MIRA INFORM REPORT

Report No. :	336954
Report Date :	18.08.2015

IDENTIFICATION DETAILS

Name :	SHIV SHANKAR AND COMPANY GRAINS PRIVATE LIMITED
Registered Office :	Room No. 101, First Floor, Property No. 3997-98, Naya Bazar, Delhi-110006
Tel. No.:	91-11-27313845
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.04.2011
Com. Reg. No.:	55-216861
Capital Investment / Paid-up Capital :	Rs. 24.550 Million
CIN No.: [Company Identification No.]	U15132DL2011PTC216861
IEC No.:	0511091273
TAN No.: [Tax Deduction & Collection Account No.]	DELS46450F
PAN No.: [Permanent Account No.]	AAPCS5781A
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of Grain and Pulses.
No. of Employees :	45 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 109000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a private limited company having moderate track. Rating takes into consideration weak financial risk profile of the company marked by highly leveraged capital structure and less reserves. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 Ratings=B
Rating Explanation	Risk prone credit quality and carries very high credit risk
Date	05.09.2014

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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. R.K. Karwa
Designation :	Chartered Accountant
Contact No.:	91-11-27313848
Date :	17.08.2015

LOCATIONS

Registered Office :	Room No. 101, First Floor, Property No. 3997-98, Naya Bazar, Delhi-110006, India
Tel. No.:	91-11-27313845/ 43506974
Fax No.:	Not Available
E-Mail :	hrgk4085@gmail.com
Location :	Owned
Locality :	Industrial
Warehouse :	Located at: · Alipur, Delhi, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Gauri Shankar Bansal

Designation :

Director

Address :

A-23, A-Block Ashok Vihar Ph-I, Delhi-110052, Delhi, India

Date of Appointment :

30.09.2014

DIN No.:

02828259

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	U01403DL2009PTC196239	HG AGRO FOODS PRIVATE LIMITED	Director	20-11-2009	20-11-2009	11-03-2015	Active	NO
2	U74999HR2012PTC046549	JAI GURUDEV GLOBAL INDIA PRIVATE LIMITED	Director	04-02-2014	04-02-2014	-	Active	NO
3	U15132DL2011PTC216861	SHIV SHANKAR AND COMPANY GRAINS PRIVATE LIMITED	Director	30-09-2014	14-07-2014	-	Active	NO
4	U51909DL2011PTC215215	GC TRADEX PRIVATE LIMITED	Director	30-09-2014	30-09-2014	-	Active	NO

Name :

Mr. Shiv Shankar Bansal

Designation :

Director

Address :

A 23, Ashok Vihar Phase-1 Block A Wazirpur, Delhi-110052, Delhi, India

Date of Appointment :

01.04.2011

DIN No.:

03452120

KEY EXECUTIVES

Name :	Mr. R.K. Karwa
Designation :	Chartered Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Shiv Shankar Bansal	1310000
Manjula Bansal	250000
HG Agro Foods Private Limited, India	550000
Shiv Shankar Bansal HUF	70000
Gopal Bansal	25000
Pinkcity Duplux Private Limited, India	50000
Jai Gurudev Global India Private Limited, India	200000
Total	2455000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	32.50
Directors or relatives of directors	64.60
Other top fifty shareholders	2.90
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading of Grain and Pulses.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	--
Countries :	--
Imports :
Products :	Pulses
Countries :	· China · Canada
Terms :
Selling :	Cash, Advance Payment and Cheque
Purchasing :	Cash, Advance Payment and Cheque

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 :

Retailers, End Users and OEMs

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 :

45 (Approximately)

Bankers :

Bank Name:	Kotak Mahindra Bank Limited
Branch:	1893, FF, Opposite Daribakalan, Delhi, Delhi-110006 , 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

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Cash Credit Limit	96.007	96.734
F.L.C Limit/ Buyer Credit Facility	33.184	6.564
Total	129.191	103.298

Banking Relations :	--
Auditors :
Name :	R.K. Karwa and Associates Chartered Accountants
Address :	KD, 266, Pitampura, Delhi-110034, India
Tel. No.:	91-11-27313845/ 27317601
Fax No.:	91-11-27317585
E-Mail :	rkk@karwaassociates.com
Income-tax PAN of auditor or auditor's firm :	AAMFR2950G
Memberships :	--
Collaborators :	--
Related Parties :	· H G Agro Private Limited Rai Industrial, Sonipat, Haryana, India

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital : Rs. 40.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 32.793 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs. 10/- each	Rs. 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2455000	Equity Shares	Rs. 10/- each	Rs. 24.550 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	24.550	19.550	9.550
(b) Reserves & Surplus	13.425	6.495	0.636
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	1.000	5.050
Total Shareholders’ Funds (1) + (2)	37.975	27.045	15.236
(3) Non-Current Liabilities
(a) Long-term borrowings	20.373	19.889	19.228
(b) Deferred tax liabilities (Net)	0.009	0.006	0.003
(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)	20.382	19.895	19.231
(4) Current Liabilities
(a) Short term borrowings	129.191	103.298	75.708
(b) Trade payables	6.910	20.667	25.401
(c) Other current liabilities	1.506	0.400	0.132
(d) Short-term provisions	0.860	0.602	0.281
Total Current Liabilities (4)	138.467	124.967	101.522
TOTAL	196.824	171.907	135.989
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.083	0.034	0.041
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.050	0.014	0.025
Total Non-Current Assets	0.133	0.048	0.066
(2) Current assets
(a) Current investments	0.000	0.000	0.033
(b) Inventories	108.277	80.149	110.826
(c) Trade receivables	59.078	87.216	21.480
(d) Cash and cash equivalents	24.419	1.529	2.176
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	4.917	2.965	1.408
Total Current Assets	196.691	171.859	135.923
TOTAL	196.824	171.907	135.989

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operation	961.397	806.770	137.672
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		2.795	1.965	0.920
Less	TAX		0.865	0.606	0.284
	PROFIT AFTER TAX		1.930	1.359	0.636
	Earnings Per Share (Rs.)		0.79	0.70	0.67

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.20	0.17	0.46
Return on Total Assets (PBT/Total Assets}	(%)	1.42	1.14	0.68
Return on Investment (ROI) (PBT/Networth)		0.07	0.07	0.06
Debt Equity Ratio (Total Liability/Networth)		3.94	4.55	6.23
Current Ratio (Current Asset/Current Liability)		1.42	1.38	1.34

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

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	9.550	19.550	24.550
Reserves & Surplus	0.636	6.495	13.425
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	5.050	1.000	0.000
Net worth	15.236	27.045	37.975
Long-term borrowings	19.228	19.889	20.373
Short term borrowings	75.708	103.298	129.191
Total borrowings	94.936	123.187	149.564
Debt/Equity ratio	6.231	4.555	3.938

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 Operation	137.672	806.770	961.397
		486.009	19.166

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 Operation	137.672	806.770	961.397
Profit	0.636	1.359	1.930
	0.46%	0.17%	0.20%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	No
10	Date of Birth of Proprietor / Partners / Directors	No
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10335584	18/11/2014 *	290,000,000.00	ING VYSYA BANK LIMITED	1893, FF,, OPP DARIBAKALAN,, DELHI, DELHI - 110006 , INDIA	C41460874

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
From Shareholders, Directors and their Relatives	18.812	19.328
From Others	1.561	0.561
Total	20.373	19.889

FIXED ASSETS:

Tangible Assets

· Weighing Scale

· Mobile Phones

· Computer and Printer

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. 65.22
UK Pound	1	Rs. 102.23
Euro	1	Rs. 72.39

INFORMATION DETAILS

Information Gathered by :	MAN
Analysis Done by :	KIN
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	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	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		29

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.