MIRA INFORM REPORT

Report No. :	343965
Report Date :	08.10.2015

IDENTIFICATION DETAILS

Name :	VKC NUTS PRIVATE LIMITED
Registered Office :	27, C/C Gandhi Nagar, Jammu, Jammu and Kashmir – 180004
Tel. No.:	91-91-9419199209
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.05.1999
Com. Reg. No.:	001978
Capital Investment / Paid-up Capital :	Rs. 50.000 Million
CIN No.: [Company Identification No.]	U15131JK1999PTC001978
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 :	Subject is engaged into manufacturing of walnuts and walnut kernels.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 500000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1999. It is into manufacturing of walnuts and walnut kernels. For FY 2014, the company has achieved sales turnover of Rs. 1051.530 Million marked by increase in its cash and cash balances. Trade relations are fair. Business is active. Payments are usually correct. The company can be considered for business dealings on 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Gagan Jain
Designation :	Account Department
Contact No.:	91-9419199209
Date :	08.10.2015

LOCATIONS

Registered Office :	27, C/C Gandhi Nagar, Jammu, Jammu and Kashmir – 180004, India
Tel. No.:	91-1923-222730
Mobile No.:	91-9419199209 (Mr. Gagan Jain)
Fax No.:	Not Available
E-Mail :	dkpa1@rediffmail.com
Factory :	52 B, Birpur Industrial Complex, Bari Brahmana, Jammu – 181133, India

DIRECTORS

AS ON 30.09.2014

Name :

Chander Shekhar Jain

Designation :

Director

Address :

B-161 Derawal Nagar, Delhi – 110007, India

Date of Appointment :

02.04.2007

DIN No.:

00272667

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	U65993DL1981PLC012418	K D R INVESTMENTS LIMITED	Director	30/08/1996	30/08/1996	-	Active	NO
2	U15131JK1999PTC001978	VKC NUTS PRIVATE LIMITED	Director	02/04/2007	02/04/2007	-	Active	NO
3	U74899DL1979PTC009491	WELL WORTH PACKERS PRIVATE LIMITED	Director	09/06/2007	09/06/2007	-	Active	NO
4	U51221JK2005PTC002539	AURO FRUIT AND NUT PRIVATE LIMITED	Director	30/09/2013	22/04/2013	-	Active	NO

Name :

Vijay Kumar Jain

Designation :

Director

Address :

27 C/C Gandhi Nagar, Jammu – 180004, Jammu And Kashmir, India

Date of Appointment :

28.05.1999

DIN No.:

02017966

Name :

Gagan Jain

Designation :

Director

Address :

27 C/C, Gandhi Nagar, Jammu – 180004, Jammu And Kashmir, India

Date of Appointment :

28.05.1999

DIN No.:

01204574

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	U15131JK1999PTC001978	VKC NUTS PRIVATE LIMITED	Director	28/05/1999	28/05/1999	-	Active	NO
2	U51221JK2005PTC002539	AURO FRUIT AND NUT PRIVATE LIMITED	Director	15/07/2005	15/07/2005	12/12/2013	Active	NO

Name :

Gunjan Jain

Designation :

Director

Address :

27 C/C, Gandhi Nagar,, Jammu - 180004, Jammu And Kashmir, India

Date of Appointment :

28.05.1999

DIN No.:

01127411

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	U15131JK1999PTC001978	VKC NUTS PRIVATE LIMITED	Director	28/05/1999	28/05/1999	-	Active	NO
2	U51221JK2005PTC002539	AURO FRUIT AND NUT PRIVATE LIMITED	Director	15/07/2005	15/07/2005	-	Active	NO
3	U45201MH2006PTC163427	TARANGAN LEISURE PRIVATE LIMITED	Director	25/02/2015	25/02/2015	-	Active	NO

Name :

Gaurav Jain

Designation :

Director

Address :

B-3/1202, World Spa West, Sector-30, Gurgaon – 122001, Haryana, India

Date of Appointment :

10.06.2010

DIN No.:

01087529

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	U45201MH2006PTC163427	TARANGAN LEISURE PRIVATE LIMITED	Director	31/07/2006	31/07/2006	-	Active	NO
2	U45201MH2006PTC163453	MILESTONE INFRAVENTURES PRIVATE LIMITED	Director	01/08/2006	01/08/2006	-	Active	NO
3	U45200MH2005PTC157392	TARANGAN DEVELOPERS PRIVATE LIMITED	Director	01/01/2007	01/01/2007	-	Active	NO
4	U15131JK1999PTC001978	VKC NUTS PRIVATE LIMITED	Director	10/06/2010	16/04/2007	-	Active	NO
5	U55101HR2013PTC049467	TARANGAN RESTAURANTS PRIVATE LIMITED	Director	05/06/2013	05/06/2013	-	Active	NO
6	U55101HR2013PTC051138	TARANGAN HOSPITALITY PRIVATE LIMITED	Director	02/12/2013	02/12/2013	-	Active	NO
7	U74140HR2014PTC053443	Crossbar Sports Academy Private Limited	Director	24/09/2014	24/09/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Gagan Jain
Designation :	Account Department

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Vijay Kumar Jain	1148240
Gagan Jain	907140
Gunjan Jain	773980
Veena Jain	846170
Chander Shekhar Jain	833590
Gourav Jain	490830
Vishakha	10
Anju	10
Parkh Wali	10
B. R. Jain (HUF) Katra	10
Vijay Kumar Jain (HUF)	10
Total	5000000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into manufacturing of walnuts and walnut kernels.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

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 :

Not Divulged

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 :

Information declined by the management

Bankers :

Banker Name	ICICI Bank Limited
Branch Address	Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee term loans from banks	6.825	9.730
SHORT TERM BORROWING
Working capital loans from banks	168.476	193.270
Total	175.301	203.000

Auditors :
Name :	V.K. Suri and Company Chartered Accountants
Address :	6/7, Dry Fruit Market, Jammu, India
PAN No.:	AABFV6606J
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs. 50.000 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	50.000	50.000	50.000
(b) Reserves & Surplus	127.171	112.679	98.607
(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)	177.171	162.679	148.607
(3) Non-Current Liabilities
(a) long-term borrowings	16.082	18.415	19.845
(b) Deferred tax liabilities (Net)	0.455	0.463	0.270
(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)	16.537	18.878	20.115
(4) Current Liabilities
(a) Short term borrowings	168.476	193.270	79.430
(b) Trade payables	261.009	241.952	208.470
(c) Other current liabilities	15.673	10.508	3.249
(d) Short-term provisions	3.725	3.534	4.533
Total Current Liabilities (4)	448.883	449.264	295.682
TOTAL	642.591	630.821	464.404
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	72.008	77.789	83.398
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.915	0.659	1.201
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	73.923	78.448	84.599
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	368.386	332.814	261.988
(c) Trade receivables	156.071	167.745	67.725
(d) Cash and cash equivalents	13.787	13.512	5.648
(e) Short-term loans and advances	0.991	5.528	6.599
(f) Other current assets	29.433	32.774	37.845
Total Current Assets	568.668	552.373	379.805
TOTAL	642.591	630.821	464.404

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL REVENUE	1051.540	1077.244	599.808
Less	EXPENSES	1025.344	1050.575	568.714
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	26.196	26.669	31.094
Less/ Add	DEPRECIATION/ AMORTISATION	7.925	8.888	8.438
	PROFIT BEFORE TAX	18.271	17.781	22.656
Less	TAX	3.780	3.796	4.682
	PROFIT AFTER TAX	14.491	13.985	17.974
	Earnings Per Share (Rs.)	2.90	2.79	3.59

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.38	1.30	3.00
Return on Total Assets (PBT/Total Assets}	(%)	2.84	2.82	4.88
Return on Investment (ROI) (PBT/Networth)		0.10	0.11	0.15
Debt Equity Ratio (Total Debt /Networth)		1.04	1.30	0.67
Current Ratio (Current Asset/Current Liability)		1.27	1.23	1.28

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	50.000	50.000	50.000
Reserves & Surplus	98.607	112.679	127.171
Share Application money pending allotment	0.000	0.000	0.000
Net worth	148.607	162.679	177.171
long-term borrowings	19.845	18.415	16.082
Short term borrowings	79.430	193.270	168.476
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	99.275	211.685	184.558
Debt/Equity ratio	0.668	1.301	1.042

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)
Total Revenue	599.808	1077.244	1051.540
		79.598	-2.386

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Revenue	599.808	1077.244	1051.540
Profit	17.974	13.985	14.491
	3.00%	1.30%	1.38%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	----
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	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)	No
16	No. of employees	No
17	Details of sister concerns	No
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	No
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	-----
33	Market information	-----
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and advances from related parties	9.257	8.685
Total	9.257	8.685

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10367151	23/01/2014 *	125,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	B95615076
2	10276276	12/10/2012 *	143,500,000.00	THE JAMMU AND KASHMIR BANK LTD.	SHALAMAR ROAD, JAMMU, Jammu and Kashmir - 180001,  INDIA	B63596902

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and Equipments
• Furniture and Fixture
• Office Equipments
• Other 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. 65.26
UK Pound	1	Rs. 99.53
Euro	1	Rs. 73.47

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	AMT
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		47

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.