MIRA INFORM REPORT

Report Date :

22.02.2013

IDENTIFICATION DETAILS

Name :	CCL PRODUCTS (INDIA) LIMITED
Registered Office :	Duggirala, Guntur-522330, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	22.03.1961
Com. Reg. No.:	01-000874
Capital Investment / Paid-up Capital :	Rs. 133.028 Millions
CIN No.: [Company Identification No.]	L15110AP1961PLC000874
Legal Form :	A Public Limited Liability Company. The Company’s shares are listed on Stock Exchange.
Line of Business :	Manufacturer of Soluble Instant Spray Dried Coffee Powder, Spray Dried Agglomerated / Granulated Coffee, Freeze Dried Coffee, as well as Freeze Concentrated Liquid Coffee.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (60)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 10120000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Listing :	Yes
Banker’s Note :	Number not Available
Comments :	Subject is a well established and a reputed company having a good track record. The financial position of the company appears to be sound and healthy. Directors are reported to be well experienced and knowledgeable businessmen. The company has performed well during the current year. Trade relations are reported as decent. Business is active. Payment terms are reported as regular and as per commitment. The company can be considered for 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 / Factory :	Duggirala, Guntur-522330, Andhra Pradesh, India
Tel. No.:	91-8644-277294
Fax No.:	91-8644-277295
E-Mail :	info@cclproducts.com
Website :	www.cclproducts.com
Corporate Office :	7-1-24/2/D, Freendale, Ameerpet, Hyderabad-500016, Andhra Pradesh, India
Tel. No.:	91-40-23732455
Fax No.:	91-40-23732499

DIRECTORS

AS ON 31.03.2012

Name :	Mr. Challa Rajendra Prasad
Designation :	Chairman and Managing Director
Name :	Mr. Zafar Saifullah
Designation :	Director
Name :	Mr. I. J. Rao
Designation :	Director
Name :	Mr. Vipin K. Singal
Designation :	Director
Name :	Mr. Jonathan T. Feuer
Designation :	Director
Name :	Mr. K. Chandrahas
Designation :	Director
Name :	Mr. J. Rambabu
Designation :	Director
Name :	Mr. Challa Srishant
Designation :	Executive Director

KEY EXECUTIVES

Name :	Mr. K.V.L.N. Sarma
Designation :	Chief Financial Officer
Name :	Ms. Sridevi Dasari
Designation :	Company Secretary and Compliance Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.12.2012

Category of Shareholder	No. of Shares	% of No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	4688995	35.25
Sub Total	4688995	35.25
(2) Foreign
Individuals (Non-Residents Individuals / Foreign Individuals)	600000	4.51
Sub Total	600000	4.51
Total shareholding of Promoter and Promoter Group (A)	5288995	39.76
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	1296885	9.75
Financial Institutions / Banks	49042	0.37
Foreign Institutional Investors	585833	4.4
Sub Total	1931760	14.52
(2) Non-Institutions
Bodies Corporate	869077	6.53
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	1614222	12.13
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	1333843	10.03
Any Others (Specify)	2264895	17.03
Non Resident Indians	1033236	7.77
Foreign Collaborators	1183951	8.9
Clearing Members	47033	0.35
Trusts	675	0.01
Sub Total	6082037	45.72
Total Public shareholding (B)	8013797	60.24
Total (A)+(B)	13302792	100
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0
(1) Promoter and Promoter Group	0	0
(2) Public	0	0
Sub Total	0	0
Total (A)+(B)+(C)	13302792	0

BUSINESS DETAILS

Line of Business :

Manufacturer of Soluble Instant Spray Dried Coffee Powder, Spray Dried Agglomerated / Granulated Coffee, Freeze Dried Coffee, as well as Freeze Concentrated Liquid Coffee.

Products :

ITC CODE	PRODUCTS
210110	Instant Coffee
210130	Roasted Chicory Coffee

PRODUCTION STATUS (AS ON : 31.03.2011)

Particulars	Unit	31.03.2011
Installed Capacity	MTS (per annum)	15,000.00
Actual Production	MTS (per annum)	11,607.16

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ICICI Bank Limited

· State Bank of India

· State Bank of Hyderabad

· Kotak Mahindra Bank Limited

Facilities :

Secured Loan

Rs. In Millions

31.03.2011

Rs. In Millions

31.03.2010

Long Term Borrowings

Term Loan from Banks

50.000

246.169

Deferred payment liability

2.188

3.358

Short Term Borrowings

Loans From Bank

Packing credit/ Buyers’ credit

1244.762

1078.937

Bills discounting

0.000

5.168

Cash Credit

9.336

0.135

TOTAL

1306.286

1333.767

NOTES

Long-term Borrowings

a) Details of security:

The Term Loans are secured by Paripassu Charge on all the Fixed Assets of the Company by way of deposit of title deeds in respect of Factory and Land admeasuring Acr.19.3475 Cents situated at Duggirala Mandal, Guntur District. The said facility is further secured by way of second charge on the current assets of the company both present and future. The Term Loans availed by the company are also secured by the personal guarantee of the Chairman and Managing Director.

b) Details of Term Loan Borrowings

(Rs. In Millions)

Institution	Rate of Interest	Maturity Profile		Total
		2012-13	2013-14
State Bank of Hyderabad	12.50%	25.000	--	25.000
ICICI Bank Limited – ECB	Libor+150 bps	55.092	--	55.092
Kotak Mahindra Bank Limited	12.90%	100.000	50.000	150.000
Total		180.092	50.000	230.092

c) Deferred payment liabilities represent sales tax deferment. This loan is interest free and repayable as Rs. 1.171 Millions in the year 2012-13, Rs. 0.848 Million in the year 2013-14 and Rs.1.340 Millions in the year 2014-15 respectively.

Short Term Borrowings

Details of security:

Working Capital Facilities by State Bank of India, State Bank of Hyderabad, ICICI Bank Limited and Kotak Mahindra Bank Limited under consortium are secured by way of first paripassu charge on Hypothecation of stocks of raw materials, semi finished, finished goods consumables, stores, book debts and such movable assets present and future and second charge on all fixed assets of the Company.

Banking Relations :	--
Auditors :
Name :	M. Anandam and Company Chartered Accountant
Address :	7 ‘A ’, Surya Towers, Sardar Patel Road, Secunderabad – 500 003, Andhra Pradesh, India
Internal Auditors
Name :	Ramesh and Company Chartered Accountant
Address :	H.No: 6-3-661/B/1 Sangeeth Nagar, Somajiguda, Hyderabad – 500 082, Andhra Pradesh, India
Subsidiaries :	· Jayanti Pte Limited, Singapore (Subsidiary of CCL Products (India) Limited – India) · Grandsaugreen SA, Switzerland (Subsidiary of Jayanti Pte. Limited, Singapore) · Ngon Coffee Company Limited., Vietnam (Subsidiary of Jayanti Pte. Limited, Singapore)

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13302792	Equity Shares	Rs.10/- each	Rs. 133.028 Millions

NOTES

Details of shareholders holding more than 5% shares :	No. of shares	% Holding
Challa Rajendra Prasad	7,01,005	5.27%
Challa Shantha Prasad	18,00,000	13.53%
Challa Srishant	7,87,990	5.92%
Challa Soumya	14,00,000	10.52%
Ian Breminer	8,56,059	6.44%
Reliance Capital Trustee Company Limited	12,96,885	9.75%

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		133.028	133.028	133.028
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2397.348	2109.323	1870.326
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2530.376	2242.351	2003.354
LOAN FUNDS
1] Secured Loans		1306.286	1333.767	1500.735
2] Unsecured Loans		0.000	0.000	60.086
TOTAL BORROWING		1306.286	1333.767	1560.821
DEFERRED TAX LIABILITIES		216.889	198.795	174.399
TOTAL		4053.551	3774.913	3738.574
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2139.591	2279.991	2111.547
Capital work-in-progress		2.267	0.000	306.248
INVESTMENT		375.540	375.540	180.411
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1073.629	812.650	639.970
	Sundry Debtors	662.219	512.045	420.316
	Cash & Bank Balances	43.573	45.333	25.647
	Other Current Assets	4.558	2.494	0.000
	Loans & Advances	250.186	175.638	344.396
Total Current Assets		2034.165	1548.160	1430.329
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	174.829	101.951	176.417
	Other Current Liabilities	243.582	283.545	2.055
	Provisions	79.601	43.282	111.489
Total Current Liabilities		498.012	428.778	289.961
Net Current Assets		1536.153	1119.382	1140.368
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4053.551	3774.913	3738.574

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	4893.575	3528.070	2813.741
		Other Income	13.216	40.647	51.501
		TOTAL (A)	4906.791	3568.717	2865.242
Less	EXPENSES
		Cost of Materials Consumed	2955.179	2118.499	2234.628
		Employee benefits expense	130.997	102.799
		Other expenses	952.787	764.880
		Changes in inventories	50.320	(94.942)
		TOTAL (B)	4089.283	2891.236	2234.628
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		817.508	677.481	630.614
Less	FINANCIAL EXPENSES (D)		115.569	124.222	139.445
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		701.939	553.259	491.169
Less/ Add	DEPRECIATION/ AMORTISATION (F)		158.515	150.506	141.934
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		543.424	402.753	349.235
Less	TAX (H)		178.095	127.570	79.212
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		365.329	275.183	270.023
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	108.474
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	NA	300.000
		Dividend	NA	NA	19.954
		Tax on Dividend	NA	NA	3.314
	BALANCE CARRIED TO THE B/S		NA	NA	55.229
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	4618.555	3370.384	2730.375
		Dividend	1.327	1.187	1.195
	TOTAL EARNINGS		4619.882	3371.571	2731.570
	IMPORTS
		Raw Materials	2211.493	1044.001	1251.122
		Stores & Spares	45.786	32.490
		Capital Goods	9.158	1.205
	TOTAL IMPORTS		2266.437	1077.696	1251.122
	Earnings Per Share (Rs.)		27.46	20.69	20.30

QUARTERLY RESULTS

PARTICULARS	30.06.2012	30.09.2012	31.12.2012
	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	1377.800	1263.600	1645.100
Total Expenditure	1181.000	993.300	1298.700
PBIDT (Excl OI)	196.800	270.300	346.300
Other Income	0.000	0.000	0.000
Operating Profit	196.800	270.300	346.300
Interest	26.000	30.700	35.200
Exceptional Items	0.000	0.000	0.000
PBDT	170.700	239.600	311.100
Depreciation	39.800	39.900	41.200
Profit Before Tax	131.000	199.700	269.900
Tax	33.800	62.000	98.900
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	97.200	137.700	171.000
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	97.200	137.700	171.000

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	7.45	7.71	9.42
Net Profit Margin (PBT/Sales)	(%)	11.10	11.42	12.41
Return on Total Assets (PBT/Total Assets}	(%)	13.02	10.52	9.86
Return on Investment (ROI) (PBT/Networth)		0.21	0.18	0.17
Debt Equity Ratio (Total Debt /Networth)		0.52	0.59	0.78
Current Ratio (Current Asset/Current Liability)		4.08	3.61	4.93

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	No
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)	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	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

COMPANY PERFORMANCE

The Company posted good financial results during the year. The production and sales of Instant Coffee were 12,392 M.Ts. and 12,589 M.Ts. as against 11,607 M.Ts. and 11,277 M.Ts. respectively in the preceding year. Turnover of the Company has increased from Rs. 3555.000 Millions to Rs. 4929.100 Millions, registering growth of 39%. The net profit of the Company for the current year is Rs. 365.300 Millions as against Rs. 275.200 Millions in the preceding year, registering growth of 33%.

WHOLLY OWNED SUBSIDIARY

The Company’s 100% stepdown subsidiary M/s. Grandsaugreen, Switzerland, catering to the requirements of the clients in the Europe, has performed well during the year.

The Company has since completed implementation of the instant coffee project through its 100% step down subsidiary, M/s. Ngon Coffee Company Limited, Vietnam. Presently, the Company is carrying out trial runs and the commercial production is expected to commence during the third quarter of the current financial year.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Soluble Instant coffee, more commonly referred to as instant coffee or coffee powder, is commercially prepared in solid form by either freeze-drying or spray- drying, after which it can be rehydrated. The latest version of instant coffee now becoming popular, is in the form of concentrated liquid.

Instant coffees have now been on the market for many decades. One of every three cups of coffee consumed in the world is instant coffee. The instant coffee market has potential to be transformed away from traditional small glass jars and tins. Liquid coffee also makes the product more convenient to put in more retail locations with ease of use.

BUSINESS REVIEW

The Company has already established its long standing presence in the international markets in the traditional Spray-Dried Instant Coffee segment and has made a successful entry in the Freeze- Dried Coffee and focused to make a mark in the Liquid Coffee segment, the future for which also seems encouraging.

The Company’s endeavours through its Quality Control Division to enhance the quality of products by a careful mix of various blends and essence and to give the products at best prices to the customer are showing results by taking the products to new competitive markets. Efforts to achieve in the right mix of raw-materials are also giving advantage to the Company in achieving the best quality product at the most competitive price.

The expanded capacity of the plant at Duggirala in Guntur District of Andhra Pradesh and also the multidimensional presence of the company will help cater to the increased demand for instant coffee in international markets.

During the year, the sales of the Company grew from Rs. 3555.000 Millions to Rs. 4893.500 Millions. The Net Profit is at Rs. 365.300 Millions as against Rs. 275.200 Millions during the preceding financial year.

Earnings per share (EPS) for the current year is 27.46.

INDUSTRY STRUCTURE AND DEVELOPMENTS

The instant coffee sector outlook is bright as consumers increasingly value instant coffee’s simplicity of preparation. The domestic market demand is forecast to grow at 10.5% p.a. from 2008 to 2013, driven by increasing per capita income and urbanised lifestyle among the young generation, who appreciate the convenience of instant coffee.

Consumption of instant coffee is on the rise, with growth rates often exceeding those for Roast and Ground Coffee. Consumption is rising not only within the traditional tea-drinking societies of UK, Russia, India and Japan, but also in emerging new markets in Eastern Europe and China.

OUTLOOK

The modern times have witnessed evolution of coffee drinking from an everyday habit to a healthy lifestyle choice. Coffee has gained the status of being the most preferred beverage worldwide, with more than 400 billion cups of annual consumption. Coffee is the second most traded commodity in the world.

The instant coffee sector outlook is bright as consumers increasingly value instant coffee’s simplicity of preparation. The increasing trend of preferring speed and convenience over orthodoxy has induced consumers to choose instant coffee for daily domestic and office use. At present, the worldwide instant coffee business is USD 24 bn.

Euromonitor International also reported that over 67% of Eastern Europe’s coffee sales value came from instant coffee, compared to 29% in Western Europe and 13% in North America. In many countries other than the US, instant coffee is the primary form of coffee consumption. The instant coffee share in the UK is 81% and in Japan 63%.

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Lab Equipment

· Material Handling

· Fire Fighting

· Vehicles

· Office Equipment

· Furniture and Fixtures

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31.12.2012

(Rs. in millions)

Sr. No.	Particular	3 Months Ended	Preceding 3 months ended	Nine months ended
		31.12.2012 (Unaudited)	30.09.2012 (Unaudited)	31.12.2012 (Unaudited)
1.	Net Sales/Income from Operations	1640.312	1259.742	4277.061
	Other Operating Income	4.733	3.842	9.322
	Total Income from Operations (Net)	1645.045	1263.584	4286.383
2.	Expenditure
	Cost of Material Consumed	1053.288	783.894	2643.994
	Packing Materials Consumed	102.238	67.574	234.749
	Change in Inventories of Finished Goods, Work-In-Progress and Stock In Trade	(129.855)	(28.859)	(117.896)
	Stores, Power and Fuel Consumed	130.921	85.267	305.706
	Employee Benefits Expenses	47.949	38.533	125.631
	Depreciation and Amortization Expenses	41.229	39.900	120.911
	Other Expenses	94.188	46.878	280.834
	f) Total	1339.958	1033.187	3593.929
3.	Profit From Operations before Other Income, Interest and Exceptional Items (1-2)	305.087	230.397	692.454
4.	Other Income	--	--	--
5.	Profit Before Interest and Exceptional Items (3+4)	305.087	230.397	692.454
6.	Interest	35.209	30.729	91.955
7.	Profit After Interest but before Exceptional Items (5-6)	269.878	199.668	600.499
8.	Exceptional Items	--	--	--
9.	Profit from Ordinary Activities before Tax (7+8)	269.878	199.668	600.499
10.	Tax Expense
	a) Income tax	96.300	60.000	186.300
	b) Deferred tax	2.631	1.950	8.331
11.	Net Profit from Ordinary Activities after Tax (9-10)	170.947	137.718	405.868
12.	Extraordinary Item (net of expense)	--	--	--
13.	Net Profit for the period (11-12)	170.947	137.718	405.868
14.	Paid-up Equity Share Capital (Face Value of Rs.10/- Each)	133.028	133.028	133.028
15.	Reserves Excluding Revaluation Reserve	--	--	--
16.	Basic and Diluted Earning Per Share (EPS) (Rs.)-Not Annualised
	a) Basic	12.85	10.35	30.51
	b) Diluted	12.85	10.35	30.51
17.	Public Shareholding
	-Number of Shares	8013797	8013797	8013797
	- Percentage of Shareholding	60.24%	60.24%	60.24%
18.	Promoters and Promoter Group Shareholding
	a) Pledged/Encumbered
	- Number of Shares	--	--	--
	- Percentage of Shares (as a % of the Total Shareholding of promoter and promoter group)	--	--	--
	- Percentage of Shares (as a % of the Total Share Capital of the Company)	--	--	--
	b) Non Encumbered
	- Number of Shares	5288995	5288995	5288995
	- Percentage of Shares (as a % of the Total Shareholding of Promoter and Promoter Group)	100.00%	100.00%	100.00%
	- Percentage of Shares (as a % of the Total Share Capital of the Company)	39.76%	39.76%	39.76%

Particulars	3 Months ended
Pending at the beginning of the quarter	Nil
Received during the quarter	18
Disposed of during the quarter	18
Remaining unresolved at the end of the quarter	Nil

NOTES

1. The above financial results were considered and approves by the Board of Directors at their meeting held on 5^th February, 2013.

2. The Standalone Financial results were reviewed by the Statutory Auditors as per Clause – 41 of listing agreement.

3. The entire operations of the company relate to only one segment viz, Coffee and Coffee related products. Hence, segmental reporting as per AS-17 is not made.

4. Previous year’s / period’s figures have been regrouped / rearranged / recast wherever necessary.

WEB SITE DETAILS

BOARD OF DIRECTORS

Mr. Challa Rajendra Prasad - Chairman and Managing Director

Mr. Challa Rajendra Prasad is an Engineer-Technocrat-Entrepreneur having more than 25 years of industrial experience and more than 20 years of experience in International Coffee Industry. CCL Products (formerly known as M/s. Continental Coffee Limited) was promoted by Mr. Prasad in 1995.

Mr. Prasad is reckoned as a Pioneer and First Entrepreneur in India to have placed Indian Soluble Coffee in the hard currency world markets.

Mr. Prasad was the Promoter Managing Director of Asian Coffee Limited, set up in 1989, which was the first Indian non-multi-national owned company engaged in the business of producing instant coffee. He was instrumental in Asian Coffee Limited achieving the distinction of being the first recipient of assistance in India from the Commonwealth Development Corporation, United Kingdom.

Mr. Prasad has been, in the past, also closely associated with two other coffee projects, one in Singapore and the other in Dunstable, UK.

In recognition of his eminence in the Coffee Industry, Mr. Prasad was appointed as a Member the Coffee Board of India by the Ministry of Commerce, Government of India for three consecutive terms from 1990 to 1999. He was also appointed as the Special Invitee to the Coffee Board of India in the year 2004. Mr. Prasad is currently a member of the Coffee Board of India, having being appointed for a three year term in 2009.

Mr. Prasad also holds Directorship in several companies, engaged in diverse businesses.

Mr. C. Srishant - Executive Director

Mr. C. Srishant is a lawyer by education, having graduated in Law from the National Academy of Legal Studies And Research (NALSAR), University of Law, Hyderabad. He also holds a Diploma in Information Technology Laws from the Asian School of Cyber Laws.

He was awarded a gold medal in Corporate Law at the NALSAR, University of Law and was also Andhra Pradesh State topper and gold medalist in Mathematics prior to that.

Mr. C. Srishant has more than 7 years experience in the coffee industry alone and he also holds Directorships in several national and international companies across the world, engaged in diverse businesses ranging from manufacturing to construction to Information Technology.

Mr. Jonathan T. Feuer- Director

Mr. Jonathan T. Feuer is a businessman by profession and is the President of a privately held firm, LMZ Soluble Coffee Incorporated, a New York, an importer and manufacturer's representative specializing exclusively in the trade of soluble coffee. Mr. Feuer joined the firm in 1977, and has held the position of President and CEO since 1990.

Mr. Feuer holds over 3 decades experience and expertise in the industry, and has held membership in the Green Coffee Association of New York, the Pacific Coast Coffee Association, the Tea and Coffee Association of Canada and the National Coffee Association of the USA. He has served in various roles in all of these trade associations. Most notably, Mr. Feuer has served as a Director of the National Coffee Association of the USA for the past 15 years, during which time, he has served as Treasurer and Chairman from 2008-2010. The NCA is the foremost trade association serving all sectors of the coffee industry in North America, and represents the industry and government in all international forums such as International Coffee Organization (ICO).

A former director of Asian Coffee Limited (presently Tata Coffee Limited), Mr. Feuer has been on the Board of CCL Products (India) Limited since 1994. Mr. Feuer is one of the Foreign Collaborators of the Company. In addition, Mr. Feuer has served as Director of various charitable organizations.

Mr. Feuer travels extensively to South America, Southeast Asia, Europe and India in connection with the soluble coffee business.

Mr. Zafar Saifullah - Chairman - Audit Committee and Member - Investor Grievances and Remuneration Committees

Mr. Zafar Saifullah was an illustrious member of the Indian Administrative Service, having held the top most post of the Cabinet Secretary to the Government of India. Mr. Saifullah has held various positions of responsibility in the Government of India, several State Governments and several Public Sector Undertakings, including:

· Special Assistant to Minister for Industrial Development, Government of India.

· Advisor to the Governor of Haryana.

· Development Commissioner and Additional Chief Secretary, Government of Karnataka.

· Chairman, Mumbai Port Trust.

· Managing Director, Trade Fair Authority of India (now ITPO)

· Secretary, Rural Development and Cooperation Department, Government of Karnataka.

· Chairman and Managing Director, Mysore Paper Mills Limited.

· Chairman and Managing Director, Karnataka State Industrial Investment and Development Corporation.

· Managing Director, Trade Fair Authority of India (now ITPO)

· Managing Director, Gauribidanur Corporation Sugar Factory Limited

· Director of Industires and Commerce, Govt.of Karnataka

· General Manager, National Mineral Development Corporation Limited

Mr. Saifullah is the Chairman of the Audit Committee and Member of the Investor Grievances and Remuneration Committees of the Company

Mr. I.J. Rao, IRS (Retd.) - Chairman - Investor Grievances Committee and Member - Audit and Remuneration Committees.

Mr. I.J. Rao is a Gold Medalist in M.A. (Economics) from Andhra University. He was a lecturer in a college and thereafter joined the Indian Customs and Excise service in 1955. Mr. Rao served as the Collector of Central Excise at Guntur, Madras and Kanpur. He also served as the Collector of Customs at Kolkata.

Mr. Rao joined the Customs, Excise, Gold (Control) Appellate Tribunal (CEGAT), Delhi in March 1983 and retired in 1991 as the Vice-President of the Tribunal.

Mr. Rao has authored hundreds of short stories, several novels, radio plays and was awarded with Prathiba Puraskaram for 1998 for his short story/novel by Potti Sriramulu Telugu University, Hyderabad. Mr. Rao has also authored numerous articles on finance, revenue and taxation, which were published in leading newspapers like the Statesmen (Kolkatta), Economic Times (Bombay), Business standard (Kolkatta), Excise Law Times (Delhi), etc.

Mr. Rao is the Chairman of the Investor Grievances Committee and \Member - Audit and Remuneration Committees

Mr. Vipin K Singal - Director

Mr. Vipin K. Singal is a businessman by profession. He completed his Graduation in Agricultural Engineering from Punjab Agricultural University.

Mr. Singal heads the Delhi Express Travels Group, which is engaged in arranging international air tickets - business and leisure, inbound tourism, outbound holidays, cruises, hotels and resorts in India, domestic tourism and promotion and marketing of Eurail in India. He has been associated with travel and tourism industry for the last 3 decades, affording him vast experience in the field of business and management.

Mr. Singal is a member of the Audit, Investor Grievances and Remuneration Committees of the Company

Mr. K. Chandrahas - Director

Kata Chandrahas studied M.Sc. (Physics) in India and MBA from the United Kingdom. He was selected for the Indian Revenue Service in 1976 and served the Income Tax Department at Hyderabad, Delhi, Chennai, Pune, Allahabad and Nagpur in various positions until his retirement as the Chief Commissioner of Income Tax, Chennai in September, 2009. He served as Under Secretary in the Finance Ministry, New Delhi during 1984-85 and as Personal Secretary to the Union Minister of State for Finance during 1985-88.

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. 54.48
UK Pound	1	Rs. 82.71
Euro	1	Rs. 72.23

INFORMATION DETAILS

Report Prepared by :

DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	8
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		60

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.