MIRA INFORM REPORT

(PRELIMINARY REPORT)

Report Date :

21.11.2013

IDENTIFICATION DETAILS

Name :	ANANT COMMODITIES PRIVATE LIMITED (w.e.f. 01.12.2004)
Formerly Known As :	SURAJ PROTEINS PRIVATE LIMITED
Registered Office :	Saket Tower, First Floor, 3A, Ratlam Kothi, A.B. Road, Indore – 452 001, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	05.08.2002
Com. Reg. No.:	10-015203
Capital Investment / Paid-up Capital :	Rs.9.671 millions
CIN No.: [Company Identification No.]	U15143MP2002PTC015203
PAN No.: [Permanent Account No.]	AAGCS8795K
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is presently engaged in the business of trading of various commodities like Soya Bean Meal, Indian Maize, Rice Bran, etc.
No. of Employees :	Information declined by the Management

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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Packing Credit: A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	August 23, 2013

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 :	Saket Tower, First Floor, 3A, Ratlam Kothi, A.B. Road, Indore – 452 001, Madhya Pradesh, India
Tel. No.:	91-731-2527843 / 2526845
Fax No.:	91-731-2526844 / 2526276 / 2515052 / 252505
E-Mail :	akmcafiling@gmail.com hdporwal@gmail.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Harshit Porwal

Designation :

Director

Address :

139, Tilak Path, Indore, Madhya Pradesh, India

Date of Birth/Age :

04.05.1987

Date of Appointment :

30.09.2011

PAN No.:

ATGPP5008E

DIN No.:

03570869

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	U15492MH1995PTC089679	NAVLAKHA AGREX PRIVATE LIMITED	Director	30/09/2011	22/09/2011	-	Amalgamated	NO
2	U15143MP2002PTC015203	ANANT COMMODITIES PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO
3	U04010MP1999PTC013694	CASSANDRA REALTY PRIVATE LIMITED	Director	30/09/2013	25/07/2013	-	Active	NO

Name :

Mr. Hemant Soubhagyamal Jain

Designation :

Additional Director

Address :

629, Scheme No.71, Sector-B, Near Sarafa Vidya Niketan, Sudama Nagar, Indore – 452 009, Madhya Pradesh, India

Date of Birth/Age :

18.12.1959

Date of Appointment :

09.08.2013

DIN No.:

06662196

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Shankarlal Jain	60960
Ranjna Jain	52960
Sharad Jain	52960
Surendra Jain	52960
Vijesh Jain	52960
Navlakha Agrex Private Limited, India (formerly Olympus Vision Private Limited)	240000
Pulkit Vyas	20000
Narmada Shelter Private Limited, India	434320
Total	967120

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	69.72
Other top fifty shareholders	30.28
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is presently engaged in the business of trading of various commodities like Soya Bean Meal, Indian Maize, Rice Bran, etc.

GENERAL INFORMATION

No. of Employees :

Information declined by the Management

Bankers :

· Bank of Baroda, Navlakha Branch, Indore – 452 001, Madhya Pradesh, India

· State Bank of India, Commercial Branch, Near GPO, A.B. Road, Indore – 452 001, Madhya Pradesh, India

· Indian Overseas Bank

· State Bank of India, Vishakhapatnam

· State Bank of India, Mumbai, Maharashtra, India

· State Bank of India, Kandla

· Punjab National Bank, Sitlamata Bazaar

· State Bank of India, Kakinada

· ICICI Bank Limited

· Bank of India, Mumbai, Maharashtra, India

· HDFC Bank Limited

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
SHORT-TERM BORROWINGS
Working capital loans from banks	246.884	219.182
Total	246.884	219.182

Banking Relations :	--
Auditors :
Name :	Ashok Khasgiwala and Company Chartered Accountants
Address :	317, Chetak Centre "Annex", 12/2, R.N.T. Marg, Indore – 452 001, Madhya Pradesh, India
PAN No.:	AFAPB2465F

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
967120	Equity Shares	Rs.10/- each	Rs.9.671 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	9.671	9.671
(b) Reserves & Surplus	86.615	70.349
(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)	96.286	80.020
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) Long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	246.884	219.182
(b) Trade payables	53.933	117.832
(c) Other current liabilities	131.952	21.253
(d) Short-term provisions	0.090	0.000
Total Current Liabilities (4)	432.859	358.267
TOTAL	529.145	438.288
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.504	5.065
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	3.295	0.825
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1.000	0.000
(c) Deferred tax assets (net)	0.021	0.095
(d) Long-term Loan and Advances	6.280	7.761
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	18.100	13.746
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	58.609	309.423
(c) Trade receivables	337.353	46.994
(d) Cash and cash equivalents	87.427	6.722
(e) Short-term loans and advances	14.906	52.035
(f) Other current assets	12.750	9.368
Total Current Assets	511.045	424.542
TOTAL	529.145	438.288

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		9.671
2] Share Application Money		0.000
3] Reserves & Surplus		60.495
4] (Accumulated Losses)		0.000
NETWORTH		70.166
LOAN FUNDS
1] Secured Loans		169.599
2] Unsecured Loans		0.000
TOTAL BORROWING		169.599
DEFERRED TAX LIABILITIES		0.066
TOTAL		239.831
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.108
Capital work-in-progress		0.000
INVESTMENT		4.400
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	200.264
	Sundry Debtors	34.006
	Cash & Bank Balances	10.285
	Other Current Assets	0.000
	Loans & Advances	38.407
Total Current Assets		282.962
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	30.723
	Other Current Liabilities	0.000
	Provisions	22.916
Total Current Liabilities		53.639
Net Current Assets		229.323
MISCELLANEOUS EXPENSES		0.000
TOTAL		239.831

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	2641.497	1932.600	770.783
		Other Income			4.037
		Increase/ Decrease in stock			150.545
		TOTAL (A)	2641.497	1932.600	925.365
Less	EXPENSES
		Materials Purchased	2616.479	1916.906	836.449
		Other Expenses			67.110
		TOTAL (B)	2616.479 (including financial and depreciation)	1916.906 (including financial and depreciation)	903.559
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				21.806
Less	FINANCIAL EXPENSES (D)				14.420
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				7.386
Less/ Add	DEPRECIATION/ AMORTISATION (F)				0.182
	PROFIT BEFORE TAX (E-F) (G)		25.018	15.694	7.204
Less	TAX (H)		8.752	5.840	2.220
	PROFIT AFTER TAX (G-H) (I)		16.266	9.854	4.984
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	2442.585	1665.508	566.188
	TOTAL EARNINGS		2442.585	1665.508	566.188
	Earnings Per Share (Rs.)		16.82	10.19	5.15

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.62	0.51	0.54
Net Profit Margin (PBT/Sales)	(%)	NA	NA	0.93
Return on Total Assets (PBT/Total Assets}	(%)	4.77	3.59	2.49
Return on Investment (ROI) (PBT/Networth)		0.26	0.20	0.10
Debt Equity Ratio (Total Debt/Networth)		2.56	2.74	2.42
Current Ratio (Current Asset/Current Liability)		1.18	1.18	5.28

LOCAL AGENCY FURTHER INFORMATION

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

NOTE

The registered office of the company has been shifted from 211, Shri Vardhan, 4-RNT Marg, Indore – 452 001, Madhya Pradesh, India to present address w.e.f. 16.04.2012.

GENERAL INFORMATION

Subject is a private limited company incorporated under The Companies Act, 1956 on 05.08.2002 having registered office at Saket Tower Ist Floor, 3A Ratlam Kothi, AB Road, Indore. Company is presently engaged in the business of trading of various commodities.

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10263487	19/06/2012 *	442,500,000.00	BANK OF BARODA	NAVLAKHA BRANCH, INDORE, MADHYA PRADESH - 452001, INDIA	B41706185

* Date of charge modification

FIXED ASSETS

· Land

· Furniture and Fixtures

· Vehicles

· Office Equipments

· Computer

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.62.56
UK Pound	1	Rs.100.77
Euro	1	Rs.84.71

INFORMATION DETAILS

Report Prepared by :

NIT

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.