MIRA INFORM REPORT

Report Date :

12.02.2013

IDENTIFICATION DETAILS

Name :	GREEN CROP INTERNATIONAL PRIVATE LIMITED
Registered Office :	205, Vasudha Equinox, Pune - Mumbai Old Highway, Near Khadki Railway Station, Bopodi, Pune – 411003, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	06.12.2001
Com. Reg. No.:	11-017841
Capital Investment / Paid-up Capital :	Rs. 17.946 Millions
CIN No.: [Company Identification No.]	U01122PN2001PTC017841
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Fertilizers and Pesticides.
No. of Employees :	Not Available

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 100000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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 – 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

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.

LOCATIONS

Registered Office :	205, Vasudha Equinox, Pune - Mumbai Old Highway, Near Khadki Railway Station, Bopodi, Pune – 411003, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	cprshah@gmail.com greencroppune@rediffmail.com
Website :	www.greencrop.co.in
Head Office :	Hyderabad 402, Reliance Residency, Opp. NTR Stadium, Ramakrishna Mutt Road, Domalguda, Hyderabad – 500 029 Tel No : 91-40-27605932/35 Fax No: 91-40-66686468 Mobile No: 91-9866045000 (Mr. R. Venugopal) / 9849878444 (Mr. MVRC Sekar) / Mr. V.Srinivas Reddy (91-9849638001 E-Mail: greencrop@rediffmail.com Bangalore No.85/S F-7, 2^nd Floor, Gangamma Rangasetty Complex, 3^rd Main, 1^st Cross, New Tharagupet, Bangalore – 560 002 Mobile No: 91-9945118897 / 91-9448101008 (Mr. LCM Reddy) Fax No: 91-80-26707861 E-Mail: greencropbangalore@rediffmail.com Coimbatore C/o. H.R. Business Links, 64 Thaalai Thoppu, G.N. Mills Post, Mettupalayam Road, Coimbatore – 641 029 Tel No: 91-422-4383008/4384009 Fax No: 91-422-2648659 Mobile No: 91-9848023304 / 9443723304 (Mr. S. Rajendran) / 91-9842230637 (Mr. Kumaraswamy) E-Mail: gciplcbe@airtelmail.in rankmark@airtelbroadband.in Ahmedabad C/o, Bhole Agro Traders, S-34, Tirupati Estate, Opp. House of Kedia, N.11.8, ASLALI, Ahmedabad Tel No: 91-2718-261238 Mobile No: 91-9898520940/9825455246 Raipur C/o Mundra Distributors, 1^st Floor, Gopal Bagh, K.K. Road, Raipur. Tel No: 91-771-2888836 / 2529936 / 2525536 Fax No: 91-771-4030436 (Mr. Rao) / 2528836
Factory 1 :	GAT No.389, Zendewadi, Saswad Road, Post Dive, Tq. Purandhar, Pune, Maharashtra, India
Tel No :	91-2115-202730
Location :	Leased
Factory 2 :	Also Located at · Ahmedabad
Branch Office :	Located at: · Raipur · Hyderabad
Location :	Rented

DIRECTORS

As on: 26.09.2012

Name :	Mr. Sharad Wamanrao Sawant
Designation :	Managing Director
Address :	Great Eastern Retreat, Flat No. 404, Lakakki Road, Model Colony, Shivaji Nagar, Pune – 411 016, Maharashtra, India
Date of Birth/Age :	31.07.1942
Date of Appointment :	12.12.2001
DIN No.:	00151604
Name :	Mr. Balkrishna Dwarkadas Bhutada
Designation :	Director
Address :	Busar Lane, Latur – 413 513, Maharashtra, India
Date of Birth/Age :	01.11.1958
Date of Appointment :	06.12.2001
DIN No.:	00262012
Name :	Mr. Dnyanoba Baliram Karegaonkar
Designation :	Director
Address :	Maharani Laxmibai Road, Near Magear Hospital, Parbhani – 431 401, Maharashtra, India
Date of Birth/Age :	25.08.1951
Date of Appointment :	06.12.2001
DIN No.:	00262285
Name :	Mr. Popatrao Sonaji Deshmukh
Designation :	Director
Address :	B-3/3 Ragdari, D. P. Road, Aundh, Pune – 411 007, Maharashtra, India
Date of Birth/Age :	15.03.1952
Date of Appointment :	12.12.2001
DIN No.:	00262182
Name :	Mr. Reddi Palli Venugopal
Designation :	Director
Address :	302 Bhandari Residency, Uma Nagar, Begum Peth, Hyderabad – 500 016, Andhra Pradesh, India
Date of Birth/Age :	01.07.1958
Date of Appointment :	28.05.2002
DIN No.:	00365630

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 26.09.2012

Names of Shareholders	No. of Shares
Sharad Wamarao Sawant Jointly with Snehal Sharad Sawant	340000
Dnyanoba Baliram Karegaonkar Jointly with Nilesh Dnyanoba Karegaonkar	103500
Mankarnika Dnyanoba Karegaonkar Jointly with Nilesh Dnyanoba Karegaonkar	76500
Rajendra Gokuldas Rathi ,Jointly with Meena Rajendra Rathi	45000
Meena Rajendra Rathi , Jointly with Rajendra Gokuldas Rathi	80000
Balkishan D. Bhutada, Jointly with Pramila Balkishan Bhutada Shrikant D. Bhutada	120000
Gangadhar Harischandra Munde, Jointly with Mangala Gangadhar Munde	44500
Alka Popatrao Deshmukh Jointly with Popatrao Sonaji Deshmukh	40000
R.Venugopal	50000
Bhupesh Vithaldas Rathi, Jointly with Vithaldas Govinddas Rathi	500
Shirlal Janardhan Shetty, Jointly with Mrs. Sulochana Janardan Shetty	5000
Mrs. Sulochana Janardhan Shetty Jointly with Shirlal Janardhan Shetty,	5000
Varsha Milind Kulkarni	10000
Bharatappa Jagannatappa Jirwankar,Jointly with Asha Bharatappa Jirwankar	2500
Rekha Pundlikrao Landge, Jointly with Pundlikrao Vithobaji Landge	2500
Anuradha Vithal Purbuj, Jointly with Vithal Kaluram Purbuj	2500
Nasreen Altaf Ahmed Shaik,	16000
Popatrao Sonaji Deshmukh ,Jointly with Alka Popatrao Deshmukh	80000
Zameer Altaf Ahmed Shaik,	15000
Brajlata Vijaysing Mohta, Jointly with Vijaysing Sujansing Mohta	5000
Sangeeta Surendrakumar Rathi, Jointly with Surendrakumar Gokuldas Rathi	85000
Dr. Ramkrishna Dagdopant Muley, Jointly with Geetanjali Ramkirshna Muley	50000
Dilip Nichhubhai Desai, Jointly with Devang Dilip Desai	10000
Leela Madhukar Borhade, Jointly with Madhukar Marutirao Borhade	10000
Pawan Balasaheb Kale Jointly with Sachin Balasaheb Kale	10000
Shivajirao Narayanrao Patil Jointly with Sailesh Shivagirao Patil	5000
S R Desale Jointly with R N Desale	2500
Shobha Vasantrao More Jointly with Swapnil Vasantrao More	100
Chandrashekhar Vasantarao Gitte	10000
Mrs Urmila Sandeep Raswe	5000
Rekhatai Balasaheb Kale Jointly with Pawan Balasaheb Kale	120000
Ramesh Shankar Chankhede Jointly with Rekha Ramesh Chandankhede	10000
Randhir Sharad Sawant Jointly with Dhanshree Randhir Sawant	7500
Mrs Archana Ashokrao Buchale Jointly with Mr.Ashokrao Trimbakrao Buchale	25000
Ashwin Vandravan Popat Jointly with Ashaben Ashwin Popat	1000
Dilip Kumar Agarwal Jointly with Suraj Dilipkumar Agrawal	5000
Bejo Sheetal Seeds Private Limted, India	250000
Diwakar Govindrao Vaidya Jointly with Durgadevi Diwakar Vaidya	50000
Snehal Sushil Jannawar Jointly with Sushil Madhusudan Jannawar	10000
Balaji Kashinathrao Debdwar	10000
Aditya Ashok Yeloe	15000
Abdulla Attari	25000
Sabiha Attari	25000
Milind Vamanrao kulkarni	10000
Total	1794600

As on 21.11.2012

Names of Allottee	Number of shares Allotted
Adhik Sawarkar	10000
Aditya Ashole Yeole	85000
Archana Ashokrao Buchale	50000
Balakrishna Bhutada	145400
Brajilata Mohta	10000
Dnyanoba Karegaonkar	60000
Ganesh Manchak Raut	20000
Dilip Kumar Agarwal	5000
Pawan Kall	50000
Popartao Sonaji Deshmuh	20000
Alka Deshmukh	10000
Rajendra Gokuldas Rathi	20000
RameshShankaraoChandankhede	10000
Randhit Sawant	2500
Sanjay Bothra	10000
Sharad Wamanrao Sawant	160000
Shirlal Shetty	10000
Shivajirao Narayanrao Patil	5000
Sulochana Shetty	10000
Urmila Sandeep Raswe	5000
Anuradha Vithal Purbuj	7500
Total	705400

Equity Share Break up (Percentage of Total Equity)

As on: 26.09.2012

Category	Percentage
Bodies corporate	13.93
Directors or relatives of Directors	46.95
Other top fifty shareholders	39.12
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Fertilizers and Pesticides.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Bank of Maharashtra, Agri Hi Tech Branch, Mangalmurti Complex, Sinhgad Road, Pune – 411 030, Maharashtra, India

· Bank of Maharashtra, Lokmangal, 1501, Shivajinagar, Pune – 411005, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2012

As on

31.03.2011

Term Loan from Banks

Bank - Office Premises (Note 4.1)

5.142

Bank - Plant & Machinery ( Note 4.2 & 4.6)

0.058

Other Loan from Banks

Bank - Vehicle (Note 4.3)

0.281

Bank - Vehicle (Note 4.4)

0.359

Loan from Others

Vehicles (Note 4.5)

0.000

From Bank

Working Capital Loans (Note 6.1 and 6.3)

30.733

Working Capital Term Loan (Note 6.2 and 6.3)

5.000

Total

41.573

26.126

Note 4.1

Secured by Equitable mortgage of office premises. Repayable in 84 monthly installment commencing from May 2012, Interest payable @ 13.60% p.a.

Note 4.2

Secured by hypothecation of Machinery and personal guarantee of Directors. Payable in 36 monthly Installments commenced from July 2010 with Interest @ 12.25% p.a.

Note 4.3

Secured by hypothecation of Motor cars. Payable in 36 monthly installments commenced from November 2010, Interest @ 8% p.a.

Note 4.4

Secured by hypothecation of Motor car. Payable in 36 monthly installments commenced from September 2011, Interest @ 11.25% p.a.

Note 4.5

Secured by hypothecation of Motor car. Payable in 36 monthly installments commenced from September 2010, Interest @ 8.25% p.a.

Note 4.6

Long Term Borrowing Guaranteed By Directors

Particular	31.03.2012	31.03.2011
Secured Term Loan
Bank of Maharashtra	0.058	0.310

Banking Relations :	--
Auditors :
Name :	Chag Pahwa and Shah Chartered Accountants
Address :	502, Dhanlaxmi Mahal, Nanda Patkar Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India
Tel. No.:	91-22-26143358/ 26143359
E-Mail :	cprshah@gmail.com
PAN.:	AABFC6555H
Enterprises where key management personnel along with their relatives exercise significant influence :	Green India Exports Private Limited

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1794600	Equity Shares	Rs.10/- each	Rs. 17.946 Millions

Reconciliation of Number of Shares and Amount Outstanding

Particulars	Number of Shares	Amount (Rs in Millions)
Equity Shares At the beginning of the year	1,532,000	15.320
Add: Fresh Issue During The year	262600	2.626
Equity Shares At the end of the year	1794600	17.946

Terms/Rights attached to equity shares:

The company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend except interim dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be proportion to the number of equity share held by shareholders

Name of the Shareholder	Number of Shares held	% of shares Held
Sharad Wamarao Sawant	290000	16
Bejo Sheetal Seeds Private Limited	250000	14
Balkishan D. Bhutada	120000	7
Rekhatai Balasaheb Kale	120000	7
Dnyanoba Baliram Karegaonkar	103500	6
51Others Individually holding less than 5%	911100	51
Total	1794600	100

After: 26.09.2012

Authorised Capital : Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 25.000 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		17.946	15.320	14.950
2] Share Application Money		7.054	0.000	0.000
3] Reserves & Surplus		16.668	13.874	9.501
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		41.668	29.194	24.451
LOAN FUNDS
1] Secured Loans		41.573	26.126	21.660
2] Unsecured Loans		0.000	2.350	0.350
TOTAL BORROWING		41.573	28.476	22.010
DEFERRED TAX LIABILITIES		0.123	0.008	0.000
TOTAL		83.364	57.678	46.461
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17.773	5.807	4.051
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	47.802	42.951	28.394
	Sundry Debtors	67.213	57.506	48.570
	Cash & Bank Balances	9.993	11.787	5.584
	Other Current Assets	0.007	8.624	6.628
	Loans & Advances	2.361	0.000	0.000
Total Current Assets		127.376	120.868	89.176
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	32.145	37.367	19.012
	Other Current Liabilities	26.507	21.417	19.035
	Provisions	3.133	10.227	8.747
Total Current Liabilities		61.785	69.011	46.794
Net Current Assets		65.591	51.857	42.382
MISCELLANEOUS EXPENSES		0.000	0.014	0.028
TOTAL		83.364	57.678	46.461

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	NA	NA	NA
		Other Income
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	NA	NA
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		8.913	10.706	9.754
Less/ Add	DEPRECIATION/ AMORTISATION		1.405	1.136	0.938
	PROFIT BEFORE TAX		7.508	9.570	8.816
Less	TAX		2.414	3.128	2.900
	PROFIT AFTER TAX		5.094	6.442	5.916
Less/ Add	EXCESS PROVISION FOR TAX		0.020	0.053	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		13.024	8.851	5.277
Less	APPROPRIATIONS
		Transfer to General Reserve	0.200	0.200	0.250
		Proposed Dividend	1.996	1.826	1.788
		Tax on Distribution of Dividend	0.324	0.296	0.304
	BALANCE CARRIED TO THE B/S		15.618	13.024	8.851
	EARNINGS IN FOREIGN CURRENCY		0.199	0.090	NIL
	IMPORTS		31.343	26.195	5.881
	Earnings Per Share (Rs.)		3.25	4.20	3.96

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	5.17	7.55	9.46
Return on Investment (ROI) (PBT/Networth)		0.18	0.33	0.36
Debt Equity Ratio (Total Debt/Networth)		0.99	0.97	0.90
Current Ratio (Current Asset/Current Liability)		2.06	1.75	1.91

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	No
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	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

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U01122PN2001PTC017841
Name of the company	GREEN CROP INTERNATIONAL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	205, Vasudha Equinox, Pune - Mumbai Old Highway, Near Khadki Railway Station, Bopodi, Pune – 411003, Maharashtra, India greencroppune@rediffmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90086653
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Others
Particular of charge holder	Bank of Maharashtra, Agri Hi Tech Branch, Mangalmurti Complex, Sinhgad Road, Pune – 411 030, Maharashtra, India bom1142@mahabank.co.in
Nature of instrument creating charge	Primary: Composite deed of hypothecation of stock and receivables Collateral: Additional charge created on immovable properties owned by directors and their relatives as specified in memorandum of record of deposit of title deeds by the borrower and guarantor.
Date of instrument Creating the charge	28.11.2012
Amount secured by the charge	Rs. 45.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base Rate+3.50% compounded interest i.e 14.00% p.a or any other rate that may be specified by bank from time to time. Terms of Repayment Repayable on demand Margin 25% in bank's favour and the bank shall be in discretion to change the margin as and when bank deems necessary. Extent and Operation of the charge As Described In Composite Deed Of Hypothecation. Others Nature of Facility: Cash Credit.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Present and future movable plants, machineries, goods, (specifically described in composite deed of hypothecation) and collateral security by way of mortgage of the following properties: Flat No. 404, 4th Floor, The Great Eastern Retreat, CTS No 1119-A, 1121-A/8, F.P. No. 496a, 497a/8, Lakaki Road, Bhamburda, Shivajinagar, Pune Admeasuring Area 1870 Sq. ft Flat No. 3a, 1st Floor, Building No B-3, Raagdari, S No 156/1b/1, Near Lifeline Hospital, Anand Park, Aundh, Pune, Admeasuring 585 SFT Flat No. 3b, 1st Floor, Building No B-3, Raagdari, S No 156/1b/1, Near Lifeline Hospital, Anand Park, Aundh, Pune, Admeasuring 550 SFT Nazul Plot No 172 And Construction Thereon, Karanja Chowk, Rammandir Ward, Hinganghat District Wardha Admeasuring Area 652 SFT Plot No 20, Bearing House No 137, Ward No 11 Situated At Rani Laxmi Bai Road, Behind Dr. Magar Hospital, Parbhani Admeasuring Area 315.66SQM Office No 205 and 206, 2nd Floor, CTS No 2504, Vasudha Equinox, Khadki, Pune.
Date of instrument modifying the charge	30.06.2011
Particulars of the present modification	By way of present modification the cash credit limit enhanced from existing Rs. 35.000 Millionsto Rs. 45.000 Millions

OPERATION:

Highlights of performance during 2011/12:

· Company's turnover has grown by 5% in value terms vis-a-vis previous year.

· Fertilizer activity has grown by 31% compared to previous year while the Pesticides activity remained more or less at the same level.

· Bangalore Sales Office has crossed the figure of Rs.10.000 Millions and registered a growth of 38% over previous year.

Coimbatore Sales Office continued to perform better and registered growth of 28% over previous year.

Pune sales office registered overall growth of 19% over last year but when compared activity wise there is excellent growth of 96% in Fertilizer activity whereas degrowth in Pesticides activity by 22%.

Akola sales office registered growth of just 4% over previous year.

Due to a various factors, Ahmedabad & Raipur sales offices have degrown by 58% & 14% respectively over previous year and action is being initiated to reverse the trend.

Plans for financial year 2012/13 will be:

· To intensively focus in unexplored and under-explored areas for attaining significant growth.

· To realign product mix and focus on high contributing products.

· To reduce ADCP (Average Debt Collection Period) and minimize interest / bad debts.

· To contain expenses / stock returns

· To build assets.

UNSECURED LOAN

(Rs in Millions)

Particular	As on 31.03.2012	As on 31.03.2011
Loans and Advances from Related Parties
From Directors and their Relatives	0.000	2.000
From Shareholders	0.000	0.350
Total	0.000	2.350

· Secured by hypothecation of movable plant and machinery, inventory and book debts and also mortgage of some of the Directors' and a member's personal property and also by personal guarantees of some of the Directors and a member. Interest payable @ 13.50% p.a.

· Secured by hypothecation of stocks and Debtors and personal guarantee of Directors Interest payable @ 15% p.a.

·

Short Term Borowing Guaranteed By Directors

Paricular	31.03.2012	31.03.2011
Secured Working Capital Loan :
Working Capital Loans	30.733	23.905
Working Capital Term Loan	5.000	0.000

FIXED ASSETS

· Air Conditioner

· Electrical Fittings

· Fax and EPABX

· Furniture and Fixtures

· Aqua Guard

· Car

· Computer

· Emergency Power System

· Mobile Handset

· Printers

· UPS

· Motor Cycle

· Laboratory Equipments

· Computer Software

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. 53.68
UK Pound	1	Rs. 84.85
Euro	1	Rs. 71.87

INFORMATION DETAILS

Report Prepared by :

UDS

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	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
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.