MIRA INFORM REPORT

Report No. :	351427
Report Date :	09.12.2015

IDENTIFICATION DETAILS

Name :	PR AGRO NUTRI PRIVATE LIMITED
Registered Office :	H.No. 7-1-396/2-8, G-1, Sai Keerthi Towers, Street No.3, B.K. Guda, Sanjeeva Reddy Nagar, Hyderabad – 500038, Telangana
Tel. No.:	91-40-23801288
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	29.05.2002
Com. Reg. No.:	36-039042
Capital Investment / Paid-up Capital :	Rs.7.000 Million
CIN No.: [Company Identification No.]	U24299TG2002PTC039042
IEC No.:	0902003020
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCP5170D
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in trading and importing of all kinds of fertilizers. (Registered activity)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 270000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2002 having satisfactory track. The company possesses an above average financial risk profile marked by healthy net worth base and decent liquidity profile of the company. The rating also takes into consideration good profit margin of the company. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct and as per commitments. In view of long standing record and acceptable financial base, the company can be considered normal for business dealings at usual trade 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 – 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 :	H.No. 7-1-396/2-8, G-1, Sai Keerthi Towers, Street No.3, B.K. Guda, Sanjeeva Reddy Nagar, Hyderabad – 500038, Telangana, India
Tel. No.:	91-40-23801288
Fax No.:	91-40-23801299
E-Mail :	pran_hd@yahoo.com ramaraju@pragro.com
Website :	http://www.pragro.com
Branch Office :	Located at : · Gujarat · Madhya Pradesh · West Bengal · Maharashtra · Andhra Pradesh · Karnataka · Kerala · Tamilnadu

DIRECTORS

As On : 29.09.2014

Name :

Mr. Dantuluri Venkata Rama Raju

Designation :

Managing Director

Address :

Plot No.1320, House No.8-3-319/8/9, IInd Floor, Yellareddyguda, Hyderabad - 500073, Telangana, India

Date of Birth/Age :

02.08.1963

Date of Appointment :

29.05.2002

DIN No.:

00208061

Name :

Mr. Samantapudi Satyanarayana Raju

Designation :

Director

Address :

HIG - 78, Andhra Pradesh Housing Board Colony, Bhimavaram - 534203, Andhra Pradesh, India

Date of Birth/Age :

15.06.1938

Date of Appointment :

29.05.2002

DIN No.:

00208208

Name :

Mr. Praveenkumar Katikaneni

Designation :

Whole-Time Director

Address :

501, Naatha Residency, Satyam Enclave East, Pet Bhasheerabad, Secunderabad - 500055, Telangana, India

Date of Birth/Age :

16.07.1960

Date of Appointment :

29.05.2002

DIN No.:

00208103

Name :

Mrs. Dantuluri Parvathi Devi

Designation :

Whole Time Director

Address :

Plot No.1320, House No.8-3-319/8/9, IInd Floor, Yellareddyguda, Hyderabad - 500073, Telangana, India

Date of Birth/Age :

06.08.1967

Date of Appointment :

01.06.2008

DIN No.:

00208141

Other Directorship :

Top of Form

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	U24299TG2002PTC039042	PR AGRO NUTRI PRIVATE LIMITED	Whole-time director	01/06/2008	29/05/2002	-	Active	NO

Bottom of Form

Name :

Mrs. Srilakshmi Katikaneni

Designation :

Whole-Time Director

Address :

501, Navyatha Residency, Satyam Enclave East, Pet Bhasheerabad, Secunderabad - 500055, Telangana, India

Date of Birth/Age :

30.08.1967

Date of Appointment :

29.05.2002

DIN No.:

00208193

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Shares
D V Rama Raju	183000
K Praveen Kumar	179500
S Satyanarayana Raju	11000
D Parvathi Devi	21000
K Sri Lakshmi	65500
Munmun Raut	5000
Battini Lakshmi	10000
Ganesh Sheshrao Mapari	10000
Anup Kumar Raut JN1: Munmun Raut	35000
Battini Vinay Kumar	20000
Sachin Kulkarni	6000
Sonali Kulkarni	5000
D V Krishna Varma JN1: Rama Devi	10000
Manoj Pal JN1: Sheetal Pal	10000
V V Satyavathi Dantuluri	10000
Radhika Raju Dantuluri	10000
Shanmukha Saravanan JN1: Vijaya Nirmala Saravanan	20000
Col. D Venkatapathi Raju	10000
Cheruvu Karuna	7500
Mullapudi Srinivas	12500
Degala Sri Devi	10000
Katikaneni Prateek	5000
Katikaneni Praneet	5000
D Subha Sree	6500
Vidya Ganesh Mapari	10000
S Vijaya Nirmala	10000
Shital Manoj Pal	10000
D Koteswara Rao	2500
Total	700000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in trading and importing of all kinds of fertilizers. (Registered activity)

Products :

Item Code No.	Product Description
99611720	Fertilizers

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Not Available

Purchasing :

Not Available

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

· HDFC Bank Limited, House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

· State Bank of India, Yellareddyguda Branch, Hyderabad.

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
SHORT-TERM BORROWINGS
Loans Repayable on Demand
Secured
From Banks	11.045	0.000
(Company has availed Cash Credit Loan of Rs.15.000 million and Foreign Letter of Credit of Rs.9.500 million from State Bank of India, Yellareddyguda Branch, Hyderabad. The Loan is Primarily Secured by Hypothecation of Stocks, Receivables, Book debts and other assets including Packing Material, further secured by Collateral Security, Equitable Mortgage of the Properties and Personnel Guarantees of Mr. D. Ventata Rama Raju, Managing Director, Mrs. K. Praveen Kumar Executive Director, Mrs. S. Satyannarayanna Raju, Mrs. D. Parvathi Devi and Mrs. K. Srilakshmi Directors of the Company and Mrs. S. Chandravati, Mr. NVSS Ravi Prasad and Mrs. K. Shantabai.
Car Loans
State Bank of Bank – Yellareddyguda	0.214	0.615
ICICI – Hyderabad	0.608	0.984
Total	11.867	1.599

Auditors :
Name :	P. R. Datla and Company Chartered Accountants
Address :	1^st Floor, 6-3-788/A/9, Durganagar Colony, Ameerpet, Hyderabad – 500016, Telangana, India
Tel. No.:	91-40-23408095
Fax No.:	91-40-23405014
E-Mail :	prdatlaandco@gmail.com
PAN No:	AADFP7077R
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As On :31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.10/- each	Rs.15.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs.10/- each	Rs.7.000 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	7.000	7.000	7.000
(b) Reserves & Surplus	87.475	68.409	56.580
(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)	94.475	75.409	63.580
(3) Non-Current Liabilities
(a) long-term borrowings	3.435	2.510	1.980
(b) Deferred tax liabilities (Net)	0.102	0.193	0.195
(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)	3.537	2.703	2.175
(4) Current Liabilities
(a) Short term borrowings	11.867	2.673	4.078
(b) Trade payables	41.559	44.547	36.444
(c) Other current liabilities	2.348	2.022	1.603
(d) Short-term provisions	32.044	21.579	35.185
Total Current Liabilities (4)	87.818	70.821	77.310
TOTAL	185.830	148.933	143.065
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.565	3.194	3.642
(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	17.333	8.833	20.334
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	19.898	12.027	23.976
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	90.762	84.184	51.121
(c) Trade receivables	35.884	37.263	32.598
(d) Cash and cash equivalents	38.512	14.879	34.892
(e) Short-term loans and advances	0.774	0.580	0.478
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	165.932	136.906	119.089
TOTAL	185.830	148.933	143.065

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Revenue from operations	436.758	337.272
		Other Income	0.239	1.155
		TOTAL (A)	436.997	338.427	280.534
Less	EXPENSES
		Purchase	309.393	273.630
		(Increase) / Decrease in Stock	(6.577)	(33.063)
		Employee benefits expenses	19.479	17.012
		Other expenses	79.111	55.433
		TOTAL (B)	401.406	313.012	257.671
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		35.591	25.415	22.863
Less	FINANCIAL EXPENSES (D)		2.156	1.528	1.945
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		33.435	23.887	20.918
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.611	0.479	0.500
	PROFIT BEFORE TAX (E-F) (G)		32.824	23.408	20.418
Less	TAX (H)		10.645	7.648	6.645
	PROFIT AFTER TAX (G-H) (I)		22.179	15.760	13.773
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		59.854	49.601	40.153
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	1.576	1.377
		Dividend	2.520	3.360	2.520
		Tax on Dividend	0.504	0.571	0.428
		Depreciation Adjustments	0.089	0.000	0.000
		Total	3.113	5.507	4.325
	BALANCE CARRIED TO THE B/S		78.920	59.854	49.601
	Earnings Per Share (Rs.)		31.68	22.51	19.68

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash generated from Operations	27.137	(7.246)	NA
Net Cash Flow from Operating activities	26.633	(15.468)	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	5.08	4.67	NA
Operating Profit Margin (PBIDT/Sales)	(%)	8.15	7.54	NA
Return on Total Assets (PBT/Total Assets}	(%)	17.66	15.72	14.27
Return on Investment (ROI) (PBT/Networth)		0.35	0.31	0.32
Debt Equity Ratio (Total Debt /Networth)		0.16	0.07	0.10
Current Ratio (Current Asset/Current Liability)		1.89	1.93	1.54

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	7.000	7.000	7.000
Reserves & Surplus	56.580	68.409	87.475
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	63.580	75.409	94.475
long-term borrowings	1.980	2.510	3.435
Short term borrowings	4.078	2.673	11.867
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000	0.000
Total borrowings	6.058	5.183	15.302
Debt/Equity ratio	0.095	0.069	0.162

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	280.534	337.427	436.997
		20.637	29.126

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	280.534	338.427	436.997
Profit	13.773	15.760	22.179
	4.91%	4.66%	5.08%

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	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	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

COMPANY INFORMATION :

The Company was incorporated on 29.05.2002 as a Private Limited Company under the provisions of Companies Act, 1956. The Company is engaged in Trading of all kind of fertilizers.

REVIEW OF OPERATIONS :

During the year, the company has achieved a Gross turnover of Rs.436.997 million (Previous Year Gross turnover of Rs. 338.427 million) and after providing for finance costs and depreciation has resulted in a profit after tax of Rs.22.179 million (Previous Year profit after tax of Rs.15.760 million).

There was no change in the nature of business of company during the financial year. No material changes and commitments affecting the financial position of the Company have occurred after the close of the financial year till the date of this report.

UNSECURED LOAN

PARTICULARS	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
LONG-TERM BORROWINGS
Deposits
Dealer Deposits	3.435	2.510
SHORT-TERM BORROWINGS
Unsecured from Director / Shareholders	0.000	1.074
Total	3.435	3.584

INDEX CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10590794	25/08/2015	37,150,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	C64140502

FIXED ASSETS

Tangible Assets

· Land

· Building

· Plant and Machinery

· Furniture and Fitting

· Vehicles

· Office Equipment

· Computers

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.66.75
UK Pound	1	Rs.100.29
Euro	1	Rs.72.89

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	ASN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.