MIRA INFORM REPORT

Report Date :

27.04.2013

IDENTIFICATION DETAILS

Name :	AMRIT REFINED PRIVATE LIMITED
Registered Office :	Dhanmandi, Mandsaur – 458002, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	13.12.2007
Com. Reg. No.:	10-020102
Capital Investment / Paid-up Capital :	Rs.3.670 Millions
CIN No.: [Company Identification No.]	U15143MP2007PTC020102
TAN No.: [Tax Deduction & Collection Account No.]	BPLA04380F
PAN No.: [Permanent Account No.]	AASCA7983F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter, Importer, Processor, Refined, Explorer of all the kinds of Edible Oils, Including but not limited to Groundnut Oil, Soyabean Oil, Vanaspati Oil, Pamolin Oil and Otherwise to Deal in all kinds of Edible Oil Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 110000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The profit and loss statement for the year 2012 is not available. As per available financials, the profitability of the company appeared to be low. However, trade relations are reported as fair. Business is active. Payment terms are unknown. 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

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.

LOCATIONS

Registered Office :	Dhanmandi, Mandsaur – 458002, Madhya Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	akmcafiling@gmail.com vinay_ag@hotmail.com
Factory:	Delhi-Bombay By Pass Road, Mandsur – 458001, Madhya Pradesh, India
Tel No.:	91-7422-284036/ 325321
Fax No.:	91-7422-234661
E-Mail :	amrit_1000@rediffmail.com

DIRECTORS

As on: 29.09.2012

Name :	Mrs. Seema Yogesh Garg
Designation :	Managing Director
Address :	Ram Mohalla, Dhanmadi, Madhya Pradesh, India
Date of Birth/Age :	25.10.1975
Date of Appointment :	13.12.2007
DIN No.:	01833439
Name :	Mr. Prahalad Garg
Designation :	Director
Address :	Dhanmandi, Mandsaur - 458002, Madhya Pradesh, India
Date of Birth/Age :	05.09.1969
Date of Appointment :	07.01.2008
DIN No.:	01763338

KEY EXECUTIVES

Name :	Mr. Ashish Karodia
Designation :	Company Secretary
Address :	208,Trade House, 14/3, South Tukoganj, Indore Madhya Pradesh, India
Qualification :	M.Com., LL.B, F.C.S.
Mobile No.:	91-9826114533
E-mail :	ashishkarodia@yahoo.co.in

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Seema Garg	78300
Prahlad Garg	25000
Abhay Kumar Ajmera	1780
Manohar Garg	13570
Minakshi, Mandsaur	10800
Preeti	11580
Direndra Soni	1500
Punit Gupta	1500
Jitensra Sharma	2000
Dilip Jayswl	1500
Suresh Jawad	1500
Nawsad Multani	1000
Vijay Paliwal	1000
Jayant Securities and Financial Limited, India	53000
K.K. Patel Financial Limited, India	41000
Trimurti Financial Limited, India	22000
Purvi Finvest Limited, India	55000
Trimurthi Finvest Private Limited, India	15000
East West Finvest India Limited, India	30000
Total	367030

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Bodies corporate	58.85
Directors or relatives of directors	34.99
Other top fifty shareholders	6.16
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter, Importer, Processor, Refined, Explorer of all the kinds of Edible Oils, Including but not limited to Groundnut Oil, Soyabean Oil, Vanaspati Oil, Pamolin Oil and Otherwise to Deal in all kinds of Edible Oil Products.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Axis Bank Limited, Greater Kailash, Civil Hospital Road, Mandsaur – 458001, Madhya Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011
Rupee Loan
From Bank	9.336
Total	9.336

Banking Relations :	--
Auditors :
Name :	Vinay Babulal Agarwal and Company Chartered Accountants
Address :	4/7, Gautam Nagar, Opposite Swadhyay Bhawan, Maudsaur – 458002, Madhya Pradesh, India
Tel. No.:	91-7422-243257/ 408882
E-Mail :	vinay_ag@hotmail.com
PAN No.:	ACSPA2965Q
Other Related Parties (As on 31.03.2011) :	· Annpurna Sales Corporation, Mandsaur · Bajrang Oil Industries, Mandsaur

CAPITAL STRUCTURE

As on: 29.09.2012

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
367030	Equity Shares	Rs.10/- each	Rs.3.670 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		3.670	3.670	2.670
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		25.940	25.503	16.126
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		29.610	29.173	18.796
LOAN FUNDS
1] Secured Loans			9.336	11.936
2] Unsecured Loans			0.000	0.000
TOTAL BORROWING		43.268	9.336	11.936
DEFERRED TAX LIABILITIES		0.286	0.262	0.243
TOTAL		73.164	38.771	30.975
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		16.835	18.583	19.636
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	25.635	30.077	16.791
	Sundry Debtors	39.893	7.725	17.213
	Cash & Bank Balances	0.970	0.505	1.067
	Other Current Assets	4.842	3.308	6.862
	Loans & Advances	27.598	7.648	0.076
Total Current Assets		98.938	49.263	42.009
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	33.539	28.078	29.685
	Other Current Liabilities	8.765	0.000	0.000
	Provisions	0.305	1.116	1.033
Total Current Liabilities		42.609	29.194	30.718
Net Current Assets		56.329	20.069	11.291
MISCELLANEOUS EXPENSES		0.000	0.119	0.048
TOTAL		73.164	38.771	30.975

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	583.577	341.336
		Other Income	0.121	0.112
		TOTAL (A)	583.698	341.448
Less	EXPENSES
		Cost of Goods Sold	537.556	317.149
		Preliminary Expenses Written Off	0.037	0.016
		Salaries Wages and Other Employ Benefit	1.445	1.157
		Remuneration to Director	0.240	0.240
		Auditors Remuneration	0.020	0.020
		Direct Expenses	36.016	16.623
		Operating and Other Expenses	3.442	2.524
		TOTAL (B)	578.756	337.729
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.942	3.719
Less	FINANCIAL EXPENSES (D)		1.520	0.079
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.422	3.640
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.644	2.938
	PROFIT BEFORE TAX (E-F) (G)		0.778	0.702
Less	TAX (H)		0.401	0.175
	PROFIT AFTER TAX (G-H) (I)		0.377	0.527
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.272	0.745
	BALANCE CARRIED TO THE B/S		1.649	1.272
	Earnings Per Share (Rs.)		1.03	1.82

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	0.06	0.15
Net Profit Margin (PBT/Sales)	(%)	NA	0.13	0.21
Return on Total Assets (PBT/Total Assets}	(%)	NA	1.15	1.14
Return on Investment (ROI) (PBT/Networth)		NA	0.03	0.04
Debt Equity Ratio (Total Debt/Networth)		1.46	0.32	2.23
Current Ratio (Current Asset/Current Liability)		2.32	1.69	1.37

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	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last two 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	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	No

FIXED ASSETS:

· Furniture and Fixtures

· Motor Car

· Motor Cycle

· Building

· Computer

· Plant and Machinery

· Excide Battery

· Air Conditioner

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.54.29
UK Pound	1	Rs.83.88
Euro	1	Rs.70.68

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.