MIRA INFORM REPORT

Report Date :

01.01.2015

IDENTIFICATION DETAILS

Name :	GANGA KAVERI SEEDS PRIVATE LIMITED
Registered Office :	110, Indra Market, Old Subzi Mandi, Delhi - 110007
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.01.1983
Com. Reg. No.:	11-014946
Capital Investment / Paid-up Capital :	Rs. 208.042 Millions
CIN No.: [Company Identification No.]	U74899DL1983PTC014946
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company.
Line of Business :	The Company is engaged in the research, production, processing and sale of agricultural seeds through distributers and dealers to farmers
No. of Employees :	Information declined by the management.

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 79000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating takes into consideration extensive experience of GKSPL’s promoter in the agricultural seeds industry supported by adequate profitability margins and sound liquidity profile of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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 BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	May 08, 2014

Rating Agency Name	CRISIL
Rating	Short Term Rating A3
Rating Explanation	Moderate degree of safety and high credit risk
Date	May 08, 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.

INFORMATION DENIED BY

Name :	Mr. Shrikant Reddy
Designation :	Purchase Department
Contact No.:	91-40-44347222
Date :	30.12.2014

LOCATIONS

Registered Office :	110, Indra Market, Old Subzi Mandi, Delhi - 110007, India
Tel. No.:	91-11-23826151
Fax No.:	Not Available
E-Mail :	gk.seeds@gmail.com
Website :	http://www.gangakaveri.in
Corporate Office :	1406, Babukhan Estate, Bashirbagh, Hyderabad, Andhra Pradesh, India
Tel. No.:	91-11-23242450 /51 23233518 / 44347222 / 66667222 /23 /24 /25
Fax No.:	91-40-23233418 / 44347211

DIRECTORS

AS ON 15.09.2014

Name :

Mr. Vijender Reddy Muppidi

Designation :

Whole-Time Director

Address :

Flat No 604, Alpine Towers, Kavadiguda, Hyderabad – 500080, Andhra Pradesh, India

Date of Birth/Age :

14.12.1942

Date of Appointment :

18.01.2014

DIN No. :

00270021

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	U74899DL1991PLC045137	GANGA AGRI SEEDS LIMITED	Director	29/07/1991	29/07/1991	-	Strike off	NO
2	U74899DL1983PTC014946	GANGA KAVERI SEEDS PRIVATE LIMITED	Whole-time director	18/01/2014	26/12/1997	-	Active	NO
3	U24231TG2002PLC038964	SWADESHI BIO-TECHNICS LIMITED	Director	15/05/2002	15/05/2002	-	Active	NO
4	U24231TG2002PTC038984	SWARNABHARAT BIO-TECHNICS PRIVATE LIMITED	Director	17/05/2002	17/05/2002	-	Active	NO
5	U85191TG2002PTC039694	GANGA KAVERI HEALTH CARE PRIVATE LIMITED	Director	30/09/2002	30/09/2002	-	Active	NO
6	U01122TG2005PTC047376	SPRIHA BIOSCIENCES PRIVATE LIMITED	Director	08/09/2005	08/09/2005	-	Active	NO
7	U45200TG2005PTC048289	GANGAKAVERI INFRASTRUCTURE (INDIA) PRIVATE LIMITED	Director	05/12/2005	05/12/2005	-	Active	NO
8	U15531TG2006PLC048907	CROWN BEERS INTERNATIONAL LIMITED (PART IX)	Director	27/01/2006	27/01/2006	-	Under liquidation	NO
9	U01118DL2006PTC149622	AKSHARA AGRI FARMS PRIVATE LIMITED	Director	10/06/2006	10/06/2006	-	Active	NO
10	U01407TG2014PTC094076	UNIVEG SEED TECHNOLOGIES PRIVATE LIMITED	Director	19/05/2014	19/05/2014	-	Active	NO

Name :

Mr. Harish Reddy Muppidi

Designation :

Managing Director

Address :

A – 4 and 5, Chirag Enclave, New Delhi -110048, India

Date of Birth/Age :

8.12.1968

Date of Appointment :

18.01.2014

DIN No. :

00026219

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	U74899DL1991PLC045137	GANGA AGRI SEEDS LIMITED	Director	29/07/1991	29/07/1991	-	Strike off	NO
2	U74899DL1983PTC014946	GANGA KAVERI SEEDS PRIVATE LIMITED	Managing director	18/01/2014	26/12/1997	-	Active	NO
3	U70101DL2000PTC107783	GANGAKAVERI INDUSTRIES PVT LTD	Director	19/09/2000	19/09/2000	-	Active	NO
4	U85191TG2002PTC039694	GANGA KAVERI HEALTH CARE PRIVATE LIMITED	Director	30/09/2002	30/09/2002	-	Active	NO
5	U01122TG2005PTC047376	SPRIHA BIOSCIENCES PRIVATE LIMITED	Director	08/09/2005	08/09/2005	-	Active	NO
6	U45200TG2005PTC048289	GANGAKAVERI INFRASTRUCTURE (INDIA) PRIVATE LIMITED	Director	05/12/2005	05/12/2005	-	Active	NO
7	U15531TG2006PLC048907	CROWN BEERS INTERNATIONAL LIMITED (PART IX)	Director	27/01/2006	27/01/2006	-	Under liquidation	NO
8	U01403DL2006PTC149337	SHRAVANI AGRI FARMS PRIVATE LIMITED.	Director	03/06/2006	03/06/2006	-	Active	NO
9	U15531TG2007PTC052435	CROWN BEERS INDIA Private Limited	Director	02/03/2007	02/03/2007	20/06/2008	Active	NO
10	U01118DL2006PTC149622	AKSHARA AGRI FARMS PRIVATE LIMITED	Director	30/07/2007	30/07/2007	-	Active	NO
11	U01407TG2014PTC094076	UNIVEG SEED TECHNOLOGIES PRIVATE LIMITED	Director	19/05/2014	19/05/2014	-	Active	NO

Name :

Mr. Srikanth Reddy Muppidi

Designation :

Director

Address :

Plot No – 8 – 2- 684/4/4 and 7, Road No – 12, Banjara Hills Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

25.06.1951

Date of Appointment :

17.01.1983

DIN No. :

00026249

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	U74899DL1983PTC014946	GANGA KAVERI SEEDS PRIVATE LIMITED	Director	17/01/1983	17/01/1983	-	Active	NO
2	U05004TG1988PTC008974	OMNI CENTRE SEAFOODS PRIVATE LIMITED.	Director	23/08/1988	23/08/1988	01/09/2009	Active	YES
3	U70101DL2000PTC107783	GANGAKAVERI INDUSTRIES PVT LTD	Director	19/09/2000	19/09/2000	-	Active	NO
4	L18100TG1990PLC010973	VIJAY TEXTILES LTD	Director	30/09/2014	29/01/2001	-	Active	NO
5	U85191TG2002PTC039694	GANGA KAVERI HEALTH CARE PRIVATE LIMITED	Director	30/09/2002	30/09/2002	-	Active	NO
6	U01122TG2005PTC047376	SPRIHA BIOSCIENCES PRIVATE LIMITED	Director	08/09/2005	08/09/2005	-	Active	NO
7	U45200TG2005PTC048289	GANGAKAVERI INFRASTRUCTURE (INDIA) PRIVATE LIMITED	Director	05/12/2005	05/12/2005	-	Active	NO
8	U15531TG2006PLC048907	CROWN BEERS INTERNATIONAL LIMITED (PART IX)	Managing director	01/07/2008	27/01/2006	-	Under liquidation	NO
9	U01403DL2006PTC149337	SHRAVANI AGRI FARMS PRIVATE LIMITED.	Director	03/06/2006	03/06/2006	-	Active	NO
10	U01118DL2006PTC149622	AKSHARA AGRI FARMS PRIVATE LIMITED	Director	10/06/2006	10/06/2006	-	Active	NO
11	L01120AP1986PLC006728	KAVERI SEED COMPANY LTD.	Director	18/09/2014	18/01/2007	-	Active	NO
12	U15531TG2007PTC052435	CROWN BEERS INDIA Private Limited	Managing director	01/06/2007	22/01/2007	20/06/2008	Active	NO
13	U74899DL1991PLC045137	GANGA AGRI SEEDS LIMITED	Director	30/09/2009	30/09/2009	-	Strike off	NO

Name :

Mr. Varun Reddy Muppidi

Designation :

Whole-time Director

Address :

Plot No – 8 – 2- 684/4/4 and 7, Road No – 12, Banjara Hills Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

19.10.1983

Date of Appointment :

18.01.2014

DIN No. :

00664497

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	U15531TG2006PLC048907	CROWN BEERS INTERNATIONAL LIMITED (PART IX)	Director	27/01/2006	27/01/2006	-	Under liquidation	NO
2	U74899DL1983PTC014946	GANGA KAVERI SEEDS PRIVATE LIMITED	Whole-time director	18/01/2014	05/06/2009	-	Active	NO

Name :

Mr. Venkata Ramana Rao Gantla

Designation :

Whole-time Director

Address :

No. 105, Vishnu Residency, C Block No. 1-1-770-A, Gandhi Nagar, Hyderabad – 500080, Andhra Pradesh, India

Date of Birth/Age :

11.08.1961

Date of Appointment :

18.01.2014

DIN No. :

02516659

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	U01122TG2005PTC047376	SPRIHA BIOSCIENCES PRIVATE LIMITED	Director	08/09/2005	08/09/2005	-	Active	NO
2	U01119TG2010PTC070057	OSTARA AGRISCIENCES PRIVATE LIMITED	Director	18/08/2010	18/08/2010	-	Strike off	NO
3	U74899DL1983PTC014946	GANGA KAVERI SEEDS PRIVATE LIMITED	Whole-time director	18/01/2014	01/12/2012	-	Active	NO

Name :

Mr. Sanjay Bhargava

Designation :

Director

Address :

D/34 Rustomjee S Central Park CHS, Central Park, Chakala, M.V. Road, Andheri (E), Mumbai – 400059, Maharashtra

Date of Birth/Age :

07.10.1964

Date of Appointment :

01.12.2012

DIN No. :

03412222

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	L23200HR1992PLC052501	ASIAN OILFIELD SERVICES LIMITED	Nominee director	10/08/2011	07/03/2011	-	Active	NO
2	U11100HR2011PTC044117	ASIAN OFFSHORE PRIVATE LIMITED	Director	18/10/2011	18/10/2011	-	Active	NO
3	U13209DL2010PTC206651	RAJASTHAN KHANIJ & ISPAT UDYOG PRIVATE LIMITED	Director	12/12/2011	12/12/2011	-	Active	NO
4	U74899DL1983PTC014946	GANGA KAVERI SEEDS PRIVATE LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO

Name :

Manish Mehta

Designation :

Director

Address :

Flat No 902, Aqua Tower, 11 Planet Goderaj K.D Karve Marg, Mahalaxmi, Mumbai – 400011, India

Date of Birth/Age :

19.07.1976

Date of Appointment :

01.12.2012

DIN No. :

06442038

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	U74899DL1983PTC014946	GANGA KAVERI SEEDS PRIVATE LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO
2	U74140DL2006PTC156551	Samara India Advisors Private Limited	Director	20/12/2012	20/12/2012	-	Active	NO
3	U74120MH2013PTC240122	Lotus Surgical Specialities Private Limited	Director	30/09/2013	05/04/2013	-	Active	NO
4	U55101TG2011PTC076276	PARADISE FOOD COURT PRIVATE LIMITED	Director	25/08/2014	02/07/2014	-	Active	NO
5	U72400MH1998PTC117073	IRON MOUNTAIN INDIA PRIVATE LIMITED	Additional director	30/07/2014	30/07/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sairam E
Designation :	Secretary
Address :	H No. 2-2-647/284/A, Flat No II / A, Dwarakamayee, Opoosite Ayyappa Temple, CE Colony, Bagn, Amberpet, Hyderabad – 500013, Andhra Pradesh
Date of Appointment :	28.09.2013
PAN No.:	AABPE1893Q
Name :	Mr. Shrikant Reddy
Designation :	Purchase Department

MAJOR SHAREHOLDERS

As on 15.09.2014

Names of Shareholders (Equity Shares)	No. of Shares
M Vijender Reddy	4873250
M Rama Reddy	12000
M Harish Reddy	2017500
M Srikanth Reddy	2920500
M Sukaniya Reddy	6000
M Sharwani Reddy	1962250
M Varun Reddy	1962250
M/s Samara Capital Partners Fund Limited	6713140
Total	20466890

Names of Shareholders (Preference Shares)	No. of Shares
M/s Samara Capital Partners Fund I Limited, Mauritius	337302

As on 15.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	32.80
Directors or relatives of Directors	67.20
Total	100.00

BUSINESS DETAILS

Line of Business :	The Company is engaged in the research, production, processing and sale of agricultural seeds through distributers and dealers to farmers
Products :	Not Divulged
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS: Not Available

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	Andhra Bank
Branch Address	Dr. Pattabhi Bhavan, Saifabad, Hyderabad – 500003, Andhra Pradesh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Other Loans and advances	0.250	0.998
SHORT TERM BORROWINGS
Working capital loans from banks	376.148	289.557
Total	376.398	290.555

Auditors 1:
Name :	BSRR and Company Chartered Accountants
Address :	Reliance Hamsafar, Road No. 11, banjara Hills, Hyderabad – 500034, Andhra Pradesh, India
PAN No.:	AAKFB1884H
Auditors 2:
Name :	Dooger and Associates Chartered Accountants
Address :	13, Community Centre, east of Kaislash, New Delhi – 110065, India
PAN No.:	AACFD8728L
Memberships :	Not Divulged
Collaborators :	Not Divulged
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Gangakaveri Industries Private Limited Ganesh Enterprises Spriha biosciences Private limited
Associates :	Swade shi Bio-technics limited

CAPITAL STRUCTURE

As on 15.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
31500000	Equity Shares	Rs.10/- each	Rs. 315.000 Millions
3500000	Preference Shares	Rs.10/- each	Rs. 35.000 Millions
	Total		Rs. 350.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20466890	Equity Shares	Rs.10/- each	Rs. 204.669 Millions
337302	Preference Shares	Rs.10/- each	Rs. 3.373 Millions
	Total		Rs. 208.042 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	208.042	208.042	137.538
(b) Reserves & Surplus	905.597	737.684	249.784
(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)	1113.639	945.726	387.322
(3) Non-Current Liabilities
(a) long-term borrowings	0.250	0.998	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.722
(c) Other long term liabilities	10.626	7.845	6.456
(d) long-term provisions	8.102	6.089	3.595
Total Non-current Liabilities (3)	18.978	14.932	10.773
(4) Current Liabilities
(a) Short term borrowings	377.148	302.057	511.934
(b) Trade payables	541.781	335.163	292.919
(c) Other current liabilities	463.993	431.409	450.098
(d) Short-term provisions	2.539	8.861	1.928
Total Current Liabilities (4)	1385.461	1077.490	1256.879
TOTAL	2518.078	2038.148	1654.974
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	691.763	613.928	588.676
(ii) Intangible Assets	0.636	0.435	0.000
(iii) Capital work-in-progress	58.790	26.382	16.755
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2.104	2.104	11.195
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	125.262	120.645	61.455
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	878.555	763.494	678.081
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1022.807	792.699	729.571
(c) Trade receivables	370.716	248.825	98.877
(d) Cash and cash equivalents	55.394	96.813	29.448
(e) Short-term loans and advances	188.880	135.288	118.158
(f) Other current assets	1.726	1.029	0.839
Total Current Assets	1639.523	1274.654	976.893
TOTAL	2518.078	2038.148	1654.974

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1690.384	1432.887	1227.977
	Other Income	NA	NA	NA
	TOTAL (A)	NA	NA	NA
Less	EXPENSES
	TOTAL (B)	NA	NA	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	246.042	158.105	(386.275)
Less	FINANCIAL EXPENSES (D)	39.384	65.657	58.435
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	206.658	92.448	(444.710)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	37.961	34.212	26.850
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	168.697	58.236	(471.560)
Less	TAX (H)	0.784	(0.169)	1.460
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	167.913	58.405	(473.020)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (J)	(92.626)	(151.031)	321.989
	Balance Carried to the B/S (I+J)	75.287	(92.626)	(151.031)
	Earnings / (Loss) Per Share (Rs.)	8.07	2.81	(22.74)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2014
Net Profit Margin PAT / Sales	(%)	9.93	4.08	-38.52
Operating Profit Margin (PBDIT/Sales)	(%)	14.56	11.03	-31.46
Return on Total Assets (PBT/Total Assets}	(%)	6.87	2.90	-28.98
Return on Investment (ROI) (PBT/Networth)		0.15	0.06	-1.22
Debt Equity Ratio (Total Debt /Networth)		0.34	0.32	1.32
Current Ratio (Current Asset/Current Liability)		1.18	1.18	0.78

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	137.538	208.042	208.042
Reserves & Surplus	249.784	737.684	905.597
Net worth	387.322	945.726	1113.639
long-term borrowings	0.000	0.998	0.250
Short term borrowings	511.934	302.057	377.148
Total borrowings	511.934	303.055	377.398
Debt/Equity ratio	1.322	0.320	0.339

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1227.977	1432.887	1690.384
		16.687	17.971

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1227.977	1432.887	1690.384
Profit	(473.020)	58.405	167.913
	(38.52%)	4.08%	9.93%

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	Yes
10]	Designation of contact person	Yes
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

Note:

The Registered office of the company has been shifted BF/5D DDA Flatsmunirka, New Delhi – 110067, India to the present address w.e.f. 24.06.2009

FINANCIAL HIGHLIGHTS

The company had posted a net turnover of Rs. 1690.384 Millions during the period. The revenue posted a growth of 18% compared to previous year. As a result of process improvements and increasing the efficiencies, the earnings before Depreciation and financial charges increased by 56%. The net earnings for the period was Rs. 167.913 Millions, a growth of 187% compared to previous year.

REVIEW OF OPERATIONS

The Company had restructured R and D into two divisions to give more focus. The Crop Research division primarily focus on collection and development of germplasm and development of new hybrids/Varieties and Technology Development division focus on evaluating the hybrids/varieties developed by Crop Research in target environments, facilitate the process of releasing identified cultivars internally and register them with various state/national level authorities. They had entered MOUs with Haryana Agricultural University for two Maize notified hybrids and IARI for Rice (Basmati)/ Pusa-1509 to expand their product portfolio. They focussed their efforts in increasing the volumes of profitable crops namely Maize-Single Cross, Hybrid Paddy, Peral Millet and Research Paddy. They rammed up their production network especially in Paddy to support the volume. Their sustained efforts helped us to maintain their leadership position in Sunflower and facilitated to be a significant player in other major field crops.

FUTURE OUTLOOK

Though Agriculture is not significantly contributing to country?s GDP, it is still giving employment to 56% population of their country. Despite the fact their country had recorded highest food production in FY2013-14, there is always a demand for agricultural products to meet the ever increasing food demands of their country. With sprawling malls and mega supermarkets, the consumers? awareness increased for more nutritional diet and food.

However uncertainty in abundant rainfall, climate changes and dwindling natural resources posed additional challenges to the sector. Since seed is the basic raw material for agricultural output, supply of high yield variety to the farmers is the main motto of the company.

Their company had also leveraged strength in R and D and exploring new varieties with high yield. The company is expanding its R and D base to maintain right balance between traditional Plant Breeding and modern Plant Biotechnology tools to gear up for the future requirements.

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
SHORT TERM BORROWINGS
Loans and advances from related parties	1.000	12.500
Total	1.000	12.500

VIEW INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10521690	30/08/2014	120,000,000.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge C  ity, Koparkhairne, Navi Mumbai, Maharashtra - 4007  10, INDIA	C22154975
2	10227325	28/02/2014 *	456,000,000.00	ANDHRA BANK	DR. PATTABHI BHAVAN, SAIFABAD, HYDERABAD, Andhra  Pradesh - 500003, INDIA	C00608505

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Office building
• Factory building
• Plant and equipment
• Factory equipments
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments

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. 63.33
UK Pound	1	Rs. 98.58
Euro	1	Rs. 77.00

INFORMATION DETAILS

Information Gathered by :	GYA
Analysis Done by :	KAR
Report Prepared by :	TRU

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.