MIRA INFORM REPORT

Report Date :

16.04.2013

IDENTIFICATION DETAILS

Name :	KDD (INDIA) PRIVATE LIMITED
Registered Office :	Regus Suburb Centre Private Limited, Level 4, Dynasty- Business Park, A Wing, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	17.12.2008
Com. Reg. No.:	11-188965
Capital Investment / Paid-up Capital :	Rs.160.000 Millions
CIN No.: [Company Identification No.]	U15209MH2008FTC188965
PAN No.: [Permanent Account No.]	AADCK5691B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Distributor of Food and Beverage Products.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ca (18)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. There appears huge accumulated losses recorded by the company. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a safe and secured 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.

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

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION DENIED BY

Name :	Mr. Chetan Sirija
Designation :	Finance Department
Contact No.:	91-80-67726900
Date :	15.04.2013

LOCATIONS

Registered Office :	Regus Suburb Centre Private Limited, Level 4, Dynasty- Business Park, A Wing, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-40309264/ 42213200/ 42213999
Fax No.:	91-22-40309199/ 40153009
E-Mail :	vsubra@kddc.com insupport@kddc.co.in inlab@kddc.co.in insales@kddc.co.in inmarketing@kddc.co.in inproduction@kddc.co.in inpurchase@kddc.co.in
Website :	http://www.kddc.co.in
Administrative Office :	Office Nos. 1001 to 1010, 10th Floor “C” Wing, Mittal Towers, New No.21 (Old No. 6/47), Mahatma Gandhi Road, Bangalore - 560001, Karnataka, India
Tel. No.:	91-80-67726900
Fax No.:	91-80-67726907
Factory :	Baramati, Maharashtra, India

DIRECTORS

As on: 22.06.2012

Name :	Subramanian Venkitakrishnan Venganellore
Designation :	Director
Address :	Apartment 12, Building 20207, Yosuf AL Badr Street, Block 10, Kuwait, UAE
Date of Birth/Age :	18.05.1970
Date of Appointment :	17.12.2008
DIN No.:	02321421
Name :	Bahia E M Jaafar
Designation :	Director
Address :	Sharq, Area 1, Sour Street, Villa No.39, Sharq, Kuwait, UAE
Date of Birth/Age :	03.08.1965
Date of Appointment :	17.12.2008
DIN No.:	02321443
Name :	Mr. Mohammad E M Jaafar
Designation :	Director
Address :	Sharq, Area 1, Sour Street, Villa No.39, Sharq, Kuwait, UAE
Date of Birth/Age :	20.06.1964
Date of Appointment :	17.12.2008
DIN No.:	02321480

KEY EXECUTIVES

Name :	Mr. Pradeep Kumar Gunderao
Designation :	Secretary
Address :	No. 782, Saptagiri Nivas, Ideal Homes Township, Raja Rajeshwari Nagar, Bangalore – 560098, Karnataka, India
Date of Birth/Age :	20.06.1977
Date of Appointment :	01.03.2012
PAN No.:	AHMPG1932E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 22.06.2012

Names of Shareholders	No. of Shares
The Kuwaiti Danish Dairy Company, KCDC, Kuwait	28995000
Sabhan United General Trading and Contracting Company WLL, Kuwait	5000
Total	29000000

Equity Share Break up (Percentage of Total Equity)

As on: 22.06.2012

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Distributor of Food and Beverage Products.

Products :

Product Description	ITC Code
Fruit Juices	20089999

GENERAL INFORMATION

No. of Employees :	Information declined by the management
Bankers :	State Bank of India

Banking Relations :	--
Auditors :
Name :	ASL and Company Chartered Accountants
Address :	Ganesh Apartments, Agarkar Chowk, Police Lines Andheri (East), Mumbai – 400069, Maharashtra, India
PAN No.:	AAAFC1257B
Holding Company :	The Kuwaiti Danish Dairy Company, KCSC

CAPITAL STRUCTURE

As on: 22.06.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
29000000	Equity Shares	Rs.10/- each	Rs.290.000 Millions

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16000000	Equity Shares	Rs.10/- each	Rs.160.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		160.000	140.000	20.000
2] Share Application Money		80.000	0.000	60.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(181.419)	(86.431)	(19.593)
NETWORTH		58.581	53.569	60.407
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.229	0.137	0.037
TOTAL		58.810	53.706	60.444
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.326	1.199	0.286
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.588	3.331	2.131
	Sundry Debtors	39.751	63.834	0.112
	Cash & Bank Balances	22.539	28.888	60.679
	Other Current Assets	21.579	6.822	0.387
	Loans & Advances	14.003	17.215	0.965
Total Current Assets		105.460	120.090	64.274
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	29.921	56.437	8.864
	Other Current Liabilities	15.642	8.462	1.695
	Provisions	3.413	2.684	0.273
Total Current Liabilities		48.976	67.583	10.832
Net Current Assets		56.484	52.507	53.442
MISCELLANEOUS EXPENSES		0.000	0.000	6.716
TOTAL		58.810	53.706	60.444

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	107.258	115.767	6.384
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	201.935	182.396	25.916
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(94.677)	(66.629)	(19.532)
Less/ Add	DEPRECIATION/ AMORTISATION		0.218	0.109	0.024
	PROFIT/ (LOSS) BEFORE TAX		(94.895)	(66.738)	(19.556)
Less	TAX		0.092	0.101	0.037
	PROFIT/ (LOSS) AFTER TAX		(94.987)	(66.839)	(19.593)
	Earnings(Loss) Per Share (Rs.)		(5.94)	NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(88.56)	(57.74)	(306.91)
Return on Total Assets (PBT/Total Assets}	(%)	(88.04)	(55.02)	(30.29)
Return on Investment (ROI) (PBT/Networth)		(1.62)	(1.25)	(0.32)
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.15	1.78	5.93

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

(Rs. In Millions)

Particulars	31.03.2012	31.03.2011	31.03.2010
Sundry Creditors	29.921	56.437	8.864
Total	29.921	56.437	8.864

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
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	No

FIXED ASSETS

Tangible Assets

• Furniture and Fixtures
• Office Equipment
• Computer Equipments

AS PER WEBSITE DETAILS

Press Release

MEDIACOM WINS DUTIES FOR KDD INDIA

January 13, 2012

MediaCom has won the media duties of KDD (India) following a multi-agency pitch.The business will be managed out of MediaCom’s Bangalore office. KDD India is a part of KDD Kuwait, which is a manufacturer and distributor of food and beverage products in the Arabian Gulf.

Commenting on the account win, Anita Devraj Mookerjee, general manager, MediaCom Bangalore said, “It was a very competitive playing field and our innovative and differentiated thinking set us apart. We believe our product offering will add value to KDD (India) Private Limited’s business and our knowledge in the category will be further enriched by working with KDD India."

Based in Kuwait, KDD is a closed shareholding company. The company's products are famous for their quality and have about 160 unique products falling into the dairy, juice, ice cream, and culinary categories. They are sold across the Gulf and the Levant.

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 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.54.63
UK Pound	1	Rs.83.70
Euro	1	Rs.71.42

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		18

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	-

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