MIRA INFORM REPORT

Report No. :	299974
Report Date :	19.01.2015

IDENTIFICATION DETAILS

Name :	AKOLA CHEMICALS (INDIA) LIMITED
Registered Office :	802/803, The Corporate Centre, Nirmal Life Style, LBS Marg, Mulund (West), Mumbai - 400080, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.02.1981
Com. Reg. No.:	11-023801
Capital Investment / Paid-up Capital :	Rs. 6.400 Millions
CIN No.: [Company Identification No.]	U24100MH1981PLC023801
TAN No.: [Tax Deduction & Collection Account No.]	MUMA20605E
PAN No.: [Permanent Account No.]	AABCA1110H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Agricultural Chemicals, Insecticides and Pesticides.
No. of Employees :	45 (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 108000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating takes into consideration company’s sound financial risk profile and fair profitability levels of the company. Trade relation are fair. Business is active. Payment 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 – 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. Ganesh Ingle
Designation :	Store Head
Contact No.:	91-724-2258160
Date :	09.01.2015

LOCATIONS

Registered Office :	802/803, The Corporate Centre, Nirmal Life Style, LBS Marg, Mulund (West), Mumbai - 400080, Maharashtra, India
Tel. No.:	91-22-25924782/ 22821583
Mobile No.:	91-9867911007 (Mr. Karan Vijay Rai)
Fax No.:	91-22-2258160
E-Mail :	akolachem@gmail.com akola.protein@gmail.com akolachemicalsltd@gmail.com akolachem@vsnl.net akolachem@vsnl.com
Website :	www.akolachem.com
Location :	Owned
Factory :	A-15/18, Old MIDC Area, Seoni, Akola - 444104, Maharashtra, India
Tel No.:	91-724-2258160
Location :	Owned
Branch Office :	Located at · Fort, Mumbai, Maharashtra, India

DIRECTORS

As on 29.09.2014

Name :

Mr. Vijay Dilbagh Rai

Designation :

Director

Address :

68, Dolphin, Pilot Bunder Road, Colaba, Mumbai - 400005, Maharashtra, India

Date of Birth/ Age:

13.10.1946

Date of Appointment :

23.03.2005

DIN No.:

00075837

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	L24231CH1975PLC003603	PUNJAB CHEMICALS AND CROP PROTECTION LIMITED	Director	28/02/1985	28/02/1985	-	Active	NO
2	U70200MH1999PTC121160	HAVIRA CONSULTANTS PRIVATE LIMITED	Director	05/08/1999	05/08/1999	26/11/2012	Active	NO
3	U26939KL1963PLC002039	EICL LIMITED	Director	07/08/2000	07/08/2000	-	Active	NO
4	L99999MH1922PLC000987	GREAVES COTTON LIMITED	Director	31/07/2014	21/03/2002	-	Active	NO
5	U18101MH1999PTC118071	ZEBA HOME PRIVATE LIMITED	Director	12/09/2002	12/09/2002	26/11/2007	Active	NO
6	L22200MH1984PLC034055	NAVNEET EDUCATION LIMITED	Director	28/04/2003	28/04/2003	04/10/2011	Active	NO
7	U25209MH1992PTC069561	PRINCEWARE INTERNATIONAL PRIVATE LIMITED	Director	01/12/2003	01/12/2003	12/08/2014	Active	NO
8	U29299MH1958PLC011250	GREAVES LEASING FINANCE LIMITED	Director	04/02/2005	04/02/2005	-	Active	NO
9	U24100MH1981PLC023801	AKOLA CHEMICALS (INDIA) LIMITED	Director	23/03/2005	23/03/2005	-	Active	NO
10	U74999TG2006PTC051788	VISWAS BUSINESS SYNERGIES PRIVATE LIMITED	Director	07/03/2007	07/03/2007	15/03/2010	Active	YES
11	U17120MH1994PTC080074	POLYGEL INDUSTRIES PRIVATE LIMITED	Additional director	28/03/2007	28/03/2007	15/01/2013	Active	NO
12	U24239TG2006PLC050060	SRI BIOTECH LABORATORIES INDIA LIMITED	Director	30/09/2009	26/03/2009	-	Active	NO
13	U24297MH2011PTC223720	POLYGEL PERFORMANCE MATERIALS PRIVATE LIMITED	Director	09/11/2011	09/11/2011	23/11/2012	Active	NO
14	U51909MH2011PTC221827	PIMEX INDIA PRIVATE LIMITED	Director	24/09/2012	05/01/2012	-	Active	NO
15	U73100AP1950PTC000420	SOUTH INDIA RESEARCH INSTITUTE PRIVATE LIMITED	Director	31/12/2013	31/12/2013	-	Active	NO

Name :

Mr. Atul Churiwal

Designation :

Director

Address :

4, National Library Avenue, Alipore, Kolkata - 700027, West Bengal, India

Date of Birth/ Age:

23.12.1963

Date of Appointment :

14.03.2005

DIN No.:

00180595

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	U51109WB1995PTC070983	RANITAL INVESTMENTS PRIVATE LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
2	U24219WB1995PTC074696	KRISHI RASAYAN EXPORTS PRIVATE LIMITED	Managing director	09/10/1995	09/10/1995	-	Active	NO
3	U51109WB1995PTC076240	SHLOKE PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	29/12/1995	29/12/1995	-	Active	NO
4	U45201WB1993PTC058470	SHRESHTA CONSTRUCTION PRIVATE LIMITED	Director	18/10/2004	18/10/2004	-	Active	NO
5	U24100MH1981PLC023801	AKOLA CHEMICALS (INDIA) LIMITED	Director	14/03/2005	14/03/2005	-	Active	NO
6	U51109WB2005PTC105670	PRIMEROSE VINIMAY PRIVATE LIMITED	Director	20/12/2005	20/12/2005	-	Active	NO
7	U11102WB2007PTC113751	VANDAN HYDROCARBON PRIVATE LIMITED	Director	28/02/2007	28/02/2007	-	Active	NO
8	U74999WB2007PTC116917	KRISH BIOTECH RESEARCH PRIVATE LIMITED	Director	03/07/2007	03/07/2007	-	Active	NO
9	U51109WB2009PTC135610	TRULY PEST SOLUTION PRIVATE LIMITED	Director	03/06/2009	03/06/2009	-	Active	NO
10	U90009WB2008PTC126475	TIME ENVIRO-TECH PRIVATE LIMITED	Director	31/10/2009	31/10/2009	-	Active	NO
11	U51101WB2010PTC141453	PRISM DEALTRADE PRIVATE LIMITED	Director	28/01/2010	28/01/2010	30/03/2010	Active	NO
12	U51909WB2010PTC141454	REGAL VINTRADE PRIVATE LIMITED	Director	28/01/2010	28/01/2010	30/03/2010	Active	NO
13	U51909WB2010PTC141463	IDEAL DEALCOMM PRIVATE LIMITED	Director	28/01/2010	28/01/2010	30/03/2010	Active	NO
14	U51909WB2010PTC141527	KRISHNA KRIPA SALES PRIVATE LIMITED	Director	29/01/2010	29/01/2010	30/03/2010	Active	NO
15	U51909WB2010PTC141806	ASTRIX SALES PRIVATE LIMITED	Director	05/02/2010	05/02/2010	30/03/2010	Active	NO
16	U51909WB2010PTC141818	TRINITY COMMOSALES PRIVATE LIMITED	Director	05/02/2010	05/02/2010	30/03/2010	Active	NO
17	U70101WB2005PTC104051	EVERGREEN NIRMAN PRIVATE LIMITED	Director	13/10/2010	13/10/2010	-	Active	NO
18	U24219OR1992PTC003216	KRISHI RASAYAN PRIVATE LIMITED.	Director	01/04/2011	01/04/2011	-	Active	NO
19	U70109WB2008PTC126418	NAVNEET PROMOTERS PRIVATE LIMITED	Director	03/03/2012	03/03/2012	-	Active	NO
20	U74900WB2012PTC188539	AR AGROCHEM PRIVATE LIMITED	Director	22/11/2012	22/11/2012	-	Strike off	NO

Name :

Mr. Rajesh Kumar Agarwal

Designation :

Director

Address :

Agarwal House, Madnani Lane, Club Road, Mithanpura, Ramna, Muzaffarpur - 842001, Bihar, India

Date of Birth/ Age:

28.09.1969

Date of Appointment :

14.03.2005

DIN No.:

00210719

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	U24219WB1995PTC074696	KRISHI RASAYAN EXPORTS PRIVATE LIMITED	Whole-time director	12/08/1997	12/08/1997	-	Active	NO
2	U25206DL1992PTC047288	WEGMANS INDUSTRIES PRIVATE LIMITED	Director	25/04/2003	25/04/2003	13/07/2012	Active	NO
3	U24100MH1981PLC023801	AKOLA CHEMICALS (INDIA) LIMITED	Director	14/03/2005	14/03/2005	-	Active	NO
4	U01122DL2005PTC134064	GLOBE AGRITECH PRIVATE LIMITED	Director	16/03/2005	16/03/2005	-	Active	NO
5	U11102WB2007PTC113751	VANDAN HYDROCARBON PRIVATE LIMITED	Director	28/02/2007	28/02/2007	-	Active	NO
6	U70101DL1999PLC098885	MT. EVEREST CONSTRUCTIONS LIMITED	Director	01/07/2007	01/07/2007	01/08/2010	Active	NO
7	U74999WB2007PTC116917	KRISH BIOTECH RESEARCH PRIVATE LIMITED	Director	03/07/2007	03/07/2007	-	Active	NO
8	U51109WB2009PTC135610	TRULY PEST SOLUTION PRIVATE LIMITED	Director	03/06/2009	03/06/2009	-	Active	NO
9	U74900WB2012PTC188539	AR AGROCHEM PRIVATE LIMITED	Director	22/11/2012	22/11/2012	-	Strike off	NO
10	U74899DL1951GAP001947	PHD CHAMBER OF COMMERCE AND INDUSTRY	Director	20/12/2013	31/12/2012	-	Active	NO

Name :

Ms. Priyanka Vijay Rai

Designation :

Director

Address :

Flat No. 40, Shirin Building, Daulat Shirin CHS, Limited, 31, Colaba Road, Colaba, Mumbai - 400005, Maharashtra, India

Date of Birth/ Age:

25.05.1977

Date of Appointment :

29.03.2006

DIN No.:

02673947

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	Company/ LLP Status	Defaulting status
1	U24100MH1981PLC023801	AKOLA CHEMICALS (INDIA) LIMITED	Director	29/03/2006	29/03/2006	Active	NO
2	U70200MH1999PTC121160	HAVIRA CONSULTANTS PRIVATE LIMITED	Director	30/09/2013	25/07/2013	Active	NO

Name :

Mr. Abdulrahim Abdulla Alkhaja

Designation :

Additional Director

Address :

C/O Alkhaja Pimex, Post Office Box 11179, Dubai, United Arab Emirates

Date of Birth/ Age:

15.10.1949

Date of Appointment :

30.09.2013

DIN No.:

03288867

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	Company/ LLP Status	Defaulting status
1	U51909MH2011PTC221827	PIMEX INDIA PRIVATE LIMITED	Managing director	01/10/2011	10/09/2011	Active	NO
2	U24100MH1981PLC023801	AKOLA CHEMICALS (INDIA) LIMITED	Director	30/09/2013	03/04/2013	Active	NO

Name :

Mr. Karan Vijay Rai

Designation :

Director

Address :

Flat No. 40, Shirin Building, Daulat Shirin CHS, Limited, 31, Colaba Road, Colaba, Mumbai - 400005, Maharashtra, India

Date of Birth/Age :

10.10.1981

Date of Appointment :

28.09.2012

DIN No.:

03438712

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	Company/ LLP Status	Defaulting status
1	U24100MH1981PLC023801	AKOLA CHEMICALS (INDIA) LIMITED	Director	28/09/2012	15/03/2011	Active	NO
2	U70200MH1999PTC121160	HAVIRA CONSULTANTS PRIVATE LIMITED	Director	21/09/2012	21/09/2012	Active	NO
3	U51909MH2011PTC221827	PIMEX INDIA PRIVATE LIMITED	Director	15/12/2014	15/12/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Ganesh Ingle
Designation :	Store Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Shares
A.S.N. Vadoliwala and Roshan Vodaliwala	3500
Mr.Hanuwant Rai Verma	666
Ranjit Kumar Chowdhury	2767
Rajendra G.Rathi	160
Anu P. Mahajan	6600
Parvez K. Dubash	4000
Rekha S. Agarwal	6424
Parul	1107
Gagan	2767
Nasiruddin K. Gangani	3000
Akhtar K. Gangani	4000
Priyanka Rai	37840
Pashupatendva Singh	1000
Kamla Devendra Jain	1000
Nayak Chand	830

As on 29.09.2014

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	2.77
Bodies corporate	37.96
Directors or relatives of Directors	34.65
Other top fifty shareholders	24.62
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Agricultural Chemicals, Insecticides and Pesticides.
Products :	· Pharmaceutical and Nutraceuticals · Cosmetics · Animal Feed · Agriculture · Water Soluble Amino Acid Chelates · Readymade Agricultural Formulations.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Finished Goods
Countries :	· Middle East · Dubai
Imports :	--
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Customers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

No. of Employees :

45 (Approximately)

Bankers :

· State Bank of India, Diamond Garden Branch, Bahri Residency, Sion Trombay Road, Chembur (East) , Chembur, Mumbai - 400071, Maharashtra, India

· Vijaya Bank , Excelsior Branch, D.S. Marg, Mumbai – 400001, Maharashtra, India

· Deutsche Bank, Hazarimal Somani Marg, Fort, Mumbai – 400001, Maharashtra, India

· Axis Bank Limited

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loan
Term Loan from Bank (Secured against hypothecation of motor car)	0.000	0.276
Term Loan from Bank (For hypothecation of motor car)	4.992	6.609
Deferred Payment Liabilities Deferred Payment of Sales Tax	2.986	4.557
SHORT TERM BORROWINGS
Loans Repayable on Demand From Bank	17.972	15.271
Total	25.950	26.714

Auditors :
Name :	K.J. Sheth and Associates Chartered Accountants
Address :	2^nd Floor, Seksaria Chambers, 139, N.M. Road, Fort, Mumbai - 400023, Maharashtra, India
Tel. No.:	91-22-22671618
E-Mail :	kiri.sheth@kjsa.org
Income-tax PAN of auditor or auditor's firm :	AAKPS1414Q
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued and Subscribed Capital :

No. of Shares	Type	Value	Amount
700,000	Equity Shares	Rs.10/- each	Rs. 7.000 Millions

Paid-up Capital :

No. of Shares	Type	Value	Amount
640,000	Equity Shares	Rs.10/- each	Rs. 6.400 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	6.400	5.800	5.800
(b) Reserves & Surplus	31.509	28.406	25.983
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	1.200	0.000
Total Shareholders’ Funds (1) + (2)	37.909	35.406	31.783
(3) Non-Current Liabilities
(a) long-term borrowings	7.978	11.978	8.282
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	7.978	11.978	8.282
(4) Current Liabilities
(a) Short term borrowings	17.972	15.272	10.640
(b) Trade payables	8.881	11.607	17.609
(c) Other current liabilities	0.183	0.545	0.574
(d) Short-term provisions	1.813	1.899	1.890
Total Current Liabilities (4)	28.849	29.323	30.713
TOTAL	74.736	76.707	70.778
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	22.923	24.353	15.418
(ii) Intangible Assets	0.750	0.750	0.750
(iii) Capital work-in-progress	0.000	0.000	4.989
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.164	0.164	0.164
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.445	0.416	0.406
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	24.282	25.683	21.727
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	26.040	26.169	20.728
(c) Trade receivables	18.044	19.151	24.475
(d) Cash and cash equivalents	0.474	1.028	1.501
(e) Short-term loans and advances	5.896	4.676	2.347
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	50.454	51.024	49.051
TOTAL	74.736	76.707	70.778

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	73.334	66.299	59.565
		Other Income	0.089	0.029	0.016
		TOTAL (A)	73.423	66.328	59.581
Less	EXPENSES
		Cost of Goods Sold	35.676	27.254
		Employee Benefit Expenses	14.080	13.981
		Operating Expenses	8.208	7.216
		Other Expenses	8.237	9.815
		TOTAL (B)	66.201	58.266	51.137
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		7.222	8.062	8.444
Less	FINANCIAL EXPENSES (D)		3.343	2.590	2.095
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.879	5.472	6.349
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.176	2.949	2.096
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.703	2.523	4.253
Less	TAX (H)		0.000	0.000	3.182
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.703	2.523	1.071
	EARNINGS IN FOREIGN CURRENCY		2.412	0.000	NA
	Earnings / (Loss) Per Share (Rs.)		1.10	3.60	1.53

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.96	3.81	1.80
Operating Profit Margin (PBDIT/Sales)	(%)	9.85	12.16	14.18
Return on Total Assets (PBT/Total Assets}	(%)	0.94	3.30	6.48
Return on Investment (ROI) (PBT/Networth)		0.02	0.07	0.13
Debt Equity Ratio (Total Debt/Networth)		0.44	0.67	0.60
Current Ratio (Current Asset/Current Liability)		1.75	1.74	1.60

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	5.800	5.800	6.400
Reserves & Surplus	25.983	28.406	31.509
Share Application money pending allotment	0.000	1.200	0.000
Net worth	31.783	35.406	37.909
long-term borrowings	8.282	11.978	7.978
Short term borrowings	10.640	11.607	8.881
Total borrowings	18.922	23.585	16.859
Debt/Equity ratio	0.595	0.666	0.445

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	59.565	66.299	73.334
		11.305	10.611

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	59.565	66.299	73.334
Profit	1.071	2.523	0.703
	1.80%	3.81%	0.96%

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 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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10092450	28/03/2012 *	28,000,000.00	STATE BANK OF INDIA	DIAMOND GARDEN BRANCH, BAHRI RESIDENCY, SION TROMBAY ROAD, CHEMBUR (EAST), CHEMBUR, MUMBAI, MAHARASHTRA - 400071, INDIA	B37733524

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Loans and Advances from Related Parties	0.000	0.536
Total	0.000	0.536

OPERATIONS

Despite discontinuing consumer marketing the sales of the company increased from Rs. 66.328 Millions to Rs. 73.423 Millions for the current year. The operational profit (profit before depreciation and tax) however, was lower Rs. 3.879 Millins for Current Year as against Rs. 5.472 Millions for the previous year. this was after write off of old packing material which will now required as the product range had been discontinue as the past dues of tax and other expenses not related to current year had to absorbed.

After providing for depreciation (which was higher) and tax, the profit for the year was Rs. 0.703 Millions compared to Rs. 2.523 Millions for the previous year.

BUSINESS OPERATIONS AND PERFORMANCE

The company has now recovered from the problems of the retail market conditions. The sales have increased from Rs. 54.000 Millions to Rs. 63.000 Millions. They continued to focus on manufacture of Protein Hydrolysate which provided more certainty in terms of margin and recovery. The development of special 95% grade for new markets made a great difference in the last quarter of the year. this will be the product of the future.

The toll manufacturing work had to change as the two major customers became poor pay masters and diverted their activity to others. Hence the manufacture of paints was discontinued. The company has made arrangements to find new parties for the facilities. The manufacture of Ester discontinued in the year and the facilities are being modified to make surface coatings.

FIXED ASSETS

· Land

· Factory Building, Akola

· Office Premises, Mumbai

· Plant and Machinery

· Electrical Installation

· Tools and Equipment’s

· R & D Equipments

· Laboratory Equipments

· Furniture and Fixture

· Boilers

· Office Equipments

· Vehicles

· Computers

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No 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.61.89
UK Pound	1	Rs.93.92
Euro	1	Rs.72.01

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAR
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	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	YES
--AFFILIATION	YES/NO	NO
--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.