MIRA INFORM REPORT

Report Date :

06.07.2012

IDENTIFICATION DETAILS

Name :	MRS.BECTORS FOOD SPECIALITIES LIMITED
Registered Office :	Theing Road , Phillaur , Jalandhar - 144410 , Punjab
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.09.1995
Com. Reg. No.:	55-033417
Capital Investment / Paid-up Capital :	Rs. 298.153 Millions
CIN No.: [Company Identification No.]	U74899PB1995PLC033417
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Food Products including Biscuits, Confectionaries, Sauces etc.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 4900000
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 normal for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. Praveen Goel
Designation :	Accountant
Contact No.:	91-1826-222826
Date :	27.06.2012

LOCATIONS

Registered Office :	Theing Road, Phillaur, Jalandhar 144410, Punjab, India
Tel. No.:	91-1826-502923 / 222826 / 223139 / 225418
Fax No.:	91-1826-502902 / 222915
E-Mail :	info@mrs.bectorfood.com biscuits@mrsbectorfoods.com pkgoel@mrsbectorfoods.com
Website :
Location :	Owned

DIRECTORS

(AS ON 29.09.2011)

Name :	Mr. Dharamvir Bector
Designation :	Chairman and Whole Time Director
Address :	C-13, Sarabha Nagar, Ludhiana, Punjab, India
Date of Birth/Age :	01.04.1932
Date of Appointment :	30.09.2006
DIN No.:	00108654

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	Company/ LLP Status	Defaulting status
1	L15146PB1989PLC009676	CREMICA AGRO FOODS LIMITED	Whole-time director	31/01/1990	31/01/1990	Active	NO
2	U15146PB1989PLC009675	BECTOR FOODS LTD	Director	20/05/1992	20/05/1992	Active	NO
3	U15146PB1986PLC006994	CREMICA INDUSTRIES LTD	Director	06/05/1996	06/05/1996	Active	NO
4	U23123PB1999PLC023123	CREMICA FOOD SPECIALITIES LIMITED	Whole-time director	01/12/1999	01/12/1999	Active	NO
5	U74899PB1995PLC033417	MRS.BECTORS FOOD SPECIALITIES LIMITED	Whole-time director	01/04/2012	30/09/2006	Active	NO
6	U15209PB2011PLC034988	Cremica Milk Specialities Limited	Director	26/04/2011	26/04/2011	Active	NO
7	U15412PB2009PTC033442	BAKEBEST FOODS PRIVATE LIMITED	Additional director	03/03/2012	03/03/2012	Active	NO

Name :	Mr. Rajni Bector
Designation :	Whole Time Director
Address :	C-13, Sarabha Nagar, Ludhiana, Punjab, India
Date of Birth/Age :	02.06.1940
Date of Appointment :	30.09.2006
DIN No.:	00108730

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	U15146PB1989PLC009675	BECTOR FOODS LTD	Director	15/11/1994	15/11/1994	-	Active	NO
2	U15146PB1986PLC006994	CREMICA INDUSTRIES LTD	Director	02/07/1996	02/07/1996	-	Active	NO
3	U15205PB1997PLC020826	CREMICA FROZEN FOODS LIMITED	Whole-time director	11/12/1997	11/12/1997	-	Active	NO
4	U52201PB1992PLC012221	CREMICA FOODS LTD	Director	01/01/1999	01/01/1999	01/04/2007	Active	NO
5	L15146PB1989PLC009676	CREMICA AGRO FOODS LIMITED	Whole-time director	01/04/2006	01/04/2006	-	Active	NO
6	U74899PB1995PLC033417	MRS.BECTORS FOOD SPECIALITIES LIMITED	Whole-time director	01/04/2012	30/09/2006	-	Active	NO

Name :	Mr. Ajay Bector
Designation :	Director
Address :	C-13, Sarabha Nagar, Ludhiana, Punjab, India
Date of Birth/Age :	17.12.1958
Date of Appointment :	19.09.1995
DIN No.:	00058904

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	U15146PB1986PLC006994	CREMICA INDUSTRIES LTD	Whole-time director	16/11/1987	16/11/1987	31/01/2011	Active	NO
2	U52201PB1992PLC012221	CREMICA FOODS LTD	Director	24/04/1992	24/04/1992	-	Active	NO
3	U15146PB1989PLC009675	BECTOR FOODS LTD	Director	15/11/1994	15/11/1994	-	Active	NO
4	U15320PB1996PLC017907	KERRY LIMITED	Managing director	02/12/2009	29/07/1996	31/12/2011	Active	NO
5	U15205PB1997PLC020826	CREMICA FROZEN FOODS LIMITED	Whole-time director	11/12/1997	11/12/1997	-	Active	NO
6	L15146PB1989PLC009676	CREMICA AGRO FOODS LIMITED	Whole-time director	29/10/1999	29/10/1999	-	Active	NO
7	U23123PB1999PLC023123	CREMICA FOOD SPECIALITIES LIMITED	Whole-time director	24/04/2007	01/12/1999	-	Active	NO
8	U74899PB1995PLC033417	MRS.BECTORS FOOD SPECIALITIES LIMITED	Whole-time director	19/09/2005	19/09/2005	-	Active	NO
9	U15412PB2009PTC033442	BAKEBEST FOODS PRIVATE LIMITED	Director	25/02/2011	25/02/2011	-	Active	NO
10	U15209PB2011PLC034988	Cremica Milk Specialities Limited	Director	26/04/2011	26/04/2011	-	Active	NO

Name :	Mr. Akshay Bector
Designation :	Managing Director
Address :	C-13, Sarabha Nagar, Ludhiana, Punjab, India
Date of Birth/Age :	29.03.1961
Qualification :	B. Tech
Date of Appointment :	18.04.2000
DIN No.:	00058877

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	U15146PB1986PLC006994	CREMICA INDUSTRIES LTD	Whole-time director	10/09/1986	10/09/1986	-	Active	NO
2	U52201PB1992PLC012221	CREMICA FOODS LTD	Director	24/04/1992	24/04/1992	-	Active	NO
3	U15146PB1989PLC009675	BECTOR FOODS LTD	Director	07/09/1995	07/09/1995	-	Active	NO
4	U15320PB1996PLC017907	KERRY LIMITED	Director	22/03/1996	22/03/1996	10/01/2011	Active	NO
5	L15146PB1989PLC009676	CREMICA AGRO FOODS LIMITED	Whole-time director	29/10/1999	29/10/1999	-	Active	NO
6	U23123PB1999PLC023123	CREMICA FOOD SPECIALITIES LIMITED	Whole-time director	01/12/1999	01/12/1999	-	Active	NO
7	U74899PB1995PLC033417	MRS.BECTORS FOOD SPECIALITIES LIMITED	Managing director	01/04/2010	18/04/2000	-	Active	NO
8	U15312DL2010PLC207538	SHREE BANKEY BEHARI RICE MILLS LIMITED	Director	03/09/2010	03/09/2010	-	Active	NO
9	U91900PB2011NPL034564	YOUNG PRESIDENT'S ORGANISATION (PUNJAB CHAPTER)	Director	05/01/2011	05/01/2011	-	Active	NO
10	U15412PB2009PTC033442	BAKEBEST FOODS PRIVATE LIMITED	Director	25/02/2011	25/02/2011	-	Active	NO
11	U15209PB2011PLC034988	Cremica Milk Specialities Limited	Director	26/04/2011	26/04/2011	-	Active	NO
12	U25202DL2004PTC130233	K AND K FEAST MAKERS PRIVATE LIMITED	Additional director	23/03/2012	23/03/2012	-	Active	NO

Name :	Mr. Anoop Bector
Designation :	Managing Director
Address :	C-13, Sarabha Nagar, Ludhiana, Punjab, India
Date of Birth/Age :	05.10.1962
Qualification :	B. Com
Date of Appointment :	19.09.1995
DIN No.:	00108589

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	Company/ LLP Status	Defaulting status
1	L15146PB1989PLC009676	CREMICA AGRO FOODS LIMITED	Managing director	06/09/1989	06/09/1989	Active	NO
2	U15146PB1989PLC009675	BECTOR FOODS LTD	Director	20/05/1992	20/05/1992	Active	NO
3	U74899PB1995PLC033417	MRS.BECTORS FOOD SPECIALITIES LIMITED	Managing director	01/04/2010	19/09/1995	Active	NO
4	U15146PB1986PLC006994	CREMICA INDUSTRIES LTD	Whole-time director	30/06/2001	30/06/2001	Active	NO
5	U52201PB1992PLC012221	CREMICA FOODS LTD	Director	01/04/2007	01/04/2007	Active	NO
6	U15412PB2009PTC033442	BAKEBEST FOODS PRIVATE LIMITED	Director	25/02/2011	25/02/2011	Active	NO
7	U15209PB2011PLC034988	Cremica Milk Specialities Limited	Director	26/04/2011	26/04/2011	Active	NO

Name :	Mr. Parveen Kumar Goel
Designation :	Executive Director
Address :	230-A, Rishi Nagar, Ludhiana, Punjab, India
Date of Birth/Age :	21.08.1963
Date of Appointment :	01.05.2008
DIN No.:	00007297

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	U74899DL1991PTC042692	NUTEX INVESTMENTS PRIVATE LIMITED	Director	16/01/2006	16/01/2006	15/09/2008	Active	NO
2	U74899DL1969PTC005100	GREATWAY PVT LTD	Director	16/01/2006	16/01/2006	15/09/2008	Active	NO
3	U74899PB1995PLC033417	MRS.BECTORS FOOD SPECIALITIES LIMITED	Whole-time director	01/05/2008	01/05/2008	-	Active	NO
4	L15146PB1989PLC009676	CREMICA AGRO FOODS LIMITED	Additional director	01/12/2008	01/12/2008	14/01/2009	Active	NO
5	U15146PB1986PLC006994	CREMICA INDUSTRIES LTD	Director	28/09/2010	04/11/2009	-	Active	NO

Name :	Mr. Rakesh Sony
Designation :	Director
Address :	Flat No. 10, 2^nd Floor, Lotus Court, J. Tata Road, Churchagate, Mumbai, India
Date of Birth/Age :	02.01.1976
Date of Appointment :	30.09.2010
DIN No.:	00363053

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	U51909WB1995PLC072876	MICROSEC CAPITAL LIMITED	Managing director	02/04/2007	31/08/2002	07/10/2008	Active	NO
2	U67200WB2002PLC095275	MICROSEC INSURANCE BROKERS LIMITED	Director	09/10/2002	09/10/2002	07/10/2008	Active	NO
3	U74300WB2002PLC095393	MICROSEC TECHNOLOGIES LIMITED	Director	18/11/2002	18/11/2002	-	Amalgamated	NO
4	U74140WB1994PLC066386	MICROSEC COMMERZE LIMITED	Director	28/07/2003	28/07/2003	07/10/2008	Active	NO
5	L65993WB1989PLC047002	MICROSEC FINANCIAL SERVICES LIMITED	Director	27/09/2005	27/09/2005	07/10/2008	Active	NO
6	U51109WB1994PTC066509	MICROSEC RESOURCES PRIVATE LIMITED	Director	24/07/2006	24/07/2006	07/10/2008	Active	NO
7	U72200WB2002PLC094642	MICROSEC TECHNOLOGIES LIMITED	Director	15/09/2006	15/09/2006	07/10/2008	Active	NO
8	U74210WB2006PTC111951	SONY ADVISORY PRIVATE LIMITED	Director	27/11/2006	27/11/2006	19/10/2010	Active	YES
9	U74300MH2004PLC147649	EFFORT BPO LIMITED	Director	15/12/2008	15/12/2008	16/03/2011	Active	NO
10	U15204MH1992PTC070209	PARAG MILK FOODS PRIVATE LIMITED	Nominee director	30/09/2009	06/02/2009	-	Active	NO
11	U74140AP1999PLC032156	POWER MECH PROJECTS LIMITED	Director	15/09/2010	24/11/2009	-	Active	NO
12	L74899DL1992PLC050333	MINDA INDUSTRIES LIMITED	Director	24/12/2010	17/02/2010	-	Active	NO
13	U23201DL2001PLC111781	MINDA AUTOGAS LTD	Director	30/09/2010	17/02/2010	-	Amalgamated	NO
14	U34300DL2004PLC127423	MINDA ACOUSTIC LIMITED	Director	29/07/2010	17/02/2010	-	Amalgamated	NO
15	U74899PB1995PLC033417	MRS.BECTORS FOOD SPECIALITIES LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Arvind Kumar Bajoria
Designation :	Company Secretary
Address :	# 1301, Gali Kameti Wali, Moti Bazar, Katra Ahluwalia, Amritsar, Punjab, India
Date of Birth/Age :	21.06.1979
Date of Appointment :	22.09.2009

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2011)

Names of Shareholders	No. of Shares
Dharamvir Bector	75600
Akshay Bector	75000
Ajay Bector	75000
Anoop Bector	75000
Cremica Foods Limited, Ludhiana, Punjab	5850000
Bector Foods Limited, Ludhiana, Punjab	4470000
Cremica Industries Limited, Ludhiana, Punjab	10500000
Cremica Agro foods Limited, Ludhiana, Punjab	2001450
IL and FS Trust Company Limited, Bandra, Mumbai, Maharashtra	2341680
India Business Excellence Fund – I, Mauritius	4348860
TOTAL	29812590

(AS ON 29.09.2011)

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	14.60
Bodies corporate	84.40
Directors or relatives of directors	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Food Products including Biscuits, Confectionaries, Sauces etc.

Products :

ITC CODE	PRODUCT DESCRIPTION
19053100	Biscuits
21032000	Tomato ketchup
21039030	Mayonnaise
210690	Namkeen

· Confectioneries

· Sauces, Jams and Ketchups

· Indian Snacks

· Ready to Eat Food

· Condiments

· Frozen Products

· Bakery Products

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production*
Biscuits	MT	NA	NA
Bakery Products	MT	NA	NA
Sauces, Syrups and Spreads	Ltrs	NA	NA
Food Processing	MT	NA	NA
Namkeen	MT	NA	NA

Note:

*As certified by management the production of Bakery Products exclude production of Job work of NIL MT (previous year 10,555 MT). The production of Biscuits exclude production of Job work of 26,873 MT (Previous year 26,743 MT) Differences in quantitative tally are on account of breakages and damages.

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

• McDonald's
• Indian Army
• Indian Airlines
• Pizza Hut
• Domino's
• Reliance Retail Stores
• Jet Airways
• Indian Railways
• Subhiksha
• Barista Coffee Shops
• Cafe Coffee Day

No. of Employees :

400 (Approximately)

Bankers :

• State Bank Of India, Sales Hub Mid Corporate, Scb Miller Ganj, Ludhiana - 141003, Punjab, India
• Oriental Bank

Facilities :

Secured Loans	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
Rupee term loans	380.740	317.406
Working capital loans	562.867	608.930
Other debt	56.904	60.924
Total	1000.511	987.260
Unsecured Loans	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
From Director	29.268	9.661
From Other29.	2.488	0.746
Total	31.756	10.407

Banking Relations :	--
Auditors :
Name :	S. R. Batliboi and Company Chartered Accountants
Address :	Hindustan Time Building, 18-20, Kasturba Gandhi Marg, 6th Floor, New Delhi – 110001, India
PAN NO.:	AALFS0506L
Subsidiary Companies:	Shree Bankey Behari Rice Mills Limited, India CIN NO.: U15312DL2010PLC207538
Associates:	EBI Cremica Food Coatings Limited, India Bector Foods Limited, India CIN NO.: U15146PB1989PLC009675 Cremica Frozen Foods Limited, India Cremica Agro Foods Limited, India CIN NO.: L15146PB1989PLC009676 Cremica Industries Limited, India CIN NO.: U15146PB1986PLC006994 Cremica Foods Limited, India CIN NO.: U52201PB1992PLC012221 Cremica Food Specialities Limited, India CIN NO.: U23123PB1999PLC023123
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Sunshine Foods, India Hira Mal Lachhman Das Parlour, India Bakebest Foods Private Limited, India

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs.10/- each	Rs. 300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
29815290	Equity Shares	Rs.10/- each	Rs. 298.153 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		298.153	25.708	25.708
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		945.664	1153.524	1096.182
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1243.817	1179.232	1121.890
LOAN FUNDS
1] Secured Loans		1000.511	987.260	928.277
2] Unsecured Loans		31.756	10.407	27.833
TOTAL BORROWING		1032.267	997.667	956.110
DEFERRED TAX LIABILITIES		95.786	76.995	47.995
TOTAL		2371.870	2253.894	2125.995
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1572.216	1507.111	1268.125
Capital work-in-progress		33.188	19.591	308.327
INVESTMENT		4.778	4.268	3.706
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	419.578	415.219	349.843
	Sundry Debtors	447.765	326.981	297.730
	Cash & Bank Balances	86.498	122.667	100.794
	Other Current Assets	4.273	0.000	0.000
	Loans & Advances	317.724	315.150	265.171
Total Current Assets		1275.838	1180.017	1013.538
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	308.681	398.600	422.363
	Other Current Liabilities	184.237	46.978
	Provisions	21.232	11.515	45.338
Total Current Liabilities		514.150	457.093	467.701
Net Current Assets		761.688	722.924	545.837
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2371.870	2253.894	2125.995

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	4623.717	3598.827	3230.472
		Other Income	111.748	124.314	87.818
		TOTAL (A)	4735.465	3723.141	3318.290
Less	EXPENSES
		Consumption materials changes inventories	3227.948	2422.037
		Manufacturing service costs	510.175	464.736
		Employee related expenses	354.641	296.718	3110.605
		Administrative selling other expenses	292.798	255.822
		TOTAL (B)	4385.562	3439.313	3110.605
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		349.903	283.828	207.685
Less	FINANCIAL EXPENSES (D)		96.424	95.612	76.282
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		253.479	188.216	131.403
Less/ Add	DEPRECIATION/ AMORTISATION (F)		109.910	83.682	62.980
Less	PRIOR PERIOD ITEMS BEFORE TAX		27.568	6.151	2.214
	PROFIT BEFORE TAX (E-F) (G)		116.001	98.383	66.209
Less	TAX (H)		44.486	39.244	29.110
	PROFIT AFTER TAX (G-H) (I)		71.515	59.139	37.099
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		261.314	208.408	172.211
Less	APPROPRIATIONS
		Transfer to General Reserve		1.542	0.000
		Proposed Final Dividend	6.930	0.256	0.771
		Tax on Dividend		4.435	0.131
	BALANCE CARRIED TO THE B/S		325.899	261.314	208.408
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	823.988	637.956	738.395
	TOTAL EARNINGS		823.988	637.956	738.395
	IMPORTS
		Raw Materials		116.754	13.729
		Stores & Spares	160.735	1.568	0.387
		Capital Goods		4.860	34.892
	TOTAL IMPORTS		160.735	123.182	49.008
	Earnings Per Share (Rs.)		5.75	79.54	37.33

Particulars	31.03.2012
Sales Turnover (Approximately)	4000.000

Expected Sales (2012-2013) : Rs. 4100.000 Millions

The above information has been parted by Mr. Praveen Goel

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.51	1.59	1.12
Net Profit Margin (PBT/Sales)	(%)	2.51	2.73	2.05
Return on Total Assets (PBT/Total Assets}	(%)	4.07	3.66	2.90
Return on Investment (ROI) (PBT/Networth)		0.09	0.08	0.06
Debt Equity Ratio (Total Liability/Networth)		1.32	1.30	1.80
Current Ratio (Current Asset/Current Liability)		2.48	2.34	2.16

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	------------
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	-----------
Litigations that the firm/ Promoters Involved in	-----------
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----------
Buyer visit details	-----------
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

OPERATIONS AND OVERALL PERFORMANCE:

The company could post a significant increase of about 27 % in the turnover from Rs. 3723.141 Millions in the year 2009-10 to Rs. 4735.465 Millions in the year 2010-11. The Company has focused on the Export Markets and has been able to post an impressive growth of nearly 29 % in Exports.

The company has undertaken capacity expansion in Biscuit division at Phillaur and added a new Fourth line of Biscuit Production during the financial year 2010 - 11. Other projects are being implemented by the Company for the expansion of manufacturing facilities. Also, the Company has entered into agreement with Kraft Foods for manufacturing high quality biscuits for them, which will give a new boost to the business of the Company

FORMATION OF SUBSIDIARY COMPANIES:

During 2010 - 11, a subsidiary company was formed with the name of ‘ Shree Bankey Behari Rice Mills Limited’ having registered office at Delhi, for setting up a food processing project, in which 51 % shareholding was held by the Company. Company had transferred its leasehold rights in the land allotted to it in Food Park, Rai, Distt. Sonepat, subject to the approval of HSIIDC, and the approval is still awaited. In April, 2011 another wholly owned subsidiary was formed with the name of ‘Cremica Milk Specialities Limited’ having registered office at Ludhiana for setting up a dairy project.

FORM 8

Corporate identity number of the company	U74899PB1995PLC033417
Name of the company	MRS. BECTORS FOODS SPECIALITIES LIMITED
Address of the registered office or of the principal place of business in India of the company	Theing Road, Phillaur, Jalandhar 144410, Punjab, India
This form is for	Modification of charge
Charge identification number of the modified	10067480
Type of charge	Immovable property Book debts Movable property (not being pledge) Others
Particular of charge holder	State Bank Of India, Sales Hub Mid Corporate, SCB Miller Ganj, Ludhiana - 141003, Punjab, India Email: info@sbi.com
Nature of instrument creating charge	Supplemental Agreement of loan for increase in overall limit of RS. 948.300 Millions Dated 28.12.2011.
Date of instrument Creating the charge	28.12.2011
Amount secured by the charge	Rs. 948.300 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest WC ROI @ 3.50% above BR per 13.50%. EF as per SBI exporter gold card scheme. TL-I,II,III, IV - 4 % above BR, per @14% P.A., C/L 1 - 4 % above BR, per @14% P.A TL-V - 3.50%, above BR, per @13.50%. Terms of repayment TL- I, II, III, IV - as per existing agreement. TL-V - the proposed TL of Rs. 250.000 Millions will be repaid in 24 quarterly installment starting from June 2012 as under. 1ST 8 quarterly installment Rs. 7.500 Millions Next 15 quarterly installment Rs. 12.000 Millions. Last quarterly installment Rs. 10.000 Millions Corporate loan :- as per existing arrangement . Margin RM, SIP, FG 25% EPC 15% Receivables (Cover Period 90 Days) 40% L/C ILC/FLC (Sight /Usance)- max. usance of 90 Days)15% Bank Guarantee 15% Term Loan 24.24% One Time ILC/FLC 24.24%. Extent and operation of the charge 100%
Short particulars of the property charged (Including location of the property)	Primary security - first charge on current assets Collateral security - free hold and lease hold lands
Particulars of the present modification	By this modification the overall limit has been increased from Rs. 794.000 Millions (present outstanding Rs. 705.800 Millions) to Rs. 948.300 Millions with effect from 28.12.2011

CONTINGENT LIABILITIES NOT PROVIDED FOR: -

PARTICULARS	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
I) Disputed Liabilities not adjusted as expense in various year being in appeal.
a) Demand against deduction disallowed by Income tax authorities u/s 80IB and other expenses for the assessment year 2006-07	4.560	4.560
b) Income Tax Demand for AY 2007-08 on certain disallowances. The Company has time beyond the even date to file an appeal to the Income Tax Appellate Tribunal, which it intends to.	0.475	5.737
c) Demand for Market Fees by Market Committee, Ludhiana under The Punjab Agricultural Market Produce Act	--	33.535
II) Guarantees given by the Company
a) Guarantees given to World Food Programme as a performance Guarantee	5.000	--
b) Guarantees given to Sales Tax Authorities	0.058	--
c) Guarantee given by the Company to Banks for loans availed by Cremica Industries Limited.	20.000	15.000
III) Contingent Liability for pending C and F Forms	51.011	45.796

FIXED ASSETS:

· Land Freehold

· Land Leasehold

· Buildings

· Plant and Machinery

· Furniture and Fixtures

· Vehicles

· Computer

WEBSITE DETIALS:

PROFILE:

They avail yummy biscuits, finger licking Indian curries, mouth watering sauces and jams and many more food products with amazing tastes, so that you can pamper the taste senses. They, subject are one of the largest food processing companies in India engaged in the industry since 1982 as a prominent manufacturer and exporter of a wide range of food products including Biscuits, Confectionaries, Sauces, Jams and Ketchups, Indian Snacks, Ready to Eat Food, Condiments, Frozen Products and Bakery Products.

Their flair for preparing endearing recipes, made with love and extreme care, brings amazing tastes of their products to the fore. They are sought after by the consumers of all age groups in the global market including Africa, Australia, Canada, U.S.A. and U.K. Every ingredient, every process is thoroughly checked by the experts in their plants to deliver the best food products. And that is the repute; they live by - Complete Excellence. All their manufacturing units are H.A.C.C.P. certified from S.G.S. and D.N.V., while their biscuits are certified under National Standards of Bureau IS: 1011BIS. They are committed to their standards of hygiene, excellence in taste and expansion of their range of products.

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. 55.03
UK Pound	1	Rs. 85.93
Euro	1	Rs. 68.97

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	ACH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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

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

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

RATING EXPLANATIONS

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

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

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