MIRA INFORM REPORT

Report No. :	352513
Report Date :	01.12.2015

IDENTIFICATION DETAILS

Name :	RUHATIYA AGRO PRIVATE LIMITED
Registered Office :	Kirana Bazar, Akola-444001, Maharashtra
Tel. No.:	Not Available
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	09.08.1996
Com. Reg. No.:	11-101781
Capital Investment / Paid-up Capital :	Rs. 0.800 Million
CIN No.: [Company Identification No.]	U01100MH1996PTC101781
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCR9465J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Cotton Yarn and also Trader of Packing Material. (Registered Documents)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (19)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was incorporated in the year 1996, having moderate track record. The rating is constrained on company’s weak operational profile marked by continuous losses from its business activities. Rating is further constrained on company’s accumulated losses over the past two years which has fully errored the net worth of the company in the FY – 15. The rating also takes into accounts on drastic decline into its sales turnover from its previous FY – 14. The rating weakness is partially offsets on company’s long track record and experience of the promoters in its business. However, business is active. Payment terms are reported to be slow. In view of aforesaid, the company can be considered for business dealings on fully safe and secure trade 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 – 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

NOT AVAILABLE

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 31-03-2015.

LOCATIONS

Registered Office :	Kirana Bazar, Akola-444001, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	companyclient007@gmail.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Ajayprakash Kaluram Agrawal

Designation :

Whole-time director

Address :

New Radhakisan Plots, Akola-444001, Maharashtra, India

Date of Birth/Age :

17.07.1969

Date of Appointment :

15.03.2008

DIN No.:

00760172

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	U01110MH1984PTC034238	RUHATIYA COTTON AND METAL PRIVATE LIMITED	Whole-time director	15/03/2008	10/10/1984	Active	NO
2	U17110MH1996PTC098698	RUHATIYA SPINNERS PRIVATE LIMITED	Whole-time director	15/03/2008	08/04/1996	Active	NO
3	U01100MH1996PTC101781	RUHATIYA AGRO PRIVATE LIMITED	Whole-time director	15/03/2008	09/08/1996	Active	NO
4	U15400MH2014PTC254241	KALURAM FOOD PRODUCTS PRIVATE LIMITED	Director	13/03/2014	13/03/2014	Active	NO

Name :

Mr. Sanjayprakash Kaluram Ruhatiya

Designation :

Whole-time director

Address :

New Radhakisan Plot, Akola-444001, Maharashtra, India

Date of Birth/Age :

13.01.1966

Date of Appointment :

15.03.2008

DIN No.:

00763855

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	U01110MH1984PTC034238	RUHATIYA COTTON AND METAL PRIVATE LIMITED	Whole-time director	15/03/2008	10/10/1984	05/10/2010	Active	NO
2	U17110MH1996PTC098698	RUHATIYA SPINNERS PRIVATE LIMITED	Whole-time director	15/03/2008	08/04/1996	21/08/2012	Active	NO
3	U01100MH1996PTC101781	RUHATIYA AGRO PRIVATE LIMITED	Whole-time director	15/03/2008	09/08/1996	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Ajayprakash Kaluram Agrawal	1150
Sanjayprakash Kaluram Ruhatiya	1150
Kaluram Ramakrishan Ruhatiya	1000
Omprakash Kaluram Ruhatiya	1140
Shivprakash Kaluram Ruhatiya	1140
Shivprakash Kaluram Agarwal	1140
Vijayprakash Kaluram Agarwal	1140
Kaluram Ramkisan Ruhatiya(HUF)	140
Total	8000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total

BUSINESS DETAILS

Line of Business :

Manufacturer of Cotton Yarn and also Trader of Packing Material. (Registered Documents)

Products :

ITC Code No.	Product Descriptions
5207	Cotton Yarn (Other than Sewing)

Brand Names :

--

Agencies Held :

--

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

· Shri Ishwar Trading Co

· Manjeet Cotton Private Limited

· Kamlesh Company

· Krishna Enterprises

· D.P. Rolling Private Limited, Sanyalkha

Customers :

Wholesalers, Retailers, End Users OEMs

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

· Patwari Textile Co. Limited

· Shanti Traders

· Soubhik Exports Limited

· Yash Industries

· Prottex Engineers

No. of Employees :

Not Available

Bankers :

Bank Name:	Not Available
Branch:	Not Available
Person Name (With Designation):	Not Available
Contact Number:	Not Available
Name Of Account Holder:	Not Available
Account Number:	Not Available
Account Since (Date/ Year Of A/C Opening):	Not Available
Average Balance Maintained (Optional):	Not Available
Credit Facilities Enjoyed (Cc/Od/Term Loan):	Not Available
Account Operation:	Not Available
Remarks:	Not Available

· The Akola Urban Cooperative Bank Limited

Jankalyan, Toshniwal Layout, Akola-444001, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2015 (Rs. In Million)	31.03.2014 (Rs. In Million)
SHORT TERM BORROWINGS
Cash Credit Limit from Akala Urban Co-Operative Bank Limited	0.000	24.104
Total	0.000	24.104

Banking Relations :	--
Auditors :
Name :	B M Agrawal and Associates Chartered Accountants
Address :	1st Floor, Nishant Tower, M G Road, Akola-444001, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAYPA2141G
Memberships :	--
Collaborators :	--
Associates Concern :	· Narmada Solvex Private Limited · Ruhatiya Spinners Limited

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
16,000	Equity Shares	Rs. 100/- each	Rs. 1.600 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8,000	Equity Shares	Rs. 100/- each	Rs. 0.800 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.800	0.800	0.800
(b) Reserves & Surplus	(3.686)	(0.625)	2.338
(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)	(2.886)	0.175	3.138
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	18.226	28.299	22.702
(b) Trade payables	0.940	1.990	3.039
(c) Other current liabilities	0.108	0.135	1.076
(d) Short-term provisions	0.110	0.143	0.017
Total Current Liabilities (4)	19.384	30.567	26.834
TOTAL	16.498	30.742	29.972
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.234	12.403	14.848
(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	2.001	2.001	2.001
(c) Deferred tax assets (net)	1.468	1.401	0.826
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	1.252	1.253	0.000
Total Non-Current Assets	11.955	17.058	17.675
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.654	9.169	7.626
(c) Trade receivables	0.582	1.194	1.771
(d) Cash and cash equivalents	0.104	3.104	1.311
(e) Short-term loans and advances	0.003	0.017	0.158
(f) Other current assets	0.200	0.200	1.431
Total Current Assets	4.543	13.684	12.297
TOTAL	16.498	30.742	29.972

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Revenue from Operations	5.122	65.550
		Other Income	1.551	0.092
		TOTAL (A)	6.673	65.642	26.493
Less	EXPENSES
		Cost of Materials Consumed	0.000	36.723
		Purchases of Stock-in-Trade	0.000	14.560
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	5.482	(2.759)
		Employees benefits expense	0.251	5.232
		Other expenses	0.901	8.442
		TOTAL (B)	6.634	62.198	25.263
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.039	3.444	(Including Financial Expenses)
Less	FINANCIAL EXPENSES (D)		0.987	3.430
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.948)	0.014	1.230
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.180	3.539	1.140
	PROFIT BEFORE TAX (E-F) (G)		(3.128)	(3.525)	0.090
Less	TAX (H)		(0.067)	(0.562)	(0.023)
	PROFIT AFTER TAX (G-H) (I)		(3.061)	(2.963)	0.113
	Earnings Per Share (Rs.)		(382.57)	(370.39)	14.13

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	0.000	0.000	NA
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	(59.76)	(4.52)	NA
Operating Profit Margin (PBDIT/Sales)	(%)	0.76	5.25	NA
Return on Total Assets (PBT/Total Assets}	(%)	(24.01)	(12.89)	0.33
Return on Investment (ROI) (PBT/Networth)		1.08	(20.14)	0.03
Debt Equity Ratio (Total Debt/Networth)		(6.32)	161.71	7.23
Current Ratio (Current Asset/Current Liability)		0.23	0.45	0.46

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.800	0.800	0.800
Reserves & Surplus	2.338	(0.625)	(3.686)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	3.138	0.175	(2.886)
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	22.702	28.299	18.226
Total borrowings	22.702	28.299	18.226
Debt/Equity ratio	7.235	161.709	(6.315)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	26.493	65.642	6.673
		147.771	(89.834)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	26.493	65.642	6.673
Profit	0.113	(2.963)	(3.061)
	0.43%	(4.51%)	(45.87%)

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	No
8	Designation of contact person	No
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	Yes
18	Major suppliers	Yes
19	Major customers	Yes
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	No
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90244335	10/10/2006 *	15,000,000.00	THE AKOLA URBAN COOPERATIVE BANK LIMITED	JANKALYAN, TOSHNIWAL LAYOUT, AKOLA-  444001, MAHARASHTRA, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2015 (Rs. In Million)	31.03.2014 (Rs. In Million)
SHORT TERM BORROWINGS
From Associate Concern	18.226	4.195
Total	18.226	4.195

REVIEW OF BUSINESS OPERATIONS AND FUTURE PROSPECTS:

During the year the company is able to achieve turnover of Rs. 6.673 Million as compare to Rs. 65.642 Million in the last year. The expenses for the year is Rs. 9.801 Million which was last year Rs. 69.167 Million. The loss for the period is Rs. (3.128) Million compare to last year which was Rs. (3.525) Million.

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Machinery

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 66.81
UK Pound	1	Rs. 100.37
Euro	1	Rs. 70.68

INFORMATION DETAILS

Analysis Done by :	KAS
Report Prepared by :	IND

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
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	2
--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		19

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.