MIRA INFORM REPORT

Report Date :

29.10.2014

IDENTIFICATION DETAILS

Name :	KALASH SEEDS PRIVATE LIMITED
Registered Office :	Bejo Sheetal Corner, Mantha Road, Jalna – 431 203, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	31.01.2011
Com. Reg. No.:	11-212849
Capital Investment / Paid-up Capital :	Rs. 0.400 Million
CIN No.: [Company Identification No.]	U01403MH2011PTC212849
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Vegetable Seeds, Cotton Seeds, Exotic Seeds, True Potato Seeds, Tissue Culture Banana Seedlings.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 91000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Management has seen a dip in its sales revenue during 2013. The ratings take into consideration the debt free capital structure of the company. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered for normal business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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 wilfully 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.

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 DENIED BY

Name :	Mr. Rahul
Designation :	Accountant
Contact No.:	Not Avaialble
Date :	21.10.2014

LOCATIONS

Registered Office :	Bejo Sheetal Corner, Mantha Road, Jalna – 431 203, Maharashtra, India
Tel. No.:	91-2482-244000 (100 Lines)
Fax No.:	91-2482-230398
E-Mail :	kalashseeds@gmail.com piyushragrawal@gmail.com
Website :	http://www.kalasheeds.com
Branches 1 :	Plot No.41, Excel Tower, Varuna Bridge, Varanasi(UP)-221001
Mobile No.:	91-9452713480 (Mr. subhash)
Branches 2 :	No.70/71, Ground Floor, Guru complex , 2^nd Cross, Dasarhalli Main Road, Bhuveneshwari Nagar, Banglore-560024, India
Mobile No.:	91-8032919989/9482065891 (Mr. Sunil)
Branches 3 :	610, Sneha Nagar, Near Lotus Show Room, Indore -452001, India
Tel No.:	91-731-6452902/
Mobile No.:	91-9302751972
Branches 4 :	h. No. 5-5-692, Plot No.-49/A, Block T, Abhudyanagar colony, near chintalakunta check post, vasanstali Puram, haryathnagar (M), rangareddy
Mobile No.:	91-8008831022 (Mr.Jai)
Branches 5 :	7 B, pratap- Aditya road, kolkata- (W.B)
Mobile No.:	91-9434201681/9088599173 (Mr.Bidhu)
Branches 6 :	28, N.B.C.C. plaza, kareli baug, opposite utakarsha petrol pump, barada-390018
Mobile No.:	91-9909453344/9825994044 (Mr.Suhas)
Branches 7 :	104, Anand paramila kunj, road No.4, near nagar, patilputra volony, patna-800013, india
Mobile No.:	91-9431023324/9234759959 (Mr. Sudhir)
Branches :	Door no.26-2-7, r c r complex, mastan darga back side, nagarampalem, near old colth market, Guntur-522004, india
Mobile No.:	91-9959937573 (Mr.Murti)

DIRECTORS

As on: 28.09.2013

Name :

Mr. Sameer Suresh Agrawal

Designation :

Director

Address :

Civil CLU – B, Jalna – 431203, Maharashtra, India

Date of Birth/Age :

13.10.1972

Date of Appointment :

31.01.2011

DIN No.:

00668455

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	U01120MH1986PTC038852	BEJO SHEETAL SEEDS PVT LTD	Director	09/02/2000	09/02/2000	-	Active	NO
2	U01112MH2001PLC131608	SAFAL SEEDS AND BIOTECH LIMITED	Director	16/04/2001	16/04/2001	-	Active	NO
3	U63023MH1999PTC118970	MARATHWADA COLD STORAGE PRIVATE LIMITED	Director	14/11/2005	14/11/2005	-	Active	NO
4	U01135TG2008PTC059546	RED CHILLY SPICES PRIVATE LIMITED	Director	06/06/2008	06/06/2008	-	Strike off	NO
5	U51101MH2008PTC187745	SHEETAL YAYU CORN TECHNOLOGIES PRIVATE LIMITED	Director	23/10/2008	23/10/2008	-	Active	NO
6	U73100MH2009NPL196388	BEJO SHEETAL BIO-SCIENCE FOUNDATION	Director	09/10/2009	09/10/2009	-	Active	NO
7	U01130MH2010PTC205976	SUKASA SEEDS PRIVATE LIMITED	Director	27/07/2010	27/07/2010	-	Active	NO
8	U01403MH2011PTC212849	KALASH SEEDS PRIVATE LIMITED	Director	31/01/2011	31/01/2011	-	Active	NO

Name :

Mr. Chinde Vasantrao Vijay

Designation :

Director

Address :

Ghayal Nagar, Jalna – 431203, Maharashtra, India

Date of Appointment :

01.02.2012

DIN No.:

03519401

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	U01403MH2011PTC212849	KALASH SEEDS PRIVATE LIMITED	Director	01/02/2012	01/02/2012	-	Active	NO
2	U01135TG2008PTC059546	RED CHILLY SPICES PRIVATE LIMITED	Director	29/02/2012	29/02/2012	-	Strike off	NO

Name :

Mr. Kamalkishor Onkarprasad Zunzunwala

Designation :

Director

Address :

Nath Nagar, Mantha Road, Jalna – 431203, Maharashtra, India

Date of Birth/Age :

27.04.1951

Date of Appointment :

31.01.2011

DIN No.:

00668347

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	U01120MH1986PTC038852	BEJO SHEETAL SEEDS PVT LTD	Director	04/02/1986	04/02/1986	-	Active	NO
2	U01112MH2001PLC131608	SAFAL SEEDS AND BIOTECH LIMITED	Director	16/04/2001	16/04/2001	-	Active	NO
3	U63023MH1999PTC118970	MARATHWADA COLD STORAGE PRIVATE LIMITED	Director	14/11/2005	14/11/2005	-	Active	NO
4	U01403MH2008PTC185687	PHOENIX AGRITECH PRIVATE LIMITED	Director	11/08/2008	11/08/2008	-	Active	NO
5	U51101MH2008PTC187745	SHEETAL YAYU CORN TECHNOLOGIES PRIVATE LIMITED	Director	23/10/2008	23/10/2008	-	Active	NO
6	U73100MH2009NPL196388	BEJO SHEETAL BIO-SCIENCE FOUNDATION	Director	09/10/2009	09/10/2009	-	Active	NO
7	U01403MH2011PTC212849	KALASH SEEDS PRIVATE LIMITED	Director	31/01/2011	31/01/2011	-	Active	NO

Name :

Mr. Madhusudan Shreeniwas Bhakkad

Designation :

Director

Date of Appointment :

01.02.2012

DIN No.:

05154054

KEY EXECUTIVES

Name :	Mr. Rahul
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.09.2013

Names of Shareholders	No. of Shares
Sameer Suresh Agrawal	10000
Kamalkishor Onkarprasad Zunzunwala	10000
Suresh O. Agrawal	10000
Bejo Sheel Seeds (Private) Limited, India	10000
Total	40000

Equity Share Break up (Percentage of Total Equity)

As on: 28.09.2013

Category	Percentage
Bodies corporate	25.00
Directors or relatives of directors	75.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Vegetable Seeds, Cotton Seeds, Exotic Seeds, True Potato Seeds, Tissue Culture Banana Seedlings.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Malkapur Urban Bank Axis Bank HDFC Bank IDBI Bank State Bank of India State Bank of Hyderabad

Banking Relations :	--
Auditors :
Name :	Bhushan R. Bhakkad Chartered Accountant
Address :	3^rd Floor, Bhakkad Business Center, R.P. Road, Jalna – 431203, Maharashtra, India
PAN No.:	AFGPB4037F
Associates:	Bejo Sheetal Seeds Private Limited

CAPITAL STRUCTURE

As on: 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.10/- each	Rs. 0.400 Million

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	0.400	0.400	0.100
(b) Reserves & Surplus	31.610	17.080	0.000
(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)	32.010	17.480	0.100
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	520.191	390.787	3.293
(c) Other current liabilities	2.278	1.848	0.000
(d) Short-term provisions	1.444	0.991	0.000
Total Current Liabilities (4)	523.913	393.626	3.293
TOTAL	555.923	411.106	3.393
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	14.674	14.786	2.790
(ii) Intangible Assets	0.157	0.000	0.000
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.474	0.051	0.000
Total Non-Current Assets	15.305	14.837	2.790
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	396.625	275.571	0.000
(c) Trade receivables	108.556	108.947	0.000
(d) Cash and cash equivalents	23.744	3.520	0.101
(e) Short-term loans and advances	9.697	7.057	0.000
(f) Other current assets	1.996	1.174	0.502
Total Current Assets	540.618	396.269	0.603
TOTAL	555.923	411.106	3.393

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
SALES
Income	526.023	601.347
Other Income	0.769	2.876
TOTAL	526.792	604.223	NA
EXPENSES
TOTAL	500.053	576.387	NA
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	26.739	27.836	NA
FINANCIAL EXPENSES	0.000	0.000	NA
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	26.739	27.836	NA
DEPRECIATION/ AMORTISATION	4.203	2.067	NA
PROFIT/ (LOSS) BEFORE TAX	22.536	25.420	NA
TAX (I)	8.000	8.340	NA
PROFIT/ (LOSS) AFTER TAX	14.536	17.080	0.000
EARNINGS IN FOREIGN CURRENCY	0.000	1.089	0.000
Earnings / (Loss) Per Share (Rs.)	363.40	427.00	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.76	2.83	0.00
Net Profit Margin (PBT/Sales)	(%)	4.28	4.22	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.05	6.18	NA
Return on Investment (ROI) (PBT/Networth)		0.70	1.45	NA
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.03	1.01	0.18

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	0.100	0.400	0.400
Reserves & Surplus	0.000	17.080	31.610
Net worth	0.100	17.480	32.010
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	601.347	526.023
	0.000	(12.526)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	601.347	526.023
Profit	17.080	14.536
	2.84%	2.76%

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 two years	Yes
12]	Profitability for last two 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	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	No
24]	Banking facility details	No
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	No

OPERATIONS:

The company has earned profit before taxation of Rs. 22.530 millions during the year. The company is trying to increase the business activities. The company hopes to achieve results in the current year as their finished goods are they accepted in the market. They are also trying to tap new customer for achievement of targeted sales and services and are confident that they shall be able to retain their valuable with efficient customer oriented services.

FIXED ASSETS

• Furniture
• Machinery and Equipments
• Office
• Computer
• Air Conditioner
• 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 records 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.61.35
UK Pound	1	Rs.98.93
Euro	1	Rs.77.92

INFORMATION DETAILS

Information Gathered by :	SUV
Analysis Done by :	SUB
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	6
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.