MIRA INFORM REPORT

Report No. :	508676
Report Date :	10.05.2018

IDENTIFICATION DETAILS

Name :	PARAKH AGRO INDUSTRIES LIMITED (w.e.f. 17.01.1994)
Formerly Known As :	PARAKH AGRO INDUSTRIES PRIVATE LIMITED
Registered Office :	Gate No. 45/ 1, 2, 3, Village Bhandgoan, Taluka Daund, Bhandgoan – 412214, Maharashtra
Tel. No.:	91-20-66296100
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	20.07.1987
Com. Reg. No.:	11-132583
Capital Investment / Paid-up Capital :	INR 48.000 Million
CIN No.: [Company Identification No.]	U01403PN1987PLC132583
IEC No.: [Import-Export Code No.]	3194011511
TIN No.:	27590345283
PAN No.: [Permanent Account No.]	AABCP0314L
TAN No.: [Tax Deduction & Collection Account No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	27AABCP0314L1ZM
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing of Food Products (Registered activity)
No. of Employees :	Information declined by the management

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 3500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of “Parakh Group” incorporated in the year 1987 and is engaged in manufacturing FMCG commodities like manufacturing of wheat products, chakki atta, all types of pulses and besan, packaging film and energy generation (Windmill). The company having a fine track record. As per the financial record of March 2017, the company has registered 29.08% decline in its total revenue as compared to previous year and has also reported low profit margin of 1.51% during the year. Rating takes into consideration, the sound financial risk profile marked by adequate net worth base along with comfortable debt protection metrics. Rating further takes into account the long standing experience of the promoters and established position of the company as it is one of the leading processor of wheat and pulses in India with strong presence of the “Samrat” and “Nirmani” brands wheat flour and refined oil under the brand name of “Vilina” and wide distribution network in domestic as well as overseas markets. However, these rating is partially offset by the by the competitive and fragmented industry, vulnerability to raw material prices as wheat and various pulses form key raw material for the company and exposure to agro climatic condition which results to inability of subjects to scale up its operations without facing profitability pressure. Payments seems to be regular. 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	ICRA
Rating	Long Term Bank Facilities=A-
Rating Explanation	Adequate degree of safety and low credit risk.
Date	29.09.2017

Rating Agency Name	ICRA
Rating	Short Term Bank Facilities=A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	29.09.2017

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 31-03-2018.

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 10.05.2018

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 DENIED

Management non-cooperative (Tel No.: 91-20-66296100)

LOCATIONS

Registered Office/ Factory 1 :	Gate No. 45/ 1, 2, 3, Village Bhandgoan, Taluka Daund, Bhandgoan – 412214, Maharashtra, India
Tel. No.:	91-20-66296100
Mobile No.:	91-9869009040 (Mr. Nitin Chavan)
Fax No.:	Not Available
E-Mail :	cs@parakhagro.com
Website :	http://www.parakhagro.com
Corporate Office :	Parakh House, 01 Boat Club Road, Pune – 400001, Maharashtra, India
Tel. No.:	91-20-24261733/ 66296100
Fax No.:	91-20-24263211/ 66296199
Branch Office :	Plot No. D-230, T.T.C. Industrial Area, Thane Belapur Road, Opposite Tata Press, Shirawane – 400613, Maharashtra, India
Tel. No.:	91-22-27632745-47/ 27685702
Fax No.:	91-22-27632755
Factory 2 :	Village Devnave, Pali Road, Khopoli, Taluka-Khalapur, District Raigad – 410203, Maharashtra, India
Factory 3 :	Food Processing Park, Plot No.93-142 A.B. Road, Nimrani, Tahsil-Kasravad, District Khargaon, Madhya Pradesh, India
Factory 4 :	Plot No. 812 and 813, Sector No. III, Pithampur Industrial Area, District Dhar, Madhya Pradesh, India
Factory 5 :	Plot No. 73, Taloja Industrial Area, Village - Tongre, Taluka Panvel, District Raigad, Maharashtra, India
Factory 6 :	Plot No. D-230, T. T. C. Industrial Area, Thane-Belapur Road, Opposite Tata Press, Shirawane, Maharashtra, India

DIRECTORS

As on 31.03.2017

Name :

Mr. Suresh Harakchand Parakh

Designation :

Managing director

Address :

584/1, Salibury Park, Pune – 411001, Maharashtra, India

Date of Birth/Age :

15.04.1963

Date of Appointment :

01.04.2013

PAN No.:

AAXPP9220A

DIN No.:

00337190

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U74999PN1981PLC023874	EM-KAY AGENCIES LIMITED	29/09/2017	-
U01403PN1987PLC132583	PARAKH AGRO INDUSTRIES LTD	20/07/1987	-
U15142PN1993PLC071164	PARAKH FOODS AND OILS LIMITED	15/04/2016	-
U74900PN2016NPL158426	H K PARAKH WELFARE FOUNDATION	13/02/2016	-

Name :

Mr. Mahavir Rikhabchand Dugad

Designation :

Whole-time director

Address :

208/ 5647, Anita Kutir Housing Society, Pant Nagar, Santacruz (East), Mumbai – 400075, Maharashtra, India

Date of Birth/Age :

09.09.1972

Date of Appointment :

01.11.2013

PAN No.:

AAIPD4289Q

DIN No.:

02687353

Name :

Mr. Vinay Ganpatrao Nalawade

Designation :

Whole-time director

Address :

3/TI Models Residency, Nt St Ines Church St Ines, Panji – 403002, Goa, India

Date of Birth/Age :

20.10.1968

Qualification :

B.E., M.B.A

Date of Appointment :

01.04.2013

DIN No.:

02696856

Name :

Mr. Harshal Suresh Parakh

Designation :

Whole-time director

Address :

584/1, Salisbury Park, Pune – 411037, Maharashtra, India

Date of Birth/Age :

19.06.1988

Qualification :

Post Graduate

Date of Appointment :

01.01.2013

PAN No.:

AOXPP4819B

DIN No.:

05357867

Name :

Mr. Mayank Suresh Parakh

Designation :

Whole-time Director

Address :

Parakh Villa, Bungalow No. 8A Prince of Wales Drive, Wanowrie, Pune – 411040, Maharashtra, India

Date of Appointment :

15.04.2016

DIN No.:

07488760

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U74900PN2016NPL158426	H K PARAKH WELFARE FOUNDATION	11/12/2017	-

Name :

Mr. Aayush Deora

Designation :

Director

Address :

H. No. 25-26, Shankar Bagh, Mari Mata, Indore - 452001, Madhya Pradesh, India

Date of Appointment :

10.01.2015

DIN No.:

00021328

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U31300MP1972PTC001116	SKYLINE INDUSTRIES PRIVATE LIMITED	05/01/2007	-

Name :

Mr. Prakash Harakchand Parakh

Designation :

Director

Address :

584/1, Salibury Park, Pune – 411001, Maharashtra, India

Date of Birth/Age :

23.03.1956

Qualification :

Under Graduate

Date of Appointment :

01.04.2013

PAN No.:

AAXPP9219R

DIN No.:

00337188

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U74999PN1981PLC023874	EM-KAY AGENCIES LIMITED	29/09/2017	-
U15142PN1993PLC071164	PARAKH FOODS AND OILS LIMITED	01/04/2009	-
U74220PN2002NPL017463	NATIONAL AGRICULTURE AND FOOD ANALYSIS AND RESEARCH INSTITUTE	29/11/2002	-
U70102PN2005PTC021651	JOLLYMAKER ESTATES PRIVATE LIMITED	08/12/2005	-
U74900PN2016NPL158426	H K PARAKH WELFARE FOUNDATION	13/02/2016	-
U74999PN2017PTC173961	SAP OLEOCHEMICALS PRIVATE LIMITED	21/12/2017	-

Name :

Mrs. Anju Suresh Parakh

Designation :

Director

Address :

584/1, Salisbury Park, Pune – 411037, Maharashtra, India

Date of Birth/Age :

09.05.1968

Date of Appointment :

01.08.2014

DIN No.:

00337215

Name :

Mr. Kaushik Nitin Kothari

Designation :

Director

Address :

6/B, Moti Buag Prem Nagar, Satara Road, Pune - 411037, Maharashtra, India

Date of Birth/Age :

17.07.1985

Date of Appointment :

10.01.2015

DIN No.:

02585197

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U15142PN1993PLC071164	PARAKH FOODS AND OILS LIMITED	30/09/2017	-
U50404PN2009PTC133806	KOTHARI AUTO LINK PRIVATE LIMITED	09/02/2015	-

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares
Prakash Harakchand Parakh	18299600
Suresh Harakchand Parakh	19199600
Asha Prakash Parakh	5700000
Anju Suresh Parakh	4800000
Harshal Suresh Parakh	200
Mayank Suresh Parakh	200
Akash Prakash Parakh	400
Total	48000000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family-Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Food Products (Registered activity)

Products :

Item Code No.	Product Description
98051000	Processed Food Items
48119092	Packaging Film

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

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 :

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

No. of Employees :

Information declined by the management

Bankers :

Bank Name	HDFC Bank Limited
Branch	HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

· Kotak Mahindra Bank Limited, 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India

· Corporation Bank, H-2406, Aditi Commerce Centre, Gen. Thimmaya Road, East Street, Camp, Pune - 411001, Maharashtra, India

· Bayerische Landesbank, Brienner Strasse, 18 Munich NA 80333 DE

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Rupee term loans from banks	657.218	470.424
Rupee term loans from others	73.680	106.892
Short-term borrowings
Foreign currency term loans from banks	103.595	4.657
Working capital loans from banks	531.474	544.914
Other loans and advances	0.000	10.751
Total	1365.967	1137.638

Auditors :
Name :	Khandelwal Jain and Associates Chartered Accountants
Address :	1st Floor, Alankar Cinema Building, Near Railway Station, Pune- 411 001, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAOFK4306M
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Em-Kay Agencies Limited Parakh Foods and Oils Limited Parakh International Limited Gemini Developers Arihant Developers Samrat Developers

CAPITAL STRUCTURE

As on 30.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
500000000	Equity Shares	INR 1/- each	INR 500.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
48000000	Equity Shares	INR 1/- each	INR 48.000 Million

FINANCIAL DATA

[all figures are in 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	48.000	48.000	480.000
(b) Reserves and Surplus	1171.515	1024.270	1015.619
(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)	1219.515	1072.270	1495.619
(3) Non-Current Liabilities
(a) long-term borrowings	797.683	577.786	973.893
(b) Deferred tax liabilities (Net)	165.725	160.910	195.727
(c) Other long-term liabilities	31.007	12.793	12.443
(d) long-term provisions	20.681	14.391	26.336
Total Non-current Liabilities (3)	1015.096	765.880	1208.399
(4) Current Liabilities
(a) Short-term borrowings	635.069	560.322	1005.097
(b) Trade payables	244.550	113.194	300.694
(c) Other current liabilities	259.817	316.291	444.112
(d) Short-term provisions	16.462	16.055	16.527
Total Current Liabilities (4)	1155.898	1005.862	1766.430
TOTAL	3390.509	2844.012	4470.448
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1414.273	1441.559	1894.770
(ii) Intangible Assets	0.502	0.176	0.685
(iii) Tangible assets capital work-in-progress	151.694	48.481	8.654
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	175.685
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	131.453	108.961	281.091
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1697.922	1599.177	2360.885
(2) Current assets
(a) Current investments	0.000	0.000	135.171
(b) Inventories	979.098	603.645	993.520
(c) Trade receivables	432.129	421.273	583.869
(d) Cash and bank balances	120.914	65.211	315.528
(e) Short-term loans and advances	136.890	137.965	3.536
(f) Other current assets	23.556	16.741	77.939
Total Current Assets	1692.587	1244.835	2109.563
TOTAL	3390.509	2844.012	4470.448

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Revenue from operations	9760.399	13762.389	13204.572
	Other Income	9.479	47.126	20.132
	TOTAL	9769.878	13809.515	13224.704
Less	EXPENSES
	Cost of Materials Consumed	7850.156	11107.896	10007.777
	Purchases of Stock-in-Trade	233.405	37.132	474.546
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(29.560)	(42.733)	131.789
	Employee benefit expense	271.051	295.278	300.133
	CSR expenditure	8.620	0.000	1.351
	Other expenses	979.890	1433.786	1643.628
	TOTAL	9313.562	12831.359	12559.224
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	456.316	978.156	665.480
Less	FINANCIAL EXPENSES	134.487	210.957	295.037
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	321.829	767.199	370.443
Less/ Add	DEPRECIATION/ AMORTISATION	128.708	147.069	157.504
	PROFIT/ (LOSS) BEFORE TAX	193.121	620.130	212.939
Less	TAX	45.877	138.724	60.014
	PROFIT/ (LOSS) AFTER TAX	147.244	481.406	152.925
	EARNINGS IN FOREIGN CURRENCY	185.014	212.682	154.536
	Earnings / (Loss) Per Share (INR)	3.07	10.03	3.19

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	137.742	197.947	327.744
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(113.766)	157.333	390.726
Net cash flow from operating activity	(154.828)	(16.166)	325.575

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	16.16	11.17	16.14
Account Receivables Turnover ( Income / Sundry Debtors)	22.59	32.67	22.62
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	11.04	3.71	10.47
Inventory Turnover (Operating Income / Inventories)	0.47	1.62	0.67
Asset Turnover (Operating Income / Net Fixed Assets)	0.29	0.66	0.35

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.62	0.63	0.69
Debt Equity Ratio (Total Liability / Networth)	1.29	1.25	1.54
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.95	0.94	1.18
Fixed Assets to Networth (Net Fixed Assets / Networth)	1.28	1.39	1.27
Interest Coverage Ratio (PBIT / Financial Charges)	3.39	4.64	2.26

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	%	1.51	3.50	1.16
Return on Total Assets ((PAT / Total Assets) * 100)	%	4.34	16.93	3.42
Return on Investment (ROI) ((PAT / Networth) * 100)	%	12.07	44.90	10.22

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.46	1.24	1.19
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.62	0.64	0.63
G-Score Ratio Financial (Networth / Total Assets)	0.36	0.38	0.33
G-Score Ratio Debt (Debts / Equity Capital)	32.72	27.83	4.81
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.46	1.24	1.19

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	480.000	48.000	48.000
Reserves & Surplus	1015.619	1024.270	1171.515
Net worth	1495.619	1072.270	1219.515
long-term borrowings	973.893	577.786	797.683
Short term borrowings	1005.097	560.322	635.069
Current Maturities of Long-Term Debts	327.744	197.947	137.742
Total borrowings	2306.734	1336.055	1570.494
Debt/Equity ratio	1.542	1.246	1.288

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	13204.572	13762.389	9760.399
		4.224	(29.079)

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	13204.572	13762.389	9760.399
Profit	152.925	481.406	147.244
	1.16 %	3.50 %	1.51 %

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	No
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

COMPANY’S AFFAIRS AND PERFORMANCE

As reported in the Directors Report of the Previous Year, the Manufacturing Divisions in Maharashtra i.e. Washi, Khopoli, Bhandgaon (Dal Plant), Taloja and Investment Division of the Company were demerged and merged with Parakh Foods and Oils Limited, as per the Order dated 26th February, 2016 of the Hon’ble High Court of Bombay. The appointed Date for the said Arrangement by way of Demerger was 1st January, 2016. Hence the Turnover of these demerged Units were not included in the Financial Results of the Company of FY 2015-2016, for the first three quarters i.e. upto 31st December, 2015.

However the Turnover of the Financial Year i.e. 2016-2017 did not include the Turnover of these demerged Units, and hence the Turnover of the Company during the Financial Year which was at INR 9769.878 Million is showing a decline as compared to the Turnover of INR 13809.515 Million of the previous Year. Hence the Financial Results of the Current Financial Year 2016-2017 are not strictly comparable with the Financial Results of the Previous Year 2015-2016.

FINANCIAL PERFORMANCE

During the year the Revenue from Operations of the Company was INR 9769.878 Million as against INR 13809.515 Million of the previous year. The export turnover of the Company during the year was INR 185.014 Million as against INR 212.682 Million of the previous year. The Company has earned the Profit before Tax, before Exceptional and Extra Ordinary Items of INR 193.121 Million as against the Profit of INR 620.130 Million of the previous year.

UNSECURED LOAN

PARTICULARS	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Loans and advances from related parties	66.785	0.470
Total	66.785	0.470

INDEX OF CHARGES

S No	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G43780428	100097214	HDFC BANK LIMITED	27/04/2017	-	-	2000000.0	HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL (WEST) MUMBAI MAHARASHTRA 400013 INDIA
2	G43134915	100095500	KOTAK MAHINDRA BANK LIMITED	13/04/2017	-	-	1095000000.0	27BKC, C 27, G BLOCK BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI MAHARASHTRA 400051 INDIA
3	G37921426	100082339	HDFC BANK LIMITED	31/01/2017	-	-	4000000.0	HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL (WEST) MUMBAI MAHARASHTRA 400013 INDIA
4	G12884227	100051948	HDFC BANK LIMITED	28/07/2016	-	-	2077000.0	HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL (WEST) MUMBAI MAHARASHTRA 400013 INDIA
5	G62465026	10626947	Bayerische Landesbank	23/02/2016	09/05/2017	-	109487650.0	Brienner Strasse, 18 Munich NA 80333 DE
6	C62880190	10588635	ICICI BANK LIMITED	10/08/2015	-	-	838958.0	LANDMARKRACE COURCE CIRCLE ALKAPURI BARODA GUJARAT 390015 INDIA
7	C58323437	10578783	ALLAHABAD BANK	13/06/2015	-	-	6800000.0	SEVA SADAN SOCIETY BUILDINGLAXMI ROAD, 613/14, SADASHIV PETH PUNE MAHARASHTRA 411030 INDIA
8	C41686288	10545630	CORPORATION BANK	30/12/2014	-	-	590000.0	PUNE CAMP BRANCH, ADITI COMMERCE CENTRE,H-2406, GENERAL THIMMAYYA ROAD, EAST STREET CAMP, PUNE MAHARASHTRA 411001 INDIA
9	G69096964	10297799	Corporation Bank	08/07/2011	15/11/2017	-	1040000000.0	H-2406, Aditi Commerce Centre,Gen. Thimmaya Road, East Street, Camp, PUNE MAHARASHTRA 411001 INDIA
10	G06055941	10121337	CORPORATION BANK & CONSORTIUM MEMBERS	30/07/2008	24/05/2011	24/06/2016	1170000000.0	ADITI COMMERCE CENTREGEN. THIMMAYYA ROAD CAMP PUNE MAHARASHTRA 411001 INDIA

FIXED ASSETS

• Land
• Buildings
• Factory building
• Plant and equipment
• Factory equipments
• Furniture and fixtures
• Office 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 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 67.38
UK Pound	1	INR 91.09
Euro	1	INR 79.75

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	NIS
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.