MIRA INFORM REPORT

Report Date :

11.03.2013

IDENTIFICATION DETAILS

Name :	ANMOL FEEDS PRIVATE LIMITED
Registered Office :	Jalan Industrial Complex, Main Gate, Junglepur, Domjur, Howrah – 711411, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.08.2001
Com. Reg. No.:	21-093568
Capital Investment / Paid-up Capital :	Rs. 12.934 Millions
CIN No.: [Company Identification No.]	U15339WB2001PTC093568
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Distributor of Animal Bird Feed Supplements.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 128000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The latest financials are not made available with the government department. As per previous year’s, the profitability of the company appears to be low. However, networth appears to be good. Trade relations are reported to be fair. Business is active. Payments are reported to be unknown. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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 :	Jalan Industrial Complex, Main Gate, Junglepur, Domjur, Howrah – 711411, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	mgnco@vsnl.net
Website :	www.anmolgroups.com
Corporate Office :	Rajju Sah Lane, Ramna, Near Devi Mandir, Harisabha Chowk, Muzaffarpur - 842002, Bihar, India
Tel. No.:	91-621-2249992/ 2244163/ 2241210
Fax No.:	91-621-2269536
E-Mail :	amitsaraogi4@gmail.com
Branch Office :	F-7, 1st Floor, East of Kailash, New Delhi – 110065, India

DIRECTORS

AS ON 29.09.2012

Name :	Mr. Pawan Kumar Sarawagi
Designation :	Director
Address :	Rajju Sah Lane, Ramna Muzzafarpur – 842002, Bihar, India
Date of Birth/Age :	30.12.1952
Date of Appointment :	08.08.2001
PAN No.:	AEOPS7805R
DIN No.:	00426328
Name :	Mr. Amit Kumar Sarawagi
Designation :	Director
Address :	Rajju Sah Lane, Ramna Muzzafarpur – 842002, Bihar, India
Date of Birth/Age :	09.03.1976
Date of Appointment :	08.08.2001
PAN No.:	ABYTS3632D
DIN No.:	00426469
Name :	Mr. Ashish Kumar Sarawagi
Designation :	Director
Address :	Rajju Sah Lane, Ramna Muzzafarpur – 842002, Bihar, India
Date of Birth/Age :	11.12.1978
Date of Appointment :	08.08.2001
PAN No.:	ASEPS6025K
DIN No.:	00426249
Name :	Mrs. Deepali Sarawagi
Designation :	Director
Address :	Rajju Sah Lane, Ramna Muzzafarpur – 842002, Bihar, India
Date of Birth/Age :	10.05.1978
Date of Appointment :	01.10.2005
DIN No.:	00426378

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Pawan Kumar Sarawagi	735450
Amit Kumar Sarawagi	456000
Ashish Kumar Sarawagi	366150
Satya Bhama Devi	187500
Deepali Sarawagi	195000
Panchkoti Impex Private Limited, India	15400
Neelgagan Projects Private Limited, India	9000
Dhansilk Promoters Private Limited, India	4000
Mahabali Sales Properties Private Limited, India	4200
Tiger Merchants Private Limited, India	4000
MGM Projects Private Limited, India	3200
Everstrong Agencies Private Limited, India	9600
Sara Dealers Private Limited, India	9000
Astabhuja Agencies Private Limited, India	13800
Amritlaxmi Construction Private Limited, India	13000
Mutual Merchants Private Limited, India	2600
Ontime Vintrade Private Limited, India	1800
Swarnsathi Marketing Private Limited, India	2000
Gaurang Vintrade Private Limited, India	5200
Dhananjay Vanijya Private Limited, India	2000
Altfort Merchants Private Limited, India	4800
Welcome Dealcom Private Limited, India	11800
Ideal Collection Private Limited, India	4500
Max Distributors Private Limited, India	6000
Prestige Vyapaar Private Limited, India	5500
Superior Vyapaar Private Limited, India	4000
Total	2075500

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	6.52
Directors or relatives of directors	93.48
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Distributor of Animal Bird Feed Supplements.

Products :

ITC Code	Product Descriptions
105910	Commercial Chicks
230990	Poultry Feed

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Poultry Feed	MT	N.A.	45,000	29,615.630
Cattle Feed	MT	N.A.	40,000	666.0000

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Union Bank of India, Muzaffarpur Branch, Muzaffarpur, Safi Daudi Market, Motijheel, P.B. 41, Muzaffarpur - 842001, Bihar, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Kotak Mahindra Prime Limited (Secured against hypothecation of Car)	0.329	0.000
Total	0.329	0.000

Banking Relations :	--
Auditors :
Name :	M. Ghuwalewala and Company Chartered Accountants
Address :	42 Zakaria Street, Kolkata – 700073, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	ACZPG4808K
Enterprises over which key managements have Substantial Interest :	Ø Hentech Agrovet Private Limited Ø Herbal Industries Ø Ashish Enterprise

CAPITAL STRUCTURE

AFTER 29.09.2012

Authorised Capital : Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 20.178 Millions

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,075,500	Equity Shares	Rs. 10/- each	Rs. 20.755 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,293,400	Equity Shares	Rs. 10/- each	Rs. 12.934 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		12.934	12.934	12.934
2] Share Application Money		2.000	0.000	0.000
3] Reserves & Surplus		17.080	14.509	12.565
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		32.014	27.443	25.499
LOAN FUNDS
1] Secured Loans		0.329	0.000	0.000
2] Unsecured Loans		0.600	7.257	8.646
TOTAL BORROWING		0.929	7.257	8.646
DEFERRED TAX LIABILITIES		1.967	1.837	2.922
TOTAL		34.910	36.537	37.067
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		37.038	20.595	32.319
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.218	0.218	0.058
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	38.614	3.588	2.833
	Sundry Debtors	85.630	8.829	1.538
	Cash & Bank Balances	3.909	2.909	3.383
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	20.621	13.929	10.720
Total Current Assets		148.774	29.255	18.474
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	129.206	10.468	8.932
	Other Current Liabilities	19.640	1.657	3.978
	Provisions	2.350	1.428	0.907
Total Current Liabilities		151.196	13.553	13.817
Net Current Assets		(2.422)	15.702	4.657
MISCELLANEOUS EXPENSES		0.076	0.022	0.033
TOTAL		34.910	36.537	37.067

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL (A)	528.826	40.305	N.A.
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	521.942	35.805	N.A.
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.884	4.500	7.732
Less	FINANCIAL EXPENSES (D)		0.256	0.527	0.784
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6.628	3.973	6.948
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.728	2.594	3.580
	PROFIT BEFORE TAX (E-F) (G)		3.900	1.379	3.368
Less	TAX (H)		1.245	(0.565)	2.858
	PROFIT AFTER TAX (G-H) (I)		2.655	1.944	0.510
	Income Tax for earlier years		(0.083)	0.000	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		7.009	5.065	4.555
	BALANCE CARRIED TO THE B/S		9.581	7.009	5.065
	Earnings Per Share (Rs.)		2.05	1.50	0.39

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.50	4.82	N.A.
Return on Total Assets (PBT/Total Assets}	(%)	2.10	2.77	6.63
Return on Investment (ROI) (PBT/Networth)		0.12	0.05	0.13
Debt Equity Ratio (Total Debt/Networth)		0.03	0.26	0.34
Current Ratio (Current Asset/Current Liability)		0.98	2.16	1.34

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	No
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Directors	0.600	1.140
From Company	0.000	5.646
Add: Interest Accrued thereon	0.000	0.471
Total	0.600	7.257

OPERATIONS

During the year, the Company earned a gross profit before depreciation amounting to Rs.6.884 Millions and net profit before tax of Rs.4.000 Millions, The gross profit was higher by 52.97% and the net profit was higher by 182.81% compared to last year. The Company started manufacturing operations from Lucknow and Ranchi through outside Job Processors which contributed to the improved results.

The profits during the year were higher owing to the substantial increase in manufacturing business of Poultry Feed undertaken by the Company during the year and aggressive marketing undertaken throughout the states of Orissa, Bihar, Uttar Pradesh, Jharkhand, West Bengal and Assam. The Company is in the process of setting up its own manufacturing operations in Lucknow which is expected to start operations during the current financial year.

Considering the overall economic scenario in the Country, the profitability and performance of the Company is found to be satisfactory.

The Company has registered a healthy trend in its sales turnover during the current year operations and barring unforeseen circumstances it expects to register a substantial growth in all the spheres.

FINANCE

The company has not availed any loan from Banks during the year.

The Directors would like to place on record their appreciation for the assistance and co-operation extended by the Bank from time to time.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U15339WB2001PTC093568
Name of the company	ANMOL FEEDS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Jalan Industrial Complex, Main Gate, Junglepur, Domjur, Howrah – 711411, West Bengal, India Email: mgnco@vsnl.net
This form is for	Creation of charge
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	Union Bank of India, Muzaffarpur Branch, Muzaffarpur, Safi Daudi Market, Motijheel, P.B. 41, Muzaffarpur - 842001, Bihar, India Email: cbsmuzfmain@unionbankofindia.com
Nature of description of the instrument creating or modifying the charge	SD-01, SD-06, SD-20, AD-02, AD-04, AD-05, AD-06, AD-10, AD-12, undertaking to CIBIL by other loan borrower, undertaking to CIBIL by other loan guarantor, sd-21g, ad-09 letter of continuity
Date of instrument Creating the charge	29.05.2012
Amount secured by the charge	Rs. 39.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base rate + 2 %p.a. Presently 12.5%p.a. monthly rest Terms of Repayment Cash credit limit- on demand Letter of credit- 90 days after DA Margin 25% stock of raw materials, WIP and finished goods as of march 2012 50% hypothecation of receivables/book debts 25% document of title to the goods imported under LC Extent and Operation of the charge First charge on entire fixed assets of Muzaffarpur Unit of the company including plant and machinery, factory shed acquired presently and to be acquired in future. Hypothecation of stock of raw material, stock in process finished stock and book debt. EM of factory l and b and shed of fresh unit of Anmol Feed Private Limited situated in Bela Industrial Area, Muzzafarpur. The property is represented by survey plot no. 16,142,143,144 and 411 (part) under Khation No 310,27,155,310,309 in Thana No.281 Others Personal guarantee of all directors
Short particulars of the property charged	EM of Bela Industrial Area, Muzzafarpur. The property is represented by survey Plot No. 16,142,143,144 and 411 (Part) Under Khation No 310, 27, 155, 310, 309 in Thana No. 281 in Bela Industrial Area. Entire fixed assets of the company including plant & machinery, factory shed acquired presently, to be acquired in future of Muzaffarpur Unit Hypothecation of stock of raw material, stock in process, finished stock and book debt

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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 54.40
UK Pound	1	Rs. 81.57
Euro	1	Rs. 71.24

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.