MIRA INFORM REPORT

Report No. :	328685
Report Date :	22.06.2015

IDENTIFICATION DETAILS

Name :	EASTERN CONDIMENTS PRIVATE LIMITED
Registered Office :	P B No. 15 Eastern Valley, Adimali, Idukki – 685561, Kerala
Tel. No. :	91-486-4222206
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.08.1989
Com. Reg. No.:	005449
Capital Investment / Paid-up Capital :	Rs. 96.569 Million
CIN No.: [Company Identification No.]	U15499KL1989PTC005449
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	chne00937G
PAN No.: [Permanent Account No.]	AAACE5276F
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the manufacturing and selling of natural spice powders (viz. Turmeric, Chilli, Coriander, Pepper, etc.), blended curry powders made of spices (viz. Sambar, Rasam, Chicken Masala, Fish Masala, Biriyani Masala, Pickle Powder, etc.), pickles (viz., Mango, Ginger, Lemon, Gooseberry, etc.), coffee, rice products (viz. Puttu Podi, Idli Podi, Dosa Podi, Pathiri Podi, Appam Podi, etc.), etc.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 4800000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having good track record. The rating reflects company sound financial risk profile marked by healthy net worth position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitment. The company can be considered normal 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 – 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	CRISIL
Rating	Long Term Rating (A)
Rating Explanation	Adequate degree of safety and carry credit risk
Date	July 4, 2014

Rating Agency Name	CRISIL
Rating	Short – Term Rating (A1)
Rating Explanation	Very strong degree of safety and carry lowest credit risk
Date	July 4, 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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Prabhakar
Designation :	General manager
Contact No.:	91-9447722203

LOCATIONS

Registered Office / Factory :	P B No. 15 Eastern Valley, Adimali, Idukki – 685 561, Kerala
Tel. No.:	91-486-4222206 / 4222765 / 4224100
Fax No.:	91-486-4222662
E-Mail :	sivau@eastern.in exports@eastern.in
Website :	http://www.eastern.in
Corporate Office :	4th Floor, Mather Square, Opposite North Railway Station, Cochin – 682018, Kerala
Tel. No.:	91-484-2393550 / 2395510 / 2391562
Fax No.:	91-484-2390315
E-Mail :	mktg@eastern.in
Factory / Warehouse :	Adimali, Kerala, India Theni, Tamilnadu, India Guntur, Andhra Pradesh, India Ghaziabad, Uttar Pradesh, India
Branch Office :	Ras-Al-Khaimah, UAE

DIRECTORS

AS ON 11.07.2014

Name :

Navas Manalumparayil Meeran

Designation :

Whole-time Director

Address :

Villa no 2 Prominadeg Ardens Pavoorroad, P A Divattom, Cochin, Ernakulam – 682024, Kerala

Date of Birth/Age :

23.07.1969

Date of Appointment :

08.04.2014

DIN No. :

00128692

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	U25119KL1993PTC007151	EASTERN RETREADS PVT LTD	Managing director	24/05/1993	24/05/1993	-	Active	NO
2	L25119KL1993PLC007213	EASTERN TREADS LIMITED	Director	10/11/2011	26/08/1997	-	Active	NO
3	U17214KL1999PTC012719	EASTERN MATTRESSES PRIVATE LIMITED	Director	06/01/1999	06/01/1999	-	Active	NO
4	U24132MP1996PLC010652	ADIMALI INDUSTRIES LIMITED	Director	20/06/2000	20/06/2000	-	Active	NO
5	U70101KL2002PTC015444	REENAZ PROPERTIES PRIVATE LIMITED	Director	28/05/2002	28/05/2002	-	Active	NO
6	U15499KL1989PTC005449	EASTERN CONDIMENTS PRIVATE LIMITED	Whole-time director	08/04/2014	01/10/2004	-	Active	NO
7	U45309KL1961SGC001937	KERALA STATE INDUSTRIAL DEVELOPMENT CORPN LTD	Director	14/05/2007	14/05/2007	-	Active	NO
8	U70101KL2007PTC020929	SHEHAB PROPERTIES PRIVATE LIMITED	Director	13/06/2007	13/06/2007	-	Active	NO
9	U51225KL2007PTC021282	BAMS CONDIMENTS IMPEX PRIVATE LIMITED	Director	05/10/2007	05/10/2007	01/04/2009	Active	NO
10	U91110KL1938NPL001413	COCHIN CHAMBER OF COMMERCE AND INDUSTRY	Director	28/10/2008	28/10/2008	30/10/2009	Active	NO
11	U15490KA2008PTC048380	EASTERN FOOD SPECIALITY FORMULATIONS PRIVATE LIMITED	Director	21/11/2008	21/11/2008	-	Active	NO
12	U15491KL2010PTC025741	EASTEA CHAI PRIVATE LIMITED	Director	24/03/2010	24/03/2010	-	Active	NO
13	U70100KL2011PTC027375	MEERANS PROPERTIES PRIVATE LIMITED	Director appointed in casual vacancy	12/09/2011	12/09/2011	-	Active	NO
14	U91900KL2012NPL030408	YOUNG PRESIDENTS ORGANISATION (KERALA CHAPTER)	Director	31/01/2012	31/01/2012	-	Active	NO
15	U45202MH2009PTC195561	LOCUS CONSTRUCTIONS PRIVATE LIMITED	Director	29/09/2012	22/02/2012	-	Active	NO
16	U70100KL2012PTC030723	NANMA PROPERTIES PRIVATE LIMITED	Director	09/03/2012	09/03/2012	-	Active	NO
17	U70100KL2012PTC030722	SHENAZ PROPERTIES PRIVATE LIMITED	Director	09/03/2012	09/03/2012	-	Active	NO
18	U45201KL1995PLC008859	MATHER PROJECTS AND CONSTRUCTIONS LIMITED	Director	15/04/2012	15/04/2012	-	Active	NO
19	U70102MH2007PTC171711	MATHER PROJECTS PRIVATE LIMITED	Director	22/09/2012	21/06/2012	-	Active	NO
20	U70102KL2007PTC020706	FREENAZ PROPERTIES PRIVATE LIMITED	Director	30/09/2014	25/08/2014	-	Active	NO

Name :

Firoz Meeran

Designation :

Managing Director

Address :

Manalumparayil House, Adimali, lduckki, Road – 685561,

Date of Birth/Age :

07.11.1983

Date of Appointment :

08.04.2014

DIN No. :

00242135

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	U25119KL2001PTC015144	FEROZ TREADS PRIVATE LIMITED	Director	28/12/2001	28/12/2001	-	Active	NO
2	U70101KL2002PTC015444	REENAZ PROPERTIES PRIVATE LIMITED	Director	28/05/2002	28/05/2002	-	Active	NO
3	U15499KL1989PTC005449	EASTERN CONDIMENTS PRIVATE LIMITED	Managing director	08/04/2014	30/09/2005	-	Active	NO
4	U70102KL2007PTC020706	FREENAZ PROPERTIES PRIVATE LIMITED	Director	27/04/2007	27/04/2007	-	Active	NO
5	U51225KL2007PTC021282	BAMS CONDIMENTS IMPEX PRIVATE LIMITED	Director	05/10/2007	05/10/2007	01/04/2009	Active	NO
6	U17214KL1999PTC012719	EASTERN MATTRESSES PRIVATE LIMITED	Director	30/09/2009	10/10/2008	-	Active	NO
7	U15490KA2008PTC048380	EASTERN FOOD SPECIALITY FORMULATIONS PRIVATE LIMITED	Director	21/11/2008	21/11/2008	-	Active	NO
8	U15491KL2010PTC025741	EASTEA CHAI PRIVATE LIMITED	Director	24/03/2010	24/03/2010	-	Active	NO
9	U70100KL2011PTC027375	MEERANS PROPERTIES PRIVATE LIMITED	Director	07/01/2011	07/01/2011	-	Active	NO
10	U24132MP1996PLC010652	ADIMALI INDUSTRIES LIMITED	Director	12/09/2011	12/09/2011	-	Active	NO
11	U74999KA2012PTC062465	MAGIC CUT SERVICES PRIVATE LIMITED	Director	08/02/2012	08/02/2012	-	Active	NO
12	U74900MH2012PTC226007	Ziqitza Dental Solutions Private Limited	Director	10/07/2013	10/02/2012	-	Active	NO
13	U45202MH2009PTC195561	LOCUS CONSTRUCTIONS PRIVATE LIMITED	Director	29/09/2012	22/02/2012	-	Active	NO
14	U55102KL1993PTC006949	COPPER CASTLE RESORTS PVT LTD	Director	29/09/2012	14/08/2012	01/04/2015	Active	NO
15	U70101KL2007PTC020929	SHEHAB PROPERTIES PRIVATE LIMITED	Director	30/09/2014	27/01/2014	-	Active	NO

Name :

Srambickal Mytheen Muhammed

Designation :

Whole-time Director

Address :

Srambickal House, Eastern Valley, Machiplavu, Idukki – 685561, Kerala, india

Date of Appointment :

30.09.2005

DIN No. :

00254406

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	U15499KL1989PTC005449	EASTERN CONDIMENTS PRIVATE LIMITED	Whole-time director	30/09/2005	17/08/1989	-	Active	NO
2	U25199KL2001PTC015030	S M TREADS PRIVATE LIMITED	Director	01/11/2001	01/11/2001	-	Active	NO
3	U45201KL2007PTC020817	NASHER PROPERTIES PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO

Name :

Manalumparayil Ebrahim Mohamed

Designation :

Director

Address :

No. 9, Spring Tide Villas Tagore Reliance Elamakkar, A Cochin – 682 026, Ernakulam – 682 026, Kerala

Date of Birth/Age :

21.09.1942

Date of Appointment :

01.10.2004

DIN No. :

00129005

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	U24132MP1996PLC010652	ADIMALI INDUSTRIES LIMITED	Director	20/06/2000	20/06/2000	-	Active	NO
2	U17214KL1999PTC012719	EASTERN MATTRESSES PRIVATE LIMITED	Director	30/09/2004	04/02/2004	08/10/2012	Active	NO
3	U15499KL1989PTC005449	EASTERN CONDIMENTS PRIVATE LIMITED	Director	01/10/2004	01/10/2004	-	Active	NO
4	L25119KL1993PLC007213	EASTERN TREADS LIMITED	Managing director	26/08/2011	26/08/2005	-	Active	NO
5	U70102KL2007PTC020706	FREENAZ PROPERTIES PRIVATE LIMITED	Director	27/04/2007	27/04/2007	-	Active	NO
6	U51225KL2007PTC021282	BAMS CONDIMENTS IMPEX PRIVATE LIMITED	Director	05/10/2007	05/10/2007	01/04/2009	Active	NO
7	U36104KL2012PTC032498	INTERNATIONAL SLEEP SOLUTIONS PRIVATE LIMITED	Director	25/10/2012	25/10/2012	-	Active	NO

Name :

Mr. Satish Premanand Rao

Designation :

Director

Address :

2/17, Chandra Brabha Murarroa D, Opposiye Kate D, AS Hall, Mulund West, Mumbai – 400080, Maharashtra, India

Date of Birth/Age :

18.04.1965

Date of Appointment :

02.11.2010

DIN No. :

03265301

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	U15499KL1989PTC005449	EASTERN CONDIMENTS PRIVATE LIMITED	Director	02/11/2010	02/11/2010	-	Active	NO
2	U15122DL2011PTC219766	Kohinoor Speciality Foods India Private Limited	Managing director	13/10/2011	09/09/2011	-	Active	NO
3	U51909KA1997PTC021698	MCCORMICK INDIA PRIVATE LIMITED	Director	12/09/2011	12/09/2011	-	Active	NO
4	U72900HR2014FTC052211	MCCORMICK SUPPORT SERVICES PRIVATE LIMITED	Director	21/03/2014	21/03/2014	-	Active	NO

KEY EXECUTIVES

Name :	Sivanandan U
Designation :	Secretary
Address :	Thirunilath, Narayaneeyam, Elamakkara, P. O., Kochi, Eernakulam – 682026, Kerala, India
Date of Birth/Age :	20.05.1972
Date of Appointment :	02.11.2010
PAV No.:	ANPU5439Q
Name :	Mr. Prabhakar
Designation :	General manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 11.07.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Meeran M. Ebrahim	2967036	30.72
Mohammed Mytheen S.	6100	0.06
Navas Manalumparayil Meeran	2044035	21.17
Abacid M. Aliyar	1200	0.02
Nabeeza Meeran	27100	0.28
FirozM. Meeran	2044035	21.17
Niza Zakeer	27100	0.28
Soya Sajith	27100	0.28
Mohammed M. Ebrahim	2400	0.02
Mccormick Ingredients Southeast Asia Pte Limited, Singapore	2510794	26.00
Total	9656900	100.00

As on 11.07.2014

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	26.00
Directors or relatives of Directors	74.00
Total	100.00

BUSINESS DETAILS

Line of Business :	engaged in the manufacturing and selling of natural spice powders (viz. Turmeric, Chilli, Coriander, Pepper, etc.), blended curry powders made of spices (viz. Sambar, Rasam, Chicken Masala, Fish Masala, Biriyani Masala, Pickle Powder, etc.), pickles (viz., Mango, Ginger, Lemon, Gooseberry, etc.), coffee, rice products (viz. Puttu Podi, Idli Podi, Dosa Podi, Pathiri Podi, Appam Podi, etc.), etc.
Products :	Natural Spice Powders Blended Curry Powders Made of Spices Pickles Coffee , Rice Products
Brand Names :	Not Available
Agencies Held :	Not Available
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	State Bank of India
Branch Address	Commercial Branch, 1^st Floor, Vankarath Towers, Bye Pass Junction, Padivattom, Cochin – 682024, Kerala, 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

• Citi Bank N.A., Photofast House, Door No. 38/1581, M.G. Road, Padma Junction, Cochin – 682035, Kerala, India

• ICICI Bank Limited, 2^nd Floor, AdonI Towers, S.A. Road, Kadavantra, Kochi – 682016, Kerala, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Long-term maturities of finance lease obligations	1.929	3.239
Term loans from banks	0.000	28.487
SHORT TERM BORROWINGS
Loans repayable on demand from banks	851.541	540.933
Total	853.470	572.659

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Wilmont Park, Business Centre, 1^st Floor, Warriam Road, Kochi - 682 016, Kerala
PAN No.:	AACFD3771D
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary company :	Bams condiments Impex private Limited Eastern Food Speciality Formulations Private Limited
Associate Company :	Eastern Condiments Middle East FZC, UAE
Entity having Significant Influence over the Company :	McCormick Ingredient SouthEast Asia Pte Limited
Entities over which KMP / Relatives of KMP can exercise significant influence	Adimali Agro Food Industries Eastern Agencies Eastern Aqua Mineral Eastern Clothing Company Eastern Mattresses Private Limited Eastern Retreads Private Limited Eastern Rubbers Eastern Treads Limited Eastern Newton Public School Vazhakkulam Rubbers Reenaz Properties Private Limited Kohinoor Speciality Foods India Private Limited Eastea Chai Private Limited

CAPITAL STRUCTURE

As on 11.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Million
4400000		Rs.10/- each	Rs. 440.000 Million
	Total		Rs.590.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9656900	Equity Shares	Rs.10/- each	Rs. 96.569 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	96.569	96.569	96.569
(b) Reserves & Surplus	1584.200	1345.879	1122.326
(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)	1680.769	1442.448	1218.895
(3) Non-Current Liabilities
(a) long-term borrowings	1.929	33.632	105.079
(b) Deferred tax liabilities (Net)	11.092	9.550	16.228
(c) Other long term liabilities	24.712	30.767	24.111
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	37.733	73.949	145.418
(4) Current Liabilities
(a) Short term borrowings	851.541	540.933	676.369
(b) Trade payables	131.758	153.205	155.900
(c) Other current liabilities	58.685	86.882	125.261
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	1041.984	781.020	957.530
TOTAL	2760.486	2297.417	2321.843
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1050.260	999.067	1018.567
(ii) Intangible Assets	27.734	26.603	29.795
(iii) Capital work-in-progress	66.493	81.654	60.436
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	31.052	31.052	31.052
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	101.029	71.504	102.595
(e) Other Non-current assets	6.066	2.164	0.000
Total Non-Current Assets	1282.634	1212.044	1242.445
(2) Current assets
(a) Current investments	0.351	0.312	0.274
(b) Inventories	1105.716	749.992	704.578
(c) Trade receivables	276.471	249.716	229.323
(d) Cash and cash equivalents	37.930	30.050	90.804
(e) Short-term loans and advances	26.453	40.077	38.735
(f) Other current assets	30.931	15.226	15.684
Total Current Assets	1477.852	1085.373	1079.398
TOTAL	2760.486	2297.417	2321.843

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	5599.349	4453.501	4681.004
	Other Income	38.311	31.064	24.090
	TOTAL	5637.660	4484.565	4705.094
Less	TOTAL EXPENSES	5070.220	4052.509	4518.694
	PROFIT/ (LOSS) BEFORE TAX	567.440	432.056	186.400
Less	TAX	193.542	141.162	59.309
	PROFIT/ (LOSS) AFTER TAX	373.898	290.894	127.091
	EARNINGS IN FOREIGN CURRENCY	1367.736	1033.983	988.409
	Earnings / (Loss) Per Share (Rs.)	38.72	30.12	13.16

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	33.253	60.775	84.545
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	6.68	6.53	2.72
Return on Total Assets (PBT/Total Assets}	(%)	21.31	19.78	8.36
Return on Investment (ROI) (PBT/Networth)		0.34	0.30	0.15
Debt Equity Ratio (Total Debt/Networth)		0.53	0.44	0.71
Current Ratio (Current Asset/Current Liability)		1.42	1.39	1.13

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	96.569	96.569	96.569
Reserves & Surplus	1122.326	1345.879	1584.200
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1218.895	1442.448	1680.769
long-term borrowings	105.079	33.632	1.929
Short term borrowings	676.369	540.933	851.541
Current Maturities of Long Term Debt	84.545	60.775	33.253
Total borrowings	865.993	635.340	886.723
Debt/Equity ratio	0.710	0.440	0.528

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)
Sales	4681.004	4453.501	5599.349
		-4.860	25.729

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	4681.004	4453.501	5599.349
Profit	127.091	290.894	373.898
	2.72%	6.53%	6.68%

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	No
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	Yes
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	Yes
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

CORPORATE INFORMATION

The Company is primarily engaged in the manufacturing and selling of natural spice powders (viz. Turmeric, Chilli, Coriander, Pepper, etc.), blended curry powders made of spices (viz. Sambar, Rasam, Chicken Masala, Fish Masala, Biriyani Masala, Pickle Powder, etc.), pickles (viz., Mango, Ginger, Lemon, Gooseberry, etc.), coffee, rice products (viz. Puttu Podi, Idli Podi, Dosa Podi, Pathiri Podi, Appam Podi, etc.), etc. The Company has factories and warehouses at Adimali in Kerala, Theni in Tamil Nadu, Guntur in Andhra Pradesh, Ghaziabad in Uttar Pradesh and branch office in Ras-Al-Khaimah in UAE and an extensive distribution network in India, Middle East countries and other overseas markets.

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10524749	07/08/2014	150,000,000.00	DBS BANK LIMITED	806, ANNASALAI, CHENNAI, CHENNAI, TAMIL NADU - 600002, INDIA	C28470227
2	10444866	31/07/2013	250,000,000.00	ICICI BANK LIMITED	AGRI BUSINESS GROUP, 2ND FLOOR, ADONAI TOWERS, SA ROAD, KADAVANTHARA, KOCHI, KERALA - 682016, INDIA	B83003533
3	10347965	29/03/2012	80,000,000.00	CITI BANK N.A.	DOOR NO.38/1581, PHOTOFAST HOUSE, M.G. ROAD, PADMA JUNCTION, COCHIN, KERALA - 682035, INDIA	B37083177
4	10343520	18/10/2013 *	20,000,000.00	THE FEDERAL BANK LIMITED	ERNAKULAM NORTH BRANCH, BANERJI ROAD, ERNAKULAM,  KERALA - 682018, INDIA	B91519041
5	10343515	18/10/2013 *	350,000,000.00	THE FEDERAL BANK LIMITED	ERNAKULAM NORTH BRANCH, BANERJI ROAD, ERNAKULAM,  KERALA - 682018, INDIA	B91462309
6	10310783	10/10/2014 *	450,000,000.00	CITI BANK N.A.	PHOTOFAST HOUSE, DOOR NO.38/1581, M.G. ROAD, PADMA JUNCTION, COCHIN, KERALA - 682035, INDIA	C26831370
7	10132271	06/12/2013 *	350,000,000.00	STANDARD CHARTERED BANK	19, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA	B92989037
8	90023121	22/02/2014 *	356,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, 1ST FLOOR, VANKARATH TOWERS, BYE PASS JUNCTION, PADIVATTOM, COCHIN, KERALA - 682024, INDIA	C00456905

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Borrowing from government semi-government bodies	0.000	1.906
Total	0.000	1.906

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicle
• 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. 63.82
UK Pound	1	Rs. 101.26
Euro	1	Rs. 72.36

INFORMATION DETAILS

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

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
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--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		54

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.