MIRA INFORM REPORT

Report No. :	331641
Report Date :	13.07.2015

IDENTIFICATION DETAILS

Name :	CRYSTAL CROP PROTECTION PRIVATE LIMITED (w.e.f. 04.11.2010)
Formerly Known As :	JAI BHARAT CROP CHEMICAL PRIVATE LIMITED
Registered Office :	GI-17, Industrial Area, G T Karnal Road, Azadpur, Delhi - 110033
Tel. No.:	91-11-27006800
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	13.07.1994
Com. Reg. No.:	55-060206
Capital Investment / Paid-up Capital :	Rs.1439.965 Million
CIN No.: [Company Identification No.]	U01403DL1994PTC060206
IEC No.:	0504051920
TAN No.: [Tax Deduction & Collection Account No.]	DELJ04230C
PAN No.: [Permanent Account No.]	AABCJ3574E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Agro chemical Product like Insecticides, Fungicides, Herbicides, Plant Growth Regulators / Micro Nutrients.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 20260000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having a fine track record. Overall financial position of the company seems to be sound. The rating also takes into consideration experienced promoters and management team, wide distribution network and established brand. Trade relations are reported to be fair. Business is active. Payment terms are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities = A
Rating Explanation	Have adequate degree of safety and carry low credit risk
Date	02.06.2015

Rating Agency Name	CARE
Rating	Short term bank facilities = A1
Rating Explanation	Have very strong degree of safety and carry lowest credit risk
Date	02.06.2015

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 31-03-2013.

INFORMATION DECLINED BY

Name :	Mr. Anil Roi
Designation :	Deputy General Manager
Contact No.:	91-11-27006800
Date :	10.07.2015

LOCATIONS

Registered Office :	GI-17, Industrial Area, G T Karnal Road, Azadpur, Delhi – 110033, India
Tel. No.:	91-11-27006800/ 49007100
Fax No.:	91-11-49007200
E-Mail :	cs@crystalcrop.com info@crystalcrop.com jbcl02@yahoo.in
Website :	http://www.crystalcropprotection.com
Corporate Office :	B - 95, Wazirpur Industrial Area Wazirpur, Delhi – 110052, India
Tel. No.:	91-11-49007100/ 27006800
Fax No.:	91-11-49007200
Branch Offices :	Located at: · Secunderabad · Vijayawada · Nellore · Guwahati · Patna · Raipur · Ahmedabad · Hissar · Karnal · Bellary · Indore · Akola · Bhubaneswar · Ludhiana · Bathinda · Jaipur · Coimbatore · Kolkata · Silliguri · Ghaziabad · Lucknow · Uttarakhand

DIRECTORS

AS ON 16.09.2014

Name :

Mr. Nand Kishore Aggarwal

Designation :

Director

Address :

A-88, Ashok Vihar, Phase-1, Delhi -110052, India

Date of Birth/Age :

01.11.1951

Qualification :

B. Sc

Experience :

40 Years

Date of Appointment :

30.09.2011

PAN No.:

AAEPA7339N

DIN No.:

00074107

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	U74899DL1983PLC015451	JAI SHREE AGRO INDUSTRIES LIMITED	Director	01/12/1990	01/12/1990	-	Amalgamated	NO
2	U74899DL1994PTC060049	JAI SHREE CROP SCIENCE PRIVATE LIMITED	Director	06/07/1994	06/07/1994	16/02/2009	Active	NO
3	U01403DL1997PLC135852	CRYSTAL PHOSPHATES LIMITED	Whole-time director	10/02/2009	01/11/2003	-	Amalgamated	NO
4	U24117DL2005PTC134587	AVIRAL CHEMICALS PRIVATE LIMITED	Director	31/03/2005	31/03/2005	05/12/2007	Active	NO
5	U24100DL2009PTC186999	REDSON POLYMERS AND CHEMICALS PRIVATE LIMITED	Director	28/01/2009	28/01/2009	-	Active	NO
6	U24211DL1970NPL005200	CROP CARE FEDERATION OF INDIA	Director	05/12/2009	05/12/2009	30/09/2013	Active	NO
7	U01403DL2006PTC151429	RAJ RATAN AGROTECH PRIVATE LIMITED	Director	15/09/2011	05/12/2010	25/06/2013	Active	NO
8	U93000DL2010NPL211237	KRISHI ANUSANDHAN & KISAN VIKAS FOUNDATION	Director	09/12/2010	09/12/2010	-	Active	NO
9	U01403DL1994PTC060206	CRYSTAL CROP PROTECTION PRIVATE LIMITED	Director	30/09/2011	29/08/2011	-	Active	NO
10	U01403DL2009PTC187000	REDSON AGRISCIENCE PRIVATE LIMITED	Additional director	10/01/2015	10/01/2015	-	Active	NO

Name :

Mr. Ankur Aggarwal

Designation :

Managing Director

Address :

A-88, Ashok Vihar, Phase-1, Delhi - 110052, India

Date of Birth/Age :

07.08.1982

Qualification :

MSc

Experience :

10 Years

Date of Appointment :

01.10.2011

PAN No.:

AETPA8287Q

DIN No.:

00074325

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Dire ctor/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U01403DL1997PLC135852	CRYSTAL PHOSPHATES LIMITED	Managing director	10/02/2009	01/10/2004	-	Amalgamated	NO
2	U24117DL2005PTC134587	AVIRAL CHEMICALS PRIVATE LIMITED	Director	31/03/2005	31/03/2005	05/12/2007	Active	NO
3	U01403DL2009PTC187000	REDSON AGRISCIENCE PRIVATE LIMITED	Director	28/01/2009	28/01/2009	12/05/2015	Active	NO
4	U18204KA2009PTC051872	TOONZ RETAIL INDIA PRIVATE LIMITED	Director	06/08/2010	06/08/2010	-	Active	NO
5	U74996DL2006PTC149795	VMP AGRO BIOTECH PRIVATE LIMITED	Director	15/09/2011	05/12/2010	-	Active	NO
6	U93000DL2010NPL211237	KRISHI ANUSANDHAN AND KISAN VIKAS FOUNDATION	Director	09/12/2010	09/12/2010	-	Active	NO
7	U01403DL1994PTC060206	CRYSTAL CROP PROTECTION PRIVATE LIMITED	Managing director	01/10/2011	29/08/2011	-	Active	NO
8	U01122TG2001PTC038131	ROHINI SEEDS PRIVATE LIMITED	Director	28/09/2011	28/09/2011	-	Active	NO
9	U01403TG2009PTC065824	ROHINI BIOSEEDS AND AGRITECH PRIVATE LIMITED	Director	28/09/2011	28/09/2011	-	Active	NO
10	U01403TG2010PTC070549	ROHINI AGRISEEDS PRIVATE LIMITED	Director	28/09/2011	28/09/2011	-	Active	NO

Name :

Mr. Joginder Singh

Designation :

Director

Address :

Flat No. 124 (A catagory, A Type) Nav Sansad Group, Housing Society, Plot No. 4, Sector 22, Dwarka PhL, New Delhi - 110045, Delhi, India

Date of Birth/Age :

12.10.1939

Date of Appointment :

29.08.2011

DIN No.:

00836395

Name :

Mr. Dhanpal Arvind lhaveri

Designation :

Director

Address :

2 Sumangal 13 Ridge Road, Malbar Hill, Mumbai - 400005, Maharashtra,. India

Date of Birth/Age :

20.12.1968

Date of Appointment :

19.12.2011

DIN No.:

02018124

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	L52602MH1996PLC192090	FUTURE CONSUMER ENTERPRISE LIMITED	Director	30/09/2008	28/01/2008	19/02/2010	Active	NO
2	L29120MH2005PLC156795	CAPITAL FIRST LIMITED	Whole-time director	14/08/2008	20/02/2008	06/04/2010	Active	NO
3	U65933DL1991PLC266069	ULTIMATE INVESTOFIN LIMITED	Director	22/07/2008	15/05/2008	03/05/2010	Active	NO
4	U74999MH2003PTC139774	INVENT ASSETS SECURITISATION AND RECONSTRUCTION PRIVATE LIMITED	Director	24/09/2008	11/07/2008	23/04/2010	Active	NO
5	L65990MH1977PLC019986	CENTRUM CAPITAL LIMITED	Director	29/12/2008	16/07/2008	28/01/2015	Active	NO
6	U65921MH1996PLC191973	FUTURE CAPITAL CREDIT LIMITED	Director	30/07/2009	12/11/2008	-	Amalgamated	NO
7	U67190MH2004PLC150329	CAPITAL FIRST INVESTMENT ADVISORY LIMITED	Director	03/08/2009	20/06/2009	03/05/2010	Active	NO
8	U40109DL2006PLC151871	TEESTAVALLEY POWER TRANSMISSION LIMITED	Nominee director	01/09/2010	08/03/2010	-	Active	NO
9	U45200MH1962PLC012268	B E BILLIMORIA AND COMPANY LIMITED	Director appointed in casual vacancy	02/06/2010	02/06/2010	18/09/2013	Active	NO
10	U67190MH2008PTC179546	EVERSTONE CAPITAL ADVISORS PRIVATE LIMITED	Whole-time director	06/09/2011	10/06/2010	-	Active	NO
11	U55209MH2006PTC161530	PAN INDIA FOOD SOLUTIONS PRIVATE LIMITED	Director	29/09/2010	04/08/2010	-	Active	NO
12	U51502MH2007PTC173163	AXIA ENTERPRISES PRIVATE LIMITED	Director	30/09/2010	09/08/2010	-	Active	NO
13	U74900MH2009PTC192339	MANGALAM STAFFING SERVICES PRIVATE LIMITED	Director	30/09/2010	09/08/2010	-	Active	NO
14	U40108TG2010FTC069648	INDUS CLEAN ENERGY (INDIA) PRIVATE LIMITED	Director	14/06/2011	14/08/2010	29/04/2014	Active	NO
15	U40105TG2007PTC058753	EAST COAST ENERGY PRIVATE LIMITED	Nominee director	10/06/2011	16/08/2010	26/02/2015	Active	NO
16	U51909WB2009PLC136998	INDOSTAR CAPITAL FINANCE LIMITED	Director	23/09/2011	02/09/2010	-	Active	NO
17	U31200DL2005PLC133875	TEESTA URJA LIMITED	Nominee director	08/08/2011	13/12/2010	31/03/2015	Active	NO
18	U40108DL2010PTC278785	INDUS HYDRO POWER (INDIA) PRIVATE LIMITED	Director	09/06/2011	09/06/2011	15/01/2015	Active	NO
19	U85110TN1998PTC093106	RAVINDRANATH GE MEDICAL ASSOCIATES PRIVATE LIMITED	Nominee director	01/07/2011	01/07/2011	-	Active	NO
20	U01403DL1994PTC060206	CRYSTAL CROP PROTECTION PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
21	U40300TG2008PTC058520	COBALT POWER PRIVATE LIMITED	Alternate director	05/06/2012	31/03/2012	05/07/2012	Active	NO
22	U67100MH2013PTC240676	INDOSTAR ASSET ADVISORY PRIVATE LIMITED	Director	16/08/2014	05/03/2013	-	Active	NO
23	U70102MH2013PTC243281	EVEROCK REAL ESTATE PRIVATE LIMITED	Director	13/05/2013	13/05/2013	-	Active	NO
24	U70100MH2013PTC243824	EVEROCK REALTY PRIVATE LIMITED	Director	30/05/2013	30/05/2013	-	Active	NO
25	U55204MH2013FTC249986	BURGER KING INDIA PRIVATE LIMITED	Additional director	18/11/2013	18/11/2013	27/02/2014	Active	NO
26	U65991MH1992PLC069414	BARODA PIONEER ASSET MANAGEMENT COMPANY LIMITED	Director	03/09/2014	25/02/2014	-	Active	NO
27	U51909MH2014PTC252638	AMULYA CORPORATION PRIVATE LIMITED	Director	25/09/2014	20/03/2014	-	Active	NO

Name :

Mr. Sharad Venkta

Designation :

Director

Address :

7B-701, Spring Leaf, Lokhand Wala Township, Kandivali East, Mumbai, 400101, Maharashtra, INDIA

Date of Appointment :

01.07.2014

DIN No.:

05272004

Name :

Mr. Arvind Kumar Tyagi

Designation :

Director

Address :

V.P.O. Bayampur, Sonepat, Sonepat - 131001, Haryana, India

Date of Birth/Age :

23.06.1966

Date of Appointment :

30.09.2011

PAN No.:

AHBPT6004F

DIN No.:

01993914

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	U01403DL1997PLC135852	CRYSTAL PHOSPHATES LIMITED	Whole-time director	10/02/2009	15/12/2007	Amalgamated	NO
2	U01403DL1994PTC060206	CRYSTAL CROP PROTECTION PRIVATE LIMITED	Director	30/09/2011	29/08/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. Suresh Menon
Designation :	Secretary
Address :	C/4/F-21, Janakpuri, New Delhi -110058, Delhi, India
Date of Appointment :	01.07.2014
PAN No.:	AEYPM5625D
Name :	Mr. Anil Roi
Designation :	Deputy General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 16.09.2014

Names of Shareholders	No. of Shares
Kanak Aggarwal	75623680
Nand Kishore Aggarwal	6956800
Ankur Aggarwal	4537600
Nand Kishore Aggarwal (HUF)	9524480
Aviral Chemicals Private Limited, India	21831680
Jai Shree Crop Science Private Limited, India	9008640
Komal Aggarwal	2734080
Crystal Crop Protection Employee Welfare Trust, India	7578768
Everstone Capital Partner II LLC, Mauritius	13779584
Total	151575312

AS ON 16.09.2014

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	9.10
Bodies corporate	25.30
Directors or relatives of directors	65.60
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Agro chemical Product like Insecticides, Fungicides, Herbicides, Plant Growth Regulators / Micro Nutrients.
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS; NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India

· State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan,, 1, Tolstoy Marg, New Delhi - 110001, Delhi, India

· The Hongkong And Shanghai Banking Corporation Limited, Birla Towers, 25,Barakhamba Road,, New Delhi - 110001, Delhi, India

· ICICI Bank Limited, ICICI Bank Towers, NBCC Place, Bishma Pitamah Marg, Pragati Vihar, New Delhi - 110003, Delhi, India

· Citibank N.A, Jeevan Vihar, 3, Sansad Marg, New Delhi - 110001, Delhi, India

· HDFC Bank Limited, Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Loans repayable on demand from banks	1692.930	694.413
Total	1692.930	694.413
NOTE: Nature of security: Short term borrowings from banks are secured by way of first pari passu charge on the entire current assets+ of the Company, both present and future and on the entire fixed assets of the Company, both present and future, including equitable mortgage of land and building. These are further secured by personal guarantee of certain directors and relative of directors of the Company. Overdraft facility is further secured by way of lien on fixed deposits.

Banking Relations :	--
Auditors :
Name :	B S R and Company Chartered Accountants
Address :	Building No. 10, 8^th Floor, Tower-B DLF Cyber City, Phase-II, Gurgaon - 122002 Haryana, India
Income-tax PAN of auditor or auditor's firm :	AAIFB0630K
Memberships :	--
Collaborators :	--
Subsidiaries :	· Rohini Seeds Private Limited · Rohini Bioseeds and Agritech Private Limited. · Lotus Global Pte. Limited Singapore · Crystal Global Holding Luxembourg S.A.R.L. (4 April 2011 to 17 July 2012)
Step-down Subsidiary :	Rohini Agriseeds Private Limited (Subsidiary of Rohini Bioseeds and Agritech Private Limited)
Other related Party :	Modern Papers
Enterprises over which any person :	· Redson Agriscience Private Limited · Krishi Anusandhan & Kisan Vikas Foundation

CAPITAL STRUCTURE

AS ON 16.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
155,000,000	Equity Shares	Rs. 10/- each	Rs. 1550.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
151,575,312	Equity Shares	Rs. 10/- each	Rs. 1515.753 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
155,000,000	Equity Shares	Rs. 10/- each	Rs. 1550.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14,39,96,544	Equity Shares	Rs. 10/- each	Rs. 1439.965 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	1439.965	89.998	89.998
(b) Reserves & Surplus	5650.108	5535.018	4603.434
(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)	7090.073	5625.016	4693.432
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	4.043
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	65.283	58.612	51.733
(d) long-term provisions	66.280	53.018	33.059
Total Non-current Liabilities (3)	131.563	111.630	88.835
(4) Current Liabilities
(a) Short term borrowings	1692.930	694.413	783.025
(b) Trade payables	1283.308	462.442	369.758
(c) Other current liabilities	298.275	271.114	279.540
(d) Short-term provisions	255.240	73.349	38.800
Total Current Liabilities (4)	3529.753	1501.318	1471.123
TOTAL	10751.389	7237.964	6253.390
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	358.038	228.200	224.971
(ii) Intangible Assets	22.888	23.582	2.523
(iii) Capital work-in-progress	82.610	88.759	5.066
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1613.574	1264.688	352.767
(c) Deferred tax assets (net)	41.584	51.995	11.233
(d) Long-term Loan and Advances	76.866	91.301	91.792
(e) Other Non-current assets	1.967	58.000	51.726
Total Non-Current Assets	2197.527	1806.525	740.078
(2) Current assets
(a) Current investments	120.000	631.476	702.529
(b) Inventories	3598.380	2018.384	2304.524
(c) Trade receivables	2548.679	1572.103	1681.844
(d) Cash and cash equivalents	162.477	108.550	165.749
(e) Short-term loans and advances	1947.436	934.481	651.610
(f) Other current assets	176.890	166.445	7.056
Total Current Assets	8553.862	5431.439	5513.312
TOTAL	10751.389	7237.964	6253.390

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	10805.496	8165.338	6979.603
Less	EXPENSES		8846.028	6984.070	5759.616
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1959.468	1181.268	1219.987
Less	EXCEPTION ITEM (LOSS OF STOCK DUE TO FIRE)		0.000	60.209	0.000
	PROFIT BEFORE TAX		1959.468	1121.059	1219.987
Less	TAX		494.410	189.475	316.337
	PROFIT AFTER TAX		1465.058	931.584	903.650
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports:	171.265	68.462	20.004
	IMPORTS
		Raw Materials	3348.374	2172.218	1978.332
		Stores & Spares	39.392	1.921	0.681
		Capital Goods	1.515	0.472	3.042
	TOTAL IMPORTS		3389.281	2174.611	1982.055
	Earnings Per Share (Rs.)		10.17	103.51	100.41

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.000	4.043	4.043
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from (used in) Operations	(1172.771)	761.593	368.706

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)		13.56	11.41	12.95
Operating Profit Margin (PBDIT/Sales)	(%)	18.13	14.47	17.48
Return on Total Assets (PBT/Total Assets}	(%)	21.74	19.22	20.73
Return on Investment (ROI) (PBT/Networth)		0.28	0.20	0.26
Debt Equity Ratio (Total Liability/Networth)		0.24	0.12	0.17
Current Ratio (Current Asset/Current Liability)		2.42	3.62	3.75

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	89.998	89.998	1439.965
Reserves & Surplus	4603.434	5535.018	5650.108
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	4693.432	5625.016	7090.073
Long-term borrowings	4.043	0.000	0.000
Short term borrowings	783.025	694.413	1692.930
CURRENT MATURITIES OF LONG-TERM DEBTS	4.043	4.043	0.000
Total borrowings	791.111	698.456	1692.930
Debt/Equity ratio	0.169	0.124	0.239

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Revenue	6979.603	8165.338	10805.496
		16.989	32.334

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Revenue	6979.603	8165.338	10805.496
Profit	903.650	931.584	1465.058
	12.95%	11.41%	13.56%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10567566	30/03/2015	45,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI  TED	25, BIRLA TOWER, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA	C52732328
2	10544986	21/01/2015	180,000,000.00	CITI BANK N.A.	JEEVAN BHARTI BUILDING, 4TH FLOOR,, 124, CONNAUGH  T CIRCUS, CONNAUGHT PLACE, NEW DELHI - 110001, INDIA	C41401886
3	10512666	25/08/2014 *	330,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI  TED	25, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA	C19184134
4	10500678	03/09/2014 *	500,000,000.00	DBS BANK LIMITED	CAPITAL POINT, BABA KHARAK SINGH MARG, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	C28431336
5	10441842	16/10/2014 *	500,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA  ROAD, NEW DELHI - 110001, INDIA	C31354491
6	10309276	03/09/2014 *	900,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI  TED	BIRLA TOWERS, 25, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	C55489918
7	10307690	06/03/2015 *	700,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL  (WEST), MUMBAI - 400013,, MAHARASHTRAINDIA	C50088236
8	10224365	21/01/2015 *	600,000,000.00	CITI BANK N.A.	JEEVAN BHARTI BUILDING, 4TH FLOOR,, 124, CONNAUGH  T CIRCUS, CONNAUGHT PLACE, NEW DELHI - 110001, INDIA	C41257726
9	10002356	03/09/2014 *	200,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTO Y MARG, NEW DELHI - 110001, INDIA	C32131294

* Date of charge modification

CHANGE OF ADDRESS:

The Registered Office of the Company has been shifted from E – 901, D.S.I.D.C. Industrial Area, Narela, Delhi – 110040, India to the present address w.e.f. 29.08.2011.

COMPANY PERFORMANCE

The Company achieved a new landmark in revenues, crossing the Rs.10.000 Million milestone. The Companys profit before tax is Rs. 1959.500 Million during the year, as compared to Rs. 1121.000 Million in the previous year. The Company earned a net profit of Rs. 1465.000 Million, as against a net profit of Rs. 931.600 Million in the previous year.

The Financial Year 2013-14 started on a positive note, with predictions of a good monsoon. The industry performance was good in the first half of the year; the Company also registered a good growth and sales as well as collections were highest ever during the first half of the year. However, the third quarter did not prove to be conducive for the crop protection industry. The quarter started with Cyclone Phailin hitting the key coastal States in the very first fortnight. The cyclone badly damaged the Kharif crops like paddy, cotton, chili and Bengal gram in the States of Andhra Pradesh, West Bengal, Odisha and Bihar. This was further aggravated by the continuous rains that followed the cyclone.

Overall, the rainfall also helped in improving reservoir levels. Aided by a favorable monsoon and a supportive input supply environment, Indian agricultural production bounced back in the current year, after a year of low growth in the previous year when the monsoons delivered uneven and deficient rainfall. The advance estimates (as per NCAER) suggest that the growth rate of agriculture and allied sectors would be 4.6% in 2013-14 as against 1.4% in 2012-13. Although excess rainfall towards the end of the monsoon period in some parts of Eastern and Central India led to crop damage, the late rains helped improve prospects of the rabi crops with reported increases in sown area of the rabi crops. The first assessment of the overall production of crop output for the full year 2013-14 shows that food grain production for the year is expected to achieve a new record exceeding 263 million tonnes, as against 257 million tonnes in 2012-13.

The Company has registered an overall double digit growth during the financial year 2013-14. This growth is driven by an all-round performance and in particular, rise in sales of megabrands.

AWARDS AND RECOGNITION

The company continues its tradition of participation in various industrial fairs and exhibitions. The Company was awarded first prize at agriculture program organized by department of agriculture Madhya Pradesh, State Level Farmer fare at Narendra Deva Agriculture University & Technology, Kumarganj- Faizabad Uttar Pradesh and second prize at Annual general meet of State Agricultural Technologists Service Association.

FIXED ASSETS:

· Land

· Buildings

· Office Building

· Plant and Equipment

· Factory Equipment’s

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipment’s

· Other Equipment’s

· Other Equipment’s

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.63.38
UK Pound	1	Rs.97.65
Euro	1	Rs.70.43

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		51

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.