MIRA INFORM REPORT

Report No. :	328774
Report Date :	24.06.2015

IDENTIFICATION DETAILS

Name :	APEEJAY TEA LIMITED (w.e.f. 19.02.2014)
Formerly Known As :	APEEJAY SURRENDRA CORPORATE SERVICE LIMITED (25.01.2011) APEEJAY SURRENDRA CORPORATE SERVICE PRIVATE LIMITED
Registered Office :	15, Park Street, Kolkata – 700016, West Bengal
Tel. No.:	91-33-44035435
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.04.1995
Com. Reg. No.:	071253
Capital Investment / Paid-up Capital :	Rs. 0.505 Million
CIN No.: [Company Identification No.]	U27108WB1995PLC071253
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited liability Company
Line of Business :	Subject is engaged in the cultivation, manufacturing and selling of bulk and packaged teas and also engaged in the manufacturing of steel speciality steel and value added steel products
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

A (68)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 8600000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a well-established company having fine track record. The rating reflects company’s healthy operational risk profile marked by adequate financial base and decent profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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	ICRA
Rating	Fund Based Limits AA-
Rating Explanation	High degree of safety and very low credit risk.
Date	March 2014

Rating Agency Name	ICRA
Rating	Commercial Paper A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	March 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) DEFAILTERS’ 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 DENIED

Management Non Co-operative (91-33-44035455)

LOCATIONS

Registered Office :	15 Park Street, Kolkata – 700016, West Bengal
Tel. No.:	91-33-44035435
Fax No.:	91-33-22172075
E-Mail :	apjaccountscal@apeejaygroup.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Karan Paul

Designation :

Director

Address :

13A, Alipore Road, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

03.11.1969

Date of Appointment :

30.09.2013

PAN No. :

AENPP1798P

DIN No. :

00007240

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	U01132AS1977PLC001714	APEEJAY TEA LIMITED	Director	06/08/1992	06/08/1992	-	Amalgamated	NO
2	U01131WB1977PLC030890	EMPIRE & SINGLO TEA LIMITED	Director	06/08/1992	06/08/1992	-	Amalgamated	NO
3	U60231WB1948PLC023608	APEEJAY SHIPPING LTD	Director	11/08/1992	11/08/1992	-	Active	NO
4	U67120WB1995PTC067960	APEEJAY SECURITIES PVT.LTD.	Director	30/01/1995	30/01/1995	-	Active	NO
5	U65910WB1993FLC060810	FAMILY CREDIT LIMITED	Director	23/07/2003	23/07/2003	18/04/2007	Active	NO
6	U74999WB2000PTC091312	APEEJAY SURRENDRA MANAGEMENT SERVICES PRIVATE LIMITED	Director	18/10/2004	18/10/2004	08/08/2011	Active	NO
7	U85110KA1987PLC008755	APEEJAY SURRENDRA PARK HOTELS LIMITED	Director	07/02/2005	07/02/2005	-	Active	NO
8	U70101WB2005PTC102910	ARTISTERY PROPERTIES PRIVATE LIMITED	Director	03/05/2005	03/05/2005	-	Active	NO
9	U65923WB2005PTC102911	APEEJAY INFRA-LOGISTICS PRIVATE LIMITED.	Director	03/05/2005	03/05/2005	-	Active	NO
10	U74999WB2005PTC102618	APEEJAY CHARTER PRIVATE LIMITED	Director	01/04/2006	01/04/2006	05/01/2012	Active	NO
11	U91990MH1979GAP021664	INDIAN NATIONAL SHIPOWNERS ASSOCIATION	Director	27/09/2006	27/09/2006	30/09/2010	Active	NO
12	U01132WB2007PTC116066	APEEJAY TYPHOO TEA PRIVATE LIMITED	Director	25/05/2007	25/05/2007	-	Amalgamated	NO
13	U35111WB2007PLC116261	BENGAL SHIPYARD LIMITED	Director	31/05/2007	31/05/2007	-	Active	NO
14	U60200WB2008PTC121406	APEEJAY LOGISTICS PARK PRIVATE LIMITED	Director	03/01/2008	03/01/2008	-	Active	NO
15	U35100WB2008PLC121530	OCEANIC SHIPYARD LIMITED	Director	08/01/2008	08/01/2008	-	Active	NO
16	U92412CH2008PTC031125	K.P.H. DREAM CRICKET PRIVATE. LIMITED.	Director	09/09/2009	16/01/2009	-	Active	NO
17	U85300WB1926GAP005585	INDIAN CHAMBER OF COMMERCE CALCUTTA	Director	27/06/2009	27/06/2009	02/07/2010	Active	NO
18	U27108WB1995PLC071253	APEEJAY TEA LIMITED	Director	30/09/2013	30/09/2013	-	Active	NO

Name :

Mr. Ashoke Ghosh

Designation :

Director

Address :

234 Jodhpur Park, 3^rd Floor, Kolkata – 700068, West Bengal, India

Date of Birth/Age :

11.11.1956

Date of Appointment :

21.05.2012

PAN No. :

ADTPG1858L

DIN No. :

00051311

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	U85110KA1987PLC008755	APEEJAY SURRENDRA PARK HOTELS LIMITED	Director	19/08/2002	19/08/2002	-	Active	NO
2	U74999WB2000PTC091312	APEEJAY SURRENDRA MANAGEMENT SERVICES PRIVATE LIMITED	Director	31/08/2003	31/08/2003	-	Active	NO
3	U27108WB1995PLC071253	APEEJAY TEA LIMITED	Director	21/05/2012	20/09/2004	-	Active	NO
4	U70109WB1979PTC032411	TRIVENI DEVELOPMENT PVT LTD	Director	01/11/2004	01/11/2004	-	Active	NO
5	U74999WB1959PTC031773	APEEJAY HOLDINGS PRIVATE LIMITED	Director	01/11/2004	01/11/2004	-	Active	NO
6	U70200WB1959PTC024193	AMINCHAND PAYARELAL PVT LTD	Director	01/11/2004	01/11/2004	-	Active	NO
7	U27101WB1979PTC032142	KATHUA STEEL WORKS PVT LTD	Director	01/11/2004	01/11/2004	17/02/2014	Active	NO
8	U32109WB1981PTC033823	ASIAN SIGNAL INDUSTRY PVT LTD	Director	01/11/2004	01/11/2004	17/02/2014	Active	NO
9	U74140WB1962PTC031500	APEEJAY AGENCIES PVT LTD	Director	01/11/2004	01/11/2004	17/02/2014	Active	NO
10	U67200WB2004PTC100880	APEEJAY INSURANCE BROKING SERVICES PRIVATE LIMITED	Director	28/12/2004	28/12/2004	-	Active	NO
11	U74999WB2005PTC102618	APEEJAY CHARTER PRIVATE LIMITED	Director	01/04/2005	01/04/2005	30/03/2013	Active	NO
12	U51109WB1953PTC020972	APEEJAY EXIMP PVT LTD	Director	25/04/2005	25/04/2005	17/02/2014	Active	NO
13	U70101WB2005PTC102910	ARTISTERY PROPERTIES PRIVATE LIMITED	Director	03/05/2005	03/05/2005	-	Active	NO
14	U65923WB2005PTC102911	APEEJAY INFRA-LOGISTICS PRIVATE LIMITED.	Director	03/05/2005	03/05/2005	-	Active	NO
15	U52392WB2000PTC091547	APEEJAY OXFORD BOOKSTORES PRIVATE LIMITED	Director	28/05/2005	28/05/2005	16/07/2014	Active	NO
16	U29219WB1959PTC032128	APEEJAY CHEMICAL INDUSTRIES P LTD.	Director	31/05/2005	31/05/2005	17/02/2014	Active	NO
17	U70102TG2003PTC041766	SKYLIGHT PROPERTIES PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
18	U55101TG2003PTC041769	SKYLIGHT HOTELS PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
19	U55101TG2003PTC041768	ROOSHNA HOTELS PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
20	U70102TG2003PTC041767	ROOSHNA ESTATES PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
21	U55101TG2003PTC041157	ORCHARD PARK HOTELS PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
22	U55101TG2003PTC041770	OAK PARK HOTELS PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
23	U55101TG2003PLC040978	LAKE PLAZA HOTELS LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
24	U55101TG2003PTC041159	LAKE PARK HOTELS PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
25	U55101TG2003PTC040976	INNSIGNIA HOTELS PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
26	U55101TG2003PTC041158	CHELSEA HOTELS PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Amalgamated	NO
27	U45201WB1961PTC025033	APEEJAY DEVELOPMENT PVT LTD	Director	25/04/2006	25/04/2006	17/02/2014	Active	NO
28	U74210WB1962PTC031501	APEEJAY ENGINEERING PVT LTD	Director	25/04/2006	25/04/2006	17/02/2014	Active	NO
29	U35111WB2007PLC116261	BENGAL SHIPYARD LIMITED	Director	31/05/2007	31/05/2007	-	Active	NO
30	U74999WB2007PTC120993	APEEJAY IMAGINE DESIGN SERVICES PRIVATE LIMITED	Director	12/12/2007	12/12/2007	05/05/2010	Active	NO
31	U60200WB2008PTC121406	APEEJAY LOGISTICS PARK PRIVATE LIMITED	Director	03/01/2008	03/01/2008	-	Active	NO
32	U35100WB2008PLC121530	OCEANIC SHIPYARD LIMITED	Director	08/01/2008	08/01/2008	-	Active	NO
33	U01132AS2006PTC008065	KHARJAN TEA ESTATES PRIVATE LIMITED	Director	26/09/2008	30/06/2008	-	Amalgamated	NO
34	U01132WB2007PTC116066	APEEJAY TYPHOO TEA PRIVATE LIMITED	Director	25/09/2008	30/06/2008	-	Amalgamated	NO
35	U67120WB1995PTC067960	APEEJAY SECURITIES PVT.LTD.	Director	07/09/2009	03/06/2009	-	Active	NO
36	U29248WB2009PTC136468	BENGAL HEAVY ENGINEERING PRIVATE LIMITED	Director	02/07/2009	02/07/2009	-	Active	NO
37	U27202DL1961PLC003533	ORIENTAL SPUN PIPE COMPANY LIMITED	Director	07/08/2009	07/08/2009	-	Active	NO
38	U55101WB1966PTC026889	APEEJAY HOUSE PRIVATE LIMITED	Director	27/09/2011	04/04/2011	14/08/2013	Active	NO
39	U52190WB2011PTC170022	APEEJAY LIFESTYLE PRIVATE LIMITED	Director	28/11/2011	28/11/2011	-	Active	NO
40	U74999WB2011PTC170100	APEEJAY BRAND MANAGEMENT PRIVATE LIMITED	Director	01/12/2011	01/12/2011	-	Active	NO
41	U74999DL2013PTC260509	Apeejay Support Solutions Private Limited	Director	22/11/2013	22/11/2013	15/03/2014	Active	NO

Name :

Mr. Ashok Kumar Bhargava

Designation :

Managing director

Address :

8B, Alipore Road, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

09.09.1956

Date of Appointment :

15.01.2011

PAN No. :

AHMPB3443P

DIN No. :

00640248

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	U01131WB1977PLC030890	EMPIRE & SINGLO TEA LIMITED	Director	01/04/2000	01/04/2000	-	Amalgamated	NO
2	U01132AS1977PLC001714	APEEJAY TEA LIMITED	Managing director	15/01/2010	01/12/2001	-	Amalgamated	NO
3	U01132AS2006PTC008065	KHARJAN TEA ESTATES PRIVATE LIMITED	Director	14/02/2006	14/02/2006	11/08/2008	Amalgamated	NO
4	U27108WB1995PLC071253	APEEJAY TEA LIMITED	Managing director	15/01/2011	15/01/2011	-	Active	NO

Name :

Mr. Om Kaul

Designation :

Director

Address :

Flat No - 6, 373/1, New Aplipore, Block G, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

05.12.1941

Date of Appointment :

28/02/2011

PAN No. :

AJQPK0933K

DIN No. :

00020821

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	U01132AS1977PLC001714	APEEJAY TEA LIMITED	Director	01/04/2003	01/04/2003	-	Amalgamated	NO
2	U27108WB1995PLC071253	APEEJAY TEA LIMITED	Director	28/02/2011	28/02/2011	-	Active	NO

Name :

Mr. Golam momen

Designation :

Director

Address :

5, Dover Park, Kolkata – 700019, West Bengal, India

Date of Birth/Age :

06.06.1933

Date of Appointment :

28.02.2011

PAN No. :

AEXPM8914Q

DIN No. :

00402662

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	L01132WB1918PLC002913	BAGHMARI TEA CO LTD	Director	29/09/2014	08/12/1971	-	Active	NO
2	L01132WB1977PLC031175	THE SCOTTISH ASSAM (INDIA) LTD	Director	27/09/1977	27/09/1977	-	Active	NO
3	U70109WB1980PTC032964	WHITE CLIFF PROPERTIES PRIVATE LIMITED	Director	01/03/1984	01/03/1984	-	Active	NO
4	L51909WB1983PLC036542	BENGAL TEA & FABRICS LTD	Director	09/08/2014	05/12/1987	-	Active	NO
5	U01131WB1977PLC030890	EMPIRE & SINGLO TEA LIMITED	Director	11/12/1990	11/12/1990	-	Amalgamated	NO
6	U01132AS1977PLC001714	APEEJAY TEA LIMITED	Director	11/12/1990	11/12/1990	-	Amalgamated	NO
7	U15491WB1995PTC073997	WHITE CLIFF TEA PVT LTD	Whole-time director	01/04/2014	05/09/1995	-	Active	NO
8	U51226WB1997PTC084170	DOVER TEA PRIVATE LIMITED	Director	01/05/1997	01/05/1997	-	Active	NO
9	L51909WB1991PLC053283	KANCO ENTERPRISES LIMITED	Director	06/04/1998	06/04/1998	28/06/2013	Active	NO
10	U70101WB1985PTC039340	WHITE CLIFF HOLDINGS PVT LTD	Director	01/04/1999	01/04/1999	-	Active	NO
11	L17110GJ1948PLC000753	DIGJAM LIMITED	Director	05/09/2014	31/01/2000	-	Active	NO
12	L01119KL1978PLC002947	HARRISONS MALAYALAM LTD	Director	01/10/2014	22/09/2003	-	Active	NO
13	L01132WB1949PLC017715	WILLIAMSON MAGOR & CO.LTD.	Director	10/09/2014	23/03/2005	-	Active	NO
14	L15491WB1983PLC035793	KANCO TEA & INDUSTRIES LIMITED	Director	13/08/2014	29/04/2010	-	Active	NO
15	U27108WB1995PLC071253	APEEJAY TEA LIMITED	Director	28/02/2011	28/02/2011	-	Active	NO
16	U45400MH2011PTC221663	WHITE CLIFF CONSTRUCTION COMPANY PRIVATE LIMITED	Director	07/09/2011	07/09/2011	-	Active	NO
17	U45203MH2012PTC225772	WHITE CLIFF INFRASTRUCTURE PRIVATE LIMITED	Director	05/01/2012	05/01/2012	-	Active	NO

Name :

Mr. Debanjan Mandal

Designation :

Director

Address :

93/3A/2, Acharya Prafulla Chandra Road, Kolkata – 700009, West Bengal, India

Date of Birth/Age :

26.08.1973

Date of Appointment :

28.02.2011

PAN No. :

AANPM6755B

DIN No. :

00469622

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	U01132AS1977PLC001714	APEEJAY TEA LIMITED	Director	07/11/2002	07/11/2002	-	Amalgamated	NO
2	U27108WB1995PLC071253	APEEJAY TEA LIMITED	Director	28/02/2011	28/02/2011	-	Active	NO
3	U74999WB2012PTC179152	FOX & MANDAL CONSULTANCY SOLUTIONS PRIVATE LIMITED	Director	30/03/2012	30/03/2012	-	Active	NO

Name :

Mr. Mahabir Prasad Sharma

Designation :

Whole-time director

Address :

Talap Tea Estate , Village, P.S. Doomdooma, Out-Post Talap, P.O Talap, Tinsukia – 786156, Assam, India

Date of Birth/Age :

10.101960

Date of Appointment :

31.03.2012

PAN No. :

ANEPS9691Q

DIN No. :

02281072

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	U01132AS2006PTC008065	KHARJAN TEA ESTATES PRIVATE LIMITED	Director	26/09/2008	30/06/2008	-	Amalgamated	NO
2	U27108WB1995PLC071253	APEEJAY TEA LIMITED	Whole-time director	31/03/2012	31/03/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Debasish roychowdhury
Designation :	Secretary
Address :	437, New Santoshpur Main Road, Flat No. C-2, Roopkatha Apartment, Kolkata – 700075, West Bengal, India
Date of Birth/Age :	31.01.1977
Date of Appointment :	12.09.2011
PAN No. :	AKUPR3381D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Kathua Steel Works Private Limited	29,600	58.64%
Assam Frontier Tea Holdings Limited	13,058	25.87%
Apeejay House Private Limited	3,308	6.55%

As on 30.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	32.14
Bodies corporate	67.11
Other	0.75
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the cultivation, manufacturing and selling of bulk and packaged teas and also engaged in the manufacturing of steel speciality steel and value added steel products

Products :

Item Code No. (ITC Code)	Product Description
09024090	Bulk Tea

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	HDFC Bank Limited
Branch Address	HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, 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

• Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

• Axis Bank Limited, Corporate Banking Branch (CBB), 1, Shakespeare Sarani, AC Market, 3^rd Floor, Kolkata - 700071, West Bengal, India

• DBS Bank Limited, 4A, Nandalal Basu Sarani, Kolkata - 700071, West Bengal, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Rupee term loans from banks	5.300	7.900
Foreign currency term loans from banks	639.200	366.700
Term loans from others	34.700	37.300
	0	0
SHORT TERM BORROWINGS	0	0
Rupee term loans from banks	150.000	0.000
Working capital loans from banks	368.500	87.500
Total	1197.700	499.400

Auditors :
Name :	Messers Price Waterhouse
Address :	Price Water House, Plot No Y14, Block - EP, Sector- V, Saltlake Electronic Complex, Bidhan Nagar, Kolkata – 700097, West Bengal, India
PAN No. :	AAEFP3641G
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Kathua Steel Works Private Limited
Fellow Subsidiary Company :	Apeejay Surrendra Management Services Private Limited Apeejay Private Limited
Joint Venture	Apeejay Tea (Panama) Inc.

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
16000000	Equity Shares	Rs. 10/- each	Rs. 160.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50480	Equity Shares	Rs. 10/- each	Rs. 0.505 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	0.500	0.500	0.500
(b) Reserves & Surplus	3019.500	2662.000	2425.500
(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)	3020.000	2662.500	2426.000
(3) Non-Current Liabilities
(a) long-term borrowings	679.200	411.900	369.200
(b) Deferred tax liabilities (Net)	29.600	33.800	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)	708.800	445.700	369.200
(4) Current Liabilities
(a) Short term borrowings	518.500	410.000	297.500
(b) Trade payables	291.700	225.200	187.400
(c) Other current liabilities	443.400	375.400	431.700
(d) Short-term provisions	176.600	153.700	165.300
Total Current Liabilities (4)	1430.200	1164.300	1081.900
TOTAL	5159.000	4272.500	3877.100
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2661.400	2599.500	2641.800
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	35.800	18.500	0.500
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	364.100	367.000	366.800
(c) Deferred tax assets (net)	0.000	0.000	8.600
(d) Long-term Loan and Advances	180.500	153.500	149.700
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3241.800	3138.500	3167.400
(2) Current assets
(a) Current investments	68.800	349.300	0.000
(b) Inventories	419.500	316.700	360.600
(c) Trade receivables	174.100	113.000	168.400
(d) Cash and cash equivalents	25.100	18.900	14.800
(e) Short-term loans and advances	1045.500	242.800	78.200
(f) Other current assets	184.200	93.300	87.700
Total Current Assets	1917.200	1134.000	709.700
TOTAL	5159.000	4272.500	3877.100

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	3863.400	3862.200	3127.800
	Other Income	105.600	66.000	73.900
	TOTAL (A)	3969.000	3928.200	3201.700
Less	EXPENSES
	Cost of Materials Consumed	379.900	418.900	282.700
	Purchases of Stock-in-Trade	0.000	23.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(99.000)	88.400	7.500
	Employees benefits expense	1747.900	1618.000	1485.800
	Other expenses	1334.400	1194.500	1006.000
	TOTAL (B)	3363.200	3342.800	2782.000
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	605.800	585.400	419.700
Less	FINANCIAL EXPENSES (D)	78.400	64.100	96.600
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	527.400	521.300	323.100
Less/ Add	DEPRECIATION/ AMORTISATION (F)	112.800	121.400	94.500
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	414.600	399.900	228.600
Less	TAX (H)	67.900	103.700	54.200
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	346.700	296.200	174.400
	EARNINGS IN FOREIGN CURRENCY	605.000	925.800	663.100
	Earnings / (Loss) Per Share (Rs.)	6868.00	5832.00	3393.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	131.200	101.100	92.000
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	8.97	7.67	5.58
Operating Profit Margin (PBIDT/Sales)	(%)	15.68	15.16	13.42
Return on Total Assets (PBT/Total Assets}	(%)	8.71	10.29	6.53
Return on Investment (ROI) (PBT/Networth)		0.14	0.15	0.09
Debt Equity Ratio (Total Liability/Networth)		0.44	0.35	0.31
Current Ratio (Current Asset/Current Liability)		1.34	0.97	0.66

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	0.500	0.500	0.500
Reserves & Surplus	2425.500	2662.000	3019.500
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2426.000	2662.500	3020.000
long-term borrowings	369.200	411.900	679.200
Short term borrowings	297.500	410.000	518.500
Current Maturities of Long Term Debt	92.000	101.100	131.200
Total borrowings	758.700	923.000	1328.900
Debt/Equity ratio	0.313	0.347	0.440

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	3127.800	3862.200	3863.400
		23.480	0.031

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	3127.800	3862.200	3863.400
Profit	174.400	296.200	346.700
	5.58%	7.67%	8.97%

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	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	Yes
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS

CALCUTTA HIGH COURT

CASE STATUS INFORMATION SYSTEM

Case Status : Pending

Status of INCOME TAX APPEAL TENDERED 137 of 2012

COMMISSIONER OF INCOME TAX, CENTRAL –I K Vs M/S APEEJAY TEA LTD.

Pet’s Adv. : G.S. MAKKER

Res’s Adv. :

Court No. : 9 Last listed On : Monday, June 15, 2015

Category : Income TAX : Revenue

CONNECTED APPLICATION (S)	CONNECTED MATTER (S)
No Connected application.	No Connected cases.

Case Updated on : Friday, June 12, 2015

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
Foreign currency term loans from banks	0.000	298.800
Working capital loans from banks	0.000	23.700
Total	0.000	322.500

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10575235	09/06/2015	200,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	C56595820
2	10545594	26/12/2014	4,594,320.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	C41669649
3	10543715	29/03/2014	12,387,248.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	C26565556
4	10473980	12/12/2014 *	375,000,000.00	DBS BANK LTD.	4A, NANDALAL BASU SARANI, KOLKATA, West Bengal - 700071, INDIA	C36923621
5	10457057	16/09/2013	215,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B88306444
6	10434166	13/09/2013 *	135,000,000.00	DBS BANK LTD. (Acting as an Security Agent)	4A, Nandalal Basu Sarani, Kolkata, West Bengal - 700071, INDIA	B85464006
7	10434585	11/06/2013	150,000,000.00	DBS BANK LTD.	4A, Nandalal Basu Sarani, Kolkata, West Bengal - 700071, INDIA	B78612009
8	10434586	05/03/2014 *	100,000,000.00	DBS BANK LTD.	4A, NANDALAL BASU SARANI, KOLKATA, West Bengal - 700071, INDIA	C00498550
9	10426053	05/03/2014 *	100,000,000.00	AXIS BANK LIMITED	CORPORATE BANKING BRANCH (CBB), 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR, KOLKATA, West Bengal - 700071, INDIA	C03928900
10	10406743	10/01/2013	350,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B69074029

* Date of charge modification

FIXED ASSETS

• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Plantations

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 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] 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. 63.64
UK Pound	1	Rs. 100.41
Euro	1	Rs. 71.63

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		68

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.