MIRA INFORM REPORT

Report Date :

20.04.2013

IDENTIFICATION DETAILS

Name :	R. P. BASMATI RICE LIMITED
Registered Office :	G. T. Road, Near Namastey Chowk, Madanpur, Karnal – 132001, Haryana, India
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	31.08.2001
Com. Reg. No.:	05-034739
Capital Investment / Paid-up Capital :	Rs. 26.562 Million
CIN No.: [Company Identification No.]	U15312HR2001PLC034739
PAN No.: [Permanent Account No.]	AAECR1217R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Rice, Spices, Pickles, Pulses, Guar Gum etc.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 2400000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears huge external borrowing recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Cash Credit BB (Suspended)
Rating Explanation	Moderate risk of default
Date	March 8, 2013

Rating Agency Name	CRISIL
Rating	Term Loan A4+ (Suspended)
Rating Explanation	Minimal degree of safety. It carry very high credit risk.
Date	March 8, 2013

Reason - Reason for suspended is not available

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 PARTED BY

Name :	Mr. Mukesh
Designation :	Accountant
Contact No.:	91-184-2002257
Date :	06.04.2013

LOCATIONS

Registered Office :	G. T. Road, Near Namastey Chowk, Madanpur, Karnal – 132001, Haryana, India
Tel. No.:	91-184-2002257/56
Mobile No.:	91-9416034661 (Mr. Anuj)
Fax No.:	91-184-2220235
E-Mail :	sales@rpmail.in vineygole@rediffmail.com sales@rpbasmati.com Mittal84@rediffmail.com rpbasmati@hotmail.com thermotronrf8@hotmail.com
Website :	http://www.basmatiriceindia.in
Factory :	Near to N.H. 1, Karnal, Haryana, India

DIRECTORS

As on: 28.09.2012

Name :	Mr. Bharat Singhal
Designation :	Director
Address :	361, Dewan Colony, Karnal-132001, Haryana, India
Date of Birth/Age :	22.10.1971
Qualification :	B.E.
Date of Appointment :	02.09.2011
DIN No.:	00737759
Name :	Mr. Anuj Singhal
Designation :	Director
Address :	361, Dewan Colony, Karnal-132001, Haryana, India
Date of Birth/Age :	16.07.1975
Qualification :	B. Com.
Date of Appointment :	02.09.2011
DIN No.:	00737684
Name :	Mr. Raj Pal Singhal
Designation :	Director
Address :	361, Dewan Colony, Karnal-132001, Haryana, India
Date of Birth/Age :	14.01.1946
Qualification :	B.A., L.L.B.
Date of Appointment :	02.09.2011
DIN No.:	00737740
Name :	Mrs. Sumitra Singhal
Designation :	Director
Address :	361, Dewan Colony, Karnal-132001, Haryana, India
Date of Birth/Age :	1.11.1951
Qualification :	S.S.C.
Date of Appointment :	31.08.2001
DIN No.:	00737655

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.09.2012

Names of Shareholders	No. of Shares
Mr. Raj Pal Singhal	591500
Mr. Bharat Singhal	153500
Mrs. Anuj Singhal	187500
Mrs. Sumitra Singhal	446400
Mrs. Mamta Singhal	264000
Mrs. Monika Singhal	292130
Bharat Hospital Limited	716750
Mr. Rajiv Singhal	2500
Mrs. Nidhi Singhal	2000
Total	2656280

Equity Share Break up (Percentage of Total Equity)

As on: 28.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of rice, spices, pickles, pulses, guar gum etc.
Products :	· Rice Varieties · Spices · Guar gums
Brand Names :	Mulberry Namaste Jee Olympus Marhabtain Sunar Bangle Salam Namastey Biryani Rice Classic Rice Long Grain Magic Rice Kabhi Kabhi Rp Ric Nazma Al Malik Al Baraa Al Sanawbar Al Dorah
Exports :
Products :	Rice
Countries :	· France · Saudi Arabia · Kuwati · Doha
Selling :	L/C and Advance 50%
Purchasing :	L/C and Advance 50%

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production In Qtls.
Rice	M.T.	NA	16 Ton Per Hour	676469.69
Spice	Kgs.	NA	200 Kg. Per Hour	Nil

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

200 (Approximately)

Bankers :

State Bank Of India, Specialised Commercial Branch, Ambedkar Chowk, Karnal – 132001, Haryana India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Rupee Term Loan From Banks	27.103	36.669
Working Capital Loans From Banks	1240.607	856.999
Total	1267.71	893.668

Banking Relations :	--
Auditors :
Name :	Viney Goel and Associates Chartered Accountants
Address :	B-2, Purshottam Garden, Kunjpura Road, Karnal – 132001 Haryan, India
PAN No.:	AACFV7215L
Sister Concern :
	Name : Sheeba International Address : Village Kambopura, G. T. Road, Karnal, Haryana, India Activity : Trading of Rice, Pickles · Sheeba International, Haryana · Ask Electronics, Haryana · Baaz Overseas, Haryana · Ask Technology · Raj Pal Bharat Kumar

CAPITAL STRUCTURE

After As on: 28.09.2012

Authorised Capital : Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 28.162 Millions

As on: 28.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2656280	Equity Shares	Rs.10/- each	Rs. 26.562 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		26.562	24.559	21.221
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		586.704	456.101	297.097
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		613.266	480.660	318.318
LOAN FUNDS
1] Secured Loans		1267.711	893.669	724.503
2] Unsecured Loans		132.052	131.269	130.434
TOTAL BORROWING		1399.763	1024.938	854.937
DEFERRED TAX LIABILITIES		5.536	5.953	4.636
TOTAL		2018.565	1511.551	1177.891
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		277.720	253.751	164.051
Capital work-in-progress		6.100	5.554	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1645.140	1202.140	880.010
	Trade Receivable	276.113	327.781	386.076
	Cash & Bank Balances	16.203	15.443	15.860
	Other Current Assets	0.031	0.000	0.000
	Loans & Advances	26.166	28.602	22.089
Total Current Assets		1963.653	1573.966	1304.035
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	174.747	267.030	226.349
	Other Current Liabilities	48.501	54.690	0.000
	Provisions	5.660	0.000	63.846
Total Current Liabilities		228.908	321.720	290.195
Net Current Assets		1734.745	1252.246	1013.840
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2018.565	1511.551	1177.891

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	3344.489	2749.412	2134.986
		Other Income	11.460	13.171	9.220
		TOTAL (A)	3355.949	2762.583	2144.206
Less	EXPENSES
		Cost Of Material Consumed	3154.471	2528.366
		Purchases of Stock-in-trade	89.584	99.004
		Employee benefit Expenses	9.384	8.338
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(411.386)	(252.870)
		Other Expenses	243.283	222.233
		TOTAL (B)	3085.336	2605.071	2029.301
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		270.613	157.512	114.905
Less	FINANCIAL EXPENSES (D)		196.760	95.113	67.712
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		73.853	62.399	47.193
Less/ Add	DEPRECIATION/ AMORTISATION (F)		22.508	19.004	12.486
	PROFIT BEFORE TAX (E-F) (G)		51.345	43.395	34.707
Less	TAX (H)		18.921	14.555	8.869
	PROFIT AFTER TAX (G-H) (I)		32.424	28.840	25.838
	Earnings Per Share (Rs.)		13.20	13.59	13.36

Particulars	31.03.2013
Sales Turnover (Approximately)	4500.000

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.97	1.04	1.20
Net Profit Margin (PBT/Sales)	(%)	1.53	1.58	1.62
Return on Total Assets (PBT/Total Assets}	(%)	2.29	2.37	2.36
Return on Investment (ROI) (PBT/Networth)		0.08	0.09	0.10
Debt Equity Ratio (Total Debt/Networth)		2.28	2.13	2.68
Current Ratio (Current Asset/Current Liability)		8.58	4.89	4.49

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	--
8]	No. of employees	Yes
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	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

(Rs. In Millions)

Particular	As on 31.03.2012	As on 31.03.2011
Loans and Advance From Related Parties	132.052	131.269
Total	132.052	131.269

Fixed Assets:

· Land

· Machinery

· Building

· Furniture and Fixtures

· Scooter

· Mosturo Teeter

· Weighing Machine

· Car

· Motor Cycle

· Computer

· Tirpal

· Timber Carat

· Lab Equipments

· Photostate Machine

· Effluent Treatment

· Office Equipment

· Fire Fighting System

· Air Conditioner

· Sewing Machine

· Telephone Equipments

· Gen Set

· Tractor

· Tubewell

· Electric Equipments

· Cycle

· Electric panal

· Tata ace

· Transformer

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. 54.03
UK Pound	1	Rs. 82.43
Euro	1	Rs. 70.49

INFORMATION DETAILS

Information Gathered by :	NYN
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		35

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.