MIRA INFORM REPORT

Report Date :

17.02.2014

IDENTIFICATION DETAILS

Name :	OM INDIA TRADING COMPANY PRIVATE LIMITED (w.e.f. 12.03.2010)
Formerly Known As :	ASSAM GINNING AND INDUSTRIES PRIVATE LIMITED
Registered Office :	East Market, Karim Bazar, Karim Ganj – 788710, Assam
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	19.08.1975
Com. Reg. No.:	02-001628
Capital Investment / Paid-up Capital :	Rs.72.471 Millions
CIN No.: [Company Identification No.]	U01405AS1975PTC001628
PAN No.: [Permanent Account No.]	AACCA7130Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Cotton, Oil Seeds, Pulses, Edible Oils, Industrial Oils, Grains, Bird Feed and Animal Fodder.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 1100000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. Management of the company has failed to file its financial for the year 2013 with the government department. Profitability of the company appears is low during 2012. However, performance capability is high. Trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

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

ECGC Country Risk Classification List – 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	BBB- (Long Term Rating)
Rating Explanation	Have moderate degree of safety and carry moderate credit risk
Date	April 2, 2013

Rating Agency Name	CARE
Rating	A3 (Short Term Bank Facilities)
Rating Explanation	Have moderate degree of safety and carry higher credit risk
Date	April 2, 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. Sandeep Bhura
Designation :	Director
Contact No.:	91-11-43720000
Date :	10.02.2014

LOCATIONS

Registered Office/ Factory :	East Market, Karim Bazar, Karim Ganj – 788710, Assam, India
Tel. No.:	91-11-43720000
Mobile No.:	91-9810391181 (Mr. Sandeep Bhura)
Fax No.:	91-11-23730173
E-Mail :	info@seeds.grains.com accounts@seeds-grains.com
Website :	www.seeds-grains.com
Area :	600 Sq. Ft
Location :	Owned
Factory 2 :	Mumbai, Maharashtra, India
Area :	80000 Sq. Ft
Location :	Owned
Factory 3 :	Kolkata, West Bengal, India
Area :	200000 Sq. Ft
Location :	Owned
Factory 4 :
Area :	Rajasthan, India
Location :	20000 Sq. Ft
Branch Office :	1004, Nirmal Towers, Barakhamba Road, New Delhi – 110001, India

DIRECTORS

As on: 29.09.2012

Name :

Mr. Sandeep Kumar Bhura

Designation :

Director

Address :

T – 23, IIND Floor, Green Park Main, New Delhi – 110017, India

Date of Birth/Age :

03.02.1980

Date of Appointment :

28.02.2001

DIN No.:

01476968

PAN No.:

AEAPB3478F

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	U01405AS1975PTC001628	OM INDIA TRADING COMPANY PRIVATE LIMITED	Director	28/02/2001	28/02/2001	-	Active	NO
2	U15317DL2006PTC145990	AYAM FOODS PRIVATE LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
3	U70109DL2008PTC177231	AAA REALTORS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO
4	U91110WB1957NPL023474	SHELLAC AND FOREST PRODUCTS EXPORT PROMOTION COUNCIL	Additional director	28/09/2012	28/09/2012	-	Active	NO

Name :

Mr. Sanjay Kumar Bhura

Designation :

Director

Address :

D – 35, Saket, New Delhi – 110017, India

Date of Birth/Age :

02.09.1971

Date of Appointment :

28.02.2001

DIN No.:

00097782

PAN No.:

ACAPB0744L

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	U01405AS1975PTC001628	OM INDIA TRADING COMPANY PRIVATE LIMITED	Director	28/02/2001	28/02/2001	-	Active	NO
2	U15317DL2006PTC145990	AYAM FOODS PRIVATE LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
3	U70109DL2008PTC177231	AAA REALTORS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO

MAJOR SHAREHOLDERS

As on: 29.09.2012

Names of Shareholders	No. of Shares
Keshri Chand Bhura	86120
Nirmal Kumar Bhura	8000
Manik Chand Surana	51000
Banshi Lal Bothra	2500
Rajendra Kumar Bhura	90850
Sanjay Kumar Bhura	1921905
Sandeep Kumar Bhura	1449850
Bimala Devi Bhura	118850
Peush Kumar Bhura	100
Tolaram Anchalia	5000
Sanjay Kumar Bhura and Sons, India	36650
Jai Chand Lal Bothra	5000
Namita Bhura	335000
K.C. Bhura and Sons	32300
Namita Family Trust	1490000
Arushi Family Trust	1614000
Total	7247125

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	99.12
Other	0.88
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Cotton, Oil Seeds, Pulses, Edible Oils, Industrial Oils, Grains, Bird Feed and Animal Fodder.

Products :

Products	ITC Code
Seeds	12074010
Cotton	12072090

Exports :

Products :

· Cotton,

· Oil Seeds

· Industrial Oils

· Bird Feed

· Animal Fodder

Countries :

· USA

· Algeria

· Germany

· Japan

· China

Terms :

Selling :

L/C, Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

100 (Approximately)

Bankers :

· State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi - 110001, India

· HSBC Bank Limited

· Indian Bank

· Bank of Baroda

· United Bank of India

· ICICI Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
SHORT TERM BORROWING
Working capital loans from banks	539.881	534.721
Total	539.881	534.721

Banking Relations :	--
Auditors :
Name :	Narender Nath and Company Chartered Accountants
Address :	9036/1, Multani Dhanda, Paharganj, New Delhi, India
PAN No.:	AAFPN8965L
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Seeds and Grains India Private Limited U01113AS2002PTC007850
Subsidiary Company :	· AAA Realtors Private Limited CIN No.: U70109DL2008PTC177231 · Ayam Foods Private Limited CIN No.: U15317DL2006PTC145990

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7247125	Equity Shares	Rs.10/- each	Rs.72.471 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		72.471	72.471	70.065
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		223.791	191.798	137.081
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		296.262	264.269	207.146
LOAN FUNDS
1] Secured Loans		593.881	534.721	656.774
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		593.881	534.721	656.774
DEFERRED TAX LIABILITIES		0.000	0.003	0.000
TOTAL		890.143	798.993	864.000
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		74.060	55.722	4.057
Capital work-in-progress		55.422	0.267	0.000
INVESTMENT		15.660	15.410	15.310
DEFERREX TAX ASSETS		0.004	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	517.768	498.979	596.334
	Sundry Debtors	164.026	105.929	250.273
	Cash & Bank Balances	103.919	104.804	95.505
	Other Current Assets	136.825	101.851	77.738
	Loans & Advances	25.215	18.194	35.254
Total Current Assets		947.753	829.757	1055.104
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	177.936	71.140	94.080
	Other Current Liabilities	24.820	31.023	108.34
	Provisions	0.000	0.000	8.235
Total Current Liabilities		202.756	102.163	210.655
Net Current Assets		744.997	727.594	844.449
MISCELLANEOUS EXPENSES		0.000	0.000	0.184
TOTAL		890.143	798.993	864.000

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	6198.019	3400.869	2957.330
		Other Income	29.066	(3.965)	11.866
		TOTAL (A)	6227.085	3396.904	2969.196
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	6084.368	3315.140	2944.838 (Including Financial Expenses)
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		142.717	81.764
Less	FINANCIAL EXPENSES (D)		94.338	52.408
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		48.379	29.356	24.358
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.783	0.962	1.308
	PROFIT BEFORE TAX (E-F) (G)		47.596	28.394	23.050
Less	TAX (H)		15.603	9.771	8.196
	PROFIT AFTER TAX (G-H) (I)		31.993	18.623	14.854
	Earnings Per Share (Rs.)		4.41	2.57	NA

Particulars	31.03.2013
Sales Turnover (Approximately)	1200.000

Expected Sales (2013-2014): Rs.1200.000 Millions

The above information has been parted by Mr. Sandeep Bhura

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.51	0.55	0.50
Net Profit Margin (PBT/Sales)	(%)	0.77	0.83	0.78
Return on Total Assets (PBT/Total Assets}	(%)	4.66	3.21	2.18
Return on Investment (ROI) (PBT/Networth)		0.16	0.11	0.11
Debt Equity Ratio (Total Debt /Networth)		2.00	2.02	3.17
Current Ratio (Current Asset/Current Liability)		4.67	8.12	5.01

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2,957.330	3,400.869	6,198.019
		14.998	82.248

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2,957.330	3,400.869	6,198.019
Profit	14.854	18.623	31.993
	0.50%	0.55%	0.52%

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 four 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	No
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	10353931	16/04/2012	89,000,000.00	UNION BANK OF INDIA	JIND BRANCH, JAGAT BUILDING, RANI TALAB, DISTRICT JIND, HARYANA - 126102, INDIA	B39024526
2	10032564	15/09/2012 *	2,835,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA	B59999433
3	90265086	25/03/2004	170,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, NEW DELHI, DELHI - 110001, INDIA	-
4	90266002	25/03/2004	170,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, NEW DELHI, DELHI - 110001, INDIA	-
5	90266672	28/12/2004 *	170,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH; JAWAHAR VYAPAR BHAWAN, 1; TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA	-
6	90265043	28/12/2004 *	222,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN ;1; TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA	-
7	90265180	28/12/2004 *	222,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH; JAWAHAR VYAPAR BHAWAN, 1; TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA	-

* Date of charge modification

FIXED ASSETS:

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

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.62.28
UK Pound	1	Rs.103.67
Euro	1	Rs.85.18

INFORMATION DETAILS

Information Gathered by :	PRT
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		33

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.