MIRA INFORM REPORT

Report Date :

27.07.2013

IDENTIFICATION DETAILS

Name :	INDIAN POTASH LIMITED
Registered Office :	Ambal Building, III Floor, P. B. No. 738, 727, Anna Salai, Chennai-600006, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	17.06.1955
Com. Reg. No.:	18-000961
Capital Investment / Paid-up Capital :	Rs. 142.986
CIN No.: [Company Identification No.]	U14219TN1955PLC000961
TAN No.: [Tax Deduction & Collection Account No.]	CHEI00029B
Legal Form :	A Closely held Public Limited Liability Company
Line of Business :	Trader of Fertilisers and also manufacturer of Cattle Feed.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (66)

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 45700000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having good track record. Financially company appears to be strong. Liquidity position is good. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. The compay can be considered for normal business dealings at usual trade terms and condition.

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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities: A
Rating Explanation	Adequate degree of safetu amd low credit risk
Date	08.04.2013

Rating Agency Name	CARE
Rating	Short term bank facilities: A1
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	08.04.2013

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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 / Head Office :	Ambal Building, III Floor, P. B. No. 738, 727, Anna Salai, Chennai – 600006, Tamilnadu, India
Tel. No.:	91-44-28520855 / 28297869 / 28297857 / 28297327
Fax No.:	91-44-28522407
E-Mail :	rajeshkumar@potindia.com iplho@potindia.com
Website:	http://www.indianpotash.org
Factory :	Located at · Bulandshahe, Uttar Pradesh, India Saladipura, Rajasthan, India
Branch Office :	3^rd Floor, 10-B, Potash Bhawan, Rajendra Park, Pusa Road, New Delhi – 110060, India
Regional Office :	· Ahmedabad Bangalore Bhopal Bhubaneshwar Chandigarh Chennai Guwahati Jaipur Kochi Kolkata Lucknow Mumbai Patna Raipur Secunderabad

DIRECTORS

As on 03.09.2012

Name :

Mr. Harbachan Singh Bawa

Designation :

Director

Address :

Devika Tower, Ground Floor, 6 Nehru Place, New Delhi – 110019, India

Date of Birth/Age :

20.03.1931

Date of Appointment :

30.09.1981

DIN No.:

00244222

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	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Director	30/09/1981	30/09/1981	-	Active	NO
2	U85300DL1955NPL002999	THE FERTILISER ASSOCIATION OF INDIA	Director	03/03/1982	03/03/1982	-	Active	NO
3	L24124RJ1985PLC003293	CHAMBAL FERTILISERS AND CHEMICALS LIMITED	Director	07/05/1985	07/05/1985	16/09/2011	Active	NO
4	U01122GA1995PLC001751	ZUARI SEEDS LIMITED	Director	12/01/1995	12/01/1995	-	Active	NO
5	U74899DL1995PLC071074	SIMON INDIA LIMITED	Director	24/07/1995	24/07/1995	-	Active	NO
6	L65921GA1967PLC000157	ZUARI GLOBAL LIMITED	Whole-time director	01/09/2010	28/07/1995	-	Active	NO
7	U52110WB1997PLC083860	LIONEL INDIA LIMITED	Director	03/04/1997	03/04/1997	-	Active	NO
8	U11202GA2000PLC002869	ZUARI INDIAN OILTANKING LIMITED	Director	14/07/2001	14/07/2001	26/09/2008	Active	NO
9	U24129OR1981PLC001020	PARADEEP PHOSPHATES LTD	Nominee director	28/02/2002	28/02/2002	-	Active	NO
10	U24124GA2002PLC003064	ZUARI MAROC PHOSPHATES LIMITED	Director	26/04/2002	26/04/2002	-	Active	NO
11	U65993GA1995PLC001942	ZUARI INVESTMENTS LIMITED	Director	19/09/2003	19/09/2003	-	Active	NO
12	U72900KA2003PLC050528	ISG NOVASOFT TECHNOLOGIES LIMITED	Director	23/08/2004	23/08/2004	30/09/2007	Active	NO
13	U36101TN1998PLC039842	STYLE SPA FURNITURE LIMITED	Director	20/10/2004	20/10/2004	01/12/2012	Active	NO
14	U45200DL2007PLC157223	CHAMBAL INFRASTRUCTURE VENTURES LIMITED	Director	02/01/2007	02/01/2007	14/09/2011	Active	NO
15	U26941KA2007PLC054428	GULBARGA CEMENT LIMITED	Director	30/10/2007	30/10/2007	10/09/2011	Active	NO
16	U24120GA2009PLC006158	ZUARI FERTILISERS AND CHEMICALS LIMITED	Director	19/09/2011	28/10/2010	-	Active	NO
17	U65910GA2009PLC006177	ZUARI AGRO CHEMICALS LIMITED	Director	07/08/2012	20/05/2011	-	Active	NO
18	L15421WB1952PLC020577	GOBIND SUGAR MILLS LIMITED	Director	28/12/2012	21/08/2012	-	Active	NO
19	U72200TN2000PLC089255	INDIAN FURNITURE PRODUCTS LIMITED	Additional director	26/12/2012	26/12/2012	-	Active	NO

Name :

Mr. Udai Shanker Awasthi

Designation :

Nominee director

Address :

IFFCO, Saket Place, New Delhi – 110017, Delhi, India

Date of Birth/Age :

12.07.1945

Qualification :

Degree

Date of Appointment :

29.06.1993

DIN No.:

00026019

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	U85300DL1955NPL002999	THE FERTILISER ASSOCIATION OF INDIA.	Director	22/09/1989	22/09/1989	-	Active	NO
2	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Nominee director	29/06/1993	29/06/1993	-	Active	NO
3	U74899DL2000PLC107621	IFFCO-TOKIO GENERAL INSURANCE COMPANY LIMITED	Nominee director	08/09/2000	08/09/2000	-	Active	NO
4	U74999DL2004PLC124867	IFFCO KISAN BAZAR AND LOGISTICS LIMITED	Nominee director	08/03/2004	08/03/2004	-	Active	NO
5	U51909MH2003PLC140116	NATIONAL COMMODITY AND DERIVATIVES EXCHANGE LIMITED	Nominee director	03/05/2004	03/05/2004	26/04/2008	Active	NO
6	U40101DL2006PLC145401	IFFCO CHHATTISGARH POWER LIMITED	Nominee director	25/01/2006	25/01/2006	-	Active	NO
7	U32308DL2007PLC161809	IFFCO KISAN SANCHAR LIMITED	Nominee director	12/04/2007	12/04/2007	-	Active	NO
8	U45209DL2008PLC175835	IFFCO KISAN SEZ LIMITED	Nominee director	25/03/2008	25/03/2008	-	Active	NO

Name :

Mr. Balwinder Singh Nakai

Designation :

Director

Address :

Bhatinda Barmala Road, Rampura Phul, District Bhatinda, Punjab, India

Date of Birth/Age :

05.12.1934

Date of Appointment :

25.09.1993

DIN No.:

00823528

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	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Director	25/09/1993	25/09/1993	-	Active	NO
2	U60221PB1997PTC020143	BROADWAY ROADLINES PRIVATE LIMITED	Director	27/06/1997	27/06/1997	-	Active	NO
3	U74999DL2004PLC124867	IFFCO KISAN BAZAR AND LOGISTICS LIMITED	Nominee director	31/07/2012	11/02/2011	-	Active	NO
4	U74899DL2000PLC107621	IFFCO-TOKIO GENERAL INSURANCE COMPANY LIMITED	Nominee director	10/03/2011	10/03/2011	-	Active	NO

Name :

Mr. Parvinder Singh Gahlaut

Designation :

Managing Director

Address :

C -9/9156, Vasant Kunj, New Delhi – 110070, India

Date of Birth/Age :

27.07.1947

Qualification :

Degree

Date of Appointment :

01.08.2012

DIN No.:

00049401

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	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Managing director	01/08/2012	29/09/1997	-	Active	NO
2	U85300DL1955NPL002999	THE FERTILISER ASSOCIATION OF INDIA.	Director	11/12/1998	11/12/1998	-	Active	NO
3	U15203HR1992PLC034058	GOLDLINE MILKFOOD LIMITED	Nominee director	17/10/2001	17/10/2001	-	Active	NO
4	U65999DL2003PLC121571	IFFCO-TOKIO INSURANCE SERVICES LIMITED	Director	01/08/2003	01/08/2003	-	Active	NO
5	U74899DL2000PLC107621	IFFCO-TOKIO GENERAL INSURANCE COMPANY LIMITED	Nominee director	22/03/2010	22/03/2010	-	Active	NO
6	U67120DL2008PLC182140	INDIAN COMMODITY EXCHANGE LIMITED	Nominee director	27/08/2011	30/08/2010	-	Active	NO
7	U15122DL2011PLC217940	IPL SUGARS AND ALLIED INDUSTRIES LIMITED	Director	21/04/2011	21/04/2011	-	Active	NO
8	U74900TN2011PLC080295	IPL GUJARAT PORT LIMITED	Director	25/04/2011	25/04/2011	-	Active	NO

Name :

Mr. Devinder Kumar

Designation :

Nominee Director

Address :

Flat No.512, Green Heavens, Sail CGHS Limited, Plot No.35, Sector – 4, Dwarka Phase – I, New Delhi – 110045, India

Date of Birth/Age :

03.07.1953

Date of Appointment :

09.10.2001

DIN No.:

00085467

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	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Nominee director	09/10/2001	09/10/2001	-	Active	NO
2	U26941UR1971PLC003453	ALMORA MAGNESITE LIMITED	Director	28/09/2007	15/09/2006	-	Active	NO
3	U74899DL1995PLC064072	UEC SAIL INNFORMATION TECHNOLOGY LIMITED	Nominee director	13/06/2008	13/06/2008	-	Dormant	NO
4	U27104KL1969SGC002253	SAIL-SCL KERALA LIMITED	Director	30/09/2011	30/12/2010	-	Active	NO
5	U27100DL2012PTC236499	SAIL-KOBE IRON INDIA PRIVATE LIMITED	Additional director	01/06/2012	01/06/2012	-	Active	NO

Name :

Mr. Nataverlal Pitamberdas Patel

Designation :

Nominee Director

Address :

17/8, Virnagar Society, S T Workshop Road, Mehsana, Gujarat, India

Date of Birth/Age :

28.07.1936

Date of Appointment :

24.08.2007

DIN No.:

00008225

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	U74999DL2004PLC124867	IFFCO KISAN BAZAR AND LOGISTICS LIMITED	Nominee director	08/03/2004	08/03/2004	-	Active	NO
2	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Nominee director	24/08/2007	24/08/2007	-	Active	NO
3	U40101DL2006PLC145401	IFFCO CHHATTISGARH POWER LIMITED	Nominee director	18/07/2011	11/02/2011	-	Active	NO

Name :

Mr. Chandra Bhushan Paliwal

Designation :

Nominee Director

Date of Appointment :

13.01.2012

Qualification :

Degree

DIN No.:

05250565

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	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Nominee director	13/01/2012	13/01/2012	-	Active	NO
2	U85300DL1955NPL002999	THE FERTILISER ASSOCIATION OF INDIA	Director appointed in casual vacancy	20/03/2012	20/03/2012	-	Active	NO

Name :

Mr. Jarnail Singh

Designation :

Nominee Director

Address :

Punjab Markfed House, Wctor 35-B, Chandigarh-160022, Punjab, India

Date of Birth/Age :

15.03.1944

Date of Appointment :

08.08.2011

DIN No.:

01310871

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	U15421PB2000PLC024002	WAHID SANDHAR SUGARS LIMITED	Managing director	10/10/2000	10/10/2000	-	Active	NO
2	U65921PB1996PTC017784	K G CAPITAL SERVICES PRIVATE LIMITED	Director	04/06/2001	04/06/2001	-	Active	NO
3	U01110PB2005PTC027886	WAHID AGRO PRIVATE LIMITED	Director	24/01/2005	24/01/2005	-	Active	NO
4	U01110PB2005PTC028252	WAHID FOOD PRODUCTS PRIVATE LIMITED	Director	20/04/2005	20/04/2005	-	Active	NO
5	U80301PB2005PTC028260	WAHID EDUCATION PRIVATE LIMITED	Director	20/04/2005	20/04/2005	-	Active	NO
6	U70100PB2005PTC028261	WAHID LAND DEVELOPERS PRIVATE LIMITED	Director	20/04/2005	20/04/2005	-	Active	NO
7	U40100CH2008PTC031208	WSB ENERGY PRIVATE LIMITED	Director	28/04/2008	28/04/2008	-	Active	NO
8	U15310PB2011PLC034823	WAHID SANDHAR SUGAR (PHAGWARA) LIMITED	Director	11/03/2011	11/03/2011	16/06/2011	Strike off	NO
9	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Nominee director	08/08/2011	08/08/2011	-	Active	NO

Name :

Mr. Ashok Barnwal

Designation :

Nominee Director

Date of Appointment :

22.06.2012

DIN No.:

01279477

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	U02001MP1975SGC001341	MADHYA PRADESH RAJYA VAN VIKAS NIGAM LIMITED	Director	11/09/2006	11/09/2006	22/05/2008	Active	NO
2	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Nominee director	22/06/2012	22/06/2012	-	Active	NO

Name :

Mr. Atanu Chakraborty

Designation :

Nominee Director

Address :

MD’s Bunglow, Fertilisernagar, Township, P O Fertilisernager, Vadodara-391750, Gujarat, India

Date of Birth/Age :

05.04.1980

Date of Appointment :

08.08.2011

DIN No.:

01469375

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	L99999GJ1962SGC001124	GUJARAT SMALL INDUSTRIES CORPN LIMITED	Nominee director	20/04/2007	20/04/2007	-	Under liquidation	NO
2	U45201GJ2000PLC038035	CREATIVE INFOCITY LIMITED	Nominee director	21/09/2007	27/06/2007	08/03/2010	Active	NO
3	U92322GJ2007PLC052494	GUJARAT TOURISM OPPORTUNITY LIMITED	Director	31/12/2007	31/12/2007	11/04/2008	Active	NO
4	U65910GJ1980SGC003957	THE GUJARAT STATE CIVIL SUPPLIES CORPORATION LIMITED	Managing director	16/04/2008	16/04/2008	16/02/2009	Active	NO
5	U74999GJ1994SGC022952	ALCOCK ASHDOWN (GUJARAT) LIMITED	Director	30/05/2008	30/05/2008	05/09/2012	Active	NO
6	U24230GJ1982SGC005422	GUJARAT PORTS INFRASTRUCTURE AND DEVELOPMENT COMPANY LIMITED	Director	23/12/2009	10/06/2008	11/07/2011	Active	NO
7	U99999GJ1992PLC017798	GUJARAT CHEMICAL PORT TERMINAL COMPANY LIMITED	Additional director	29/08/2011	18/06/2008	-	Active	NO
8	U45203DL2006PLC155511	BHARUCH DAHEJ RAILWAY COMPANY LIMITED	Nominee director	30/06/2008	30/06/2008	28/12/2009	Active	NO
9	L63010GJ1992PLC018106	GUJARAT PIPAVAV PORT LIMITED	Director	23/06/2009	10/09/2008	20/11/2009	Active	NO
10	U63010GJ2000PTC038781	HAZIRA PORT PRIVATE LIMITED	Director	15/09/2008	15/09/2008	25/11/2009	Active	NO
11	L63090GJ1998PLC034182	ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED	Director	31/08/2009	25/10/2008	20/11/2009	Active	NO
12	U45209GJ2004PLC044779	DAHEJ SEZ LIMITED	Director	09/01/2009	09/01/2009	22/01/2010	Active	NO
13	U45209GJ2009SGC056466	GUJARAT INDUSTRIAL CORRIDOR CORPORATION LIMITED	Director	30/03/2009	30/03/2009	30/07/2011	Active	NO
14	U40109GJ2004SGC045195	GUJARAT URJA VIKAS NIGAM LIMITED	Nominee director	16/12/2009	16/12/2009	09/09/2011	Active	NO
15	U75140GJ1999SGC036051	GUJARAT URBAN DEVELOPMENT COMPANY LIMITED	Nominee director	21/12/2009	21/12/2009	13/07/2011	Active	NO
16	U65910GJ1992SGC018602	GUJARAT STATE FINANCIAL SERVICES LTD	Director	24/12/2009	24/12/2009	27/09/2011	Active	NO
17	U64990GJ1988SGC010307	GUJARAT STATE INVESTMENT LIMITED	Managing director	24/12/2009	24/12/2009	27/09/2011	Active	NO
18	U67120GJ1998SGC033768	GSFS CAPITAL AND SECURITIES LIMITED	Managing director	24/12/2009	24/12/2009	27/09/2011	Active	NO
19	L14100GJ1963SGC001206	GUJARAT MINERAL DEVELOPMENT CORPORATION LIMITED	Director	03/01/2010	03/01/2010	08/07/2011	Active	NO
20	U74999GJ1999SGC035459	GUJARAT INFORMATICS LIMITED	Director	08/01/2010	08/01/2010	21/09/2011	Active	NO
21	U65990GJ1968SGC001524	GUJARAT INDUSTRIAL INVESTMENT CORPORATION LIMITED	Director	13/01/2010	13/01/2010	17/09/2011	Active	NO
22	U23203GJ2007SGC050115	GSPC LNG LIMITED	Director	28/09/2010	04/02/2010	08/12/2011	Active	NO
23	U40102GJ2007SGC051396	BHAVNAGAR ENERGY COMPANY LIMITED	Director	07/12/2011	11/02/2010	-	Active	NO
24	L40200GJ1998SGC035188	GUJARAT STATE PETRONET LIMITED	Director	21/09/2010	02/03/2010	14/11/2011	Active	NO
25	U40108GJ2007PLC051822	TORRENT PIPAVAV GENERATION LIMITED	Director	17/08/2010	04/05/2010	-	Active	NO
26	L99999GJ1962PLC001121	GUJARAT STATE FERTILIZERS AND CHEMICALS LIMITED	Managing director	13/07/2011	13/07/2011	-	Active	NO
27	U63020GJ1998PLC035039	GUJARAT GREEN REVOLUTION COMPANY LIMITED	Nominee director	18/07/2011	18/07/2011	-	Active	NO
28	L24110GJ1976PLC002903	GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS LIMITED	Director	10/03/2012	28/07/2011	-	Active	NO
29	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Nominee director	08/08/2011	08/08/2011	-	Active	NO
30	L99999GJ1985PLC007868	GUJARAT INDUSTRIES POWER COMPANY LIMITED	Director	09/08/2011	09/08/2011	17/08/2012	Active	NO
31	U85300DL1955NPL002999	THE FERTILISER ASSOCIATION OF INDIA	Director appointed in casual vacancy	30/08/2011	30/08/2011	-	Active	NO
32	U23100GJ1999SGC035573	GSPC GAS COMPANY LIMITED	Director	06/09/2011	06/09/2011	-	Active	NO
33	U36109GJ2012PLC069694	GSFC AGROTECH LIMITED	Director	02/04/2012	02/04/2012	-	Active	NO

Name :

Mr. Satish Chandra

Designation :

Director

Address :

D-1/98, Satya Marg, New Delhi, India

Date of Birth/Age :

20.11.1961

Date of Appointment :

13.02.2012

DIN No.:

01970013

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	L32201TN1966GOI005469	MADRAS FERTILIZERS LIMITED	Managing director	20/12/2010	12/09/2008	-	Active	NO
2	L74899DL1974GOI007417	NATIONAL FERTILIZERS LIMITED	Director	23/12/2011	27/10/2008	-	Active	NO
3	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Director	13/02/2012	14/11/2008	-	Active	NO
4	L24129KL1943GOI000371	FERTILISERS AND CHEMICALS TRAVANCORE LIMITED	Director	06/05/2010	06/05/2010	12/08/2011	Active	NO
5	U85300DL1955NPL002999	THE FERTILISER ASSOCIATION OF INDIA.	Director appointed in casual vacancy	21/03/2011	21/03/2011	21/08/2012	Active	NO
6	U74899DL1978GOI008915	HINDUSTAN FERTILIZER CORPORATION LIMITED	Managing director	12/07/2012	12/07/2012	-	Active	NO
7	U74899DL1961GOI003439	FERTILIZER CORPORATION OF INDIA LIMITED	Managing director	12/07/2012	12/07/2012	-	Active	NO

Name :

Mr. Prem Chandra Munshi

Designation :

Nominee director

Address :

106, Aarya Vikash Complex, Budh Marg, Bihar-800001, Uttar Pradesh, India

Date of Birth/Age :

17.01.1962

Date of Appointment :

08.08.2011

DIN No.:

03597933

Name :

Mr. Raman Govind Rajan

Designation :

Nominee Director

Address :

Bunglow No.4, Type VI, RCF Colony, Chembur, Mumbai-400074, Maharashtra, India

Date of Birth/Age :

26.09.1957

Date of Appointment :

03.09.2012

DIN No.:

01253189

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	U74140UP1978GOI028629	PROJECTS AND DEVELOPMENT INDIA LIMITED	Director	08/01/2007	08/01/2007	02/11/2010	Active	NO
2	U85300DL1955NPL002999	THE FERTILISER ASSOCIATION OF INDIA	Director	22/01/2007	22/01/2007	-	Active	NO
3	L24110MH1978GOI020185	RASHTRIYA CHEMICALS AND FERTILIZERS LIMITED	Managing director	03/11/2010	03/11/2010	-	Active	NO
4	U26992KL2008PLC022347	FACT- RCF BUILDING PRODUCTS LIMITED	Director appointed in casual vacancy	19/11/2010	19/11/2010	08/05/2013	Active	NO
5	U24129RJ2007GOI025087	RAJASTHAN RASHTRIYA CHEMICALS AND FERTILIZERS LIMITED	Nominee director	19/11/2010	19/11/2010	-	Active	NO
6	U45202MH2009PTC193070	RCF - HM CONSTRUCTIONS SOLUTIONS PRIVATE LIMITED	Nominee director	19/11/2010	19/11/2010	-	Active	NO
7	U14219TN1955PLC000961	INDIAN POTASH LIMITED	Nominee director	03/09/2012	03/09/2012	-	Active	NO
8	L74899DL1974GOI007417	NATIONAL FERTILIZERS LIMITED	Managing director	06/01/2013	06/01/2013	-	Active	NO

KEY EXECUTIVES

Name :	Rajesh Kumar Sadangi
Designation :	Secretary
Address :	3/5, Pari Street, Choolaimedu, Chennai-600094, Tamilnadu, India
Date of Birth/Age :	01.07.1976
Date of Appointment :	01.08.2009
PAN No.:	ATNPK3444J

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 03.09.2012

Note: Shareholding details file attached

As on 03.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	28.48
Other top fifty shareholders	71.52
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Fertilisers and also manufacturer of Cattle Feed.

Products :

Item Code No. (ITC Code)	Product Description
31021000	Urea (Imported and Indigenous)
31042000	Muriate of Potash
31053000	Di-Ammonium Phosphate

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Corporate Accounts Branch, 3rd Floor, Sigappi Achi, Building, Rukmini Lakshmipathi Road, Egmore, Chennai - 600008, Tamil Nadu, India

State Bank of Hyderabad

State Bank of Patiala

Canara Bank

Bank of Baroda

Punjab National Bank

Axis Bank

IDBI Bank Limited

HDFC Bank Limited

Central Bank of India

Vijaya Bank

Allahabad Bank

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long-term Borrowing
Term loans from banks	499.700	1166.500
Short term Borrowing
Working capital loans from banks	0.177	2.750
Total	499.877	1169.250

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Chennai, Tamilnadu, India
PAN No.:	AACFD3771D
Subsidiary :	· Goldline Milkfood Limited CIN No.: U15203HR1992PLC034058 IPL Sugar and Allied Industries Limited IPL Gujarat Port Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs. 10 each	Rs.500.000 millions

Issued Capital :

No. of Shares	Type	Value	Amount
16568200	Equity Shares	Rs. 10/- each	Rs.165.682 millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14298600	Equity Shares	Rs. 10/- each	Rs.142.986 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	142.986	142.986
(b) Reserves & Surplus	11413.943	8214.680
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	11556.929	8357.666
(3) Non-current liabilities
(a) Long-term borrowings	499.700	1166.500
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	6.426	0.000
(d) long-term provisions	2.246	2.101
Total Non-current Liabilities (3)	508.372	1168.601
(4) Current liabilities
(a) Short term borrowings	65344.602	28377.006
(b) Trade payables	41661.343	26280.786
(c) Other current liabilities	8891.292	8693.486
(d) Short-term provisions	160.674	2196.009
Total Current Liabilities (4)	116057.911	65547.287
TOTAL	128123.212	75073.554
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2915.599	2203.697
(ii) Intangible Assets	63.182	62.044
(iii) Capital work-in-progress	78.304	76.256
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	209.077	171.977
(c) Deferred tax assets (net)	202.864	405.113
(d) Long-term Loan and Advances	339.316	75.809
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	3808.342	2994.896
(2) Current assets
(a) Current investments	3273.345	12516.179
(b) Inventories	30121.557	15681.863
(c) Trade receivables	61811.466	22443.473
(d) Cash and cash equivalents	25440.104	20070.655
(e) Short-term loans and advances	3517.746	1139.605
(f) Other current assets	150.652	226.883
Total Current Assets	124314.870	72078.658
TOTAL	128123.212	75073.554

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		142.986
2] Share Application Money		0.000
3] Reserves & Surplus		4497.540
4] (Accumulated Losses)		0.000
NETWORTH		4640.526
LOAN FUNDS
1] Secured Loans		308.260
2] Unsecured Loans		37418.874
TOTAL BORROWING		37727.134
DEFERRED TAX LIABILITIES		0.000
TOTAL		42367.660
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		917.025
Capital work-in-progress		350.132
INVESTMENT		45844.714
DEFERREX TAX ASSETS		170.996
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8228.341
	Sundry Debtors	25841.610
	Cash & Bank Balances	4278.365
	Other Current Assets	0.000
	Loans & Advances	1015.813
Total Current Assets		39364.129
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	37357.091
	Other Current Liabilities	6611.489
	Provisions	310.756
Total Current Liabilities		44279.336
Net Current Assets		(4915.207)
MISCELLANEOUS EXPENSES		0.000
TOTAL		42367.660

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	257730.195	204992.331	170038.079
		Other Income	2117.811	2394.565	2692.891
		TOTAL (A)	259848.006	207386.896	172730.970
Less	EXPENSES
		Cost of materials consumed	3557.997	2632.572
		Purchases of stock-in-trade	237161.787	183920.448
		Employee benefit expense	535.858	1231.029
		Expenditure on production, transportation and other expenditure pertaining to E&P activities	15468.772	13012.939
		Other expenses	8171.672	2227.992
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(14472.347)	(7278.884)
		TOTAL (B)	250423.739	195746.096	168006.884
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		9424.267	11640.800	4724.086
Less	FINANCIAL EXPENSES (D)		5208.363	4934.399	1880.008
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4215.904	6706.401	2844.078
Less/ Add	DEPRECIATION/ AMORTISATION (F)		210.856	92.942	39.264
	PROFIT BEFORE TAX (E-F) (G)		4005.048	6613.459	2804.814
Less	TAX (H)		762.250	2855.882	965.599
	PROFIT AFTER TAX (G-H) (I)		3242.798	3757.577	1839.215
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		5312.419	2196.388	990.520
Less	APPROPRIATIONS
		Transfer to General Reserve	600.000	600.000	600.000
		Dividend	35.747	35.747	28.597
		Tax on Dividend	5.799	5.799	4.750
	BALANCE CARRIED TO THE B/S		7913.671	5312.419	2196.388
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of exports	5496.158	1281.186	45.003
	TOTAL EARNINGS		5496.158	6777.344	45.003
	IMPORTS
		Raw Materials	NA	NA	134707.279
	TOTAL IMPORTS		NA	NA	134707.279
	Earnings Per Share (Rs.)		226.79	262.79	128.63

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.25	1.81	1.06
Net Profit Margin (PBT/Sales)	(%)	1.55	3.23	1.65
Return on Total Assets (PBT/Total Assets}	(%)	3.14	8.90	6.96
Return on Investment (ROI) (PBT/Networth)		0.35	0.79	0.60
Debt Equity Ratio (Total Debt/Networth)		5.70	3.53	8.13
Current Ratio (Current Asset/Current Liability)		1.07	1.10	0.89

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)	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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10342549	06/03/2012	5,000,000,000.00	ALLAHABAD BANK	41 ANNA THEATRE COMPLEX, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	B35152974
2	10279253	18/03/2011	9,500,000,000.00	BANK OF BARODA	MOUNT ROAD BRANCH, 1, CLUB HOUSE ROAD, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	B10230373
3	10243441	09/09/2010	3,000,000,000.00	ALLAHABAD BANK	INTERNATIONAL FINANCE BRANCH, ANNA THEATER BUILD ING, ANNA SALAI, CHENNAI, TAMILNADU - 600002, IN DIA	A96403340
4	10178943	09/09/2009	7,500,000,000.00	STATE BANK OF INDIA	CAG BRANCH, 64 GREAMS ROAD, CHENNAI, TAMILNADU - 600006, INDIA	A71063317
5	10164035	04/06/2009	750,000,000.00	STATE BANK OF PATIALA	MID CORPORATE BRANCH, 30 WHITES ROAD, CHENNAI, TA MIL NADU - 600014, INDIA	A64535156
6	10118626	29/07/2008	2,000,000,000.00	STATE BANK OF PATIALA	WHITES ROAD BRANCH, NO;30, WHITES ROAD, CHENNAI, TAMILNADU - 600014, INDIA	A43988757
7	10112981	16/06/2008	5,000,000,000.00	CANARA BANK	CORPORATE SERVICE BRANCH, SPENCER TOWERS, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	A41500950
8	10092062	27/02/2008	2,500,000,000.00	ALLAHABAD BANK	INTERNATIONAL BRANCH, 41 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	A33952326
9	10066562	25/10/2007 *	3,000,000,000.00	ALLAHABAD BANK	INTERNATIONAL BRANCH, 41 ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	A28572683
10	10050986	03/05/2007	2,000,000,000.00	STATE BANK OF PATIALA	30, WHITES ROAD, CHENNAI, TAMILNADU - 600014, INDIA	A15180862
11	10026138	13/11/2006	2,000,000,000.00	STATE BANK OF PATIALA	WHITES ROAD BRANCH, 30 WHITES ROAD, CHENNAI, TAMILNADU - 600014, INDIA	A06818249
12	10040188	02/03/2011 *	5,725,000,000.00	STATE BANK OF HYDERABAD	NO.37/B, WHITES ROAD, ROYAPETTAH, CHENNAI, TAMIL NADU - 600014, INDIA	B07932239
13	80023040	23/03/2006	1,925,000,000.00	VIJAYA BANK LTD	MOUNT ROAD BRANCH, CHENNAI, TAMILNADU - 600002, INDIA	-
14	80011234	29/05/2013 *	87,500,000,000.00	STATE BANK OF INDIA	CORPORATE ACCOUNTS GROUP BRANCH 3^RD FLOOR SIGAPPIACHI, BUILDING, RUKMINI LAKSHMIPATHI ROAD, EGMORE, CHENNAI, TAMILNADU - 600008, INDIA	B78097870
15	80012950	16/09/2006 *	2,000,000,000.00	ALLAHABAD BANK	INTERNATIONAL BRANCH, 41 ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	-

* Date of charge modification

GENERAL

The environment for international trade in fertilizers was not very conducive during the year 2011-12. There was substantial increase in the import prices of Potassic and Phosphatic Fertilisers to start with during the year. Then they had an abnormal and unprecedented volatility in the value of Indian rupee. The dollar rupee parity which was USD 1 = Rs.44.65s on 1.4.2011 touched the lowest level of USD 1 = Rs.54.30 on 15.12.2011and then the rupee bounced back to 1 USD = Rs.50.88 as on 31.3.2012. Although MRPs of both phosphatic and potassic fertilizers

were revised more than once during the year but there was always a time lag resulting in substantial loss to the Company. In fact, concerned about the likely adverse impact of frequent changes on small and marginal farmers, the Board advised the Management to keep the MRPs unchanged in the last four months of the year even if it resulted in erosion of the profitability which was subsequently quantified to the tune of Rs.2000.000 millions (approx.)

The performance of monsoon during 2011-12 was by and large satisfactory. Though during the South-west monsoon, the distribution of rainfall was very erratic over time and space which is evident from the fact that out of 603 districts in the country for which only 144 districts received excess, 315 districts received normal rainfall and the remaining 144 districts received deficient/scanty rainfall.

The forecast for 2012-13 by Indian Meteorological Authorities is for a normal monsoon though US and Japanese experts have predicted a weaker than normal monsoon.

FINANCIAL RESULTS FOR THE YEAR 2011-12

The Company has maintained its top line growth in the Fiscal Year 2011-12 with increased turnover of Rs.255050.000 millions as against Rs.204470.000 millions during 2010-11. The increase in turnover is mainly attributed to steep increase in MRP consequent to increase in the international price of fertilisers. There has been marginal increase of 0.11 million metric tonnes of the volume sale of all products during current year as compared to previous year. As in the past, key drivers for the growth were MOP and DAP in sustaining the growth of the company.

The Company has earned a Pre-tax Profit of Rs. 4005.000 millions and Net Profit Rs.3242.800 millions as compared to Rs.6613.500 millions and Rs.3757.600 millions during the previous year respectively. The decrease in profitability is on account of substantial depreciation of the rupee in the second half of the year and not reworking the MRP to compensate for this depreciation, in spite of increase in volume sales, better sales realization and lower interest costs.

EXTENSION AND PROMOTION ACTIVITIES

The Companys sustained effort is to provide the farming community quality fertilisers in time and in adequate quantity. The Company aims to promote balanced application of fertilisers and to emphasise the significance of the role of Potash in balanced fertiliser application. This is achieved through intensified field activities such as conducting A.V.unit programmes, field demonstrations, farmers meeting and crop seminars. Number of publicity materials on various crops in English and regional languages were distributed to the farmers. The Company carried out 222 field demonstrations covering all the states of India. Further, 95 Sales Campaigns, 160 farmers meetings and 21 crop seminars were also organized in various states. The Company had spent about Rs. 27.900 millions in achieving this and has made adequate provisions made in the budget for this activity.

PROSPECTS FOR 2012-13

The Year 2012-13 has not started on a very promising note as in spite of reduction in the global prices of DAP and unchanged MOP prices, the MRPs of these products had to be substantially increased by the Industry because of reduction in the subsidy by Government of India and a further weakening of Indian rupee which touched as low as 1 USD = Rs.56.41 in the first quarter of the year. As MRP of DAP has gone up from Rs.18200/- per MT to Rs.24000/- per MT and Potash having gone up from Rs.11300/- to Rs.16800/- per MT, the consumer resistance seems inevitable. There is a widespread feeling that consumption of Potash, which is the main product of the Company, will take a further hit over 29% decline seen during 2011/12 while Phosphatic fertilizer consumption could drop by 10/15% if not more. Of course, these estimates are subject to normal monsoon and if the monsoon turns out to be lower than normal, the consumption of all fertilizers could take a beating with adverse

repercussions on the agricultural economy of the country. Under these circumstances, a drop in the volume sales as well as turnover of the Company is on the cards. As in this adverse market, sales will have to be made on credit, the company will have to borrow more at higher rates of interest which will bring profitability under severe pressure.

However, improved results can be expected in Dairy and Cattle Feed Division with better capacity utilization and lower incidence of depreciation.

In case of Sugar Division, in spite of measures like cost reduction and all round improvement in performance, the desired turn around could not be brought about as U.P. Government pegged the Procurement Price of Sugarcane at the highest level in the country for political reasons. But small decontrol measures have already been taken by opening up of exports and it is hoped that sugar and molasses prices will improve in 2^nd and 3^rd quarter of the year.

The work on two Joint Venture Projects namely Green Field Port Facility on Gujarat Coast and Integrated Sugar Complex in Bihar has not made the desired progress. The Gujarat Government which had promised to expedite required sanctions etc., has not taken any action on their pending application for which they have been keeping the Board informed. A Litigation has stalled the progress in Bihar. But it is hoped that the stay order will be vacated by first week of July 2012 and work will resume in right earnest thereafter.

UNSECURED LOAN

Particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Short-term Borrowing
Rupee term loans from banks	65344.425	28374.256
Total	65344.425	28374.256

WEBSITE DETAILS

PRESS RELEASE

INDIAN POTASH STRIKES DEAL WITH BPC TO IMPORT MOP AT $427 A TONNE

New Delhi, Feb 6:  

Indian Potash Ltd (IPL) has signed a contract with Belarusian Potash Company (BPC) to import 1 million tonnes of muriate of potash (MOP) at $427 a tonne in the current year. The pricing of the new deal is about 15 per cent lower than the previous contract signed at $490.

BPC, a joint venture distributor of Belaruskali and Uralkali, will begin MoP supplies to IPL from this month till January 2014. “The delivery price of potash fertiliser for India has been set at $427 per tonne on CFR basis. BPC deliveries under the contract with IPL will total 1 million tonnes,” BPC said in a statement.

”We strongly believe that the agreement is bringing us one step forward in restoring potash demand and will influence positively both the domestic and global potash market,” said Valery Ivanov, CEO of BPC.

India, which is dependent on imports to meet its potash demand, has imported about 5.5 million tonnes of the nutrient in the past 18 months.

IPL, the largest domestic importer of potash, expects to negotiate with other suppliers for another million in the current year, said Managing Director, P.S. Gehlaut. “We expect to bring the MoP shipments into the country from April,” he said.

Due to the huge unsold fertiliser stocks, especially of di-ammonium phosphate, urea and other complexes, the Government had recently told fertiliser makers not to bring in any more imported nutrients in the current financial year.

INDIAN POTASH TO DIVERSIFY INTO SUGAR AND PORTS

New Delhi, July 10:  

The Rs 20,000-crore turnover Indian Potash Limited (IPL) has chalked out plans to diversify into sugar manufacturing with its recent acquisition of two sugar mills from the Uttar Pradesh Government, besides eyeing into port-related projects.

Talking to Business Line here, the IPL Managing Director, Dr P.S. Gahlaut, said that “the plus point is lot of land and the minus point is very bad work culture. So we are giving voluntary retirement scheme to people and to get good professionals and start investing. As the process of change or make-over is complete, we will install power plants.”

Investment in power

Stating that power from sugarcane base is by far the cheapest and cleanest, he said the company would invest at least Rs 700-800 crore in the next four years to set up power plants. It is also much cheaper than from giant power plants coming up all over that are based on imported coal, he said, adding that capital expenditure per megawatt is the lowest in cane-based power plants as opposed to coal-fired plants.

Dr Gahluat contends that the company handles fertiliser shipments of more than three million tonnes a year at all the major and minor ports with the core competence of IPL being its excellent stevedoring, clearing and forwarding arrangement at all the ports, matching infrastructure of port godowns, mobile bagging plants at the shores and inland storage facilities at more than 500 strategic locations.

The company plans to consolidate these inherent strengths by developing port-related projects in its ongoing expansion plans, he added. The efficient management of the entire gamut of fertiliser ship-handling and distribution to domestic retail outlets through cooperatives continue to be the mainstay of the organisation that completed six decades last year, he said.

Cattle feed

Dr Gahlaut said in recent years, IPL has diversified into high quality cattle feed and set up a production unit at Sikandarabad in Bulandshahar district of Uttar Pradesh and IPL cattle feeds had improved the milch capacity, besides facilitating healthier calving.

With farmers seeking to overcome the problems inherent in agriculture and increase their income with rearing of livestock, IPL has taken this opportunity to lend its support to them by procuring milk from the village cooperatives through its ultra modern processing at its own plants so that the final products passes a host of tests to be hygienic and wholesome.

He said the company's dairy divisions sell three lakh litres of milk a day under “dairy fresh' logo and its cattle feed plants of 250 to 300 tonnes were being scaled up.

Potash holiday

Asked about the ‘potash holiday' declared by the authorities this year in the face of unrelenting spurt in the price of potash prices, Dr Gahlaut conceded that “it is unfortunate as things stand today. We have no reserves on our own and the problem is that we deal with just two big players from overseas—Russia and Canada for our total import requirements”.

He said the price prevailing overseas has no relationship to cost and if the supplier just like that hikes it by $100, there would be a $100 increase in the price of muriate of potash (MOP). He also voiced concern that if the ‘potash holiday' continues, the company's budgeted turnover of Rs 25,000 crore for the current fiscal would suffer a knock.

MMTC tie-up

To a specific query about IPL's recent alliance with MMTC in selling the latter's gold jewellery products through its vast distribution networks across the rural India, Dr Gahlaut said that the logic was inescapable in that as fast moving consumer goods (FMCG) industry had identified rural demands for beauty parlours and gems, IPL conceived the idea of selling gold and medallions of purity to farmers who had always been taken for a ride by goldsmiths of dubious nature foisting their wares on gullible rural households.

The move would help farmers during times of difficulties too since the gold and medallion they acquire in good times could be disposed of without loss of value as the MMTC brands of jewellery and medallions were hall-marked and trusted, he said.

FIXED ASSETS

v Tangible Assets

Land Freehold

Land Leasehold

Buildings

Factory Building

Plant and Equipment

Furniture and Fixtures

Vehicles

Office Equipment

Audio Visual Van and Equipment

v Intangible Assets

Computer software

Leasehold Rights

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.58.91
UK Pound	1	Rs.90.68
Euro	1	Rs.78.22

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		66

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

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.