MIRA INFORM REPORT

Report Date :

13.05.2013

IDENTIFICATION DETAILS

Name :	ANANDA AQUA EXPORTS PRIVATE LIMITED [w.e.f.13.04.2004]
Formerly Known As :	ANANDA AGRO AND AQUACULTURE PRIVATE LIMITED
Registered Office :	D. No. 27-8-21/3, Sivarao Pet, Bhimavaram - 534202, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.07.1993
Com. Reg. No.:	01-015971
Capital Investment / Paid-up Capital :	Rs. 20.871 Millions
CIN No.: [Company Identification No.]	U05005AP1993PTC015971
PAN No.: [Permanent Account No.]	AAGCA1156Q
Legal Form :	Private Limited Liability Company
Line of Business :	Processor and Exporter of Aqua Shrimps, Black Tiger Shrimps, Pink Brown Shrimps, Deep Sea Pud Shrimps and Culture Shrimps.
No. of Employees :	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 712600
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a part of ‘Ananda Group’. It is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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

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.

INFORMATION PARTED BY

Name :	Ms. Aruna
Designation :	Finance Department
Contact No.:	91-8816-272507
Date :	13.05.2013

LOCATIONS

Registered Office :	D. No. 27-8-21/3, Sivarao Pet, Bhimavaram - 534202, Andhra Pradesh, India
Tel. No.:	91-8816-230878
Fax No.:	91-8816-272707
E-Mail :	anandagroup@gmail.com info@anandagroup.com
Website :	www.anandagroup.com
Location :	Owned
Factory :	Bhimavaram Mandalam, W.G. District, Ramayanapuram – 534239, Andhra Pradesh, India
Tel. No.:	91-8816-272607/ 272569/ 272507
Fax No.:	91-8816-272707

DIRECTORS

AS ON 30.09.2011

Name :	Uddaraju Kasi Viswanadha Raju
Designation :	Managing director
Address :	2-5-1, Siva Rao Peta (P), West Godavari, Bhimavaram - 534202, Andhra Pradesh, India
Date of Birth/Age :	11.08.1952
Date of Appointment :	08.07.1993
DIN No.:	01736604
Name :	Uddaraju Ramakrishnama Raju
Designation :	Director
Address :	2-5-1, Siva Rao Peta, West Godavari, Bhimavaram - 534202, Andhra Pradesh, India
Date of Birth/Age :	13.06.1958
Date of Appointment :	12.05.2004
PAN No.:	AGEDR6382Q
DIN No.:	02488282
Name :	Uddaraju Srinivasa Raju
Designation :	Director
Address :	2-7-4, Siva Rao Peta, West Godavari, Bhimavaram - 534202, Andhra Pradesh, India
Date of Birth/Age :	27.03.1967
Date of Appointment :	12.05.2004
PAN No.:	AGEDR6383Q
DIN No.:	02488311
Name :	Uddaraju Anand Ramesh Varma
Designation :	Director
Address :	2-7-4, Surya Bhavan, Sivaraopeta, Bhimavaram - 534202, West Godavari, Andhra Pradesh, India
Date of Birth/Age :	26.02.1972
Date of Appointment :	12.05.2004
PAN No.:	AAQPV4640K
DIN No.:	02488327
Name :	Uddaraju Muralianand Varma
Designation :	Director
Address :	2-5-14, Sivaraopeta, West Godavari, Bhimavaram - 534202, Andhra Pradesh, India
Date of Birth/Age :	29-08-1974
Date of Appointment :	12.05.2004
DIN No.:	02597467
Name :	Uddaraju Sreeram Lakshimipathi Bhoga Raju
Designation :	Director
Address :	2-7-4, Sivaraopeta, Bhimavaram, 534202, Andhra Pradesh, India
Date of Birth/Age :	27.03.1967
Date of Appointment :	12.05.2004
DIN No.:	02615898
Name :	Uddaraju Jogi Anand Varma
Designation :	Director
Address :	Siri Residency, Apartment No 601, Engineers Colony, Yellareddyguda, Hyderabad - 500016, Andhra Pradesh, India
Date of Birth/Age :	16.10.1977
Date of Appointment :	12.05.2004
PAN No.:	AAJPU6937F
DIN No.:	02702190
Name :	Uddaraju Krishna Prasad
Designation :	Director
Address :	2-5-1, Sivarao Peta, West Godavari, Bhimavaram - 534202, Andhra Pradesh, India
Date of Birth/Age :	15.05.1950
Date of Appointment :	08.07.1993
PAN No.:	AGEDR6380Q
DIN No.:	02716545
Name :	Uddaraju Suryanarayana Raju
Designation :	Director
Address :	2-7-4, Sivaraopeta, Bhimavaram - 534202, Andhra Pradesh, India
Date of Birth/Age :	10.08.1969
Date of Appointment :	12.05.2004
PAN No.:	AGEGE5266B
DIN No.:	02816686

KEY EXECUTIVES

Name :	Ms. Aruna
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Uddaraju Krishna Prasad	39440
Uddaraju Kasi Viswanadha Raju	100780
Uddaraju Ramakrishnama Raju	27170
Uddaraju Sreeram Lakshimipathi Bhoga Raju	43400
Uddaraju Suryanarayana Raju	292580
Uddaraju Srinivasa Raju	92450
U Radha Rani	75900
Uddaraju Jogi Anand Varma	214284
U Anand Kiran	13100
U Anand Raju	10100
Uddaraju Muralianand Varma	12600
Uddaraju Anand Ramesh Varma	12500
Raju Vegesna Infotech Private Limited	833333
Kalyan Varma Nambur	191296
Anand K Uddaraju	89117
Kode Srinivas	39023
Total	2087073

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	39.93
Directors or relatives of directors	60.07
Total	100.00

BUSINESS DETAILS

Line of Business :

Processor and Exporter of Aqua Shrimps, Black Tiger Shrimps, Pink Brown Shrimps, Deep Sea Pud Shrimps and Culture Shrimps.

Products :

ITC Code	Product Descriptions
23099031	Fish/ Prawns Feed

Exports :

Products :

Finished Goods

Countries :

Ø UK

Ø USA

Ø Middle East

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

80 (Approximately)

Bankers :

Ø Canara Bank, Industrial Finance Branch, 5-10-194, Chakrapani Estate, Saifabad, Kalanjali Building, Hyderabad - 500004, Andhra Pradesh, India

Ø HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India

Ø Canara Bank, PP Road, Bhimavaram, Bhimavaram - 534201, Andhra Pradesh, India

Ø Canara Bank, Sivarao Pet, Bhimavaram - 534202, Andhra Pradesh, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Loans taken for fixed assets	2.590	0.000
Working capital loans from banks	183.472	123.658
Total	186.062	123.658
Footnotes (A) Canara Bank-ODBD Rs. 31.478 Millions + Canara Bank-Packing Credit Rs. 92.180 Millions = Rs. 123.658 Millions Working Capital Facilities ? are also secured by hypothecation of stocks of raw materials, work in progress, finished goods and book debts of the company are secured by first charge on land, buildings, Plant & Machinery and other assets of the company. Further, secured by the following securities ? Second charge on Land, Buildings, Plant & Machinery and other fixed assets belonging to three partnership firms. Second charge on Land, Buildings, Plant & Machinery and other fixed assets belonging to three partnership firms. Secured by personal guarantee of all the Directors and a third party.

Banking Relations :	--
Auditors :
Name :	Rao and Sharma Chartered Accountants
Address :	27-8-29, Srirampuram, Bhimavaram, W.G District, Andhra Pradesh, India
Tel. No.:	91-8816-223386
E-Mail :	raoandsharma@gmail.com
Income-tax PAN of auditor or auditor's firm :	AAIFR6632F
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Ø AGS Aero Space Products Private Limited Ø Ananda Enterprises (India) Private Limited Ø Ananda Aqua Applications Ø Ananda Estates Ø Ananda Foods Ø Bharat Fisheries Ø Dee Vee Biological Private Limited Ø Shri Padmavathi Polymers

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2,500,000	Equity Shares	Rs. 10/- each	Rs. 25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,087,073	Equity Shares	Rs. 10/- each	Rs. 20.871 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		20.871	20.871	20.871
2] Share Application Money		45.687	0.190	10.510
3] Reserves & Surplus		111.592	89.612	83.685
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		178.150	110.673	115.066
LOAN FUNDS
1] Secured Loans		186.062	123.658	129.175
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		186.062	123.658	129.175
DEFERRED TAX LIABILITIES		0.000	0.000	1.140
FOREIGN CURRENCY MONETARY ITEM TRANSLATION DIFFERENCE LIABILITY ACCOUNT		0.000	1.083	0.000
TOTAL		364.212	235.414	245.381
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		96.456	68.785	64.836
Capital work-in-progress		13.120	0.251	1.066
INVESTMENT		16.672	0.010	6.005
DEFERRED TAX ASSETS		0.073	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	147.652	76.964	63.047
	Sundry Debtors	182.796	140.388	102.228
	Cash & Bank Balances	25.001	22.510	21.078
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	141.230	63.624	47.323
Total Current Assets		496.679	303.486	233.676
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	228.712	94.900	41.386
	Other Current Liabilities	21.627	36.763	17.707
	Provisions	8.449	5.455	1.108
Total Current Liabilities		258.788	137.118	60.201
Net Current Assets		237.891	166.368	173.475
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		364.212	235.414	245.381

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	2028.541	1345.954	968.233
		Other Income	18.534	8.760	1.831
		TOTAL	2047.075	1354.714	970.064
Less	EXPENSES
		AGEDR6388QOffice Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	2015.455	1344.401	963.411
	PROFIT BEFORE TAX		31.620	10.313	6.653
Less	TAX		9.641	4.386	2.982
	PROFIT AFTER TAX		21.979	5.927	3.671
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	904.716	541.216	414.311
	CIF VALUE OF IMPORTS		N.A.	2.119	0.000
	Earnings Per Share (Rs.)		10.53	2.84	1.76

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.07	0.44	0.38
Net Profit Margin (PBT/Sales)	(%)	1.56	0.77	0.69
Return on Total Assets (PBT/Total Assets}	(%)	5.33	2.77	2.39
Return on Investment (ROI) (PBT/Networth)		0.18	0.09	0.06
Debt Equity Ratio (Total Debt/Networth)		1.04	1.12	1.12
Current Ratio (Current Asset/Current Liability)		1.92	2.21	3.88

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
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	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

OPERATION/PERFORMANCE:

The company posted a turnover of Rs. 2028.541 Millions and other income of Rs. 185.34 Millions during the year. The company has earned Net Profit of Rs. 316.20 Millions before provision for Income tax. During the Financial Year under consideration the Directors of the Company with the support of the Members & Staff are able to achieve 34% growth in turnover.

FUTURE OUTLOOK:

The Board of Directors are seriously deliberating to establish a new processing facility. In this new facility world class IQF Machinery from Marvel Food Systems, Singapore is being Installed for Good Quality Freezing, Glazing and Glaz hardening for freezing and storing of fish and fishery products well suitable for Indian and International Markets. By installing this technology your Company is Saving Power, and Fuel.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U05005AP1993PTC015971
Name of the company	ANANDA AQUA EXPORTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	D. No. 27-8-21/3, Sivarao Pet, Bhimavaram - 534202, Andhra Pradesh, India Email: anandagroup@gmail.com
This form is for	Creation of charge
Type of charge	Immovable property Book debts Movable property (not being pledge) Others [Corporate Guarantee]
Particular of charge holder	Canara Bank, Industrial Finance Branch, 5-10-194, Chakrapani Estate, Saifabad, Kalanjali Building, Hyderabad - 500004, Andhra Pradesh, India Email: managercb2423@canarabank.com
Nature of description of the instrument creating or modifying the charge	Deed of Guarantee for overall limit - NF370 & NF371 Board Resolution Canara Bank and Indian Bank sanction letters
Date of instrument Creating the charge	13.03.2013
Amount secured by the charge	Rs. 603.800 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Canara Bank - Term Loan of Rs.334.000 Millions : Base Rate + 2.5% ie., 12.75% p.a. (presently) (floating) Indian Bank - Term Loan & EPCG of Rs.269.800 Millions : Base Rate + 4% ie., 14.20% p.a. (presently) (floating) Terms of Repayment Canara Bank Term Loan - Total tenor - Eleven years and nine months, 36 quarterly installments starting from 2nd quarter of 2015-16. Indian bank Term Loan - repayable @ total tenor of 11 years and 9 months (including 1 year 9 months of construction period + 1 year post COD moratorium and 36 quarterly installments from September 2015. Margin Canara Bank : Overall Margin is 59.76% (a) Equity Margin : 20.61% ie., Rs.263.200 Millions (b) Subsidy from Govt.: 39.15% ie., Rs.500.000 Millions Indian Bank : Cost of the Project is Rs.1277.000 Millions, Equity Margin 20.61% ie., Rs. 263.200 Millions, Subsidy from Govt., 39.15% ie., Rs.500.000 Millions Extent and Operation of the charge Corporate Guarantee issued to M/s Indus Mega Food Park Private Limited for availing term loan of Rs.334.000 Millions from Canara Bank and Rs.269.800 Millions from Indian Bank

FIXED ASSETS:

Ø Land

Ø Buildings

Ø Other building

Ø Plant and equipment

Ø Other plant and equipment

Ø Furniture and fixtures

Ø Vehicles

Ø Motor vehicles

Ø Office equipment

Ø Computer equipments

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 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. 54.54
UK Pound	1	Rs. 84.19
Euro	1	Rs. 71.11

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.