MIRA INFORM REPORT

Report No. :	324495
Report Date :	29.05.2015

IDENTIFICATION DETAILS

Name :	AIMCO PESTICIDES LIMITED
Registered Office :	B-1/1, MIDC Industrial Area, Awashi Khed, Lote Parshuram – 415707, Maharashtra
Tel. No.:	91-22-67604000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	12.08.1987
Com. Reg. No.:	11-044362
Capital Investment / Paid-up Capital :	Rs. 92.365 Million
CIN No.: [Company Identification No.]	L24210MH1987PLC044362
IEC No.:	0389021415
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACA3365K
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer, formulation and marketing of agrochemicals.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (16)

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 :	Poor
Payment Behaviour :	Slow
Litigation :	Exist
Comments :	Subject is an established company having poor track record. As per the information under director report, management has decided to make one time settlement plan as approved by the State Bank of India, principle lender and it has cleared all their dues as on date. As per the status in the BIFR company still appears as sick company. However, Management has made its represents to BIFR through State Bank of India, being operating agency to get necessary directions for removing its status as “Sick Company”. Due to poor operational performance, management has witnessed, losses from its operational activities and it has weak liquidity profile. Defaulter check also done through external source and it shows that company has poor track record of meeting debt payment obligation due to which company appears in the RBI defaulter list. Business is active. Payments are reported to be slow. In view of poor financial profile backed by weak business performance, the company can be considered for business dealings on 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.

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.

INFORMATION PARTED BY

Name :	Mrs. Priya Surati
Designation :	Finance Head
Contact No.:	91-22-67604000
Date :	26.05.2015

LOCATIONS

Registered Office :	B-1/1, MIDC Industrial Area, Awashi Khed, Lote Parshuram – 415707, Maharashtra, India
Tel. No.:	91-2352-272136/37/38
Fax No.:	91-2352-272138
E-Mail :	apd@aimcopesticides.com eps@aimcopesticides.com spd@aimcopesticides.com jns@aimcopesticides.com hiren@aimcopesticides.com priya@aimcopesticides.com
Website :	http://www.aimcopesticides.com
Head Office :	Akhand Jyoti, 8th Road, Santacruz (East), Mumbai -400055, Maharashtra, India
Tel. No.:	91-22-67604000
Fax No.:	91-22-67604060/ 67604070
E-Mail :	aimco@vsnl.com
Factory :	Lote Parshuram, Village Awashi, Taluka Khed, District Ratnagiri, Maharashtra, India

DIRECTORS

AS ON 31.03.2014

Name :	Mr. Pradeep Dave
Designation :	Chairman and Executive Director
Name :	Mrs. Elizabeth Shrivastava
Designation :	Managing Director
Name :	Mr. Ramgopal Kaja
Designation :	Non-Executive Director
Name :	Mr. Ashit P. Dave
Designation :	Executive Director
Date of Birth/Age :	06.01.1971
Qualification :	B.Com, IIM
Date of Appointment :	20.08.1996
Name :	Dr. Samir P. Dave
Designation :	Executive Director
Date of Birth/Age :	15.01.1967
Qualification :	Ph. D in Organic Chemistry (University of Mumbai)
Date of Appointment :	30.05.1995

KEY EXECUTIVES

Name :	Mrs. Priya Surati
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2015

Category of Shareholder	No. of Shares	% of Holdings
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	1456195	15.77
Bodies Corporate	3418045	37.01
Sub Total	4874240	52.77
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	4874240	52.77
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	3000	0.03
Financial Institutions / Banks	100	0.00
Foreign Institutional Investors	3600	0.04
Sub Total	6700	0.07
(2) Non-Institutions
Bodies Corporate	277795	3.01
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	3016180	32.65
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	918743	9.95
Any Others (Specify)	142855	1.55
Clearing Members	24859	0.27
Non Resident Indians	113761	1.23
Trusts	1000	0.01
Directors & their Relatives & Friends	3235	0.04
Sub Total	4355573	47.16
Total Public shareholding (B)	4362273	47.23
Total (A)+(B)	9236513	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	9236513	0.00

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

Sl.No.	Name of the Shareholder	Details of Shares held
		No. of Shares held	As a % of grand total (A)+(B)+(C)
1	Excel Crop Care Limited	23,30,120	25.23
2	Aimco Investmetns Private Limited	3,61,808	3.92
3	Aurangabad Oil Extraction Co.Private.Limited.	2,17,395	2.35
4	Aimco Investments Private Limited	1,84,537	2.00
5	Samir Pradeepbhai Dave	1,58,700	1.72
6	Pradeep P Dave Huf	1,35,000	1.46
7	Amisco Agrochem Private Limite	1,12,500	1.22
8	Pradeep P Dave	1,12,500	1.22
9	Pradeep P Dave	1,12,500	1.22
10	Pradeep P Dave	84,240	0.91
11	Ashit Pradeep Dave	81,191	0.88
12	Ashit P Dave	74,908	0.81
13	Pradeep Pushkarrai Dave	70,955	0.77
14	Amisco Agrochem Private Limited	70,000	0.76
15	Amisco Agrochem Limited	54,199	0.59
16	Pradeep P Dave	40,000	0.43
17	Amisco Agrochem Private Limited	34,400	0.37
18	Samir P Dave	32,740	0.35
19	Samir P Dave	27,500	0.30
20	Amisco Agro-Chem Private.Limited	24,000	0.26
21	Pradeep P Dave	23,700	0.26
22	Pradeep P Dave	22,500	0.24
23	Ashit Pradip Dave	22,000	0.24
24	Pradeep P Dave	20,000	0.22
25	Tarlika P Dave	19,400	0.21
26	Samir P Dave	19,200	0.21
27	Pradip Pushkarrai Dave	18,700	0.20
28	Ashit Pradipbhai Dave	16,500	0.18
29	Ashit P Dave	16,100	0.17
30	Tarlika Pradip Dave	15,500	0.17
31	Elizabeth P. Shrivastava	15,286	0.17
32	Tarlika Pradip Dave	15,000	0.16
33	Ashit P Dave	13,000	0.14
34	Tarlika P Dave	12,900	0.14
35	Pradeep P Dave	12,500	0.14
36	Samir P Dave	12,500	0.14
37	Samir Pradip Dave	12,500	0.14
38	Amisco Agro Chem Private.Limited.	11,812	0.13
39	Samir Pradip Dave	11,000	0.12
40	Pradip Pushkarrai Dave	10,500	0.11
41	Amisco Agrochem Private Limited	10,000	0.11
42	Ashit Pradip Dave	10,000	0.11
43	Pradip P Dave	10,000	0.11
44	Pradip Pushkarrai Dave	10,000	0.11
45	Tarlika Pradip Dave	10,000	0.11
46	Pradeep Pushkarrai Dave	10,000	0.11
47	Pradeep P Dave (H.U.F)	8,775	0.10
48	Ashit Pradip Dave	7,500	0.08
49	Tarlika Pradip Dave	7,500	0.08
50	Pradeep P Dave	7,000	0.08
51	Pradip Pushkarrai Dave	6,875	0.07
52	Samir Pradip Dave	6,125	0.07
53	Pradeep Pushkarrai Dave	5,400	0.06
54	Tarlika P Dave	5,200	0.06
55	Ashit Pradip Dave	5,000	0.05
56	Elizabeth Shrivastava	5,000	0.05
57	Pradip Pushkarrai Dave	5,000	0.05
58	Samir Pradeep Dave	5,000	0.05
59	Samir Pradip Dave	5,000	0.05
60	Tarlika Pradip Dave	5,000	0.05
61	Tarlika Pradip Dave	5,000	0.05
62	Ashit Pradip Dave	5,000	0.05
63	Pradeep P Dave	4,687	0.05
64	Elizabeth Shrivastava	4,000	0.04
65	Samir Pradip Dave	4,000	0.04
66	Samir Pradip Dave	4,000	0.04
67	Tarlika P Dave	3,300	0.04
68	Meghna S Dave	3,000	0.03
69	Nandini A Dave	3,000	0.03
70	Pradip P Dave	3,000	0.03
71	Pradip Pushkarrai Dave	3,000	0.03
72	Samir Pradip Dave	3,000	0.03
73	Samir Pradip Dave	3,000	0.03
74	Aurangabad Oil Extraction Co.Private.Limited.	2,887	0.03
75	Amisco Agro-Chem Private.Limited.	2,812	0.03
76	Samir P Dave	2,737	0.03
77	Ashit Pradip Dave	2,500	0.03
78	Pradip Pushkarrai Dave	2,500	0.03
79	Pradeep P Dave Huf	2,000	0.02
80	Pradip P Dave	2,000	0.02
81	Tarlika Pradip Dave	1,900	0.02
82	Amisco Agro-Chem Private.Limited.	1,500	0.02
83	Ashit Pradip Dave	1,500	0.02
84	Priyal S Dave (Minor)	1,500	0.02
85	Samir Pradip Dave	1,500	0.02
86	Ashit Pradip Dave	1,500	0.02
87	Pradip Pushkarrai Dave	1,400	0.02
88	Pradeep P Dave	1,000	0.01
89	Samir P Dave	1,000	0.01
90	Samir P Dave	1,000	0.01
91	Ashit P Dave	960	0.01
92	Samir P Dave	937	0.01
93	Ashit Pradip Dave	862	0.01
94	Samir Pradip Dave	862	0.01
95	Pradip Pushkarrai Dave	500	0.01
96	Ashit Pradip Dave	387	0.00
97	Pradeep P Dave	375	0.00
98	Samir Pradip Dave	375	0.00
99	Samir Pradip Dave	300	0.00
100	Samir P Dave	100	0.00
101	Samir Pradip Dave	100	0.00
102	Amisco Agrochem Limited	75	0.00
103	Ashit Pradeep Dave	37	0.00
104	Pradeep Pushkarrai Dave	37	0.00
105	Samir Pradeep Dave	37	0.00
106	Tarlika Pradeep Dave	37	0.00
107	Pradip Pushkarrai Dave	30	0.00
108	Elizabeth Shrivastava	10	0.00
109	Jayendra P Dave	10	0.00
110	Pradip P Dave	10	0.00
111	Tarlika Pradip Dave	10	0.00
112	Meghna Samir Dave	3,000	0.03
113	Tarlika P Dave	1,800	0.02
	Total	48,74,240	52.77

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

Sl. No.	Name of the Shareholder	No. of Shares held
1	Lincoln P Coelho	240000
	Total	240000

BUSINESS DETAILS

Line of Business :	Manufacturer, formulation and marketing of agrochemicals.
Products :	Not Divulged
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash and Credit (30/60/90 days)
Purchasing :	Cash and Credit (30/60/90 days)

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 :	Not Divulged
Remark:	Not Divulged

Customers :

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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

500 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	Commercial Branch, Ville Parel (East), Mumbai, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loan from Bank
Vehicle Loan	0.222	0.000
Other Loan from Bank	0.000	17.500
Short-term borrowings
Loan from a company	0.000	3.800
Total	0.222	21.300
NOTE LONG TERM BORROWING i) Vehicle loan is secured by hypothecation of specified vehicle. The loan is repayable in 35 monthly installments starting from 01/03/14 and last installment falling due on 01/01/17. ii) Other loan is secured by first pari passu charge and second charge on the fixed assets of the Company and first charge on Hyderabad property. SHORT TERM BORROWINGS Loan from a company is secured by a first mortgage on all the Company's immoveable properties both present and future, located at Lote Parshuram and first charge by way of hypothecation of all the Company's movables (save and except book debts) including moveable machinery, machinery spares, tools and accessories, both present and future.

Auditors :
Name :	CNK and Associates LLP Chartered Accountants
Address :	5th Floor, Narain Chambers, M. G. Road, Vile Parle (East), Mumbai- 400 057, Maharashtra, India
Memberships :	--
Collaborators :	--
Parties where control exist: Wholly owned subsidiaries of the Company :	Aimco Ecoscience Limited Aimco International FZE, United Arab Emirates
Companies/ Firms in which the directors' have substantial interest (i.e. more than 20% in voting power directly or indirectly) :	Amisco Agrochem Limited Aimco Investment Private Limited Aurangabad Oil Extraction Company Private Limited NDR and Company

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9236513	Equity Shares	Rs.10/- each	Rs. 92.365 Million

Terms/rights attached to equity shares

i) The Company has only one class of share referred to as equity shares having a par value of Rs. 10. Each holder of equity share is entitled to one vote per share.

ii) The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in the Annual General Meeting.

iii) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amount. The distribution will be proportionate to the number of equity shares held by the shareholders.

iv) There is no change in issued and paid up share capital during the year.

v) Details of shareholder holding more than 5% shares:

Name of Shareholder	Number of Shares	% holding
Excel Crop Care Limited	2330120	25.23%
Pradeep P Dave	588634	6.37%
Aimco Investment Private Limited	546345	5.92%

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	92.365	92.365	92.365
(b) Reserves & Surplus	(86.149)	(90.216)	(169.217)
(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)	6.216	2.149	(76.852)
(3) Non-Current Liabilities
(a) long-term borrowings	0.222	18.716	1.704
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	1.597	1.533	1.523
(d) long-term provisions	10.968	6.522	5.383
Total Non-current Liabilities (3)	12.787	26.771	8.610
(4) Current Liabilities
(a) Short term borrowings	0.300	9.486	40.081
(b) Trade payables	406.475	264.694	455.309
(c) Other current liabilities	199.363	165.614	521.629
(d) Short-term provisions	12.553	11.272	13.073
Total Current Liabilities (4)	618.691	451.066	1030.092
TOTAL	637.694	479.986	961.850
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	44.990	41.587	41.301
(ii) Intangible Assets	0.000	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	0.997	0.000	0.000
(c) Deferred tax assets (net)	0.428	14.251	46.893
(d) Long-term Loan and Advances	14.082	10.766	10.486
(e) Other Non-current assets	0.917	33.087	162.671
Total Non-Current Assets	61.414	99.691	261.351
(2) Current assets
(a) Current investments	152.813	112.986	271.958
(b) Inventories	348.836	209.923	317.029
(c) Trade receivables	16.146	9.457	6.430
(d) Cash and cash equivalents	27.533	20.320	33.927
(e) Short-term loans and advances	30.952	27.609	71.155
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	576.280	380.295	700.499
TOTAL	637.694	479.986	961.850

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1405.025	457.492	1986.154
		Other Income	3.833	4.917	20.448
		TOTAL	1408.858	462.409	2006.602
Less	EXPENSES
		Cost of Materials Consumed	635.421	277.997	1540.884
		Purchases of Stock-in-Trade	580.678	53.530	279.901
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(24.978)	100.490	(89.997)
		Employees benefits expense	27.385	11.745	29.316
		Other expenses	161.717	180.272	245.433
		Exceptional Items	0.000	(229.548)	0.000
		TOTAL	1380.223	394.486	2005.537
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		28.635	67.923	1.065
Less	FINANCIAL EXPENSES		7.229	1.452	48.170
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		21.406	66.471	(47.105)
Less/ Add	DEPRECIATION/ AMORTISATION		3.516	1.722	8.560
	PROFIT BEFORE TAX		17.890	64.749	(55.665)
Less	TAX		13.823	(14.251)	30.695
	PROFIT AFTER TAX		4.067	79.000	(86.360)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	596.508	167.615	611.205
	TOTAL EARNINGS		596.508	167.615	611.205
	IMPORTS
		Raw Materials	394.194	82.530	1216.840
	TOTAL IMPORTS		394.194	82.530	1216.840
	Earnings Per Share (Rs.)		0.44	8.55	(9.34)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.440	62.500	187.069
Cash generated from operations	126.556	(99.721)	25.066

QUARTERLY RESULTS

Particulars	30.06.2014	30.09.2014	31.12.2014
Unaudited	Unaudited	Unaudited	Unaudited
Net Sales	464.890	514.820	384.560
Total Expenditure	448.440	495.690	379.280
PBIDT (Excl OI)	16.450	19.130	5.280
Other Income	0.070	0.070	0.060
Operating Profit	16.520	19.200	5.340
Interest	0.580	0.520	0.610
Exceptional Items	0.000	0.000	0.000
PBDT	15.940	18.680	4.730
Depreciation	1.120	0.740	1.060
Profit Before Tax	14.820	17.940	3.670
Tax	(0.240)	(0.280)	0.120
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	15.060	18.220	3.540
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	15.060	18.220	3.540

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.29	17.27	-4.35
Operating Profit Margin (PBIDT/Sales)	(%)	2.04	14.85	0.05
Return on Total Assets (PBT/Total Assets}	(%)	2.81	13.90	-6.08
Return on Investment (ROI) (PBT/Networth)		2.88	30.13	0.72
Debt Equity Ratio (Total Debt /Networth)		30.18	42.21	-0.55
Current Ratio (Current Asset/Current Liability)		0.93	0.84	0.68

STOCK PRICES

Face Value	Rs. 10.00/-
Market Value	Rs. 48.55/-

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	92.365	92.365	92.365
Reserves & Surplus	(169.217)	(90.216)	(86.149)
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(76.852)	2.149	6.216
long-term borrowings	1.704	18.716	0.222
Short term borrowings	40.081	9.486	0.300
Current Maturities of Long Term Debt	0.440	62.500	187.069
Total borrowings	42.225	90.702	187.591
Debt/Equity ratio	(0.549)	42.207	30.179

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	1986.154	457.492	1405.025
		(76.966)	207.115

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	1986.154	457.492	1405.025
Profit	(86.360)	79.000	4.067
	(4.35%)	17.27%	0.29%

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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	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	Yes
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	Yes
33	Market information	-----
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS

LITIGATION DETAILS
Bench:- Bombay
Lodging No. :	CPL/816/2014	Failing Date:-	10.11.2014	Reg. No.:-	CP/206/2015	Reg. Date:-	05.03.2015
Loading No.:-
Petitioner:-	DEV ENTERPRISES		Respondent:-	AIMCO PESTICIDES LIMITED
Petitioner Adv :-	SUGANDH B. DESHMUKH (550)		Resp. Adv.:-	DEVEN DWARKADAS (I3561)
District:-	MUMBAI
Bench:-	SINGLE		Category:-	COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT
Status:-	Pre-Admission		Stage :-	FOR ADMISSION – FRESH [ORIGINAL SIDE MATTERS]
Coram:-	HON’BLE SHRI JUSTICE S.J. KATHAWALLA
Last Date:-	08.06.2015		Stage :- FOR ACCEPTANCE
Last Coram :-	HON’BLE SHRI JUSTICE S.J. KATHAWALLA
Act. :	Companies act and rules 1956 Under Section :- 433 434

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Deposits	0.000	1.216
Short-term borrowings
Loan from a related party	0.000	0.828
Deposits	0.300	4.858
Total	0.300	6.902
NOTE LONG TERM BORROWING Fixed Deposits from public and shareholders carry interest @ 11% p.a. and are repayable after 2 and 3 years from the date of deposit.

CORPORATE INFORMATION

Aimco Pesticides Limited ('the Company') is a public limited company domiciled in India incorporated under the provisions of the Companies Act, 1956. Its shares are listed on Bombay Stock Exchange in India. The Company is engaged in the business of manufacturing and trading in agrochemical products. Its manufacturing plant is located at Taluka Khed, District Ratnagiri, Maharashtra. The Company caters to both domestic and international markets.

The Company has two subsidiaries in India and United Arab Emirates. The Group is engaged in the business of manufacturing and trading in agrochemical products.

OPERATIONS:

On account of variation of periodicity of financial statement of current year and that of last year, the figures are not absolutely comparable. During the period under review, the income recorded from operations was Rs. 1405.025 Million, representing a healthy sign of business growth of as compared to previous period. After offsetting all expenses/ credits, company generated profit after tax of Rs. 4.067 Million. The efforts of company management proved in favor of its business realignment and financial results turned into profits, indicating a sign of turnaround in its operations. The Company has attempted to capture untapped foreign markets with new product line and as result volume of sales would see momentum in succeeding years.

We are pleased to inform you that based one time settlement (OTS) plan submitted by the Company and as approved by the State Bank of India, principle lender, company has cleared all their dues as on date. The Company has also made its representation to BIFR through State Bank of India, being operating agency to get necessary directions for removing its status as "Sick Company". The said matter is being perused by State Bank of India, before BIFR and necessary directions are awaited.

The management's business development plan has contributed in terms of development of new markets as well as launching of newer products in local and foreign markets. With given global business circumstances, coupled with right product mix, the directors are hopeful of better prospects during the year.

CURRENT YEAR OUTLOOK

The Company has continued focusing on registering, orienting more products in its own brand name in exports market. It's company's endeavor to develop new markets as well as concentrating more on improvement of volume of its sales in current market so the sale can be maximized. On account of new export registrations and weakening of rupee the Company expects growth in the export sales in the coming year.

UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND HALF YEAR ENDED 31^ST DECEMBER 2014

(Rs. In Millions)

Particulars	Quarter Ended ( Unaudited)		Nine Months Ended ( Unaudited)
	31.12.2014	30.09.2014	31.12.2014
1. Income from operations
a) Net sales/ Income from operation (net of excise duty)	383.861	514.117	1360.953
b) Other operating income	0.697	0.698	3.307
Total income from Operations(net)	384.558	514.815	1364.260
2.Expenditure
a) Cost of material consumed	200.548	255.450	660.511
b) Purchases of stock in trade	160.498	167.173	535.603
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(34.350)	10.365	(35.162)
d) Employees benefit expenses	7.443	8.171	23.476
e) Depreciation and amortization expenses	1.064	0.739	2.920
f) Other expenditure	45.138	54.528	138.984
Total expenses	380.341	496.425	1326.332
3. Profit from operations before other income and financial costs	4.217	18.390	37.928
4. Other income	0.055	0.065	0.193
5. Profit from ordinary activities before finance costs	4.272	18.454	38.121
6. Finance costs	0.606	0.515	1.698
7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items	3.666	17.939	36.423
8. Exceptional item	--	--	--
9. Profit from ordinary activities before tax Expense:	3.666	17.939	36.423
10.Tax expenses	0.122	(0.281)	(0.403)
11.Net Profit / (Loss) from ordinary activities after tax (9-10)	3.544	18.220	36.826
12.Extraordinary Items (net of tax expense)	--	--	--
13.Net Profit / (Loss) for the period (11 -12)	3.544	18.220	36.826
14.Paid-up equity share capital (Nominal value Rs.10/-per share)	92.365	92.365	92.365
15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year
16.i) Earnings per share (before extraordinary items) of Rs.10/-each) (not annualised):
(a) Basic and diluted	0.38	1.97	3.99
ii) Earnings per share (after extraordinary items)	0.38	1.97	3.99
(a) Basic and diluted

Particulars	Quarter Ended ( Unaudited)		Nine Months Ended ( Unaudited)
	31.12.2014	30.09.2014	31.12.2014
A. Particulars of shareholding
1. Public Shareholding
- Number of shares	4361909	4361909	4361909
- Percentage of shareholding	47.22%	47.22%	47.22%
2. Promoters and Promoters group Shareholding-
a) Pledged /Encumbered
Number of shares	--	--	--
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	--	--	--
Percentage of shares (as a % of total share capital of the company)	--	--	--
b) Non Encumbered
Number of shares	4874604	4874604	4874604
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	100.00%	100.00%	100.00%
Percentage of shares (as a % of total share capital of the company)	52.78%	52.78%	52.78%

Segment Results:

a) Primary segment - Business segment:

The Company has only one business segment namely “Agrochemicals” as primary segment. Since the entire business of the Company is from agrochemicals, there are no other primary reportable segments. Hence, the disclosures as required under Accounting Standard 17 “Segment Reporting” qua the primary segment is not given.

b) Secondary segment - Geographical segment:

The geographical segment is based on the geographical location of the customers. The secondary segment information is as under:

Particulars	Quarter Ended ( Unaudited)		Nine Months Ended ( Unaudited)
	31.12.2014	30.09.2014	31.12.2014
i. Revenue
India	123.511	317.340	732.996
Outside India	260.351	196.778	627.958
Total	383.861	514.117	1360.953
ii. Carrying amount of assets:
India	562.744	578.816	562.744
Outside India	111.687	82.912	111.687
Total	674.431	661.728	674.431
iii. Capital Expenditure in India	6.45	25.40	71.07

Note:

1. Primary segment - Business segment:

The Company has only one business segment namely "Agrochemicals’" as primary segment. Since the entire business of the Company is from agrochemicals, there are no other primary reportable segments. Hence, the disclosures as required under Accounting Standard 17 "Segment Reporting" qua the primary segment is not given.

2. The above results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 12th February, 2015.

3. The figures for the quarter ended December 31st, 2014 are the balancing figures between the unaudited figures in respect of nine months ended on December 31st, 2014 and published result for the half year ended September 30th, 2014.

4. Managerial Remuneration of Rs. 9.075 Million paid in earlier years to directors is subject to approval of the Central Government under section 309 of the Companies Act, 1956.

5. Effective from April 01, 2014, the Company had revised depreciation rate on certain fixed assets as per the useful life specified in the Companies Act, 2013 or as re-assessed by the Company. Accordingly, the carrying amount, net of residual value, as on that date have been depreciated over the revised remaining useful lives of the assets. As a result the charge for depreciation is lower by Rs.0.083 Million and lower by Rs.0.085 Million for the quarter and nine months ended December 31, 2014 respectively. Further, an amount of Rs. 1.182 Million (net of deferred tax credit of Rs. 0.568 Million) has been adjusted against balance in Profit and Loss account as at the beginning of the year, being the carrying amount of assets after retaining residual value, in cases where the remaining useful lives of fixed assets have been completed.

6. Pursuant to the order passed under section 17(3) of the Sick Industrial Companies (Special Provisions) Act, 1985 the Board for Industrial and Financial Reconstruction passed the necessary order and appointed State Bank of India as its operating agency. As per the direction, the operating agency has submitted the Scheme to BIFR, which is pending for its consideration and sanction.

7. Previous period's figures have been regrouped / reclassified wherever considered necessary.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90218248	07/12/2009 *	50,000,000.00	ABHIGAM CONSULTANTS PVT LTD	1ST FLOOR, ABS TOWER,OLD PADRA ROAD, BARODA, Gujarat - 390015, INDIA	A77756351
2	90218247	14/04/1999	50,000,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA	IDBI TOWER; WTC COMPLEX, COLABA, MUMBAI, Maharashtra - 400005, INDIA	-
3	90219968	02/08/1993 *	9,870,000.00	THE STATE INDUSTRIAL & INVESTMENT CORP. OF MAHARAS  HTRA LTD	NIRMAL; FIRST FLOOR, NARIMAN POINT, BOMBAY, Maharashtra - 400021, INDIA	-
4	90217642	24/03/1999 *	250,000,000.00	ICICI LIMITED	163, BACKBAY RECLAMATION, MUMBAI, Maharashtra - 400020, INDIA	-
5	90217639	04/01/1993	25,000,000.00	THE INDUSTRIAL CRDIT AND INVESTMENT CORPORATION OF  INDIA LTD	163, BACKBAY RECLAMATION, BOMBAY, Maharashtra - 400020, INDIA	-

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Furniture and Fixture
• Vehicles
• Office Equipments
• Computer Equipments

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. 63.90
UK Pound	1	Rs. 98.16
Euro	1	Rs. 69.74

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAR
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		16

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.