MIRA INFORM REPORT

Report No. :	341802
Report Date :	23.09.2015

IDENTIFICATION DETAILS

Name :	ARCHEAN CHEMICAL INDUSTRIES PRIVATE LIMITED
Registered Office :	First Floor, Sudha Centre, New No. 31, Old No. 19, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600004, Tamilnadu
Tel. No.:	91-2836-234259
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.07.2009
Com. Reg. No.:	18-072270
Capital Investment / Paid-up Capital :	Rs.100.000 Million
CIN No.: [Company Identification No.]	U24298TN2009PTC072270
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAHCA8471D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture and Supplier of Industrial Chemicals and Fertilizers.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 3900000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Even though, the company was incorporated in the year 2007, it has started its business operations as a supplier of industrial salt somewhere during financial year 2014, as per the director’s reported 2014. Although, the company has reported acceptable revenue base along with decent profit margin in its first year of operations but, the huge amount of external borrowings has hamper the liquidity position, which in total leads to moderate financial risk profile. Trade relations are improving. Business is active. Payment terms are reported to be slow but correct. In view of limited track record of business operations, the company can be considered for business dealings with great 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 – 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	ICRA
Rating	Long term rating : BB-
Rating Explanation	Inadequate credit quality and high credit risk.
Date	August, 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 31-03-2015.

INFORMATION DENIED

Management non-cooperative

Contact No.: 91-2836-234259

LOCATIONS

Registered Office :	First Floor, Sudha Centre, New No. 31, Old No. 19, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600004, Tamilnadu, India
Tel. No.:	91-44-43033444
Fax No.:	Not Available
E-Mail :	secretarial@archeangroup.com
Website :	http://www.archeangroup.com
Gandhidham Office :	D/4, NU 10 B, Opposite Lions Club, Shakti Nagar, Gandhidham - 370201, Gujarat, India
Tel. No.:	91-2836-234259 / 233400
Factory :	Greater Rann of Kutch , Near Hajipir, Taluka Bhuj, District Kutch , Gujarat, India

DIRECTORS

AS ON 30.09.2014

Name :

Subramanyam Pitchaiah Arava

Designation :

Director

Address :

F-1, Plot No.63, Sona Tower, Sector -2, Gandhidham - 370201, Gujarat, India

Date of Birth/Age :

15.05.1955

Date of Appointment :

28.09.2010

DIN No.:

00248305

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	U24117TN1982PTC017092	JAKHAU SALT COMPANY PRIVATE LIMITED	WHOLE-TIME DIRECTOR	10/10/2014	05/06/1991	-	ACTIVE	NO
2	U51101TN1990PLC018819	BHARATH SALT REFINERIES LIMITED	DIRECTOR	16/01/1996	16/01/1996	24/03/2010	ACTIVE	NO
3	U70101TN2007PTC064291	RAMANUJAPURAM PROPERTIES PRIVATE LIMITED	DIRECTOR	19/09/2008	09/02/2008	05/08/2009	ACTIVE	NO
4	U14220TN1996PLC034264	BHARAT SSANGYONGSALT CORPORATION LIMITED	DIRECTOR	30/09/2008	18/02/2008	-	ACTIVE	NO
5	U24298TN2009PTC072270	ARCHEAN CHEMICAL INDUSTRIES PRIVATE LIMITED	DIRECTOR	28/09/2010	05/08/2009	-	ACTIVE	NO
6	U40100GJ2010PTC061777	ARGENCO ENERGY PRIVATE LIMITED	DIRECTOR	26/09/2011	29/07/2010	-	ACTIVE	NO
7	U91990GJ2008NPL053876	FEDERATION OF KUTCH INDUSTRIES ASSOCIATION	DIRECTOR	26/08/2014	26/08/2014	-	ACTIVE	NO

Name :

Srinivasan Vaidyanathan

Designation :

Whole-time director

Address :

Flat No. 4, A2 Green Harmony, Kasturi Estate, 3rd Street, Off Cathedral Road, Chennai - 600086, Tamilnadu, India

Date of Appointment :

17.03.2015

DIN No.:

00601013

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	U15492DL1999PLC101732	BARISTA COFFEE COMPANY LIMITED	DIRECTOR	06/12/2004	06/12/2004	19/04/2007	ACTIVE	NO
2	U01134TN1994PLC026861	SIVA INDUSTRIES AND HOLDINGS LIMITED	DIRECTOR	01/12/2014	10/03/2006	30/01/2015	ACTIVE	NO
3	U33111TN1986PLC013119	SIVA VENTURES LIMITED	WHOLE-TIME DIRECTOR	01/04/2011	01/04/2006	-	AMALGAMATED	NO
4	U28920TN1999PLC043385	BEST AND CROMPTON ENGINEERING PROJECTS LIMITED	DIRECTOR	19/05/2006	19/05/2006	07/01/2009	ACTIVE	NO
5	L29221TN1956PLC000204	BEST AND CROMPTON ENGG. LIMITED	DIRECTOR	22/05/2006	22/05/2006	07/01/2009	ACTIVE	NO
6	U32201TN1996PLC034183	SVL TECHNOLOGIES AND NETWORK LIMITED	DIRECTOR	18/07/2006	18/07/2006	02/09/2009	AMALGAMATED	NO
7	U45201TN1997PLC038612	SIVA PROJECTS ENGINEERING AND ENTERPRISES LIMITED	DIRECTOR	11/09/2006	11/09/2006	18/08/2009	AMALGAMATED	NO
8	U45200MH2006PLC160730	AAMBY VALLEY LIMITED	DIRECTOR	20/09/2007	09/03/2007	16/04/2010	ACTIVE	NO
9	U67190TN1996PLC035451	ABHI AMBI FINANCIAL SERVICES LIMITED	DIRECTOR	24/03/2007	24/03/2007	21/08/2009	ACTIVE	NO
10	U33209TN1996PLC035712	ETH LIMITED	DIRECTOR	21/04/2007	21/04/2007	13/09/2007	ACTIVE	NO
11	U51109TN2007PTC064294	SIVA INDIA COMMERCIAL TRADERS PRIVATE LIMITED	DIRECTOR	21/07/2007	21/07/2007	06/12/2011	ACTIVE	NO
12	U40100TN2007PTC064332	WINWIND POWER ENERGY PRIVATE LIMITED	DIRECTOR	09/08/2007	09/08/2007	14/01/2015	ACTIVE	NO
13	U64200TN2007PTC064561	ETH AIRTV PRIVATE LIMITED	DIRECTOR	30/08/2007	30/08/2007	01/12/2011	CONVERTED TO LLP AND DISSOLVED	NO
14	U70101TN2007PTC064261	VANTAGE REALTY PRIVATE LIMITED	DIRECTOR	11/02/2008	11/02/2008	24/03/2008	AMALGAMATED	NO
15	U64203HR2007PTC039536	S TEL PRIVATE LIMITED	DIRECTOR	26/03/2009	26/03/2009	16/12/2014	ACTIVE	NO
16	U51100MH1996PLC100876	TWENTY FIVE SOUTH REALTY LIMITED	DIRECTOR	30/09/2010	03/07/2009	24/07/2012	ACTIVE	NO
17	U74900TN2009PTC072299	SIVA BUSINESS MANAGEMENT SERVICES PRIVATE LIMITED	DIRECTOR	16/07/2009	16/07/2009	02/09/2009	ACTIVE	NO
18	U51909TN2009PTC072377	RUDHRA COMMODITIES AND ENERGY TRADES PRIVATE LIMITED	DIRECTOR	24/07/2009	24/07/2009	02/09/2009	CONVERTED TO LLP AND DISSOLVED	NO
19	U24298TN2009PTC072270	ARCHEAN CHEMICAL INDUSTRIES PRIVATE LIMITED	WHOLE-TIME DIRECTOR	17/03/2015	17/03/2015	-	ACTIVE	NO

Name :

Subrahmanyam Meenakshisundaram

Designation :

Director

Address :

F3, Kumars Suja Apartments, 5 Kamalabai Street, T Nagar, Chennai - 600017, Tamilnadu, India

Date of Birth/Age :

26.03.1954

Date of Appointment :

28.09.2010

DIN No.:

01176085

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	U63090TN2006PTC061459	PLAZA TRAVELS PRIVATE LIMITED	DIRECTOR	20/09/2007	03/01/2007	04/02/2008	ACTIVE	NO
2	U29222TN2007PLC062850	GML OFFSHORE LIMITED	DIRECTOR	30/09/2008	27/03/2007	-	ACTIVE	NO
3	U24100TN2007PLC064778	ARIA CHEMICALS (ORISSA) LIMITED	DIRECTOR	23/01/2009	18/09/2007	-	ACTIVE	NO
4	U27203MH2007PTC176035	KONKAN ALUMINA PRIVATE LIMITED	DIRECTOR	18/09/2008	09/02/2008	-	ACTIVE	NO
5	U70101TN2007PTC064291	RAMANUJAPURAM PROPERTIES PRIVATE LIMITED	DIRECTOR	19/09/2008	11/02/2008	05/08/2009	ACTIVE	NO
6	U51496TN2004PTC055022	ARIA CHEMICALS PRIVATE LIMITED	DIRECTOR	30/09/2009	03/11/2008	28/11/2011	ACTIVE	NO
7	U29113TN2006PTC061846	GOODEARTH SHIPBUILDING PRIVATE LIMITED	DIRECTOR	30/09/2010	08/12/2009	02/06/2012	AMALGAMATED	NO
8	U63032TN2007PTC063604	GOOD NAVIGATION PRIVATE LIMITED	DIRECTOR	30/09/2010	08/12/2009	21/08/2013	ACTIVE	NO
9	U63020TN2000PLC061232	GOODEARTH MARITIME LIMITED	DIRECTOR	30/09/2010	18/03/2010	-	ACTIVE	NO
10	U24298TN2009PTC072270	ARCHEAN CHEMICAL INDUSTRIES PRIVATE LIMITED	DIRECTOR	28/09/2010	24/03/2010	-	ACTIVE	NO
11	U24110TN2009PTC071093	ARCHEAN FERTILIZER PRIVATE LIMITED	DIRECTOR	30/09/2011	11/10/2010	-	ACTIVE	NO
12	U70102TN2011PTC079155	ARCHEAN DESIGN AND DEVELOPMENT PRIVATE LIMITED	DIRECTOR	10/02/2011	10/02/2011	-	ACTIVE	NO

Name :

Sakai Kazuhiro

Designation :

Nominee director

Address :

Shitaya 3 Chome, 19-6-802, Towo Shitaya Coop, Na, Japan

Date of Appointment :

27.07.2015

DIN No.:

07070518

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	U24298TN2009PTC072270	ARCHEAN CHEMICAL INDUSTRIES PRIVATE LIMITED	NOMINEE DIRECTOR	27/07/2015	31/01/2015	-	ACTIVE	NO

KEY EXECUTIVES

Name :	Swaminathan Ramanan
Designation :	Secretary
Address :	57/27, Brindavan Street, West Mambalam, Chennai – 600033, Tamilnadu, India
Date of Birth/Age :	17.12.1956
PAN No.:	ATBPS2731A
Date of Appointment :	01.07.2015

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	%age holding
P B Anandam	3000000	30.00
P Pramila	500000	5.00
P Ravi	1000000	10.00
P Ranjit	1000000	10.00
Jakhau Salt Company Private Limited, India	4000000	40.00
Sojitz Corporation, Japan	500000	5.00
Total	10000000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

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	5.00
Bodies corporate	40.00
Other top fifty shareholders	55.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture and Supplier of Industrial Chemicals and Fertilizers.

Product or service:

Item Code No.	Product or service Description
25010090	Industrial Salt

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 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 :

Information declined by the management.

Bankers :

Bank Name	Bank of India
Branch	Not Divulged
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
Rupee term loans from banks	5352.544	3788.642
Total	5352.544	3788.642

Auditors :
Name :	S. Kannan and Associates Chartered Accountants
Address :	Skyline Castle, New No.27, First Floor, Abdul Razack Street, Saidapet, Chennai – 600015, Tamilnadu, India
PAN No.:	AATFS3904Q
Memberships :	Not Available
Collaborators :	Not Available
Associates :	Archean Industries Private Limited [U26999TN1984PTC017091] Jakhau Salt Company Private Limited [U24117TN1982PTC017092] Bharath Salt Refineries Limited [U51101TN1990PLC018819] Archean Salt Holdings Private Limited [U14220TN2014PTC096884] Core Minerals Private Limited [U14297KA2004PTC033626]

CAPITAL STRUCTURE

AS ON 31.3.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs.100.000 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	100.000	83.800	71.800
(b) Reserves & Surplus	1288.636	988.947	867.707
(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)	1388.636	1072.747	939.507
(3) Non-Current Liabilities
(a) long-term borrowings	8126.037	5515.502	2389.940
(b) Deferred tax liabilities (Net)	84.924	0.000	0.000
(c) Other long term liabilities	112.769	253.088	298.831
(d) long-term provisions	1.713	3.334	1.055
Total Non-current Liabilities (3)	8325.443	5771.924	2689.826
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	280.534	46.395	0.000
(c) Other current liabilities	2901.032	1306.207	15.359
(d) Short-term provisions	92.455	5.508	10.544
Total Current Liabilities (4)	3274.021	1358.110	25.903
TOTAL	12988.100	8202.781	3655.236
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1669.716	72.916	56.127
(ii) Intangible Assets	2.956	0.326	0.395
(iii) Capital work-in-progress	7634.213	6082.422	3044.333
(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	842.770	310.364	144.426
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	10149.655	6466.028	3245.281
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	214.945	65.618	0.000
(c) Trade receivables	243.704	0.000	0.000
(d) Cash and cash equivalents	1917.114	1430.997	392.806
(e) Short-term loans and advances	98.760	8.119	1.385
(f) Other current assets	363.922	232.019	15.764
Total Current Assets	2838.445	1736.753	409.955
TOTAL	12988.100	8202.781	3655.236

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
SALES
	Gross Income	1621.561	NA	NA
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
EXPENSES		NA	NA	NA
PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		476.973	NA	NA
FINANCIAL EXPENSES		107.170	NA	NA
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		320.394	NA	NA
DEPRECIATION/ AMORTISATION		92.288	NA	NA
PROFIT BEFORE TAX		228.106	NA	NA
TAX		139.901	NA	NA
PROFIT AFTER TAX		88.205	NA	NA
EARNINGS IN FOREIGN CURRENCY
	Export Earnings	1536.015	NIL	NA
TOTAL EARNINGS		1536.015	NIL	NA
IMPORTS
	Raw Materials	320.673	239.578	NA
TOTAL IMPORTS		320.673	239.578	NA
Earnings Per Share (Rs.)		8.82	NA	NA

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current maturities of long-term debt	1949.688	1210.957	0.000
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	265.416	(1540.750)	(13,738.44)
Net cash flows from (used in) operating activities	265.416	(2272.371)	(18,275.45)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	4.26	NA	NA
Return on Investment (ROI) (PBT/Networth)		0.16	NA	NA
Debt Equity Ratio (Total Debt /Networth)		7.26	6.27	2.54
Current Ratio (Current Asset/Current Liability)		0.87	1.28	15.83

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	71.800	83.800	100.000
Reserves & Surplus	867.707	988.947	1288.636
Share Application money pending allotment	0.000	0.000	0.000
Net worth	939.507	1072.747	1388.636
long-term borrowings	2389.940	5515.502	8126.037
Short term borrowings	0.000	0.000	0.000
Current maturities of long-term debt	0.000	1210.957	1949.688
Total borrowings	2389.940	6726.459	10075.725
Debt/Equity ratio	2.544	6.270	7.256

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	Yes
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	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 one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
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

FINANCIAL RESULTS

The Company’s Marine Chemicals Project in Hajipir envisaged setting up facilities for manufacture of Industrial Salt, Sulphate of Potash and Bromine. The Company has started its commercial activity for Industrial Salt in April 2013. During the first year of its commercial activity, the company achieved Sales volume of 1.095 million MTs with an export turnover of Rs.1619.013 million. The product quality has been established and has found acceptance with the end customers.

As regards other streams viz., Sulphate of Potash and Bromine, since close of the financial year, Bromine production has commenced and Sulphate of Potash operations are expected to commence shortly.

The Bromine product is transported in ISO Containers. Given the long cycle for completion of one shipment of Bromine through the containers for export markets, the Board has taken steps to augment the availability of the containers which would facilitate achievement of full capacity utilization of Bromine in the years to come.

The operations resulted in a Profit Before tax of Rs.228.106 million for the year ended 31st March 2014 and in order to conserve its resources for future operations, the Board is not declaring any dividend on equity shares during the year.

FUTURE OUTLOOK

In the first year of operations itself, the company established itself as a reliable and quality supplier of Industrial Salt to several destinations in the Far East markets. With active collaboration of the JV Partner viz, Sojitz Corporation, the company looks forward to further increase in the volume of Industrial Salt in the years to come.

As regards SOP, the premium fertilizer for High Value crops, the market continues to be good and the company looks forward to capitalize on the same once the production commences. As regards Bromine, the company has already made inroads into export as well as domestic market and looks forward to strengthen its position in the target markets.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from others	2103.493	1726.860
Loans and Advances from related parties	670.000	0.000
Total	2773.493	1726.860

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10581130	22/05/2015	926,300,000.00	BANK OF INDIA	LARGE CORPORATE BRANCH,, 4TH FLOOR, TARAPORE TOWE  RS, NO.826, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	C59451054
2	10555333	14/03/2015	773,300,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA  , KURLA COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA  - 400051, INDIA	C46822367
3	10512255	07/07/2014	226,700,000.00	PUNJAB NATIONAL BANK	LARGE CORPORATE BRANCH, RAYALA TOWERS, III FLOOR,  781 - 785, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	C14635874
4	10443057	25/07/2013	250,000,000.00	BANK OF INDIA	CHENNAI LARGE CORPORATE BRANCH, IV FLOOR, TARAPOR  E TOWERS, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	B82128240
5	10443070	25/07/2013	1,782,100,000.00	BANK OF INDIA	CHENNAI LARGE CORPORATE BRANCH, IV FLOOR, TARAPOR  E TOWERS, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	B82134677
6	10390424	25/07/2013 *	6,222,875,000.00	BANK OF INDIA	CHENNAI LARGE CORPORATE BRANCH, IV FLOOR, TARAPOR  E TOWERS, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	B82138819
7	10262954	04/10/2013 *	8,254,975,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	B90535147

* Date of charge modification

FIXED ASSETS

Tangible Assets

• Buildings
• Office building
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer Equipments

Intangible assets

• Computer software

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.65.62
UK Pound	1	Rs.101.73
Euro	1	Rs.73.26

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	KIN
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.