MIRA INFORM REPORT

Report No. :	329500
Report Date :	29.06.2015

IDENTIFICATION DETAILS

Name :	INTERGROW FOODS AND BEVERAGES PRIVATE LIMITED (w.e.f. 16.12.2013)
Formerly Known As :	KEYA FOODS AND BEVERAGES PRIVATE LIMITED
Registered Office :	62/1814-A, Ajay Vihar, M.G. Road, Ernakulam – 682 016, Kerala
Tel. No.:	91-484-3012222
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.10.2013
Com. Reg. No.:	09-035116
Capital Investment / Paid-up Capital :	Rs.10.100 million
CIN No.: [Company Identification No.]	U15500KL2013PTC035116
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CHNI01555B
PAN No.: [Permanent Account No.]	AAFCK3763N
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is primarily engaged in the business of processing, packing, trading, exporting, distributing and dealing in all kinds of foods and beverages.
No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though, the company has been incorporated on 1^st October 2013, it is yet to commence its business operations. Mr. Dilip (Finance Head), provided all general information, further he has not confirmed anything regarding business operation. As per director’s report, the company is expected to commence commercial operation during the financial year 2014-2015. Further, company has recorded some pre-operating expenses. However, business is active as per status shown in registrar of the company. Payment terms are unknown. The company can be considered for business dealings with fully safe and secured 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY (PARTIAL DETAILS)

Name :	Mr. Dilip
Designation :	Finance Head
Contact No.:	91-484-3012222
Date :	29.06.2015

LOCATIONS

Registered Office/ Corporate Office/ Warehouse :	62/1814-A, Ajay Vihar, M.G. Road, Ernakulam – 682 016, Kerala, India
Tel. No.:	91-484-3012222
Fax No.:	91-484-2378801
E-Mail :	feedback@kitchentreasures.in dilip@intergrowfoods.com gokul@synthite.com
Website :	http://www.kitchentreasures.in
Location :	Owned
Locality :	Industrial
Head Office :	Mahatma Gandhi Road, Valanjambalam, Ernakulam – 682 016, Kerala, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Ashok Mani

Designation :

Managing Director

Address :

House No.28/838, Cheruparambath Road, Kadavanthara, Ernakulam – 682 020, Kerala, India

Date of Birth/Age :

24.09.1987

Date of Appointment :

24.06.2014

DIN No.:

06846169

Name :

Mr. Mathews Jacob

Designation :

Director

Address :

Kottamala House, 10/650-D, Kusumagiri P.O., Kakkanad, Ernakulam – 682 030, Kerala, India

Date of Birth/Age :

21.05.1960

Date of Appointment :

30.09.2014

DIN No.:

06846170

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	U24117KL2006PTC019196	SYMEGA FLAVOURS (INDIA) PRIVATE LIMITED	Director	30/09/2014	28/03/2014	-	Active	NO
2	U15500KL2013PTC035116	INTERGROW FOODS AND BEVERAGES PRIVATE LIMITED	Director	30/09/2014	24/06/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dilip
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders (Equity Shares)	No. of Shares
Paul George	1
Symega Savoury Technology Limited, India	9999
Total	10000

Names of Shareholders (Preference Shares)	No. of Shares
Symega Savoury Technology Limited, India	53000
Total	53000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00

BUSINESS DETAILS

Line of Business :	Subject is primarily engaged in the business of processing, packing, trading, exporting, distributing and dealing in all kinds of foods and beverages.
Products :	Spices Pickles, etc.
Brand Names :	“KITCHEN TREASURES”
Agencies Held :	Not Available
Exports :
Products :	Foods and Beverages
Countries :	United States of America Middle East Europe
Imports :	Not Available
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

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

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

Customers :

Retailers and End Users

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

70 (Approximately)

Bankers :

Banker Name	Not Divulged
Branch Address	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 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

Banking Relations :	--
Auditors :
Name :	Balan and Company Chartered Accountants
Address :	39/181-D, Anantha Mahakavi G Road, Karikkamuri, Kochi – 682 011, Kerala, India
Income-tax PAN of auditor or auditor's firm :	AACFB8966C
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Symega Savoury Technology Limited, India CIN No.: U51225KL2006PLC019598
Subsidiary Company :	Intergrow Holdings Private Limited
Sister Concern Company (As confirmed by the Management) :	Symega Flavours (India) Private Limited Address: 30/2032, Ajay Vihar, M.G. Road, Ernakulam – 682 016, Kerala, India

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million
119900	Preference Shares	Rs.1000/- each	Rs.119.900 million
	Total		Rs.120.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million
53000	Preference Shares	Rs.1000/- each	Rs.53.000 million
	Total		Rs.53.100 million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million
119900	6.5% Preference Shares	Rs.1000/- each	Rs.119.900 million
	Total		Rs.120.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million
10000	6.5% Preference Shares	Rs.1000/- each	Rs.10.000 million
	Total		Rs.10.100 million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I.              EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	10.100
(b) Reserves & Surplus	(0.893)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	9.207
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.000
(4) Current Liabilities
(a) Short term borrowings	0.627
(b) Trade payables	0.000
(c) Other current liabilities	0.110
(d) Short-term provisions	0.006
Total Current Liabilities (4)	0.743
TOTAL	9.950
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.204
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	7.742
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	7.946
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	1.891
(e) Short-term loans and advances	0.112
(f) Other current assets	0.001
Total Current Assets	2.004
TOTAL	9.950

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Income	0.000
		Other Income	0.019
		TOTAL	0.019
Less	EXPENSES
		Other Expenses	0.165
		TOTAL	0.165
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.146)
Less/ Add	DEPRECIATION/ AMORTISATION		0.741
	PROFIT/ (LOSS) BEFORE TAX		(0.887)
Less	TAX		0.006
	PROFIT/ (LOSS) AFTER TAX		(0.893)
	Earnings/ (Loss) Per Share (Rs.)		(89.33)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014
Current Maturities of Long term debt	NA
Net Cash from Operating Activities	(0.168)

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT / Sales)	(%)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(40.17)
Return on Investment (ROI) (PBT/Networth)		(0.10)
Debt Equity Ratio (Total Debt /Networth)		0.07
Current Ratio (Current Asset/Current Liability)		2.70

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
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 about 6 months	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last about 6 months	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

BACKGROUND:

The company was incorporated on 01.10.2013. It is primarily engaged in the business of processing and marketing different kinds of foods and beverages. It has not yet commenced commercial operations. Currently it is under the process of developing brand and market Image for its products.

COMPANY PERFORMANCE:

The Company was established primarily to carry on the business of processing, packing, trading, exporting and importing, distributing and dealing in all kinds of foods and beverages.

With the intent to cater to the ever growing spices market across the globe, the Company is in the process of setting up a full-fledged supply chain. The Company is expected to commence commercial operation during the financial year 2014-2015.

The net loss of the Company stood at Rs.0.893 million for the year mainly on account of incorporation related expenses.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)
SHORT-TERM BORROWINGS
Loan from Holding Company	0.627
Total	0.627

INDEX OF CHARGES:

No Charges Exist for Company.

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2014 (Rs. in Million)
Contingent Liabilities not provided for in respect of:
Guarantee given by Bank on behalf of Company	0.051

FIXED ASSETS:

· Computers and Accessories

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.63.60
UK Pound	1	Rs.100.09
Euro	1	Rs.71.23

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KIN
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.