MIRA INFORM REPORT

Report Date :

20.11.2014

IDENTIFICATION DETAILS

Name :	PARIJAT INDUSTRIES (INDIA) PRIVATE LIMITED [w.e.f.12.07.2006]
Formerly Known As :	TRIUMPH PESTICIDES [BOMBAY] PRIVATE LIMITED
Registered Office :	M-77, 1st and 2nd Floor, M Block Market, Greater Kailash-II, New Delhi - 110052
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	17.05.1995
Com. Reg. No.:	55-161189
Capital Investment / Paid-up Capital :	Rs. 36.135 Millions
CIN No.: [Company Identification No.]	U24219DL1995PTC161189
PAN No.: [Permanent Account No.]	AABCT9862B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Crop Protection Chemicals and Inputs.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. As per ROC, the date of balance sheet [i.e. financial filed] is shown as 31.03.2014 but the documents related to the financial for the year 2014 are not available from any sources. As per available financial of 2013, general financial position of the company seems to be good. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that it had willfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term = BBB- [Suspended]
Rating Explanation	Moderate degree of safety it carry moderate credit risk.
Date	October 2014

Rating Agency Name	ICRA
Rating	Short term = A3 [Suspended]
Rating Explanation	Moderate degree of safety it carry higher credit risk.
Date	October 2014

Reason for Suspended: Inability to carry out rating in absence of requisite information from the company.

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. R.K. Sanu
Designation :	Accounts Manager
Contact No.:	91-11-45766000
Date :	20.11.2014

LOCATIONS

Registered Office :	M-77, 1st and 2nd Floor, M Block Market, Greater Kailash-II, New Delhi – 110052, India
Tel. No.:	91-11-45766000/ 41638091/ 95
Mobile No.:	91-9873707481 [Mr. Anil Sachdeva]
Fax No.:	91-11-45766055/ 41638098
E-Mail :	anil@parijatagrochemicals.com anil.s@parijat.in
Website :	http://www.parijatagrochemicals.com
Location :	Owned
Locality :	Commercial
Factory :	VPO Mandhour, Ambala – 134003, Haryana, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Keshav Anand

Designation :

Managing director

Address :

A-1/25, Panchsheel Enclave, New Delhi - 110017, India

Date of Birth/Age :

10.11.1957

Date of Appointment :

01.01.2013

PAN No.:

AAEPA6537C

DIN No.:

01050275

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	U74899DL1986PTC024621	PARIJAT CROP PROTECTION (INDIA) PRIVATE LIMITED	Director	26/06/1986	26/06/1986	-	Active	NO
2	U24219DL1995PTC161189	PARIJAT INDUSTRIES (INDIA) PRIVATE LIMITED	Managing director	01/01/2013	23/12/2003	-	Active	NO
3	U92190DL2011PTC221269	PARIJAT ENTERTAINMENT PRIVATE LIMITED	Director	22/06/2011	22/06/2011	-	Active	NO
4	U24100DL2007PTC166537	LEEDS LIFE SCIENCES PRIVATE LIMITED	Director	16/11/2011	16/11/2011	14/03/2012	Active	NO

Name :

Mr. Vikram Raj Anand

Designation :

Director

Address :

A-1/25, Panchsheel Enclave, New Delhi - 110017, India

Date of Appointment :

23.12.2003

PAN No.:

AAGPA4350D

DIN No.:

00081386

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	U74899DL1986PTC024621	PARIJAT CROP PROTECTION (INDIA) PRIVATE LIMITED	Director	29/08/1988	29/08/1988	-	Active	NO
2	U24219DL1995PTC161189	PARIJAT INDUSTRIES (INDIA) PRIVATE LIMITED	Director	23/12/2003	23/12/2003	-	Active	NO
3	U74140DL2006PTC147965	PARIJAT CONSULTING PRIVATE LIMITED	Director	24/03/2006	24/03/2006	-	Active	NO
4	U65924DL2007PTC161261	PARIJAT FINANCIAL CONSULTANCY PRIVATE LIMITED	Director	28/03/2007	28/03/2007	-	Active	NO
5	U24100DL2007PTC166537	LEEDS LIFE SCIENCES PRIVATE LIMITED	Director	01/08/2007	01/08/2007	14/03/2012	Active	NO

Name :

Sharat Anand

Designation :

Director

Address :

Flat # 502, Royale Retreat Apartments, Charmwood Village, Surajkund Road, Faridabad - 121009, Haryana, India

Date of Birth/Age :

16.10.1959

Date of Appointment :

02.06.2012

PAN No.:

AANPA0326J

DIN No.:

00083237

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	L51505MH1962PLC012425	ELPRO INTERNATIONAL LIMITED	Director	27/01/2006	27/01/2006	15/11/2011	Active	NO
2	L25202WB1993PLC111382	FLEXITUFF INTERNATIONAL LIMITED	Director	30/09/2014	08/04/2008	-	Active	NO
3	U65924DL2007PTC161261	PARIJAT FINANCIAL CONSULTANCY PRIVATE LIMITED	Director	29/05/2012	29/05/2012	-	Active	NO
4	U74140DL2006PTC147965	PARIJAT CONSULTING PRIVATE LIMITED	Director	29/05/2012	29/05/2012	-	Active	NO
5	U24219DL1995PTC161189	PARIJAT INDUSTRIES (INDIA) PRIVATE LIMITED	Director	02/06/2012	02/06/2012	-	Active	NO
6	U74899DL1986PTC024621	PARIJAT CROP PROTECTION (INDIA) PRIVATE LIMITED	Director	16/07/2012	16/07/2012	-	Active	NO

Name :

Mr. Abhay Kumar Gupta

Designation :

Director

Address :

Flat No. 908, Brentwood Towers, Charmwood Village,, Faridabad - 121009, Haryana, India

Date of Birth/Age :

17.12.1958

Date of Appointment :

29.09.2007

PAN No.:

AASPG4584D

DIN No.:

01602375

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	U24219DL1995PTC161189	PARIJAT INDUSTRIES (INDIA) PRIVATE LIMITED	Director	29/09/2007	31/07/2007	-	Active	NO
2	U24211DL1970NPL005200	CROP CARE FEDERATION OF INDIA	Director	05/12/2009	05/12/2009	-	Active	NO
3	U24100DL2007PTC166537	LEEDS LIFE SCIENCES PRIVATE LIMITED	Director	16/11/2011	16/11/2011	14/03/2012	Active	NO

Name :

Savmit Grover

Designation :

Director

Address :

C - 2/32, Safdarjung Development Area, New Delhi - 110016, India

Date of Birth/Age :

07.11.1962

Date of Appointment :

31.07.2007

DIN No.:

00485304

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	U45201DL2005PTC135940	CANTON BUILDERS PRIVATE LIMITED	Director	09/05/2005	09/05/2005	24/12/2007	Active	YES
2	U11201DL1985PLC022279	HLS ASIA LIMITED	Director	22/06/2005	22/06/2005	-	Active	NO
3	U45201DL2006PTC147757	PIONEER INFRABUILD PRIVATE LIMITED	Director	07/07/2006	07/07/2006	-	Active	NO
4	U00313DL2005PTC140501	BMG POLYPLAST PRIVATE LIMITED	Director	07/07/2006	07/07/2006	-	Active	NO
5	U72900DL2006PTC156785	SEGUE TECHNOLOGIES PRIVATE LIMITED	Director	20/12/2006	20/12/2006	15/03/2011	Strike off	NO
6	U51101DL2007PTC157875	BPS INTERNATIONAL PRIVATE LIMITED	Director	15/01/2007	15/01/2007	22/08/2014	Active	NO
7	U45201DL2006PTC147089	ALAG BUILDWELL PRIVATE LIMITED	Director	01/02/2007	01/02/2007	24/01/2011	Active	NO
8	U70101DL2006PTC147966	POINEER INFRAPROP PRIVATE LIMITED	Director	01/02/2007	01/02/2007	-	Active	NO
9	U72400DL2007PTC161192	STRATOSHEAR TECHNOLOGIES PRIVATE LIMITED	Director	28/03/2007	28/03/2007	-	Active	NO
10	U67190DL2007PTC161442	BPS SYNAPSE INVESTMENTS PRIVATE LIMITED	Director	30/03/2007	30/03/2007	-	Active	NO
11	U93000DL2005PTC139635	SGA GLOBAL ADVISORS PRIVATE LIMITED	Director	13/04/2007	13/04/2007	25/04/2011	Active	NO
12	U74899DL1995PTC068853	AKSHIT PROPERTIES PRIVATE LIMITED	Director	09/06/2007	09/06/2007	-	Strike off	NO
13	U45200DL2006PTC156444	SKYLINE REALCON PRIVATE LIMITED	Director	09/06/2007	09/06/2007	-	Active	NO
14	U45201DL2006PTC147090	HOPE REALTORS PRIVATE LIMITED	Director	09/06/2007	09/06/2007	-	Active	NO
15	U65923DL2007PTC165621	BPS HOLDINGS PRIVATE LIMITED	Director	06/07/2007	06/07/2007	-	Active	NO
16	U24219DL1995PTC161189	PARIJAT INDUSTRIES (INDIA) PRIVATE LIMITED	Director	29/09/2007	31/07/2007	-	Active	NO
17	U18101DL2001PTC112198	NADIA STUDIO PRIVATE LIMITED	Director	30/11/2007	30/11/2007	-	Active	NO
18	U72900DL2008PTC176138	WAVESPREE TECHNOLOGIES PRIVATE LIMITED	Director	31/03/2008	31/03/2008	-	Under liquidation	NO
19	U25209DL2006PTC156345	AASTHA POLYPLAST PRIVATE LIMITED	Director	24/03/2009	24/03/2009	-	Active	NO
20	U74999MH2007PTC255431	KARMA COILS PRIVATE LIMITED	Director	30/09/2010	25/05/2010	17/10/2011	Active	NO
21	U28113DL2006PTC148559	KARO COILS PRIVATE LIMITED	Director	07/06/2010	07/06/2010	-	Active	NO
22	U50101DL2001PTC110408	GOPAL AUTOMOBILE AGENCIES PRIVATE LIMITED	Director	04/06/2011	04/06/2011	-	Active	NO
23	U74900DL2011PTC212502	KMAC ENVIRONMENTAL SERVICES PRIVATE LIMITED	Director	08/09/2011	08/09/2011	28/07/2014	Active	NO
24	U80300DL2007PTC168560	ABSOLUT ABUNDANS EDUCATION PRIVATE LIMITED	Director	09/01/2012	09/01/2012	26/03/2013	Strike off	NO
25	U74900DL2012PTC238844	VADS CONSULTING PRIVATE LIMITED	Director	13/07/2012	13/07/2012	16/05/2013	Active	NO

KEY EXECUTIVES

Name :	Mr. R.K. Sanu
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Keshav Anand	1325900
Vikram Raj Anand	1325900
Parvati Anand	33600
Kuldeep Raj Anand	33600
Shruti Anand	67200
Harshi Anand	33600
Aditi Anand	16800
Uday Anand	16800
Abhay Kumar Gupta	180740
Parijat Crop Protection (India) Private Limited, India	204400
Sharat Anand	375000
Total	3613540

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	5.66
Directors or relatives of directors	94.34
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Crop Protection Chemicals and Inputs.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Crop Protection Chemicals and Inputs
Countries :	· South Africa Egypt Uganda Kenya Russia German Turkey UK Italy
Imports :
Products :	Technical Chemicals
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Experience:	Not Divulged
Maximum limit dealt:	Not Divulged

Customers :

Retailers and End Users

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Experience:	Not Divulged
Maximum limit dealt:	Not Divulged

No. of Employees :

400 (Approximately)

Bankers :

Bank Name:	HDFC Bank Limited
Branch:	HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks: --

· Oriental Bank of Commerce

Overseas Branch, M-33 Greater Kailash-II, New Delhi - 110048, Delhi, India

Facilities :

Cash Credit = Rs. 100.000 Millions [From HDFC Bank Limited]

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Rupee term loans from banks	32.059	6.796
Other loans and advances	8.143	3.528
SHORT TERM BORROWINGS
Rupee term loans from banks	5.016	0.388
Loans taken for fixed assets	6.049	2.258
Other loans and advances	369.512	251.962
Total	420.779	264.932

Auditors :
Name :	V. K. Thapar and Company Chartered Accountants
Address :	C-2/37 Safdarjung Development Area, New Delhi - 110016, India
Income-tax PAN of auditor or auditor's firm :	AAFFV8112R
Enterprises which are owned, or have or are partners with Key management relatives :	· Parijat Consulting Parijat Consulting Private Limited [U74140DL2006PTC147965] Parijat Financial Consultancy Private Limited [U65924DL2007PTC161261] Leeds Life Sciences Private Limited (UK)
Subsidiary company :	· Leeds Life Sciences Private Limited [U24100DL2007PTC166537] Parijat Entertainment Private Limited [U92190DL2011PTC221269] Belin International Limited Belin Limited Leed Life Science Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,613,540	Equity Shares	Rs. 10/- each	Rs. 36.135 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	36.135	36.135	36.135
(b) Reserves & Surplus	281.211	179.767	99.799
(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)	317.346	215.902	135.934
(3) Non-Current Liabilities
(a) Long-term borrowings	65.507	42.529	30.639
(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	8.574	4.680	2.473
Total Non-current Liabilities (3)	74.081	47.209	33.112
(4) Current Liabilities
(a) Short term borrowings	387.177	259.003	195.404
(b) Trade payables	371.784	251.687	104.645
(c) Other current liabilities	125.998	95.312	70.678
(d) Short-term provisions	58.673	49.224	38.176
Total Current Liabilities (4)	943.632	655.226	408.903
TOTAL	1335.059	918.337	577.949
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	120.443	74.102	66.475
(ii) Intangible Assets	5.420	1.011	0.140
(iii) Capital work-in-progress	67.291	10.697	1.096
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	5.945	1.143	0.000
(c) Deferred tax assets (net)	0.215	0.651	0.741
(d) Long-term Loan and Advances	7.382	2.727	3.377
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	206.696	90.331	71.829
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	267.645	165.150	134.829
(c) Trade receivables	664.310	532.280	275.107
(d) Cash and cash equivalents	81.882	45.806	34.599
(e) Short-term loans and advances	110.345	83.993	59.819
(f) Other current assets	4.181	0.777	1.766
Total Current Assets	1128.363	828.006	506.120
TOTAL	1335.059	918.337	577.949

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operations	2069.825	1390.560	1229.237
		Other Income	14.316	4.079	11.987
		TOTAL (A)	2084.141	1394.639	1241.224
Less	EXPENSES
		TOTAL (B)	1886.212	1243.132	1125.628
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		197.929	151.507	115.596
Less	FINANCIAL EXPENSES (D)		25.913	14.259	11.345
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		172.016	137.248	104.251
Less/ Add	DEPRECIATION/ AMORTISATION (F)		11.644	8.115	5.715
	PROFIT BEFORE TAX (E-F) (G)		160.372	129.133	98.536
Less	TAX (H)		53.855	44.109	33.319
	PROFIT AFTER TAX (G-H) (I)		106.517	85.024	65.217
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		174.182	96.714	38.202
Less	APPROPRIATIONS
		Transfer to General Reserve	3.000	2.500	1.650
		Proposed Dividend on Equity Shares	4.336	4.336	4.336
		Dividend distribution tax	0.737	0.720	0.719
	BALANCE CARRIED TO THE B/S		272.626	174.182	96.714
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	956.703	765.649	645.867
	CIF VALUE OF IMPORTS		852.864	520.990	434.223
	Earnings Per Share (Rs.)		29.48	23.53	18.05

PARTICULARS	31.03.2014
Sales Turnover (Approximately)	2920.000

Expected Sales (2014-2015): Rs. 4000.000 Millions

The above information has been parted by Mr. R.K. Sanu [Accounts Manager]

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	5.15	6.11	5.31
Operating Profit Margin (PBDIT/Sales)	(%)	9.56	10.90	9.40
Return on Total Assets (PBT/Total Assets}	(%)	12.71	14.26	17.10
Return on Investment (ROI) (PBT/Networth)		0.51	0.60	0.72
Debt Equity Ratio (Total Debt/Networth)		1.43	1.40	1.66
Current Ratio (Current Asset/Current Liability)		1.20	1.26	1.24

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	36.135	36.135	36.135
Reserves & Surplus	99.799	179.767	281.211
Net worth	135.934	215.902	317.346
Long-term borrowings	30.639	42.529	65.507
Short term borrowings	195.404	259.003	387.177
Total borrowings	226.043	301.532	452.684
Debt/Equity ratio	1.663	1.397	1.426

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	1229.237	1390.560	2069.825
		13.124	48.848

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	1229.237	1390.560	2069.825
Profit	65.217	85.024	106.517
	5.31%	6.11%	5.15%

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	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	10476367	29/01/2014	41,100,000.00	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	RAMON HOUSE 169 BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA	B95824272
2	10334930	14/08/2014 *	1,041,800,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	C20663829

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Loans and advances from related parties	24.405	21.305
Other loans and advances	0.900	10.900
SHORT TERM BORROWINGS
Loans and advances from related parties	6.600	4.395
Total	31.905	36.600

CORPORATE INFORMATION

Subject is a company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in the manufacturing and exports of agrochemicals, urban pest management, public health and veterinary pharmaceuticals. Its ranges of generic formulation, supported by excellent recipes, have been acknowledged by its worldwide customers for their efficacy.

REVIEW OF PERFORMANCE

During the year, the Company has registered total income of Rs. 2084.141 Millions and net profit after tax of Rs.106.517 Millions as compared to Rs. 1394.639 and Rs. 85.024 Millions respectively in the previous year.

FIXED ASSETS:

· Land

Buildings

Office building

Factory building

Furniture and fixtures

Vehicles

Computer equipments

Other equipments

Brands and trade marks

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. 61.83
UK Pound	1	Rs. 96.56
Euro	1	Rs. 77.42

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
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	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.