MIRA INFORM REPORT

Report No. :	336985
Report Date :	19.08.2015

IDENTIFICATION DETAILS

Name :	SHRIDHAR INDUSTRIES KATNI PRIVATE LIMITED
Registered Office :	Kripa Niwas, Sureka Compound, Mahatma Gandhi Ward, Katni – 483501, Madhya Pradesh
Tel. No.:	91-7622-240552
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	13.08.2008
Com. Reg. No.:	021043
Capital Investment / Paid-up Capital :	Rs.2.832 Million
CIN No.: [Company Identification No.]	U15313MP2008PTC021043
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is engaged in the business of trading and processing of pulses like Masoor Dall.
No. of Employees :	Information declined by the management.

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 90000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. For the financial year ended 2014, the company has below average operational performance with low profitability margins. Further, the rating remain constrained on account of company’s moderate financial risk profile marked by low networth base and leverage balance sheet profile of the company. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. In view of the aforesaid, 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	ICRA
Rating	Long term bank facilities : B+
Rating Explanation	Risk prone credit quality and carries very high credit risk.
Date	June, 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 31-03-2013.

INFORMATION DENIED BY

Name :	Mr. Ram Hit Soni
Designation :	Director
Contact No.:	91-9425150561
Date :	17.08.2015

LOCATIONS

Registered Office :	Kripa Niwas, Sureka Compound, Mahatma Gandhi Ward, Katni – 483501, Madhya Pradesh, India
Tel. No.:	91-7622-240552
Mobile No.:	91-9425150561 (Mr. Ram Hit Soni)
Fax No.:	Not Available
E-Mail :	rchamadia@yahoo.com arun.sonishrijee@gmail.com
Factory :	Paharua, Katni, Madhya Pradesh, India

DIRECTORS

AS ON 30.09.2014

Name :	Mathura Prasad Soni
Designation :	Director
Address :	Kripa Niwas, Surekha Compound Mahatma Gandhi Ward, Near Jain Mandir, Katni - 483501, Madhya Pradesh, India
Date of Birth/Age :	24.06.1955
Date of Appointment :	13.08.2008
DIN No.:	02237120
Name :	Ram Hit Soni
Designation :	Director
Address :	Kripa Niwas, Surekha Compound Mahatma Gandhi Ward, Near Jain Mandir, Katni - 483501, Madhya Pradesh, India
Date of Birth/Age :	17.08.1977
Date of Appointment :	13.08.2008
DIN No.:	02237579
Name :	Arun Kumar Soni
Designation :	Director
Address :	Kripa Niwas Sureka Compound, Mahatma Gandhi Ward, Katni - 483501, Madhya Pradesh, India
Date of Birth/Age :	05.06.1980
Date of Appointment :	13.08.2008
DIN No.:	02237594

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Arun Kumar Soni	69000	24.36
Ram Hit Soni	59000	20.83
Mathura Prasad Soni	24000	8.47
Priyanka Soni	15000	5.30
Pooja SONI	22000	7.77
Gulab Devi SONI	22000	7.77
Shriniwas Warehouse and Agro Services, India	72000	25.42
Ram Hit Soni HUF	100	0.04
Mathura Prasad Soni HUF	100	0.04
Total	283200	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The Company is engaged in the business of trading and processing of pulses like Masoor Dall.
Products :	Pulses, Masoor Dall
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
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 :

Information declined by the management

Bankers :

Bank Name	Punjab National Bank
Branch	Station Road, Katni - 483501, Madhya 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 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

State Bank of India, Katni Main Branch, Near Kachahari, Hospital Road, Katni - 483501, Madhya Pradesh, India

State Bank of India, Main Branch Kachari Chouraha, Katni - 483501, Madhya Pradesh, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
Long-term Borrowings
Rupee term loans from Banks	0.984	1.183
Less : Current maturities	(0.984)	(1.183)
Short-term borrowings
Loans repayable on demand – from Bank
Working capital loan
Punjab National Bank – CC	57.857	36.567
Warehouse loan (Punjab National Bank)	0.000	6.058
Union Bank of India	0.000	3.296
Warehouse loan (Bank of Baroda)	4.994	0.000
Total	62.851	45.921

Auditors :
Name :	R Chamadia And Associates Chartered Accountants
Address :	1st Floor, Financial Avenue Hanumanganj Katni 483501 Madhya Pradesh
PAN No.:	AFPPC4597Q
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/- each	Rs.10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
283,200	Equity Shares	Rs.10/- each	Rs.2.832 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	2.832	2.832	2.832
(b) Reserves & Surplus	31.130	29.721	28.954
(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)	33.962	32.553	31.786
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	1.005	0.856	0.000
(c) Other long term liabilities	2.789	2.581	3.315
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	3.794	3.437	3.315
(4) Current Liabilities
(a) Short term borrowings	62.851	45.921	46.608
(b) Trade payables	6.046	7.583	2.244
(c) Other current liabilities	0.984	1.183	0.000
(d) Short-term provisions	0.225	0.410	0.605
Total Current Liabilities (4)	70.106	55.097	49.457
TOTAL	107.862	91.087	84.558
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9.918	10.121	8.624
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.432	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	0.294	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	10.644	10.121	8.624
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	62.605	59.695	58.321
(c) Trade receivables	16.771	17.176	15.840
(d) Cash and cash equivalents	6.253	1.563	0.642
(e) Short-term loans and advances	11.589	2.532	1.096
(f) Other current assets	0.000	0.000	0.035
Total Current Assets	97.218	80.966	75.934
TOTAL	107.862	91.087	84.558

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	357.402	284.310	254.872
	Other Income
	TOTAL	357.402	284.310	254.872
Less	EXPENSES
	TOTAL	347.264	277.229	247.022
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	10.138	7.081	7.850
Less	FINANCIAL EXPENSES	7.387	4.368	5.217
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	2.751	2.712	2.632
Less/ Add	DEPRECIATION/ AMORTISATION	0.494	0.469	0.465
	PROFIT/ (LOSS) BEFORE TAX	2.257	2.243	2.166
Less	TAX	0.504	0.552	0.560
	PROFIT/ (LOSS) AFTER TAX	1.753	1.691	1.606
	Earnings / (Loss) Per Share (Rs.)	6.19	5.97	--

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.984	1.183	0.000
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)	(%)	0.49	0.59	0.63
Operating Profit Margin (PBIDT/Sales)	(%)	2.84	2.49	3.08
Return on Total Assets (PBT/Total Assets}	(%)	2.10	2.46	2.56
Return on Investment (ROI) (PBT/Networth)		0.07	0.07	0.07
Debt Equity Ratio (Total Debt /Networth)		1.88	1.45	1.47
Current Ratio (Current Asset/Current Liability)		1.39	1.47	1.54

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	2.832	2.832	2.832
Reserves & Surplus	28.954	29.721	31.130
Share Application money pending allotment	0.000	0.000	0.000
Net worth	31.786	32.553	33.962
long-term borrowings	0.000	0.000	0.000
Short term borrowings	46.608	45.921	62.851
Current Maturities of Long Term Debt	0.000	1.183	0.984
Total borrowings	46.608	47.104	63.835
Debt/Equity ratio	1.466	1.447	1.880

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	254.872	284.310	357.402
		11.550	25.709

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	254.872	284.310	357.402
Profit	1.606	1.691	1.753
	0.63%	0.59%	0.49%

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	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
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)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
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	No
35	Negative Reporting by Auditors in the Annual Report	No

OPERATION

The Turnover of the company is Rs.357.402 Million.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10356188	11/06/2014 *	70,000,000.00	PUNJAB NATIONAL BANK	STATION ROAD, KATNI, MADHYA PRADESH - 483501, INDI  A	C06661821

* Date of charge modification

FIXED ASSETS

Tangible assets

• Mill Building
• Mill Machinery
• Mobile
• Mill Machinery (SortexUnit)
• Air Conditioner
• Electronic Weight Machine
• Generator
• Computer and Accessories
• Power Invertor and Battery
• Refrigerator
• Bag Closer
• Suzuki Access
• Electricity Sub Station
• Bajaj Discover
• Agnighamak Yantra
• Camera and Tools
• Fax Panasonic
• Furniture
• Moisture Meter
• Car Qualis
• Moter Cycle

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 :	PRT
Analysis Done by :	HNA
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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	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.