MIRA INFORM REPORT

Report No. :	495321
Report Date :	05.03.2018

IDENTIFICATION DETAILS

Name :	FERTIS INDIA PRIVATE LIMITED (w.e.f.10.04.2015)
Formerly Known As :	AVANTHI MARKETING AND SUPPLY CHAIN PRIVATE LIMITED
Registered Office :	6-3-668/10/56,Plot No. 56, 1st Floor, Durga Nagar Colony, Punjagutta, Hyderabad – 500082, Telangana
Mobile No.:	91-9441605812 (Mr. Ashok)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	06.08.2012
Com. Reg. No.:	36-082335
Capital Investment / Paid-up Capital :	INR 2.500 Million
CIN No.: [Company Identification No.]	U24100TG2012PTC082335
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	36AAKCA7932Q1ZX
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAKCA7932Q
Legal Form :	Private Limited Liability Company
Line of Business :	The company is in the business of buying, selling, manufacturing and trading of all kinds of chemical and petro chemicals used for the fertilizers. (Registered activity and also confirmed by management)
No. of Employees :	12 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2012. It is a manufacturer and trader of fertilizers and chemicals. For the financial year 2017, the company has reported a dip in its revenue by 64.55% as compared to the previous year but has managed to maintain decent profit margin of 8.31%. The sound financial risk profile of the company is marked by adequate net worth base along with negligible debt balance sheet profile. Rating takes into consideration the subject’s healthy Earnings Per Share of INR 269.15 against the Face Value of INR 10. Rating, however, gets constrained on account of huge decline in its operational revenue. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 05.03.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY

Name :	Mr. C. Ashok
Designation :	Senior Manager (Accounts and Finance)
Contact No.:	91-9441605812
Date :	03.03.2018

LOCATIONS

Registered Office :	6-3-668/10/56,Plot No. 56, 1st Floor, Durga Nagar Colony, Punjagutta, Hyderabad – 500082, Telangana, India
Tel. No.:	Not Available
Mobile No.:	91-9441605812 (Mr. Ashok)
Fax No.:	Not Available
E-Mail :	finance@fertis.com
Location:	Rented
Factory:	Plot No. 79, IDA, Phase II, Cherlapally, Hyderabad, Telangana, India

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Ranvir Sain Nanda

Designation :

Director

Address :

H.No.8-2-618/1/D, Road No.11, Banjara Hills, Hyderabad – 500034, Telangana, India

Date of Birth/Age :

04.03.1944

Qualification:

Chemical Engineer

Date of Appointment :

29.02.2016

DIN No.:

00008255

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
L24219TG1986PLC016607	NACL INDUSTRIES LIMITED	05/08/2017	-
U74999MH2016PTC283215	POORTI AGRI SERVICES PRIVATE LIMITED	30/09/2017	-

Name :

Mr. Venkata Durga Sai Surya Prakash Chadalawada

Designation :

Director

Address :

2 Apartments, F No 304, NCL, Kaveri Ramunaja Nilayam Shanthi Nagar, Masabtank, Hyderabad – 500028, Telangana, India

Date of Birth/Age :

26.01.1960

Qualification:

BE

Date of Appointment :

01/07/2016

DIN No.:

02349781

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U74140TG2011PTC073732	CEMT INTERNATIONAL CONSULTANTS PRIVATE LIMITED	07/04/2011	-

Name :

Mr. Hari Kumar

Designation :

Director

Address :

2-3-512/86, Bapu Nagar, Amberpet, Hyderabad – 500013, Telangana, India

Date of Birth/Age :

13.08.1983

Qualification:

MBA

Date of Appointment :

03.06.2013

DIN No.:

02604116

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U01119TG2007PTC055865	SWASA AGRO SOLUTIONS PRIVATE LIMITED	29/09/2009	-

KEY EXECUTIVES

Name :	Mr. C. Ashok
Designation :	Senior Manager (Accounts and Finance)

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Hari Kumar	10
D Venkata Krishna Raju	249990
Total	250000

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2017

Category	Percentage
Public/Other than promoters- Individual/Hindu Undivided Family- Indian	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is in the business of buying, selling, manufacturing and trading of all kinds of chemical and petro chemicals used for the fertilizers. (Registered activity and also confirmed by management)

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
The company’s Main business is buying selling, reselling, importing, exporting, transporting, Storing, refining and preparing of all kinds of Chemicals & Fertilizers and to undertake the Agriculture activities including raising of crops and to produce manufacture and process of the Agro based Products	24

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

L/C and Credit (60/90 Days)

Purchasing :

L/C and Credit (60/90 Days)

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

Retailers

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

No. of Employees :

12 (Approximately)

Bankers :

Banker Name :	Axis Bank
Branch :	--
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Auditors :
Name :	Sarangapani and Company Chartered Accountants
Address :	Gandhi Nagar, Hyderabad, Telangana, India
PAN N Income-tax PAN of auditor or auditor's firm :	ABZPC2635H
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	INR 10/- each	INR 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	INR 10/- each	INR 2.500 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2.500	2.500	0.100
(b) Reserves & Surplus	140.698	73.411	15.820
(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)	143.198	75.911	15.920
(3) Non-Current Liabilities
(a) long-term borrowings	2.739	0.000	0.000
(b) Deferred tax liabilities (Net)	0.555	0.000	0.000
(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)	3.294	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	434.078	519.801	524.592
(c) Other current liabilities	5.568	8.927	0.927
(d) Short-term provisions	39.070	32.623	5.917
Total Current Liabilities (4)	478.716	561.351	531.436
TOTAL	625.208	637.262	547.356
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	21.813	0.000	0.000
(ii) Intangible Assets	0.821	0.821	0.821
(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	0.066	0.066	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	22.700	0.887	0.821
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	74.245	66.107	67.208
(c) Trade receivables	507.272	550.004	443.983
(d) Cash and cash equivalents	5.938	13.818	32.692
(e) Short-term loans and advances	12.474	5.259	2.600
(f) Other current assets	2.579	1.187	0.052
Total Current Assets	602.508	636.375	546.535
TOTAL	625.208	637.262	547.356

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	809.328	2283.437	1805.669
	Other Income	127.135	96.083	83.615
	TOTAL	936.463	2379.520	1889.284
Less	EXPENSES
	Purchases of Stock-in-Trade	628.397	1956.840	1853.515
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(8.137)	1.101	(67.208)
	Employees benefits expense	10.361	2.355	0.300
	Administration expenses	0.000	0.000	3.723
	Other expenses	193.911	327.338	79.922
	TOTAL	824.532	2287.634	1870.252
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	111.931	91.886	19.032
Less	FINANCIAL EXPENSES	4.825	1.672	1.947
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	107.106	90.214	17.085
Less/ Add	DEPRECIATION/ AMORTISATION	0.195	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX	106.911	90.214	17.085
Less	TAX	39.624	32.623	5.917
	PROFIT/ (LOSS) AFTER TAX	67.287	57.591	11.168
	CIF VALUE OF IMPORTS	0.000	USD 983922.94	USD 870900
	Earnings / (Loss) Per Share (INR)	269.148	230.364	116.81

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	55.088	13.086	31.354
Net cash flows from (used in) operations	16.019	(19.536)	25.436

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	228.78	87.92	89.75
Account Receivables Turnover (Income / Sundry Debtors)	1.60	4.15	4.07
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	252.13	96.96	103.30
Inventory Turnover (Operating Income / Inventories)	1.51	1.39	0.28
Asset Turnover (Operating Income / Net Fixed Assets)	4.95	111.92	23.18

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.77	0.88	0.97
Debt Equity Ratio (Total Liability / Networth)	0.02	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.34	7.39	33.38
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.16	0.01	0.05
Interest Coverage Ratio (PBIT / Financial Charges)	23.20	54.96	9.78

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	8.31	2.52	0.62
Return on Total Assets ((PAT / Total Assets) * 100)	%	10.76	9.04	2.04
Return on Investment (ROI) ((PAT / Networth) * 100)	%	46.99	75.87	70.15

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.26	1.13	1.03
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.10	1.02	0.90
G-Score Ratio Financial (Networth / Total Assets)	0.23	0.12	0.03
G-Score Ratio Debt (Debts / Equity Capital)	1.10	0.00	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.26	1.13	1.03

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	0.100	2.500	2.500
Reserves & Surplus	15.820	73.411	140.698
Net worth	15.920	75.911	143.198
long-term borrowings	0.000	0.000	2.739
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	2.739
Debt/Equity ratio	0.000	0.000	0.019

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	1805.669	2283.437	809.328
		26.459	(64.557)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	1805.669	2283.437	809.328
Profit/(Loss)	11.168	57.591	67.287
	0.62%	2.52%	8.31%

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	Yes
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	Yes
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

CORPORATE INFORMATION

Subject is a Private Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in business of Fertilizers

BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIR

The Company is in the Business of buying, selling and manufacturing of all kinds of Fertilizers. On a standalone basis your company has reported gross revenue of INR 936.464 Million as against INR 2379.520 Million of revenues registered previous Year and Total Expenditure for the year was INR 829.553 Million as against INR 2289.307 Million in the previous Year. Nature of Business There is no change in the objects of the Company / activity of the Company during the financial year 2016-17 as envisaged and described in the Memorandum and Articles of Association of the Company.

UNSECURED LOANS:

Particulars	31.03.2017 INR In Million	31.03.2016 INR In Million
LONG TERM BORROWINGS
Other loans and advances	2.739	0.000
Total	2.739	0.000

INDEX OF CHARGE: No Charges Exists for Company

FIXED ASSETS:

• Plant and equipment
• Vehicles
• Motor vehicles
• 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 records 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	INR
US Dollar	1	INR 65.22
UK Pound	1	INR 89.70
Euro	1	INR 79.50

INFORMATION DETAILS

Information Gathered by :	SAV
Analysis Done by :	PRI
Report Prepared by :	NKTS

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.