MIRA INFORM REPORT

Report Date :

13.03.2012

IDENTIFICATION DETAILS

Name :	ANANT COMMODITIES PRIVATE LIMITED
Registered Office :	211, Shri Vardhan 4-RNT Marg, Indore - 452001, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.08.2002
Com. Reg. No.:	10-015203
Capital Investment / Paid-up Capital :	Rs.9.671 Millions
CIN No.: [Company Identification No.]	U15143MP2002PTC015203
TAN No.: [Tax Deduction & Collection Account No.]	BALA0323F
PAN No.: [Permanent Account No.]	AAGCS8795K
Legal Form :	Private Limited Liability Company
Line of Business :	Merchant Trader of Soya Bean Meal, Indian Maize, Rice Bran, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 320000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track records. 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

LOCATIONS

Registered Office :	211, Shri Vardhan 4-RNT Marg, Indore – 452001, Madhya Pradesh, India
Tel. No.:	91-731-2527843
Fax No.:	91-731-2515052
E-Mail :	akmcafiling@gmail.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Rajesh Jain

Designation :

Director

Address :

66,Mishra Nagar, Indore, Madhya Pradesh, India

Date of Birth/Age :

02.08.1969

Date of Appointment :

18.10.2004

DIN No.:

01270956

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	U15143MP2002PTC015203	ANANT COMMODITIES PRIVATE LIMITED	Director	18/10/2004	18/10/2004	-	Active	NO
2	U04010MP1999PTC013694	CASSANDRA REALTY PRIVATE LIMITED	Additional director	30/04/2011	30/04/2011	-	Active	NO
3	U51102MP2006PTC018969	MANIKARAN COMMERCIALS PRIVATE LIMITED	Additional director	26/07/2011	26/07/2011	-	Active	NO

Name :

Mr. Harshit Porwal

Designation :

Director

Address :

139 Tilak Path, Indore, Madhya Pradesh, India

Date of Birth/Age :

04.05.1987

Date of Appointment :

30.09.2011

DIN No.:

03570869

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	U15492MH1995PTC089679	NAVLAKHA AGREX PRIVATE LIMITED	Director	30/09/2011	22/09/2011	-	Active	NO
2	U15143MP2002PTC015203	ANANT COMMODITIES PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Shankarlal Jain	60960
S. P. Sharda	70000
Ranjna Jain	52960
Shri Sharad Jain	52960
Surendra Jain	52960
Vijesh Jain	52960
Yamini Vyas	105760
Annapurna Vaid	52960
Rajesh Jain	225600
Olympus Vision Private Limited, India	240000
Total	967120

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	24.82
Directors or relatives of Directors	28.80
Other top fifty shareholders	46.38
Total	100.00

BUSINESS DETAILS

Line of Business :

Merchant Trader of Soya Bean Meal, Indian Maize, Rice Bran, etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Bank of Baroda, Navlakha Branch, Indore – 452001, Madhya Pradesh, India

· State Bank of India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working capital loans banks secured	219.182	169.599
Total	219.182	169.599
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working capital loans unsecured	18.638	0.000
Total	18.638	0.000

Banking Relations :	--
Auditors :
Name :	Ashok Khasgiwala and Company Chartered Accountants
Address :	317, Chetak Centre "Annex", 12/2, RNT Marg, Indore – 452001, Madhya Pradesh, India
PAN.:	AACFA7732P

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
967120	Equity Shares	Rs.10/- each	Rs.9.671 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		9.671	9.671	6.044
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		70.349	60.495	59.137
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		80.020	70.166	65.181
LOAN FUNDS
1] Secured Loans		219.182	169.599	13.260
2] Unsecured Loans		18.638	0.000	0.000
TOTAL BORROWING		237.820	169.599	13.260
DEFERRED TAX LIABILITIES		0.000	0.065	0.016
TOTAL		317.840	239.830	78.457
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.065	6.107	1.550
Capital work-in-progress		0.825	0.000	0.000
INVESTMENT		0.000	4.400	1.900
DEFERREX TAX ASSETS		0.094	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	309.423	200.264	49.719
	Sundry Debtors	45.558	34.006	80.808
	Cash & Bank Balances	6.722	10.285	10.621
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	99.516	38.407	71.537
Total Current Assets		461.219	282.962	212.685
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	120.447	30.723	116.729
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	28.916	22.916	20.949
Total Current Liabilities		149.363	53.639	137.678
Net Current Assets		311.856	229.323	75.007
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		317.840	239.830	78.457

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	192.473	770.783	1301.224
		Other Income	1844.793	4.037	15.054
		TOTAL (A)	2037.266	774.820	1316.278
Less	EXPENSES
		Materials Purchased		836.449	1151.139
		Increase/(Decrease) in Finished Goods		(150.544)	(28.770)
		Other Expenditure		67.110	100.629
		TOTAL (B)		753.015	1280.538
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2021.572	21.805	35.740
			(including financial expenses and depreciation)
Less	FINANCIAL EXPENSES (D)			14.420	7.626
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			7.385	28.114
Less/ Add	DEPRECIATION/ AMORTISATION (F)			0.182	0.178
	PROFIT BEFORE TAX (E-F) (G)		15.694	7.203	27.936
Less	TAX (H)		5.840	2.219	9.645
	PROFIT AFTER TAX (G-H) (I)		9.854	4.984	18.291
	BALANCE CARRIED TO THE B/S		NA	4.984	18.291
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	NA	566.188	1060.113
	TOTAL EARNINGS		NA	566.188	1060.113
	Earnings Per Share (Rs.)		10.19	5.15	30.26

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.48	0.64	1.39
Net Profit Margin (PBT/Sales)	(%)	8.15	0.93	2.15
Return on Total Assets (PBT/Total Assets}	(%)	3.37	2.49	13.04
Return on Investment (ROI) (PBT/Networth)		0.19	0.10	0.43
Debt Equity Ratio (Total Liability/Networth)		4.84	3.18	2.32
Current Ratio (Current Asset/Current Liability)		3.09	5.28	1.54

LOCAL AGENCY FURTHER INFORMATION

BUSINESS REVIEW:

During the year the Company has achieved a Sales of Rs.192.473 Millions as against Rs. 770.783 Millions in the preceding year and the Company earned the profit before tax of Rs.15.694 Millions as against 7.203 Millions in the preceding year. The performance of the Company is quite satisfactory.

Bankers Charges Report as per Registry

Corporate identity number of the company	U15143MP2002PTC015203
Name of the company	ANANT COMMODITIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	211, Shri Vardhan, 4-RNT Marg, Indore – 452001, Madhya Pradesh, India Email : akmcafiling@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10263487
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	Bank of Baroda, Navlakha Branch, Indore – 452001, Madhya Pradesh, India Email : navlak@bankofindia.co.in
Nature of instrument creating charge	1. D.P. note (LDOC 4) 2. Letter of continuing security (LDOC 7) 3. Composite hypothecation agreement (LDOC-17(C))
Date of instrument Creating the charge	01.12.2011
Amount secured by the charge	Rs.402.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest EPC Limit @ 1.25% above base rate Cash Credit within EPC @ 3.50% above base rate FBP/ FBD within EPC @ 1.25% above base rate Bank guarantee as per the bank norms Terms of repayment As on demand Margin EPC limit - 10% Cash credit within EPC: hypothecation of stocks - 25% and book debts - 30%. FBP/ FBD within EPC - 10% with and without LC Bank guarantee - 10% Forward contract/derivatives : 2% of the contract value Extent and operation of the charge Charge is created by way of hypothecation of raw materials, stock-in-process, finished goods and all the book debts, movable plant and machinery, consumable stores and spares, both present and future. Mortgage over the immovable properties situated at Plot No. 8, Jhabua House, M.H. No. 170, R.N.T. Marg, Indore, Madhya Pradesh, India Others Guarantee given by the Shri Vinod Kumar Jain, Shri Harshit Porwal And Shri Rajesh Jain. corporate guarantee given by the Olympus Vision Private Limited and Excel Futures Private Limited
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitable mortgage over the immovable properties situated at Plot No. 8, Jhabua House, M.H. No. 170, R.N.T. Marg, Indore, Madhya Pradesh, India
Date of instrument modifying the charge	10.01.2011
Particulars of the present modification	Existing Limit is : EPC facility : Rs.350.000 Millions Cash credit within EPC : (Rs.100.000 Millions) FBP/FBD Within EP : (Rs.350.000 Millions) Derivative : Rs.50.000 Millions Bank guarantee : Rs.2.500 Millions

FIXED ASSETS

• Land
• Computer
• Office Equipments
• Vehicles (Car)

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] 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.49.94
UK Pound	1	Rs.78.25
Euro	1	Rs.65.40

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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

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

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

RATING EXPLANATIONS

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

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

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