MIRA INFORM REPORT

Report Date :

23.09.2013

IDENTIFICATION DETAILS

Name :	GLOBAL GREEN COMPANY LIMITED (w.e.f 23.12.1997)
Formerly Known As :	REITZEL INDIA LIMITED
Registered Office :	Thapar House, 124, Janpath, New Delhi - 110 001
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	18.02.1992
Com. Reg. No.:	55-047666
Capital Investment / Paid-up Capital :	Rs. 424.195 Millions
CIN No.: [Company Identification No.]	U02001DL1992PLC047666
TAN No.: [Tax Deduction & Collection Account No.]	HYDG01662D
PAN No.: [Permanent Account No.]	AAACR0635H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Distributor and Seller of Various Pickled Agri-Produce
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 1900000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a part of ‘Avantha Group’. It is a established company having a moderate track record. There appears accumulated losses recorded by the company. The external borrowing appears to be huge. However, company gets good support from its group companies. Trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. 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 – 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	FITCH
Rating	Long Term Rating = BBB-
Rating Explanation	The credit risk is currently low. The capacity for payments of financial commitment is considered to be adequate.
Date	June 2011

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 :	Thapar House, 124, Janpath, New Delhi - 110 001, India
Tel. No.:	91-11-23368332 / 23368811
Fax No.:	91-11-23368729
E-Mail :	misac@globalgreencompany.com kmanjunath@globalgreencompany.com sbudhiraja@bilt.com cs.ggcl@globalgreengroup.com
Website :	http://www.globalgreencompany.com
Head Office/ Factory :	220, Alembic Glass Complex, Whitefield Campuss, Hoskote Road, Whitefield, Bangalore - 560 066, Karnataka, India
Tel. No.:	91-80-28453792/28453793/28453019/28451957
Fax No.:	91-80-28453063
Area :	1,25,000 sq. ft. (Owned)
Location :	Industrial Area
Corporate Office.	#14, 80 Feet Road, 4^th Block,  Koramangala Bangalore - 560034, Karnataka, India
Tel. No.:	91-80-25536035/25527217
Fax No.:	91-80-25536061
Overseas Office :	Located At European North America

DIRECTORS

As on 30.11.2012

Name :

Mr. Gautam Thapar

Designation :

Director

Address :

E – 16, Pushpanjali Farm, S Bijwasan, New Delhi-110061

Date of Birth/Age :

07.12.1960

Date of Appointment :

15.04.1994

DIN No.:

00012289

PAN No.:

ABNPT6298B

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	U21019DL1975PLC198598	BILT PAPER HOLDINGS LIMITED	Managing director	01-04-10	06-08-93	-	Amalgamated	NO
2	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Director	15-04-94	15-04-94	-	Active	NO
3	U74899DL1994PTC061845	VANI AGENCIES PRIVATE LIMITED	Director	29-09-94	29-09-94	01-07-09	Active	NO
4	U51102DL1997PLC112862	SOLARIS CHEMTECH LIMITED	Director	29-12-97	29-12-97	-	Amalgamated	NO
5	L21010MH1945PLC010337	BALLARPUR INDUSTRIES LIMITED	Director	01-04-10	16-04-99	-	Active	NO
6	U67120MH1978PLC020308	CG CAPITAL AND INVESTMENTS LIMITED	Director	30-03-01	30-03-01	-	Amalgamated	NO
7	L26102DL1984PLC019542	ASAHI INDIA GLASS LIMITED	Director	22-03-02	22-03-02	-	Active	NO
8	U80101MH2002NPL136300	PRATHAM EDUCATION FOUNDATION	Director	01-10-02	01-10-02	18-06-09	Active	NO
9	U51900MH2000PTC127339	OSIAN’S – CONNOISSEURS OF ART PRIVATE LIMITED	Director	16-12-02	16-12-02	24-12-09	Active	NO
10	U51396DL2004PLC129498	KCT PAPERS LIMITED	Director	28-09-04	28-09-04	-	Amalgamated	NO
11	L99999MH1937PLC002641	CROMPTON GREAVES LIMITED	Director	07-08-05	07-08-05	-	Active	NO
12	U74140DL2005PLC135984	SALIENT BUSINESS SOLUTIONS LIMITED	Director	07-10-05	07-10-05	-	Active	NO
13	U67120DL2003PLC198253	SOLARIS HOLDINGS LIMITED	Director	29-06-07	22-08-06	-	Amalgamated	NO
14	L99999MH1922PLC000987	GREAVES COTTON LIMITED	Director	24-09-06	24-09-06	16-05-07	Active	NO
15	U70102DL1981PLC198595	AVANTHA REALTY LIMITED	Director	26-12-07	02-02-07	13-12-11	Active	NO
16	U67120DL1998PLC198627	AVANTHA HOLDINGS LIMITED	Whole-time director	01-04-11	02-02-07	-	Active	NO
17	U52110DL1992PLC005844	KARAM CHAND THAPAR AND BROS. LIMITED	Director	28-12-07	26-02-07	-	Amalgamated	NO
18	U55101MH2000PLC187834	LAVASA CORPORATION LIMITED	Director	04-06-07	27-02-07	-	Active	NO
19	U01214DL2004PTC125167	SOHNA STUD FARM PRIVATE LIMITED	Director	07-09-07	10-05-07	-	Active	NO
20	U80903DL2009NPL189043	AVANTHA FOUNDATION	Director	01-04-09	01-04-09	-	Active	NO
21	U99999UR1928NPL002455	INDIAN PUBLIC SCHOOLS SOCIETY	Director	21-12-10	21-12-10	-	Active	NO

Name :

Mr. Bhuthalingam Hariharan

Designation :

Director

Address :

D-2/3, Vasant Vihar, New Delhi-110057

Date of Birth/Age :

18.04.1957

Date of Appointment :

18.11.2011

DIN No.:

00012432

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	U51102DL1997PLC112862	SOLARIS CHEMTECH LIMITED	Director	29-12-97	29-12-97	-	Amalgamated	NO
2	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Nominee director	18-11-11	25-05-99	-	Active	NO
3	U36999DL1989PLC034942	BILT TREE TECH LIMITED	Director	17-08-00	17-08-00	05-11-12	Active	NO
4	L21010MH1945PLC010337	BALLARPUR INDUSTRIES LIMITED	Whole-time director	21-06-01	21-06-01	-	Active	NO
5	U67120DL1998PLC198627	AVANTHA HOLDINGS LIMITED	Director	26-03-11	06-03-02	-	Active	NO
6	U65999DL2003PLC119508	NEWQUEST INSURANCE BROKING SERVICES LIMITED	Director	24-03-03	24-03-03	-	Active	NO
7	U67120DL2003PLC198253	SOLARIS HOLDINGS LIMITED	Director	04-04-03	04-04-03	-	Amalgamated	NO
8	U74140DL2005PLC135984	SALIENT BUSINESS SOLUTIONS LIMITED	Director	07-10-05	07-10-05	-	Active	NO
9	U22121DL2005PTC138214	CONTENT SERVICES AND PUBLISHING PRIVATE LIMITED	Director	08-03-06	08-03-06	12-03-10	Active	NO
10	U40101DL2005PLC138906	AVANTHA POWER AND INFRASTRUCTURE LIMITED	Director	13-12-06	12-06-06	-	Active	NO
11	U21000MH2007PLC172382	BILT GRAPHIC PAPER PRODUCTS LIMITED	Director	16-07-07	16-07-07	-	Active	NO
12	U24119DL2001PLC111100	SOLARIS CHEMTECH INDUSTRIES LIMITED	Director	31-12-08	26-09-08	-	Active	NO
13	U67120DL2003PTC121919	TOPSCORE TRADEVARIETY PRIVATE LIMITED	Director	30-09-10	21-07-09	-	Amalgamated	NO
14	U24296DL2004PLC129497	KCT CHEMICALS AND ELECTRICALS LIMITED	Director	08-09-09	21-07-09	-	Amalgamated	NO
15	U70102DL1981PLC198595	AVANTHA REALTY LIMITED	Director	30-09-10	04-11-09	-	Active	NO
16	U72900DL2001PLC109058	BILTECH BUILDING ELEMENTS LIMITED	Director	21-09-11	16-11-10	-	Active	NO
17	U85110KA1998PLC023512	PREMIER TISSUES (INDIA) LIMITED	Director	13-12-11	09-03-11	-	Active	NO
18	U26942CT2007PTC020227	K.P. CEMENT MFG. COMPANY PRIVATE LIMITED	Director	27-09-12	29-12-11	-	Active	NO
19	U40300MH2012PLC228170	CG POWER SOLUTIONS LIMITED	Director	14-03-12	14-03-12	-	Active	NO
20	L99999MH1937PLC002641	CROMPTON GREAVES LIMITED	Additional director	01-11-12	01-11-12	-	Active	NO

Name :

Ashwani Gupta

Designation :

Director

Address :

C-27, Chirag Enclave, New Delhi -110048, India

Date of Birth/Age :

09.01.1958

Date of Appointment :

17.09.2009

DIN No.:

00122889

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	U74899DL1995PTC071592	HONEYWELL INTERNATIONAL (INDIA) PRIVATE LIMITED	Managing director	10-12-02	10-12-02	30-06-08	Active	NO
2	U72200KA1994FTC016379	HONEYWELL TECHNOLOGY SOLUTIONS LAB PRIVATE LIMITED	Director	17-09-03	17-09-03	30-06-08	Active	NO
3	U29299PN2004PTC019904	HONEYWELL TURBO TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	03-11-04	03-11-04	23-06-08	Active	NO
4	U24119DL2001PLC111100	SOLARIS CHEMTECH INDUSTRIES LIMITED	Director	31-12-08	26-09-08	-	Active	NO
5	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Director	17-09-09	16-02-09	-	Active	NO
6	U74140KA2007PTC042034	FOOTPRINT VENTURES TRUSTEE COMPANY PRIVATE LIMITED	Director	13-09-11	31-07-10	-	Active	NO
7	U67190KA2006PTC038579	FOOTPRINT VENTURES CONSULTANCY PRIVATE LIMITED	Director	13-09-11	31-07-10	-	Active	NO
8	U74140DL2005PLC135984	SALIENT BUSINESS SOLUTIONS LIMITED	Director	26-09-11	18-03-11	-	Active	NO

Name :

Mr. Anthonie Leendert Stal

Designation :

Director

Address :

Groot Haesebroekseweg 9 , Wassenaar 2243, Netherlands

Date of Birth/Age :

31.10.1953

Date of Appointment :

02.06.2009

DIN No.:

02681031

Name :

Mr. Rajesh Kumar Srivastava

Designation :

Director

Address :

S-376, (GF), Panchshila Park, New Delhi – 110017, India

Date of Birth/Age :

20.05.1957

Date of Appointment :

30.09.2010

DIN No.:

00302223

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	U67120MH2003PTC139711	RABO INDIA SECURITIES PRIVATE LIMITED	Managing director	20-01-07	01-06-06	06-01-09	Active	NO
2	U65929HR1998PLC037509	RABO INDIA FINANCE LIMITED	Director	18-07-08	15-03-07	15-12-09	Active	NO
3	U67190DL2006PTC191588	RABO EQUITY ADVISORS PRIVATE LIMITED	Managing director	18-07-08	21-04-08	-	Active	NO
4	U24239AP2006PLC050060	SRI BIOTECH LABORATORIES INDIA LIMITED	Director	03-03-09	02-03-09	-	Active	NO
5	U01110AP1997PTC026890	SRI BIOREMEDIES PRIVATE LIMITED	Director	05-03-09	04-03-09	-	Active	NO
6	U15493DL1991PTC205408	ADM AGRO INDUSTRIES KOTA AND AKOLA PRIVATE LIMITED	Director	05-11-09	05-11-09	16-08-11	Active	NO
7	L74899DL1990PLC041790	LT FOODS LIMITED	Nominee director	30-09-10	09-11-09	-	Active	NO
8	U15209DL2005PLC135838	DAAWAT FOODS LIMITED	Nominee director	29-09-10	29-12-09	-	Active	NO
9	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Director	30-09-10	31-03-10	-	Active	NO
10	U74899UP1993PLC034039	VACMET INDIA LIMITED	Director	12-08-11	19-08-10	-	Active	NO
11	U74140MH2004PLC148859	NATIONAL COLLATERAL MANAGEMENT SERVICES LIMITED	Director	25-08-11	13-06-11	-	Active	NO
12	U01119AP2003PTC041810	SUPER AGRISEEDS PRIVATE LIMITED	Nominee director	30-03-12	30-03-12	-	Active	NO
13	U01122PN2007PTC129505	SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED	Nominee director	28-09-12	28-09-12	-	Active	NO
14	U15200PN2009PTC134859	PRABHAT NUTRITIOUS AND FROZEN FOOD INDUSTRIES PRIVATE LIMITED	Nominee director	28-09-12	28-09-12	-	Active	NO
15	U15203PN1998PTC013068	PRABHAT DAIRY PRIVATE LIMITED	Nominee director	28-09-12	28-09-12	-	Active	NO

Name :

Mr. Wilton Henriques

Designation :

Director

Address :

Silvan Mansion, Lady Jamshedji Road, Mahim, Mumbai-400016, Maharashtra, India

Date of Birth/Age :

18.10.1955

Date of Appointment :

17.09.2009

DIN No.:

00059817

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	U31100MH1996PLC100151	CG ENERGY MANAGEMENT LIMITED	Director	26-11-01	26-11-01	-	Active	NO
2	U24295GA1988PLC000921	CG-PPI ADHESIVE PRODUCTS LIMITED	Director	24-07-02	24-07-02	21-09-10	Active	NO
3	U67120MH1978PLC020308	CG CAPITAL AND INVESTMENTS LIMITED	Managing director	01-11-10	28-08-02	-	Amalgamated	NO
4	U74899DL1993PTC051849	ITRON METERING SOLUTIONS INDIA PRIVATE LIMITED	Director	18-03-05	18-03-05	29-10-10	Active	NO
5	U74909DL2005PLC131985	MALANPUR CAPTIVE POWER LIMITED	Director	02-06-06	02-06-06	23-04-10	Active	NO
6	U31404TN1993PTC025779	AGILE CONSUMER ELECTRIC INDIA PRIVATE LIMITED	Director	27-07-07	20-12-06	29-10-10	Active	NO
7	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Director	17-09-09	16-02-09	-	Active	NO
8	U31900MH2010PLC209840	CG-ZIV POWER AUTOMATION SOLUTIONS LIMITED	Director	04-11-10	04-11-10	-	Active	NO
9	U85110KA1998PLC023512	PREMIER TISSUES (INDIA) LIMITED	Director	13-12-11	09-03-11	-	Active	NO
10	U40300MH2012PLC228170	CG POWER SOLUTIONS LIMITED	Director	14-03-12	14-03-12	-	Active	NO

Name :

Mr. Digvijai Singh Gill

Designation :

Managing Director

Address :

Way 7017, Villa 1000, North Azaiba, Sultanate Of Oman

Date of Birth/Age :

07.02.1962

Date of Appointment :

25.09.2012

DIN No.:

01226565

PAN No.:

BGFPG1625P

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	U99999MH1987PLC043940	NIMBUS COMMUNICATIONS LIMITED	Nominee director	11-01-07	11-01-07	06-09-07	Active	NO
2	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Managing director	25-09-12	06-03-07	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.11.2012

Names of Shareholders	No. of Shares
Avantha Holdings Limited, India	33170878
Krishnan S	10
Ramesh Kumar Chopra	10
Banthia S	10
Surendra Kumar Khandelwal	20
Akhil Mahajan	10
India Agri Business Fund Limited, Mauritius	19702149
Rajesh Shrivastava on Behalf Of Real Trust	69205
Total	52942292

As on 22.02.2013

Names of Allottee	No. of Shares Allotted
Avantha Holdings Limited, India	45000000
Total	45000000

As on 30.11.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	37.22
Bodies corporate	62.65
Other	0.13
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Distributor and Seller of Various Pickled Agri-Produce

Products :

Description of product or service category	ITC Code
Gherkins in Brine	0711
Gherkins in Vinegar	2001
Jalapenos in Vinegar	2001

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Canara Bank, Hi-Tech Agricultural Finance Branch, 'M' Block, Unity Building, J C Road, Bangalore - 560002, Karnataka, India

• The Ratnakar Bank Limited, Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India

• Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

• State Bank of India, Peenya Industrial Estate Branch, B-96, Ii Cross, I Stage, Peenya Industrial Estate, Bangalore - 560058, Karnataka, India

• ICICI Bank Limited, Singapore Branch, 9 Raffles Place, # 50-01 , Republic Plaza, Singapore - 048619, Singapore

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
Rupee term loans from banks	30.000	0.000
Foreign currency term loans from banks	63.758	101.782
Long-term maturities of finance lease obligations (Finance lease obligations are secured by hypothecation of assets underlying the leases.)	3.373	11.470
Short-term borrowings
Working capital loans from banks	886.208	588.818
Other loans and advances (Secured against the freight subsidy receivable from APEDA along with corporate guarantee given by Avantha Holdings Limited, the holding company.)	91.204	100.624
Total	1074.543	802.694

Banking Relations :	---
Auditors :
Name :	Lovelock and Lewes Chartered Accountants
Address :	Thapar House, 124, Janpath, New Delhi - 110 001, India
PAN No.:	AABFL5878L
Holding Company :	Avantha Holdings Limited
Subsidiary Company :	Global Green USA Limited GG International NV Intergarden NV Intergarden (India) Private Limited Dunakiliti Konzervem KFT Puszta Konzervuzem KFT Green House Agrar Kft
Fellow Subsidiary Company :	Bilt Paper Holdings Limited
Associate :	Ballarpur Industries Limited Solaris Chemtech Industries Limited BILT Paper Limited BILT Tissues Private Limited Avantha Technologies Limited

CAPITAL STRUCTURE

After 30.11.2012

Authorised Capital : Rs.980.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
97942292	Equity Shares	Rs.10/- each	Rs.979.423 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
48300000	Equity Shares	Rs.10/- each	Rs.483.000 Millions
3700000	Preference Shares	Rs.10/- each	Rs.37.000 Millions
	Total		Rs.520.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
38720071	Equity Shares	Rs.10/- each	Rs.387.201 Millions
3699422	Preference Shares	Rs.10/- each	Rs.36.994 Millions
	Total		Rs.424.195 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	424.195	424.195
(b) Reserves & Surplus	58.857	504.362
(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)	483.052	928.557
(3) Non-Current Liabilities
(a) long-term borrowings	843.131	653.251
(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)	843.131	653.251
(4) Current Liabilities
(a) Short term borrowings	977.412	689.443
(b) Trade payables	676.419	538.586
(c) Other current liabilities	150.670	141.307
(d) Short-term provisions	144.436	128.172
Total Current Liabilities (4)	1948.937	1497.508
TOTAL	3275.120	3079.316
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	400.729	407.943
(ii) Intangible Assets	29.167	49.039
(iii) Capital work-in-progress	4.035	21.757
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1328.992	1328.992
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	175.835	160.271
(e) Other Non-current assets	14.906	23.100
Total Non-Current Assets	1953.664	1991.102
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	445.733	569.770
(c) Trade receivables	811.623	451.612
(d) Cash and cash equivalents	27.433	6.855
(e) Short-term loans and advances	36.667	59.977
(f) Other current assets	0.000	0.000
Total Current Assets	1321.456	1088.214
TOTAL	3275.120	3079.316

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		424.195
2] Share Application Money		35.000
3] Reserves & Surplus		913.807
4] (Accumulated Losses)		(1.215)
NETWORTH		1371.787
LOAN FUNDS
1] Secured Loans		866.234
2] Unsecured Loans		95.868
TOTAL BORROWING		962.102
DEFERRED TAX LIABILITIES		0.000
TOTAL		2333.889
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		439.309
Capital work-in-progress		57.899
INVESTMENT		908.292
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	554.139
	Sundry Debtors	618.865
	Cash & Bank Balances	310.105
	Other Current Assets	0.000
	Loans & Advances	224.182
Total Current Assets		1707.291
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	238.922
	Other Current Liabilities	502.306
	Provisions	37.674
Total Current Liabilities		778.902
Net Current Assets		928.389
MISCELLANEOUS EXPENSES		0.000
TOTAL		2333.889

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1624.444	1523.897	1758.118
		Other Income	15.867	18.858	84.760
		TOTAL (A)	1640.311	1542.755	1842.878
Less	EXPENSES
		Cost of materials consumed	923.274	931.342
		Purchases of stock-in-trade	24.740	28.267
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	109.042	(73.076)	1514.280
		Employee benefit expense	168.563	201.130
		Other expenses	500.488	527.112
		Exceptional items	90.481	210.299
		TOTAL (B)	1816.588	1825.074	1514.280
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(176.277)	(282.319)	328.598
Less	FINANCIAL EXPENSES (D)		182.260	65.936	90.181
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(358.537)	(348.255)	238.417
Less/ Add	DEPRECIATION/ AMORTISATION (F)		71.422	59.763	68.449
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(429.959)	(408.018)	169.968
Less	TAX (H)		15.332	0.000	69.773
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(445.291)	(408.018)	100.195
	Earnings / (Loss) Per Share (Rs.)		(11.50)	(12.30)	3.43

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(27.15)	(26.45)	5.44
Net Profit Margin (PBT/Sales)	(%)	(26.47)	(26.77)	9.67
Return on Total Assets (PBT/Total Assets}	(%)	(22.14)	(23.60)	7.92
Return on Investment (ROI) (PBT/Networth)		(0.89)	(0.44)	0.12
Debt Equity Ratio (Total Debt /Networth)		3.77	1.45	1.55
Current Ratio (Current Asset/Current Liability)		0.68	0.73	2.19

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

OPERATIONAL PERFORMANCE

During the year, the Company achieved a turnover of Rs.1549.530 Millions as against Rs.1439.800 Millions in the previous financial year registering a increase of Rs. 109.730 Millions year on year, representing an increase of 7.08% of previous year.

The Company’s PBIDT was Rs. 176.277 Millions negative 11.4% of Sales for the year ended 31^st March 2012 as compared to Rs. 265.800 Millions negative 18.5% of Sales. The Company’s PBT was Rs 429.959 Millions negative for the year ended 31^st March, 2012 as compared to Rs. (408.018) Millions for the previous year.

The Company incurred a foreign exchange loss of Rs.5.950 Millions during the financial year as against a gain of Rs. 9.430 Millions during the previous financial year.

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
Rupee term loans from others	746.000	540.000
Total	746.000	540.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10424050	09/04/2013	285,000,000.00	THE RATNAKAR BANK LIMITED	SHAHUPURI,KOLHAPUR, KOLHAPUR, MAHARASHTRA - 416001, INDIA	B74537937
2	10394039	26/12/2012 *	120,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B65227407
3	10394120	08/11/2012	30,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B64899396
4	10315579	28/12/2012 *	40,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B65226946
5	10314613	08/11/2012 *	420,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B64889090
6	10075273	25/10/2007	100,000,000.00	CANARA BANK	AGRI FINANCE BRANCH, UNITY BUILDINGS , J.C. ROAD, BANGALORE, KARNATAKA - 560002, INDIA	A26310003
7	10048768	26/02/2008 *	100,000,000.00	CANARA BANK	AGRI FINANCE BRANCH, UNITY BUILDINGS, J C ROAD, BANGALORE, KARNATAKA - 560002, INDIA	A33939257
8	90041032	08/11/2012 *	735,000,000.00	CANARA BANK	HI-TECH AGRICULTURAL FINANCE BRANCH, 'M' BLOCK, UNITY BUILDING, J C ROAD, BANGALORE, KARNATAKA - 560002, INDIA	B65241242

* Date of charge modification

FIXED ASSETS

• Building
• Plant Machinery
• Equipments
• Furniture Fixtures
• Vehicles

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.62.24
UK Pound	1	Rs.99.90
Euro	1	Rs.84.23

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.