MIRA INFORM REPORT

Report No. :	498025
Report Date :	16.03.2018

IDENTIFICATION DETAILS

Name :	JUBILANT AGRI AND CONSUMER PRODUCTS LIMITED (w.e.f. 10.05.2011)
Formerly Known As :	JUBILANT AGRI AND CONSUMER PRODUCTS PRIVATE LIMITED (w.e.f. 06.05.2011) JUBILANT AGRI AND RETAIL PRIVATE LIMITED (w.e.f. 07.03.2011) CANONICAL INFOTECH SOLUTIONS PRIVATE LIMITED
Registered Office :	Bhartiagram Gajraula, Jyotiba Phule Nagar, District Amroha - 244223, Uttar Pradesh
Tel. No.:	91-120-7186000
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	21.08.2008
Com. Reg. No.:	20-035862
Capital Investment / Paid-up Capital :	INR 26.470 Million
CIN No.: [Company Identification No.]	U52100UP2008PLC035862
IEC No.: [Import-Export Code No.]	Not Available
TIN No.:	09688820195
PAN No.: [Permanent Account No.]	AADCC4657M
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
GSTN : [Goods & Service Tax Registration No.]	09AADCC4657M1Z7
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject engaged in the business of manufacturing and sale of agri and consumer products. (Registered Activity)
No. of Employees :	Not Available

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

Maximum Credit Limit :	USD 1270000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a wholly owned subsidiary of Jubilant Industries Limited and was incorporated in the year 2008. The company has sound financial base and decent capital structure along with healthy networth position. Rating takes into consideration strong managerial and financial support received to the company from its holding entity, long standing track records of business operations and comfortable liquidity position. However, rating strength is partially offset due to losses incurred by the company from last 2 years of its business operations. Trade relations are reported as fair. Business is active. Payments are slow but correct. 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	INDIA RATNGS
Rating	Long term rating : BBB
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	23.06.2017

Rating Agency Name	INDIA RATNGS
Rating	Short term rating : A3+
Rating Explanation	Moderate degree of safety and higher credit risk
Date	23.06.2017

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 16.03.2018

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.

LOCATIONS

Registered Office :	Bhartiagram Gajraula, Jyotiba Phule Nagar, District Amroha - 244223, Uttar Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	investorsjil@jubl.com
Website :	www.jacpl.co.in
Corporate Office :	Plot No 15, IILM Road, Knowledge Park II, Greater Noida-201310, Uttar Pradesh, India
Tel. No.:	91-120-7186000
Fax No.:	91-120-4234881 / 84 / 85 / 87 / 95 / 96
E-Mail :	contactJACPL@jubl.com

DIRECTORS

As on 31.03.2017

Name :

Mr. Umesh Sharma

Designation :

Whole-Time Director

Address :

A-303, Golf Enclave, CGHS, Plot No.27, Phase-III, Sector 21-C, Faridabad 121001, Haryana, India

Date of Appointment :

15.12.2017

DIN No.:

01490553

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U80301DL2011PTC226705	INDIA EDUCATION SERVICES PRIVATE LIMITED	12/01/2018	-
U35303UP2010PTC046796	JUBILANT AERONAUTICS PRIVATE LIMITED	30/09/2015	-
U35122UP2015PTC070963	JUBILANT OFFSHORE PRIVATE LIMITED	26/05/2015	-
U74900BR2015PLC025243	HT DIGITAL STREAMS LIMITED	11/01/2018	-
U50100UP2009PTC043765	JUBILANT MOTORWORKS PRIVATE LIMITED	27/09/2012	-
U74900DL2009PLC187795	HT MOBILE SOLUTIONS LIMITED	24/09/2015	-
U52590UP2008PTC043689	JUBILANT CONSUMER PRIVATE LIMITED	30/09/2015	-
U74899DL1995PTC072074	GPS STOCK BROKERS PRIVATE LIMITED	29/09/2007	-
U31900DL1993PLC056196	ENPRO SECAN INDIA LIMITED	25/06/2010	-
U51909DL1995PTC185318	DIGNESH SUPPLIERS PRIVATE LIMITED	28/09/2007	-
U51909DL1995PTC185317	COUGAR SALES AGENCY PRIVATE LIMITED	28/09/2007	-
U65921DL1994PTC185321	LOVE LIFE VINIMAY PRIVATE LIMITED	28/09/2007	-
U52393DL1993PTC185319	BESTLUCK VANIJYA PRIVATE LIMITED	28/09/2007	-
U51909DL1993PTC185320	WESTCOST VYAPAAR PRIVATE LIMITED	28/09/2007	-
U51109DL1993PTC185324	KLINTON AGENCIES PRIVATE LIMITED	28/09/2007	-
U51909DL1993PTC185322	SPEEDAGE VINIMAY PRIVATE LIMITED	28/09/2007	-
U65999DL1989PTC185316	SKYLARK HOLDINGS PRIVATE LIMITED	28/09/2007	-

Name :

Mr. Priyavrat Bhartia

Designation :

Director

Address :

19 Friends Colony (West), New Delhi-110065, India

Date of Birth/Age :

04.10.1976

Date of Appointment :

09.05.2011

PAN No.:

AEAPB6177P

DIN No.:

00020603

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74999DL2017PLC322147	DIGICONTENT LIMITED	14/08/2017	-
U74899DL1927PLC000155	THE HINDUSTAN TIMES LTD	22/10/1998	-
U18101DL1983PLC099631	UDIT ( INDIA ) LIMITED	31/08/2006	-
L22121DL2002PLC117874	HT MEDIA LIMITED	23/03/2015	-
U51909UP2004PTC043687	JUBILANT REALTY PRIVATE LIMITED	04/05/2007	-
L21090BR1918PLC000013	HINDUSTAN MEDIA VENTURES LIMITED	18/05/2017	-
L24116UP1978PLC004624	JUBILANT LIFE SCIENCES LIMITED	29/08/2017	-
U74900MH2013PTC242820	ARS TRUSTEE COMPANY PRIVATE LIMITED	31/03/2015	-
U70102UP2013PTC054995	SSBPB INVESTMENT HOLDING PRIVATE LIMITED	28/09/2017	-
U74120UP2013PTC054736	SPB TRUSTEE COMPANY PRIVATE LIMITED	18/01/2013	-
L24100UP2007PLC032909	JUBILANT INDUSTRIES LIMITED	23/08/2011	-
U74120UP2013PTC054822	JUBILANT ENPRO PRIVATE LIMITED	01/04/2016	-
U74120UP2013PTC054820	JUBILANT ENPRO SERVICES PRIVATE LIMITED	03/06/2015	-
U74120UP2013PTC054755	SSP TRUSTEE COMPANY PRIVATE LIMITED	15/10/2013	-
U74999DL2012PTC244434	SB TRUSTEESHIP SERVICES PRIVATE LIMITED	05/11/2012	-
U74140DL2012PTC244410	PSB TRUSTEE COMPANY PRIVATE LIMITED	05/11/2012	-
U67120UP2008PTC065196	EARTHSTONE HOLDING (TWO) PRIVATE LIMITED	29/05/2008	-
AAB-1831	PRIYAVRAT COMPUTERS LLP	23/10/2012	-
AAB-2090	SHOBHANA COMMUNICATIONS LLP	08/11/2012	-
AAB-3440	SPB MANAGEMENT ADVISORS LLP	01/02/2013	-
AAB-3541	SSBSB ADVISORS LLP	11/02/2013	30/08/2013
AAB-3620	SSBPB ADVISORS LLP	15/02/2013	-

Name :

Shamit Bhartia

Designation :

Director

Address :

19 Friends Colony (West), New Delhi-110065, India

Date of Birth/Age :

27.04.1979

Date of Appointment :

18.01.2012

PAN No.:

AEHPB2110D

DIN No.:

00020623

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74120UP2013PTC054866	SS TRUSTEE COMPANY PRIVATE LIMITED	01/02/2013	-
U74899DL1927PLC000155	THE HINDUSTAN TIMES LTD	17/02/2006	-
U74899UP1990PTC043659	INDIAN COUNTRY HOMES PRIVATE LIMITED	10/05/2007	-
U74120UP2013PTC054820	JUBILANT ENPRO SERVICES PRIVATE LIMITED	03/06/2015	-
L74899UP1995PLC043677	JUBILANT FOODWORKS LIMITED	28/08/2017	-
U74120UP2013PTC054865	SBS TRUSTEE COMPANY PRIVATE LIMITED	01/02/2013	-
U74140DL2012PTC244298	SSB TRUSTEE COMPANY PRIVATE LIMITED	31/10/2012	-
U74999DL2012PTC244581	SHOBHANA TRUSTEE COMPANY PRIVATE LIMITED	07/11/2012	-
U27109DL1981PLC099622	USHA FLOWELL LIMITED.	29/06/1998	-
U67120DL1990PLC099624	GOLDMERRY INVESTMENT & TRADING COMPANY LIMITED	29/09/2012	-
U80900DL2010PLC198772	HT LEARNING CENTERS LIMITED	05/02/2010	-
U50100UP2009PTC043765	JUBILANT MOTORWORKS PRIVATE LIMITED	01/04/2016	-
L22121DL2002PLC117874	HT MEDIA LIMITED	01/02/2017	-
L21090BR1918PLC000013	HINDUSTAN MEDIA VENTURES LIMITED	04/02/2017	-
U67120UP2008PTC065196	EARTHSTONE HOLDING (TWO) PRIVATE LIMITED	29/05/2008	-
L24100UP2007PLC032909	JUBILANT INDUSTRIES LIMITED	28/08/2012	-
AAB-1764	SHAMIT MEDIA LLP	19/10/2012	-
AAB-1730	SHOBHANA PRINT MEDIA LLP	18/10/2012	-
AAB-3542	SBSSB ADVISORS LLP	29/08/2013	-
AAB-3541	SSBSB ADVISORS LLP	29/08/2013	-

Name :

Mr. Ramanathan Bupathy

Designation :

Director

Address :

Pushpa Flats, M-68 Plot No. 3564, Vi Avenue, Anna Nagar East, Chennai 600102, Tamilnadu, India

Date of Birth/Age :

10.09.1951

Date of Appointment :

09.05.2012

PAN No.:

AACPB9431A

DIN No.:

00022911

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U65910KL1991PTC006106	GEOJIT CREDITS PRIVATE LIMITED	25/01/2017	-
U72900KL2004PTC017332	GEOJIT TECHNOLOGIES PRIVATE LIMITED	09/07/2010	-
L67120KL1994PLC008403	GEOJIT FINANCIAL SERVICES LIMITED	05/01/2006	-
L24100UP2007PLC032909	JUBILANT INDUSTRIES LIMITED	23/08/2011	-
U74999TN2013PTC091090	RBCO CONSULTANCY PRIVATE LIMITED	10/05/2013	-

Name :

Mr. Sushil Kumar Roongta

Designation :

Director

Address :

D - 91, DLF Pinnacle, DLF Phase - V, Opposite DLF Golf Course, Gurugram-122009, Haryana, India

Date of Birth/Age :

09.05.1950

Date of Appointment :

09.05.2012

PAN No.:

AAAPR4551P

DIN No.:

00309302

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U28999DL2010PLC205966	HERO STEELS LIMITED	15/02/2016	-
U40101PB2007PLC031035	TALWANDI SABO POWER LIMITED	14/07/2012	-
L24100UP2007PLC032909	JUBILANT INDUSTRIES LIMITED	23/08/2011	-
L24116UP1978PLC004624	JUBILANT LIFE SCIENCES LIMITED	29/08/2017	-
L40106DL1981PLC012228	SPML INFRA LIMITED	30/09/2016	-
U74899DL1965PLC004518	BHARAT ALUMINIUM CO LTD	19/06/2012	-
U48985WB1992PLC095301	GREAT EASTERN ENERGY CORPORATION LIMITED	26/09/2017	-
U67190TN1995PLC069644	STERLITE ENERGY LIMITED	14/07/2012	-
L26940MH1936PLC002515	ACC LIMITED	13/04/2011	-

Name :

Mr. Shivpriya Nanda

Designation :

Director

Address :

606-A, Block-B Sushant Lok - I, Phase-I, Gurugram-122002, Haryana, India

Date of Birth/Age :

04.05.1963

Date of Appointment :

06.08.2014

PAN No.:

AABPN9006E

DIN No.:

01313356

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U26939KL1963PLC002039	EICL LIMITED	15/06/2015	-
U51109DL2000PTC104481	SEAGRAM MARKETING PRIVATE LIMITED	16/03/2000	-
L24100UP2007PLC032909	JUBILANT INDUSTRIES LIMITED	02/09/2014	-

MAJOR SHAREHOLDERS

As on 31.03.2017

Names of Shareholders (Equity Shares)	No. of Shares
Jubilant Industries Limited, India	49993
Jubilant Industries Limited jointly with Videh Kumar Jaipuriar	1
Jubilant Industries Limited jointly with Prakash Chandra Bisht	1
Jubilant Industries Limited jointly with Sandeep Kumar Shaw	1
Jubilant Industries Limited jointly with Sanjay Das	1
Jubilant Industries Limited jointly with Arun Sharma	1
Jubilant Industries Limited jointly with Ashwani Malhotra	1
Jubilant Industries Limited jointly with Dinesh Kumar Gupta	1
Total	50000

Names of Shareholders (10% Optionally convertible non-cumulative redeemable preference shares)	No. of Shares
Jubilant Industries Limited, India	1648817
Total	1648817

Names of Shareholders (10% Non-cumulative redeemable preference shares)	No. of Shares
Jubilant Industries Limited, India	974800
Total	974800

Equity Share Break up (Percentage of Total Equity)

As on 29.08.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family – Indian)	0.01
Promoters (Body corporate)	99.99
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject engaged in the business of manufacturing and sale of agri and consumer products. (Registered Activity)

Products / Services :

Item Code No.	Products/Services Description
35069190	Adhesives

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 Available
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

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

No. of Employees :

Not Available

Bankers :

Banker Name :	RBL Bank Limited
Branch :	Shahupuri, Kolhapur-416001, Maharashtra, India
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 :	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Rupee term loans from banks	1312.500	1462.500
Rupee term loans from others	3.450	3.360
Short-term borrowings
Rupee term loans from others	315.000	315.000
Loans repayable on demand from others	507.700	534.350
Total	2138.650	2315.210

Auditors :
Name :	K. N. Gutgutia and Company Chartered Accountants
Address :	11-K Gopala Tower, Rajendra Place, Delhi-110008, India
Income-tax PAN of auditor or auditor's firm :	AACFK6448G
Memberships :	Not Available
Collaborators :	Not Available
Holding Company:	Jubilant Industries Limited CIN No.: L24100UP2007PLC032909
Fellow Subsidiary Company:	Jubilant Industries Inc. USA
Enterprise over which directors and major shareholders of the Company have significant influence:	· Jubilant Life Sciences Limited Jubilant · Life Sciences (USA) Inc. USA · Jubilant Generics Limited · Jubilant Enpro Private Limited · Jubilant Motor Works Private Limited · JOGPL Private Limited (formerly known as Jubilant Oil and Gas (P) Limited).
Other related parties :	· Pace Marketing Specialities Limited Officer's Superannuation Scheme (Trust) · VAM Employees Provident Fund Trust, Jubilant · Bhartia Foundation

CAPITAL STRUCTURE

As on 29.08.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	INR 10/- each	INR 1.000 Million
1900000	10% Optionally Convertible Non- Cumulative Redeemable Preference Shares	INR 10/- each	INR 19.000 Million
1000000	10% Non- Cumulative Redeemable Preference Shares	INR 10/- each	INR 10.000 Million
	Total		INR 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	INR 10/- each	INR 0.500 Million
1648817	10% Optionally Convertible Non- Cumulative Redeemable Preference Shares	INR 10/- each	INR 16.488 Million
974800	10% Non- Cumulative Redeemable Preference Shares	INR 10/- each	INR 9.748 Million
	Total		INR 26.736 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	26.740	26.740	26.740
(b) Reserves and Surplus	417.280	422.070	556.260
(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)	444.020	448.810	583.000
(3) Non-Current Liabilities
(a) long-term borrowings	1355.950	1705.860	1625.370
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	37.290	36.390	205.180
(d) long-term provisions	110.580	95.960	101.190
Total Non-current Liabilities (3)	1503.820	1838.210	1931.740
(4) Current Liabilities
(a) Short-term borrowings	944.860	999.350	1376.720
(b) Trade payables	652.590	506.510	990.690
(c) Other current liabilities	668.990	350.720	842.020
(d) Short-term provisions	192.160	190.440	419.120
Total Current Liabilities (4)	2458.600	2047.020	3628.550
TOTAL	4406.440	4334.040	6143.290
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1308.570	1225.890	2076.830
(ii) Intangible Assets	1.700	2.840	758.410
(iii) Tangible assets capital work-in-progress	29.090	65.620	33.920
(iv) Intangible assets under development	1.530	0.000	12.400
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	911.650	911.650	0.000
(d) Long-term loans and advances	45.570	47.720	307.850
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2298.110	2253.720	3189.410
(2) Current assets
(a) Current investments	0.080	0.080	0.080
(b) Inventories	518.960	515.600	1007.110
(c) Trade receivables	1198.090	1043.760	1180.460
(d) Cash and bank balances	27.620	30.770	220.570
(e) Short-term loans and advances	362.750	489.060	542.740
(f) Other current assets	0.830	1.050	2.920
Total Current Assets	2108.330	2080.320	2953.880
TOTAL	4406.440	4334.040	6143.290

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Revenue from operations	4816.550	5601.880	8348.420
	Other Income	8.740	30.540	22.240
	TOTAL	4825.290	5632.420	8370.660
Less	EXPENSES
	Cost of Materials Consumed	2497.390	2319.650	2972.440
	Purchases of Stock-in-Trade	75.950	777.540	2549.680
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(32.840)	141.940	77.690
	Employee benefit expense	687.090	817.250	987.480
	Other expenses	1201.460	1286.000	1984.270
	Exceptional items	8.620	749.360	233.490
	TOTAL	4437.670	6091.740	8805.050
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	387.620	(459.320)	(434.390)
Less	FINANCIAL EXPENSES	296.230	412.080	380.960
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	91.390	(871.400)	(815.350)
Less/ Add	DEPRECIATION/ AMORTISATION	89.900	174.440	306.060
	PROFIT/ (LOSS) BEFORE TAX	1.490	(1045.840)	(1121.410)
Less	TAX	6.280	(911.650)	0.000
	PROFIT/ (LOSS) AFTER TAX	(4.790)	(134.190)	(1121.410)
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	921.630	903.430	1069.690
	TOTAL EARNINGS	921.630	903.430	1069.690
	IMPORTS
	Raw Materials	1042.910	1123.000	1800.120
	Components and spare parts	2.760	3.250	0.440
	Capital Goods	0.000	3.690	6.750
	TOTAL IMPORTS	1045.670	1129.940	1807.310
	Earnings / (Loss) Per Share (INR)	(95.81)	(2683.76)	(22428.25)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	350.000	37.500	555.360
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	480.500	480.080	(143.380)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	90.79	68.01	51.61
Account Receivables Turnover (Income / Sundry Debtors)	4.02	5.37	7.07
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	92.56	59.69	65.48
Inventory Turnover (Operating Income / Inventories)	0.75	(0.89)	(0.43)
Asset Turnover (Operating Income / Net Fixed Assets)	0.29	(0.35)	(0.15)

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.95	0.87	0.95
Debt Equity Ratio (Total Liability / Networth)	5.97	6.11	6.10
Current Liabilities to Networth (Current Liabilities / Net Worth)	5.54	4.56	6.22
Fixed Assets to Networth (Net Fixed Assets / Networth)	3.02	2.88	4.94
Interest Coverage Ratio (PBIT / Financial Charges)	1.31	(1.11)	(1.14)

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	(0.10)	(2.40)	(13.43)
Return on Total Assets ((PAT / Total Assets) * 100)	%	(0.11)	(3.10)	(18.25)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(1.08)	(29.90)	(192.35)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.86	1.02	0.81
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.65	0.76	0.54
G-Score Ratio Financial (Networth / Total Assets)	0.10	0.10	0.09
G-Score Ratio Debt (Debts / Equity Capital)	99.13	102.57	133.04
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.86	1.02	0.81

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

FINANCIAL ANALYSIS

[all figures are in 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	26.740	26.740	26.740
Reserves & Surplus	556.260	422.070	417.280
Net worth	583.000	448.810	444.020
long-term borrowings	1625.370	1705.860	1355.950
Short term borrowings	1376.720	999.350	944.860
Current maturities of long-term debts	555.360	37.500	350.000
Total borrowings	3557.450	2742.710	2650.810
Debt/Equity ratio	6.102	6.111	5.970

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	8348.420	5601.880	4816.550
		(32.899)	(14.019)

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	8348.420	5601.880	4816.550
Profit/ (Loss)	(1121.410)	(134.190)	(4.790)
	(13.43%)	(2.40%)	(0.10%)

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	No
8]	Designation of contact person	No
9]	Promoter’s background	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners	Yes
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 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	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

CORPORATE INFORMATION

The Company is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is wholly owned subsidiary of Jubilant Industries Limited and presently engaged in the business of manufacturing and sale of agri and consumer products. The Company caters to both domestic and international markets.

STATE OF COMPANYS AFFAIR AND OPERATIONS

During the year, Jubilant Agri and Consumer Products Limited has been engaged in the business of Agri Products comprising of wide range of crop nutrition, crop growth and crop protection, Performance Polymers comprising of consumer products, Food Polymers and VP Latex.

During FY 2017, the Company has revenue from operations INR 5195.370 million. The net loss after tax for the year 2017 is INR 4.790 million

UNSECURED LOAN

PARTICULAR	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Rupee term loans from others	40.000	240.000
Short-term borrowings
Loans repayable on demand from others	122.160	150.000
Total	162.160	390.000

INDEX OF CHARGES

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G46633624	100104829	RBL BANK LIMITED	16/06/2017	-	-	500000000.0	SHAHUPURI,KOLHAPUR, KOLHAPUR Ma 416001 IN
2	G44068716	100098139	RBL BANK LIMITED	02/05/2017	-	-	750000000.0	SHAHUPURI,KOLHAPUR, KOLHAPURMa 416001 IN
3	G11921582	100036525	VISTRA ITCL (INDIA) LIMITED	28/06/2016	16/09/2016	-	1500000000.0	IL & FS FINANCIAL CENTRE PLOT NO C22 G BLOCK BANDRA KURLA COMPLEX BANDRA EAST MUMBAI MH 400051 IN
4	G52337714	10612273	Axis Bank Limited	30/12/2015	22/06/2017	-	1500000000.0	Corporate Credit Service Unit, B2 & B3Sector 16, Noida UP 201301 IN
5	C61757852	10488260	Axis Bank Limited	26/03/2014	23/06/2015	-	2850000000.0	B-2 & b-3Sector-16 Noida UP 201301 IN
6	C75543405	10376147	IL & FS TRUST COMPANY LIMITED	30/08/2012	29/10/2015	12/01/2016	1200000000.0	IL & FS FINANCIAL CENTRE PLOT NO C22 G BLOCK BANDRA KURLA COMPLEX BANDRA EAST MUMBAI MH 400051 IN
7	C75523134	10462818	IL & FS TRUST COMPANY LIMITED	14/11/2013	29/10/2015	12/01/2016	850000000.0	IL & FS FINANCIAL CENTRE PLOT NO C22 G BLOCK BANDRA KURLA COMPLEX BANDRA EAST MUMBAI MH 400051 IN
8	C75401554	10541324	YES BANK LIMITED	19/12/2014	04/08/2015	08/01/2016	600000000.0	9th Floor, Nehru Centre, Discovery of IndiaDr. Annie Besant Road, Worli Mumbai MH 400018 IN
9	C36989366	10387354	CORPORATION BANK	25/10/2012	-	09/12/2014	650000000.0	CORPORATE BANKING BRANCH10th FLOOR, Hinduatan Times House,18/20 K.G. Marg NEW DELHI 110001 IN
10	C35784669	10413586	IDBI Bank Limited	22/03/2013	-	04/12/2014	750000000.0	INDIAN REDCROSS SOCIETY BUILDING 1, RED CROSS ROAD NEW DELHI 110001 IN

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Claims against Company not acknowledged as debt*:
a) Claims/Demands in respect of which proceeding or appeals are pending and are not acknowledged as debts on account of:
Central excise	26.600	42.230
Customs	9.130	8.460
Sales tax	4.680	2.170
Service tax	0.330	3.270
Others	60.520	60.520
* Inclusive of contingent liabilities taken over in term of the Business Transfer Agreement and Scheme of Arrangement. Certain of the above demands are still in the name of Jubilant Industries Limited/ Jubilant Life Sciences Limited.
ii) In respect of Single super phosphate (SSP) the Trade Tax Assessing Officer, Gajraula, has assessed the Gypsum Content of SSP and held that the same is liable to trade tax, though, there is no tax on fertilizer for the period 1 April 2002 to 31 December 2007 and raised a demand of INR34.450 million (Previous Year: INR34.450 million). The same is being contested before Hon'ble Allahabad High Court by Jubilant Life Sciences Limited but any possible liability will flow to the Company in terms of the Scheme. iii) A civil suit (OS No. 5549/2013) has been filed by Kids Kemp (the lessor) against Food Express Stores and the Company, and the same is pending before the City Civil Court Bangalore. Part of the claims were settled by means of a compromise petition between the parties and the remaining claims amounting to INR 23.100 million (Previous Year: INR 23.100 million) relate to claims for past periods. The company has filed detailed statement of objections and is strongly contesting the claims on a number of grounds, including that a significant part of the claims is barred by the law of limitation. The company is reasonably confident that its position will be upheld by the court. Hence, no liability is acknowledged. This relates to the Retail business which has been sold out. iv) Another suit (OS No. 5561/2014) is pending before the City Civil Court, Bangalore and has been filed against the company by Shivashakti Builders (the lessor) amounting to INR 218.860 million (Previous Year: INR 218.860 million). The matter relates to damages allegedly suffered by the plaintiff due to the termination of a lease arrangement by the Company. The company has filed detailed objections to the plaint and has explained the reasons as to why it terminated the lease arrangement. The matter is pending in trial and the company is reasonably confident of its chances of success in this matter. This relates to Retail business which has been sold out.

FIXED ASSETS

• Land
• Building
• Furniture and Fixture
• Computer
• Plant and Machinery

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 64.99
UK Pound	1	INR 90.82
Euro	1	INR 80.58

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	JYTK

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	YES
--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.

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