MIRA INFORM REPORT

Report Date :

24.01.2013

IDENTIFICATION DETAILS

Name :	DHANUKA AGRITECH LIMITED (w.e.f. 09.02.2007)
Formerly Known As :	DHANUKA PESTICIDES LIMITED
Registered Office :	861-862, Dhanuka Joshi Road, Karol Bagh, New Delhi – 110005
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	13.02.1985
Com. Reg. No.:	55-020126
Capital Investment / Paid-up Capital :	Rs. 100.039 Millions
CIN No.: [Company Identification No.]	L24219DL1985PLC020126
TAN No.: [Tax Deduction & Collection Account No.]	DELD00321G
PAN No.: [Permanent Account No.]	AAACD0105G
Legal Form :	It is a public limited liability company. The company’s shares are listed on the Stock Exchanges.
Line of Business :	Manufacturer of Agro Chemicals and Seeds.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (55)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 8500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having a fine track record. The company has a pan-India presence through its marketing offices in all major states in India. Financial position of the company appears to be sound and healthy. Trade relations are reported as decent. Business is active. Payment terms are 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	4/5
Rating Explanation	Superior Fundamentals
Date	29.06.2012

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 :	861-862, Joshi Road, Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-30511500/83/67
Fax No.:	91-11-32907373
E-Mail :	dhanuka@bol.net.in headoffice@dhanuka.com
Website :	http://www.dhanuka.com
Corporate Office :	14^th Floor, Building 5A, DLF Cyber Terrace, Cyber City, DLF Phase III, Gurgaon-122002, Haryana, India
Tel. No.:	91-124-3838500 (60 Lines)
Fax No.:	91-124-3838888
Factory 1 :	Village Atta, Sohna Mandkola Road, Sohna, District Mewat – 122103, Haryana, India
E-Mail :	sohnaunit@dhanuka.com
Factory 2 :	Daulatabad Road, Gurgaon-122001, Haryana, India
Tel No.:	91-124-2469138 / 139 140
E-Mail.:	gurgaonunit@dhanuka.com
Factory 3 :	D-1/A-B, Ajanta Industrial Estate, Near Sarika Paints, Viramgaon Road, at Vasna lyava, Sanand, District Ahmedabad-382170, Gujarat, India
Tel No.:	91-02717- 284567/68
E-Mail:	sanand@dhanuka.com
Factory 4 :	Plot No. l, IID Centre, SAICOP Industrial Estate, Battal Balian, Udhampur (J&K)
Tel No.:	91-1992-250156/57
Fax No.:	91-1992-250156
E-Mail.:	udhampur@dhanuka.com
Sales Office / Godowns :	Located At: Ahmedabad Akola Bangalore Cuttack Ghaziabad Guntur Hissar Hyderabad Indore Jaipur Jabalpur Kichha Kolkata Kurnool Lucknow Ludhiana Nellore Patna Pune Rai Raipur Ranchi Ravulapalem Salem Seiganganagar Thrissur Vijaywada Warangal

DIRECTORS

AS ON 13.08.2012

Name :	Mr. Mahendra Kumar Dhanuka
Designation :	Director
Address :	Plot No.95 B, E 2 Lane, Eastern Avenue, Sainik Farms, New Delhi-110062, India
Date of Birth/Age :	14.12.1954
Date of Appointment :	13.02.1985
Voter ID No.:	DL03018246318
DIN No.:	00628039

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	Company/ LLP Status	Defaulting status
1	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Managing director	14/08/2009	13/02/1985	Active	NO
2	U24100DL1993PLC052285	DHANUKA LABORATORIES LIMITED	Director	02/03/1999	02/03/1999	Active	NO
3	U51109DL2004PTC128122	GOLDEN OVERSEAS PRIVATE LIMITED	Director	05/12/2005	05/12/2005	Active	NO
4	U74994DL2006PTC147162	MADHURI DESIGNS-N-EXPORTS PRIVATE LIMITED	Director	06/03/2006	06/03/2006	Strike off	NO
5	U72200DL2006PTC147749	DHANUKA INFOTECH PRIVATE LIMITED	Director	20/03/2006	20/03/2006	Active	NO
6	U70101DL2005PTC135106	M D BUILDTECH PRIVATE LIMITED	Director	30/09/2010	04/09/2010	Active	NO

Name :	Mr. Ram Gopal Agarwal
Designation :	Whole-Time Director
Address :	Plot No.95 A, E 2 Lane, Eastern Avenue, Sainik Farms, New Delhi-110062, India
Date of Birth/Age :	30.07.1949
Date of Appointment :	10.03.1992
Voter ID No.:	DL02006156439
DIN No.:	00627386

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	U74899DL1960PLC003276	NORTHERN MINERALS LIMITED	Managing director	08/08/1980	08/08/1980	-	Amalgamated	NO
2	L34300DL1985PLC021785	HINDON MERCANTILE LIMITED	Director	20/01/1988	20/01/1988	25/03/2011	Active	NO
3	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Whole-time director	01/11/2007	10/03/1992	-	Active	NO
4	U70101DL2005PTC135107	H D REALTORS PRIVATE LIMITED	Director	20/04/2005	20/04/2005	-	Active	NO
5	U24211DL1970NPL005200	CROP CARE FEDERATION OF INDIA	Director	29/09/2005	29/09/2005	05/12/2009	Active	NO
6	U72200DL2006PTC147749	DHANUKA INFOTECH PRIVATE LIMITED	Director	20/03/2006	20/03/2006	04/09/2010	Active	NO
7	U51101DL2006PTC148516	MEGH GARM-FAB PRIVATE LIMITED.	Director	05/05/2006	05/05/2006	30/03/2010	Active	NO

Name :	Mr. Rahul Dhanuka
Designation :	Whole-Time Director
Address :	Plot No.95 A, E 2 Lane, Eastern Avenue, Sainik Farms, New Delhi-110062, India
Date of Birth/Age :	04.04.1975
Date of Appointment :	28.01.2002
Voter ID No.:	DL02006156438
DIN No.:	00150140

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	U74899DL1960PLC003276	NORTHERN MINERALS LIMITED	Whole-time director	11/12/1995	11/12/1995	-	Amalgamated	NO
2	L65921DL1984PLC018746	EXCLUSIVE LEASING AND FINANCE LIMITED	Director	20/01/1999	20/01/1999	29/03/2011	Active	NO
3	U24100DL1993PLC052285	DHANUKA LABORATORIES LIMITED	Director	02/03/1999	02/03/1999	-	Active	NO
4	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Whole-time director	01/05/2012	28/01/2002	-	Active	NO
5	U70101DL2005PTC135106	M D BUILDTECH PRIVATE LIMITED	Director	20/04/2005	20/04/2005	04/09/2010	Active	NO
6	U51109DL2004PTC128122	GOLDEN OVERSEAS PRIVATE LIMITED	Director	05/12/2005	05/12/2005	-	Active	NO
7	U72200DL2006PTC147749	DHANUKA INFOTECH PRIVATE LIMITED	Director	20/03/2006	20/03/2006	04/09/2010	Active	NO

Name :	Mr. Arun Kumar Dhanuka
Designation :	Whole-Time Director
Address :	31b, Cottage No.4, Rajpura Road, Delhi-110054, India
Date of Birth/Age :	14.05.1957
Date of Appointment :	23.05.2007
DIN No.:	00627425

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	Company/ LLP Status	Defaulting status
1	U74899DL1960PLC003276	NORTHERN MINERALS LIMITED	Whole-time director	08/08/1980	08/08/1980	Amalgamated	NO
2	U74899DL1987PTC029586	GROWTH ADVERTISING AND MARKETING PRIVATE LTD	Director	17/05/1990	17/05/1990	Active	NO
3	U24100DL1993PLC052285	DHANUKA LABORATORIES LIMITED	Director	24/02/1993	24/02/1993	Active	NO
4	U74899DL1990PTC040509	DUKE IMPEX PRIVATE LIMITED	Director	13/02/2007	13/02/2007	Active	NO
5	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Whole-time director	01/08/2008	23/05/2007	Active	NO

Name :	Mr. Mridul Dhanuka
Designation :	Whole-Time Director
Address :	Plot No.95 B, E 2 Lane, Eastern Avenue, Sainik Farms, New Delhi-110062, India
Date of Birth/Age :	20.10.1980
Date of Appointment :	23.05.2011
PAN No.:	AFEPD9167L
DIN No.:	00199441

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	U70101DL2005PTC135106	M D BUILDTECH PRIVATE LIMITED	Director	20/04/2005	20/04/2005	-	Active	NO
2	U24100DL1993PLC052285	DHANUKA LABORATORIES LIMITED	Director	06/10/2005	06/10/2005	-	Active	NO
3	U24239DL2006PTC144368	OTSUKA CHEMICAL (INDIA) PRIVATE LIMITED	Director	02/01/2006	02/01/2006	-	Active	NO
4	U74899DL1960PLC003276	NORTHERN MINERALS LIMITED	Whole-time director	15/03/2007	15/03/2007	-	Amalgamated	NO
5	L34300DL1985PLC021785	HINDON MERCANTILE LIMITED	Director	07/09/2010	16/12/2009	25/03/2011	Active	NO
6	L65921DL1984PLC018746	EXCLUSIVE LEASING AND FINANCE LIMITED	Director	10/09/2010	17/12/2009	23/05/2011	Active	NO
7	U72200DL2006PTC147749	DHANUKA INFOTECH PRIVATE LIMITED	Director	30/09/2010	04/09/2010	-	Active	NO
8	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Whole-time director	29/07/2011	23/05/2011	-	Active	NO

Name :	Mr. Shrikrishna Khetan
Designation :	Director
Address :	C 15, South Extension Part I, New Delhi-110049, India
Date of Birth/Age :	17.09.1956
Date of Appointment :	23.05.2007
DIN No.:	00157293

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	Company/ LLP Status	Defaulting status
1	U74999DL1994PLC061849	ASIAN DYNASTIES GRACE INDUSTRIES LIMITED	Director	29/09/1994	29/09/1994	Active	NO
2	U70101DL1996PTC078430	KANCHANABURI PROPERTIES AND REAL ESTATES DEVELOPMENT PRIVATE LIMITED	Director	13/05/2002	13/05/2002	Active	NO
3	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Director	26/09/2007	23/05/2007	Active	NO

Name :	Mr. Subhash Chandra Lakhotia
Designation :	Director
Address :	Lakhotia Niwas, S-128, Greater Kailash, New Delhi-110048, India
Date of Birth/Age :	23.11.1949
Date of Appointment :	30.01.2008
DIN No.:	00310162

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	L74899DL1992PLC050333	MINDA INDUSTRIES LIMITED	Director	24/03/1998	24/03/1998	-	Active	NO
2	U45201DL2006PTC146136	SWASTIK INFRATECH PRIVATE LIMITED	Director	10/02/2006	10/02/2006	10/03/2008	Active	NO
3	U70101DL2006PTC145319	REALONE DEVELOPERS PRIVATE LIMITED	Director	17/04/2006	17/04/2006	-	Active	NO
4	U17113DL1997PLC088224	SOMANI WORSTED LIMITED	Director	27/10/2006	27/10/2006	31/10/2008	Active	NO
5	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Director	04/09/2008	30/01/2008	-	Active	NO
6	AAA-0386	R. N. LAKHOTIA AND ASSOCIATES LLP	Designated Partner	18/11/2009	18/11/2009	-	Active	NO

Name :	Mr. Indresh Narain
Designation :	Director
Address :	D 7/1, Vasant Vihar, New Delhi-110057, India
Date of Birth/Age :	09.11.1944
Date of Appointment :	23.05.2007
DIN No.:	00501297

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	L65993TN1978PLC007576	CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED	Director	30/07/2007	10/07/2006	-	Active	NO
2	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Director	26/09/2007	23/05/2007	-	Active	NO
3	U72300DL1996PLC075672	INTEX TECHNOLOGIES (INDIA) LIMITED	Director	02/08/2008	01/10/2007	24/06/2012	Active	NO
4	L30007KA1991PLC039702	MINDTECK (INDIA) LIMITED	Director	11/09/2009	24/03/2009	09/11/2012	Active	NO
5	U99999UR1928NPL002455	INDIAN PUBLIC SCHOOLS SOCIETY	Director	20/10/2012	20/10/2012	-	Active	NO
6	U93090MH2006PTC165286	PINEBRIDGE INVESTMENTS TRUSTEE COMPANY (INDIA) PRIVATE LIMITED	Director	22/10/2012	22/10/2012	-	Active	NO

Name :	Mr. Subash Chander Gupta
Designation :	Director
Address :	145, Bhera Enclave, Paschim Vihar, New Delhi-110087, India
Date of Birth/Age :	11.04.1953
Date of Appointment :	22.06.2011
DIN No.:	00673252

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	U74899DL1989PTC036611	FOOTWEAR (KLICK) INDIA PRIVATE LIMITED	Director	14/06/1989	14/06/1989	-	Active	NO
2	U74899DL1994PTC061602	NU FASHION FOOTWEAR PRIVATE LIMITED	Director	11/02/1995	11/02/1995	12/10/2006	Active	NO
3	U74899DL1997PTC089790	SCG INDUSTRIES PRIVATE LIMITED	Director	22/09/1997	22/09/1997	-	Active	NO
4	U72900DL2000PTC106693	HECTOR ENTERPRISES PRIVATE LIMITED	Director	22/01/2005	22/01/2005	-	Active	NO
5	U45200DL2006PTC153625	VICTORY DUROBUILD PRIVATE LIMITED	Director	11/08/2007	11/08/2007	08/10/2007	Active	NO
6	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Director	29/07/2011	22/06/2011	-	Active	NO

Name :	Mr. Vinod Kumar Jain
Designation :	Director
Address :	D-112, Ashok Vihar, Delhi-110052, India
Date of Birth/Age :	02.08.1949
Date of Appointment :	24.03.2005
DIN No.:	01185937

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	Company/ LLP Status	Defaulting status
1	U18101DL1991PTC045412	R.J. GARMENT EXPORTS PRIVATE LIMITED	Director	20/08/1991	20/08/1991	Strike off	NO
2	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Director	24/03/2005	24/03/2005	Active	NO

Name :	Mr. Sachin Kumar Bhartiya
Designation :	Director
Address :	Flat No.602, Corner Stone Building, Filmcity Road, Goregaon (East), Mumbai-400063, Maharashtra, India
Date of Birth/Age :	01.03.1978
Date of Appointment :	13.09.2010
DIN No.:	02122147

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	U01541KA2004PTC034294	UNIBIC BISCUITS INDIA PRIVATE LIMITED	Alternate director	01/04/2008	01/04/2008	-	Active	NO
2	U93090MH2006PTC165680	RADIANT HOSPITALITY SERVICES PRAVATE LIMITED.	Nominee director	30/01/2009	30/01/2009	30/04/2012	Active	NO
3	L51900GJ1980PLC065554	SHAILY ENGINEERING PLASTICS LIMITED	Nominee director	28/09/2010	01/11/2009	-	Active	NO
4	U74140MH2006PTC160158	LIGHTHOUSE ADVISORS (INDIA) PRIVATE LIMITED	Additional director	03/11/2009	03/11/2009	-	Active	NO
5	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Director	29/07/2011	13/09/2010	-	Active	NO
6	U99999MH1981PTC025958	BOMBAY CENTRAL HOLDINGS AND TRADING COMPANY PRIVATE LIMITED	Director	16/09/2010	16/09/2010	-	Active	NO
7	U67190MH2011PTC212008	OREO CAPITAL ADVISORS PRIVATE LIMITED	Director	08/01/2011	08/01/2011	-	Active	NO

Name :	Ms. Priya Brat
Designation :	Director
Address :	E 399, Greater Kailash II, New Delhi-110048, India
Date of Birth/Age :	26.08.1936
Date of Appointment :	28.10.2002
DIN No.:	00041859

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	L34102DL1982PLC129877	EICHER MOTORS LIMITED	Director	23/07/2001	23/07/2001	-	Active	NO
2	L34100DL1955PLC079688	EICHER LIMITED	Director	30/07/2001	30/07/2001	03/05/2007	Amalgamated	NO
3	L24219DL1985PLC020126	DHANUKA AGRITECH LIMITED	Director	28/10/2002	28/10/2002	-	Active	NO
4	L15249UP1933PLC000511	DHAMPUR SUGAR MILLS LIMITED	Director	17/03/2009	13/12/2002	-	Active	NO
5	U15141CT1987PLC003777	ITARSI OILS AND FLOURS LIMITED	Director	12/09/2007	12/09/2007	-	Active	NO
6	L91990UP1990PLC011753	SOUTH ASIAN ENTERPRISES LIMITED	Director	18/09/2010	23/01/2009	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shubha Singh
Designation :	Secretary
Address :	421, Aashirwad Enclave, Plot No.104, I P Extension, Patparganj, Delhi-110092, India
Date of Appointment :	01.03.2011
PAN No.:	AEJPA3682F

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	9143750	18.28
Bodies Corporate	28365425	56.71
Sub Total	37509175	74.99
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	37509175	74.99
(B) Public Shareholding
(1) Institutions
Financial Institutions / Banks	360000	0.72
Foreign Institutional Investors	4125000	8.25
Sub Total	4485000	8.97
(2) Non-Institutions
Bodies Corporate	2862887	5.72
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	3376159	6.75
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	1212781	2.42
Any Others (Specify)	573498	1.15
Non Resident Indians	277073	0.55
Clearing Members	12705	0.03
Hindu Undivided Families	282920	0.57
Trusts	800	0
Sub Total	8025325	16.04
Total Public shareholding (B)	12510325	25.01
Total (A)+(B)	50019500	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)	50019500	0

BUSINESS DETAILS

Line of Business :

Manufacturer of Agro Chemicals and Seeds.

Products :

ITEM CODE NO.	PRODUCT DESCRIPTION
380893.90	Quizalofop Ethyl
380891.99	Cartap Hydrochloride
380891.99	Propargite

PRODUCTION STATUS (AS ON : 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Liquid	K.L	9220	9220	7730.01
Powder, Dust and Granules	MT	28240	28240	22177.74
Seed Production	MT	--	--	994.18

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India – Lead Bank, Overseas Bank, Jaeahar Vayapar Bhavan, 1, Tolstoy Marg, New Delhi-110001, India

· Centurion Bank of Punjab Limited, Karol Bagh Branch, New Delhi-110005, India

· The Hongkong and Shanghai Banking Corporation Limited, Birla House, 25, Barakhamba Road, New Delhi-110001, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
Rupee term loans from banks	6.600	26.400
Short Term Borrowings
Working capital loans from banks	219.959	377.044
TOTAL	226.559	403.444

Banking Relations :	--
Auditors :
Name :	Dinesh Mehta and Company Chartered Accountant
Address :	21, Darya Nand Road, Darya Ganj, India
PAN No.:	AAAFD3632P
Wholly Owned Subsidiaries :	· Dhanuka Agri-Solutions Private Limited
Associates :	· S.P. Enterprises Investors
Related Parties :	· Zoom Leasing and Finance Company Limited CIN No.:- L65910DL1984PLC018876 · Hindon Mercantile Limited CIN No.:- L34300DL1985PLC021785 · Exclusive Leasing and Finance Limited CIN No.:- L65921DL1984PLC018746 · Dhanuka Laboratories Limited CIN No.:- U24100DL1993PLC052285 · Golden Overseas Private Limited CIN No.:- U51109DL2004PTC128122 · Dhanuka Infotech Private Limited U72200DL2006PTC147749 · Dhanuka Private Limited U17110AP2004PTC055127 · Otsuka Chemical (India) Private Limited U24239DL2006PTC144368 · Duke Impex Private Limited · Sikkim Agro Industries Limited · Madhuri Designs-N-Exports Private Limited · M.D. Buildtech Private Limited · H.D. Realtors Private Limited · Cosmo Components Private Limited · Growth Advertising and Marketing Private Limited · Liberty Sales Private Limited · Balaji Enterprises · Shree Ram Enterprises · Passion Alliance Tempex Enterprises · Eight Reit Dhanuka Marketing Company · Chiranji Lal Dhanuka Charitable Trust · Durga Prasad Dhanuka Charitable Trust

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
70000000	Equity Shares	Rs.2/- each	Rs. 140.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50019500	Equity Shares	Rs.2/- each	Rs. 100.039 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		100.039	100.039	91.789
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2045.938	1604.730	879.439
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2145.977	1704.769	971.228
LOAN FUNDS
1] Secured Loans		226.559	403.444	269.049
2] Unsecured Loans		167.532	172.187	307.981
TOTAL BORROWING		394.091	575.631	577.030
DEFERRED TAX LIABILITIES		25.560	27.592	16.515
TOTAL		2565.628	2307.992	1564.773
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		390.433	382.952	382.283
Capital work-in-progress		2.832	7.753	4.086
INVESTMENT		152.753	0.004	0.104
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1387.585	1418.734	1113.029
	Sundry Debtors	1511.942	1377.064	955.821
	Cash & Bank Balances	87.363	49.534	20.327
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	423.536	340.171	483.998
Total Current Assets		3410.426	3185.503	2573.175
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	542.899	521.569	498.378
	Other Current Liabilities	697.516	610.919	489.899
	Provisions	150.401	135.732	406.705
Total Current Liabilities		1390.816	1268.220	1394.982
Net Current Assets		2019.610	1917.283	1178.193
MISCELLANEOUS EXPENSES		0.000	0.000	0.107
TOTAL		2565.628	2307.992	1564.773

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	5291.877	4910.029	4455.491
		Other Income	6.194	26.435	11.950
		TOTAL (A)	5298.071	4936.464	4467.441
Less	EXPENSES
		Cost of materials consumed	3192.613	3210.320	3878.631
		Purchases of stock-in-trade	258.052	306.728
		Employee benefit expense	415.589	351.869
		Other expenses	656.251	539.016
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(24.818)	(257.251)
		TOTAL (B)	4497.687	4150.682	3878.631
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		800.384	785.782	588.810
Less	FINANCIAL EXPENSES (D)		54.883	64.633	67.761
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		745.501	721.149	521.049
Less/ Add	DEPRECIATION/ AMORTISATION (F)		45.177	48.546	31.077
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		700.324	672.603	489.972
Less	TAX (H)		129.021	161.482	126.597
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		571.303	511.121	363.375
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1105.185	765.718	513.604
Less	APPROPRIATIONS
		Transfer to General Reserve	57.500	55.000	36.338
		Dividend	110.043	100.039	64.251
		Tax on Dividend	17.852	16.615	10.672
	BALANCE CARRIED TO THE B/S		1491.093	1105.185	765.718
	IMPORTS
		Raw Materials	749.213	688.140	771.507
	TOTAL IMPORTS		749.213	688.140	771.507
	Earnings Per Share (Rs.)		11.42	10.61	--

QUARTERLY RESULTS

PARTICULARS	30.06.2012	30.09.2012
	1^st Quarter	2^nd Quarter
Net Sales	1080.920	2063.140
Total Expenditure	923.340	1757.100
PBIDT (Excl OI)	157.580	306.040
Other Income	4.740	4.820
Operating Profit	162.320	310.860
Interest	9.270	6.350
Exceptional Items	0.000	0.000
PBDT	153.050	304.510
Depreciation	10.730	10.840
Profit Before Tax	142.320	293.670
Tax	30.250	56.770
Provisions and contingencies	0.000	0.000
Profit After Tax	112.070	236.900
Extraordinary Items	0.000	0.000
Prior Period Expenses	0.000	0.000
Other Adjustments	0.000	0.000
Net Profit	112.070	236.900

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	10.78	10.35	8.13
Net Profit Margin (PBT/Sales)	(%)	13.23	13.70	10.99
Return on Total Assets (PBT/Total Assets}	(%)	18.43	18.85	16.57
Return on Investment (ROI) (PBT/Networth)		0.33	0.39	0.50
Debt Equity Ratio (Total Liability/Networth)		0.84	1.10	2.03
Current Ratio (Current Asset/Current Liability)		2.45	2.51	1.84

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last 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	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	Yes

UNSECURED LOAN	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
Loans and advances from related parties	49.903	147.105
Short Term Borrowings
Other loans and advances	117.629	25.082
TOTAL	167.532	172.187

BUSINESS OPERATIONS

The south-west monsoon rainfall during 2011 was excess/normal in 92% of Total Geographical Area (TGA) and deficient in 8% TGA. The overall monsoon rainfall was 899.9 mm which is 101% of the long period average rainfall. However, there was shortfall of post-monsoon rains by about 48%. Due to the poor post monsoon rains, agrochemical industry faced a poor second half of the financial year resulting in a flat growth or moderate decline.

The Financial Year 2011-12 was quite challenging for all agri-inputs Companies due to insufficient and erratic rainfall. Further, there was no severe pest attack on the crops. Inspite of this, the Company achieved a Gross Turnover of Rs.5761.615 Millions, an increase of 6.45% over last year’s Gross Turnover of Rs.5412.255 Millions.

The Total Revenue of the Company grew by 7.33% from INR 4936.464 Millions in FY2010-11 to Rs.5298.071 Millions in FY 2011-12.

EBITDA grew by 1.86% from Rs.785.782 Millions in FY2010-11 to Rs.800.384 Millions in FY 2011-12. Further, PAT grew by 11.77% from Rs.511.121 Millions in FY2010-11 to Rs.571.303 Millions in FY 2011-12.

Despite a challenging year in FY2011-12, the Company has managed to overcome hurdles and delivered a moderate growth during the year. This was possible due to the Company’s continuous endeavour to assess the customers’ need to develop new and innovative products which deliver better value to its customers.

The Company has further strengthened its Balance Sheet and has become nearly debt-free due to its strong performance in the recent years.

They believe that building a trusted, highly-recognized Brand begins with providing high-quality products that make a notable difference in people’s lives. Marketing is responsible for generating revenue through marketing campaigns, as well as providing thought leadership to marketing officers through industry insight, market research and analysis. The Company’s marketing, promotional campaigns and public relations activities are designed to promote the Company’s Brand image.

The Company has a strong pan-India distribution network in India and during the year, has made efforts to increase it further. Company is reaching more than 2,500 distributors and 4,500 dealers directly and ultimately reaches over 10 million farmers. The Company’s marketing network is one of the best in India and their ability to penetrate even the interiors of villages has given them a distinct edge over competition.

During the FY2011-12, the Company launched 4 new products in the market: “Brigade 8% SC” and “Bombard” are Insecticides, “Vitavax Ultra” is Fungicide and “Wetcit” is a Surfactant, in technical association with a Company from Africa.

Taking a step forward, the Company has also incorporated a Wholly-Owned Subsidiary on 17^th July, 2011, in Bangladesh in the name of "Dhanuka Agri-Solutions Private Limited" in order to market its products in Bangladesh. The Subsidiary will soon start registering the products with the concerned Government departments.

The Company currently has production facilities at Gurgaon, Sanand and Udhampur with cumulative capacity of over 28,670 tonnes of solids/granules and over 8,500 KL of liquids. The Company is currently planning capacity expansion at Gurgaon and Udhampur units, involving capex outlay to the tune of Rs.70.000 Millions. This would help the Company achieve its objective of reaching a target of Rs.10000.000 Millions of gross revenue in the next three years.

FUTURE PROSPECTS

They continue to introduce new products with international and domestic tie-ups and product development. Their product development philosophy is to launch innovative products in a timely manner and then develop them rapidly to make these products even better in accordance with technological changes. They then use data and user feedback to decide if and how to invest further in those products.

The Company has a strong pipeline of six new molecules with two new molecules expected to be introduced every year during 2013, 2014 and 2015. The Company introduced new Rice herbicide “Fuzi Super” of Japan. They also introduced new Insecticide “Fluid” in collaboration with Bayer Crop Science for control of caterpillars in pulses, vegetables and rice.

Based on a new climate model developed under the Government’s Monsoon Mission project, the Indian Meteorological Department has predicted average rainfall for the South-West monsoon in 2012. The Company is, therefore, expecting good prospects for the agrochemical industry for FY 2012-13.

FIXED ASSETS

· LAND

· Plant and Machinery

· Building Factory

· Building Others

· Furniture and Fixture

· Light Vehicles

· Heavy Vehicles

· Office Appliances

· Computer

· Wind Mill

STATEMENT OF UNAUDITED DINANCIAL RESULTS FOR THE QUARTER AND HALF YEARLY ENDED 30^TH SEPTEMBER, 2012

(Rs. in millions)

Sr. No.	Particular	Quarter Ended		Half Year Ended
		30.09.2012 (Unaudited)	30.06.2012 (Unaudited)	30.09.2012 (Unaudited)
1.	Net Sales/Income from Operations	2063.142	1080.915	3144.057
2.	Expenditure
	Cost of Material Consumed	1196.509	893.762	2090.271
	Purchase of Stock In Trade	122.848	142.765	265.613
	Change in Inventories of Finished Goods, Work-In-Progress and Stock In Trade	96.034	(361.811)	(265.777)
	Employee Benefits Expenses	133.927	103.157	237.084
	Depreciation and Amortization Expenses	10.837	10.728	21.565
	Other Expenses	207.780	145.459	353.239
	f) Total	1767.935	934.060	2701.995
3.	Profit From Operations before Other Income, Interest and Exceptional Items (1-2)	295.207	146.855	442.062
4.	Other Income	4.818	4.737	9.555
5.	Profit Before Interest and Exceptional Items (3+4)	300.025	151.592	451.617
6.	Interest	6.350	9.273	15.623
7.	Profit After Interest but before Exceptional Items (5-6)	293.675	142.319	435.994
8.	Exceptional Items	--	--	--
9.	Profit from Ordinary Activities before Tax (7+8)	293.675	142.319	435.994
10.	Tax Expense	56.772	30.246	87.018
11.	Net Profit from Ordinary Activities after Tax (9-10)	236.903	112.073	348.976
12.	Extraordinary Item (net of expense)	--	--	--
13.	Net Profit for the period (11-12)	236.903	112.073	348.976
14.	Paid-up Equity Share Capital (Face Value of Rs.10/- Each)	100.039	100.039	100.039
15.	Reserves Excluding Revaluation Reserve	--	--	--
16.	Basic and Diluted Earning Per Share (EPS) (Rs.)-Not Annualised	4.74	2.24	6.98
17.	Public Shareholding
	-Number of Shares	12510325	12510325	12510325
	- Percentage of Shareholding	25.01%	25.01%	25.01%
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	37509175	37509175	37509175
	- Percentage of Shares (as a % of the Total Shareholding of Promoter and Promoter Group)	100%	100%	100%
	- Percentage of Shares (as a % of the Total Share Capital of the Company)	74.99%	74.99%	74.99%

Particulars	3 Months ended 30.09.2012
Pending at the beginning of the quarter	Nil
Received during the quarter	1
Disposed of during the quarter	1
Remaining unresolved at the end of the quarter	Nil

NOTES

1. The above unaudited financial results for the quarter and half year ended 30^th September, 2012 were reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors in their meeting held on 7^th November, 2012.

2. The demand of Company’s products depends on monsoon, pest infestation and crop patterns. Hence there may be variation in the results.

3. Segment Reporting as defined in Accounting Standard 17 is not applicable to the Company.

4. Pursuant to the Accounting Standard (AS-22) – “Accounting for taxes on income” Issued by the Institute of Chartered Accountants of India, provision for deferred taxation has been made in the Accounts.

5. Dhanuka Agri-solutions Private Limited, wholly owned subsidiary of Dhanuka Agritech Limited was Incorporated on 17^th July, 2011 and operations have not yet been started.

6. Previous Period figures have been regrouped and re-arranged wherever considered necessary.

7. The Auditors have carried out the “Limited Review” of the results for the quarter ended 30^th September, 2012.

STATEMENT OF ASSETS AND LIABILITIES

(Rs. In Millions)

PARTICULARS	30.09.2012
Equity and liabilities
Shareholders' fund
Share capital	100.039
Reserve & surplus	2394.914
Sub-total - Shareholders' funds	2494.953
Non - current liabilities
Long term borrowings	56.503
Other long term liabilities	138.474
Deferred tax liability (net)	24.775
Sub-total - Non-current liabilities	219.752
Current liabilities
Short term borrowings	303.264
Trade payables	924.052
Other current liabilities	511.665
Short term provisions	22.506
Sub-total - Current liabilities	1761.487
Total - Equity & Liabilities	4476.192
Assets
Non-current assets
Fixed assets	413.937
Non-current investment	0.013
Long term loans & advances	191.650
Sub-total - Non-current Assets	605.600
Current assets
Current Investments	25.000
Inventories	1897.166
Trade receivables	1758.846
Cash & bank balances	27.821
Short term loans & advances	161.759
Sub-total - Current Assets	3870.592
Total – Assets	4476.192

WEBSITE DETAILS

NEWS

PRESS RELEASE

CONSENT ORDER IN THE MATTER OF M/S. DHANUKA AGRITECH LIMITED

A Panel consisting of Whole Time Members, SEBI, Dr. K. M. Abraham and Shri Prashant Saran has passed a consent order dated February 03, 2010 on the application submitted by M/s. Dhanuka Agritech Limited for non compliance of Regulation 6(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 for the year 1997 and Regulation 8(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 for the year 2007. The applicant without admitting or denying guilt has remitted a sum of Rs.0.035 Millions towards settlement charges, in the matter.

DHANUKA AGRITECH LIMITED Q4 FY10-11 NET PROFIT UP 26% AT RS. 136.600 MILLIONS

New Delhi: – Dhanuka Agritech Limited, Bombay Stock Exchange listed (BSE: 507717), India’s leading crop protection solutions provider, closed the financial year ended on March 31, 2011 on a strong note registering an exponential growth of 41% increase in its consolidated net profit at Rs. 511.100 Millions as against Rs.363.300 Millions for the corresponding period last year, on the back of its strong reach among more than 10 million farmers offering its eco-friendly high quality crop care products.

Maintaining a consistent record of high growth over the years, Dhanuka Agritech registered a growth of 26% in its consolidated net profit for the fourth quarter ended March 31, 2010 at Rs. 136.600 Millions as against Rs. 108.100 Millions for the same period last year.

The firm's consolidated revenue for the March quarter of 2010-11 stood at Rs. 1280.100 Millions as against Rs. 1132.700 Millions for the same quarter last year, up by 13 %.

On a sequential basis also, the company registered growth in its quarter-on-quarter consolidated net profit of 10% over profit figures of the preceding quarter that stood at Rs.124.200 Millions in the October – December quarter (Q3 FY10-11).

For the Financial Year ended on March 31, 2011, Dhanuka recorded net revenue at Rs. 4935.900 Millions compared Rs. 4087.200 Millions in the same period in previous fiscal, up by 21%. The Board has recommended final dividend @100 % i.e. Rs.2/- per equity share of Rs.2/- each on the paid-up share capital of the Company, to be considered by share holders in forth coming AGM.

According to Mr. M K Dhanuka, Managing Director, Dhanuka Group “Our existing channel partners have played an important part in the success story and with the expansion plans of the network underway, we are sure to achieve what we are set out to – the next milestone of Rs. 10000.000 Millions turnover in the next couple of years.

We have been consistently achieving significant growth in our financials, which stems from our commitment to shareholders in terms of dividends; and to customers (farmers) by offering broad spectrum of products and services. We are further enhancing our manufacturing capabilities at Sanand (Gujarat) and Udhampur (J and K), and also undertaking modernization at other facilities with the help of high tech machineries and plant automation,” added Mr. Dhanuka.

This is in sync with the growth plans of Dhanuka that has its eyes firmly set on the next milestone of achieving the target gross turnover of Rs 10000.000 Millions in the next couple of years. With current retail and dealer base of more than 70,000 and 30 offices and warehouses across India, Dhanuka is among the top five Companies in India when it comes to branded sales.

Dhanuka Agritech Limited is engaged in manufacturing of a wide range of pesticides and Bio Fertilizers. The company manufactures a large number of herbicides/ weedicides, insecticides, fungicides, plant growth regulators, plant growth stimulants and foliar fertilizers, in various forms - dust, granules, EC, SC and WDG. The Company has four pesticides manufacturing units located at Gurgaon and Sohna (Haryana), Sanand (Gujarat) and Udhampur (J and K).

Dhanuka have around 80 brands in their portfolio and keep on adding new brands every year. The highest consumed product is Targa Super, and its contribution to the top line is more than 20%, which can be attributed to Co’s technical tie-up with Nissan Chemical Industries Limited, Japan. The top three brands contributing to Co’s revenue are: Targa Super, Caldan and Omite.

About Dhanuka Agritech Limited

Dhanuka Agritech Limited is the umbrella company for the business of Agro-Chemicals, Bio Fertilizers, and Seeds. The company reaches out to more than 10 million farmers with its eco friendly high quality crop care products. The Agri-Division has a pan-India presence through its marketing offices in all major states in India. With a dealer network of more than 6000 across India, the Group has been able to make "Dhanuka" the preferred choice of farmers.

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. 53.77
UK Pound	1	Rs. 85.13
Euro	1	Rs. 71.56

INFORMATION DETAILS

Report Prepared by :

DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		55

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.