0.021]
		TOTAL (B)	319.540	197.389	165.474

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		42.923	45.649	29.906

Less	FINANCIAL EXPENSES/ INTEREST (D)		8.954	3.602	3.772

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		33.969	42.047	26.134

Less/ Add	DEPRECIATION/ AMORTISATION (F)		11.362	9.585	8.209

	PROFIT BEFORE TAX (E-F) (G)		22.607	32.462	17.925

Less	TAX (H)		5.819	14.060	1.200

	PROFIT AFTER TAX (G-H) (I)		16.788	18.402	16.725

	EARNINGS IN FOREIGN CURRENCY		117.432	111.359	125.711

	IMPORTS
	Raw Materials		55.841	35.561	31.949
	Capital Goods		2.094	1.295	0.000
	TOTAL IMPORTS		57.935	36.856	31.949

	Earnings Per Share (Rs.)		517.64	337.310	243.91

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.63	7.57	8.56

Net Profit Margin (PBT/Sales)	(%)	6.42	13.73	9.51

Return on Total Assets (PBT/Total Assets}	(%)	6.13	16.78	11.50

Return on Investment (ROI) (PBT/Networth)		0.29	0.53	0.42

Debt Equity Ratio (Total Liability/Networth)		6.29	5.47	7.53

Current Ratio (Current Asset/Current Liability)		1.64	2.22	2.36

LOCAL AGENCY FURTHER INFORMATION

NOTES:-

The registered office of the company has been shifted from Excel Estates V Road, Goregaon (West), Mumbai – 400062, Maharashtra, India to Ram House, 1^st Floor 4, Gaiwadi Industrial Estate, S V Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India w. e. f. 18.04.2006

The registered office of the company has been shifted from Ram House, 1^st Floor 4, Gaiwadi Industrial Estate, S V Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India to the present address w. e. f. 01.07.2009

FORM 8

Corporate identity number of the company	U24100MH1971PLC015364
Name of the company	ANSHUL SPECIALITY MOLECULES LIMITED
Address of the registered office or of the principal place of business in India of the company	13, Aradhana Industrial, Development Corporation, Near Virwani Industrial Estate, Goregaon (East), Mumbai- 400063, Maharashtra, India
This form is for	Modification of Charge
Charge identification number of the charge to be modified	90164523
Type of charge	Book Debts Movable Property
Particular of charge holder	Bank of India, 28 Swami Vivekanand Road, Andheri (West), Mumbai – 400 058, Maharashtra, India
Nature of instrument creating charge	Supplemental Deed of Hypothecation
Date of instrument Creating the charge	04.05.2010
Amount secured by the charge	Rs. 29.840 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC (St. and BD) : 3.25% OBPLR presently 14.50% p.a. with monthly rests, EPC, FBN/FBP/FBD, I/F L/C DP DA 90 Days, G’tee (I): As per extent guidelines or at such other rate/s of interest as may be notified by the bank. Terms of Repayment On Demand Margin 25% against RM Imp. 30% against Indg. RM 35% against goods in process and finished goods, 40% against book debts outstanding of 2 or 3 months or as specified by the bank from time to time Extent and Operation of the charge Security in favour of Bank as first charge for due payment of all monies including principal sums/ interest/ commission, costs, charges and expenses and all other moneys, whatsoever due owing and payable by borrower to bank under on in respect of or in connect ion with or in anywise concerning or relating to said facilities agreed to be granted and / or granted by Bank to borrower as aforesaid and Also for due repayment of all present and future indebtedness and liabilities of borrower and continues in others Others *Bank of any kind in any manner whether solely or jointly, primary or collateral, accrued or accruing with all relatives interest/ commission, charges, costs and expenses. Revised Facilities and Limits (Rs. In Millions) A) FB 1) CC (Stocks) : Rs. 8.000 Millions 2) EPC: Rs. 4.000 Millions Max ( 1 and 2) Rs. 8.000 Millions 3) CC Book Debts Rs. 12.000 Millions 4) FBP/FBN/ FBD 90 Days Rs. 8.000 Millions Max ( 3 and 4) Rs. 12.000 Millions Sub Total (A) Rs. 20.000 Millions B) NFB: 1) I/F L/C DP DA 90 Days Rs. 9.000 Millions 2) Inland G’tee Rs. 0.840 Million Sub Total (B) Rs. 9.840 Millions Aggregate Limits Rs 29.840 Millions
Short particulars of the property charged	A) All tangible movable machineries and plant both present and future at Roha or wherever else b) All tangible movable properties and assets of whatsoever nature of the borrower (both present and future) where so ever situate at Dhatav (Roha) or wherever else c) All present and future book debts outstanding, money receivables, claims, bills which are now due and owing or which may at any time hereafter during the continuance of this security become due and owing to the borrower. Details as per supplemental deed.
Particulars of the present modification	1^st Modification, The principal amount of charge on the hypothecated assets is increased form Rs. 26.000 Millions to Rs. 29.840 Millions. Revised Facilities and Limits (Rs. In Millions) A) FB 1) CC (Stocks) Rs. 8.000 Millions 2) EPC : Rs. 4.000 Millions Max ( 1 and 2) Rs. 8.000 Millions 3) CC Book Debts Rs. 12.000 Millions 4) FBP/FBN/FBD 90 Days: Rs. 8.000 Millions Max (3 and 4) Rs. 12.000 Millions Sub Total (A) Rs. 20.000 Millions B) BFB: 1) I/F L/C DP DA 90 Days Rs. 9.000 Millions 2) Inland G’tee Rs. 0.840 Millions Sub Total (B) Rs. 9.840 Millions Aggregate Limits Rs. 29.840 Millions

Fixed Assets

Freehold Land
Leasehold Land
Building
Plant and Machinery
Furniture and Fixture and Office Equipments
Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.96
UK Pound	1	Rs.77.46
Euro	1	Rs.64.39

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

77.789

27.894

31.704

93.907

65.150

40.642

2.359

4.055

1.595

0.065

0.053

0.039

51.927

20.137

15.289

226.047

117.289

89.269

68.188

24.770

17.469

51.649

6.343

7.141

17.691

21.735

13.254

137.528

52.848

37.864

88.519

64.441

51.405

4.63

7.57

8.56

6.42

13.73

9.51

6.13

16.78

11.50

0.29

0.53

0.42

6.29

5.47

7.53

1.64

2.22

2.36

Unit