MIRA INFORM REPORT

Report Date :

20.12.2014

IDENTIFICATION DETAILS

Name :	SAVARIA ROLLER FLOUR MILLS PRIVATE LIMITED

Registered Office :	82/8-Jgandhi Gram, Kanpur- 208007, Uttar Pradesh

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	26.02.2004

Com. Reg. No.:	20-028338

Capital Investment / Paid-up Capital :	Rs. 18.552 Millions

CIN No.: [Company Identification No.]	U15311UP2004PTC028338

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company.

Line of Business :	Subject is engaged in the business of Flour Mill and Trading of Pulses and Wheat Etc.

No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 100000

Status :	Moderate

Payment Behaviour :	Slow But Correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track. Management has filed “Form 66”, depicting compliance certificate for financial year 2014, whereas failed to file any other financial documents with the statuary authorities. As per available, the company reports high leverage partially owing to working capital requirements during financial year 2013. However, trade relations seem to be fair. Business is active. Payment terms are reported as 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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

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

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Ram Kishan Agarwal
Designation :	Director
Contact No.:	91-9794352885
Date :	17.12.2014

Name :	Mr. Shri Kishan Agarwal
Designation :	Director
Contact No.:	91-9794352882
Date :	17.12.2014

LOCATIONS

Registered Office :	82/8-Jgandhi Gram, Kanpur, Uttar Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9794352885 (Mr. Ram Kishan Agarwal) 91-9794352882 (Mr. Shri Kishan Agarwal)
Fax No.:	Not Available
E-Mail :	srfmbbk@gmail.com
Website :	http://www.savariagroup.com

Plant/ Factory :	H-55,56,57,58, UPSIDC, Industrial Area, Agro Park-2, Lucknow-Kursi Road, Barabanki-225302, Uttar Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	www.savariagroup.com

DIRECTORS

As On 30.09.2013

Name :

Ram Kishan Agarwal

Designation :

Director

Address :

82/87, Gandhigram, Kanpur - 208007, Uttar Pradesh, India

Date of Appointment :

26.02.2004

DIN No.:

26.02.2004

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	U15311UP2004PTC028338	SAVARIA ROLLER FLOUR MILLS PRIVATE LIMITED	Director	26/02/2004	26/02/2004	-	Active	NO
2	U15311UP2007PTC059951	RATNAGARBHA AGRO PRIVATE LIMITED	Director	30/09/2009	30/09/2009	-	Active	NO
3	U51909WB2009PTC137651	GURUKUL TRADECOM PRIVATE LIMITED	Director	10/11/2011	10/11/2011	01/02/2012	Active	NO
4	U51909WB2009PTC132812	MAHASHAKTI VINCOM PRIVATE LIMITED	Additional director	09/02/2012	09/02/2012	14/10/2013	Active	NO
5	U51909WB2010PTC155709	SOLTY SUPPLIERS PRIVATE LIMITED	Director	31/08/2012	31/08/2012	09/12/2013	Active	NO
6	U70102UP2014PTC064985	RAJESTHAN INFRAZONE PRIVATE LIMITED	Director	18/07/2014	18/07/2014	-	Active	NO

Name :

Shri Kishan Agarwal

Designation :

Director

Address :

82/8 J, Gandhigram. Kanpur , Uttar Pradesh, India

Date of Appointment :

26.02.2004

DIN No.:

00482259

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	U15311UP2004PTC028338	SAVARIA ROLLER FLOUR MILLS PRIVATE LIMITED	Director	26/02/2004	26/02/2004	-	Active	NO
2	U15311UP2007PTC059951	RATNAGARBHA AGRO PRIVATE LIMITED	Director	30/09/2009	30/09/2009	-	Active	NO
3	U51909WB2009PTC137651	GURUKUL TRADECOM PRIVATE LIMITED	Director	10/11/2011	10/11/2011	01/02/2012	Active	NO
4	U51909WB2009PTC132812	MAHASHAKTI VINCOM PRIVATE LIMITED	Additional director	09/02/2012	09/02/2012	14/10/2013	Active	NO
5	U51909WB2010PTC155709	SOLTY SUPPLIERS PRIVATE LIMITED	Director	31/08/2012	31/08/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Mr. Ram Kishan Agarwal	192500	10.38
Mr. Shri Kishan Agarwal	192740	10.39
Mr. Manish Agarwal	60000	3.23
Mrs. Gomti Agarwal	60000	3.23
Ratnagarbha Agro Private Limited, India	350000	18.87
Solty Suppliers Private Limited, India	1000000	53.90

Total	1855240	100.00

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	72.76
Directors or relatives of Directors	27.24
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of Flour Mill and Trading of Pulses and Wheat Etc.

Products :	Wheat Flour (Maida) Semolina (Rawa) Tandoori Atta Bran

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Not Available

Purchasing :	Not Available

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Information declined by the management.

Bankers :

Punjab National Bank, Krishna Nagar Branch, Kanpur – 208007, Uttar Pradesh, India

Facilities :

SECURED LOANS

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

LONG TERM BORROWINGS

Term Loan Borrowing From Bank Secured

Punjab National Bank

Punjab National Bank Car Loan

4.881

0.183

9.279

0.389

Term Loan Borrowing From Other Parties Secured

Chola Mandalam Investment and Finance Company Limited

0.429

1.248

SHORT TERM BORROWINGS

Loans repayable on demand

Punjab National Bank Cash Credit

119.789

207.541

Total

125.282

218.457


Auditors :
Name :	Anil Bhagat and Associates Chartered Accountant
Address :	Shop No. 15, Old Nirala Market I T Crossing, Lucknow – 226020, Uttar Pradesh, India
PAN No.:	AAGFA8489D

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As On 30.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3,500,000	Equity Shares	Rs. 10/- each	Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,855,240	Equity Shares	Rs. 10/- each	Rs. 18.552 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	18.552	14.802	7.302
(b) Reserves & Surplus	39.841	26.663	2.078
(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)	58.393	41.465	9.380

(3) Non-Current Liabilities
(a) long-term borrowings	45.637	10.916	9.702
(b) Deferred tax liabilities (Net)	0.118	0.064	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.296	0.296	0.127
Total Non-current Liabilities (3)	46.051	11.276	9.829

(4) Current Liabilities
(a) Short term borrowings	119.789	207.541	159.810
(b) Trade payables	6.988	1.952	3.460
(c) Other current liabilities	3.116	2.894	8.208
(d) Short-term provisions	0.612	0.309	0.000
Total Current Liabilities (4)	130.505	212.696	171.478

TOTAL	234.949	265.437	190.687

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	27.695	30.815	37.643
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.588
(d) Long-term Loan and Advances	1.777	1.953	1.417
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	29.472	32.768	39.648

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	101.579	100.409	130.325
(c) Trade receivables	103.259	125.522	19.185
(d) Cash and cash equivalents	0.548	3.944	0.837
(e) Short-term loans and advances	0.091	2.794	0.692
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	205.477	232.669	151.039

TOTAL	234.949	265.437	190.687

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	TURNOVER
		TOTAL	NA	774.302	NA

Less	EXPENSES
		TOTAL	NA	NA	NA

	PROFIT/ (LOSS) BEFORE TAX		NA	NA	NA

Less	TAX		NA	NA	NA

	PROFIT/ (LOSS) AFTER TAX		1.928	2.084	3.246

	Earnings / (Loss) Per Share (Rs.)		1.04	1.12	1.75

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011

Debt Equity Ratio (Total Liability/Networth)	2.83	5.27	18.07

Current Ratio (Current Asset/Current Liability)	1.57	1.09	0.88

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	7.302	14.802	18.552
Reserves & Surplus	2.078	26.663	39.841
Net worth	9.380	41.465	58.393

long-term borrowings	9.702	10.916	45.637
Short term borrowings	159.810	207.541	119.789
Total borrowings	169.512	218.457	165.426
Debt/Equity ratio	18.072	5.268	2.833

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	------------
22]	Litigations that the firm / promoter involved in	-----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-------------
26]	Buyer visit details	-------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	No
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10484848	24/02/2014	5,000,000.00	PUNJAB NATIONAL BANK	Krishna Nagar Branch, Kanpur, Uttar Pradesh - 208007, INDIA	C00496174
2	10430871	23/01/2013	120,000,000.00	Bank of Baroda	IBB, 17/14 THE MALL, KANPUR, Uttar Pradesh - 208001, INDIA	B72957251
3	10381948	31/08/2012	30,000,000.00	PUNJAB NATIONAL BANK	Krishna Nagar Branch, Kanpur, Uttar Pradesh - 208007, INDIA	B60245966
4	10300871	22/06/2011	500,000.00	PUNJAB NATIONAL BANK	RETAIL ASSET BRANCH,, MALL ROAD, KANPUR, Uttar Pradesh - 208001, INDIA	B18302828
5	10014756	24/02/2014 *	155,000,000.00	PUNJAB NATIONAL BANK	Krishna Nagar Branch, Kanpur, Uttar Pradesh - 208007, INDIA	C00495424
6	10014815	22/07/2006	23,500,000.00	PUNJAB NATIONAL BANK	PANDU NAGAR, KANPUR, Uttar Pradesh - 208005, INDIA	A03086014

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Other loan and advances (form other parties) : Gomti Agarwal Manisha Agarwal Ratnagarbha Agro Private Limited Solty Suppliers Private Limited	0.275 0.275 35.594 4.000	0.000 0.000 0.000 0.000
Total	40.144	0.000

FIXED ASSETS

Land Lease Hold
Buildings
Plant and Equipment
Furniture and Fixture
Vehicles
Office Equipment
Computer

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records 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 records 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. 63.07
UK Pound	1	Rs. 98.73
Euro	1	Rs. 77.46

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	SUB

Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.

MIRA INFORM REPORT

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