MIRA INFORM REPORT

Report Date :

10.02.2014

IDENTIFICATION DETAILS

Name :	GEMINI EDIBLES AND FATS INDIA PRIVATE LIMITED
Registered Office :	“Freedom House”, 8-2-334/70 and 71, Opposite SBI Executive Enclave, Road No. 5, Banjara Hills, Hyderabad – 500034, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	17.04.2008
Com. Reg. No.:	01-058708
Capital Investment / Paid-up Capital :	Rs. 75.000 Millions
CIN No.: [Company Identification No.]	U15205AP2008PTC058708
TAN No.: [Tax Deduction & Collection Account No.]	HYDG09219A
PAN No.: [Permanent Account No.]	AADCG5150F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Edible Oils and Fats.
No. of Employees :	350 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 3195000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. External borrowing of the company is huge. Profitability of the company appears to be low. However, trade relations are fair. Business is active. Payment terms are 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

The worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14.  Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey.  Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year.  The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors.  According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term Bank facilities - Term Loan : BBB- (SO)
Rating Explanation	Moderate credit quality and average credit risk.
Date	November 07, 2013

Rating Agency Name	CARE
Rating	Short term Bank facilities : A3 (SO)
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	November 07, 2013

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Rajesh Agarwal
Designation :	Finance Head
Contact No.:	91-40-67357868
Date :	10.02.2014

LOCATIONS

Registered/ Corporate Office :	“Freedom House”, 8-2-334/70 and 71, Opposite SBI Executive Enclave, Road No. 5, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India
Tel. No.:	91-40-67357857/ 67357833/ 67357868
Fax No.:	91-40-23550522/ 67357878
E-Mail :	contactus@gefindia.net priya@gefindia.net vivek@gefindia.net
Website :	http://www.gefindia.com
Location :	Rented
Factory 1 :	Krishnapatnam, District Nellore, Andhra Pradesh, India
Location :	Owned
Factory 2 :	Kakinada, Andhra Pradesh, India
Location :	Owned

DIRECTORS

AS ON 24.06.2013

Name :

Mr. Sajeve Deora

Designation :

Director

Address :

EC-13, Inderpuri, New Delhi – 110012, India

Date of Birth/Age :

27.12.1959

Date of Appointment :

22.09.2011

DIN No.:

00003305

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	U74899DL1989PTC038545	DEORA ASSOCIATES PRIVATE LIMITED	Director	21/01/2009	05/12/1989	-	Active	NO
2	L17226UP1973PLC003746	BIL CONTINENTAL LIMITED	Director	30/07/1997	30/07/1997	30/09/2013	Active	NO
3	L15142MP1973PLC001225	VIPPY INDUSTRIES LIMITED	Director	30/10/2001	30/10/2001	-	Active	NO
4	L72112MP1974PLC001260	JYOTI OVERSEAS LIMITED	Director	06/02/2004	06/02/2004	18/07/2009	Active	NO
5	L15140MH1986PLC038536	RUCHI SOYA INDUSTRIES LIMITED	Director	27/12/2005	27/12/2005	-	Active	NO
6	L26101HP1981PLC004430	JAI MATA GLASS LIMITED	Director	30/09/2006	07/07/2006	-	Active	NO
7	L74899DL1993PLC051981	INTEGRATED CAPITAL SERVICES LIMITED	Director	13/04/2012	11/04/2008	-	Active	NO
8	U10300DL2009PTC186321	THESGORA COAL PRIVATE LIMITED	Director	02/01/2009	02/01/2009	-	Active	NO
9	U74999DL2009PTC191762	GREEN INFRA PROFILES PRIVATE LIMITED	Director	01/07/2009	01/07/2009	-	Active	NO
10	L65990MH1984PLC033878	RUCHI INFRASTRUCTURE LIMITED	Director	30/09/2010	13/11/2009	-	Active	NO
11	U74140DL2010PTC208955	GREENWAY ADVISORS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
12	U28910HP1989PLC008963	HIM TEKNOFORGE LIMITED	Director	30/09/2011	09/12/2010	07/12/2011	Active	NO
13	U15205AP2008PTC058708	GEMINI EDIBLES & FATS INDIA PRIVATE LIMITED	Director	22/09/2011	15/03/2011	-	Active	NO

Name :

Mr. Sanjeev Kumar Asthana

Designation :

Director

Address :

H. No. 363, Escape, Nirvana County, South City II, Gurgaon-122018, Haryana, India

Date of Birth/Age :

19.10.1964

Date of Appointment :

29.09.2010

DIN No.:

00048958

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	U93090MH2006PLC165172	NCDEX SPOT EXCHANGE LIMITED	Director	17/04/2008	10/02/2007	-	Active	NO
2	U51909MH2007PLC167793	RELIANCE INTEGRATED AGRI SOLUTIONS LIMITED	Director	11/08/2008	25/09/2007	22/04/2010	Amalgamated	NO
3	U51101MH2007PLC175511	RELIANCE FOOD PROCESSING SOLUTIONS LIMITED	Director	29/08/2008	06/12/2007	21/04/2010	Active	NO
4	U52100MH2007PLC175530	RELIANCE AGRI PRODUCTS DISTRIBUTION LIMITED	Director	29/08/2008	06/12/2007	22/04/2010	Amalgamated	NO
5	U01403MH2007PTC170521	RELIANCE AGRI VENTURES PRIVATE LIMITED	Director	30/09/2008	12/12/2007	22/04/2010	Active	NO
6	U74140HR2010PTC040510	IFARM VENTURE ADVISORS PRIVATE LIMITED	Director	10/05/2010	10/05/2010	-	Active	NO
7	L15140MH1986PLC038536	RUCHI SOYA INDUSTRIES LIMITED	Whole-time director	30/08/2013	28/08/2010	-	Active	NO
8	U15205AP2008PTC058708	GEMINI EDIBLES & FATS INDIA PRIVATE LIMITED	Director	29/09/2010	29/09/2010	-	Active	NO
9	U74140HR2010PTC041303	IXIA VENTURE ADVISORS PRIVATE LIMITED	Director	29/09/2010	29/09/2010	-	Active	NO
10	U74140HR2010PTC041774	IFARM EQUITY ADVISORS PRIVATE LIMITED	Director	31/12/2010	31/12/2010	-	Active	NO
11	U74999HR2011PTC043486	FRONTIER GROWTH ADVISORS PRIVATE LIMITED	Director	26/07/2011	26/07/2011	-	Active	NO
12	U01400HR2011PTC044043	TOTAL FARM SOLUTIONS PRIVATE LIMITED	Director	07/10/2011	07/10/2011	-	Active	NO
13	U93000HR2013NPL048073	AGRICULTURE SKILL COUNCIL OF INDIA	Director	04/01/2013	04/01/2013	-	Active	NO
14	U74999DL2006NPL146962	ACCESS DEVELOPMENT SERVICES	Additional director	22/03/2013	22/03/2013	-	Active	NO
15	U15499MH1996PLC100016	RUCHI WORLDWIDE LIMITED	Director	30/08/2013	09/05/2013	-	Active	NO
16	U15141MP2013PTC030932	RUCHI J-OIL PRIVATE LIMITED	Director	12/06/2013	12/06/2013	-	Active	NO

Name :

Mr. Nitesh Shahra

Designation :

Director

Address :

29, Old Palasia, A.B Road, Indore-452001, Madhya Pradesh, India

Date of Birth/Age :

10.11.1972

Date of Appointment :

29.09.2010

DIN No.:

00660362

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	U67120MH1994PTC080658	NEHA SECURITIES PRIVATE LIMITED	Director	31/08/1994	31/08/1994	Active	NO
2	U55101MH2007PTC168892	RUCHI LEISURE PRIVATE LIMITED	Director	16/03/2007	16/03/2007	Active	NO
3	U35100MH2007PTC176717	PENINSULAR TANKERS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	Active	NO
4	U63040MH2008PTC183328	MAHAKOSH TRAVELS PRIVATE LIMITED	Director	09/06/2008	09/06/2008	Active	NO
5	U40104MH2008PTC185366	RUCHI RENEWABLE ENERGY PRIVATE LIMITED	Director	02/08/2008	02/08/2008	Active	NO
6	U15205AP2008PTC058708	GEMINI EDIBLES & FATS INDIA PRIVATE LIMITED	Director	29/09/2010	09/01/2010	Active	NO
7	U51900MH1978PTC025062	APL INTERNATIONAL PRIVATE LIMITED	Director	29/09/2012	12/09/2011	Active	NO
8	U67120MH1992PTC065077	ARANDI INVESTMENTS PRIVATE LIMITED	Director	29/09/2012	12/09/2011	Active	NO
9	U99999MH1981PTC025380	MAHA KOSH PAPERS PRIVATE LIMITED	Director	29/09/2012	01/11/2011	Active	NO
10	U74992MH2011PTC224782	SAHARSH BROKERS PRIVATE LIMITED	Director	12/12/2011	12/12/2011	Active	NO

Name :

Mr. Pradeep Kumar Chowdhry

Designation :

Whole-time director

Address :

Flat No. S-5, Block-A, Stone Valley Apartments, Road No. 4, Banjara Hills, Hyderabad-500034, Andhra Pradesh, India

Date of Birth/Age :

20.08.1955

Qualification :

B.Com (Hons), C.A,C.S

Date of Appointment :

01.09.2009

PAN No.:

ACBPC7487L

DIN No.:

01154121

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	U15142GJ2002PLC066005	ACALMAR OILS AND FATS LIMITED	Director	01/02/2010	09/01/2002	01/04/2010	Amalgamated	NO
2	U67120AP2000PTC035127	LEO GLOBAL COMMODITIES PRIVATE LIMITED	Director	29/09/2003	29/09/2003	18/09/2007	Active	NO
3	U15100MH2000NPL123976	INDIAN VEGETABLE OIL PROCESSORS ASSOCIATION LIMITED	Director	25/09/2004	25/09/2004	15/06/2011	Active	NO
4	U70102AP2005PLC047728	LEO TOWNSHIP DEVELOPERS INDIA LIMITED6	Director	10/10/2005	10/10/2005	25/03/2007	Active	NO
5	U01110AP2006PTC050467	UNIVERSAL BIOFUELS PRIVATE LIMITED	Director	24/10/2006	24/10/2006	23/01/2008	Active	NO
6	U51909DL2005PTC133235	AWB INDIA PRIVATE LIMITED	Director	01/11/2006	01/11/2006	24/03/2008	Active	NO
7	U15205AP2008PTC058708	GEMINI EDIBLES & FATS INDIA PRIVATE LIMITED	Whole-time director	01/09/2009	17/04/2008	-	Active	NO
8	U15326AP2008PTC061264	AWA SPECIALTY FATS INDIA PRIVATE LIMITED	Director	01/10/2008	01/10/2008	13/09/2012	Strike off	NO
9	U74999GJ2008PTC066006	KRISHNAPATNAM OILS & FATS PRIVATE LIMITED	Director	30/09/2009	06/04/2009	08/03/2010	Active	NO
10	U52100AP2010PTC066755	LEO MERCHANDISE PRIVATE LIMITED	Director	21/01/2010	21/01/2010	-	Active	NO

Name :

Sumant Kumar Razdan

Designation :

Director

Address :

Flat No. 702, Diu-2, Building 16, Rani Tree Park, Kukatpally, Ranga Reddy-500072, Andhra Pradesh, India

Date of Birth/Age :

11.12.1954

Date of Appointment :

29.09.2010

DIN No.:

03056549

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	U15205AP2008PTC058708	GEMINI EDIBLES & FATS INDIA PRIVATE LIMITED	Director	29/09/2010	29/05/2010	Active	NO
2	U51909WB1993PTC060816	REALVALUE TRADERS PRIVATE LIMITED	Director	24/09/2012	30/08/2012	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajesh Agarwal
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 24.06.2013

Names of Shareholders	No. of Shares
Pradeep Kumar Chowdhry	1312500
Alka Chowdhry	1312500
Ruchi Soya Industries Limited, India	3750001
Investment and Commercial Enterprise Pte. Limited, Singapore	521757
Charleston Holdings Pte. Limited, Singapore	228243
Secunderabad Oils Limited, India	375000
Total	7500001

AS ON 24.06.2013

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	10.00
Bodies corporate	55.00
Directors or relatives of directors	35.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Edible Oils and Fats.

Products/ Services :

ITC Code No.	Product Descriptions
15119020	Refined Palm Olein
15162091	Vanaspathi

Imports :

Products :

Raw Material

Countries :

· Indonesia

Malaysia

Ukraine

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers

No. of Employees :

350 (Approximately)

Bankers :

· Axis Bank Limited

6-3-879/B, G Pulla Reddy Building, Green Land, Begumpet,, Hyderabad - 500016, Andhra Pradesh, India

· ICICI Bank Limited

Yes Bank Limited

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Rupee term loans from banks [The loans are secured by first paripassu charge on fixed assets of the Company and second charge on current assets of the Company.]	516.800	666.667
SHORT TERM BORROWINGS
Other external commercial borrowings	8598.011	9879.555
Loans repayable on demand from banks	679.439	59.526
Total	9794.250	10605.748

Banking Relations :	--
Auditors :
Name :	Walker Chandiok and Company Chartered Accountants
Address :	7th Floor, Block III, White House, Kundan Bagh, Begumpet, Hyderabad-500016, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AAAFW4298E
Holding Company :	Ruchi Soya Industries Limited [L15140MH1986PLC038536]
Associate :	Secunderabad Oils Limited [U16001AP1996PLC025358]
Fellow Subsidiary company :	Ruchi Worldwide Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Leo Global Commodities Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs. 10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7,500,001	Equity Shares	Rs. 10/- each	Rs. 75.000 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	75.000	71.250	71.250
(b) Reserves & Surplus	723.806	564.437	701.934
(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)	798.806	635.687	773.184
(3) Non-Current Liabilities
(a) long-term borrowings	616.800	756.667	862.109
(b) Deferred tax liabilities (Net)	27.030	0.000	63.030
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.644	0.580	0.000
Total Non-current Liabilities (3)	645.474	757.247	925.139
(4) Current Liabilities
(a) Short term borrowings	9369.635	9939.081	6106.381
(b) Trade payables	1249.217	633.713	125.617
(c) Other current liabilities	593.721	484.901	413.091
(d) Short-term provisions	1.000	0.444	0.000
Total Current Liabilities (4)	11213.573	11058.139	6645.089
TOTAL	12657.853	12451.073	8343.412
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1342.710	1338.937	1288.134
(ii) Intangible Assets	6.702	9.597	11.791
(iii) Capital work-in-progress	7.013	42.446	6.217
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.083	0.016	0.016
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	90.508	71.204	6.064
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1447.016	1462.200	1312.222
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1479.289	1771.439	1780.905
(c) Trade receivables	996.640	446.226	181.650
(d) Cash and cash equivalents	7988.232	7649.370	4772.654
(e) Short-term loans and advances	424.694	831.087	178.684
(f) Other current assets	321.982	290.751	117.297
Total Current Assets	11210.837	10988.873	7031.190
TOTAL	12657.853	12451.073	8343.412

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		TOTAL	16561.900	14407.900	7824.411
Less	EXPENSES
		TOTAL	16461.800	14608.400	7095.626
	PROFIT/ (LOSS) BEFORE TAX		100.100	(200.500)	188.785
Less	TAX		27.000	(63.000)	65.697
	PROFIT/ (LOSS) AFTER TAX		73.100	(137.500)	123.088
	Earnings/ (Loss) Per Share (Rs.)		9.75	(19.30)	17.28

Expected Sales (2013-2014): Rs. 15000.000 Millions

The above information has been parted by Mr. Rajesh Agarwal (Finance Head)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.44	(0.95)	1.57
Return on Total Assets (PBT/Total Assets}	(%)	0.45	(0.91)	1.38
Return on Investment (ROI) (PBT/Networth)		0.13	(0.32)	0.24
Debt Equity Ratio (Total Debt/Networth)		12.50	16.83	9.01
Current Ratio (Current Asset/Current Liability)		1.00	0.99	1.06

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	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	Yes
17]	Major suppliers	No
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10426227	06/09/2013 *	250,000,000.00	AXIS BANK LIMITED	6-3-879/B, G PULLA REDDY BUILDING, GREEN LAND, BEGUMPET, HYDERABAD - 500016, ANDHRA PRADESH, INDIA	B85874725
2	10246517	29/09/2010 *	280,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA	A99125213
3	10214377	29/03/2012 *	1,450,000,000.00	AXIS BANK LIMITED	D.NO.6-3-879/B FIRST FLOOR, G.PULLA REDDY BLDG, GREENLANDS, BEGUMPET ROAD, HYDERABAD - 500016, ANDHRA PRADESH, INDIA	B36569895
4	10219391	20/01/2012 *	1,810,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA	B30930580

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Intercorporate deposits	100.000	90.000
SHORT TERM BORROWINGS
Loans repayable on demand from banks	92.185	0.000
Total	192.185	90.000

COMPANY OVERVIEW

The Company is a subsidiary of Ruchi Soya Industries Limited, incorporated in accordance with the provisions of Companies Act, 1956 (the ‘Act’). The Company is primarily engaged in production and trading of edibles oil and fats.

REVIEW OF OPERATION

During the year, the company has achieved a sales turnover of Rs.15610.000 Millions with a profit before tax of Rs. 100.100 Millions. The performance of the company has been better than the previous year wherein there was a net loss of Rs. 200.500 Millions. The directors are continuously looking for avenues for a sustainable growth for a longer period. The company is striving hard to market more value added products and focus on increasing market share in branded segment.

FIXED ASSETS:

· Land

Buildings

Factory building

Plant and equipment

Factory equipments

Furniture and fixtures

Vehicles

Motor vehicles

Office equipment

Computer equipments

Other equipments

Computer software

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 62.31
UK Pound	1	Rs. 101.78
Euro	1	Rs. 84.68

INFORMATION DETAILS

Information Gathered by :	HTL
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	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.