MIRA INFORM REPORT

Report Date :

19.11.2013

IDENTIFICATION DETAILS

Name :	ANDHRA ORGANICS LIMITED
Registered Office :	Plot No. 8, S. V. Co-operative Industrial Estate, I.D.A, Jeedimetla, Hyderabad – 500055, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	11.02.1991
Com. Reg. No.:	01-012314
Capital Investment / Paid-up Capital :	Rs. 45.117 Millions
CIN No.: [Company Identification No.]	U24116AP1991PLC012314
TAN No.: [Tax Deduction & Collection Account No.]	HYDA02175F
PAN No.: [Permanent Account No.]	AABCA8911E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Chemicals Products.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 4880000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a subsidiary of ‘Virchow Healthcare Private Limited’. It is an established company having a fine track record. Financial position of the company appears to be decent. Overall fundamental of the company appears to be sound and healthy. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6 % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term fund based limits : A+
Rating Explanation	Adequate degree of safety and low credit risk
Date	December 2012

Rating Agency Name	ICRA
Rating	Short term non fund based limits : A1+
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	December 2012

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE

[CONTACT NO. 91-40-23196999]

LOCATIONS

Registered Office :	Plot No. 8, S. V. Co-operative Industrial Estate, I.D.A, Jeedimetla, Hyderabad – 500055, Andhra Pradesh, India
Tel. No.:	91-40-23196999
Fax No.:	91-40-23196777
E-Mail :	taxation@virchows.com info@andhraorganics.com purchase@andhraorganics.com finance@andhraorganics.com
Factory :	Plot No. 110A, IDA, Pyadibhimavaram, Ranastalam Mandal, Srikakulam District, Andhra Pradesh, India
Tel. No.:	91-8942-288215
Fax No.:	91-8942-288151

DIRECTORS

AS ON 26.09.2013

Name :

Mundla Sudha

Designation :

Director

Address :

Plot No. 15A, Road No.2, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

19.04.1982

Date of Appointment :

20.03.2006

DIN No.:

00054013

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24232AP1982PLC003368	VIRCHOW LABORATORES LIMITED	Director	14/03/2002	14/03/2002	Active	NO
2	U24299AP2002PTC039653	EMMENNAR PHARMA PRIVATE LIMITED	Director	23/09/2002	23/09/2002	Active	NO
3	U24116AP1991PLC012314	ANDHRA ORGANICS LIMITED	Director	20/03/2006	20/03/2006	Active	NO
4	U23209AP2003PTC041101	VIRCHOW PETROCHEMICAL PRIVATE LIMITED	Whole-time director	01/04/2008	27/09/2006	Active	NO
5	U24239AP2004PLC042949	VIRCHOW DRUGS LIMITED	Director	29/09/2009	31/03/2009	Active	NO

Name :

Mundla Narayana Reddy

Designation :

Director

Address :

Plot No. 15A, Road No.2, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

01.06.1951

Qualification :

M Sc

Date of Appointment :

08.09.2004

PAN No.:

ABYPN4171A

DIN No.:

00064392

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	U24232AP1982PLC003368	VIRCHOW LABORATORES LIMITED	Managing director	01/06/2011	20/01/1982	-	Active	NO
2	U24210AP2001PTC036520	VIRCHOW BIOTECH PRIVATE LIMITED	Director	04/04/2001	04/04/2001	-	Active	NO
3	U74210AP1974PTC001733	IMEX ENGINEERING COMPANY PRIVATE LIMITED	Director	18/10/2001	18/10/2001	-	Active	YES
4	U24230AP2002PTC039606	COVALENT LABORATORIES PRIVATE LIMITED	Director	15/05/2003	15/05/2003	-	Active	NO
5	U23209AP2003PTC041101	VIRCHOW PETROCHEMICAL PRIVATE LIMITED	Director	04/06/2003	04/06/2003	-	Active	NO
6	U24239AP2004PLC042949	VIRCHOW DRUGS LIMITED	Director	25/03/2004	25/03/2004	-	Active	NO
7	U24116AP1991PLC012314	ANDHRA ORGANICS LIMITED	Director	08/09/2004	08/09/2004	-	Active	NO
8	U24110AP2005PTC046609	EMMENNAR CHEM PRIVATE LIMITED	Director	22/06/2005	22/06/2005	-	Amalgamated	NO
9	U45200AP2005NPL045814	HYDERABAD PHARMA INFRASTRUCTURE AND TECHNOLOGIES	Director	21/12/2006	21/12/2006	17/01/2011	Active	NO
10	U24230MH2007PTC176048	VIRCHOW HEALTHCARE PRIVATE LIMITED	Director	20/11/2007	20/11/2007	-	Active	NO
11	U24299AP2002PTC039653	EMMENNAR PHARMA PRIVATE LIMITED	Director	10/03/2008	10/03/2008	01/10/2013	Active	NO
12	U74999AP2007PLC052432	SV'S REMEDIES LIMITED	Director	29/09/2012	16/05/2012	-	Active	NO

Name :

Sree Phani Kumar Reddy Mallidi

Designation :

Director

Address :

Padmaja Palace, Flat No. 401, Srinagar Colony, Hyderabad, Andhra Pradesh, India

Date of Birth/Age :

26.10.1971

Date of Appointment :

08.09.2004

PAN No.:

APWPM0197D

DIN No.:

00307899

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	U24129AP1976PTC002072	CORAMANDEL INFRASTRUCTURE PRIVATE LIMITED	Managing director	07/09/1996	07/09/1996	03/11/2007	Active	NO
2	U85195AP1988PLC008172	SARACA LABORATORIES LIMITED	Director	09/05/1997	09/05/1997	-	Active	NO
3	U24116AP1991PLC012314	ANDHRA ORGANICS LIMITED	Director	08/09/2004	08/09/2004	-	Active	NO
4	U24232AP2007PTC053072	LUCID MEDICAL DIAGNOSTICS PRIVATE LIMITED	Director	09/03/2007	09/03/2007	01/11/2010	Active	NO
5	U85100AP2010PTC066965	LUCID DIAGNOSTIC SOLUTIONS PRIVATE LIMITED	Director	10/02/2010	10/02/2010	24/12/2010	Active	NO
6	U85191AP2011PTC075961	LUCID DIAGNOSTICS CENTRE PRIVATE LIMITED	Director	12/08/2011	12/08/2011	-	Active	NO
7	U01119AP2003PTC041228	SRI ANA BHASKARA AGRO FARMS PRIVATE LIMITED	Additional director	13/03/2012	13/03/2012	-	Active	NO
8	U45200AP2003PTC040206	SNEHA PRAGATHI ESTATES PRIVATE LIMITED	Additional director	13/03/2012	13/03/2012	-	Active	NO
9	U45200AP1999PLC030861	MAX INFRA (I) LIMITED	Whole-time director	14/05/2012	14/05/2012	-	Active	NO

Name :

Dr. Nandigala Venkata Reddy

Designation :

Director

Address :

Plot No. 550, Road No.19, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India

Date of Birth/Age :

01.07.1943

Date of Appointment :

08.09.2004

PAN No.:

AAMPD2660H

DIN No.:

01740424

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	U65910AP1980PTC002612	NANDINI FINANCE PRIVATE LIMITED	Director	10/11/1986	10/11/1986	01/04/2013	Active	NO
2	U65910AP1985PTC005769	LVSR LEASING AND FINANCE PRIVATE LIMITED	Director	05/08/1987	05/08/1987	-	Active	NO
3	U24232AP1982PLC003368	VIRCHOW LABORATORES LIMITED.	Managing director	01/06/2011	30/09/1996	-	Active	NO
4	U24210AP2001PTC036520	VIRCHOW BIOTECH PRIVATE LIMITED	Director	04/04/2001	04/04/2001	-	Active	NO
5	U74210AP1974PTC001733	IMEX ENGINEERING COMPANY PRIVATE LIMITED	Director	18/10/2001	18/10/2001	-	Active	YES
6	U23209AP2003PTC041101	VIRCHOW PETROCHEMICAL PRIVATE LIMITED	Director	04/06/2003	04/06/2003	-	Active	NO
7	U24116AP1991PLC012314	ANDHRA ORGANICS LIMITED	Director	08/09/2004	08/09/2004	-	Active	NO
8	U72300AP2007PTC055671	MAX INFRATECH (INDIA) PRIVATE LIMITED (PART IX)	Director	25/09/2007	25/09/2007	03/11/2007	Amalgamated	NO
9	U24239AP2004PLC042949	VIRCHOW DRUGS LIMITED	Director	29/09/2009	31/03/2009	-	Active	NO

Name :

Nandigala Prasanth

Designation :

Whole-time director

Address :

Plot No. 550, Road No. 19, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India

Date of Birth/Age :

14.04.1972

Qualification :

MBA

Date of Appointment :

01.04.2011

PAN No.:

ABYPN4171A

DIN No.:

01740471

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	U24232AP1982PLC003368	VIRCHOW LABORATORES LIMITED	Director	25/10/1999	25/10/1999	-	Active	NO
2	U74210AP1974PTC001733	IMEX ENGINEERING COMPANY PRIVATE LIMITED	Director	18/10/2001	18/10/2001	-	Active	YES
3	U24230AP2002PTC039606	COVALENT LABORATORIES PRIVATE LIMITED	Director	15/05/2003	15/05/2003	-	Active	NO
4	U24116AP1991PLC012314	ANDHRA ORGANICS LIMITED	Whole-time director	01/04/2011	08/09/2004	-	Active	NO
5	U24239AP2004PLC042949	VIRCHOW DRUGS LIMITED	Director	12/09/2007	12/09/2007	-	Active	NO
6	U74999AP2007PLC052432	SV'S REMEDIES LIMITED	Director	29/09/2012	16/05/2012	-	Active	NO

Name :

Mr. Ravinder Reddy Devireddy

Designation :

Director

Address :

Plot No. 143, Siddhartha Nagar, Behind Vengalrao Nagar, Hyderabad – 500038, Andhra Pradesh, India

Date of Birth/Age :

14.08.1934

Date of Appointment :

08.09.2004

PAN No.:

AMWPM8438Q

DIN No.:

02440531

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24232AP1982PLC003368	VIRCHOW LABORATORES LIMITED	Director	30/09/1996	30/09/1996	Active	NO
2	U24116AP1991PLC012314	ANDHRA ORGANICS LIMITED	Director	08/09/2004	08/09/2004	Active	NO

Name :

Maha Vishnu Mundla

Designation :

Whole-time director

Address :

Plot No. 15/A, Road No.2, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

15.02.1987

Qualification :

MBA

Date of Appointment :

01.04.2011

PAN No.:

AMWPM8438Q

DIN No.:

02470664

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U85195AP1988PLC008172	SARACA LABORATORIES LIMITED	Director	17/02/2006	17/02/2006	Active	NO
2	U24116AP1991PLC012314	ANDHRA ORGANICS LIMITED	Whole-time director	01/04/2011	12/02/2011	Active	NO
3	U24110AP2005PTC046609	EMMENNAR CHEM PRIVATE LIMITED	Director	23/09/2011	27/04/2011	Amalgamated	NO
4	U24299AP2002PTC039653	EMMENNAR PHARMA PRIVATE LIMITED	Director	16/09/2011	01/08/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2013

Names of Shareholders	No. of Shares
Virchow Laboratories Limited, India	4510990
Linga Reddy Venkata Subash	100
M. Narayana Reddy	100
M. Lakshmi Prasanna	100
Nandigala Venkata Reddy	100
Nandigala Prasanth	100
D. Ravindra Reddy	100
M. S. Phani Kumar	100
Total	4511690

AS ON 26.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.98
Directors or relatives of directors	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Chemicals Products.

Products/ Services :

ITC Code No.	Product Descriptions
29350011	Sulphamethoxozole
29420090	Cis(+)Lactum

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

Andhra Bank, Somajiguda Branch, D. No. 6-3-352/2, Astral Heights, Road No 1, Banjara Hills, Hyderabad - 500034, Andhra Pradesh, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Term loans from others	279.682	21.317
Working capital loans from banks	259.250	98.859
Total	538.932	120.176

Banking Relations :	--
Auditors :
Name :	M V Narayana Reddy and Company Chartered Accountants
Address :	8-3-941, Flat No. 504, Vijayasree Apartments, Ameerpet, Hyderabad – 500073, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AADFM4830F
Associates :	· Virchow Chemicals Private Limited [U65910AP1988PTC008596] · Imex Engineering Company Private Limited [U74210AP1974PTC001733] · Virchow Petrochemical Private Limited [U23209AP2003PTC041101] · Virchow Drugs Limited [U24239AP2004PLC042949] · Emmennar Pharma Containers Private Limited [U21014AP2001PTC037859] · Emmennar Chem Private Limited [U24110AP2005PTC046609] · Emmennar Pharma Private Limited [U24299AP2002PTC039653] · Saraca Laboratories Limited [U85195AP1988PLC008172]
Holding company :	Virchow Laboratores Limited [U24232AP1982PLC003368]

CAPITAL STRUCTURE

AS ON 31.03.2013

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
4,511,690	Equity Shares	Rs. 10/- each	Rs. 45.117 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	45.117	45.117	45.117
(b) Reserves & Surplus	1176.076	1069.424	962.925
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1221.193	1114.541	1008.042
(3) Non-Current Liabilities
(a) long-term borrowings	607.669	588.169	395.169
(b) Deferred tax liabilities (Net)	153.541	145.971	142.447
(c) Other long term liabilities	0.000	0.000	1.810
(d) long-term provisions	6.446	5.379	4.338
Total Non-current Liabilities (3)	767.656	739.519	543.764
(4) Current Liabilities
(a) Short term borrowings	703.148	122.104	328.065
(b) Trade payables	68.840	12.693	64.942
(c) Other current liabilities	95.765	39.406	38.396
(d) Short-term provisions	61.122	53.230	118.146
Total Current Liabilities (4)	928.875	227.433	549.549
TOTAL	2917.724	2081.493	2101.355
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1000.027	1038.654	1046.809
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	373.677	219.385	52.186
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	8.342	7.510	9.134
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1382.046	1265.549	1108.129
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	288.165	349.139	216.678
(c) Trade receivables	910.610	212.179	528.336
(d) Cash and cash equivalents	12.741	21.929	12.231
(e) Short-term loans and advances	257.748	171.955	130.632
(f) Other current assets	66.414	60.742	105.349
Total Current Assets	1535.678	815.944	993.226
TOTAL	2917.724	2081.493	2101.355

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations	2404.452	2394.796	2587.024
		Other Income	22.727	21.289	11.093
		TOTAL (A)	2427.179	2416.085	2598.117
Less	EXPENSES
		Cost of materials consumed	1755.493	1807.389	1812.478
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(4.943)	(34.829)	(23.738)
		Employee benefit expense	69.676	67.985	45.588
		Other expenses	315.835	330.189	331.857
		TOTAL (B)	2136.061	2170.734	2166.185
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		291.118	245.351	431.932
Less	FINANCIAL EXPENSES (D)		64.604	31.158	26.805
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		226.514	214.193	405.127
Less/ Add	DEPRECIATION/ AMORTISATION (F)		57.990	56.354	52.684
	PROFIT BEFORE TAX (E-F) (G)		168.524	157.839	352.443
Less	TAX (H)		61.873	51.340	110.994
	PROFIT AFTER TAX (G-H) (I)		106.651	106.499	241.449
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1067.424	960.925	719.476
	BALANCE CARRIED TO THE B/S		1174.075	1067.424	960.925
	EARNINGS IN FOREIGN CURRENCY
		Earnings in Foreign Currency on FOB Basis	1200.962	1174.112	1069.133
	IMPORTS
		Raw Materials	310.030	553.867	455.542
		Capital Goods	0.000	8.616	0.000
		Commission Expenses	0.788	2.380	0.000
		Interest paid for packing credit	5.459	2.868	0.000
		Other Expenses	1.101	2.354	10.302
	TOTAL IMPORTS		317.378	570.085	465.844
	Earnings Per Share (Rs.)		23.64	23.61	53.52

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	4.39	4.41	9.29
Net Profit Margin (PBT/Sales)	(%)	7.01	6.59	13.62
Return on Total Assets (PBT/Total Assets}	(%)	6.62	8.48	17.20
Return on Investment (ROI) (PBT/Networth)		0.14	0.14	0.35
Debt Equity Ratio (Total Debt/Networth)		1.07	0.64	0.72
Current Ratio (Current Asset/Current Liability)		1.65	3.59	1.81

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	Yes
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	Yes

LITIGATION DETAILS

WA 1030 / 2013

WASR 48636 / 2013

CASE IS:PENDING

PETITIONER		RESPONDENT
APEPDCL, VISAKHAPATNAM & 2 OTHERS	VS	M/S.ANDHRA ORGANICS LTD, HYD & 11 OTHERS
PET.ADV. : JYOTHI ESWAR GOGINENI		RESP.ADV. : GUNARANJAN
SUBJECT: A.P.D.D.C.F.LTD.(MISC.MATTERS)		DISTRICT:  HYDERABAD

FILING DATE:  25-03-2013		POSTING STAGE :  INTERLOCUTORY
REG. DATE    :   08-07-2013	LISTING DATE : 03-07-2013		STATUS   :  ADMIT

HON'BLE JUDGE(S):

N.V.RAMANA

VILAS V.AFZULPURKAR

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90262119	25/03/2011 *	410,000,000.00	ANDHRA BANK	SOMAJIGUDA BRANCH, D.NO.6-3-352/2, ASTRAL HEIGHTS, ROAD NO.1, BANJARA HILLS, HYDERABAD - 500082, ANDHRA PRADESH, INDIA	B12596383
2	90261767	30/03/1999	41,060,000.00	BANK OF INDIA	VISAKHAPATNAM OVERSEAS BRANCH, 10-50-50; KISHAN BHAWAN, VISAKHAPATNAM - 530002, ANDHRA PRADESH, INDIA	-
3	90261648	30/03/1999 *	16,000,000.00	BANK OF INDIA	VISAKHAPATNAM OVERSEAS BRANCH, 10-50-50; KISHAN BHAWAN, VISAKHAPATNAM - 530002, ANDHRA PRADESH, INDIA	-
4	90261546	10/07/1999 *	1,830,000.00	BANK OF INDIA	VISAKHAPATNAM OVERSEAS BRANCH, 10-50-50; KISHAN BHAWAN, VISAKHAPATNAM - 530002, ANDHRA PRADESH, INDIA	-
5	90261384	10/07/1999 *	16,000,000.00	BANK OF INDIA	VISAKHAPATNAM OVERSEAS BRANCH, 10-50-50; KISHAN BHAWAN, VISAKHAPATNAM - 530002, ANDHRA PRADESH, INDIA	-

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Deferred sales tax loan	10.169	10.169
Intercorporate deposits	597.500	578.000
SHORT TERM BORROWINGS
Term loans from others	164.216	1.928
Total	771.885	590.097

REVIEW OF THE BUSINESS OPERATIONS

The company's leadership position in Sulphamethaxazole in key markets is continuing and the company has remained a preferred source to all its customers. Gross Sales witnessed a slight increase from Rs. 2467.388 Millions in the previous year to Rs.2491.669 Millions in the current year and earned Profit after Taxation Rs.106.700 Millions as against previous year profit of Rs.106.500 Millions.

They will make every effort to achieve the best possible results in the ensuing years.

FIXED ASSETS:

· Land

· Buildings

· Factory building

· Plant and equipment

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

· Other 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 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. 62.63
UK Pound	1	Rs. 101.06
Euro	1	Rs. 84.56

INFORMATION DETAILS

Information Gathered by :	NYA
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	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		50

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.