MIRA INFORM REPORT

Report No. :	355084
Report Date :	21.12.2015

IDENTIFICATION DETAILS

Name :	MANSHYA MARKETING PRIVATE LIMITED (w.e.f. 2001)
Formerly Known As :	YASHNITA MARKETING PRIVATE LIMITED
Registered Office :	Survey No.49/ 1A/ 1A/ 1B/ 1, Rajkumar Lodha Industrial Estate, Opposite Shatrunjay Mandir, Katraj, Kondhwa Road, Pune – 411 048, Maharashtra
Tel. No.:	91-20-24263447
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	17.08.1999
Com. Reg. No.:	11-013924
Capital Investment / Paid-up Capital :	Rs.2.000 Million
CIN No.: [Company Identification No.]	U51909PN1999PTC013924
IEC No.:	3101010527
TAN No.: [Tax Deduction & Collection Account No.]	PNEM08347D
PAN No.: [Permanent Account No.]	AACCM7782N
Legal Form :	Private Limited Liability Company
Line of Business :	Trading and Importing of Fertilizers like soluble Fertilizers, micro numents, range of organic and bio products (bio Fertilizers and bio pesticides). (Confirmed by management)
No. of Employees :	120 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 140000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was established in the year 1999 and it is engaged in the trading and importing of fertilizers. For the financial year ended 2015 company has reported 49.29% revenue as compared to previous year revenue and it has maintain average profitability margin at 3.30% during the year under review. Rating takes into consideration company’s established track record of business operations supported by its satisfactory financial profile along with favourable gap between trade payables to its receivables and average debt coverage indicators. However, rating strength is partially offset by trading nature of business operations and susceptibility to fluctuation in raw material prices imparting volatility to profitability. Trade relations are reported as fair. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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.

INFORMATION PARTED BY

Name :	Mr. Ravindra Madanlal Agrawal
Designation :	Director
Contact No.:	91-9822026017
Date :	16.12.2015

LOCATIONS

Registered Office :	Survey No.49/ 1A/ 1A/ 1B/ 1, Rajkumar Lodha Industrial Estate, Opposite Shatrunjay Mandir, Katraj, Kondhwa Road, Pune – 411 048, Maharashtra, India
Tel. No.:	91-20-24263447
Mobile No.:	91-98220260982202601717 (Mr. Ravindra Agarwal)
Fax No.:	91-20-24263447
E-Mail :	manshya@gmail.com chiragchawra@yahoo.com
Area :	4000 sq ft
Location :	Owned
Branch Office :	Located at: v Ahmedabad v Raipur v Indore v Chhattisgarh v Pune
Godown :	Gat 691, Sabale Vasti, Mastani Talav Road, District Pune – 411 302, Maharashtra, India
Area :	1 Acre
Location :	Owned

DIRECTORS

AS ON 31.03.2015

Name :	Mr. Ravindra Madanlal Agrawal
Designation :	Director
Address :	Flat No.8/12, A Wing Poonam Apartment, Bibwewadi, Kondawa Road, Pune – 411 037, Maharashtra, India
Date of Birth/Age :	04.04.1961
Qualification :	Graduate
Date of Appointment :	17.08.1999
DIN No.:	00392831
Name :	Mrs. Lata Ravindra Agrawal
Designation :	Director
Address :	Flat No.8/12, A Wing Poonam Apartment, Bibwewadi, Kondawa Road, Pune – 411 037, Maharashtra, India
Date of Birth/Age :	08.01.1966
Qualification :	Graduate
Date of Appointment :	17.08.1999
DIN No.:	00392871
Name :	Mr. Vijay Prabhakar Kunte
Designation :	Director
Address :	Plot No.89, Mahatma Society, Kothrud, Pune – 411 038, Maharashtra, India
Date of Birth/Age :	20.03.1943
Qualification :	Graduate
Date of Appointment :	17.08.1999
DIN No.:	00392898

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2015

Names of Shareholders	No. of Shares	%age holding
Ravindra Madanlal Agrawal	10000	50.00
Lata Ravindra Agrawal	10000	50.00
Total	20000	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 :	Trading and Importing of Fertilizers like soluble Fertilizers, micro numents, range of organic and bio products (bio Fertilizers and bio pesticides). (Confirmed by management)
Products :	Soluble Fertilizers Micro numents Bio Fertilizers Bio pesticides
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Fertilizers
Countries :	China Dubai Korea Turkey
Terms :
Selling :	Cash, Advance Payment, Cheque and Credit (90, 120 Days)
Purchasing :	Cash, Advance Payment, Cheque and Credit (90, 120 Days)

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 :

Wholesalers, Retailers

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 :

120 (Approximately)

Bankers :

Banker Name	HDFC Bank Limited
Branch Address	Kondhwa, Pune, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	91-20-40054442 (Ringing)
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2015	As on 31.03.2014
SHORT TERM BORROWING
Cash credit from Bank of Maharashtra	(0.737)	6.174
Total	(0.737)	6.174

Auditors :
Name :	R.J. Lahoti and Company Chartered Accountants
Address :	481/C, Shreepal Chambers, Shaniwar Peth, Pune – 411 030, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAJPL7150R
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Manshya Enviro Biotech Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
24000	Equity Shares	Rs.100/- each	Rs. 2.400 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.100/- each	Rs. 2.000 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	2.000	2.000	2.000
(b) Reserves & Surplus	45.771	35.218	28.404
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.400
Total Shareholders’ Funds (1) + (2)	47.771	37.218	30.804
(3) Non-Current Liabilities
(a) long-term borrowings	1.213	1.436	3.914
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	3.848	3.458	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	5.061	4.894	3.914
(4) Current Liabilities
(a) Short term borrowings	-0.737	6.174	3.785
(b) Trade payables	52.220	34.907	32.116
(c) Other current liabilities	3.310	1.621	2.486
(d) Short-term provisions	0.897	1.062	0.000
Total Current Liabilities (4)	55.690	43.764	38.387
TOTAL	108.522	85.876	73.105
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.610	2.048	2.204
(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	0.000	0.000	0.000
Total Non-Current Assets	2.610	2.048	2.204
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	14.218	13.769	12.769
(c) Trade receivables	69.314	55.090	47.103
(d) Cash and cash equivalents	20.036	10.871	7.680
(e) Short-term loans and advances	0.297	0.163	0.614
(f) Other current assets	2.047	3.935	2.735
Total Current Assets	105.912	83.828	70.901
TOTAL	108.522	85.876	73.105

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	318.203	213.592	180.312
	Other Income	0.568	0.229	0.421
	TOTAL (A)	318.771	213.821	180.733
Less	EXPENSES
	Purchases of Stock-in-Trade	207.329	138.778
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.450)	(0.999)
	Employees benefits expense	35.962	25.885
	Other expenses	57.821	37.665
	TOTAL (B)	300.662	201.329	172.036 (Including financial expenses)
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	18.109	12.492
Less	FINANCIAL EXPENSES (D)	1.759	1.962
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	16.350	10.530	8.697
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.462	0.441	0.467
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	15.888	10.089	8.230
Less	TAX (H)	5.364	3.274	2.585
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	10.524	6.815	5.645
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	2.768	2.453	1.893
Add	EXCESS PROV FOR FY13-14 REVERSED	0.030	0.000	0.000
Less	APPROPRIATIONS
	Transfer to General Reserve	10.000	6.500	5.000
	Interst on income tax	0.000	0.000	0.085
	Balance Carried to the B/S	3.322	2.768	2.453
	Earnings / (Loss) Per Share (Rs.)	526.11	340.74	282.25

Expected Sales (2015-2016) : Rs.320.000 Million

The above information has been parted by Mr. Ravindra Madanlal Agrawal

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	22.687	3.270	NA
Net cash flows from (used in) operations	17.323	(0.004)	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	3.31	3.19	3.13
Operating Profit Margin (PBIDT/Sales)	(%)	5.69	5.85	4.82
Return on Total Assets (PBT/Total Assets}	(%)	14.64	11.75	11.26
Return on Investment (ROI) (PBT/Networth)		0.33	0.27	0.27
Debt Equity Ratio (Total Debt /Networth)		0.01	0.20	0.25
Current Ratio (Current Asset/Current Liability)		1.90	1.92	1.85

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	2.000	2.000	2.000
Reserves & Surplus	28.404	35.218	45.771
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.400	0.000	0.000
Net worth	30.804	37.218	47.771
long-term borrowings	3.914	1.436	1.213
Short term borrowings	3.785	6.174	(0.737)
Total borrowings	7.699	7.610	0.476
Debt/Equity ratio	0.250	0.204	0.010

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)
Sales	180.312	213.592	318.203
		18.457	48.977

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	180.312	213.592	318.203
Profit	5.645	6.815	10.524
	3.13%	3.19%	3.31%

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)	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	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	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: The registered office address of the company has been shifted from Flat No. 8+12 A Wing Poonam Apartment, Bibwewadi Kondawa Road, Pune – 411037, Maharashtra, India to present w.e.f. 05.07.2010

OPERATIONAL REVIEW

The working of the financial year is encouraging. During the financial year, the sales have increased to Rs. 318.203 Million as compared to earlier year's sale of Rs. 213.592 Million and the profit before income tax is Rs. 15.887 Million as compared to earlier years profit before Income tax of Rs. 10.089 Million. This is mainly due to increasing dealer network, diversity of product range and broadening of customer base of the company and this has resulted into increase in profit as compared to earlier year.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
From directors V P Kunte	0.400	0.400
From related party R M Agarwal – HUF	0.813	1.036
Total	1.213	1.436

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10586408	20/08/2015	45,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA	C61895785

FIXED ASSETS

• Office Building
• Furniture and Fixtures
• Furniture and Fixture work in progress
• Equipment and Machinery
• Computers
• Vehicles

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.66.42
UK Pound	1	Rs.99.17
Euro	1	Rs.72.14

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	KAR
Report Prepared by :	KVT

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	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.