MIRA INFORM REPORT

Report No. :	317482
Report Date :	17.04.2015

IDENTIFICATION DETAILS

Name :	K.S. OVERSEAS PRIVATE LIMITED
Registered Office :	Near State Ware House, Taraoni – 132116, Haryana
Tel No :
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.04.2013
Com. Reg. No.:	05-048824
Capital Investment / Paid-up Capital :	Rs. 85.013 Million
CIN No.: [Company Identification No.]	U15122HR2013PTC048824
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	RTKK04345F
PAN No.: [Permanent Account No.]	AAFCK1177L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of premium quality Basmati Rice and Indian Basmati Rice
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 290000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. External Borrowings of the company also seems to be huge during 2014. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some cautions.

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 B+
Rating Explanation	Have risk prone – credit quality and carries very high credit risk
Date	13.02.2015

Rating Agency Name	CRISIL
Rating	Short Term Rating A4
Rating Explanation	Have degree of safety and carry very high credit risk.
Date	13.02.2015

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. Brij Bhushan Goyal
Designation :	Export Manager
Contact No.:	91-7206372521 / 9896352521 / 9896152521
Date :	15.04.2015

LOCATIONS

Registered Office / Factory :	Near State Ware House, Taraoni – 132116, Haryana, India
Tel. No.:	91-1745-242025
Mobile No.:	91-7206372521 / 9896352521 / 9896152521 (Mr. Brij Bhushan Goyal)
Fax No.:	91-1745-242521
E-Mail :	Ksgroups21@gmail.com
Website:	www.doublechabi1121basmatirice.com
Location :	Owned

DIRECTORS

As on : 30.09.2014

Name :	Mr. Pankaj Kumar
Designation :	Director
Address :	Satpal Brij Bhushan, Anaj Mandi, Taraori, Karnal – 132116, Haryana, India
Date of Birth/Age :	11.08.1975
Date of Appointment :	11.04.2013
PAN No.:	AHOPG6643G
DIN No.:	06475883
Name :	Mr. Jatinder Kumar
Designation :	Director
Address :	Anaj Mandi, Near Civil Hospital, VPO Taraori, Karnal – 132116, Haryana, India
Date of Birth/Age :	04.08.1982
Date of Appointment :	11.04.2013
PAN No.:	AYJPK0484D
DIN No.:	06475870
Name :	Ms. Minakshi Goel
Designation :	Director
Address :	H No. 4/1A, Near Civil Hospital, VPO Taraori, Karnal – 132116, Haryana, India
Date of Birth/Age :	21.04.1972
Date of Appointment :	11.04.2013
PAN No.:	AFJPG4314F
DIN No.:	06475877

KEY EXECUTIVES

Name :	Mr. Brij Bhushan Goyal
Designation :	Export Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Shares
Pankaj Kumar HUF	2668927
Jatinder Kumar HUF	3022606
SMT Minakshi Goel	2581491
SH Brij Bhushan Goel	56744
SMT Usha Rani	56744
SMT Vibha Rani	56744
SMT Vinita Goel	56744
Ayush Goel	100
Pushkar Goel	100
Akshat Goel	100
Rishab Goel	100
Pawni Goel	100
Harsh Goel	100
Khushi Goel	100
Mohak Goel	100
Parmod Goel	100
Ashok Kumar	100
Surender Kumar	100
Shamlal	100
Pawan Kumar Singla	100
Total	8501300

As on : 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	99.99
Others	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of premium quality Basmati Rice and Indian Basmati Rice
Products :	Premium Quality Basmati Indian Basmati Rice
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Basmati Rice
Countries :	Gulf Countries
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

400 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Taraoni, Karnal - 132116, Haryana, 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 Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged
	Not Divulged
Banker Name	Punjab National Bank
Branch Address	Taraoni, Karnal - 132116, Haryana, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014
LONG TERM BORROWING
Term loan from Bank	2.615
SHORT TERM BORROWING
Working capital loan from Bank	816.188
Total	818.803

Auditors :
Name :	Rajinder Kumar Garg and Company Chartered Accountant
Address :	1611, Sector – 13, Urban Estate, Karnal – 132001, Haryana, India
PAN No.:	AAMFR2416H
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8501300	Equity Shares	Rs.10/- each	Rs.85.013 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	85.013
(b) Reserves & Surplus	16.559
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	101.572
(3) Non-Current Liabilities
(a) long-term borrowings	17.699
(b) Deferred tax liabilities (Net)	0.407
(c) Other long term liabilities	178.542
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	196.648
(4) Current Liabilities
(a) Short term borrowings	816.188
(b) Trade payables	48.082
(c) Other current liabilities	16.073
(d) Short-term provisions	3.645
Total Current Liabilities (4)	883.988
TOTAL	1182.208
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	74.398
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	1.414
Total Non-Current Assets	75.812
(2) Current assets
(a) Current investments	0.000
(b) Inventories	857.393
(c) Trade receivables	207.345
(d) Cash and cash equivalents	4.542
(e) Short-term loans and advances	4.092
(f) Other current assets	33.024
Total Current Assets	1106.396
TOTAL	1182.208

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
		TOTAL INCOME	2263.839
Less	EXPENSES
		TOTAL	2176.844
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		86.995
Less	FINANCIAL EXPENSES		50.277
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		36.718
Less/ Add	DEPRECIATION/ AMORTISATION		9.116
	PROFIT/(LOSS) BEFORE TAX		27.602
Less	TAX		11.043
	PROFIT/(LOSS) AFTER TAX		16.559
	Earnings Per Share (Rs.)		1.95

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT/Sales)	(%)	0.73
Operating Profit Margin (PBITD/Sales)	(%)	3.84
Return on Total Assets (PBT/Total Assets}	(%)	2.33
Return on Investment (ROI) (PBT/Networth)		0.27
Debt Equity Ratio (Total Debt /Networth)		8.21
Current Ratio (Current Asset/Current Liability)		1.25

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one year	Yes
12]	Profitability for last one year	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	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	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	No

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014
LONG TERM BORROWING
Loans and Advances from related parties	15.084
Total	15.084

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10536590	21/11/2014	200,000,000.00	CENTAL BANK OF INDIA	g T road Near Bus Stand, karnal, Haryana - 132001,  INDIA	C36950756
2	10532042	30/10/2014	450,000,000.00	State Bank of India	SME Branch, Taraori, Karnal, Haryana - 132116, INDIA	C34108290
3	10454362	31/01/2015 *	833,000,000.00	PUNJAB NATIONAL BANK	RAILWAY ROAD, TARAORI, KARNAL, Haryana - 132116,  INDIA	C47338538

* Date of charge modification

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 registere 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.62.36
UK Pound	1	Rs.92.44
Euro	1	Rs.66.55

INFORMATION DETAILS

Information Gathered by :	RKH
Analysis Done by :	RSM
Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.