MIRA INFORM REPORT

Report No. :	319206
Report Date :	02.05.2015

IDENTIFICATION DETAILS

Name :	C. P. AQUACULTURE (INDIA) PRIVATE LIMITED

Registered Office :	No : 40, 2^nd Street, 1^st Floor, F1, Sparton Nagar, Mugappair East, Chennai – 600037, Tamilnadu
Tel. No.:	91-44-26419467 / 68 / 69 / 26419545 / 46 / 47

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	17.11.1994

Com. Reg. No.:	18-029251

Capital Investment / Paid-up Capital :	Rs. 250.000 Million

CIN No.: [Company Identification No.]	U05001TN1994PTC029251

IEC No.:	0495005568

TAN No.: [Tax Deduction & Collection Account No.]	CHEC01027F

PAN No.: [Permanent Account No.]	AAACC1316Q

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, Exporter and Importer of Prawn Feed, Processed Shrimp and Soyabean Meal Super Grade.

No. of Employees :	Not Divulged

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 11000000

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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 31-03-2014.

LOCATIONS

Registered Office :	No : 40, 2^nd Street, 1^st Floor, F1, Sparton Nagar, Mugappair East, Chennai – 600037, Tamilnadu, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	Camoorthy18@gmail.com

Factory :	104, G N T Road, Nallur and Vijayanallur Village, Sholavaram Post, Red Hills, Chennai – 600067, Tamilnadu, India
Tel. No.:	91-44-26419467 / 68 / 69 / 26419545 / 46 / 47
Fax No.:	91-44-26419466 / 9544
E-Mail :	aqua_mkt@mycpindia.com cpaqua@vsnl.com cpimkt@vsnl.net info@mycpindia.com cpmds@vsnl.com
Website:	webmaster@mycpindia.com

DIRECTORS

As on: 30.09.2014

Name :

Mr. Kwanchai Chaiprem

Designation :

Director

Address :

F1, 1^st Floor, No. 40, 2^nd Strret, Sparton Nagar, Mugappair East, Chennai – 600037, Tamilnadu, India

Date of Birth/Age :

15.03.1965

Date of Appointment :

23.02.2004

DIN No.:

00335543

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	U05001TN1994PTC029251	C.P.AQUACULTURE (INDIA) PRIVATE LIMITED	Director	23/02/2004	23/02/2004	-	Active	NO
2	U15500TN2012PTC085688	CHAROEN POKPHAND FOODS (INDIA) PRIVATE LIMITED	Director	01/05/2012	01/05/2012	-	Under Process of Striking off	NO
3	U29253TN2012PTC085873	BANGKOK PRODUCE MERCHANDISING (INDIA) PRIVATE LIMITED	Director	14/05/2012	14/05/2012	-	Under Process of Striking off	NO
4	U15137TN2013PTC089837	CHAROEN POKPHAND TRADING (INDIA) PRIVATE LIMITED	Director	08/04/2013	08/04/2013	-	Active	NO

Name :

Mr. Soontorn Tuntanatewin

Designation :

Director

Address :

F1, 1^st Floor, No. 40, 2^nd Strret, Sparton Nagar, Mugappair East, Chennai – 600037, Tamilnadu, India

Date of Birth/Age :

14.12.1963

Date of Appointment :

10.03.2005

DIN No.:

00347334

Name :

Mr. Chaiyaporn Montha

Designation :

Director

Address :

F1, 1^st Floor, No. 40, 2^nd Strret, Sparton Nagar, Mugappair East, Chennai – 600037, Tamilnadu, India

Date of Birth/Age :

20.02.1953

Date of Appointment :

10.03.2005

DIN No.:

02976129

Name :

Mr. Pong Visedpaitoon

Designation :

Director

Address :

F1, 1^st Floor, No. 40, 2^nd Strret, Sparton Nagar, Mugappair East, Chennai – 600037, Tamilnadu, India

Date of Birth/Age :

01.01.1945

Date of Appointment :

23.02.2004

DIN No.:

03015231

Name :

Mr. Chingchai Lohawatanakul

Designation :

Director

Address :

F1, 1^st Floor, No. 40, 2^nd Strret, Sparton Nagar, Mugappair East, Chennai – 600037, Tamilnadu, India

Date of Birth/Age :

29.01.1939

Date of Appointment :

26.02.1995

DIN No.:

03161839

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2014

Names of Shareholders	No. of Shares	%age
Charoen Pokphand Group Company Limited, Thailand	7700000	30.80
Charoen Pokphand Foods Public Company Limited, Thailand	7925000	31.70
CT Progressive Investment Private Limited, British Virgin Islands	3125000	12.50
P T. Central Proteinaprima, Indonesia	6250000	25.00
Total	25000000	100.00

Equity Share Break up (Percentage of Total Equity)

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	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Prawn Feed, Processed Shrimp and Soyabean Meal Super Grade.

Products :

Item Code No. (ITC Code)	Product Description
23061605	Processed Shrimp

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

Customers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

No. of Employees :

Not Available

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 Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Auditors :
Name :	VDSR and Company Chartered Accountant
Address :	337 Karuna Complex, GF 7, Sampige Road, Maleshwaram – 560003, Bangalore, India
PAN No.:	AAAFK0778M

Memberships :	Not Available

Collaborators :	Not Available

Associates :	Charoen Pokphand Group Company Limited CPF (India) Private Limited

CAPITAL STRUCTURE

As on: 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

25,000,000	Equity Shares	Rs.10/- each	Rs. 250.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

25,000,000	Equity Shares	Rs.10/- each	Rs. 250.000 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	250.000	250.000	250.000
(b) Reserves & Surplus	3559.762	3041.679	2839.719
(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)	3809.762	3291.679	3089.719

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	45.501	29.542	30.233
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	59.026	42.106	36.283
Total Non-current Liabilities (3)	104.527	71.648	66.516

(4) Current Liabilities
(a) Short term borrowings	200.000	0.000	0.000
(b) Trade payables	868.527	323.499	482.218
(c) Other current liabilities	261.766	69.958	109.309
(d) Short-term provisions	5.303	3.554	60.009
Total Current Liabilities (4)	1335.596	397.011	651.536

TOTAL	5249.885	3760.338	3807.771

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2208.290	1375.602	1005.599
(ii) Intangible Assets	1.312	1.926	2.112
(iii) Capital work-in-progress	139.955	611.082	305.125
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	187.049	88.970	66.503
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2536.606	2077.580	1379.339

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1562.353	1315.652	1248.134
(c) Trade receivables	420.201	22.063	205.373
(d) Cash and cash equivalents	541.778	178.086	698.024
(e) Short-term loans and advances	186.346	163.242	256.849
(f) Other current assets	2.601	3.715	20.052
Total Current Assets	2713.279	1682.758	2428.432

TOTAL	5249.885	3760.338	3807.771

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012

	SALES
		TOTAL	NA	NA	NA

	EXPENSES
		TOTAL	NA	NA	NA

	PROFIT/(LOSS) BEFORE TAX		792.167	295.192	979.671

Less	TAX		274.085	93.232	324.572

	PROFIT/(LOSS) AFTER TAX		518.082	201.960	655.099

	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	195.979	282.477	148.381

	Earnings Per Share (Rs.)		20.72	8.08	26.20

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	15.50	9.37	27.97

Return on Investment (ROI) (PBT/Networth)		0.21	0.09	0.32

Debt Equity Ratio (Total Debt /Networth)		0.05	0.00	0.00

Current Ratio (Current Asset/Current Liability)		2.03	4.24	3.73

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	250.000	250.000	250.000
Reserves & Surplus	2839.719	3041.679	3559.762
Net worth	3089.719	3291.679	3809.762

long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	200.000
Total borrowings	0.000	0.000	200.000
Debt/Equity ratio	0.000	0.000	0.052

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----------
22]	Litigations that the firm / promoter involved in	-----------
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	-----------
26]	Buyer visit details	-----------
27]	Financials, if provided	No
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Other loans and advances	200.000	0.000
Total	200.000	0.000

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

Land
Factory Building
Other Building
Plant and Machinery
Computer
Furniture and Fittings
Motor Car and Motor Cycle
Truck and Fork Lifts

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.63.57
UK Pound	1	Rs.97.98
Euro	1	Rs.70.53

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	JYTK

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	6
--CREDIT LINES	1~10	6
--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		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.

MIRA INFORM REPORT

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