MIRA INFORM REPORT

Report Date :

08.12.2014

IDENTIFICATION DETAILS

Name :	KALP COLD STORAGE PRIVATE LIMITED
Registered Office :	Survey No. 105/3, Block No.114, Near Sachid Plantation, Bayed Highway, Village Sampa, Taluka Dehgam, Ahmedabad – 382330, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.07.1997
Com. Reg. No.:	04-032612
Capital Investment / Paid-up Capital :	Rs. 4.783 Millions
CIN No.: [Company Identification No.]	U63020GJ1997PTC032612
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCK5999E
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Cold Storage Services for preservation of Agricultural Produce and particularly Potatoes.
No. of Employees :	8 (Approximately) [In Office: 6 + In Factory: 2]

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to medium 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

NOT AVAILABLE

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Dineshbhai Bansilal Patel
Designation :	Director
Contact No.:	91-9824231867
Date :	05.12.2014

LOCATIONS

Registered/ Administrative Office :	Survey No. 105/3, Block No.114, Near Sachid Plantation, Bayed Highway, Village Sampa, Taluka Dehgam, Ahmedabad – 382330, Gujarat, India
Tel. No. :	Not Available
Mobile No. :	91-9824231867 (Mr. Dineshbhai Bansilal Patel)
Fax No. :	Not Available
E-Mail :	kalp1987@yahoo.com
Area :	6900 Sq. Mtr.

DIRECTORS

As on 30.09.2014

Name :

Mr. Indravadan Trikamlal Thakkar

Designation :

Director

Address :

15, Prahladnagar-Rivera-30 Co-operative Society, Opposite Paras Bung, Opposote Shivalik Acord, Satellite, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

01.06.1963

Qualification :

Undergraduate

Experience :

31 Years

Date of Appointment :

03.07.1997

Profile :

Mr. Indravadan Trikamlal Thakkar aged 51 Years is an undergraduate having more than 31 Years of experience in business. He too has achieved good success in business due to his sincere and hard work. He is also engaged in trading in plywood. He is a director in Kalp Cold Storage Private Limited since its inception in 1997. He mainly looks after markeing and sales. His net worth as on 31.03.2014 is Rs. 43.133 Millions.

PAN No.:

AALPT4066C

DIN No. :

02116233

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	U63020GJ1997PTC032612	KALP COLD STORAGE PRIVATE LIMITED	Director	03-07-1997	03-07-1997	Active	NO
2	U51909GJ2000PTC037661	SHREE HARI TRADELINK PRIVATE LIMITED	Director	29-03-2000	29-03-2000	Active	NO

Name :

Mr. Dineshbhai Bansilal Patel

Designation :

Director

Address :

30, Jaynagar Soc., Near Swaminarayan Mandir, Rambaug, Kankaria, Ahmedabad - 380028, Gujarat, India

Date of Birth/Age :

01.02.1957

Qualification :

Commerce Graduate

Experience :

35 Years

Date of Appointment :

03.07.1997

Profile :

Mr. Dineshbhai Bansilal Patel aged 58 is a commerce graduate. He has over 35 years of experience in the business. He established cold storage for storing 75000 bags of 50 kg each in the year 1997 and since then has never looked back. He also engaged in trading in plywood. Over the years he has achieved great success in the business. In the company he mainly looks after the accounts and finance function. His net worth as on 31.03.2014 is Rs. 24.040 Millions.

PAN No. :

AAWPP0108N

DIN No. :

02116254

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	U63020GJ1997PTC032612	KALP COLD STORAGE PRIVATE LIMITED	Director	03-07-1997	03-07-1997	Active	NO
2	U20210GJ2005PTC046713	KALP PLYWOOD PRIVATE LIMITED	Director	05-09-2005	05-09-2005	Active	NO

Name :

Mr. Kamleshkumar Bansilal Kachhiya

Designation :

Director

Address :

308, Gawara's Rajputwada, Taluka Khambhat, Kheda - 388620, Gujarat, India

Date of Birth/Age :

17.10.1954

Qualification :

Graduate

Experience :

38 Years

Date of Appointment :

26.09.2011

Profile :

Mr. Kamleshkumar Bansilal Kachhiya aged 60 is a graduate. He has over 38 Years’ experience in business. He joined Kalp Cold Storage Private Limited as the director in the year 2011. He also looks after the marketing and sales function. He is also proprietor of Kamleshkumar Bansilal Kachhiya Paterl where he deals in trading in vegetable wholesale business. His net worth as on 31.03.2014 is Rs. 17.090 Millions

PAN No. :

ADGPK5129B

DIN No. :

02528521

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	U63020GJ1997PTC032612	KALP COLD STORAGE PRIVATE LIMITED	Director	26-09-2011	01-01-2011	Active	NO

Name :

Mr. Harshedkumar Bansilal Kachhia

Designation :

Director

Address :

5, Shrijisociety At Metpur, District Anand, Khambhat - 388620, Gujarat, India

Date of Birth/Age :

27.06.1960

Qualification :

Graduate

Experience :

30 Years

Date of Appointment :

26.09.2011

Profile :

Mr. Harshedkumar Bansilal Kachhia aged 54 is a graduate. He has over 30 experience in business. He joined Kalp Cold Storage Private Limited as the director in the year 2011. He also looks after the marketing and sales function. He is also prorprietor of Harshadkumar and Brothers where he deals in trading in vegetable wholesale business. His net worth as on 31.03.2014 is Rs. 6.772 Millions

PAN No. :

ADMPK6249A

DIN No. :

03391911

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
1	U63020GJ1997PTC032612	KALP COLD STORAGE PRIVATE LIMITED	Director	26-09-2011	01-01-2011	Active

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Dineshbhai P. Patel	75800
Indravadan T. Thakkar	23500
Hemant M. Patel	5000
Dineshbhai B. Patel (HUF)	15000
Indravadan T. Thakkar (HUF)	8200
Umakant T. Khambhata	35000
Rajubhai R. Patel	7500
Indiraben I. Thakkar	14000
Kumudben R. Mistry	31800
Rajesh B. Shah	36000
Kiranben B. Khambhata	15000
Pritiben D. Patel	26500
Sumantlal C. Kachhiya	13500
Kamlesh B. Patel	10000
Harshad D. Patel	10000
Kamalesh B. Patel (HUF)	35000
Harshad B. Patel (HUF)	30000
Hasumati B. Patel	40200
Vinodbhai N. Thakkar	8000
Anandiben T. Thakkar	12800
Mukund C. Patel	25500
Total	478300

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing Cold Storage Services for preservation of Agricultural Produce and particularly Potatoes.
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :
Selling :	Cash and Others
Purchasing :	Cash and Others

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Customers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

No. of Employees :

8 (Approximately) [In Office: 6 + In Factory: 2]

Bankers :

Bank Name:	Bank of India
Branch:	Kapadwanj, Gujarat, India
Name of the Person (with Designation):	Mr. Rajnish Chopda (Branch Manager)
Contact Number:	91-8000173050
Name of Account Holder:	Kalp Cold Storage Private Limited
Account Number:	206120110000135
Account Since (Date/ Year of A/c Opening):	16.10.2014
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Nil
Account Operation:	Satisfactory
Remarks: As claimed by Mr. Rajnish Chopda (Branch Manager) that subject is having satisfactory track record for banking transaction.

· Mehsana Urban Co-operative Bank Limited

Auditors :
Name :	P R Maheshwari and Associates Chartered Accountants
Address :	A/8 Capital Commercial Centre, Ashram Road, Ahmedabad – 380009, Gujarat, India
Tel. No. :	91-79-26576803
Income-tax PAN of auditor or auditor's firm :	ABFPM0260L
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
478,300	Equity Shares	Rs.10/- each	Rs. 4.783 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4.783	4.783	4.783
(b) Reserves & Surplus	1.769	1.584	1.408
(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)	6.552	6.367	6.191
(3) Non-Current Liabilities
(a) Long-term borrowings	0.583	0.850	0.248
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.583	0.850	0.248
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.623	0.736	0.605
(c) Other current liabilities	0.265	0.327	0.146
(d) Short-term provisions	0.163	0.095	0.131
Total Current Liabilities (4)	1.051	1.158	0.882
TOTAL	8.186	8.375	7.321
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.082	4.950	2.754
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.115	0.115	0.115
(c) Deferred tax assets (net)	0.202	0.130	0.113
(d) Long-term Loan and Advances	1.368	1.971	2.617
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5.767	7.166	5.599
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	1.541	0.680	0.944
(d) Cash and cash equivalents	0.713	0.391	0.645
(e) Short-term loans and advances	0.130	0.117	0.100
(f) Other current assets	0.035	0.021	0.033
Total Current Assets	2.419	1.209	1.722
TOTAL	8.186	8.375	7.321

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	3.687	3.540	3.479
		Other Income	0.156	0.197	0.189
		TOTAL (A)	3.843	3.737	3.668
Less	EXPENSES
		Employee Benefit Expense	0.909	0.786	0.853
		Other Expenses	1.657	2.146	2.180
		TOTAL (B)	2.566	2.932	3.033
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.277	0.805	0.635
Less	FINANCIAL EXPENSES (D)		0.128	0.104	0.053
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.149	0.701	0.582
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.867	0.692	0.521
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.282	0.009	0.061
Less	TAX (H)		0.097	0.003	(0.125)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.185	0.006	0.186
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.314	0.308	0.122
	BALANCE CARRIED TO THE B/S		0.499	0.314	0.308
	Earnings / (Loss) Per Share (Rs.)		0.39	0.01	0.39

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	5.02	0.17	5.35
Operating Profit Margin (PBDIT/Sales)	(%)	34.64	22.74	18.25
Return on Total Assets (PBT/Total Assets}	(%)	3.58	0.11	0.86
Return on Investment (ROI) (PBT/Networth)		0.04	0.00	0.01
Debt Equity Ratio (Total Debt/Networth)		0.09	0.13	0.04
Current Ratio (Current Asset/Current Liability)		2.30	1.04	1.95

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	4.783	4.783	4.783
Reserves & Surplus	1.408	1.584	1.769
Net worth	6.191	6.367	6.552
long-term borrowings	0.248	0.850	0.583
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.248	0.850	0.583
Debt/Equity ratio	0.040	0.134	0.089

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	3.479	3.540	3.687
		1.753	4.153

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	3.479	3.540	3.687
Profit	0.186	0.006	0.185
	5.35%	0.17%	5.02%

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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	Yes
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

------------------------------------------------------------------------------------------------------------------------------

UNSECURED LOANS

(RS. IN MILLIONS)

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
From The Mehsana Urban Co-operative Bank Limited (Secured against Motor Car)	0.583	0.850
Total	0.583	0.850

------------------------------------------------------------------------------------------------------------------------------

COST OF PROJECT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	EXISTING AS ON 31.03.2014	EXPANSION/ NEW			GRAND TOTAL
			ALREADY INCURRED	PROPOSED TO BE INCURRED	PROPOSED TOTAL
1	Land and Site Development	0.150	--	0.000	0.000	0.150
2	Construction Cost	0.704	--	12.850	12.850	13.554
3	Computers, Software’s and Camera	0.005	--	0.000	0.000	0.005
4	Plant and Machinery
	- Refrigeration Equipments	1.671	1.251	5.549	6.800	8.471
	- Other Equipment	--	--	--	0.000	0.000
5	Electric Installation	0.059	--	0.150	0.150	0.209
6	Furniture and Interior	--	--	--	0.000	0.000
7	Vehicle	1.490	--	--	0.000	1.490
8	Misc. Fixed Assets	0.003	--	--	0.000	0.003
	Capital Cost of Project	4.082	1.251	18.549	19.800	23.882
9	Preliminary and Preoperative Expenses	--	--	--	0.000	0.000
10	Investments	0.316	--	--	0.000	0.316
11	Working Capital Required (Including Margin Money)	2.288	0.000	0.312	0.312	2.600
12	Cash and Bank Balance	0.714	--	--	0.000	0.714
	Total Cost of Project	7.400	1.251	18.861	20.112	27.513

------------------------------------------------------------------------------------------------------------------------------

MEANS OF FINANCE

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	EXISTING AS ON 31.03.2014	EXPANSION/ NEW			GRAND TOTAL
			ALREADY INCURRED	PROPOSED TO BE INCURRED	PROPOSED TOTAL
1	Equity Share Capital	4.783	0.000	0.000	0.000	4.783
2	Share Premium Account	--	--	--	0.000	0.000
3	Cash Subsidy	1.271	--	--	0.000	1.271
4	Profit and Loss (Surplus) Account	0.498	--	1.500	1.500	1.998
	Shareholders Funds	6.552	0.000	1.500	1.500	8.052
5	Term Loans
	-Term Loan from Bank	0.848	--	14.850	14.850	15.698
6	Unsecured Loans
	- Interest Free Deposits	--	1.251	2.511	3.762	3.762
	- Interest Bearing Deposits	--	--	0.000	0.000	0.000
	- Unpaid Capital Expenditure	--	--	0.000	0.000	0.000
	Loan Funds	0.848	1.251	17.361	18.612	19.460
	Total Long Term Funds	7.400	1.251	18.861	20.112	27.512
7	Working Capital Loan	--	--	0.000	0.000	0.000
	Total Means of Finance	7.400	1.251	18.861	20.112	27.512

------------------------------------------------------------------------------------------------------------------------------

CALCULATION OF DEBT SERVICE COVERAGE RATIO

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
1	Cash Accruals	2.413	3.007	2.936	3.035	3.133	3.238
2	Term Loan Interest	0.370	1.650	1.359	1.043	0.743	0.446
	Total	2.783	4.657	4.295	4.078	3.876	3.684
3	Total Repayment	0.265	2.202	2.848	2.636	2.583	2.583
4	Term Loan Interest	0.370	1.650	1.359	1.043	0.743	0.446
	Total	0.635	3.852	4.207	3.679	3.326	3.029
	DSCR	4.38	1.21	1.02	1.11	1.17	1.22
	Average DSCR	1.63

------------------------------------------------------------------------------------------------------------------------------

WORKING CAPITAL STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
	Average Capacity Utilisation	64.74%	100.00%	100.00%	100.00%	100.00%	100.00%
1	Sundry Debtors
	- Local Income	1.868	2.885	2.885	2.885	2.885	2.885
2	Cash and Bank Balance	1.362	0.729	0.818	0.817	0.868	0.923
3	Working Expenses	0.355	0.513	0.513	0.513	0.513	0.513
4	Other Current Assets	1.177	1.818	1.818	1.818	1.818	1.818
	Gross Current Assets	4.762	5.945	6.034	6.033	6.084	6.139
5	Less: Current Liabilities
	- Creditors for Goods	0.000	0.000	0.000	0.000	0.000	0.000
	- Creditors for Expenses	0.592	0.855	0.855	0.855	0.855	0.855
	- Other Current Liabilities	0.208	0.322	0.322	0.322	0.322	0.322
	Total Current Liabilities	0.800	1.177	1.177	1.177	1.177	1.177
	Net Current Assets	3.963	4.768	4.857	4.856	4.907	4.962
6	Bank Limit	0.000	0.000	0.000	0.000	0.000	0.000
7	Margin Money	3.963	4.768	4.857	4.856	4.907	4.962

------------------------------------------------------------------------------------------------------------------------------

COST OF OPERATIONS AND PROFITABILITY STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
1	Average Capacity Utilisation (%)	64.74%	100.00%	100.00%	100.00%	100.00%	100.00%
2	Sales
	- Existing Income	5.063	5.063	5.063	5.063	5.063	5.063
	- Expansion Income	0.619	3.713	3.713	3.713	3.713	3.713
	Total Operating Income	5.681	8.775	8.775	8.775	8.775	8.775
3	Other Income	--	--	--	--	--	--
	Total Income	5.681	8.775	8.775	8.775	8.775	8.775
4	Cost of Operations
	Consumable Stores Expenses
	- Indigenous	0.170	0.263	0.263	0.263	0.263	0.263
	Power and Fuel	1.600	2.344	2.344	2.344	2.344	2.344
	Direct Labour and Wages	0.559	0.779	0.779	0.779	0.779	0.779
	Repairs and Maintenance	0.179	0.239	0.299	0.358	0.418	0.478
	Other Operating Expenses	0.039	0.060	0.060	0.060	0.060	0.060
	Depreciation	1.165	2.756	2.390	2.078	1.812	1.583
	Total Operating Cost	3.712	6.440	6.134	5.882	5.675	5.507
5	Gross Profit	1.969	2.335	2.641	2.893	3.100	3.268
6	Interest and Financial Charges
	- On Existing Term Loans	--	--	--	--	--	--
	- On Proposed Term Loans	0.285	1.596	1.337	1.040	0.743	0.446
	- On Vehicle Loans	0.086	0.054	0.022	0.003	0.000	0.000
	- On Working Capital Loans	0.000	0.000	0.000	0.000	0.000	0.000
	Total Interest	0.370	1.650	1.359	1.043	0.743	0.446
7	Administrative Expenses	0.350	0.425	0.425	0.425	0.425	0.425
8	Selling and Distribution Expenses	0.000	0.000	0.000	0.000	0.000	0.000
9	Operating Profit	1.249	0.259	0.858	1.426	1.932	2.398
10	Other Non-operating Expenses
	- P & P Written Off	0.000	0.000	0.000	0.000	0.000	0.000
11	Profit Before Tax	1.249	0.259	0.858	1.426	1.932	2.398
12	Provision for Taxation	0.000	0.008	0.311	0.468	0.611	0.744
13	Profit After Tax	1.249	0.251	0.547	0.957	1.321	1.654
14	Add: Depreciation	1.165	2.756	2.390	2.078	1.812	1.583
	- P & P Written Off	0.000	0.000	0.000	0.000	0.00	0.000
15	Cash Accruals	2.413	3.007	2.936	3.035	3.133	3.350

------------------------------------------------------------------------------------------------------------------------------

REVENUE, COST, TAXATION ESTIMATES AND WORKINGS

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
	Number of Working Days	365.00	365.00	365.00	365.00	365.00	365.00
	Number of Months	12.00	12.00	12.00	12.00	12.00	12.00
1	Existing (Potato - Seeds)
	Installed Occupancy	37500	37500	37500	37500	37500	37500
	Capacity Utilisation	100%	100%	100%	100%	100%	100%
	Average Capacity Utilisation	100%	100%	100%	100%	100%	100%
	Operating Occupancy	37500	37500	37500	37500	37500	37500
	Rate Per Bag
	- Indigenous Rate	80.00	80.00	80.00	80.00	80.00	80.00
	Income Realisation
	- Indigenous	3.000	3.000	3.000	3.000	3.000	3.000
	Total Operating Income	3.000	3.000	3.000	3.000	3.000	3.000
2	Existing (Potato - Commercial)
	Installed Occupancy	37500	37500	37500	37500	37500	37500
	Capacity Utilisation	100%	100%	100%	100%	100%	100%
	Average Capacity Utilisation	100%	100%	100%	100%	100%	100%
	Operating Occupancy	37500	37500	37500	37500	37500	37500
	Rate Per Bag
	- Indigenous Rate	55.00	55.00	55.00	55.00	55.00	55.00
	Income Realisation
	- Indigenous	2.063	2.063	2.063	2.063	2.063	2.063
	-
	Total Operating Income	2.063	2.063	2.063	2.063	2.063	2.063
3	Expansion (Potato - Seeds)
	Installed Occupancy	27500	27500	27500	27500	27500	27500
	Capacity Utilisation	100%	100%	100%	100%	100%	100%
	Average Capacity Utilisation	17%	100%	100%	100%	100%	100%
	Operating Occupancy	4583	27500	27500	27500	27500	27500
	Rate Per Bag
	- Indigenous Rate	80.00	80.00	80.00	80.00	80.00	80.00
	Income Realisation
	- Indigenous	0.367	2.200	2.200	2.200	2.200	2.200
	Total Operating Income	0.367	2.200	2.200	2.200	2.200	2.200
4.	Commercial
	Installed Occupancy	27500	27500	27500	27500	27500	27500
	Capacity Utilisation	100%	100%	100%	100%	100%	100%
	Average Capacity Utilisation	17%	100%	100%	100%	100%	100%
	Operating Occupancy	4583	27500	27500	27500	27500	27500
	Rate Per Bag
	- Indigenous Rate	55.00	55.00	55.00	55.00	55.00	55.00
	Income Realisation
	- Indigenous	0.252	1.513	1.513	1.513	1.513	1.513
	-
	Total Operating Income	0.252	1.513	1.513	1.513	1.513	1.513
	Gross Operating Income	5.681	8.775	8.775	8.775	8.775	8.775
	Total Existing Income	5.063	5.063	5.063	5.063	5.063	5.063
	Total Expansion Income	0.619	3.713	3.713	3.713	3.713	3.713

------------------------------------------------------------------------------------------------------------------------------

PROJECTED BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
A	LIABILITIES
1	Shareholders Funds
	Capital	4.783	4.783	4.783	4.783	4.783	4.783
	Share Premium Account	0.000	0.000	0.000	0.000	0.000	0.000
	Profit and Loss (Surplus) A/c	1.747	1.998	2.545	3.102	3.923	4.978
	Cash Subsidy	1.271	1.271	1.271	1.271	1.271	1.271
	Total	7.801	8.052	8.599	9.156	9.977	11.032
2	Loan Funds
	Term Loans from Bank	14.850	12.913	10.330	7.748	5.165	2.583
	Term Loans for Vehicles	0.583	0.318	0.053	0.000	0.000	0.000
	Working Capital Loan	0.000	0.000	0.000	0.000	0.000	0.000
	Unsecured Loans	3.762	3.762	3.762	3.762	3.762	3.762
	Total	19.195	16.993	14.146	11.510	8.927	6.345
B	ASSETS
1	Fixed Assets
	Gross Block	23.882	23.882	23.882	23.882	23.882	23.882
	Depreciation upto date	1.165	3.920	6.310	8.388	10.200	11.783
	Net Block	22.718	19.962	17.572	15.494	13.682	12.099
2	Investments	0.316	0.316	0.316	0.316	0.316	0.316
3	Current Assets, Loans and Advances
	- Raw Material Stock	0.000	0.000	0.000	0.000	0.000	0.000
	- Stores and Spares Stock	0.000	0.000	0.000	0.000	0.000	0.000
	- Goods in Process Stock	0.000	0.000	0.000	0.000	0.000	0.000
	- Finished Goods Stock	0.000	0.000	0.000	0.000	0.000	0.000
	- Sundry Debtors	1.868	2.885	2.885	2.885	2.885	2.885
	- Loans and Advances	0.000	0.000	0.000	0.000	0.000	0.000
	- Other Current Assets	1.532	2.331	2.331	2.331	2.331	2.331
	- Cash and Bank Balance	1.362	0.729	0.818	0.817	0.868	0.923
	Gross Current Assets	4.762	5.945	6.034	6.033	6.084	6.139
	Less: Current Liabilities and Provision
	- Creditors for Goods	0.000	0.000	0.000	0.000	0.000	0.000
	- Creditors for Expenses	0.592	0.855	0.855	0.855	0.855	0.855
	- Other Current Liabilities	0.208	0.322	0.322	0.322	0.322	0.322
	Total Current Liabilities	0.800	1.177	1.177	1.177	1.177	1.177
	Net Current Assets	3.963	4.768	4.857	4.856	4.907	4.962
4	Miscellaneous Expenditure
	- P and P Expenses	0.000	0.000	0.000	0.000	0.000	0.000
	- Profit and Loss Account (Dr. Bal.)	--	--	--	--	--	--
		0.000	0.000	0.000	0.000	0.000	0.000
	Total Assets	26.997	25.046	22.745	20.666	18.905	17.377
5	Net Worth	7.801	8.052	8.599	9.156	9.977	11.032

------------------------------------------------------------------------------------------------------------------------------

BREAK EVEN SALES

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	Variable/ Fixed %	Amount
A	Sales At 100% Capacity			8.775
B	Variable Cost At 100% Capacity
	Consumable Stores Expenses	100%	0.180
	Power and Fuel
	- Power	90%	2.109
	- Fuel	100%	0.000
	Director Labour and Wages	80%	0.623
	Other Operating Expenses	100%	0.060
	Administrative Expenses	50%	0.212
	Selling and Distribution Expenses	100%	0.360
	Total Variable cost			3.545
C	Fixed Overheads
	Power and Fuel	10%	0.234
	Direct Labour and Wages	20%	0.156
	Repairs and Maintenance	100%	0.537
	Depreciation (Average of 7 Years)	100%	1.881
	Interest and Financial Charges (Average of 7 Years)	100%	0.823
	Administrative Expenses	50%	0.212
	Total Fixed Overheads			3.844
D	Contribution at 100% Capacity (Sales – Variable Cost)			5.230
F	Profit/ Volume Ratio Contribution / Sales			59.61%
G	Break Even Sales (Fixed Overheads/ PV Ratio)			64.49
H	Break Even Point (Break Even Sales/ Sales at 100% Capacity)			73.49%

------------------------------------------------------------------------------------------------------------------------------

CASH FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
A.	SOURCES OF FUNDS
1	Net Profit Before But After Depreciation with Interest Added Back	1.619	1.910	2.216	2.468	2.675	2.843
2	Depreciation	1.165	2.756	2.390	2.078	1.812	1.583
3	P & P Written off	0.000	0.000	0.000	0.000	0.000	0.000
4	Increase in Capital	1.500	--	--	--	--	--
5	Increase in Subsidy	0.000	--	--	--	--	--
6	Increase in Term Loans	14.850	--	--	--	--	--
7	Increase in Unsecured Loans	3.762	--	--	--	--	--
8	Increase in Bank W/c Loan	0.000	0.000	0.000	0.000	0.000	0.000
9	Sale of Fixed Assets	--	--	--	--	--	--
10	Increase in Current Liabilities	0.014	0.377	0.000	0.000	0.000	0.000
11	Decrease in Current Assets
	- Inventories	--	--	--	--	--	--
	- Debtors	--	--	--	--	--	--
	- Other Current Assets	--	--	--	--	--	--
12	Others	--	--	--	--	--	--
	Total Sources of Funds	22.910	5.043	4.606	4.546	4.487	4.427
B	DISPOSITION OF FUNDS
1	Increase in P & P Expenses	0.000	--	--	--	--	--
2	Increase in Capital Expenditure	19.800	--	--	--	--	--
3	Increase in Current Assets
	- Inventories	0.000	0.000	0.000	0.000	0.000	0.000
	- Debtors	0.327	1.017	0.000	0.000	0.000	0.000
	- Other Current Assets	(0.001)	0.799	0.000	0.000	0.000	0.000
4	Decrease in Cr. For Cap. Exp.	--	--	--	--	--	--
5	Repayment of Long Term Loans	0.265	2.202	2.848	2.636	2.583	2.583
6	Repayment of Unsecured Loans	--	--	--	--	--	--
7	Increase in Investments	0.000	0.000	0.000	0.000	0.000	0.000
8	Interest	0.370	1.650	1.359	1.043	0.743	0.446
9	Taxation	0.000	0.008	0.311	0.468	0.611	0.744
10	Others (Drawings)	0.000	0.000	0.000	0.400	0.500	0.600
	Total Disposition of Funds	20.761	5.676	4.517	4.547	4.436	4.372
C	Opening Cash Balance	0.714	1.362	0.729	0.818	0.817	0.868
D	Net Surplus	0.648	(0.633)	0.089	(0.000)	0.051	0.055
E	Closing Cash Balance	1.362	0.729	0.818	0.817	0.868	0.923

------------------------------------------------------------------------------------------------------------------------------

SECURITY / DOCUMENTATION

PRIMARY SECURITY:

· Hypothecation of Plant and Machinery installed out of bank funds and book debts and all the current assets of the company

· Proposed Construction

COLLATERAL SECURITY :

Entire Factory land located at Survey No.105/3, Block No. 114, Near Sachidanand Plantation, Dehgam, Bayed Highway Road, Village Sampa, Taluka Dehgam, District Gandhinagar, Gandhinagar – 382305 admeasuring 690 Sq. Mt. and existing cold storage plant constructed on the said land.

------------------------------------------------------------------------------------------------------------------------------

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
1.	Gross Sales
i	Existing Income	5.063	5.063	5.063	5.063	5.063	5.063
ii	Expansion Income	0.619	3.713	3.713	3.713	3.713	3.713
	Total	5.681	8.775	8.775	8.775	8.775	8.775
2.	Less: Excise Duty
3.	Net Sales	5.681	8.775	8.775	8.775	8.775	8.775
4.	%age rise(+) or fall (-) in net sales as compared to previous year	54.09	54.46	0.00	0.00	0.00	0.00
5.	Cost of Sales
i	Raw Materials (Including Stores and Other Items used in the process of manufacture)
a	Imported	0.000	0.000	0.000	0.000	0.000	0.000
b	indigenous	0.000	0.000	0.000	0.000	0.000	0.000
ii	Other Spares
a	Imported	0.000	0.000	0.000	0.000	0.000	0.000
b	indigenous	0.000	0.000	0.000	0.000	0.000	0.000
iii	Power and Fuel
iv	Direct Labour (Factory Wages and Salaries)	0.559	0.779	0.779	0.779	0.779	0.779
v	Other Manufacturing Expenses	0.218	0.299	0.359	0.418	0.478	0.538
vi	Depreciation	1.165	2.756	2.390	2.078	1.812	1.583
vii	Sub-Total (i to vi)	3.712	6.440	6.134	5.882	5.675	5.507
viii	Add: Opening Stock of Finished Goods	0.000	0.000	0.000	0.000	0.000	0.000
	Sub-Total	3.712	6.440	6.134	5.882	5.675	5.507
ix	Deduct: Closing Stock in Process	0.000	0.000	0.000	0.000	0.000	0.000
x	Cost of Production	3.712	6.440	6.134	5.882	5.675	5.507
xi	Add: Opening Stock of Finished Goods	0.000	0.000	0.000	0.000	0.000	0.000
	Sub-Total	3.712	6.440	6.134	5.882	5.675	5.507
xii	Deduct: Closing Stock of Finished Goods	0.000	0.000	0.000	0.000	0.000	0.000
xiii	Sub – Total (Total Cost of Sales)	3.712	6.440	6.134	5.882	5.675	5.507
6	Selling, General and Administrative Expenses	0.350	0.425	0.425	0.425	0.425	0.425
7	Sub-Total (5+6)	4.062	6.865	6.559	6.307	6.100	5.932
8	Operating Profit Before Interest (3-7)	1.619	1.910	2.216	2.468	2.675	2.843
9	Interest	0.370	1.650	1.359	1.043	0.743	0.446
10	Operating Profit After Interest (8-9)	1.249	0.259	0.858	1.426	1.932	2.398
11.i)	Add: Other Non-operating Income
a	Interest	0.000	0.000	0.000	0.000	0.000	0.000
b	Dividend	--	--	--	--	--	--
c	Other	--	--	--	--	--	--
	Sub-Total (Income)	--	--	--	--	--	--
ii	Deduct: Other Non-operating Expenses
a	P & P Written off	0.000	0.000	0.000	0.000	0.000	0.000
b	Directors Remuneration	0.000	0.000	0.000	0.000	0.000	0.000
c	Salary to Partners	0.000	0.000	0.000	0.000	0.000	0.000
	Sub-Total (Expenses)	0.000	0.000	0.000	0.000	0.000	0.000
iii	Net of Other Non-operating Income/ Expenses (Net of 11(i) & 11(ii))	0.000	0.000	0.000	0.000	0.000	0.000
12	Profit Before Tax/Loss [10+11(iii)]	1.249	0.259	0.858	1.426	1.932	2.398
13	Provision for Taxes	0.000	0.008	0.311	0.468	0.611	0.744
14	Net Profit/Loss (12-13)	1.249	0.251	0.547	0.957	1.321	1.654
15. a.	Equity Dividend Paid	0.000	0.000	0.000	0.400	0.500	0.600
b	Dividend Rate	0.000	0.000	0.000	0.008	0.010	0.013
16	Retained Profit (14-15)	1.249	0.251	0.547	0.557	0.821	1.054
17	Retained Profit/ Net Profit (% age)	0.100	0.100	0.100	0.058	0.062	0.064

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
	CURRENT LIABILITIES
1	Short-term borrowings from Banks (Including Bills Purchased/ Discounted and Excess Borrowings Places on Repayment Basis)
i	From Applicant Bank	0.000	0.000	0.000	0.000	0.000	0.000
ii	From Other Banks	--	--	--	--	--	--
iii	(Of which BP and BD)	0.000	0.000	0.000	0.000	0.000	0.000
	Sub-Total (A)	0.000	0.000	0.000	0.000	0.000	0.000
2	Short-term Borrowings from Others	--	--	--	--	--	--
3	Sundry Creditors (Trade)	0.000	0.000	0.000	0.000	0.000	0.000
4	Advance Payments from Customers/ Deposits from Dealers	--	--	--	--	--	--
5	Provision for Taxation	0.000	0.000	0.000	0.000	0.000	0.000
6	Dividend Payable	0.000	0.000	0.000	0.000	0.000	0.000
7	Other Statutory Liabilities (Due within One Year)	0.000	0.000	0.000	0.000	0.000	0.000
8	Deposits/ Instalments of Term Loans/ DPGs/ Debentures, etc. (Due within One Year)	2.202	2.848	2.636	2.583	2.583	2.583
9	Other Current Liabilities and Provisions (Due within One Year) (Specify Major Items)	0.800	1.177	1.177	1.177	1.177	1.177
	Sub-Total (B)	3.002	4.025	3.813	3.760	3.760	3.760
10	TOTAL CURRENT LIABILITIES (Total of 1 to 9)	3.002	4.025	3.813	3.760	3.760	3.760
	TERM LIABILITIES
11	Debenture (Not Maturing within one year)	0.000	0.000	0.000	0.000	0.000	0.000
12	Preference Shares (Redeemable After One Year)	0.000	0.000	0.000	0.000	0.000	0.000
13	Term Loans (Excluding Instalments Payable within one year)	12.913	10.330	7.748	5.165	2.583	0.000
14	Deferred Payment Credits (Excluding Instalments Due within One Year)	0.000	0.000	0.000	0.000	0.000	0.000
15	Term Deposits (Repayable after one year)	3.762	3.762	3.762	3.762	3.762	3.762
16	Other Tem Liabilities (Vehicle Loan)	0.318	0.053	0.000	0.000	0.000	0.000
17	TOTAL TERM LIABILITIES	16.993	14.146	11.510	8.927	6.345	3.762
18.	TOTAL OUTSIDE LIABILITIES (10+17)	19.995	18.170	15.323	12.687	10.105	7.522
	NET WORTH
19	Ordinary Share Capital 14% Convertible Debentures	4.783	4.783	4.783	4.783	4.783	4.783
20	General Reserve	0.000	0.000	0.000	0.000	0.000	0.000
21	Investment Allowance Reserve	0.000	0.000	0.000	0.000	0.000	0.000
22	Other Reserves (Excluding Provisions)	1.271	1.271	1.271	1.271	1.271	1.271
23	Surplus (+) or Deficit (-) in Profit and Loss Account	1.747	1.998	2.545	3.102	3.923	4.978
24	NET WORTH	7.801	8.052	8.599	9.156	9.977	11.032
25	TOTAL LIABILITIES (18+24)	27.796	26.223	23.922	21.843	20.082	18.554
	CURRENT ASSETS
26	Cash and Bank Balance	1.362	0.729	0.818	0.817	0.868	0.923
27	Investments (Other than Long Term Investments)
i	Government and Other Trustee Securities	0.000	0.000	0.000	0.000	0.000	0.000
ii	Fixed Deposits with Banks	0.000	0.000	0.000	0.000	0.000	0.000
28. i.	Receivables other than Deferred and Exports (Including Bills Purchased and Discounted by Banks)	1.868	2.885	2.885	2.885	2.885	2.885
ii	Exports Receivables (Including Bills Purchased/ Discounted by Banks)	0.000	0.000	0.000	0.000	0.000	0.000
29	Instalments of Deferred Receivables (Due within One Year)	0.000	0.000	0.000	0.000	0.000	0.000
30	Inventory
i	Raw Materials (Including Stores and Other Iterms used in the Process of manufacture)
a	Imported	0.000	0.000	0.000	0.000	0.000	0.000
b	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
ii	Stock in Process	0.000	0.000	0.000	0.000	0.000	0.000
iii	Finished Goods	0.000	0.000	0.000	0.000	0.000	0.000
iv	Other Consumable Spares
a	Imported	0.000	0.000	0.000	0.000	0.000	0.000
b	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
31	Advances to Suppliers of Raw Materials and Stores/ Spares	0.000	0.000	0.000	0.000	0.000	0.000
32	Advance Payment of Taxes	--	--	--	--	--	--
33	Other Current Assets (Specify Major Items)	1.532	2.331	2.331	2.331	2.331	2.331
34	TOTAL CURRENT ASSETS (Total of 26 to 33)	4.762	5.945	6.034	6.033	6.084	6.139
	FIXED ASSETS
35	Gross Block (Land, Building, Machine, etc and Other Work in Progress)	23.882	23.882	23.882	23.882	23.882	23.882
36	Depreciation to date	1.165	3.920	6.310	8.388	10.200	11.783
37	NET BLOCK (36-36)	22.718	19.962	17.572	15.494	13.682	12.099
38	OTHER NON-CURRENT ASSETS Investments/ Book Debts/ Advances/ Deposits which are Non-Current Assets
i. a.	Investments in subsidiary Companies/ Affiliates	0.000	0.000	0.000	0.000	0.000	0.000
b.	Others	0.115	0.115	0.115	0.115	0.115	0.115
ii	Advances to suppliers of Capital Goods and Contractors	0.000	0.000	0.000	0.000	0.000	0.000
iii	Deferred Receivables (Maturity Exceeding One Year)	0.000	0.000	0.000	0.000	0.000	0.000
iv	Others (Deferred Tax Assets)	0.201	0.201	0.201	0.201	0.201	0.201
39	Non Consumables Stores and Spares	0.000	0.000	0.000	0.000	0.000	0.000
40	Other Non-Current Assets including Dues form Directors	0.000	0.000	0.000	0.000	0.000	0.000
41	TOTAL OTHER NON CURRENT ASSETS (Total of 38 to 40)	0.316	0.316	0.316	0.316	0.316	0.316
42	Intangible Assets (Patents, Goodwill, Preliminary Expenses, Bad/ Doubtful Debts Not Provided for, etc.)	0.000	0.000	0.000	0.000	0.000	0.000
43	TOTAL ASSETS (Total of 34, 37, 41 & 42)	27.796	26.223	23.922	21.843	20.082	18.554
44	TANGIBLE NET WORTH (24-42)	7.801	8.052	8.599	9.156	9.977	11.032
45	NET WORKING CAPITAL (17+24) – (37+41+42) to Tally with (34-10)	1.761	1.920	2.221	2.274	2.324	2.379
46	Current Ratio (Item 34/10)	1.59	1.48	1.58	1.60	1.62	1.63
47	Total Outside Liabilities/ Tangible Net Worth (18/44)	2.56	2.26	1.78	1.39	1.01	0.68

------------------------------------------------------------------------------------------------------------------------------

FUND FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
1	SOURCES
a	Net Profit After Tax	1.249	0.251	0.547	0.957	1.321	1.654
b	Depreciation	1.165	2.756	2.390	2.078	1.812	1.583
c	Increase in Capital	0.000	0.000	0.000	0.000	0.000	0.000
d	Increase in Term Liabilities (Including Public Deposits)	16.410	0.000	0.000	0.000	0.000	0.000
e	Decrease in
i	Fixed Assets	0.000	0.000	0.000	0.000	0.000	0.000
ii	Other Non-Current Assets	0.000	0.000	0.000	0.000	0.000	0.000
f	Other (P & P Written Off)	0.000	0.000	0.000	0.000	0.000	0.000
g	TOTAL	18.824	3.007	2.936	3.035	3.133	3.238
2	USES
a	Net Loss	0.000	0.000	0.000	0.000	0.000	0.000
b	Decrease in Term Liabilities (Including Public Deposits)	0.000	2.848	2.636	2.583	2.583	2.583
c	Increase in
i	Fixed Assets	6.962	0.000	0.000	0.000	0.000	0.000
ii	Other Non-Current Assets	0.000	0.000	0.000	0.000	0.000	0.000
d	Dividend Payments	0.000	0.000	0.000	0.000	0.000	0.000
e	Others (Increase in P & P Expense)	0.000	0.000	0.000	0.000	0.000	0.000
f	TOTAL	6.962	2.848	2.636	2.983	3.083	3.183
3	Long Term Surplus(+)/ Deficit(-)(1-2)	11.861	0.160	0.301	0.053	0.051	0.055
4	Increase/ Decrease in Current Assets * (As per Details Given Below)	0.974	1.183	0.089	(0.000)	0.051	0.055
5	Increase/ Decrease in Current Liabilities other than Bank Borrowings	1.951	1.023	(0.212)	(0.053)	0.000	0.000
6	Increase/ Decrease in Working Capital Gap	(0.976)	0.160	(0.301)	0.053	0.051	0.055
7	Net Surplus(+)/ Deficit (-) (Difference of 3 & 6)	12.838	0.000	(0.000)	0.000	0.000	0.000
8	Increase/ Decrease in Bank Borrowings	0.000	0.000	0.000	0.000	0.000	0.000
	INCREASE/ DECREASE IN NET SALES	1.994	3.094	0.000	0.000	0.000	0.000
	*Break-Up of (4)
	i) Increase/ Decrease in Raw Materials	0.000	0.000	0.000	0.000	0.000	0.000
	ii) Increase/ Decrease in Stock in Process	0.000	0.000	0.000	0.000	0.000	0.000
	iii) Increase/ Decrease in Finished Goods	0.000	0.000	0.000	0.000	0.000	0.000
	iv) Increase/ Decrease in Receivable
	a) Domestic	0.327	1.017	0.000	0.000	0.000	0.000
	b) Export	0.000	0.000	0.000	0.000	0.000	0.000
	v) Increase/ Decrease in Stores and Spares	0.000	0.000	0.000	0.000	0.000	0.000
	vi) Increase/ Decrease in Other Current Assets	0.647	0.166	0.089	(0.000)	0.051	0.055
	TOTAL	0.974	1.183	0.089	(0.000)	0.051	0.055

------------------------------------------------------------------------------------------------------------------------------

COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
A.	CURRENT ASSETS
1	Raw Materials (Including Stores and Other Items used in the Process of Manufacture)
a	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	(Months Consumption)	0.00	0.00	0.00	0.00	0.00	0.00
b	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	(Months Consumption)	0.00	0.00	0.00	0.00	0.00	0.00
2	Other Consumable Spares (Excluding those covered in 1. Above)
a	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	(Months Consumption)	0.00	0.00	0.00	0.00	0.00	0.00
b	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	(Months Consumption)	0.00	0.00	0.00	0.00	0.00	0.00
3	Stock in Process	0.000	0.000	0.000	0.000	0.000	0.000
	(Months Cost of Production)	0.00	0.00	0.00	0.00	0.00	0.00
4	Finished Goods	0.000	0.000	0.000	0.000	0.000	0.000
	(Months Cost of Sales)	0.00	0.00	0.00	0.00	0.00	0.00
5	Receivables other than Export and Deferred Receivables (Including Bills Purchased and Discounted by Banks)	1.868	2.885	2.885	2.885	2.885	2.885
	(Months Domestic Sales: Excluding Deferred Payment Sales)	(4.43)	(6.84)	(6.84)	(6.84)	(6.84)	(6.84)
6	Export Receivables (Including Bills Purchased and Discounted by Banks)	0.000	0.000	0.000	0.000	0.000	0.000
	(Months Export Sales)	0.00	0.00	0.00	0.00	0.00	0.00
7	Advances to the Suppliers of Raw Materials and Stores, Spares and Consumables	0.000	0.000	0.000	0.000	0.000	0.000
8	Other Current Assets including Cash and Bank Balances, Deferred Receivable due within one year (Specify Major Items)	2.894	3.060	3.149	3.148	3.199	3.254
9	TOTAL CURRENT ASSETS (To Agree with Item 34 in Form-III)	4.762	5.945	6.034	6.033	6.084	6.139
B.	CURRENT LIABILITIES (Other than Bank Borrowings for Working Capital)
10	Creditors for Purchase of Raw Materials, Sores and Consumable Spares	0.000	0.000	0.000	0.000	0.000	0.000
	(Month’s Purchases)	0.00	0.00	0.00	0.00	0.00	0.00
11	Advances from Customers	0.000	0.000	0.000	0.000	0.000	0.000
12	Statutory Liabilities	0.000	0.000	0.000	0.000	0.000	0.000
13	Other Current Liabilities (Specify Major Items)
i	Short-Term Borrowings	0.000	0.000	0.000	0.000	0.000	0.000
ii	Unsecured Loans	0.000	0.000	0.000	0.000	0.000	0.000
iii	Dividend Payables	0.000	0.000	0.000	0.000	0.000	0.000
iv	Installments of Term Loans, DPG, Public Deposits, Debentures, etc.	2.202	2.848	2.636	2.583	2.583	2.583
v	Others	0.800	1.177	1.177	1.177	1.177	1.177
14	TOTAL CURRENT LIABILITIES (To Agree with Sub Total B-Form-III)	3.002	4.025	3.813	3.760	3.760	3.760

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimates	Projection	Projection	Projection	Projection	Projection
1	Total Current Assets (9 IN Form-IV)	4.762	5.945	6.034	6.033	6.084	6.139
2	Other Current Liabilities (other than Bank Borrowings) (14 of Form-IV)	3.002	4.025	3.813	3.760	3.760	3.760
3	Working Capital Gap (WCG) (1-2)	1.761	1.920	2.221	2.274	2.324	2.379
4	Minimum Stipulated Net Working Capital i.e. 25% of WCG or 25% of Total Current Assets, as the Case may be depending upon the Method of Lending being Applied. (Export Receivables to be excluded under both methods)	0.440	0.480	0.555	0.568	0.581	0.595
5	Actual/ Projected Net Working Capital (45 in Form-III)	1.761	1.920	2.221	2.274	2.324	2.379
6	Item 3 Minus Item 4	1.321	1.440	1.666	1.705	1.743	1.785
7	Item 3 Minus Item 5	0.000	0.000	0.000	0.000	0.000	0.000
8	Maximum Permissible Bank Finance (Item 6 or 7 Whichever in Lower)	0.000	0.000	0.000	0.000	0.000	0.000
9	Excess Borrowings Representing Short Fall in Net Working Capital (4-5)	0.000	0.000	0.000	0.000	0.000	0.000

------------------------------------------------------------------------------------------------------------------------------

NETWORTH STATEMENT

MR. DINESHBHAI BANSILAL PATEL

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

ASSETS	OWN/ JOINT NAME	AREA	FREE FOR LEASEHOLD	LOCATION ADDRESS	PRESENT VALUE	WHETHER ENCUMBERED
Resident House	No	310	-	30, Jaynagar Society, Behind Swami Narayan Society, Rambaug Maninagar, Ahmedabad – 380028, Gujarat, India	2.000	No
TOTAL					2.000

INVESTMENT IN GOVERNMENT, SECURITIES LIKE BONDS/ PPF/NSC/KVP, ETC.

BOND/ CERT. NO.	NATURE OF SECURITIES	DATE OF PURCHASE	ISSUING OFFICE	FACE VALUE	DUE DATE	MARKET VALUE
10191805536	PPF	--	SBI	0.654	--	0.654
TOTAL VALUE OF BONDS/ PPF/ NSC/ KVP, ETC.						0.654

CAPITAL INVESTED IN BUSINESS

S.NO.	NAME OF COMPANY/ FIRM	ADDRESS	AMOUNT INVESTED
1	Kalp Plywood Private Limited	Ahmedabad	0.555
2	Kalp Cold Storage Private Limited	Dehgam	0.758
TOTAL INVESTMENT			1.313

OTHER INVESTMENT/ ASSETS

S.NO.	NAME OF TRUST/ SOCIETY/ SUBSIDIARIES	ADDRESS	AMOUNT INVESTED
1	Kalp Plywood Private Limited	Ahmedabad	1.903
TOTAL INVESTMENT			1.903

GRAND TOTAL OF ALL INVESTMENT

3.870

LEGAL HEIRS DETAILS

SR/ NO.	NAME OF LEGAL HEIRS	OCCUPATION	RELATION	AGE	MARTIAL	ADDRESS
1	Pritiben D. Patel	House Wife	Wife	53	M	30, Jaynagar Society, Behind Swami Narayan Society, Rambaug Maninagar, Ahmedabad – 380028, Gujarat, India
2	Helly D. Patel	Student	Daughter	23	UM
3	Fagun D. Patel	Student	Son	19	UM

------------------------------------------------------------------------------------------------------------------------------

NETWORTH STATEMENT

MR. KAMLESHKUMAR BANSILAL KACHHIYA

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

ASSETS	OWN/ JOINT NAME	AREA	FREE FOR LEASEHOLD	LOCATION ADDRESS	PRESENT VALUE	WHETHER ENCUMBERED
Resident House	No	400	Free	5, Shreeji Society, Metpur Road, Khambhat, Gujarat, India	1.000	No
TOTAL					1.000

INVESTMENT IN GOVERNMENT, SECURITIES LIKE BONDS/ PPF/NSC/KVP, ETC.

BOND/ CERT. NO.	NATURE OF SECURITIES	DATE OF PURCHASE	ISSUING OFFICE	FACE VALUE	DUE DATE	MARKET VALUE
31868348586	PPF	--	--	0.090	--	0.090
TOTAL VALUE OF BONDS/ PPF/ NSC/ KVP, ETC.						0.090

CAPITAL INVESTED IN BUSINESS

S.NO.	NAME OF COMPANY/ FIRM	ADDRESS	AMOUNT INVESTED
1	Kalp Cold Storage Private Limited	Dehgam	0.100
TOTAL INVESTMENT			0.100

OTHER INVESTMENT/ ASSETS

S.NO.	NAME OF TRUST/ SOCIETY/ SUBSIDIARIES	ADDRESS	AMOUNT INVESTED
1	Kalp Cold Storage Private Limited	Ahmedabad	0.158
TOTAL INVESTMENT			0.158

GRAND TOTAL OF ALL INVESTMENT

0.348

LEGAL HEIRS DETAILS

SR/ NO.	NAME OF LEGAL HEIRS	OCCUPATION	RELATION	AGE	MARTIAL	ADDRESS
1	Ritaben Kamaleshbhai Kachhia	Househod	Wife	52	M	5, Shreeji Society, Metpur Road, Khambhat, Gujarat, India
2	Ravi Kamaleshbhai Patel	Services	Son	28	M
3	Sujal Kamaleshbhai	Services	Son	26	UM

------------------------------------------------------------------------------------------------------------------------------

NETWORTH STATEMENT

MR. INDRAVADAN TRIKAMLAL THAKKAR

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

ASSETS	OWN/ JOINT NAME	AREA	FREE FOR LEASEHOLD	LOCATION ADDRESS	PRESENT VALUE	WHETHER ENCUMBERED
Resident House	--	450	--	15, Prahladnagar-Rivera-30, Co-operative Society, Opposite Paras Bung, Opposite Shivalik Acord, Satellite, Ahmedabad – 380015, Gujarat, India	4.000	No
TOTAL					4.000

CAPITAL INVESTED IN BUSINESS

S.NO.	NAME OF COMPANY/ FIRM	ADDRESS	AMOUNT INVESTED
1	Shree Hari Tradelink Private Limited	Ahmedabad	0.421
2	Kalp Cold Storage Private Limited	Dehgam	0.490
TOTAL INVESTMENT			0.911

OTHER INVESTMENT/ ASSETS

S.NO.	NAME OF TRUST/ SOCIETY/ SUBSIDIARIES	ADDRESS	AMOUNT INVESTED
1	Shree Hari Tradelink Private Limited	Ahmedabad	0.509
TOTAL INVESTMENT			0.509
GRAND TOTAL OF ALL INVESTMENT			1.420

LEGAL HEIRS DETAILS

SR/ NO.	NAME OF LEGAL HEIRS	OCCUPATION	RELATION	AGE	MARTIAL	ADDRESS
1	Indira Indravadan Thakkar	Business	Wife	49	Married	15, Prahladnagar-Rivera-30, Co-operative Society, Opposite Paras Bung, Opposite Shivalik Acord, Satellite, Ahmedabad – 380015, Gujarat, India

------------------------------------------------------------------------------------------------------------------------------

NETWORTH STATEMENT

MR. HARSHADKUMAR BANSILAL KACHHIA

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

ASSETS	OWN/ JOINT NAME	AREA	FREE FOR LEASEHOLD	LOCATION ADDRESS	PRESENT VALUE	WHETHER ENCUMBERED
Resident House	Yes	--	--	5, Shrijisociety At Metpur, District Anand, Khambhat - 388620, Gujarat, India	4.500	Yes
TOTAL					4.500

INVESTMENT IN GOVERNMENT, SECURITIES LIKE BONDS/ PPF/NSC/KVP, ETC.

BOND/ CERT. NO.	NATURE OF SECURITIES	DATE OF PURCHASE	ISSUING OFFICE	FACE VALUE	DUE DATE	MARKET VALUE
31867739716	PPF	--	--	0.090	--	0.090
TOTAL VALUE OF BONDS/ PPF/ NSC/ KVP, ETC.						0.090

CAPITAL INVESTED IN BUSINESS

S.NO.	NAME OF COMPANY/ FIRM	ADDRESS	AMOUNT INVESTED
1	Kalp Cold Storage Private Limited	Dehgam	0.100
TOTAL INVESTMENT			0.100

OTHER INVESTMENT/ ASSETS

S.NO.	NAME OF TRUST/ SOCIETY/ SUBSIDIARIES	ADDRESS	AMOUNT INVESTED
1	Kalp Cold Storage Private Limited	Ahmedabad	0.128
TOTAL INVESTMENT			0.128

GRAND TOTAL OF ALL INVESTMENT

0.318

LEGAL HEIRS DETAILS

SR/ NO.	NAME OF LEGAL HEIRS	OCCUPATION	RELATION	AGE	MARTIAL	ADDRESS
1	Sudhaben Harshadbhai Patel	Household	Wife	50	M	5, Shrijisociety At Metpur, District Anand, Khambhat - 388620, Gujarat, India
2	Smit Harshadbhai Patel	Student	Son	20	UM
3	Meet Harshadbhai Patel	Student	Son	18	UM

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PROJECT REPORT

BACKGROUND OF THE COMPANY

Subject is an existing profit making company in existence for the last more than 17 years engaged in Cold Storage activity for preservation of agricultural produce and particularly potatoes.

The company was formed on 03/07/1977 vide registration no U63020GJ1997PTC032612 alloted by Ministry of Corporate Affairs (ROC).

The company set up a cold storage plant at village sampa in Gandhinagar district for preservation of potatoes with capacity of 75000 bags of 50 kg each i.e. 3750 MT pa.

The project was installed and commissioned by Fabron Airtech Engineer on turnkey basis. The paid up share capital as on 31.03.2014 is Rs. 4.783 Millions and the Reserves and surplus is Rs. 1.769 Millions.

PRESENT BANKING

The company is presently banking with State Bank of India, Dehgam Branch, Station Road, District Gandhinagar. The company has current Account No. 32499319179, Ahmedabad.

The company also has a Car Loan from Mehsana Urban Co-operative Bank Limited and the installments are paid regularly.

MARKETING

The cold storage was set up in 1997 i.e. 17 years ago. For the last 17 years in addition to other agricultural produces the cold storage has relied on potatoes and potato seeds. Due to huge crop of potatoes in and around Dehgam it is imperative to have a cold storage facility in the area. Inspite of 16 Cold Storages available in and around Dehgam, the farmers have to go far off to places like Boriavi, Vijapur, Ahmedabad, Mehsana, etc. to store their produce as it is perishable. The cold storages are booked in the month of February and then after 8 to 9 Months gradually the produce is taken out to meet the consumption requirements.

For the 17 years that they have been in existence so many times they have had to refuse storage to the farmers/ customers as the storage facility was full.

The following is the List of the other cold storages near their cold storage plant with their capacities.

Sr. No.	Name of the Cold Storage	Capacity
1	Shivam Cold Storage	250000 Bags
2	Shiv Shakti	250000 Bags
3	Krishna Cold Storage	425000 Bags

The Cold Storage can also be utilized in different mode as under:

1. The storage space can be rented out to the small and medium size farmer and Villagers producing potatoes on rental basis complete season.

2. In can also be rented out for storing dry fruits, milk and milk products, vegetable, fruits, other agricultural produces and other frozen foods.

3. The firm may keep commodities on pooling method for storage and latter on selling out during the off season. In this case it will be a risk involved and more working capital would be required.

4. Storage of Potatoes and Selling to the farmers better quality seeds.

PRESENT INFRASTRUCTURE

UTILITIES (IN BRIEF)

POWER

The Company already has 125 Hp power. Power supply is easily available from Uttar Gujarat Vij. Company Limited for 24 hours. The present load of power is sufficient to take care of the expansion requirements.

WATER

Water is required only for drinking and sanitation. Water is required for condensation to operate the cold storage plant. The water requirement will be met out the company’s own bore at the plant.

MANPOWER

The company is having about 7 employees. The company operates round the clock. The employees are basically Manager, Operators, Assistant Operators and Accountants.

LAND AND BUILDING

The company is having about 7 employees. The existing cold storage is built and operating with capacity of 75000 bags of 50 kg each is operating.

PLANT AND MACHINERY

The Plant and Machinery comprises of Refrigeration and Insulation. The contract for installation, erection and commissioning of proposed cold storage plant has been given to Fabron Airtech Engineers who will carry out the work on turnkey basis. The proposed cost of Plant and Machinery is Rs. 6.800 Millions

The existing cold storage was also set up by Fabron Airtech Engineers in the year 1997 at a total cost of Rs. 3.800 Millions. The plant is working to their satisfaction.

COLD STORAGE COOLING PROCESS

The proposed cold storage plant is a processing unit. The process consist of keeping the cooling system inside the storage building fully circulated so as to maintain the temperature at fixed level so that the stores agriculture produce saved from getting decayed and useless. The process of cooling is explained as under:

1. Diffusers are installed inside the storage building. Ammonia in liquid from is passed through pipe lines from ammonia tank in the diffuser.

2. After diffusers are loaded with liquefied gas, the air is circulated around diffusers for cooling. Cold air is rotated inside the building with help of ducting arrangement.

3. During the process of air circulation around the diffusers the liquid ammonia become hot and starts transforming into gas. The gas is sucked through pipes by the air compressors machine installed in machine room

4. The compressed ammonia gas is brought through pipelines in cooling tank. The gas become cold pipe line by circulation of water outside the pipes. The circular flow of water outside pipeline makes the ammonia gas cold and the help to convert the gas into liquid form.

5. Finally, the liquid ammonia is transferred and loaded in ammonia tank for sending it again in diffusers for cooling the air.

Thus, it is cyclical process in which the cooling of air is secured with help of ammonia.

LOCATION ADVANTAGES

Gandhinagar is the capital of Gujarat. It has an area of 649 Km² and a population of 1334731 (1991 census). The district includes four talukas and 216 Villages. Gandhinagar District is bounded by the distruicts of Sabarkantha to the northeast, Kheda to the Southeast, Gandhinagar to Southwest, and Mehsana to the Northwest. Connected ti Gandhinagar by the Sarkhej-Gandhinagar Highway and with Vadodara with Gandhinagar-Vadodara Highway, these there cities form the top population centers and commercial heart of Gujarat and Western India.

SUBSIDY

As per revised policy of National Horticulture mission during XI Plan proposed cold storage will be eligible for credit linked back-ended subsidy @35% of the capital cost of project. This Subsidy is available to only those units which adopt new technologies which are energy efficient with provision of insulation, humidity control and fin coil cooling system with provision of multi chambers. Technical standards, parameters and protocol issued by the department to be adopted. It is also offer other benefits such as sales tax exemption, service tax exemption, rebate on electricity tariff, exemption on Octroi duty and property taxes and exemption in excise duty on purchase plant and machineries.

Gujrat state government has also announced 15% additional capital investment subsidy frorm the year 2012.

CONCLUSION

In the view of above details, it is revealed that the directors of the company are well experienced and have established themselves to successfully run the unit. Also, they have more than 17 Years of experience in running a cold storage unit. Hence, they do not envisage any difficulty in running the cold storage successfully.

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VALUATION REPORT

GENERAL DETAILS

Purpose of Valuation

To ascertain present market value of freehold interest in non-agriculture land and building there on

Date of Visit

10/11/2014

Persons accompanying/ available at the site at the time of visit/ valuation

Mr. Harshadbhai

Complete address of the property (Door No/ Street/ Cross Road, Survey No., etc.)

R.S. No. 105/3, Block No. 114, M/s. Kalp Cold Storage Private Limited, Bayad – Dahegam Highway Road, At: Sampa, Taluka: Dahegam, District: Gandhinagar

Boundaries

East

Block No.: 112

West

Block No.: 115

North

Block No.: 110-111

South

Bayad – Dahegam Highway Road

Title of the Property

Name of the Owner/s

Kalp Cold Storage Private Limited

Director : Indravadan Trikamal Thakkar

Since how long owing the property

In Year 1997 through Registered Sale Deed

Whether Joint/ Co-ownership/ Other

Yes, Joint Ownership

In Case of Joint Ownership, furnish shares of each owner and whether the share are undivided?

As per Resolution of Company or Partnership Deed

Whether assessed to wealth, if so wealth tax paid

N.A.

Corporation Tax paid

Amount

Year of Assessment

Date of Payment

Receipt is not on Record

Agreements of easements if any and if so attach copies

N.A.

Restrictive clauses as to uses, if any (whether building use certificate from corporation has been obtained, etc.)

Godown Purpose. Non Agriculture permission is obtained from Taluka Panchayat Office, Vide permission No.: TP/LND/NA/SR-42/1997-98.

Dated: 01/08/1997

Location Advantages/ Disadvantages

Schools, Resi. Society, Markets, Bus Stand, etc available at Dahegam which is at 5 Kms

Classification of Locality: Higher Class/ Middle Class/ Poor Class

Agriculture Cum Commercial Area

Civic Amenities

All located within 4 or 5 kms which is at Dahegam

Proximity to surface communication

The property is situated on Bayad – Dahegam Highway Road

Distance from City/ Municipal Limits

Within Sampa Grampanchayat Limit

If the property is not within the city/ town Municipal limits then state the distance of the property from the Municipal Office

Within Grampanchayat Limit

Municipal Limits

Within Sampa Grampanchayat Limits

Disadvantages if any to be specified

Nil

Title of the property

Whether freehold

Freehold

If not freehold, what is unexpired period of Lease?

N.A.

If leasehold, name of the lessor/ lessee nature of lease, date of commencement and forms of renewal of lease

N.A.

Rent per annum

N.A.

Unearned increases payable to the lessor in the event of safe or transfer

N.A.

Agriculture

N.A.

Industrial

N.A.

Residential (Flat Apartment) (any restrictive clauses for sale etc. to be furnished) renewal of lease

N.A.

Commercial

Yes, Cold Storage Purpose

Institutional

N.A.

Others (Specify)

N.A.

What is the -

Year of acquisition purchase of land

In year 1997 through Registered Sale Deed

Value/ Purchase price paid

Rs. 0.125 Million through Registered Sale Deed No.: 610

Dated: 07/08/1997

Year of Construction of super structure/ purchase of building

Approx. 15 Years Old

Number of Floor/ Storeys

Cold Storage Building and Allied Construction

Year of Construction

Approx. 15 Years Old

Additions/ Improvements carried out if any state briefly nature of additional cost there of

As per Valuation

Present written down value

As per Valuation

Valuer’s opinion regarding present condition/ state of building

As per Valuation

Estimate future life

Approx. 45 Years

Area of land to be supported by a map showing shape, dimensions, physical features

6900.00 Sq. Mtr.

Has the whole or part of the land been notified for acquisition by Government or Statutory body? If so give details

N.A.

Area of building/ constructed portion (State separately for factory, Admn., Building, Staff Quarters, etc.)

As per Valuation

Type/ Class of Construction

BB Masonry load bearing, Portal Frame Structure and M.S. Frame Structure

Service items available (list of all items to be provided – such as bore-well sump embedded. Motors, BMC Water Supply, Sanitary Disposal Systems, Canteen Stores, etc.)

Water Connection provided by Private bore well Drainage is connected to soak pit and Soak well

If the property is industrial -

Yes

State of what type of activity/ industry the premise is well suited

Any Cold Storage Purpose

Sanctioned/ connected power load

--

Type of activity presently going on at the premises

Cold Storage

Whether the property is residential flat apartment if so, than state:

N.A.

When the building was constructed

N.A.

Whether full consideration has been paid and proper title documents obtained and produced for verification?

N.A.

In which floor/ storey, flat is located

N.A.

If the property is of a commercial type state

N.A.

For what purpose the same is well suited (Office Purpose/ Business, etc.)

N.A.

The present activity/ business being

N.A.

If the property is agriculture state

N.A.

Whether dry or wet lands

N.A.

Migration facility available

N.A.

Type of crops grown and annual yield income in the previous year

N.A.

Whether building/ property is constructed strictly according to the sanctioned plan details of variation, noticed if any and effect of the same on the valuation to be dealt with specially

Godown Purpose. Non Agriculture permission is obtained from Taluka Panchayat Office, Vide Permission No.: TP/LND/NA/SR-42/1997-98.

Dated: 01/08/1997

Whether the property is self-occupied or tenanted/ let out, if tenanted/ let out

Occupied by: Kalp Cold Storage Private Limited

Since How Long

--

To how many tenants

--

What is the total monthly income

--

If party owner occupied specify portion and extent of area under owner occupation

Fully Owner Occupied

Whether the said property was valued earlier? If so,

N.A.

Date of Valuation

--

Name and Address of Valuer

--

Whether in the approved panel of Bank

--

Purpose of earlier valuation

--

Basis of Valuation

--

Also, submit/ enclose a copy of the earlier valuation report

--

Basis of Present Valuation

Present Depreciated Value

As per Valuation

Market Value

--

Rate Adopted

Rs. 3000.00 Sq. Mtr for Land Component

Basis for adopted rates

By inquiry in surrounding

Whether the adopted rates are commensurate with the rates adopted by the registrar’s office? In case of wide variation, please specify reasons

Yes, wide variation is observed because rates fixed by registrar’s Office are not based on scientific studies and same cannot be applicable for ascertaining present market value

Whether the adopted rates have any relationship with those adopted by I.T. Dept.

We have adopted rates as per open market in area

Whether the rates are based on prevalent rates in the area if so, the basis of accepting the same

Yes, by Inquiry

Incase of increase in present valuation over the previous valuation, then furnish the specific reasons, basis of the increase in value and the details of variation

N.A.

Whether the building is insured – if so:

- For what value

Owner has to Furnished Details

- Against what risks

Owner has to Furnished Details

- Date of expiry of the insurance

Owner has to Furnished Details

In case the Bank were to sell the property what would be approximate realizable value

85 to 90% as per Valuation

Sources of information for arriving at the realizable value

By Inquiry

VALUATION OF LAND AND BUILDING

LAND

1. Area of Land 6900.00 Sq. Mtr

2. Shape: Rectangular piece of land

3. The plot has frontage of the Bayad – Dahegam Highway Road

4. The land was used for Godown purpose at time of valuation

5. The tenure is freehold

6. The plot of land is located at Village Sampa and its value is derived from local enquiries made by me in surrounding area

7. All kinds of infrastructural need like Transporters, Bus Depots, Commercial Complexes, Hotels, Banks, Small Scale Units Laborers Point, etc are easily available from Dahegam City which is at 5 Kms away from property under valuation.

8. As per situation of land, size of land, shape of land, conditions prevailing and taking into consideration facts mentioned above, value of land at Rs. 3000.00 Sq. Mtr is considered being fair and reasonable.

Area of Land	6900.00 Sq. Mtr.
Value of Land	6900.00 Sq. Mtr. X 3000.00 per Sq. Mtr.
	Rs. 20.700 Millions (A)

BUILDING

1. Name of Building

Operator Room

It is constructed of 0.23 m. thick brick masonry wall structure type construction. Roofing is of G.l. Sheets. Roofing is supported over M.S. Trusses, Purlins. The Flooring is of lPS. M.S. Doors and M.S. Grill Windows are provided. Electrification is of Open type.

Built-up area in Sq.mt.

41.40 Sq. Mtr.

2. Name of Building

Open Parking Shed

It is constructed of 0.23 m. thick brick masonry wall structure type construction. Roofing is of A.C. Sheets. Roofing is supported over M.S. Trusses, Purlins & griders.

Built-up area in Sq.mt.

11.32 Sq. Mtr.

3. Name of Building

Office

It is constructed of 0.23 m. thick brick masonry wall structure type construction. The Roofing is of RCC Slab. The Flooring is done with Vitrified tiles. Wooden Doors and Windows are provided and painted with oil paint. lnside has smooth plaster and outside sand face plaster with Color wash. Electrification is of Concealed type.

Built-up area in Sq.mt.

33.75 Sq. Mtr.

4. Name of Building

Plant Room Store

It is constructed of M.S. Frame Structure type construcilon with 0.23 m. thick brick masonry wall structure. The Roofing is of G.l. Sheets. The Flooring is of lPS. M.S. Doors and Windows are provided and painted with oil paint. lnside has smooth plaster and outside sand face plaster with Color wash. Electrification is of Open type. Height of the Roof is 14 Feet From Ground Level.

Built-up area in Sq.mt.

135.94 Sq. Mtr.

5. Name of Building

Servant Room

4 Nos Servant Rooms are provided. lt is constructed of 0.23 m, thick brick masonry wall structure type construction. Rooftng is of A.C. Sheets. Roofing is supported over M.S. Trusses, Purlins . The Flooring is of lPS. lnside has smooth plaster. Wooden Doors and Frame Windows are provided with oil paint. Electrification is of Open type.

Built-up area in Sq.mt.

80.64 Sq. Mtr.

6. Name of Building

Old Cold Storage

The owner has constructed the cold storage The 3-nos of chambers has storage racks for Puf Paner’s racks done with, is constructed with a grid of RCC columns and surrounding masonry walls with floor height about 48 Feet. The Roofing is of RCC Slab with POP False Ceiling. Undemeath high quality thermal insulation has been provided to floor, walls and the ceiling as per the required thickness and having plaster, protection over it. The outer walls are plastered. Height of the Roof is 50 to 55 Feet from Ground level.

Built-up area in Sq.mt.

827.35 Sq. Mtr.

7. Name of Building

Open Shed

It is constructed of 0.23 m. thin brick masonry wall structure type construction. Roofing is of A.C. Sheets. Roofing is supported over M.S. Trusses, Purlins and Griders.

Built-up area in Sq.mt.

538.20 Sq. Mtr.

PRESENT MARKET VALUE BUILDING

Operator Room (G.I. Sheets)	4140 Sq. Mtr. @ Rs. 3500.00 per Sq. Mtr.	0.145
Open Parking Shed: G.I. Sheets	11.32 Sq. Mtr. @ Rs. 2500.00 per Sq. Mtr.	0.028
Office (RCC)	33.75 Sq. Mtr. @ Rs. 6000.00 per Sq. Mtr.	0.203
Plant Room (Store) G.I. Sheets	135.94 Sq. Mtr. @ Rs. 3500.00 per Sq. Mtr.	0.476
Servant Rooms G.I. & A.C. Sheets	80.64 Sq. Mtr @ 3500.00 per Sq. Mtr.	0.282
Open Shed G.I. Sheets	827.35 Sq. Mtr. 8500.00 per Sq. Mtr.	7.032
Open Shed G.I. Sheets	538.20 Sq. Mtr. @ Rs. 2500.00 per Sq. Mtr.	1.346
Compound Wall	L.S	0.250
Private Bore Wall	L.S	0.050
Total Valuation of Building		9.812 (B)
Total Valuation of Land and Building (A+B) is Rs.		30.512
Total Valuation of Land and Building Say Rs.		30.512

DIFFERENT VALUE OF THE PROPERTY

1. Present Market Value	30.512
2. Realizable Value	28.224
3. Distress Sale Value	25.935
4. The value of Land and Building as per Stamp duty Department (Exclusively meant for stamp duty purpose) Basis of Valuation as per Mumbai Stamp Duty Act 1958 Section 32/C, (Does not represent the market value)

Land Value

6900.00 Smt@ Rs. 413.00 per Sq. Mtr.

2.849 (A)

Jantri is not Treaceable of Same R.S. No.: So they have taken nearby R.S. No.: 110

Building Value

9.812 (B)

Total Jantri Value of the Property is (a+b) is

Rs. 12.661 Millions

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INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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FIXED ASSETS

· Land

· Factory and Building

· Plant and Machinery

· Electric Installation

· Weighing Scale

· Furniture and Fixtures

· Steel Racks

· Scooter

· Computer

· Mobile Phone

· Motor Car – City

· Motor Car – Elantra

· Motor Car – Honda Civic

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. 61.85
UK Pound	1	Rs. 96.73
Euro	1	Rs. 76.53

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUM
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.