MIRA INFORM REPORT

Report No. :	302096
Report Date :	12.01.2015

IDENTIFICATION DETAILS

Name :	SHRAMIK KRUSHI SEVA KENDRA
Registered Office :	1158, Akole Bypass Road, Gunjalwadi, District Ahmednagar – 422605, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	21.02.2012
Capital Investment / Paid-up Capital :	Rs.19.497 Millions
IEC No.:	--
TIN No.:	--
PAN No.: [Permanent Account No.]	ACCFS0213P
Legal Form :	Partnership Concern with an unlimited liability of the partners
Line of Business :	Dealer and distributor of pesticides seeds and fertilizers.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 56000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a partnership concern with recent commencement of its Business, having satisfactory track. Trade relations seem to be fair. Business is active. Payment terms are reported as usually correct. In view of extensive experience of its promoters, the concern 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

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Anil Navale
Designation :	Partner
Contact No.:	91-9970799999
Date :	06.01.2015

LOCATIONS

Registered Office :	1158, Akole Bypass Road, Gunjalwadi, District Ahmednagar – 422605, Maharashtra, India
Tel. No.:	91-2425-225599
Mobile No.:	91-9970799999 (Mr. Anil Navale)
Fax No.:	Not Available
E-Mail :	shramiksangamner@gmail.com
Location :	Owned
Branches :	Subject have 13 branches in Nashik-Pune Road

PARTNERS

Name :	Mr. Anil R. Navale
Designation :	Partner
Name :	Mr. Sanjay Bhaskar Navale
Designation :	Partner
Name :	Mr. Amol Sahebrao Navale
Designation :	Partner
Name :	Mr. Amit Sahebrao Navale
Designation :	Partner

NOTE: There are total 11 partners, they have provided names of only 4 partners. Other partners name are not divulged by the management.

BUSINESS DETAILS

Line of Business :	Dealer and distributor of pesticides seeds and fertilizers.
Products :	Pesticides seeds Fertilizers
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :
Selling :	Cash, Advance Payment
Purchasing :	Cash, Advance Payment

GENERAL INFORMATION

Suppliers :

Company Name :	Dhanuka Agritech Limited (Ahmednagar)
Name of the Person :	Mr. Sanjay Patil (Regional Manager)
Contact No.:	91-9767100433
Since How Long Known :	5 Years
Maximum Limit Dealt :	Rs.35.000 Millions
Experience :	Payment Behaviour Market Goodwill Excellent Overall
Remark :	Having good reputation in market, management is also excellent, Payment behaviour is also excellent.

Customers :

Retailers, End Users

Company Name :	Jai Kisan Krushi Seva Kendra, Rahuri
Name of the Person :	Mr. Sachin Mane (Proprietor)
Contact No.:	91-9404696985
Since How Long Known :	10 Years
Maximum Limit Dealt :	Rs.4.500 Millions
Experience :	Product Quality Delivery Behaviour Excellent Overall
Remark :	Having excellent product quality, also have a good reputation in market, management also good.

No. of Employees :

200 (Approximately)

Bankers :

Banker Name :	Central Bank of India
Branch :	Sangamner Branch, Ahmednagar, Maharashtra, India
Person Name (With Designation) :	Mr. Mahadik (Branch Manager)
Contact Number :	91-2425-225483
Name of Account Holder :	Shramik Krushi Seva Kendra
Account Number :	Not Divulged
Account Since (Date/Year of Account Opening) :	7 Years
Average Balance Maintained (If Possible) :	Not Divulged
Credit Facilities Enjoyed :	CC= Rs.30.000 Millions
Account Operation :	Satisfactory
Remarks (If any) :	Having satisfactory trade record, management is also good.

Banking Relations :

--

Auditors :

Name :

R. J. Gunjal

Chartered Accountants

Membership :

--

Sister Concern :

Name :	Shramik Krushi Seva Kendra
Address :	1158, Akole Bypass Road, Gunjalwadi, District Ahmednagar – 422605, Maharashtra, India
Year of Establishment :	1978
Legal Form :	Sole Proprietary Concern
Proprietor :	Mr. Sahebrao Ramchandra Navale
Line of Business :	Dealer and distributor of pesticides seeds and fertilizers.
PAN No.:	AAIPN9676P

CAPITAL STRUCTURE

AS ON 31.03.2014

Capital Investment :
Owned :	Rs.19.497 Millions
Borrowed :	--
Total :	Rs.19.497 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014 Consolidated	31.03.2013 Consolidated
SHAREHOLDERS FUNDS
1] Share Capital		19.497	20.789
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		19.497	20.789
LOAN FUNDS
1] Secured Loans		29.632	26.978
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		29.632	26.978
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		49.129	47.767
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.422	6.337
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
TRADING DEPOSITS		48.825	17.236
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	119.411	69.255
	Sundry Debtors	(10.952)	(10.306)
	Cash & Bank Balances	23.621	6.044
	Other Current Assets	1.565	0.937
	Net Loss of Previous Year (2011-2012)	0.000	0.018
Total Current Assets		133.645	65.948
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	82.529	11.548
	Other Current Liabilities	56.338	29.173
	Provisions	1.896	1.033
Total Current Liabilities		140.763	41.754
Net Current Assets		(7.118)	24.194
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		49.129	47.767

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014 Consolidated	31.03.2013 Consolidated
	SALES
		Income	1427.325	737.258
		Other Income	3.219	2.125
		TOTAL (A)	1430.544	739.383
Less	EXPENSES
		Cost of goods sold	1384.747	713.786
		Trading Expenses	1.607	2.736
		Payment to employee	10.512	6.578
		Administrative Expenses	9.737	5.691
		Selling Expenses	0.315	0.483
		Interest on Partners Capital	0.000	1.755
		Partners Remuneration	8.911	3.609
		TOTAL (B)	1415.829	734.638
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		14.715	4.745
Less	FINANCIAL EXPENSES (D)		7.653	1.484
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		7.062	3.261
Less	DEPRECIATION/ AMORTISATION (F)		1.271	1.005
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		5.791	2.256
Less	TAX (H)		1.790	0.705
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		4.001	1.551

Expected Sales (2014-2015): Rs.1500.000 Millions

The above information has been parted by Mr. Anil Navale (Partner)

KEY RATIOS

PARTICULARS		31.03.2014 Consolidated	31.03.2013 Consolidated
Net Profit Margin PAT / Sales	(%)	0.28	0.21
Operating Profit Margin (PBDIT/Sales)	(%)	1.03	0.64
Return on Total Assets (PBT/Total Assets}	(%)	4.11	3.12
Return on Investment (ROI) (PBT/Networth)		0.30	0.11
Debt Equity Ratio (Total Debt /Networth)		1.52	1.30
Current Ratio (Current Asset/Current Liability)		0.95	1.58

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions
Share Capital	20.789	19.497
Reserves & Surplus	0.000	0.000
Net worth	20.789	19.497
Secured Loans	26.978	29.632
Unsecured Loans	0.000	0.000
Total borrowings	26.978	29.632
Debt/Equity ratio	1.298	1.520

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions
Sales	737.258	1427.325
		93.599

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions
Sales	737.258	1427.325
Profit	1.551	4.001
	0.21%	0.28%

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
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	Yes
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
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	No

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.62.40
UK Pound	1	Rs.94.17
Euro	1	Rs.73.61

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUB
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		41

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.