MIRA INFORM REPORT

Report Date :

23.12.2014

IDENTIFICATION DETAILS

Name :	HALDIRAM FOODS INTERNATIONAL PRIVATE LIMITED (w.e.f. 01.02.2012)
Formerly Known As :	HALDIRAM FOODS INTERNATIONAL LIMITED
Registered Office :	A 204, Shyam Kamal Agrawal Market, Tejpal Road, Vile Parle (East), Mumbai – 400057, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.12.1987
Com. Reg. No.:	11-045509
Capital Investment / Paid-up Capital :	Rs.117.980 Millions
CIN No.: [Company Identification No.]	U15100MH1987PTC045509
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	NGPH02489E
PAN No.: [Permanent Account No.]	AAACH3628L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Sweets, Namkeens and Snacks Items.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (66)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established and reputed company having fine track record. It is engaged in the manufacturing and sale of sweets/namkeens and extruded snack items. The rating reflects established position of HFIPL in the sweets/namkeens business supported by strong brand equity and recognition of ‘Haldiram’ brand in the packaged food industry and its entrenched distribution network across western and southern India. Rating also takes into consideration healthy financial base and decent liquidity profile of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. In view of established market position, the company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – 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

Rating Agency Name	ICRA
Rating	Fund Based Limits = AA-
Rating Explanation	High degree of safety and very low credit risk
Date	November 2013

Rating Agency Name	ICRA
Rating	Non Fund Based Limits = A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk
Date	November 2013

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	Mr. Kailash Bansal
Designation :	Finance Manager
Contact No.:	91-712-2681091
Date :	22.12.2014

LOCATIONS

Registered Office / Branch Office 1 :	A 204, Shyam Kamal, Agrawal Market, Tejpal Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India
Tel. No.:	91-22-26130771 / 26170762
Fax No.:	91-22-26145116
E-Mail :	haldiram@bom2.vsnl.net.in csngp@rediffmail.com systems@haldirams.com kailash.bansal@haldirams.com
Website :	http://haldirams.com
Location :	Owned
Head Office / Factory :	'Haldiram House', Plot No. 145/146, Old Pardi Naka,, Bhandara Road, Nagpur – 440008, Maharashtra, India
Tel. No.:	91-712 2681191 / 2681091 / 2681192 / 03 / 04
Fax No.:	91-712-2680218
Area :	5000 Sq. Ft.
Location :	Owned
Branch Office 2 :	A 204, Tejpal Road Shyam Kamal, Agrawal CHS Limited, West Wing, Vile Parle (East), Mumbai - 400057, Maharashtra, India
Tel. No.:	91-22-26130771 / 26170762
Fax No.:	91-22-26145116
Branch Office 3 :	#1213, 100 Feet Road, Hall II Stage, Indranagaram, Bangalore – 560008, Karnataka, India
Tel. No.:	91-80-41154467
Branch Office 4 :	Number 1/2, Peeran Streets, Saligram, Near AVM Studio, Opposite Sooriya Hospital, Chennai – 600093, Tamilnadu, India
Tel. No.:	91-44-31062867

DIRECTORS

As on 30.09.2014

Name :

Mr. Rajendrakumar Shivkishan Agrawal

Designation :

Whole Time Director

Address :

918, Deshpande Layout, Wardhman Nagar, Nagpur – 440008, Maharashtra, India

Date of Birth/Age :

22.01.1960

Qualification :

M.Com

Date of Appointment :

25.07.2010

PAN No.:

ABFPA1041

DIN No.:

00074439

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	U15100MH1987PTC045509	HALDIRAM FOODS INTERNATIONAL PRIVATE LIMITED	Whole-time director	25/07/2010	28/12/1991	-	Active	NO
2	U65190MH1995PTC089980	HALDIRAM VITTA AND VINIYOG PRIVATE LIMITED	Director	27/06/1995	27/06/1995	-	Active	NO
3	U15300MH1988PTC047437	KASANA FOODS PRIVATE LIMITED	Director	25/11/1997	25/11/1997	-	Active	NO
4	U55101MH1997PTC112061	HALDIRAM HOTELS PRIVATE LIMITED	Director	25/11/1997	25/11/1997	-	Active	NO
5	L51909WB1985PLC038407	NAMOKAR TRADE (INDIA) LIMITED	Director	20/12/2000	20/12/2000	01/06/2007	Active	NO
6	U45202MH2001PTC132162	AVIN DEVELOPERS PRIVATE LIMITED	Director	30/05/2001	30/05/2001	-	Amalgamated	NO
7	U51101KA2001PTC029935	HALDIRAM SAVOURIES AND SWEETS PRIVATE LIMITED	Director	27/12/2001	27/12/2001	-	Active	NO
8	U15110MH2002PTC134588	NAGPUR SWEETS PRIVATE LIMITED	Director	16/01/2002	16/01/2002	-	Strike off	NO
9	U45201MH2002PTC134590	PREMRAJ REAL-ESTATE PRIVATE LIMITED	Director	16/01/2002	16/01/2002	-	Amalgamated	NO
10	U15209TN2002PTC048627	HALDIRAM DAIRY PRODUCTS PRIVATE LIMITED	Director	18/03/2002	18/03/2002	-	Active	NO
11	U15499TG2002PTC038721	HALDIRAM'S VYANJAN PRIVATE LIMITED	Director	01/04/2002	01/04/2002	-	Active	NO
12	U51229KA2003PTC031553	KUNAL SNACKS PRIVATE LIMITED	Director	06/02/2003	06/02/2003	-	Active	NO
13	U51909WB1996PTC078913	POPULAR SUPPLIERS PRIVATE LIMITED	Director	01/11/2010	27/10/2003	-	Active	NO
14	U15130MH2003PTC143783	ABHINANDAN SNACKS PRIVATE LIMITED	Director	31/12/2003	31/12/2003	-	Active	NO
15	U15130MH2004PTC146483	MOPLEEZ SNACKS PRIVATE LIMITED	Director	21/05/2004	21/05/2004	-	Active	NO
16	U45200MH2006PTC159253	JAGDAMBA TOWNSHIP PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
17	U45201MH2006PLC165768	CHHINDWARA PLUS DEVELOPERS LIMITED	Director	24/11/2006	24/11/2006	-	Active	NO
18	U15134MH2002PTC134667	CENTRAL FOOD PRODUCTS (NAGPUR) PRIVATE LIMITED	Director	30/04/2007	30/04/2007	-	Active	NO
19	U15410MH1995PTC089185	NIRAJ DISTRIBUTIONS PRIVATE LIMITED	Director	01/12/2007	01/12/2007	-	Active	NO
20	U01100MH1997PTC112060	HALDIRAM KRISHI UDYOG PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
21	U70102MH2008PTC181479	KARRIA DEVELOPERS & INFRASTRUCTURE PRIVATE LIMITED	Director	23/04/2008	23/04/2008	-	Active	NO
22	U15400MH1995PTC089186	HALDIRAM'S SWEET (INDIA) PRIVATE LIMITED	Director	25/09/2009	25/09/2009	-	Amalgamated	NO

Name :

Mr. Sushilkumar Shivkishan Agrawal

Designation :

Director

Address :

918, Deshpande Layout, Wardhman Nagar, Nagpur – 440008, Maharashtra, India

Date of Birth/Age :

18.05.1967

Qualification :

MBA

Date of Appointment :

01.12.2007

PAN No.:

ABFPA1045F

DIN No.:

00074470

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	U55100MH1988PTC046407	HALDIRAM HOTELS PRIVATE LIMITED	Director	03/03/1988	03/03/1988	-	Amalgamated	NO
2	U15100MH1993PTC073717	ABHINAV FOOD PRODUCTS PRIVATE LIMITED	Director	01/09/1993	01/09/1993	-	Amalgamated	NO
3	U15100MH1994PTC089284	SIMPLE FOOD PRODUCTS PRIVATE LIMITED	Director	07/06/1995	07/06/1995	-	Amalgamated	NO
4	U65190MH1995PTC089980	HALDIRAM VITTA AND VINIYOG PRIVATE LIMITED	Director	10/02/1998	10/02/1998	-	Active	NO
5	U72200MH2000PTC128497	HALDIRAM'S INFO-TECH SOLUTIONS PRIVATE LIMITED	Director	29/08/2000	29/08/2000	-	Strike off	NO
6	U15110MH2002PTC134587	SUSANGEET FOODS PRIVATE LIMITED	Director	16/01/2002	16/01/2002	-	Strike off	NO
7	U15110MH2002PTC134591	CHERRY SWEETS PRIVATE LIMITED	Director	16/01/2002	16/01/2002	-	Strike off	NO
8	U45201MH2002PTC134589	RSA DEVELOPERS PRIVATE LIMITED	Director	16/01/2002	16/01/2002	-	Amalgamated	NO
9	U15499TG2002PTC038721	HALDIRAM'S VYANJAN PRIVATE LIMITED	Director	01/04/2002	01/04/2002	-	Active	NO
10	U55101MH2003PTC139590	CHERRY HOTELS PRIVATE LIMITED	Director	13/03/2003	13/03/2003	-	Active	NO
11	U51909WB1996PTC078913	POPULAR SUPPLIERS PRIVATE LIMITED	Director	12/10/2003	12/10/2003	-	Active	NO
12	U45200MH2006PTC159253	JAGDAMBA TOWNSHIP PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
13	U15134MH2002PTC134667	CENTRAL FOOD PRODUCTS (NAGPUR) PRIVATE LIMITED	Director	30/04/2007	30/04/2007	-	Active	NO
14	U15100MH1987PTC045509	HALDIRAM FOODS INTERNATIONAL Private Limited	Director	01/12/2007	01/12/2007	-	Active	NO
15	U70102MH2008PTC181479	KARRIA DEVELOPERS & INFRASTRUCTURE PRIVATE LIMITED	Director	23/04/2008	23/04/2008	-	Active	NO
16	U40109MH2010PTC203436	HOLY  GREEN ENERGY  PRIVATE LIMITED	Director	21/05/2010	21/05/2010	-	Active	NO
17	U70109WB1981PTC033816	GOEL PROPERTIES PRIVATE LIMITED	Director	25/02/2012	25/02/2012	-	Active	NO
18	U15122MH2012PTC232754	HALDIRAM BAKERY PRODUCTS PRIVATE LIMITED	Director	29/06/2012	29/06/2012	-	Active	NO

Name :

Mr. Kamalkumar Shivkishan Agrawal

Designation :

Director

Address :

918, Deshpande Layout, Wardhman Nagar, Nagpur – 440008, Maharashtra, India

Date of Birth/Age :

05.08.1973

Qualification :

B.Com

Date of Appointment :

01.12.2007

PAN No.:

ABFPA1043D

DIN No.:

00015010

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	U15100MH1993PLC074269	NIRAJ SNACKS LIMITED	Director	30/09/1993	30/09/1993	-	Amalgamated	NO
2	U15100MH1998PTC113490	KASANA FOODS PRIVATE LIMITED	Director	15/12/1998	15/12/1998	-	Amalgamated	NO
3	U72200MH2000PTC128497	HALDIRAM'S INFO-TECH SOLUTIONS PRIVATE LIMITED	Director	29/08/2000	29/08/2000	-	Strike off	NO
4	U15110MH2002PTC134592	VIVEK FOODS PRIVATE LIMITED	Director	16/01/2002	16/01/2002	-	Strike off	NO
5	U45201MH2002PTC134589	RSA DEVELOPERS PRIVATE LIMITED	Director	16/01/2002	16/01/2002	-	Amalgamated	NO
6	U55101MH2003PTC139590	CHERRY HOTELS PRIVATE LIMITED	Director	13/03/2003	13/03/2003	-	Active	NO
7	U52110MH2004PTC148624	DAY2DAY SUPERMARKET PRIVATE LIMITED	Director	27/03/2005	27/03/2005	-	Active	NO
8	U45200MP2007PTC019512	KORN INFRASTRUCTURE PRIVATE LIMITED	Director	09/05/2007	09/05/2007	-	Strike off	NO
9	U45201MH2006PLC165768	CHHINDWARA PLUS DEVELOPERS LIMITED	Director	20/09/2007	20/09/2007	-	Active	NO
10	U15100MH1987PTC045509	HALDIRAM FOODS INTERNATIONAL Private Limited	Director	01/12/2007	01/12/2007	-	Active	NO
11	U92190MH2008PTC183469	HALDIRAM MINI INDIA THEME PARK PRIVATE LIMITED	Director	12/06/2008	12/06/2008	-	Active	NO
12	U51229KA2003PTC031553	KUNAL SNACKS PRIVATE LIMITED	Director	01/09/2008	01/09/2008	-	Active	NO
13	U51101KA2001PTC029935	HALDIRAM SAVOURIES AND SWEETS PRIVATE LIMITED	Director	01/09/2008	01/09/2008	-	Active	NO
14	U55101MH1997PTC112061	HALDIRAM HOTELS PRIVATE LIMITED	Director	31/03/2010	31/03/2010	-	Active	NO
15	U40109MH2010PTC203436	HOLY  GREEN ENERGY  PRIVATE LIMITED	Director	21/05/2010	21/05/2010	-	Active	NO
16	U15400MH2006PTC158590	OAM INDUSTRIES (INDIA) PRIVATE LIMITED	Director	05/06/2011	05/06/2011	-	Active	NO
17	U15130MH2003PTC143783	ABHINANDAN SNACKS PRIVATE LIMITED	Director	01/05/2012	01/05/2012	-	Active	NO
18	U15122MH2012PTC232754	HALDIRAM BAKERY PRODUCTS PRIVATE LIMITED	Director	29/06/2012	29/06/2012	-	Active	NO
19	U15122MH2012PTC235241	MAPLES GREAT DAY FOODS PRIVATE LIMITED	Director	03/09/2012	03/09/2012	-	Active	NO
20	U55101CT2008PTC020540	RMV RESORT AND HOTELS PRIVATE LIMITED	Director	29/09/2014	25/04/2014	-	Active	NO

Name :

Mr. Srinivasrao Sambhashivrao Vinnokata

Designation :

Director

Address :

379 Subhan Nagar, Opposite H. B. Town Nagpur – 440008, Maharashtra, India

Date of Birth/Age :

24.08.1965

Qualification :

M.Com

Date of Appointment :

01.04.2011

DIN No.:

01257848

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	U15100MH1993PLC074269	NIRAJ SNACKS LIMITED	Director	01/04/2004	01/04/2004	-	Amalgamated	NO
2	U15100MH1987PTC045509	HALDIRAM FOODS INTERNATIONAL Private Limited	Director	01/04/2011	01/04/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Kailash Bansal
Designation :	Finance Manager

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Rajendra Agrawal	1160891
Kamal Agrawal	1128900
Sushil Agrawal	1126116
Jamnadevi Agrawal	534108
Premlata Agrawal	517400
Sangeeta Agrawal	579038
Reena Agrawal	1087218
Neeraj Agrawal	245009
Avin Agrawal	290350
Vivek Agrawal	374140
Vanshita Agrawal	101500
Anshita Agrawal	94800
Shivkishan Moolchand Agrawal (HUF)	32900
Rajendra Kumar Shivkishan Agrawal (HUF)	333500
Sushilkumar Shivkishan Agrawal (HUF)	7250
Kamalkumar Shivkishan Agrawal (HUF)	313592
Shivkishan Agrawal	8408
Karishma Agrawal	51837
Navya Agrawal	134320
Haldiram Vitta and Viniyog Private Limited, India	1916000
Popular Suppliers Private Limited, India	1111290
Kasana Foods Private Limited (Mohanlal)	31460
Kunal Snacks Private Limited, India	447580
Goel Properties Private Limited, India	42000
Surabh Agrawal	7250
Sagarmal Jugalkishoar Agrawal	7250
Sunderlal Surana	7250
Sarojdevi Agrawal	4750
Mithlesh Agrawal	7250
Rajendra Baid	7250
Divyesh Thakkar	7250
Bharat Thakkar	7250
Mamta Agrawal	8700
Dinesbhai Patel	7250
Manidevi Bhararia	4750
Deepak Maheshwari	8700
Ila Vanjani	7250
Laxmandas Gyanani	7250
Niraj Agrawal	29000
Total	11798007

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	30.08
Directors or relatives of Directors	68.84
Other top fifty shareholders	1.08
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Sweets, Namkeens and Snacks Items.

Products :

Product Description	Item Code No. (ITC Code)
M I S Preparations	19059090

Brand Names :

• “Mopleez”
• “Haldiram”

Agencies Held :

--

Exports :

Products :

Sweets, Namkeens and Snacks Items

Countries :

• USA
• Gulf Countries

Imports :

Products :

Machinery

Countries :

• Belgium
• Germany

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Uflex Limited
Name of the Person :	Mr. Harish Gupta (Accountant)
Contact No.:	91-120-6100000
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	He will reply by mail, Mail sent on hkg@uflexindustriesltd.com

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

No. of Employees :

1000 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Hingna Branch, Nagpur, Maharashtra, India
Person Name (With Designation)	Mr. Nikhil Ramteke
Contact Number	91-9766917966
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	He will reply by mail, Mail sent on nikhil.ramteke@sbi.co.in

HDFC Bank, Shankar Nagar, Nagpur, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Working capital loans from banks	62.287	115.003
SHORT TERM BORROWINGS
Working capital loans from banks	470.239	744.401
Total	532.526	859.404

Banking Relations :	--
Auditors :
Name :	Agrawal Chhallani and Company Chartered Accountants
Address :	51, New Colony, Nagpur – 440 001, Maharashtra, India
Tel. No.:	91-712-2544250 / 2544253
PAN No.:	AASPC0224A
Memberships :	--
Collaborators :	--
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
13000000	Equity Shares	Rs.10/- each	Rs.130.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11798007	Equity Shares	Rs.10/- each	Rs.117.980 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	117.980	124.059	124.059
(b) Reserves & Surplus	4,543.278	3,900.116	3,050.972
(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)	4,661.258	4,024.175	3,175.031
(3) Non-Current Liabilities
(a) long-term borrowings	62.286	115.003	0.000
(b) Deferred tax liabilities (Net)	280.488	240.821	174.282
(c) Other long term liabilities	78.545	59.191	59.991
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	421.319	415.015	234.273
(4) Current Liabilities
(a) Short term borrowings	500.496	770.918	279.806
(b) Trade payables	681.887	422.211	465.434
(c) Other current liabilities	271.728	248.257	176.634
(d) Short-term provisions	15.513	0.000	0.000
Total Current Liabilities (4)	1,469.624	1,441.386	921.874
TOTAL	6,552.201	5,880.576	4,331.178
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2,850.367	2,266.920	1,758.779
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	394.334	598.082	606.048
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	183.329	175.389	28.852
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	41.078	65.067	61.951
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3,469.108	3,105.458	2,455.630
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	765.832	1,029.828	379.705
(c) Trade receivables	326.420	304.656	238.182
(d) Cash and cash equivalents	905.096	838.843	811.179
(e) Short-term loans and advances	1,085.745	601.791	446.482
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	3,083.093	2,775.118	1,875.548
TOTAL	6,552.201	5,880.576	4,331.178

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		12,245.225	10,118.935	8653.618
		Other Income		NA	NA	NA
		TOTAL (A)		NA	NA	NA
	EXPENSES
		TOTAL (B)		NA	NA	NA
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			1,346.474	1,299.707	1,089.915
Less	FINANCIAL EXPENSES (D)			23.259	15.999	14.24
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			1,323.215	1,283.708	1,075.675
Less	DEPRECIATION/ AMORTISATION (F)			131.133	103.583	75.372
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			1,192.082	1,180.125	1,000.303
Less	TAX (H)			370.055	356.028	323.117
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			822.027	824.097	677.186
	IMPORTS
			Raw Materials	NA	NA	12.277
			Stores & Spares	NA	NA	7.301
			Capital Goods	NA	NA	173.128
	TOTAL IMPORTS			NA	NA	192.706
	Earnings / (Loss) Per Share (Rs.)			69.67	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	6.71	8.14	7.83
Operating Profit Margin (PBIDT/Sales)	(%)	11.00	12.84	12.59
Return on Total Assets (PBT/Total Assets}	(%)	19.95	23.11	27.06
Return on Investment (ROI) (PBT/Networth)		0.26	0.29	0.32
Debt Equity Ratio (Total Debt /Networth)		0.12	0.22	0.09
Current Ratio (Current Asset/Current Liability)		2.10	1.93	2.03

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	124.059	124.059	117.980
Reserves & Surplus	3050.972	3900.116	4543.278
Share Application money pending allotment	0.000	0.000	0.000
Net worth	3175.031	4024.175	4661.258
Long Term borrowings	0.000	115.003	62.286
Short Term borrowings	279.806	770.918	500.496
Total borrowings	279.806	885.921	562.782
Debt/Equity ratio	0.088	0.220	0.121

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	8,653.618	10,118.935	12,245.225
		16.933	21.013

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	8,653.618	10,118.935	12,245.225
Profit	677.186	824.097	822.027
	7.83%	8.14%	6.71%

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
SHORT TERM BORROWINGS
Loans and advances from related parties	30.256	26.517
Total	30.256	26.517

OPERATIONS

The various products of the company are well accepted by the market and the company has earned a good name in the Food Processing Industry. The Company Launch New Brand Name “Mopleez” in market for packed Sweets and Nameens. The sweets and namkeen products of the Company virtually enjoy a monopoly market. This year company achieved export sales of Rs.776.375 Millions compared previous year Rs.612.606 Millions. The company has always focused on enhancing its competitive edges in cost leadership brand strengths, wide distribution network and innovative product development to expand its market in India and aboard.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10412967	27/09/2013 *	260,000,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B88705629
2	90229859	28/03/2014 *	230,000,000.00	State Bank Of India	State Bank Of India, Bharat Nagar, Amravati Road, Nagpur, Maharashtra - 440010, India	C02766277
3	90232464	01/02/1990	3,000,000.00	Maharashtra State Financial Corporation	New Excelsior Bldg; 5; 7; 8 and 9th Fls, A.K. Nayak Marg, Mumbai, Maharashtra, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.63.18
UK Pound	1	Rs.98.85
Euro	1	Rs.77.42

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	DIV
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		66

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.