MIRA INFORM REPORT

Report No. :	316653
Report Date :	10.04.2015

IDENTIFICATION DETAILS

Name :	G-ONE AGRO PRODUCTS LIMITED
Registered Office :	Plot No-1067, Kadi Road, Chhatral, Taluka-Kalol, District-Gandhinagar-382729, Gujarat
Tel. No.:	91-79-27541115/ 27541208
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	12.11.2003
Com. Reg. No.:	04-043170
Capital Investment / Paid-up Capital :	Rs. 100.000 Million
CIN No.: [Company Identification No.]	U15141GJ2003PLC043170
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCG0245Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Supplier and Trading of Cotton Seed Oil, Palm Oil, Food Oil.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 670000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating reflects company’s healthy operational risk profile marked by adequate capital base and extensive industry experience of promoters in edible oil industry. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating (BB)
Rating Explanation	Inadequate-credit-quality and high credit risk.
Date	April 17, 2014
Rating Agency Name	CRISIL
Rating	Short Term Rating (A4+)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	April 17, 2014

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. Amit Patel
Designation :	Manager
Contact No.:	91-9825018523
Date :	10.04.2015

LOCATIONS

Registered Office :	Plot No-1067, Kadi Road, Chhatral, Taluka-Kalol, District-Gandhinagar-382729, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9825018523 (Mr. Amit Patel)
Fax No.:	Not Available
E-Mail :	hbpca305@gmail.com
Factory :	102, Himdri Complex, Near Toran dining Hall, Opposites sales India, Ashram Road, Ahmedabad-380009,Gujarat, India
Tel. No.:	91-79-27541115/ 27541208
Fax No.:	91-79-27540563

DIRECTORS

As on: 29.09.2014

Name :

Mr. Pankaj Narsinhbhai Patel

Designation :

Director

Address :

23/2 Uttar Gujarat Patel Society, Baliya Limda, Asarwa, Ahmedabad - 380002, Gujarat, India

Date of Birth/Age :

02.04.1969

Date of Appointment :

31.10.2012

PAN No.:

AAMPP4219N

DIN No.:

00489042

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	U15411GJ1994PLC021061	NATIONAL PROTEIN AND SOLVENT LIMITED	WHOLE-TIME DIRECTOR	01/07/2009	01/07/1997	-	ACTIVE	NO
2	U15141GJ2003PLC043170	G-ONE AGRO PRODUCTS LIMITED	DIRECTOR	31/10/2012	31/10/2012	-	ACTIVE	NO

Name :

Mr. Mavajibhai Becharbhai Patel

Designation :

Director

Address :

4, Amikunj Society, Techinal School Kalol, Gandhinagar - 382721, Gujarat, India

Date of Birth/Age :

01.06.1963

Date of Appointment :

01.04.2007

PAN No.:

AAVPP8873H

DIN No.:

01763127

Name :

Mr. Appu Bhagvanbhai Patel

Designation :

Director

Address :

No- 33, Raghukul Bunglow, Opposie Gulab Tower Sola Road, Thaltej, Ahmedabad - 380054, Gujarat, India

Date of Birth/Age :

18.06.1981

Date of Appointment :

01.04.2007

PAN No.:

AGMPP2967K

DIN No.:

01763165

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	U15141GJ2003PLC043170	G-ONE AGRO PRODUCTS LIMITED	DIRECTOR	01/04/2007	01/04/2007	-	ACTIVE	NO
2	U15400GJ2009PLC058923	NATUREFRESH INDUSTRIES LIMITED	DIRECTOR	17/12/2009	17/12/2009	-	ACTIVE	NO

Name :

Mr. Bhagwanbhai Becharbhai Patel

Designation :

Director

Address :

33, Radhukul Bunglow, Nayan Society, Nandishvar Thaltej, Ahmedabad - 380059, Gujarat, India

Date of Birth/Age :

01.05.1955

Date of Appointment :

31.10.2012

PAN No.:

AFUPP7663P

DIN No.:

01845092

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	U15411GJ1994PLC021061	NATIONAL PROTEIN AND SOLVENT LIMITED	WHOLE-TIME DIRECTOR	01/07/2009	01/09/2002	-	ACTIVE	NO
2	U15141GJ2003PLC043170	G-ONE AGRO PRODUCTS LIMITED	DIRECTOR	31/10/2012	12/11/2003	-	ACTIVE	NO
3	U15400GJ2009PLC058923	NATUREFRESH INDUSTRIES LIMITED	DIRECTOR	17/12/2009	17/12/2009	-	ACTIVE	NO

KEY EXECUTIVES

Name :	Mr. Amitbhai Kantibhai Patel
Designation :	Manager
Address :	33, Radhukul Bunglow, Nayan Society, Nandishvar Thaltej, Ahmedabad - 380059, Gujarat, India
Date of Birth/Age :	04.11.1979
Date of Appointment :	01.08.2012
PAN	AHKPP0208L

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2014

Names of Shareholders	No. of Shares	Percentage
Amitbhai Kantibhai Patel	1000000	10.00
Mavajibhai Becharbhai Patel	2500000	25.00
Bhagwanbhai Becharbhai Patel	2600000	26.00
Appu Bhagvanbhai Patel	2500000	25.00
Pankaj Narsinhbhai Patel	1000000	10.00
Mavjibhai Dhvanil Patel	400000	4.00
Total	10000000	100.00

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Supplier and Trading of Cotton Seed Oil, Palm Oil, Food Oil.

Products :

Item Code No.	Product Description
Refined Edible Oil	15111000

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank of India, Ahmedabad MID Corporate Branch, 1st Floor, BOI Building, Ahmedabad - 380009, Gujarat, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from others	81.691	74.325
Short-term borrowings
Working capital loans from banks	240.167	95.442
Total	321.858	169.767

Banking Relations :	PNB Investment Service Limited - Security Trustee of BOI Const. BOI and BOB, Motor Sales and Services Building Ahmedabad - 380009, Gujarat, Ahmedabad
Auditors :
Name :	H.B. Patel and Associates Chartered Accountants
Address :	305, 3rd Floor, "Ashoka",S.P. Stadium Road, Opposite Amarnath Co-Operative Bank Limited, Navrangpura, Ahmedabad- 380014, Gujarat, India
E-Mail :	hbpca305@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAGFH9319B
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 31.03.2014

Authorized Capital:

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

Issued, Subscribed & Paid-up Capital:

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

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	100.000	100.000	70.000
(b) Reserves & Surplus	133.885	95.371	56.880
(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)	233.885	195.371	126.880
(3) Non-Current Liabilities
(a) long-term borrowings	162.365	149.891	64.608
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	187.607
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	162.365	149.891	252.215
(4) Current Liabilities
(a) Short term borrowings	240.167	95.442	248.297
(b) Trade payables	572.226	463.113	0.000
(c) Other current liabilities	14.023	25.031	31.662
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	826.416	583.586	279.959
TOTAL	1222.666	928.848	659.054
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	192.512	146.203	117.947
(ii) Intangible Assets	0.000	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	3.516	3.506	3.079
(e) Other Non-current assets	0.000	0.000	0.325
Total Non-Current Assets	196.028	149.709	121.351
(2) Current assets
(a) Current investments	108.677	246.773	0.740
(b) Inventories	485.128	307.723	383.994
(c) Trade receivables	367.234	195.829	144.041
(d) Cash and cash equivalents	6.293	3.415	3.184
(e) Short-term loans and advances	58.847	24.864	5.744
(f) Other current assets	0.459	0.535	0.000
Total Current Assets	1026.638	779.139	537.703
TOTAL	1222.666	928.848	659.054

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	8147.108	8765.213	5398.610
		Other Income	0.000	0.000	0.000
		TOTAL (A)	8147.108	8765.213	5398.610
Less	EXPENSES
		Cost of Materials Consumed	7822.867	8423.349	5203.316
		Purchases of Stock-in-Trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(26.136)	(1.775)	(0.765)
		Employees benefits expense	12.833	8.965	8.700
		Other expenses	237.286	249.602	124.865
		TOTAL (B)	8046.850	8680.141	5336.116
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)		100.258	85.072	62.494
Less	FINANCIAL EXPENSES (D)		40.700	34.422	39.785
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		59.558	50.650	22.709
Less/ Add	DEPRECIATION/ AMORTISATION (F)		9.531	6.701	6.459
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		50.027	43.949	16.250
Less	TAX (H)		11.513	5.458	2.073
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		38.514	38.491	14.177
	Earnings Per Share (Rs.)		3.85	4.00	2.00

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.47	0.44	0.26
Operating Profit Margin (PBIDT/Sales)	(%)	1.23	0.97	1.16
Return on Total Assets (PBT/Total Assets}	(%)	4.09	4.73	2.47
Return on Investment (ROI) (PBT/Networth)		0.21	0.22	0.13
Debt Equity Ratio (Total Debt /Networth)		1.72	1.26	2.47
Current Ratio (Current Asset/Current Liability)		1.24	1.34	1.92

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	70.000	100.000	100.000
Reserves & Surplus	56.880	95.371	133.885
Net worth	126.880	195.371	233.885
long-term borrowings	64.608	149.891	162.365
Short term borrowings	248.297	95.442	240.167
Total borrowings	312.905	245.333	402.532
Debt/Equity ratio	2.466	1.256	1.721

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from Operations	5398.610	8765.213	8147.108
		62.361	(7.052)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from Operations	5398.610	8765.213	8147.108
Profit	14.177	38.491	38.514
	0.26%	0.44%	0.47%

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

UNSECURED LOAN

Particular	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances from directors	80.673	75.566
Total	80.673	75.566

INDEX OF CAHREGS:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10474588	08/01/2014	910,000,000.00	PNB INVESTMENT SERVIC LIMITED - SECURITY TRSTEE OF BOI  CONST BOI AND BOB	MOTOR SALES AND SERVICES BUILDING, NR RBI ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA	B95080321
2	10366839	21/01/2014 *	910,000,000.00	PNB INVESTMENT SERVIC LIMITED - SECURITY TRSTEE OF BOI  CONST BOI AND BOB	MOTOR SALES AND SERVICES BUILDING, NR RBI ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA	B95445417

* Date of charge modification

FIXED ASSETS:

• Land
• Building
• Factory building
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Motor vehicles
• Furniture and fixtures

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.62.26
UK Pound	1	Rs.92.49
Euro	1	Rs.66.99

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KRN
Report Prepared by :	MTN

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
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.