MIRA INFORM REPORT

Report No. :	306203
Report Date :	23.02.2015

IDENTIFICATION DETAILS

Name :	SRI SARVARAYA SUGARS LIMITED
Registered Office :	12 Ethiraj Salai Egmore, Chennai – 600008, Tamilnadu
Country :	India
Financials (as on) :	30.09.2013
Date of Incorporation :	14.09.1956
Com. Reg. No.:	18-003435
Capital Investment / Paid-up Capital :	Rs.10.160 Millions
CIN No.: [Company Identification No.]	L01115TN1956PLC003435
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECS6554N
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer of Sugar and Soft Drinks.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (18)

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 and delayed
Litigation :	Not Available
Comments :	Subject is an established company having moderate track record. The rating reflects delay by company in servicing its debt and the delays have been caused by the weakening in the company’s liquidity. Business is active. Payments are reported to be slow and delayed. The company can be considered for business dealings on safe and secured trade terms and conditions. Note: Companies shares are not listed on NSE and BSE.

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 Rating = D
Rating Explanation	Lowest credit quality and very low prospects of recovery.
Date	21.11.2014

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 31-03-2014.

LOCATIONS

Registered Office :	12 Ethiraj Salai Egmore, Chennai – 600008, Tamilnadu, India
Tel. No.:	91-44-28276182 / 28241851
Fax No.:	91-44-28241852
E-Mail :	rammohan.drsbpp@srisarvarayasugars.in
Factory :	Rayavaram Mandal Chelluru, East Godavari, Gudivada, Andhra Pradesh - 533261, India
Tel. No.:	91-8857-242701
Fax No.:	91-8857-242369

DIRECTORS

As on 27.03.2014

Name :

Mr. Rajarajeswaramma Sri Balusu

Designation :

Managing Director

Address :

Old No.22, New No.8, Krishnama Road, Nungambakkam, Chennai - 600034, Tamilnadu, India

Date of Birth/Age :

05.04.1926

Date of Appointment :

11.12.1990

DIN No.:

00760782

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	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Managing director	22/10/2009	11/12/1990	-	Active	NO

Name :

Mr. Sivaswamy Rama Nadiminti

Designation :

Director

Address :

Plot No.113, Hno.1038, Road No.10, Jubilee Hills, Hyderabad, - 500033, Andhra Pradesh, India

Date of Birth/Age :

01.07.1936

Qualification :

MA ,LLB ,Ph.D.

Date of Appointment :

28.03.2001

DIN No.:

00003749

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	U99999TG1996PLC025591	HERITAGE INTERNATIONAL LIMITED	Director	31/10/1996	31/10/1996	-	Active	NO
2	L15209TG1992PLC014332	HERITAGE FOODS LIMITED	Director	19/08/1999	19/08/1999	16/07/2014	Active	NO
3	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Director	28/03/2001	28/03/2001	-	Active	NO
4	U67110TG1943PLC000629	HYDERABAD SECURITIES AND ENTERPRISES LIMITED	Nominee director	06/01/2004	06/01/2004	28/08/2007	Active	NO

Name :

Bolla Bulli Ramaiah

Designation :

Director

Address :

10-242, Venkatarayapuram, Tanuku - 534215, Andhra Pradesh, India

Date of Birth/Age :

09.07.1926

Qualification :

Industrialist

Date of Appointment :

28.03.2005

DIN No.:

00015061

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	L15420AP1947PLC000326	THE ANDHRA SUGARS LIMITED	Managing director	01/11/2011	01/04/1998	-	Active	NO
2	L23209AP1984PLC004635	THE ANDHRA PETROCHEMICALS LIMITED	Managing director	12/11/2011	23/10/1998	-	Active	NO
3	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Director	28/03/2005	28/03/2005	-	Active	NO
4	U67120AP1981PLC002940	JAYALAKSHMI ESTATES LIMITED	Director	29/09/2008	16/07/2008	-	Active	NO
5	U91110TN1928NPL000030	ANDHRA CHAMBER OF COMMERCE	Director	27/09/2013	27/09/2013	-	Active	NO
1	L15420AP1947PLC000326	THE ANDHRA SUGARS LIMITED	Managing director	01/11/2011	01/04/1998	-	Active	NO

Name :

Mr. Rammohan Sri Balusu Prabhakara Pattabhi

Designation :

Whole-Time Director

Address :

27 Rutland Gate, 4th Street, Chennai - 600006, Tamilnadu, India

Date of Birth/Age :

08.12.1948

Date of Appointment :

28.03.2013

DIN No.:

00586641

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	L17120AP1956PLC000814	SARVARAYA TEXTILES LTD	Managing director	22/06/1987	22/06/1987	-	Active	NO
2	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Whole-time director	27/03/2014	28/03/2013	-	Active	NO

Name :

Mr. Subbarayudu Mudragada

Designation :

Director

Address :

1-128, Damireddipalli, Kadiyam Mandal East Godavari District - 533126, Andhra Pradesh, India

Date of Birth/Age :

16.05.1939

Date of Appointment :

11.12.1990

DIN No.:

00704551

Name :

Mr. Krishna Mohan Prabhakara Sarvaraya Sri Balusu

Designation :

Whole-Time Director

Address :

Old No.22, New No.8, Krishnama Road, Nungambakkam, Chennai, 600034, Tamilnadu, India

Date of Birth/Age :

29.12.1952

Date of Appointment :

28.03.2013

DIN No.:

00806989

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	L17120AP1956PLC000814	SARVARAYA TEXTILES LTD	Managing director	20/12/1980	20/12/1980	-	Active	NO
2	U36991TN1983PTC010552	DIGITAL DATA FORMS PRIVATE LIMITED	Director	26/12/1983	26/12/1983	-	Dormant	NO
3	U18100AP1984PLC005155	SUDHA SEWING THREADS LIMITED	Director	29/03/1990	29/03/1990	14/02/2013	Active	NO
4	U17111TN1995PTC031990	SRIJANANI KNITTING PRIVATE LIMITED	Director	28/07/1995	28/07/1995	01/12/2008	Active	NO
5	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Whole-time director	27/03/2014	28/03/2013	-	Active	NO

Name :

Mr. Anand Mohan Sri Balusu Prabhakara

Designation :

Whole-Time Director

Address :

197/4, Y Block 2nd Street, Anna Nagar, Chennai - 600040, Tamilnadu, India

Date of Birth/Age :

17.12.1955

Date of Appointment :

23.06.1982

DIN No.:

01195434

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	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Whole-time director	28/11/2013	23/06/1982	-	Active	NO

Name :

Mrs. Usha Sarvarayulu Sribalusu

Designation :

Director

Address :

10-4-1 Masab Tank, Humayun Nagar, Hyderabad, 500028, Telangana, India

Date of Birth/Age :

04.11.1953

Date of Appointment :

25.02.2002

DIN No.:

01195680

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	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Director	25/02/2002	25/02/2002	-	Active	NO
2	U01119AP1992PLC015101	NAVA BHARAT AGRO PRODUCTS LIMITED	Whole-time director	24/04/2012	11/07/2011	-	Active	NO
3	U85191TG2013NPL085320	A.S. CHOWDHRI NAVA BHARAT FOUNDATION	Director	09/01/2013	09/01/2013	-	Active	NO
4	U74900TG2014PTC095541	Adhrith Enterprise Private Limited	Director	05/09/2014	05/09/2014	-	Active	NO

Name :

Mohannaidu Kora

Designation :

Director

Address :

No.10-B, N.No.95-A, Lalbagadur Colony, Peelamedu, Coimbatore - 641004, Tamilnadu, India

Date of Birth/Age :

22.08.1937

Date of Appointment :

29.03.2012

DIN No.:

01774192

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	U17219TZ1989PLC002377	RAJ FABRICS AND ACCESSORIES CBE LIMITED	Director	05/03/2004	03/03/1989	19/03/2010	Active	NO
2	U17111TZ1984PLC001381	RAJSHREE SPINNING MILLS LIMITED	Director	30/08/2004	30/08/2004	19/03/2010	Active	NO
3	U70101TZ2005PTC011595	Sri Krishna Potable Products Private Limited	Director	11/02/2005	11/02/2005	19/03/2010	Active	NO
4	L01542TZ1985PLC001706	RAJSHREE SUGARS & CHEMICALS LIMITED	Director	08/09/2014	17/05/2010	-	Active	NO
5	U15424TZ2002PLC013368	TRIDENT SUGARS LIMITED	Director	08/09/2014	18/05/2011	-	Active	NO
6	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Director	28/03/2013	29/03/2012	-	Active	NO

Name :

Meka Narasimha Rao

Designation :

Director

Address :

C-6.301, Power Welfare Housing Society, Sector - 43, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

01.07.1941

Date of Appointment :

11.08.2011

DIN No.:

02770009

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	U99999DL1969GAP005106	INDIAN SUGAR EXIM CORPORATION LTD.	Nominee director	29/09/2009	29/09/2009	29/09/2010	Active	NO
2	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Director	29/03/2012	11/08/2011	-	Active	NO

Name :

Sribalusu Prabhakara Madan Mohan

Designation :

Whole-Time Director

Address :

49/2 3rd Main Road, Gandhi Nagar Adyar, Chennai - 600020, Tamilnadu, India

Date of Birth/Age :

12.08.1954

Date of Appointment :

15.05.2013

DIN No.:

06592268

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	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Whole-time director	27/03/2014	15/05/2013	-	Active	NO

Name :

Sanjay Sribalusu

Designation :

Director

Address :

No.8, Krishnama Road, Nungambakkam, Chennai - 600034, Tamilnadu, India

Date of Birth/Age :

09.02.1982

Date of Appointment :

27.03.2014

DIN No.:

06604420

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	L01115TN1956PLC003435	SRI SARVARAYA SUGARS LIMITED	Director	27/03/2014	15/05/2013	-	Active	NO

MAJOR SHAREHOLDERS

As on 27.03.2014

SHAREHOLDING DETAILS FILE ATTACTED

Equity Share Break up (Percentage of Total Equity)

As on 27.03.2014

Category	Percentage
Bodies corporate	16.99
Directors or relatives of Directors	71.33
Other top fifty shareholders	8.04
Others	3.64
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Sugar and Soft Drinks.

Products :

Product Description	Item Code No. (ITC Code)
Aerated Water	22019090

Brand Names :

--

Agencies Held :

--

Exports :

Not Available

Imports :

Not Divulged

Terms :

Selling :

Not Available

Purchasing :

Not Available

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

No. of Employees :

Not Available

Bankers :

• Bank of India, Visakhapatnam Mid Corporate Banking Branch, Resapuvanipalem, Visakhapatnam - 530013, Andhra Pradesh, India
• Industrial Credit And Investment Corp Of India Limited, 163 Backbay Reclamation, Bombay - 400020, Maharashtra, India
• State Bank of India Commercial Branch, Commercial Branch, Main Road, Kakinada - 533001, Andhra Pradesh, India
• Bank of Baroda, Main Road, Kakinada, Andhra Pradesh, India

Facilities :

SECURED LOANS	30.09.2013 Rs. In Millions	30.09.2012 Rs. In Millions
LONG TERM BORROWINGS
Rupee term loans from banks	695.270	783.151
Rupee term loans from others	28.782	51.079
Loans taken for vehicles	0.941	0.334
SHORT TERM BORROWINGS
Rupee term loans from banks	855.828	827.279
Total	1580.821	1661.843

Auditors :
Name :	Brahmayya and Company Chartered Accountants
Address :	D. No: 1-88-19, Plot No: 135/4, Sector 4, M V P Colony, Visakhapatnam – 530017, Andhra Pradesh, India
PAN No.:	AADFB8032G
Memberships :	--
Collaborators :	--
Associate Companies and Firms :	Sri Godavari Transport Southern Agencies
Enterprises in which Key Management Personnel and/or their relatives have significant influence: :	Sarvaraya Educational Trust Sri Sarvaraya Dharmica Vidya Trust The Kapileswarapuram Kothavuru Annasatram

CAPITAL STRUCTURE

As on 27.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions
700000	Preference Shares	Rs.100/- each	Rs.70.000 Millions
	Total		Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1016028	Equity Shares	Rs.10/- each	Rs.10.160 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	30.09.2013	30.09.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.160	10.160
(b) Reserves & Surplus	1,160.221	1,092.563
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1,170.381	1,102.723
(3) Non-Current Liabilities
(a) long-term borrowings	761.890	873.814
(b) Deferred tax liabilities (Net)	340.883	288.052
(c) Other long term liabilities	173.620	171.115
(d) long-term provisions	16.899	14.452
Total Non-current Liabilities (3)	1,293.292	1,347.433
(4) Current Liabilities
(a) Short term borrowings	928.404	915.254
(b) Trade payables	49.528	94.063
(c) Other current liabilities	632.347	519.363
(d) Short-term provisions	37.739	31.857
Total Current Liabilities (4)	1,648.018	1,560.537
TOTAL	4,111.691	4,010.693
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2,705.040	2,641.178
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	39.902	10.077
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1.909	1.909
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	24.256	17.775
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	2,771.107	2,670.939
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	656.401	640.422
(c) Trade receivables	91.973	116.365
(d) Cash and cash equivalents	108.564	56.632
(e) Short-term loans and advances	275.066	258.617
(f) Other current assets	208.580	267.718
Total Current Assets	1,340.584	1,339.754
TOTAL	4,111.691	4,010.693

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.09.2013	30.09.2012
	SALES
		Income	4403.197	4043.385
		Other Income	43.104	92.684
		TOTAL (A)	4,446.301	4,136.069
Less	EXPENSES
		Cost of Materials Consumed	2308.804	2038.157
		Purchases of Stock-in-Trade	382.114	358.353
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	15.385	(139.302)
		Employees benefits expense	413.914	368.317
		Other expenses	656.266	70.034
		Exceptional Items Before Tax	10.041	771.826
		TOTAL (B)	3,786.524	3,467.385
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		659.777	668.684
Less	FINANCIAL EXPENSES (D)		280.187	315.617
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		379.590	353.067
Less	DEPRECIATION/ AMORTISATION (F)		207.465	201.427
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		172.125	151.640
Less	TAX (H)		92.659	15.813
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		79.466	135.827
	Earnings / (Loss) Per Share (Rs.)		78.21	133.68

KEY RATIOS

PARTICULARS		30.09.2013	30.09.2012
Net Profit Margin (PAT/Sales)	(%)	1.80	3.36
Operating Profit Margin (PBDIT/Sales)	(%)	14.98	16.54
Return on Total Assets (PBT/Total Assets}	(%)	4.23	3.79
Return on Investment (ROI) (PBT/Networth)		0.15	0.14
Debt Equity Ratio (Total Debt /Networth)		1.44	1.62
Current Ratio (Current Asset/Current Liability)		0.81	0.86

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	30.09.2012	30.09.2013
	Rs. In Millions	Rs. In Millions
Share Capital	10.160	10.160
Reserves & Surplus	1092.563	1160.221
Share Application money pending allotment	0.000	0.000
Net worth	1102.723	1170.381
Long Term borrowings	873.814	761.890
Short Term borrowings	915.254	928.404
Total borrowings	1789.068	1690.294
Debt/Equity ratio	1.622	1.444

YEAR-ON-YEAR GROWTH

Year on Year Growth	30.09.2012	30.09.2013
	Rs. In Millions	Rs. In Millions
Sales	4,043.385	4,403.197
		8.899

NET PROFIT MARGIN

Net Profit Margin	30.09.2012	30.09.2013
	Rs. In Millions	Rs. In Millions
Sales	4,043.385	4,403.197
Profit	135.827	79.466
	3.36%	1.80%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	30.09.2013 Rs. In Millions	30.09.2012 Rs. In Millions
LONG TERM BORROWINGS
Deposits from directors	0.444	0.298
Public deposits	36.453	38.952
SHORT TERM BORROWINGS
Deposits	72.576	87.975
Total	109.473	127.225

REVIEW OF OPERATIONS:

Sugar Division:

During the 2012-2013 crushing season, 3.73 Lakh Tons of Sugarcane (previous season 4.04 Lakh Tons) was crushed. The sugar recovery was 9.96% (previous season 10.30%). 3.72 Lakh quintals of sugar (previous season 4.16 Lakh quintals) were produced. For the 2013-2014 crushing season, about 3.30 Lakh Tons of cane is expected to be available.

Distillery Division:

During the year under review, 48.55 Lakh Bulk Litres of Rectified Spirit and 22.45 Bulk Litres of Ethanol were produced, as against 47.99 Lakh Bulk Litres of Rectified Spirit and 23.99 Bulk Litres of Ethanol during the previous year. 20.40 Lakh Kgs. of Liquefied CO 2 was produced during the year under review, as against 22.34 Lakh Kgs. during the previous year.

Beverage Division:

The Vemagiri and Kesavaram Units sold 94.45 Lakh cases of Carbonated and Non-Carbonated Soft Drinks, as against 100.26 Lakh cases during the previous year. Kesavaram Unit sold 28.74 Lakh cases of Carbonated Soft Drinks in PET Bottles as against 23.74 Lakh cases during the previous year.

Packaged Drinking Water:

The Sathupally Unit sold 23.33 Lakh cases of Packaged Drinking Water as against 25.59 Lakh cases during the previous year.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10403535	31/12/2012	100,000,000.00	Bank Of India	Visakhapatnam Mid Corporate Banking Branch, Resapuvanipalem, Visakhapatnam, Andhra Pradesh - 530013, India	B68328004
2	10395642	07/12/2012	1,800,000.00	Karur Vysya Bank Kakinada	15-26-1-15/16, Temple Street, Kakinada, Andhra Pradesh - 533001, India	B65375859
3	10356074	27/03/2012	36,000,000.00	State Bank Of India Commercial Branch	Commercial Branch, Main Road, Kakinada, Andhra Pradesh - 533001, India	B39733894
4	10254710	02/07/2014 *	325,000,000.00	Andhra Bank Main Branch	Tilak Street, Kakinada, Kakinada, Andhra Pradesh  - 533001, India	C16360489
5	10255715	08/03/2011 *	500,000,000.00	Bank Of Baroda ( Leader Consortium )	17 - 1 - 6 Main Road,, Kakinada, Kakinada, Andhra Pradesh - 533001, India	B08235749
6	10255714	24/11/2010	57,500,000.00	Andhra Bank	Main Branch, Tilak Street, Kakinada, Andhra Pradesh - 533001, India	B01411974
7	10257144	08/03/2011 *	100,000,000.00	Bank Of Baroda	17 - 1 - 6 Main Road, Kakinada, Kakinada, Andhra Pradesh - 533001, India	B08236218
8	10254032	08/03/2011 *	250,000,000.00	Bank Of Baroda	17 - 1 - 6 Main Road, Kakinada, Kakinada, Andhra Pradesh - 533001, India	B08381899
9	10239643	03/09/2010	19,000,000.00	Indian Bank	37-1-7/2 Main Road, Kakkinada, Andhra Pradesh - 533001, India	A94843729
10	10207447	18/03/2010	1,120,000.00	Bank Of Baroda	17-1-6 Main Road Gold Market Centre, Kakinda, Andhra Pradesh - 533001, India	A81626327
11	10172920	30/08/2013 *	69,000,000.00	State Bank Of India	Sme Branch, Main Road, Kakinada, Andhra Pradesh - 533001, India	B87168910
12	10150098	12/03/2009	275,000,000.00	Bank Of Baroda (Lead Institutiion)	Post Box No. 64, 37-1-6 Main Road, Kakinada, Andhra Pradesh - 533001, India	A59255141
13	10125488	27/08/2008	100,000,000.00	Andhra Bank Mainbranch	D.No 36-8-35, Tilak Street, Kakinada, Andhra Pradesh - 533001, India	A48276273
14	10116087	17/07/2008	85,600,000.00	Bank Of Baroda(Leader Bank)	17--1-6, Main Road, KAKINADA, Andhra Pradesh - 533001, India	A42631002
15	10076429	14/05/2007 *	117,200,000.00	President Of India	Government Of India, Ministry Of Food And Public Distribution, Newdelhi, Delhi - 110001, India	A28786887
16	10025872	05/03/2007 *	135,000,000.00	Andhra Bank	Kakinada Branch, Door No,36-8-35, Tilak Street, Kakinada, Andhra Pradesh - 533001, India	A05356753
17	80032499	31/07/2014 *	1,833,327,000.00	Bank Of Baroda	Bank Of Baroda Kakinada Branch, 17-1-66, Main Road  , Gold Market Centre, Kakinada, Kakinada, Andhra  Pradesh - 533001, India	C22369110
18	80061616	08/03/2011 *	170,000,000.00	Bank Of Baroda	17 - 1 - 6 Main Road, Kakinada, Kakinada, Andhra Pradesh - 533001, India	B08237166
19	90295609	27/11/2003	10,000,000.00	Indian Bank	Temple Street, Kakinada, Andhra Pradesh - 533001,  India	-
20	80056537	28/07/1998	248,500,000.00	State Bank Of India	Commercial Branch, Kakinada, Andhra Pradesh - 533001, India	-
21	90296438	25/11/2003 *	190,000,000.00	State Bank Of India	Commercial Branch, Kakinda, Tamil Nadu, India	-
22	90297766	28/05/2004 *	190,000,000.00	State Bank Of India	Commercial Branch, Kakinada, Andhra Pradesh, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.62.26
UK Pound	1	Rs.96.01
Euro	1	Rs.70.72

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--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		18

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.