MIRA INFORM REPORT

Report No. :	319829
Report Date :	05.05.2015

IDENTIFICATION DETAILS

Name :	RAYBAN FEEDS AND HATCHERIES PRIVATE LIMITED
Registered Office :	6/102, Rangasamuthiram Panikkampatti Post, Palladam, Tirupur – 641664 Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.05.2011
Com. Reg. No.:	18-017048
Capital Investment / Paid-up Capital :	Rs.10.000 Million
CIN No.: [Company Identification No.]	U01222TZ2011PTC017048
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CMBR06019G
PAN No.: [Permanent Account No.]	AAFCR2983P
Legal Form :	Private Limited Liability Company
Line of Business :	Company engaged in the poultry farming business.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 120000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has taken huge external borrowing which may act as a threat to its liquidity. However, the company has achieved decent increase in its turnover and it has fair profit margin during FY2014. Trade relations are reported to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings 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

Rating Agency Name	CRISIL
Rating	Long term rating = “BB-“
Rating Explanation	Moderate risk of default
Date	19.02.2015

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 DECLINED

Management non co-operative (91-4255-252278)

LOCATIONS

Registered Office :	6/102, Rangasamuthiram Panikkampatti Post, Palladam, Tirupur – 641664 Tamilnadu, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	rmfarms@gmail.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Iqram Ellalh

Designation :

Director

Address :

Khalil Ahmad, 1006, Kotla Mewatlyan, Harpur - 245101, Uttar Pradesh, India

Date of Birth/Age :

20.02.1971

Date of Appointment :

09.05.2011

DIN No.:

00435194

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	U93090UP2004PTC028957	RAYBAN ORGANICS PRIVATE LIMITED	Director	16/08/2004	16/08/2004	-	Active	NO
2	U15111DL2006PTC217073	RAYBAN FOODS PRIVATE LIMITED	Director	15/02/2006	15/02/2006	-	Active	NO
3	U01222TZ2011PTC017048	RAYBAN FEEDS AND HATCHERIES PRIVATE LIMITED	Director	09/05/2011	09/05/2011	-	Active	NO
4	U15122DL2014PTC274271	RAZEEN FOODS PRIVATE LIMITED	Director	18/12/2014	18/12/2014	-	Active	NO

Name :

Mr. Naushad Elalh

Designation :

Director

Address :

Hajl Haneef 1006, Kotla Mewatlyan, Harpur - 245101, Uttar Pradesh, India

Date of Birth/Age :

26.02.1978

Date of Appointment :

09.05.2011

DIN No.:

01136882

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	U93090UP2004PTC028957	RAYBAN ORGANICS PRIVATE LIMITED	Director	16/08/2004	16/08/2004	-	Active	NO
2	U15111DL2006PTC217073	RAYBAN FOODS PRIVATE LIMITED	Director	15/02/2006	15/02/2006	-	Active	NO
3	U01222TZ2011PTC017048	RAYBAN FEEDS AND HATCHERIES PRIVATE LIMITED	Director	09/05/2011	09/05/2011	-	Active	NO
4	U24233DL2007PTC164457	URVASHI BIOPHARMACEUTICAL COMPANY PRIVATE LIMITED	Additional director	18/12/2013	18/12/2013	-	Active	NO
5	U15122DL2014PTC263372	AL-AYAAN FOODS PRIVATE LIMITED	Director	10/01/2014	10/01/2014	-	Active	NO
6	U15122DL2014PTC263624	AL-NAUSHAD FOODS PRIVATE LIMITED	Director	16/01/2014	16/01/2014	-	Active	NO

Name :

Mr. Gnansundaram Vadlvel

Designation :

Director

Address :

PalanlSamy, 6/81, Rangasamuthlram, PanlKampattl, Palladam – 641664, Tamilnadu, India

Date of Birth/Age :

01.08.1960

Date of Appointment :

09.05.2011

DIN No.:

03516803

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	U01222TZ2011PTC017048	RAYBAN FEEDS AND HATCHERIES PRIVATE LIMITED	Director	09/05/2011	09/05/2011	-	Active	NO
2	U45200TZ2014PTC020524	PALLADAM HI-TECH INFRASTRUCTURES PRIVATE LIMITED	Director	04/07/2014	04/07/2014	-	Active	NO
3	U41000TZ2014PTC020571	PALLADAM WATER PROJECT PRIVATE LIMITED	Director	16/07/2014	16/07/2014	-	Active	NO

Name :

Mr. Gunasekar Rangasamutherm Palanlsamy

Designation :

Director

Address :

Vadlvel, Rangasarnuthlram, PanlKampattl, Palladam – 641664, Tamilnadu, India

Date of Birth/Age :

08.04.1967

Date of Appointment :

09.05.2011

DIN No.:

03516807

Name :

Mr. Vadlvel Harlharasudhan

Designation :

Director

Address :

Vadlvel No 1/112, VK. Palayam, Puliyampattl Po, Kardlvavl, Viva, Palladam - 641658, Tripura, Tamilnadu, India

Date of Birth/Age :

03.10.1985

Date of Appointment :

09.05.2011

DIN No.:

03516814

Name :

Mr. Vadlvel Vlshnubalaji

Designation :

Director

Address :

Vadlvel No 1/112, VK. Palayam, Puliyampattl Po, Kardlvavl, Viva, Palladam - 641658, Tripura, Tamilnadu, India

Date of Birth/Age :

25.09.1983

Date of Appointment :

09.05.2011

DIN No.:

03516815

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age
Iqram Ellalh	125000	12.50
Naushad Elaih	100000	10.00
Gnansundaram Vadlvel	125000	12.50
Gunasekar Rangasamutherm Palanlsamy	125000	12.50
Vadlvel Harlharasudhan	125000	12.50
Vadlvel VishnuBalal1	125000	12.50
Imrana Begum	125000	12.50
Siral Ahmed Qureshi	50000	5.00
Mumtal Elahl	100000	10.00
Total	1000000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Company engaged in the poultry farming business.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• K.K. Trading Company
• Ruchi Soya Industries
• Raj Traders
• Berg and Schmidt India Private Limited
• Madhur Highseas Private Limited
• Aarkay Poly Laminators Limited
• Adani Wilmar Limited

Reference :	Vetomin Animal Health
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 :

• Irfan Trader Gazipur
• Basir Trader- Lucknow
• Haii Pappu Hap Trader
• Mintu Singh Varanashi Trader
• Irfan Bulandshar Hapur Trader
• Seher Hahihapur Trader
• Karnal Poultry

Reference :	Aimal Bah Trader
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 :

Not Divulged

Bankers :

• Corporation Bank,2223, Hardyan Singh Road, Karol Bagh, New Delhi – 110005, Delhi, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from Banks	129.939	98.177
SHORT TERM BORROWING
Corporate Bank CC a/c	60.475	55.200
Total	190.414	153.377

Auditors :
Name :	Raja and Raman Chartered Accountants
Address :	1055/11 Gowtham Centre, Avinashi Road , Coimbatore - 641018 , Tamilnadu,. India
PAN No.:	AACFR3210R
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates/Subsidiaries :	Rayban Food Private Limited RMP Farms

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs.10/- each	Rs.30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/- each	Rs. 10.000 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	10.000	0.500	0.500
(b) Reserves & Surplus	18.573	6.142	1.649
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	13.500	18.500	9.500
Total Shareholders’ Funds (1) + (2)	42.073	25.142	11.649
(3) Non-Current Liabilities
(a) long-term borrowings	175.052	98.177	2.005
(b) Deferred tax liabilities (Net)	1.654	0.044	0.234
(c) Other long term liabilities	0.000	0.000	4.875
(d) long-term provisions	3.510	0.510	0.000
Total Non-current Liabilities (3)	180.216	98.731	7.114
(4) Current Liabilities
(a) Short term borrowings	60.475	100.267	22.467
(b) Trade payables	42.402	6.524	12.483
(c) Other current liabilities	4.216	0.000	0.000
(d) Short-term provisions	5.252	3.673	0.729
Total Current Liabilities (4)	112.345	110.464	35.679
TOTAL	334.634	234.337	54.442
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	118.048	34.700	27.420
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	86.219	110.578	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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	2.880	2.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	207.147	147.278	27.420
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	121.053	80.982	19.333
(c) Trade receivables	2.750	2.986	0.000
(d) Cash and cash equivalents	0.466	2.825	0.585
(e) Short-term loans and advances	3.182	0.218	7.056
(f) Other current assets	0.036	0.048	0.048
Total Current Assets	127.487	87.059	27.022
TOTAL	334.634	234.337	54.442

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	TURNOVER	609.424	363.744	62.712
Less	EXPENSES
	TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	30.094	NA	2.672
Less/ Add	DEPRECIATION/ AMORTISATION	12.004	NA	0.279
	PROFIT/ (LOSS) BEFORE TAX	18.090	7.302	2.393
Less	TAX	5.659	2.809	0.744
	PROFIT/ (LOSS) AFTER TAX	12.431	4.493	1.649
	Earnings / (Loss) Per Share (Rs.)	12.43	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	2.04	1.24	2.63
Return on Total Assets (PBT/Total Assets}	(%)	7.28	5.90	4.40
Return on Investment (ROI) (PBT/Networth)		0.43	0.29	0.21
Debt Equity Ratio (Total Debt /Networth)		5.60	7.89	2.10
Current Ratio (Current Asset/Current Liability)		1.13	0.79	0.76

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.500	0.500	10.000
Reserves & Surplus	1.649	6.142	18.573
Share application money pending allotment	9.500	18.500	13.500
Net worth	11.649	25.142	42.073
long-term borrowings	2.005	98.177	175.052
Short term borrowings	22.467	100.267	60.475
Total borrowings	24.472	198.444	235.527
Debt/Equity ratio	2.101	7.893	5.598

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	62.712	363.744	609.424
		480.023	67.542

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	62.712	363.744	609.424
Profit	1.649	4.493	12.431
	2.63%	1.24%	2.04%

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	Ye
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
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	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	Yes

OPERATION

The Company achieved a turnover of Rs. 609.424 Million, compared to Rs. 363.744 Million of last year. There was an increase of Rs.308.393 Million over the previous year. The profit before Taxation was Rs.18.091 Million as against Rs. 7.302 Million of previous year. Increased production, adding new customers, cost reduction in certain areas is the key factors which resulted in profit improvement. In addition, encouraging industrial scenario also found a good result for our growth. Considering the present situation, the Directors are confident of achieving a major share in the Indian market as well as abroad in the coming years.

The company has decided to increase its production capacity to suit the future market demand with additional infrastructure. Taking these into consideration the Directors have decided to plough back the profit without declaring dividend for the year.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans repayable on demand	45.113	0.000
SHORT TERM BORROWING
Loans and advances from related parties	0.000	45.067
Total	45.113	45.067

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10374533	18/07/2012	200,000,000.00	CORPORATION BANK	2223, HARDYAN SINGH ROAD,, KAROL BAGH, NEW DELHI,  Delhi - 110005, INDIA	B57297350

* Date of charge modification

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Electrical Equipment and Fittings
• Installation, heater
• Electronic weighing Machine
• Air conditioner
• Furniture and Fittings Vehicles jugard
• Vehicles
• Computer

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 records 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.63.58
UK Pound	1	Rs.97.99
Euro	1	Rs.70.53

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	SUM
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.