MIRA INFORM REPORT

Report No. :	310747
Report Date :	07.03.2015

IDENTIFICATION DETAILS

Name :	BEST AGROCHEM PRIVATE LIMITED (w.e.f. 09.10.2012)
Formerly Known As :	VVK TRADERS PRIVATE LIMITED
Registered Office :	S – 1A, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi - 110026
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.12.2007
Com. Reg. No.:	55-171008
Capital Investment / Paid-up Capital :	Rs. 12.794 Million
CIN No.: [Company Identification No.]	U24100DL2007PTC171008
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company.
Line of Business :	Trader of Agrochemicals Insecticides, Herbicides, Fungicides etc.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 60000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate operational risk profile marked by leverage capital structure and low profitability margins of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution.

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Ms. Rashmi Sharma
Designation :	Marketing Manger
Contact No.:	91-8285506264
Date :	04.03.2015

LOCATIONS

Registered Office :	S – 1A, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi - 110026, India
Tel. No.:	91-11-45654000 / 04 /45093517
Mobile No.:	91-8285506264 (Ms. Rashmi Sharma)
Fax No.:	91-11-45093518
E-Mail :	info@bestagrochem.in chetna.bestagrochem@gmail.com
Website :	http://www.bestagrochem.in
Corporate Office :	A-352, Meera Bagh, Paschim Vihar, New Delhi – 110087, India
Tel. No.:	91-11-45803200 / 43022600

DIRECTORS

AS ON 20.09.2014

Name :

Mr. Vimal Kumar

Designation :

Director

Address :

D-22, Bhagwandass Nagar, east Punjabi Bagh, New Delhi - 110026, India

Date of Birth/Age :

06.03.1978

Date of Appointment :

03.12.2007

DIN No. :

01260082

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	U24119DL2003PTC122977	PAVAS CHEMICALS PRIVATE LIMITED	Director	30/03/2005	30/03/2005	-	Active	NO
2	U24100DL2007PTC170947	BEST CHEMICALS PRIVATE LIMITED	Director	30/11/2007	30/11/2007	-	Active	NO
3	U24100DL2007PTC171008	BEST AGROCHEM PRIVATE LIMITED	Director	03/12/2007	03/12/2007	-	Active	NO
4	U51109HR2009PTC039708	BEST CROP SCIENCE PRIVATE LIMITED	Director	17/11/2009	17/11/2009	15/07/2010	Active	NO
5	U64100HR2010PTC040792	TRIPLE PLAY TELECOM PRIVATE LIMITED	Director	12/11/2011	12/11/2011	24/12/2011	Active	NO
6	U74999DL1991PLC043236	PIONEER PRODUCTS LIMITED	Additional director	24/12/2014	24/12/2014	-	Active	NO

Name :

Mrs. Vandana alawadhi

Designation :

Director

Address :

D-22, Bhagwandass Nagar, east Punjabi Bagh, New Delhi - 110026, India

Date of Birth/Age :

27.02.1977

Date of Appointment :

03.12.2007

DIN No. :

01831191

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	U24100DL2007PTC171008	BEST AGROCHEM PRIVATE LIMITED	Director	03/12/2007	03/12/2007	-	Active	NO
2	U51109HR2009PTC039708	BEST CROP SCIENCE PRIVATE LIMITED	Director	17/11/2009	17/11/2009	15/07/2010	Active	NO

KEY EXECUTIVES

Name :	Ms. Rashmi Sharma
Designation :	Marketing Manger

MAJOR SHAREHOLDERS

As on 20.09.2014

Names of Shareholders	No. of Shares
Vimal Kumar	670000
Vandana Allawadhi	9000
Kamal Kumar	150100
Anil Kumar Madan	50000
Ashok Jain	100
Priyanka Jain	1100
Shashi Jain	1100
Mohint Kumar	1000
Bhagirath	2000
Chander Bhan	1000
Mohan Lal Arora	1000
Ranjana Madan	36000
Ganga Gwar Gum Inds	1000
Bhagwan Dass Vijay Kumar	1000
Kamal Kumar HUF	90000
Sawi Bhutani	20000
Raj Kumar Alwadhi	100000
Suman Rani	1000
Mahveer Parsad	1000
Ved Parkash Madan	135000
Sawaran Lata	1000
Kiran	1000
Dimpal Kumar	1000
Ram Wati	1000
Janender Kansal	1000
Anand Mohan HUF	1000
Usha Rani	1000
Balwant Jain	1000
Total	1279400

As on 20.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	65.00
Other top fifty shareholders	35.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Agrochemicals Insecticides, Herbicides, Fungicides etc.
Products :	Agrochemicals Insecticides Herbicides Fungicides etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Countries :	China
Terms :	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 :

30 (Approximately)

Bankers :

Banker Name	Punjab National Bank
Branch Address	Dabra Chowk Branch, Delhi Road, Hisar – 125005, Haryana, 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

DBS Bank Limited, Capitol Point, Baba Kharak Singh Marg, Connaught Place New Delhi – 110001, India

ICICI Bank Limited, Landmarkrace Cource circle, Alkapuri, Vadodara – 390015, Gujarat, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Rupee term loans from banks	6.201	0.342
Rupee term loans from others	2.108	3.213
SHORT TERM BORROWINGS
Working capital loans from banks	95.381	2.940
Total	103.690	6.495

Auditors :
Name :	Shph and Associates Chartered Accountants
Address :	N-44, ground Floor, Kirti Nagar, New Delhi – 110015, India
PAN No.:	AASFS1596D
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 20.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1279400	Equity Shares	Rs.10/- each	Rs. 12.794 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	12.794	12.794	12.794
(b) Reserves & Surplus	8.315	4.645	1.865
(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)	21.109	17.439	14.659
(3) Non-Current Liabilities
(a) long-term borrowings	80.823	38.595	35.794
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	80.823	38.595	35.794
(4) Current Liabilities
(a) Short term borrowings	95.381	2.940	9.888
(b) Trade payables	233.528	127.093	142.694
(c) Other current liabilities	21.505	0.760	0.301
(d) Short-term provisions	0.059	0.450	0.346
Total Current Liabilities (4)	350.473	131.243	153.229
TOTAL	452.405	187.277	203.682
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12.653	6.619	2.828
(ii) Intangible Assets	0.044	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.388	0.145	0.101
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.279	0.375	0.319
Total Non-Current Assets	13.364	7.139	3.248
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	95.153	40.182	98.738
(c) Trade receivables	298.783	124.017	71.659
(d) Cash and cash equivalents	7.786	10.632	10.266
(e) Short-term loans and advances	0.000	0.000	5.739
(f) Other current assets	37.319	5.307	14.032
Total Current Assets	439.041	180.138	200.434
TOTAL	452.405	187.277	203.682

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL INCOME	1301.742	660.185
Less	EXPENSES
	Operating and admin. Expenses	1293.936	655.142
	TOTAL	1293.936	655.142
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	7.806	5.043	NA
Less/ Add	DEPRECIATION/ AMORTISATION	2.467	1.012
	PROFIT/ (LOSS) BEFORE TAX	5.339	4.031
Less	TAX	1.670	1.251
	PROFIT/ (LOSS) AFTER TAX	3.669	2.780	0.571
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	4.644	1.864	1.293
	Balance Carried to the B/S	8.313	4.644	1.864
	Earnings / (Loss) Per Share (Rs.)	2.87	2.17	0.45

Expected Sales (2014-2015) : Rs. 2000.000 Million

The above information has been parted by Ms. Rashmi Sharma

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	1.18	2.15	7.14
Return on Investment (ROI) (PBT/Networth)		0.25	0.23	0.99
Debt Equity Ratio (Total Debt /Networth)		8.35	2.38	3.12
Current Ratio (Current Asset/Current Liability)		1.25	1.37	1.31

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	12.794	12.794	12.794
Reserves & Surplus	1.865	4.645	8.315
Net worth	14.659	17.439	21.109
long-term borrowings	35.794	38.595	80.823
Short term borrowings	9.888	2.940	95.381
Total borrowings	45.682	41.535	176.204
Debt/Equity ratio	3.116	2.382	8.347

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Income	660.185	1301.742
		97.178

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Income	660.185	1301.742
Profit	2.780	3.669
	0.42%	0.28%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	------------------------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

REVIEW OF OPERATION:

During the year, the Company has earned of Rs. 1301.742 Million as against Rs. 660.185 Million during the previous financial year. The net profit for the year under review has been Rs. 3.669 Million as against Rs. 2.780 Million during the previous financial year. The Directors are continuously looking for avenues for future growth of the Company in Agro Chemicals industry.

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Other loans and advances, others	72.514	35.040
Total	72.514	35.040

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10524915	24/09/2014	90,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	C28630994
2	10411240	05/03/2013	160,000,000.00	DBS BANK LIMITED	CAPITOL POINT, BABA KHARAK SINGH MARG, CONNAUGHT  PLACE, NEW DELHI, Delhi - 110001, INDIA	B70597935

* Date of charge modification

FIXED ASSETS

• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Plant and equipment

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. 62.20
UK Pound	1	Rs. 94.71
Euro	1	Rs. 68.60

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.