MIRA INFORM REPORT

Report Date :

31.05.2014

IDENTIFICATION DETAILS

Name :	BABA GLOBAL LIMITED (w.e.f.07.03.1998)
Formerly Known As :	BABA GLOBAL PRIVATE LIMITED.
Registered Office :	4873, Chandni Chowk, Delhi - 110006
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	27.02.1998
Com. Reg. No.:	55-092459
Capital Investment / Paid-up Capital :	Rs. 11.429 Millions
CIN No.: [Company Identification No.]	U74899DL1998PLC092459
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Chewing Tobacco, Kiwam, Scented Ellaichi, Pan Masala and Gutka, Salt and Spices and Mouth Freshner etc.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2700000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating reflects company’s long track record of business operations supported by healthy profitability margins, and comfortable capital structure of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for 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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities : BBB (Withdrawn)
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	April 07, 2014

Reason for withdrawn: Company has fully repaid the amount under the said bank facility.

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 DECLINED BY

Name :	Mr. Lalit
Designation :	Accounts Head
Contact No.:	91-120-4624700
Date :	30.05.2014

LOCATIONS

Registered Office :	4873, Chandni Chowk, Delhi – 110006, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	bgl.fa@baba.in
Corporate Office :	A 34/35, Noida Sector 60, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-2584273/ 4624700

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Ritesh Kumar

Designation :

Director

Address :

E-1A, Maharani Bagh, New Delhi – 110065, India

Date of Birth/Age :

03.09.1982

Date of Appointment :

29.09.2010

DIN No.:

00110720

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	U74899DL1991PTC044503	S R CREDITS PRIVATE LIMITED	Director	29/03/2004	29/03/2004	-	Active	NO
2	U16008DL2004PTC123917	DHARAMPAL SATYAPAL SONS PRIVATE LIMITED	Director	01/06/2010	19/05/2005	01/04/2011	Active	NO
3	U52110DL1989PLC038613	DHARAMPAL SATYAPAL LIMITED	Director	15/09/2005	15/09/2005	-	Active	NO
4	U55101DL2005PLC137295	DS HOTELS AND RESORTS (INDIA) LIMITED	Director	13/12/2005	13/12/2005	-	Active	NO
5	U01122DL2006PTC144969	DS AGRI ESTATES PRIVATE LIMITED	Director	06/02/2006	06/02/2006	31/03/2009	Active	NO
6	U55101RJ1998PLC014779	J.R. RECREATION CLUBS AND RESORTS LIMITED	Director	10/07/2006	08/05/2006	30/03/2009	Active	NO
7	U26933DL2006PLC156320	BABA CERAMICS LIMITED	Director	12/01/2007	12/01/2007	-	Active	NO
8	U01119DL2007PTC158135	DS GREEN AGROTECH PRIVATE LIMITED	Director	18/01/2007	18/01/2007	31/03/2009	Active	NO
9	U74100DL1972PLC006062	DHARAM PAL PREM CHAND LIMITED	Whole-time director	01/10/2010	23/07/2009	-	Active	NO
10	U26919GJ2000PLC037610	SHELL & PEARL PORCELLANO LIMITED	Director	30/09/2010	16/01/2010	08/02/2013	Active	NO
11	U74899DL1998PLC092459	BABA GLOBAL LIMITED	Director	29/09/2010	12/02/2010	-	Active	NO
12	U72200DL2006PTC150036	AFFE TECHNOLOGIES PRIVATE LIMITED.	Director	06/04/2011	06/04/2011	-	Active	NO
13	U74900DL2011PLC217146	PRIMERA INFRA GREENS LIMITED	Director	06/04/2011	06/04/2011	-	Active	NO
14	U52100DL2011PLC216226	DS LUXURY RETAIL LIMITED	Director	29/09/2011	08/06/2011	-	Active	NO
15	U15549DL2011PLC222337	DS MILK PRODUCT LIMITED	Director	14/07/2011	14/07/2011	18/12/2012	Amalgamated	NO

Name :

Mr. Ravinder Kumar

Designation :

Director

Address :

E-1A, Maharani Bagh, New Delhi – 110065, India

Date of Birth/Age :

24.06.1954

Date of Appointment :

27.02.1998

DIN No.:

00111113

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	U74100DL1972PLC006062	DHARAM PAL PREM CHAND LIMITED	Managing director	16/01/2013	21/09/1974	-	Active	NO
2	U74899DL1991PTC044503	S R CREDITS PRIVATE LIMITED	Director	02/04/1992	02/04/1992	-	Active	NO
3	U74899DL1998PLC092459	BABA GLOBAL LIMITED	Director	27/02/1998	27/02/1998	-	Active	NO
4	U55101DL1988PLC033048	MANU MAHARANI HOTELS LIMITED	Director	10/02/2000	10/02/2000	-	Active	NO
5	U74899DL1994PTC060728	AAR ESS INTERNATIONAL PRIVATE LIMITED	Director	20/08/2002	20/08/2002	-	Active	NO
6	U52110DL1989PLC038613	DHARAMPAL SATYAPAL LIMITED	Director	07/03/2008	10/07/2003	-	Active	NO
7	U16008DL2004PTC123917	DHARAMPAL SATYAPAL SONS PRIVATE LIMITED	Director	07/01/2004	07/01/2004	-	Active	NO
8	U27107DL2004PTC128076	BABA GALVA PRIVATE LIMITED	Director	04/08/2004	04/08/2004	-	Active	NO
9	U55101DL2005PLC137295	DS HOTELS AND RESORTS (INDIA) LIMITED	Director	07/06/2005	07/06/2005	30/03/2009	Active	NO
10	U74899DL2005PTC142931	DS REALETORS PRIVATE LIMITED	Director	24/11/2005	24/11/2005	31/03/2009	Active	NO
11	U45201DL2005PTC140831	PARIVESH DEVELOPERS AND BUILDERS PRIVATE LIMITED	Director	29/09/2006	07/02/2006	-	Active	NO
12	U55101DL2001PLC112138	KOLKATTA HOTELS LIMITED	Director	28/09/2006	04/05/2006	-	Active	NO
13	U55101RJ1998PLC014779	J.R. RECREATION CLUBS AND RESORTS LIMITED	Director	10/07/2006	08/05/2006	30/03/2009	Active	NO
14	U70109DL2006PTC151800	TANAY BUILDWELL PRIVATE LIMITED.	Director	09/08/2006	09/08/2006	-	Active	NO
15	U70109DL2006PTC153214	ASIJA CONSTRUCTIONS PRIVATE LIMITED.	Director	07/09/2006	07/09/2006	-	Active	NO
16	U45200DL2006PTC153458	VIRAT DWELLERS PRIVATE LIMITED.	Director	09/09/2006	09/09/2006	15/02/2007	Active	NO
17	U45200DL2006PTC154719	SALAJ BUILDWELL PRIVATE LIMAITED.	Director	11/10/2006	11/10/2006	15/02/2007	Active	NO
18	U26933DL2006PLC156320	BABA CERAMICS LIMITED	Director	07/12/2006	07/12/2006	-	Active	NO
19	U16009DL2008PLC182235	BABA TOBACCO LIMITED	Director	20/08/2008	20/08/2008	-	Active	NO
20	U45201DL2005PTC136854	SPIRITUAL INFRASTRUCTURE PRIVATE LIMITED	Director	17/09/2009	15/04/2009	-	Active	NO
21	U55101DL2010PTC198671	SEVEN R HOTELS PRIVATE LIMITED	Director	04/02/2010	04/02/2010	-	Active	NO
22	U74900DL2011PTC216883	GREEN CRUSADER PRIVATE LIMITED	Director	01/04/2011	01/04/2011	-	Active	NO

Name :

Mr. Raj Kumar Kakrania

Designation :

Whole-time director

Address :

H-1593, 2^nd Floor, Cittaranjan Park, New Delhi – 110019, India

Date of Birth/Age :

24.12.1946

Date of Appointment :

02.04.2012

DIN No.:

00111292

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	U74899DL1998PLC092459	BABA GLOBAL LIMITED	Whole-time director	02/04/2012	02/04/1998	-	Active	NO
2	U52110DL1989PLC038613	DHARAMPAL SATYAPAL LIMITED	Director	04/09/1998	04/09/1998	-	Active	NO
3	U74100DL1972PLC006062	DHARAM PAL PREM CHAND LIMITED	Director	12/04/2006	12/04/2006	-	Active	NO
4	U70101DL2006PTC146777	AVICHAL BUILDCON PRIVATE LIMITED	Director	30/09/2008	01/04/2008	01/04/2011	Active	NO
5	U70101DL2006PTC146854	ABHISAR BUILDWELL PRIVATE LIMITED	Director	22/09/2008	01/04/2008	01/04/2011	Active	NO
6	U55101DL1988PLC033048	MANU MAHARANI HOTELS LIMITED	Director	29/08/2009	18/12/2008	-	Active	NO
7	U74950DL2013PTC254110	DS CANPACK PRIVATE LIMITED	Director	19/06/2013	19/06/2013	-	Active	NO
8	U15500DL2013PTC254108	DS DRINKS AND BEVERAGES PRIVATE LIMITED	Director	19/06/2013	19/06/2013	-	Active	NO
9	AAA-2612	REDFORT INFOSEC SOLUTIONS LLP	Designated Partner	26/10/2010	26/10/2010	-	Active	NO

Name :

Mr. Raghav Kumar

Designation :

Director

Address :

E-1A, Maharani Bagh, New Delhi – 110065, India

Date of Birth/Age :

21.07.1984

Date of Appointment :

29.09.2010

DIN No.:

03058014

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	U74899DL1998PLC092459	BABA GLOBAL LIMITED	Director	29/09/2010	05/05/2010	-	Active	NO
2	U16008DL2004PTC123917	DHARAMPAL SATYAPAL SONS PRIVATE LIMITED	Director	01/11/2010	05/05/2010	01/04/2011	Active	NO
3	U74100DL1972PLC006062	DHARAM PAL PREM CHAND LIMITED	Whole-time director	30/09/2010	01/09/2010	-	Active	NO
4	U74900DL2011PTC216883	GREEN CRUSADER PRIVATE LIMITED	Director	01/04/2011	01/04/2011	-	Active	NO
5	U74900DL2011PLC217146	PRIMERA INFRA GREENS LIMITED	Director	06/04/2011	06/04/2011	-	Active	NO
6	U63040DL2010PTC203043	MAHADEV MANAGEMENT SERVICES PRIVATE LIMITED	Director	18/09/2013	30/08/2013	29/03/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Lalit
Designation :	Accounts Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Ravinder Kumar	323000
Swati Saraf	8500
Baby Riti Gupta	8500
Rohan Kumar	25500
Dharampal Satyapal Limited, India	142900
Rajiv Kumar	186000
Dharampal Premchand Limited, India	150000
Rita Kumari	85000
Sunita Gupta	128500
Ritesh Kumar	25500
Raghav Kumar	25500
Ravi Kumar	25500
Suruchi Saraf	8500
Total	1142900

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	25.63
Directors or relatives of directors	74.37
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Chewing Tobacco, Kiwam, Scented Ellaichi, Pan Masala and Gutka, Salt and Spices and Mouth Freshner etc.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· The Jammu and Kashmir Bank Limited

A-44, Sector-26, Noida, Uttar Pradesh, India

· HDFC Bank Limited

· Bank of Maharashtra

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Term Loans From Banks Auto Loan from HDFC Bank (Secured against hypothecation of Mercedes Car)	0.000	1.158
Auto Loan from HDFC Bank (Secured against hypothecation of Chryshler Car)	0.836	2.401
Auto Loan from HDFC Bank (Secured against hypothecation of BMW Car)	1.540	4.357
Term Loan from Bank of Maharashtra (Secured against flats booked with Amrapali Silicon City) (Term of Repayment of Bank of Maharashtra Term Loan: 60 Equated monthly installments of Rs. 1.285 Millions p.m. w.e.f. October 2012, after initial Moratorium of 24 Months. Entire loan to be squared off within 84 months. Interest to be paid as and when applied.)	52.683	48.263
From Other Parties Noida Authority (Secured against Plot No. FH-05, Sector 131, Noida towards installment money payable of the Agricultural Land)	16.926	19.530
Less: Current maturities of long-term debts	20.400	15.854
SHORT TERM BORROWINGS
Loans repayable on demand From Banks Short term Overdraft (Secured against FDR for Rs.4.500 Millions in Sec 60 Unit and Rs. 14.000 Millions in NSEZ unit under lien with The J & K Bank)	13.028	2.136
Total	64.613	61.991

Banking Relations :	--
Auditors :
Name :	H.R. Surendra and Company Chartered Accountants
Address :	F-11B, Sector-27, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-2535792/ 4336702
Mobile No.:	91-9810147183
E-Mail :	hrsurendra@hotmail.com
Income-tax PAN of auditor or auditor's firm :	AAGPG5425K
Enterprises in respect of which the reporting enterprise is an associate :	· Dharampal Premchand Limited · Dharampal Satyapal Limited · Dharampal Satyapal Sons Private Limited
Enterprises over which any person described in is able to exercise significant influence :	· Aar Ess International Private Limited · Meenakshi Store · Abhisar Buildwell Private Limited · Avichal Buildcon Private Limited · Four Season Flavour and Company · SR Credits Private Limited · Shell and Pearl Ceramics Limited · Baba Global FZE
Wholly owned Subsidiary Company :	· Baba Global AG · Baba Global (BD) Limited · Baba Global Company FZE · Baba Global UK Limited · Green Crusader Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,142,900	Equity Shares	Rs. 10/- each	Rs. 11.429 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	11.429	11.429	11.429
(b) Reserves & Surplus	671.451	623.082	570.430
(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)	682.880	634.511	581.859
(3) Non-Current Liabilities
(a) long-term borrowings	51.585	59.855	60.511
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	3.609	2.710	2.760
Total Non-current Liabilities (3)	55.194	62.565	63.271
(4) Current Liabilities
(a) Short term borrowings	64.524	12.245	53.534
(b) Trade payables	4.065	5.501	6.000
(c) Other current liabilities	43.613	28.586	20.027
(d) Short-term provisions	21.846	15.243	7.109
Total Current Liabilities (4)	134.048	61.575	86.670
TOTAL	872.122	758.651	731.800
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	72.164	65.838	66.745
(ii) Intangible Assets	0.000	0.000	1.113
(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	446.721	306.577	316.577
(c) Deferred tax assets (net)	10.820	6.283	3.172
(d) Long-term Loan and Advances	189.635	214.503	158.426
(e) Other Non-current assets	4.340	8.388	8.389
Total Non-Current Assets	723.680	601.589	554.422
(2) Current assets
(a) Current investments	47.358	33.457	25.078
(b) Inventories	30.654	27.070	22.979
(c) Trade receivables	13.678	13.179	20.429
(d) Cash and cash equivalents	25.925	70.393	88.507
(e) Short-term loans and advances	3.517	3.179	3.019
(f) Other current assets	27.310	9.784	17.366
Total Current Assets	148.442	157.062	177.378
TOTAL	872.122	758.651	731.800

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations	244.168	191.303	225.393
		Other Income	19.702	39.796	26.570
		TOTAL (A)	263.870	231.099	251.963
Less	EXPENSES
		Cost of Materials Consumed	72.437	58.460	71.247
		Purchases of Stock-in-Trade	31.149	28.743	21.788
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2.979)	1.295	0.148
		Employees benefits expense	11.414	9.605	10.087
		Other expenses	64.779	47.675	85.994
		TOTAL (B)	176.800	145.778	189.264
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		87.070	85.321	62.699
Less	FINANCIAL EXPENSES (D)		7.586	1.801	3.344
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		79.484	83.520	59.355
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.620	6.770	7.967
	PROFIT BEFORE TAX (E-F) (G)		74.864	76.750	51.388
Less	TAX (H)		26.496	24.098	16.369
	PROFIT AFTER TAX (G-H) (I)		48.368	52.652	35.019
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	236.267	189.276	223.804
	IMPORTS
		Raw Materials	2.491	8.432	2.151
		Capital Goods	2.813	0.342	3.128
	TOTAL IMPORTS		5.304	8.774	5.279
	Earnings Per Share (Rs.)		42.32	46.07	30.64

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	18.33	22.78	13.90
Net Profit Margin (PBT/Sales)	(%)	30.66	40.12	22.80
Return on Total Assets (PBT/Total Assets}	(%)	18.06	17.22	12.47
Return on Investment (ROI) (PBT/Networth)		0.11	0.12	0.09
Debt Equity Ratio (Total Debt/Networth)		0.17	0.11	0.20
Current Ratio (Current Asset/Current Liability)		1.11	2.55	2.05

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	11.429	11.429	11.429
Reserves & Surplus	570.430	623.082	671.451
Net worth	581.859	634.511	682.880
long-term borrowings	60.511	59.855	51.585
Short term borrowings	53.534	12.245	64.524
Total borrowings	114.045	72.100	116.109
Debt/Equity ratio	0.196	0.114	0.170

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	225.393	191.303	244.168
		(15.125)	27.634

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	225.393	191.303	244.168
Profit	35.019	52.652	48.368
	15.54%	27.52%	19.81%

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 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	Yes
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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Loans repayable on demand from other party	46.596	10.109
Loan from Director	4.900	0.000
Total	51.496	10.109

REVIEW OF OPERATIONS

The Company is engaged in export of goods as merchant exporter as well as manufacturer exporter, exported various products like Chewing Tobacco, Kiwam, Scented Ellaichi, Pan Masala and Gutka, Salt and Spices and Mouthfreshner etc.

The company has achieved the net profit after tax of Rs. 48.368 Millions against Rs. 52.652 Millions of corresponding previous year.

FIXED ASSETS:

· Land

· Factory Building

· Plant and Machinery

· Generator and Electricity

· Electric Fittings

· Computers

· Office Equipments

· Furniture and Fixture

· Vehicles

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. 59.03
UK Pound	1	Rs. 98.91
Euro	1	Rs. 80.34

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	KAR
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		50

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.