MIRA INFORM REPORT

Report Date :

16.02.2013

IDENTIFICATION DETAILS

Name :	GLOBAL GREEN COMPANY LIMITED (w.e.f 23.12.1997)
Formerly Known As :	REITZEL INDIA LIMITED
Registered Office :	Thapar House, 124, Janpath, New Delhi - 110 001
Country :	India
Financials (as on) :	31.03.2012 (Profit and Loss Accounts)
Date of Incorporation :	18.02.1992
Com. Reg. No.:	55-047666
Capital Investment / Paid-up Capital :	Rs. 424.195 (As on 31.03.2011)
CIN No.: [Company Identification No.]	U02001DL1992PLC047666
TAN No.: [Tax Deduction & Collection Account No.]	HYDG01662D
PAN No.: [Permanent Account No.]	AAACR0635H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Distributor and Seller of Various Pickled Agri-Produce
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 3700000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a part of ‘Avantha Group’. It is a well established company having a moderate track record. There appears accumulated losses recorded by the company. The external borrowing appears to be huge. However, company gets good support from its group companies. Trade relations are reported to be 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

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

EXTERNAL AGENCY RATING

Rating Agency Name	FITCH
Rating	Long Term Rating = BBB-
Rating Explanation	The credit risk is currently low. The capacity for payments of financial commitment is considered to be adequate.
Date	June 2011

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 :	Thapar House, 124, Janpath, New Delhi - 110 001, India
Tel. No.:	91-11-23368332 / 23368811
Fax No.:	91-11-23368729
E-Mail :	misac@globalgreencompany.com kmanjunath@globalgreencompany.com sbudhiraja@bilt.com cs.ggcl@globalgreengroup.com
Website :	http://www.globalgreencompany.com
Head Office/ Factory :	220, Alembic Glass Complex, Whitefield Campuss, Hoskote Road, Whitefield, Bangalore - 560 066, Karnataka, India
Tel. No.:	91-80-28453792/28453793/28453019/28451957
Fax No.:	91-80-28453063
Area :	1,25,000 sq. ft. (Owned)
Location :	Industrial Area
Corporate Office.	#14, 80 Feet Road, 4^th Block,  Koramangala Bangalore - 560034, Karnataka, India
Tel. No.:	91-80-25536035/25527217
Fax No.:	91-80-25536061
Overseas Office :	Located At · European · North America

DIRECTORS

As on 30.11.2012

Name :

Mr. Gautam Thapar

Designation :

Director

Address :

E – 16, Pushpanjali Farm, S Bijwasan, New Delhi-110061

Date of Birth/Age :

07.12.1960

Date of Appointment :

15.04.1994

DIN No.:

00012289

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U21019DL1975PLC198598	BILT PAPER HOLDINGS LIMITED	Managing director	01-04-10	06-08-93	-	Amalgamated	NO
2	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Director	15-04-94	15-04-94	-	Active	NO
3	U74899DL1994PTC061845	VANI AGENCIES PRIVATE LIMITED	Director	29-09-94	29-09-94	01-07-09	Active	NO
4	U51102DL1997PLC112862	SOLARIS CHEMTECH LIMITED	Director	29-12-97	29-12-97	-	Amalgamated	NO
5	L21010MH1945PLC010337	BALLARPUR INDUSTRIES LIMITED	Director	01-04-10	16-04-99	-	Active	NO
6	U67120MH1978PLC020308	CG CAPITAL AND INVESTMENTS LIMITED	Director	30-03-01	30-03-01	-	Amalgamated	NO
7	L26102DL1984PLC019542	ASAHI INDIA GLASS LIMITED	Director	22-03-02	22-03-02	-	Active	NO
8	U80101MH2002NPL136300	PRATHAM EDUCATION FOUNDATION	Director	01-10-02	01-10-02	18-06-09	Active	NO
9	U51900MH2000PTC127339	OSIAN'S - CONNOISSEURS OF ART PRIVATE LIMITED	Director	16-12-02	16-12-02	24-12-09	Active	NO
10	U51396DL2004PLC129498	KCT PAPERS LIMITED	Director	28-09-04	28-09-04	-	Amalgamated	NO
11	L99999MH1937PLC002641	CROMPTON GREAVES LIMITED	Director	07-08-05	07-08-05	-	Active	NO
12	U74140DL2005PLC135984	SALIENT BUSINESS SOLUTIONS LIMITED	Director	07-10-05	07-10-05	-	Active	NO
13	U67120DL2003PLC198253	SOLARIS HOLDINGS LIMITED	Director	29-06-07	22-08-06	-	Amalgamated	NO
14	L99999MH1922PLC000987	GREAVES COTTON LIMITED	Director	24-09-06	24-09-06	16-05-07	Active	NO
15	U70102DL1981PLC198595	AVANTHA REALTY LIMITED	Director	26-12-07	02-02-07	13-12-11	Active	NO
16	U67120DL1998PLC198627	AVANTHA HOLDINGS LIMITED	Whole-time director	01-04-11	02-02-07	-	Active	NO
17	U52110DL1992PLC005844	KARAM CHAND THAPAR AND BROS. LIMITED	Director	28-12-07	26-02-07	-	Amalgamated	NO
18	U55101MH2000PLC187834	LAVASA CORPORATION LIMITED	Director	04-06-07	27-02-07	-	Active	NO
19	U01214DL2004PTC125167	SOHNA STUD FARM PRIVATE LIMITED	Director	07-09-07	10-05-07	-	Active	NO
20	U80903DL2009NPL189043	AVANTHA FOUNDATION	Director	01-04-09	01-04-09	-	Active	NO
21	U99999UR1928NPL002455	INDIAN PUBLIC SCHOOLS SOCIETY	Director	21-12-10	21-12-10	-	Active	NO

Name :

Mr. Bhuthalingam Hariharan

Designation :

Director

Address :

D-2/3, Vasant Vihar, New Delhi-110057

Date of Birth/Age :

18.04.1957

Date of Appointment :

18.11.2011

DIN No.:

00012432

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51102DL1997PLC112862	SOLARIS CHEMTECH LIMITED	Director	29-12-97	29-12-97	-	Amalgamated	NO
2	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Nominee director	18-11-11	25-05-99	-	Active	NO
3	U36999DL1989PLC034942	BILT TREE TECH LIMITED	Director	17-08-00	17-08-00	05-11-12	Active	NO
4	L21010MH1945PLC010337	BALLARPUR INDUSTRIES LIMITED	Whole-time director	21-06-01	21-06-01	-	Active	NO
5	U67120DL1998PLC198627	AVANTHA HOLDINGS LIMITED	Director	26-03-11	06-03-02	-	Active	NO
6	U65999DL2003PLC119508	NEWQUEST INSURANCE BROKING SERVICES LIMITED	Director	24-03-03	24-03-03	-	Active	NO
7	U67120DL2003PLC198253	SOLARIS HOLDINGS LIMITED	Director	04-04-03	04-04-03	-	Amalgamated	NO
8	U74140DL2005PLC135984	SALIENT BUSINESS SOLUTIONS LIMITED	Director	07-10-05	07-10-05	-	Active	NO
9	U22121DL2005PTC138214	CONTENT SERVICES AND PUBLISHING PRIVATE LIMITED	Director	08-03-06	08-03-06	12-03-10	Active	NO
10	U40101DL2005PLC138906	AVANTHA POWER AND INFRASTRUCTURE LIMITED	Director	13-12-06	12-06-06	-	Active	NO
11	U21000MH2007PLC172382	BILT GRAPHIC PAPER PRODUCTS LIMITED	Director	16-07-07	16-07-07	-	Active	NO
12	U24119DL2001PLC111100	SOLARIS CHEMTECH INDUSTRIES LIMITED	Director	31-12-08	26-09-08	-	Active	NO
13	U67120DL2003PTC121919	TOPSCORE TRADEVARIETY PRIVATE LIMITED	Director	30-09-10	21-07-09	-	Amalgamated	NO
14	U24296DL2004PLC129497	KCT CHEMICALS AND ELECTRICALS LIMITED	Director	08-09-09	21-07-09	-	Amalgamated	NO
15	U70102DL1981PLC198595	AVANTHA REALTY LIMITED	Director	30-09-10	04-11-09	-	Active	NO
16	U72900DL2001PLC109058	BILTECH BUILDING ELEMENTS LIMITED	Director	21-09-11	16-11-10	-	Active	NO
17	U85110KA1998PLC023512	PREMIER TISSUES (INDIA) LIMITED	Director	13-12-11	09-03-11	-	Active	NO
18	U26942CT2007PTC020227	K.P. CEMENT MFG. COMPANY PRIVATE LIMITED	Director	27-09-12	29-12-11	-	Active	NO
19	U40300MH2012PLC228170	CG POWER SOLUTIONS LIMITED	Director	14-03-12	14-03-12	-	Active	NO
20	L99999MH1937PLC002641	CROMPTON GREAVES LIMITED	Additional director	01-11-12	01-11-12	-	Active	NO

Name :

Ashwani Gupta

Designation :

Director

Address :

C-27, Chirag Enclave, New Delhi -110048, India

Date of Birth/Age :

09.01.1958

Date of Appointment :

17.09.2009

DIN No.:

00122889

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1995PTC071592	HONEYWELL INTERNATIONAL (INDIA) PRIVATE LIMITED	Managing director	10-12-02	10-12-02	30-06-08	Active	NO
2	U72200KA1994FTC016379	HONEYWELL TECHNOLOGY SOLUTIONS LAB PRIVATE LIMITED	Director	17-09-03	17-09-03	30-06-08	Active	NO
3	U29299PN2004PTC019904	HONEYWELL TURBO TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	03-11-04	03-11-04	23-06-08	Active	NO
4	U24119DL2001PLC111100	SOLARIS CHEMTECH INDUSTRIES LIMITED	Director	31-12-08	26-09-08	-	Active	NO
5	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Director	17-09-09	16-02-09	-	Active	NO
6	U74140KA2007PTC042034	FOOTPRINT VENTURES TRUSTEE COMPANY PRIVATE LIMITED	Director	13-09-11	31-07-10	-	Active	NO
7	U67190KA2006PTC038579	FOOTPRINT VENTURES CONSULTANCY PRIVATE LIMITED	Director	13-09-11	31-07-10	-	Active	NO
8	U74140DL2005PLC135984	SALIENT BUSINESS SOLUTIONS LIMITED	Director	26-09-11	18-03-11	-	Active	NO

Name :

Mr. Anthonie Leendert Stal

Designation :

Director

Address :

Groot Haesebroekseweg 9 , Wassenaar 2243, Netherlands

Date of Birth/Age :

31.10.1953

Date of Appointment :

02.06.2009

DIN No.:

02681031

Name :

Mr. Rajesh Kumar Srivastava

Designation :

Director

Address :

S-376, (GF), Panchshila Park, New Delhi – 110017, India

Date of Birth/Age :

20.05.1957

Date of Appointment :

30.09.2010

DIN No.:

00302223

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U67120MH2003PTC139711	RABO INDIA SECURITIES PRIVATE LIMITED	Managing director	20-01-07	01-06-06	06-01-09	Active	NO
2	U65929HR1998PLC037509	RABO INDIA FINANCE LIMITED	Director	18-07-08	15-03-07	15-12-09	Active	NO
3	U67190DL2006PTC191588	RABO EQUITY ADVISORS PRIVATE LIMITED	Managing director	18-07-08	21-04-08	-	Active	NO
4	U24239AP2006PLC050060	SRI BIOTECH LABORATORIES INDIA LIMITED	Director	03-03-09	02-03-09	-	Active	NO
5	U01110AP1997PTC026890	SRI BIOREMEDIES PRIVATE LIMITED	Director	05-03-09	04-03-09	-	Active	NO
6	U15493DL1991PTC205408	ADM AGRO INDUSTRIES KOTA AND AKOLA PRIVATE LIMITED	Director	05-11-09	05-11-09	16-08-11	Active	NO
7	L74899DL1990PLC041790	LT FOODS LIMITED	Nominee director	30-09-10	09-11-09	-	Active	NO
8	U15209DL2005PLC135838	DAAWAT FOODS LIMITED	Nominee director	29-09-10	29-12-09	-	Active	NO
9	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Director	30-09-10	31-03-10	-	Active	NO
10	U74899UP1993PLC034039	VACMET INDIA LIMITED	Director	12-08-11	19-08-10	-	Active	NO
11	U74140MH2004PLC148859	NATIONAL COLLATERAL MANAGEMENT SERVICES LIMITED	Director	25-08-11	13-06-11	-	Active	NO
12	U01119AP2003PTC041810	SUPER AGRISEEDS PRIVATE LIMITED	Nominee director	30-03-12	30-03-12	-	Active	NO
13	U01122PN2007PTC129505	SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED	Nominee director	28-09-12	28-09-12	-	Active	NO
14	U15200PN2009PTC134859	PRABHAT NUTRITIOUS AND FROZEN FOOD INDUSTRIES PRIVATE LIMITED	Nominee director	28-09-12	28-09-12	-	Active	NO
15	U15203PN1998PTC013068	PRABHAT DAIRY PRIVATE LIMITED	Nominee director	28-09-12	28-09-12	-	Active	NO

Name :

Mr. Wilton Henriques

Designation :

Director

Address :

Silvan Mansion, Lady Jamshedji Road, Mahim, Mumbai-400016, Maharashtra, India

Date of Birth/Age :

18.10.1955

Date of Appointment :

17.09.2009

DIN No.:

00059817

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31100MH1996PLC100151	CG ENERGY MANAGEMENT LIMITED	Director	26-11-01	26-11-01	-	Active	NO
2	U24295GA1988PLC000921	CG-PPI ADHESIVE PRODUCTS LIMITED	Director	24-07-02	24-07-02	21-09-10	Active	NO
3	U67120MH1978PLC020308	CG CAPITAL AND INVESTMENTS LIMITED	Managing director	01-11-10	28-08-02	-	Amalgamated	NO
4	U74899DL1993PTC051849	ITRON METERING SOLUTIONS INDIA PRIVATE LIMITED	Director	18-03-05	18-03-05	29-10-10	Active	NO
5	U74909DL2005PLC131985	MALANPUR CAPTIVE POWER LIMITED	Director	02-06-06	02-06-06	23-04-10	Active	NO
6	U31404TN1993PTC025779	AGILE CONSUMER ELECTRIC INDIA PRIVATE LIMITED	Director	27-07-07	20-12-06	29-10-10	Active	NO
7	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Director	17-09-09	16-02-09	-	Active	NO
8	U31900MH2010PLC209840	CG-ZIV POWER AUTOMATION SOLUTIONS LIMITED	Director	04-11-10	04-11-10	-	Active	NO
9	U85110KA1998PLC023512	PREMIER TISSUES (INDIA) LIMITED	Director	13-12-11	09-03-11	-	Active	NO
10	U40300MH2012PLC228170	CG POWER SOLUTIONS LIMITED	Director	14-03-12	14-03-12	-	Active	NO

Name :

Mr. Digvijai Singh Gill

Designation :

Managing Director

Address :

Way 7017, Villa 1000, North Azaiba, Sultanate Of Oman

Date of Birth/Age :

07.02.1962

Date of Appointment :

25.09.2012

DIN No.:

01226565

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U99999MH1987PLC043940	NIMBUS COMMUNICATIONS LIMITED	Nominee director	11-01-07	11-01-07	06-09-07	Active	NO
2	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Managing director	25-09-12	06-03-07	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.11.2012

Names of Shareholders	No. of Shares
Avantha Holdings Limited, India	33170878
Krishnan S	10
Ramesh Kumar Chopra	10
Banthia S	10
Surendra Kumar Khandelwal	20
Akhil Mahajan	10
India Agri Business Fund Limited, Mauritius	19702149
Rajesh Shrivastava on Behalf Of Real Trust	69205
Total	52942292

As on 30.11.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	37.22
Bodies corporate	62.65
Other	0.13
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Distributor and Seller of Various Pickled Agri-Produce

Products :

Description of product or service category	ITC Code
Gherkins in Brine	0711
Gherkins in Vinegar	2001
Jalapenos in Vinegar	2001

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Canara Bank, Hi-Tech Agricultural Finance Branch, 'M' Block, Unity Building, J C Road, Bangalore - 560002, Karnataka, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks secured	101.111	88.086
Foreign currency loans others secured	180.478	286.788
Working capital loans banks secured	279.061	15.857
Working capital loans others secured	130.566	293.272
Other debt secured	179.190	182.231
Total	870.406	866.234

Banking Relations :	--
Auditors :
Name :	Lovelock and Lewes Chartered Accountants
Address :	Thapar House, 124, Janpath, New Delhi - 110 001, India
PAN.:	AABFL5878L
Holding company :	Avantha Holdings Limited
Subsidiaries :	Intergarden (India) Private Limited

CAPITAL STRUCTURE

As on 30.11.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
53000000	Equity Shares	Rs.10/- each	Rs.530.000 Millions
3700000	Preference Shares	Rs.10/- each	Rs.37.000 Millions
	Total		Rs.567.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
52942292	Equity Shares	Rs.10/- each	Rs.529.423 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs.400.000 Millions
10000000	Preference Shares	Rs.10/- each	Rs.100.000 Millions
	Total		Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
38720071	Equity Shares	Rs.10/- each	Rs.387.201 Millions
3699422	Preference Shares	Rs.10/- each	Rs.36.994 Millions
	Total		Rs.424.195 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		424.195	424.195
2] Share Application Money		0.000	35.000
3] Reserves & Surplus		913.594	913.807
4] (Accumulated Losses)		(409.232)	(1.215)
NETWORTH		928.557	1371.787
LOAN FUNDS
1] Secured Loans		870.406	866.234
2] Unsecured Loans		571.523	95.868
TOTAL BORROWING		1441.929	962.102
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		2370.486	2333.889
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		456.981	439.309
Capital work-in-progress		21.757	57.899
INVESTMENT		1328.992	908.292
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	569.770	554.139
	Sundry Debtors	451.612	618.865
	Cash & Bank Balances	29.955	310.105
	Other Current Assets	0.000	0.000
	Loans & Advances	220.248	224.182
Total Current Assets		1271.585	1707.291
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	368.834	238.922
	Other Current Liabilities	329.557	502.306
	Provisions	10.438	37.674
Total Current Liabilities		708.829	778.902
Net Current Assets		562.756	928.389
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		2370.486	2333.889

Balance Sheet for the Year 2012 is not available, only Profit and Loss Account is available

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1624.444	1523.897	1758.118
		Other Income	15.867	18.858	84.760
		TOTAL (A)	1640.311	1542.755	1842.878
Less	EXPENSES
		Cost of materials consumed	923.274	931.342
		Purchases of stock-in-trade	24.740	28.267
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	109.042	(73.076)	1514.280
		Employee benefit expense	168.563	201.130
		Other expenses	500.488	527.112
		Exceptional items	90.481	210.299
		TOTAL (B)	1816.588	1825.074	1514.280
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(176.277)	(282.319)	328.598
Less	FINANCIAL EXPENSES (D)		182.260	65.936	90.181
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(358.537)	(348.255)	238.417
Less/ Add	DEPRECIATION/ AMORTISATION (F)		71.422	59.763	68.449
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(429.959)	(408.018)	169.968
Less	TAX (H)		15.332	0.000	69.773
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(445.291)	(408.018)	100.195
	Earnings / (LOSS) Per Share (Rs.)		(11.50)	(12.30)	3.43

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(27.15)	(26.45)	5.44
Net Profit Margin (PBT/Sales)	(%)	(26.47)	(26.77)	9.67
Return on Total Assets (PBT/Total Assets}	(%)	NA	(23.60)	7.92
Return on Investment (ROI) (PBT/Networth)		NA	(0.44)	0.12
Debt Equity Ratio (Total Debt /Networth)		NA	1.55	0.70
Current Ratio (Current Asset/Current Liability)		NA	1.79	2.19

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	Yes
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 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	Yes

OUTLOOK (As on 31.03.2011)

The Company is continuing to explore new and profitable opportunities to strengthen its order book and secure its sustainable business for future years.

The Company expects to achieve sales revenue of Rs.2043.000 Millions during the financial year 2011-12 with a gross margin of Rs.425.000 Millions and an EBITDA of Rs.128.000 Millions.

The Company has always been keen on improving customer satisfaction index and during the year under review has been no exception, despite the glass contamination issue.

CONTINGENT LIABILITIES (As on 31.03.2011)

Bank Guarantees Rs. 8.276 Millions (2010: Rs. 8.026 Millions). b) Corporate guarantee for credit facility availed by two subsidiary companies jointly and / or severally issued with holding company Rs. 903.088 Millions (2010: Rs. 882.200 Millions).

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks unsecured	0.000	50.070
Rupee term loans others unsecured	571.523	45.798
Total	571.523	95.868

FIXED ASSETS

· Building

· Plant Machinery

· Equipments

· Furniture Fixtures

· Vehicles

AS PER WEBSITE

PRESS RELEASE

PE FIRM INDIA AGRI BUSINESS TO INVEST $10 MN IN GLOBAL GREEN

New Delhi March 12, 2010 Last Updated at 17:49 IST

Private equity group India Agri Business Fund will invest $10 million (about Rs 480.000 Millions) in Gautam Thapar-promoted Avantha Group's food division Global Green Company Limited.

A shareholders agreement was signed between the Avantha Group and Rabo Equity Advisors, India Agri Business Fund and Global Green said in a joint statement. Rabo Equity Advisors is the investment adviser of IABF.

"We have successfully developed into a multinational food company through acquisitions. As we have aspirations of building our brands and develop a more robust India business, Rabo Equity's knowledge pool will work to our advantage in the next phase of growth," Global Green Managing Director and CEO Vineet Chhabra said.

The company, however, did not provide details regarding the likely utilisation of the investment or its timeframe. On being contacted, an Avantha official said the money would be utilised on its expansion plans.

Global Green, with a sales turnover of $150 million, is a supplier of processed fruits and vegetables and has processing facilities in India, Hungary and Belgium.

The $120 million IABF is sponsored by The Netherlands-based Rabobank and was formed for promotion of food and agribusiness companies in the Indian market.

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.53.99
UK Pound	1	Rs.83.72
Euro	1	Rs.72.09

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
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.