MIRA INFORM REPORT

Report No. :	318382
Report Date :	23.04.2015

IDENTIFICATION DETAILS

Name :		AVANTI FEEDS LIMITED
Registered Office :		H. No. 3, Plot No. 3, Baymount, Rushikonda, Vishakapatnam - 530045, Andhra Pradesh
Tel. No.:	91-40-23310260
Country :		India
Financials (as on) :		31.03.2014
Date of Incorporation :		06.01.1993
Com. Reg. No.:		01-095778
Capital Investment / Paid-up Capital :		Rs. 90.830 Million
CIN No.: [Company Identification No.]		L16001AP1993PLC095778
TAN No.: [Tax Deduction & Collection Account No.]		Not Available
PAN No.: [Permanent Account No.]		Not Available
Legal Form :		A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :		Manufacturer of Shrimp and Fish Feed and also Processor and Exporter of Shrimps.
No. of Employees :		Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 2600000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having good track record. The rating reflects company sound financial risk profile marked by healthy net worth position and decent profitability of the company. Share price are quoted high on stock exchange. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealing at usual 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 – 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 = BBB+
Rating Explanation	Moderate degree of safety and carry moderate credit risk.
Date	04.02.2014

Rating Agency Name	CRISIL
Rating	Short term Rating = A2
Rating Explanation	Strong degree of safety and carry low credit risk.
Date	04.02.2014

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 PARTED BY

Name :	Mr. Kuaza
Designation :	Export Executive
Contact No.:	91-40-23310260
Date :	20.04.2015

LOCATIONS

Registered Office :		H. No. 3, Plot No. 3, Baymount, Rushikonda, Vishakapatnam - 530045, Andhra Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	avantiho@avantifeeds.com
Website :	www.avantifeeds.com
Location :	Owned
Corporate Office :Office	G-2, Concorde Apartments, 6-3-658, Somajiguda, Hyderabad - 500082' Telangana, India
Tel. No.:	91- 40-23310260/ 23310261
Fax No.:	91- 40-23311604
Factory 1 :	No.15-11-24, Near Railway Station, Kovvur, W.G District- 534350, Andhra Pradesh, India
Tel No.:	91-8813-231541/ 231588
Fax No.:	91-8813-231421/ 231873
E-Mail :	feedunit1@avantifeeds.com
Factory 2 :	Gujarat Division: Block No.498/1 & 501, Pardi Nasik Road, Balda Village, Pardi Taluk, Valsad, District , Gujarat, India.
Tel No.:	91-260-2370055/ 2370064
Fax No.:	91-260-2370064
E-Mail :	avantithai@avantifeeds.com
Factory 3 :	Shrimp Feed Plant, Block No.498/1 & 501, Pardi-Nashik Road, Balda Village Pardi Taluk, Valsad District - 396125, Gujarat, India
Factory 4 :	Shrimp Shell Meal Plant, Velivennu Road, Samisragudem, Nidadavolu Mandal West Godavari District, Andhra Pradesh, India
Wind Mill :	Lakkihalli Village, Hiriyur Taluk, Chtradurga District, Karnataka, India
Export Division :	Gopalapuram Ravulapalem Mandal, E.G District- 533274, Andhra Pradesh, India
Tel No.:	91-8855-241570/ 241681
Fax No.:	91-8855-241680
E-Mail :	processplant@avantifeeds.com

DIRECTORS

AS ON 31.03.2014

Name :

A. Indra Kumar

Designation :

Chairman and Managing Director

Date of Birth/Age :

51 Years

Qualification :

B.E

Experience :

27 Years

Name :

C. Ramachandra Rao

Designation :

Joint Managing Director and Company Secretary

Date of Birth/Age :

61 Years

Qualification :

FCA, ACS and LLB

Experience :

38 Years

Name :

N. Ram Prasad

Designation :

Director

Name :

Anita Rajendra, IAS

Designation :

Nominee-APIDC

Name :

Bunluesak Sorajjakit

Designation :

Director

Name :

Wai Yat Paco Lee

Designation :

Director

Name :

Bolloju Vasanth Kumar

Designation :

Director

Date of Birth/Age :

29.05.1934

Qualification :

M.A., LL.B., IRS

Date of Appointment :

02.08.2014

DIN No.:

00532256

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	COMPANY/ LLP STATUS	DEFAULTING STATUS
1	L16001AP1993PLC095778	AVANTI FEEDS LIMITED	DIRECTOR	02-08-2014	26-09-2002	ACTIVE	NO
2	U74140KA2004PTC034270	LEGAL AND ACCOUNTING SERVICES PRIVATE LIMITED	DIRECTOR	05-07-2004	05-07-2004	CONVERTED TO LLP AND DISSOLVED	NO
3	AAA-7227	LEGAL AND ACCOUNTING SERVICES LLP	DESIGNATED PARTNER	09-12-2011	09-12-2011	ACTIVE	NO

Name :

Vedavyas Achar Alevoor

Designation :

Director

Date of Birth/Age :

22.03.1940

Qualification :

B.A.,B.Com., B.L., C.A.I.I.B.

Date of Appointment :

02.08.2014

DIN No.:

00325886

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	COMPANY/ LLP STATUS	DEFAULTING STATUS
1	U65910TG1982PLC003437	DANCAP CONSULTANTS LIMITED	DIRECTOR	10-03-1984	10-03-1984	ACTIVE	YES
2	U74999AP1984PLC005194	GOLKONDA HOSPITALITY SERVICES AND RESORTS LIMITED	DIRECTOR	12-12-1988	12-12-1988	ACTIVE	NO
3	L16001AP1993PLC095778	AVANTI FEEDS LIMITED	DIRECTOR	02-08-2014	07-04-1993	ACTIVE	NO

Name :

Surya Prakasa Rao Mulakala

Designation :

Director

Date of Birth/Age :

15.06.1953

Qualification :

B.E (Chemical Egg.) from IIT

Date of Appointment :

02.08.2014

DIN No.:

00482071

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	U40109TG1995PLC020411	SRIVATHSA POWER PROJECTS LIMITED	DIRECTOR	01-02-1999	01-02-1999	25-03-2008	ACTIVE	NO
2	U31200DL2005PLC133875	TEESTA URJA LIMITED	NOMINEE DIRECTOR	14-12-2009	11-03-2005	-	ACTIVE	NO
3	L16001AP1993PLC095778	AVANTI FEEDS LIMITED	DIRECTOR	02-08-2014	27-04-2005	-	ACTIVE	NO
4	U40101DL2005PLC141611	COUNTRYWIDE POWER TRANSMISSION LIMITED	DIRECTOR	17-10-2005	17-10-2005	-	ACTIVE	NO
5	U45201DL2005PTC141799	BISWAS BUILDCON PRIVATE LIMITED	DIRECTOR	17-10-2005	17-10-2005	03-03-2007	ACTIVE	NO
6	U45201DL2005PTC142310	HIGHTEC PROPCON PRIVATE LIMITED	ADDITIONAL DIRECTOR	13-03-2009	07-11-2005	18-04-2009	ACTIVE	NO
7	U74899DL2005PTC143357	ECO PROPCON PRIVATE LIMITED	DIRECTOR	06-12-2005	06-12-2005	19-02-2007	ACTIVE	NO
8	U40109DL2006PLC151871	TEESTAVALLEY POWER TRANSMISSION LIMITED	NOMINEE DIRECTOR	06-08-2008	10-08-2006	-	ACTIVE	NO
9	U74899DL2005PTC142308	CONCORD REALTOR PVT LTD	DIRECTOR	15-02-2007	15-02-2007	-	ACTIVE	NO
10	U40105DL2007PLC166628	ATHENA DEMWE POWER LIMITED	MANAGING DIRECTOR	25-09-2008	09-08-2007	14-07-2009	ACTIVE	NO
11	U40109DL2008PTC173228	ATHENA KYNSHI POWER PRIVATE LIMITED	DIRECTOR	28-01-2008	28-01-2008	-	ACTIVE	NO
12	U40109DL2008PTC174203	ATHENA EMRA POWER PRIVATE LIMITED	DIRECTOR	19-02-2008	19-02-2008	-	ACTIVE	NO
13	U31908AP2007PLC058993	ATHENA CHHATTISGARH POWER LIMITED	ADDITIONAL DIRECTOR	26-09-2008	26-09-2008	12-06-2009	ACTIVE	NO
14	U40108DL2003PTC120409	ATHENA INFRAPROJECTS PRIVATE LIMITED	MANAGING DIRECTOR	15-09-2010	16-10-2008	16-03-2015	ACTIVE	NO
15	U45201HR2006PTC036077	ECO CARE PROJECTS PRIVATE LIMITED	ADDITIONAL DIRECTOR	29-12-2008	29-12-2008	04-03-2009	ACTIVE	NO
16	U74140DL2004PTC128120	ATHENA PROJECTS PRIVATE LIMITED	DIRECTOR	02-09-2009	02-03-2009	16-03-2015	ACTIVE	NO
17	U45200DL2008PTC176095	CANDOR INFRATECH PRIVATE LIMITED	DIRECTOR	30-09-2010	24-08-2009	14-03-2011	ACTIVE	NO
18	U74210DL2007PTC160401	ATHENA ENERGY VENTURES PRIVATE LIMITED	DIRECTOR	21-05-2010	21-05-2010	18-03-2012	ACTIVE	NO
19	U40300DL2009PTC188690	APPL POWER PRIVATE LIMITED	DIRECTOR	26-09-2012	06-12-2011	-	ACTIVE	NO

Name :

Ramamohana Rao Kamireddy

Designation :

Director

Date of Birth/Age :

03.04.1950

Qualification :

B.Com.

Date of Appointment :

02.08.2014

DIN No.:

02384687

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	COMPANY/ LLP STATUS	DEFAULTING STATUS
1	U24110TG1983PTC003897	SRINIVASA CYSTINE PRIVATE LTD	DIRECTOR	15-06-1998	15-06-1998	ACTIVE	NO
2	L16001AP1993PLC095778	AVANTI FEEDS LIMITED	DIRECTOR	02-08-2014	26-09-1998	ACTIVE	NO
3	U74999TG1996PTC025736	SCL TRADING PRIVATE LIMITED	DIRECTOR	25-08-2003	25-08-2003	ACTIVE	NO
4	U24239TG1998PTC030063	SVIMSAN EXPORTS AND IMPORTS PRIVATE LIMITED	DIRECTOR	25-09-2003	25-09-2003	ACTIVE	NO

KEY EXECUTIVES

Name :		C. Ramachandra Rao
Designation :		Secretary
Name :	Mr. Kuaza
Designation :	Export Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.12.2014

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	1314187	14.47
Bodies Corporate	2696485	29.69
Sub Total	4010672	44.16
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	4010672	44.16
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	4200	0.05
Financial Institutions / Banks	3650	0.04
Central Government / State Government(s)	279211	3.07
Foreign Institutional Investors	242355	2.67
Sub Total	529416	5.83
(2) Non-Institutions
Bodies Corporate	267645	2.95
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	1279048	14.08
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	642671	7.08
Any Others (Specify)	2353590	25.91
Non Resident Indians	59371	0.65
Clearing Members	12177	0.13
Foreign Corporate Bodies	2282042	25.12
Sub Total	4542954	50.02
Total Public shareholding (B)	5072370	55.84
Total (A)+(B)	9083042	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	9083042	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Shrimp and Fish Feed and also Processor and Exporter of Shrimps.
Products/ Services :	--
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Shrimp Feed and Processor
Countries :	· UAE · Europe
Imports :	--
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
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers and Retailers

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	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 Name:	State Bank of India
Branch:	Sanajiguda, Hyderabad, Andhra Pradesh, 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:	Not Divulged

· Rabo Bank International

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Term Loan from State Bank of India	36.250	57.500
VEHICLE LOANS :
Volkswagen Finance Limited	3.409	0.000
ICICI Bank Limited	8.093	3.810
HDFC Bank Limited	3.808	0.034
SHORT TERM BORROWINGS
Working capital Loans from State Bank of India	416.133	462.842
Working Capital from Rabo Bank	5.031	0.000
Total	472.724	524.186
LONG-TERM BORROWINGS · The long term loan of Rs.93.500 Million was taken from State Bank of India, Industrial Finance Branch, Hyderabad for the implementation of shrimp feed manufacturing project at Gujarat. The loan is secured by first charge on fixed assets of the Company, pledge of 0.471 Million equity shares of the Company held by Mr. A. Indra Kumar, Pledge of 0.262 Million equity shares of the Company held by Sanjeeva Agro-vet Private Limited, Corporate Guarantee of Srinivasa Cystine Private Limited and Sanjeeva Agro-vet Private Limited, associate companies and personal guarantee of Mr. A.Indra Kumar, Chairman & Managing Director of the Company. · Vehicle loans are secured by hypothecation of respective vehicles. · Company had availed sales tax deferment scheme in 2001-02. Under the scheme, the sales tax collected from the customers from 2001-02 to 2004-05 was converted in to interest free loan for period of 14 years. The first instalment of the loan is due for payment in June, 2015. SHORT TERM BORROWINGS ; · Working Capital loans of Rs.416.133 Million was availed from State Bank of India, Industrial Finance Branch, Hyderabad. The loan is secured by first charge on all current assets, second charge on fixed assets, pledge of 4.74 lac equity shares of the Company held by Mr. A. Indra Kumar, Pledge of 2.67 lac equity shares of the Company held by Sanjeev Agro-vet Private Limited and personal guarantee of Mr. A. Indra Kumar, Chairman and Managing Director of the Company. · Working Capital loans of Rs.5.031 Million was availed from Rabo Bank International, Mumbai. The loan is secured by first charge on all current assets, second charge on fixed assets of the Company.

Banking Relations :	--
Auditors :
Name :	Karvy and Company Chartered Accountants
Address :	Bhooma Plaza, Street No. 4, Avenue 7, Banjara Hills, Hyderabad – 500031, Andhra Pradesh, India
Subsidiary ;	Svimsan Exports & Imports Limited
Associate Companies ;	· Srinivasa Cystine Private Limited · SCL Trading Private Limited · Thai Union Feed Mill Company Limited · Sanjeev Agro Vet Private Limited · Laxai-Avanti Life Sciences Private Limited · Sri Sai Srinivasa Agro Farms & Developers Private Limited
	·
Companies over which Significant Influence is exercised ;	· Srivathsa Power Projects Limited · Patikari Power Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,58,50,000	Equity Shares	Rs. 10/- each	Rs. 158.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
90,83,042	Equity Shares	Rs. 10/- each	Rs. 90.830 Million

Reconciliation of the shares outstanding at the beginning and at the end of the year

Particulars	31.03.2014
	No’s	Amount
Equity shares of Rs. 10/- each fully paid up At the beginning of the year	90,83,042	90.830
Changes during the year : In consequence to amalgamation of Avanti hai Aqua Feeds Private Limited with the Company shares issued to pursuant to Scheme of Amalgamation.	--	--
Outstanding at the end of the year	90,83,042	90.830

Terms/ Rights Attached To Equity Shares :

The Company has only one class of equity shares having par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

During the year ended March31, 2014 dividend recognised for distribution to equity share holders at Rs.15/- per share (March 31, 2013 - Rs. 6.50)

Details of shareholders holding more than 5% shares in the Company

Particulars	31.03.2014
	No's	Percentage of Holding
Srinivasa Cystine Private Limited	22,78,577	25.09
Thai Union Frozen Products PCL, Thailand	22,82,042	25.12
Alluri Indra Kumar (HUF)	5,45,950	6.01
Andhra Pradesh Industrial Development Corporation Limited	4,46,197	4.91
Alluri Indra Kumar	5,43,380	5.98

As per of the Company, including its register of shareholders/ members and other declaration received from shareholders regarding beneficial interest, the above shareholding represent both legal and beneficial ownership of shares.

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	90.830	90.830	90.830
(b) Reserves & Surplus	1645.881	1107.782	874.941
(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)	1736.711	1198.612	965.771
(3) Non-Current Liabilities
(a) Long-term borrowings	109.516	119.300	146.227
(b) Deferred tax liabilities (Net)	14.348	10.000	9.910
(c) Other long term liabilities	27.450	15.450	11.950
(d) long-term provisions	29.236	14.590	15.628
Total Non-current Liabilities (3)	180.550	159.340	183.715
(4) Current Liabilities
(a) Short term borrowings	421.164	462.842	327.844
(b) Trade payables	819.250	197.900	122.464
(c) Other current liabilities	577.130	295.300	164.459
(d) Short-term provisions	189.568	105.700	70.772
Total Current Liabilities (4)	2007.112	1061.742	685.539
TOTAL	3924.373	2419.694	1835.025
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	773.925	507.116	429.219
(ii) Intangible Assets	1.156	1.361	1.679
(iii) Capital work-in-progress	48.118	15.864	16.713
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	284.854	284.854	284.854
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	31.310	49.832	18.052
(e) Other Non-current assets	11.328	9.407	7.205
Total Non-Current Assets	1150.691	868.434	757.722
(2) Current assets
(a) Current investments	50.211	2.515	172.762
(b) Inventories	1991.468	971.621	421.526
(c) Trade receivables	450.192	397.263	155.051
(d) Cash and cash equivalents	137.110	85.808	220.423
(e) Short-term loans and advances	55.324	31.187	52.221
(f) Other current assets	89.377	62.866	55.320
Total Current Assets	2773.682	1551.260	1077.303
TOTAL	3924.373	2419.694	1835.025

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	11316.067	6480.377	3934.148
		Other Income	36.814	25.805	33.528
		TOTAL (A)	11352.881	6506.182	3967.676
Less	EXPENSES
		Cost of Materials Consumed	8824.005	5163.333	2679.699
		Purchases of Stock-in-Trade	0.000	0.000	69.568
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(126.253)	(193.569)	41.743
		Manufacturing Expenses	467.328	328.155	195.939
		Selling and Distribution Expenses	595.595	370.851	214.372
		Employees benefits expense	352.155	216.229	158.231
		Other expenses	97.892	84.978	131.067
		TOTAL (B)	10210.722	5969.977	3490.619
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1142.159	536.205	477.057
Less	FINANCIAL EXPENSES (D)		34.996	33.733	31.444
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1107.163	502.472	445.613
Less/ Add	DEPRECIATION/ AMORTISATION (F)		55.374	49.838	40.042
	PROFIT BEFORE TAX (E-F) (G)		1051.789	441.481	400.300
Less	TAX (H)		354.289	139.566	119.598
	PROFIT AFTER TAX (G-H) (I)		697.500	301.915	280.702
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	2503.955	1298.781	1080.710
	IMPORTS
		Capital Goods	97.926	32.481	31.558
		Raw Materials	169.980	146.514	105.611
		Spares and Consumables	34.015	27.076	17.932
		Shrimp Feed Imported for Trading	55.758	0.000	64.438
	TOTAL IMPORTS		259.753	173.590	187.981
	Earnings Per Share (Rs.)		76.79	33.24	30.90

The above information has been parted by Mr. Kuaza (Export Executive)

QUARTERLY RESULTS

PARTICULARS	30.06.2014	30.09.2014	31.12.2014
Type	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	4781.000	5316.800	3850.300
Total Expenditure	4381.700	4777.700	3343.800
PBIDT (Excl OI)	399.300	539.000	506.600
Other Income	12.400	25.700	36.800
Operating Profit	411.800	564.800	543.400
Interest	5.900	4.200	2.500
Exceptional Items	0.000	0.000	0.000
PBDT	405.800	560.600	540.900
Depreciation	20.300	21.900	23.400
Profit Before Tax	385.600	538.700	517.500
Tax	129.400	196.900	172.500
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	256.200	341.800	345.100
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	256.200	341.800	345.100

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	6.16	4.66	7.14
Operating Profit Margin (PBDIT/Sales)	(%)	10.09	8.27	12.13
Return on Total Assets (PBT/Total Assets}	(%)	26.80	20.83	21.81
Return on Investment (ROI) (PBT/Networth)		0.61	0.37	0.41
Debt Equity Ratio (Total Debt/Networth)		0.31	0.49	0.49
Current Ratio (Current Asset/Current Liability)		1.38	1.46	1.57

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	90.830	90.830	90.830
Reserves & Surplus	874.941	1107.782	1645.881
Net worth	965.771	1198.612	1736.711
Long-term borrowings	146.227	119.300	109.516
Short term borrowings	327.844	462.842	421.164
Total borrowings	474.071	582.142	530.680
Debt/Equity ratio	0.491	0.486	0.306

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)
Sales	3934.148	6480.377	11316.067
		64.721	74.621

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	3934.148	6480.377	11316.067
Profit	280.702	301.915	697.500
	7.14%	4.66%	6.16%

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	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	No
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	10482292	18/02/2014	200,000,000.00	RABOBANK INTERNATIONAL (COOPERATIVE CENTRAL RAIFFE  ISEN-BOERENLEENBANK B.A.)	FORBES BUILDING 2^ND FLOOR, 2/F, CHARANJIT RAI MAR  G, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA	B98381965
2	10267092	22/01/2011	93,600,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH,, RAJ BHAVAN ROAD, SOMA  JIGUDA,, HYDERABAD, ANDHRA PRADESH - 500082, INDIA	B05783451
3	10269979	22/01/2011	93,600,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH,, RAJBHAVAN ROAD, SOMAJ  IGUDA,, HYDERABAD, ANDHRA PRADESH - 500082, INDIA	B05782875
4	90139513	28/03/2008 *	102,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, SOMAJIGUDA, HYDERABAD,  ANDHRA PRADESH - 500082, INDIA	A35851385
5	90140354	05/02/2015 *	953,700,000.00	STATE BANK OF INDIA	STATE BANK OF INDIA, INDUSTRIAL FINANCE BRANCH, R  AJBHAVAN ROAD, SOMAJIGUDA, HYDERABAD, TELANGANA -  500082, INDIA	C45259165
6	90140341	10/01/2005	100,000,000.00	STATE BANK OF INDIA	IFB, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH, INDIA	-
7	90139224	17/07/2001 *	155,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJBHAVAN ROAD; SOMAJI  GUDA, HYDERABAD, ANDHRA PRADESH, INDIA	-
8	90140145	28/05/2001 *	155,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJBHAVAN ROAD; SOMAJI  GUDA, HYDERABAD, ANDHRA PRADESH, INDIA	-
9	90139151	25/11/2003 *	400,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJBHAVAN ROAD; SOMAJI  GUDA, HYDERABAD, ANDHRA PRADESH, INDIA	-
10	90140102	31/07/2002 *	143,500,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJBHAVAN ROAD; SOMAJI  GUDA, HYDERABAD, ANDHRA PRADESH, INDIA	-

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Deferred Payment Liability – Sales Tax	57.956	57.956
Total	57.956	57.956

FINANCIAL PERFORMANCE:

The profit for the year under consideration i.e. 2013-14, before depreciation, finance charges and tax is Rs.1142.159 Million as compared to a profit of Rs. 525.052 Million in the previous financial year. The profit for the year after tax is Rs.697.500 Million as against a profit of Rs.301.915 Million during the previous financial year. For the fourth consecutive year, there was overall increase in the shrimp culture both in terms of water spread area and stocking density, mainly because of success of continuous Vannamei shrimp culture. Remunerative international prices for shrimps has also encouraged new farmers in taking up the shrimp cultivation. The directors are glad to inform that your company's Shrimp Feed sales grew by 45%. The Company's high quality of shrimp feed and technical support to the farmers by educating them with best culture practices has made our feed one of the most preferred by the farmers. The year 2013-14 ended with shrimp feed sales at 1,49,891 MT, an increase of 46,903 MT as compared to previous financial year. The shrimp processing and export division sales recorded export of 3,289 MT in 2013-14 as against 2,551 MT in the previous year, registering an increase of 29%. The four windmills of your Company located in Karnataka State with a total capacity of 3.2 MW have generated 62.39 lac units as against 62.14 lac units generated during the previous year and power generated was sold to Karnataka Power Transmission Corporation Limited under PPA.

MANAGEMENT’S DISCUSSION AND ANALYSIS

CAVEAT:

In adherence to the spirit enunciated in the code of Corporate Governance approved by the Securities and Exchange Board of India. Though, utmost care has been taken to ensure that the opinions expressed by the Management herein contain its perceptions on most of the important trends having a material impact on the company's operations, no representation is made that the following presents an exhaustive coverage on and of all issues related to the same. Further, the discussion following herein reflects the perceptions on major issues as on date and the opinions expressed here are subject to change without notice. The Company undertakes no obligation to publicly update or revise any of the opinions or statements expressed in this report, consequent to new information, future event, or otherwise.

INDUSTRY OVERVIEW:

Indian seafood product exports during 2013-14 recorded major jump of 59% in value terms as compared to 2012-13. The exports were Rs.29,500 crores as against Rs.18,856 crores in 2012-13.

Shrimp exports accounted for 65% of the total sea food exports in value terms, an increase of 100% as compared to previous year. In the year 2012-13 the shrimp exports were Rs.9,608 crores. In the current year the shrimp exports are Rs.19,175 crores. In volume terms the shrimp exports grew by 33% from 2.26 lac MT in 2012-13 to 3.02 MT in 2013-14.

The major export market has been USA, Europe, Japan and South East Asia during 2013-14 for shrimp exports.

It is heartening to note that for the fourth consecutive year the shrimp culture industry registered growth during 2013-14. The growth in shrimp culture is due to continued changeover from Black Tiger shrimp cultivation to Vannamei Shrimp Culture supported by remunerative export prices during the year 2013-14. This trend is being continued during the current year also.

In order to ensure sustained growth of shrimp culture, with specific emphasis on Vannamei shrimp culture, the Government of India has initiated stringent regulatory measures such as mandatory approvals for setting up hatcheries, import of brood stock from specified approved overseas suppliers and continuous surveillance of Vannamei hatchery operations, mandatory approval of Vannamei farms, EIA Certification of shrimps at the time of harvest, etc. These measures would go a long way in long term success of Indian Shrimp Culture Industry.

OUTLOOK:

Feed Market:

Vannamei culture with higher stocking densities compared to Black Tiger species and increase in area of aquaculture is expected to result in increase of feed consumption consistently. Added to this remunerative export prices for shrimps, gradual increase in the domestic market the production of shrimps is expected to grow significantly resulting in increased demand for shrimp feed in future.

Processing & Export of Shrimp:

Similarly, with predominance of Vannmei shrimp culture, the volume of shrimp production will be increased significantly with higher utilization of processing capacity and increase in exports. The development of domestic market would also support exports in the long run. The cost of production of Vannamei shrimps is lower than the Black Tiger shrimps, which will have demand in both export market as well as domestic market.

POWER:

The Company has investment in the following power projects:

(a) The 3.2 MW Wind Mill Project in Chitradurg, Karnataka State is operational and has generated 6.239 Million units during the year.

(b) Srivathsa Power Projects Private Limited, a 17.2 MW gas based independent power project in which company holds 50% shares, is operational and has generated positive cash flows. The company generated 398.58 lac units yielding a gross sales income of Rs.132.112 Million and net profit of Rs.9.568 Million after charging off interest, depreciation & tax.

The GAIL, at par with other customers, has drastically reduced gas supply w.e.f. February,2012 resulting in significant fall in power generated by the Company from 105.770 lac units in 2011-12 to 39.858 Million units in 2013 14 units. However, Company has got additional sanction of 10500 SCMD gas from ONGC through open bidding process. It is expected that the additional gas will be available for consumption from June'14.

(c) Patikari Power Private Limited, the 16 MW Hydel Power Project in Himachal Pradesh with their investment of 25.88% as a joint venture project, was commissioned in February'08. During 2013-14 this project generated 64.870 Million salable energy units, yielding a gross sales income of Rs.146.605 Million and net profit of Rs.7.325 Million after charging interest, depreciation and tax.

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2014

(RS. IN MILLION)

SR. NO.	PARTICULARS	QUARTER ENDED		NINE MONTHS ENDED
		31.12.2014	30.09.2014	31.12.2014
		Unaudited	Unaudited	Unaudited
1	Income from Operations
	Net Sales/ Income from Operations
	Export Sales	444.799	905.635	2115.993
	Domestic Sales	3372.726	4350.963	11686.889
	Other Operating Income	32.812	60.170	145.212
	Total Income from Operations	3850.337	5316.768	13948.094
2	Expenses
	Cost of Materials Consumed	2896.774	4288.881	10888.545
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(40.547)	(183.188)	(120.230)
	Employees benefits expense	126.613	129.699	369.461
	Depreciation And Amortisation Expense	23.400	21.876	65.528
	Other expenditure	360.905	542.344	1365.358
	Total Expenses	3367.145	4799.612	12568.665
3	Profit from Operations Before Other Income, Finance Cost and Exceptional Items	483.192	517.156	1379.429
4	Other Income	36.828	25.723	74.971
5	Profit from Ordinary Activities Before Finance Costs and Exceptional Items	520.020	542.879	1454.400
6	Finance Costs	2.494	4.211	12.620
7	Profit from Ordinary Activities After Finance Costs and Before Exceptional Items	517.526	538.668	1441.780
8	Exceptional Items	0.000	0.000	0.000
9	Profit from Ordinary Activities Before Tax	517.526	538.668	336.686
10	Tax Expense	172.480	196.901	498.737
11	Profit from Ordinary Activities After Tax	345.046	341.767	943.043
12	Extra Ordinary Items	0.000	0.000	0.000
13	Net Profit for the Period	345.046	341.767	943.043
14	Paid up Equity Share Capital (Face Value of Rs. 10/- per Share)	90.830	90.830	90.830
15	Reserves Excluding Revaluation Reserves as per Balance Sheet of previous Accounting Year
16	Earnings per Share (EPS in Rs.)
	(Face value of Rs. 10/- per Share)
	(i) Before Extra-Ordinary Items (Basic and Diluted)	37.99	37.63	103.83
	(ii) After Extra Ordinary Items (Basic and Diluted)	37.99	37.63	103.83
A	PARTICULARS OF SHARE HOLDING
1	Public Shareholding
	Number of Share 9of Rs.10/- Per Share)	5072370	5059117	5072370
	Percentage of Shareholding	55.85%	55.70%	55.85%
2	Promoters and Promoters Group Shareholding:
	a) Pledged / Encumbered
	Number of Shares	736000	736000	736000
	Percentage of Shares	18.35%	18.29%	18.35%
	(as a % of the Total Shareholding of Promoter Group) Percentage of Shares (as a % of the Total Share Capital of the Company)	8.10%	8.10%	8.10%
	b) Non – Encumbered
	Number of Shares	3274672	3287925	3274672
	Percentage of Shares	81.65%	81.71%	81.65%
	(as a % of the Total Shareholding of Promoter Group) Percentage of Shares (as a % of the Total Share Capital of the Company)	36.05%	36.20%	36.05%

SR. NO.	PARTICULARS	QUARTER ENDED 31.12.2014
B	INVESTOR COMPLAINTS
	Pending at the beginning of the quarter	0
	Received During the Quarter	133
	Disposed off During the Quarter	133
	Remaining Unresolved at the end of the Quarter	0

NOTES:

1) The above audited results were reviewed by audit committee at its meeting held on 24.01.2015 and approved by the Board of Directors at its meeting held on 31.01.2015.

2) During the quarter ended 31.12.2014, 133 complaints were received from the investors and 133 were disposed off No complaints were pending as on 31.12.2014.

3) Previous period’s figures have been regrouped wherever necessary.

4) The difference in depreciation relating to post period as computed under the schedule II of Companies Act, 2013 would be adjusted against the opening reserves at the time of final closure of accounts for the year.

SEGMENT INFORMATION AS PER CLAUSE 41 OF THE LISTING AGREEMENT FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2014

(RS. IN MILLION)

SR. NO.	PARTICULARS	QUARTER ENDED		NINE MONTHS ENDED
		31.12.2014	30.09.2014	31.12.2014
		Unaudited	Unaudited	Unaudited
1	Segment Revenue
	a) Shrimp Feed	3370.712	4341.279	11672.584
	b) Shrimp Processing	477.611	965.805	2258.529
	c) Wind Power	2.014	9.684	16.981
	Gross Sales / Income from Operations	3850.337	5316.768	1394.8094
2	Segment results
	a) Shrimp Feed	442.748	424.916	1172.112
	b) Shrimp Processing	41.179	84.915	197.729
	c) Wind Power	(0.735)	7.325	9.588
	Total	483.192	517.156	1379.429
	Less : Interest	2.494	4.211	12.620
	Add : Un-Allocated Income Net of Un-Allocable Expenditure	36.828	25.723	74.971
	Total Profit / (Loss) Before Tax and Exceptional Income	517.526	538.668	1441.780
3	Capital Employed
	(Segment Assets-Segment Liabilities)
	a) Shrimp Feed	635.130	465.600	635.130
	b) Shrimp Processing	925.658	1144.742	925.658
	c) Wind Power	76.662	80.556	76.662
	d) Un-Allocated 9Assest – liabilities)	1086.904	716.005	1086.904
	Segment Capital Employed	2724.354	2406.903	2724.354

CONTINGENT LIABILITIES:

Particulars	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
Central Excise & Customs demand	299.918	299.918
Service Tax Demand	0.826	0.826
MP VAT demand for soya transactions in 2005-06	2.922	2.922
Income Tax demand	0.513	-
Electricity Duty	0.364	0.364

FIXED ASSETS:

· Free Hold Land

· Buildings

· Plant & Machinery

· Office Equipment

· Furniture & Fixtures

· Vehicles

· Computer Software

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. 62.82
UK Pound	1	Rs. 93.85
Euro	1	Rs. 67.59

INFORMATION DETAILS

Information Gathered by :	RKH
Analysis Done by :	DIV
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		53

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.