MIRA INFORM REPORT

Report Date :

14.02.2007

IDENTIFICATION DETAILS

Name :	GLOCHEM INDUSTRIES LIMITED
Registered Office :	Flat 120, Bhanu Enclave, Sundar Nagar, Near ESI Hospital, Hyderabad - 500 038, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2006
Date of Incorporation :	20.11.1995
Com. Reg. No.:	01-23303
CIN No.: [Company Identification No.]	U24110AP1995PLC022303
TAN No.: [Tax Deduction & Collection Account No.]	HYDG00852F
PAN No.: [Permanent Account No.]	AAACG9134E
Legal Form :	Closely Held Public Limited Liability Company
Line of Business :	Contract Manufacturing Of Centrizine Di Hydrochloride And Amlodopine Besylate In Small Volume

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	USD 700000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well-established and reputed company having satisfactory track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are reported as fair. General financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

LOCATIONS

Registered Office :	Flat 120, Bhanu Enclave, Sundar Nagar, Near ESI Hospital, Hyderabad - 500 038, Andhra Pradesh, India.
Tel. No.:	91-40-2371 3041 / 2370 5187
Fax No.:	91-40-2371 1483
E-Mail :	glochemindLimited@hotmail.com accounts@glochemindia.com glochem@hd2.dot.net.in pjagan123@rediffmail.com
Website :	http://www.glochemindia.com
Corporate Office :	GV Chambers, 7-2-C8 & C8/2, IDA  Sanath Nagar, Hyderabad - 500 018.INDIA.
Tel. No.:	91 - 40 - 23713041 / 42 / 43, 23816951
Fax No.:	91 - 40 23711483
E-Mail :	hyd2_glochem@sancharnet.in
Factory 1 :	174/176, I.D.A., Bollaram - 502 325, Medak District, Andhra Pradesh

DIRECTORS

Name :	Mr. Kattamuri Subbarao
Designation :	Chief Promoter & Managing Director
Address :	Plot No. 48, Navanirman Nagar, Road No. 71, Jubilee Hills, Hyderabad – 500034, Andhra Pradesh, India
Date of Birth/Age :	10.03.1953
Date of Appointment :	20.11.1995
Name :	Mr. S.H. Basha
Designation :	Director
Address :	H. No. 22-307/7A, Opposite KPHB, Bhagyanagar, Hyderabad – 500072, Andhra Pradesh, India
Date of Birth/Age :	26.03.1956
Date of Appointment :	24.05.1996
Name :	Mr. K. Sankara Rao
Designation :	Director
Address :	Railway Station Road, Piduguralla, Guntur – 522413, Andhra Pradesh, India
Date of Birth/Age :	11.06.1951
Date of Appointment :	29.09.1997
Name :	Mr. M R Vikram
Designation :	Director
Address :	80, Road No. 3, East Marredpally, Secunderabad – 500003, Andhra Pradesh, India
Date of Birth/Age :	18.05.1956
Date of Appointment :	24.03.1999
Name :	Mr. Mohan Krishna Reddy
Designation :	Director
Address :	No. 78, [New 123], Road No. 7A, Women Co-operative Society, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India
Date of Birth/Age :	03.05.1956
Date of Appointment :	24.12.2003
Name :	Mr. Axel Bernd
Designation :	Director
Address :	Dorfstrasse 17, CH-8166, Nieder Seningen, Pharmacist – 8166, GE
Date of Birth/Age :	15.02.1957
Date of Appointment :	29.06.2006
Name :	Mr. Mathias Josef
Designation :	Director
Address :	Mozartstrasse -9, DE-79664, Wehr, Deutsch – 79664, GE

KEY EXECUTIVES

Name :	Dr. N. G. Gokhale
Designation :	Director - Technical
Qualification :	M.Sc Ph D
Experience :	25 + Years
Name :	Ch. Ramesh
Designation :	General Manager - Works
Qualification :	Chemical Engineer
Experience :	20 years
Name :	C. Koteswara Rao
Designation :	General Manager - Purchase & Admin
Qualification :	Post Graduate in Materials Management and Administration
Experience :	22 years
Name :	T. Srinivas
Designation :	General Manager - Marketing
Qualification :
Experience :	15 years
Name :	M. Swamy
Designation :	Quality Control Manager
Experience :	15 + years
Name :	K.Lakshminarayana
Designation :	Manager Regulatory Affairs
Qualification :	Post Graduate in Organic chemistry
Experience :	5 + years
Name :	P. Krishna Kumari
Designation :	Manager - Finance & Accounts
Qualification :	Post Graduate in Commerce
Experience :	15 Years
Name :	S. R. Parthasarathy
Designation :	Consultant GMP
Qualification :	30 + Years

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
T. Adinarayana	17000
S. Azizunnisa Begum	38600
S H Basha	45000
Annapurna Pallerla	10000
K P Gopala Krishnan	50
K Hanumanth Rao	100
Hasan Firdous	82400
K. Kasiviswanadham	9800
P V Maha Lakshmi	10010
Madan Reddy	24900
K Parvathi	8610
M. Pushpavalli	100
R. V. Rajeev	5000
K Subbarao	924040
K. Subrahmanyam	20010
K Sankara Rao	9810
K Sushma	4250
K. Jyothi	25000
K Sandeep	2550
K Swarajya Lakshmi	50
L Sudhrani	50
B Sailaja	50
T. Suverchala Kumari	50
R Swetha	5000
T. Sridhar Kumar	3000
B. Sambasiva Rao	10000
K Seshagiri Rao	10000
K Saibabau	10000
M Srivani	19900
R Usha Kiran	5010
K Visalakshmi	50
Yousuf	20000
P Satyanarauana Reddy	11150
B. Lakshmi Kanthamma	4500
K. Chandrasekhar	5000
K Sushma	1000
S. Janki Devi	3000
K. Katyayani	2500
K. Seshagiri Rao	2500
M. R. Vikram	10000
A. Mohan Krishna Reddy	10000

BUSINESS DETAILS

Line of Business :

Contract Manufacturing Of Centrizine Di Hydrochloride And Amlodopine Besylate In Small Volume

Products :

Active Pharmaceutical Ingredients (APIs)

Drug Intermediates

OPC / OLED Chemicals

Fine Chemicals

Product Description	ITC Code No
Other Organic Compounds	2942
Amlodipinc Perylate	2942
Certrizine Dihel	2942
Raloxijene	2942

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production
Bulk Drugs and Intermediates	MT	100.00	93.883
Others		25.00	--
Spent Solvents		--	155.00

GENERAL INFORMATION

Suppliers :

Deepali Udyog

Godavari Plasto Containers Private Limited

Mody Chemicals Industries

Murthy’s Lab Glass Works

Senor Organics Private Limited

Shital Chemicals Industries

SLM Metal Private Limited

Super Olefins Private Limited

Urmi Polymer Industries

Customers :

Some of the reputed Indian Pharmaceutical Companies including –

Cipla	Ranbaxy	Glenmark
Pfizer	Dr. Reddys Labs	Unichem
Sun Pharma	Torrent	USV Limited
Micro Labs	Intas	Wockhardt
Merck	Cadila Pharma	Cadila Heath Care
Aristo	Macleods	Orchid

International

Partial list of countries where the company’s products are exported include -

Argentina	Germany	Paraguay
Bangladesh	Great Britain	Poland
Belgium	Greece	Portugal
Brazil	Hong Kong	Russia
Canada	Hungary	Saudi Arabia
Chile	Indonesia	Singapore
China	Iran	Slovania
Colombia	Israel	South Africa
Costa Rica	Italy	Switzerland
Czech Republic	Japan	Taiwan  (Republic of China)
Denmark	Jordan	Tunisia
Dominica	Korea (Democratic  People's Republic)	Turkey
Dominican Republic	Malaysia	United Kingdom
Egypt	Mexico	USA
Estonia	Morocco	Ukraine
Finland	Netherlands	Uruguay
France	Pakistan	Vietnam

No. of Employees :

120

Bankers :

Ø UTI Bank Limited, Begumpet, Hyderabad - 500 016, Andhra

Pradesh

Ø Punjab National Bank, Hitech City Branch, Andhra Pradesh

Facilities :

Secured Loan	Rs In Millions [31.03.2005]
Working Capital Loans form Banks [On the hypothecation of current assets and further secured by charge on fixed assets and guaranteed by two directors of the company]
Punjab National Bank [CC against Stocks]	5.058
Punjab National Bank [Cc against Book debts]	10.904
Punjab National Bank IBD	0.695
Punjab National Bank PCF C loan	6.320
UTI Bank Limited –CC against Stocks	2.273
UTI Bank Limited Term Loan	5.675
Total	30.925

Banking Relations :	Satisfactory
Auditors :	Deloittte Haskins and Sells Chartered Accountants Coramandel House, 1-2-10, SP Road, Secunderabad – 500003, Andhra Pradesh, India
Associates/Subsidiaries :	Mastana Constructions

CAPITAL STRUCTURE

As On 30.09.2006

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1713040	Equity Shares	Rs. 10/- each	Rs. 17.130 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2006	31.03.2005	31.03.2004
SHAREHOLDERS FUNDS
1] Share Capital		16.240	11.920	11.820
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		158.202	51.433	34.757
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		174.442	63.353	46.577
LOAN FUNDS
1] Secured Loans		36.648	30.926	15.736
2] Unsecured Loans		0.000	0.000	0.141
TOTAL BORROWING		36.648	30.926	15.877
DEFERRED TAX LIABILITIES		2.645	2.454	1.858
TOTAL		213.735	96.733	64.312
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		43.886	36.819	21.041
Capital work-in-progress		25.493	0.606	8.131
INVESTMENT		35.414	0.006	0.013
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	36.354	48.609	22.922
	Sundry Debtors	55.436	41.612	29.496
	Cash & Bank Balances	52.972	1.591	2.688
	Other Current Assets	0.425	0.057	0.075
	Loans & Advances	19.017	11.322	13.130
Total Current Assets		164.204	103.191	68.311
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	33.916	28.835	18.356
	Provisions	21.346	15.054	14.828
Total Current Liabilities		55.262	43.889	33.184
Net Current Assets		108.942	59.302	35.127
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		213.735	96.733	64.312

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2006	31.03.2005	31.03.2004
Sales Turnover [including other income]	259.924	161.221	161.943
Profit/(Loss) Before Tax	41.892	29.926	31.856
Provision for Taxation	--	11.196	11.210
Profit/(Loss) After Tax	41.892	18.730	20.646
Export Value	NA	58.983	32.939
Import Value	NA	27.406	20.745
Total Expenditure	218.032	131.294	130.087

KEY RATIOS

PARTICULARS		31.03.2006	31.03.2005	31.03.2004
PAT / Total Income	(%)	16.11	11.61	12.74
Net Profit Margin (PBT/Sales)	(%)	16.11	18.56	19.67
Return on Total Assets (PBT/Total Assets}	(%)	20.13	21.37	35.65
Return on Investment (ROI) (PBT/Networth)		0.24	0.47	0.68
Debt Equity Ratio (Total Liability/Networth)		0.52	1.18	1.05
Current Ratio (Current Asset/Current Liability)		2.97	2.35	2.05

LOCAL AGENCY FURTHER INFORMATION

Fixed Assets

• Land
• Building
• Plant and machinery
• Electrical Installation
• Computers
• Office Equipments
• Furniture and Fixture
• Vehicles

Contingent Liabilities not provided for in respect of

	2004-05	2003-04
Irrevocable letter of credit	1.892	2.572
Bank Guarantees	0.232	--

HISTORY:

The company was incorporated on 20^th November, 1995 at Hyderabad in Andhra Pradesh having Company Registration Number 23303.

Subject was primarily engaged as a trader of pharmaceuticals. It has now diversified into contract manufacturing of centrizine di hydrochloride and amlodopine besylate.

The company’s commercial operation started from 27^th November 1995.

The company is a Public Limited Company promoted by First Generation Technocrat Entrepreneurs.

Name of the company

GLOCHEM INDUSTRIES LIMITED

Presented By

Mr. K Subbarao, Managing Director

1) Date and description of instrument creating the change

Form No. K VI Agreement for hypothecation dated 06.08.1996

2) Amount secured by the charge/amount owing on the securities of charge

Inland Bank Guarantee Rs. 1.500 Millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation of stock procured under inland and Foreign Letter of Credit and under Bank Guarantees

4) Gist of the terms and conditions and extent and operation of the charge.

Inland / Foreign Letter of credit Margin 33.33 %

Hypothecation of stock purchased under LC and BG

5) Name and Address and description of the person entitled to the charge.

UTI Bank Limited, Begumpet, Hyderabad

6) Date and brief description of instrument modifying the charge

21.12.2005

• Letter of arrangement : Cash Credit advances
• General Undertaking for letters of credit
• Undertaking for Bills purchased / Discounting / Negotiated / Inland Foreign
• Agreement cum Indemnity for export credit
• Supplementary agreement of Hypothecation for Stocks, Book debts, Receivables, Movables etc.

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

The working capital limits sanctioned to the company by UTI Bank limited have been renewed with modification in the limits as follows ;

Rs In Millions

Nature of Facility	Original Limit	Enhanced / Existing Limits
Cash Credit [HYP]	5.000	10.000
EPC [Sub limit under CC]	[2.500]	[10.000]
Bill Discounting [Foreign Inland] [Sub limit under CC]	[2.500]	[10.000]
Letter of Credit [Inland / Foreign]	13.000	18.000
Forward contract limit	--	[10.000]
Total	18.000	28.000

The working capital limits of Rs. 28.000 Millions sanctioned to the company by UTI Bank Limited as descried above are secured as follows :

Cash credit Hypothecation Rs. 10.000 Millions

Margin :

Raw Materials, SIP, FG 25 %

Stores, Spares and Packing Materials 25 %

Book dents 40 %

Interest : PLR 2.00 i.e. 10.0 % p.a. at present at monthly rests

Primary security :

First charge on the entire current assets, past, present and future of the company ranking pari passy with Punjab National Bank.

Collateral Security

First charge on the entire unencumbered Fixed assets past present and future of the company, ranking pari passu with Punjab National Bank.

Personal guarantee of the managing director of the coampny Mr. K Subbarao.

Export Packing credit sub limit under cash credit Rs. 10.000 Millions

Interest : Upto 180 days BPLR 4 % i.e. 8 % p.a.

at present

beyong 180 days and upto 270 days BPLR 0.5 %, 4 % i.e. 12.50 % p.a. at present.

Margin 10 %

ECGC Cover the limit shall be brought under the whole turnover packing credit guarantees of ECGC the premium to be born by he company.

Inland Bill Discounting [Sub limit under cash credit] Rs. 10.000 Millions

Interest : BPLR 2 % i.e. 10.00 % p.a. at present payable upfront Handling charges

Handing Charges For bills up to Rs. 0.5 Millions

Primary Security

Charge on goods covered under bills purchased.

Forward contract limit Rs. 10.000 Millions

Margin : LER would be @ 2.50 % of the forward contract limit sanctioned to the company i.e. Rs. 0.250 Millions

Lien shall be marked in the unavailed portion of the extent of 2.50 % of the forward contracts booked.

Margin @ 10 % on the LER shall be maintained as and when the company book forward contract.

As per website

A Public Limited Company promoted by first generation Technocrat entrepreneur.

  In the Business of 

• Manufacturing & Marketing of
  -     APIs
  -     Drug Intermediates
  -     OPC / OLED & Fine Chemicals
• Custom Synthesis & Development of
  Intermediates
• Contract Manufacturing

Directors

Mr. K Subbarao
Chief Promoter & Managing Director

A Chartered Accountant with over 20 years of experience in Pharmaceutical Industry. 

Has held senior positions in Production, Purchase, Marketing and Finance.

Has experience of working in various organizational cultures·         

Public Sector (Bharat Petroleum Corporation Limited
Big Pharma Multinationals (Hoechest and Glaxo) and
Professionally managed medium scale Indian Companies 
(Lakshmi Porceleins Limited and SOL Pharmaceuticals Limited

Last position held prior to Glochem - 
Head – Bulk Drugs Division of a large Pharma Major.

Mr. M R Vikram
A leading Chartered Accountant and an active member of The Institute of Chartered Accountants of India.

Leading an audit team of 30 - in charge of large Audit Including

· Reserve Bank of India,

· Life Insurance Corporation of India,

· Electronic Corporation of India Limited, etc. 

Also Director on the Board

· Advanced Synergistic Microsystems Limited

· SDG Infosystems (P) Limited                                       

Mr. Mohan Krishna Reddy
Has over 30 years of executive experience, with 
reputed Organisations like

· ANZ Grindlays Bank,

· J. M. Morgan Stanley,

· Unit Trust of India and

· Indian Bank

· Infotech Enterprises Limited        in various Capacities

Currently the CEO of Applabs Limited 

Has played an active role in Industry associations like

· Madras Chamber of Commerce,

· Confederation of Indian Industry and

· Federation of Andhra Pradesh Chamber of Commerce and Industry - over the past decade

Mr. S.H. Basha
Managing Partner of M/s Mastana Constructions, one of the Leading Civil Contractors

Mr. K. Sankara Rao
An Industrialist heading the management of Rice Mills, Cotton Zinning Mills, Oil Mills, etc with an annual turnover of over Rs 200 Million.

Dr. Axel Muller

Highly qualified and experienced in the Development & Marketing of Generics business in companies such as Novartis & Aceto. His last position was Head - Generics Business. Siegfried Holding AG, Zofingen.
He is currently heading CIMEX as HEAD - BU Pharma (CIMEX Group) since Aug 2005.

Key Personnel

Mr K Subbarao Chief Promoter & Managing Director

Dr. N. G. Gokhale

Director - Technical
M.Sc Ph D

25 + Years of experience in the filed of Research in APIs and Fine Chemicals (including 8 years in Ciba-Geigy Research Centre).

Associated with GLOCHEM since 1997.

Ch. Ramesh
General Manager - Works
A Chemical Engineer with over 20 years of experience with reputed Pharmaceutical (API) manufacturing Companies.

With GLOCHEM since 1998

C. Koteswara Rao
General Manager - Purchase & Admin
A Post Graduate in Materials Management and Administration.
Over 22 years of experience in Puchase, General Administration, Project Management with medium size Chemical & Pharma Companies

T. Srinivas
General Manager - Marketing
A Graduate with over 15 years of experience in the Pharmaceutical Industry in the areas of Logistics, Commercial and Marketing

With GLOCHEM since 1997.

M. Swamy
Quality Control Manager
A Science Graduate & an approved Chemist by 

A.P. Drug Control Authority,

15 + years Pharmaceutical experience - in analytical departments. .

With GLOCHEM since Jan 2001

K.Lakshminarayana
Manager Regulatory Affairs

A Post Graduate in Organic chemistry

5 + years experience in the Quality Assurance dept of API Manufacturing units.

With GLOCHEM since 2002

P. Krishna Kumari
Manager -
Finance & Accounts
 A Post Graduate in Commerce with over 15 Years experience in Finance & Accounts with Pharma Companies.

With Glochem since 1999.

S. R. Parthasarathy
Consultant GMP
30 + Years. Experienced.

Consultant for 35 Companies
(API, Intermediates and Formulations Manufacturing units) for the last 9 years.
Associated with GLOCHEM since 2000.

Evolution of Glochem

1996
Begins as a Trading Company

1997
Manufacturing of Cetirizine Dihcl and some intermediates in the leased facilities

1998
Acquired an existing unit Manufacturing of Amlodipine Besilate started

1999
  Facilities upgraded

2000
A new intermediate Manufacturing Block.
More new products (including Raloxifene HCl)

2001
  Applied for COS for Amlodipine Besilate.

2002
  Received WHO GMP Certificate for the facilities
  R & D work for other salts of Amlodipine.

2003
Received  COS for Amlodipine Besilate
Filed the DMF for Amlodipine Maleate with several European Health Authorities
Applied for COS for Cetirizine DiHCl
Construction of new state-of-the-art Pharma Block
Addition of Clopidogrel Bisulphate to the Product Range.

2004
Product approvals / registrations received from several countries including Korea, Poland, Ukraine.
US FDA Compliant new Pharma Block Commissioned.
Research activity for new salts of Clopidogrel and
Clopidogrel Form 1.
A new state of the Art Research Centre
Received COS for Cetirizine Dihcl

2005
Developed patent non-infringing processes for the manufacture of Clopidogrel Salts .

New products developed in R & D - S + Ibuprofen,
and Candesartan

Research activity starts for Carbidopa and Levo Cetrizine.

Strategic Association with Cimex , Switzerland - Agreement signed in July 2005.
Cimex picks up 20% stake in Glochem

New cGMP / USFDA compliant facilities coming up at Pharma City, Visakapatnam.

Registration activity started for Amlodipine Besilate, Cetrizine Di Hcl and Clopidogrel Bisulphate in Russia, Ukraine, South Africa etc.,

2006

DMFs filed with USFDA for Certirizine Di Hel and Amlodpine Besilate 

Products Developed - Carbidopa 

DMFs filing in progress for Clopidogrel Besilate, Carbidopa and S + Ibuprofen 

Moved to own newly built  Corporate Office.

Strengths

· High Quality Product

· Characterised & synthesized all pharmacopoeial impurities

· Synthesised all possible process impurities and proved the absence / presence in the product

· Comprehensive CTD

· COS for Amlodipine Besilate / Cetirizine DiHCl received.

· Has a market share of over 70% in India for Amlodipine Besilate

· The biggest manufactures of Amlodipine salts in India

· CTD / DMF filed with various Health Authorities for Amlodipine Maleate and the DMF is approved by Health Authorities in Sweden, Norway, Denmark, Netherlands, Spain, Portugal, Belgium, Greece, Italy, Finland, Luxembourg, Austria, UK, Germany and Switzerland.

· Lowest employee turnover: They take pride in the fact that they have lowest turnover amongst our senior management personnel. This has enabled continuity and had made development easier and quicker.

· Fast and quick in Project execution - New Pharma block – Conceived in Oct 2003. Commenced by end Nov 2003 – Completed by end April 2004.

Active Pharmaceutical Ingredients (APIs)
S.No.	Name of the API	Therapeutic Use	Regulatory Status
1	Amlodipine Besilate EP / BP	Anti -hypertensive	CoS obtained from EDQM USDMF filed (No.19591)
2	Amlodipine Maleate	Anti-hypertensive	EDMF approved in EU countries
3	S(-)Amlodipine Besilate	Anti-hypertensive	DMF available in CTD format
4	Cetirizine Di Hcl EP / BP	Anti-allergic/ Anti-histamine	CoS obtained from EDQM USDMF filed (No.19273)
5	Raloxifene Hcl	Anti-osteoporosis	DMF available in CTD format
6	Clopidogrel Bisulphate USP (form II)	Anti-thrombotic	DMF available in CTD format
7	Clopidogrel Besylate		DMF available in CTD format
8	S(+) Ibuprofen	Anti-inflammatory	Technical package available.
9	Carbidopa	Anti-parkinsons	Technical package available.
10	Candesartan	Anti-hypertensive	Technical package available.
Under Development
S.No.	Name of the API	Therapeutic Use	Regulatory Status
1	Nebivolol	Anti-hypertensive
2	Cabergoline	Anti-neoplastic /
N.B.: These products are not offered in countries where valid patents exsist. However the final responsibility with respect to third party patent rights in a specific country lies exclusively with the user.

DRUG INTERMEDIATES
S.No.	Drug Intermediates	For API
1	► Phthalimido Ethanol	Amlodipine Besilate
	► Ethyl 4(2-Phthalimido Ethoxy)Acetoacetate
	► Phthaloyl Amlodipine
	► Amlodipine Base
2	► 4-Chlorobenzhydrylchloride	Cetirizine Di HCL
	► 4-Chlorobenzhydrylpiperazine (or)
	....(1-[(4-Chloro Phenyl)Phenyl Methyl] piperazine)
3	► 3-Methoxy benzenethiol	Raloxifene HCL
	► S-(4 methoxy phenyl) acetyl 3-methoxy benzenethiol
	► 2(4-methoxy phenyl)6-methoxy benzo(b)thiophene
	► 4-[2-(1-piperdinyl)ethoxy]benzoic acid HCl
4	► 4,5,6,7-Tetrahydrothieno-(3,2-c)pyridine HCl	Clopidogrel Bisulphate USP (Form II)
	► 4,5,6,7-Tetrahydrothieno-(3,2-c) pyridine Base
	► R S Clopidogrel Bisulphate
	► R,S Clopidogrel Base
	► S (+) Camphor Sulphonate Salt
	► S(+) Clopidogrel Base
5	► Cis-Bromo Benzoate
	► N-Acetyl-1(4-Hydroxy Phenyl) Piperazine	Itraconazole Ketoconazole
	► Cis - Tosylate
6	► Methyl 2-[(ter-Butoxycarbonyl) amino] 3-nitro benzoate	Candesartan
	► Methyl 2-[N-ter-Butoxycarbonyl)-N-{2'-cyano
	....biphenyl-4-yl) methyl] amino]3-nitrobenzoate
	► Methyl 1-[(2'-cyanobiphenyl-4-yl)methyl]
	....-2- Ethoxy-1 H-benzimidazole-7- carboxylate.
	► 2-Ethoxy-1[[2'-(1H-Tetrazole-5-yl) biphenyl - 4-yl]
	....methyl]-1H-benzimidazole-7-carboxylic acid (candesartan)

OPC / OLED CHEMICALS
Glochem's Code	Name of the product	C A S Numbers	Synonyms / Alternative names
SPC - 01	3- METHYL DIPHENYL AMINE	1205-64-7	N-Phenyl, m-toluidine
			N- phenyl - N - (3 - methyl phenyl ) amine
			3 - Benzamino toluene
			N - phenyl - N - m- tolylamine
			N- 3(methyl phenyl) aniline
SPC - 06	TRIPHENYLAMINE	603-34-9	Diphenyl benzamine
			Diphenyl aniline
SPC - 07	4- METHYL DIPHENYLAMINE.	620-84-8	N- Phenyl, p- Toluidine.
			N - phenyl - N - 4 - methyl phenyl amine
			N - phenyl - N - p - tolylamine
			4 - benzamino toluene
			N-4(methyl phenyl) aniline.
SPC - 08	3- METHOXY DIPHENYL AMINE	101-16-6	m- Methoxy diphenyl amine
			N - phenyl - m - anisidine
			N - phenyl - N - (3 - methoxy phenyl ) amine
			1 - benzamino - 3 - methoxy benzene
			N- 3(methoxy phenyl) aniline.
SPC - 09	4,4' - DIMETHYL DIPHENYLAMINE	620-93-9	Di - p - tolylamine.
			Bis - ( 4 - methyl benzene ) amine
			N , N - Di - p- tolylamine
			Bis (4-methyl phenyl)amine
SPC - 10	4-IODOTOLUENE	624-31-7	p-Iodotoluene
			p - Iodomethyl methyl benzene
			p - Tolyl Iodide
SPC - 11	4,4' - DIMETHYL TRIPHENYLAMINE	20940-95-3	N - phenyl - N , N - Bis (4 - methyl phenyl ) amine
			N,N - Bis (4-methyl phenyl) aniline.
SPC - 12	TRIS (4-METHYL PHENYL) AMINE	1159-53-1	4,4',4" - Trimethyl triphenylamine
			Tri - p - tolylamine
			Tris - (4 - methyl benzene ) amine
SPC - 15	4 (2,2-BIS PHENYL ETHEN-1-YL) 4,4'-DIMETHYL TRIPHENYLAMINE		STILBENE - I (or) N - [4 - (2 , 2 - Diphenyl ethen - 1 - yl ) phenyl ] - N , N - Di - p - tolyl amine
SPC - 16	4,4' - BIS (3-METHYL PHENYL) -4,4' - BIS (PHENYL) -BENZIDINE	65181-78-4	TPD
SPC - 17	TPD - MIXTURE
SPC - 20	4,4' - DIMETHYL, 4" - FORMYL TRIPHENYLAMINE.	42906-19-4	N,N - Bis (4-methyl phenyl)amino benzaldehyde. N , N - Bis ( p - tolyl ) - p - amino benzaldehyde
SPC - 21	4- FORMYLTRIPHENYLAMINE.	4181-05-9	4(N,N - Diphenyl amine) benzaldehyde (or) N , N - Diphenyl - p- amino benzaldehyde
SPC - 22	3,3' - DIMETHYL DIPHENYLAMINE		Di - m - Tolylamine
			N, N - Bis - (3 - methyl phenyl ) amine
			N, N - Bis (m - tolyl) amine
			Bis-[(3- methyl) phenyl] amine.
SPC - 23	TRIS(4-IODOPHENYL)AMINE		Tris(p-Iodophenyl)amine
			N,N,N - Tris ( 4 - Iodo benzene ) amine
			4,4,4" Tri Iodo Triphenyl Amine
SPC - 26	4,4',4" - TRIS-N (PHENYL-ALPHA-NAPHTHYL AMINE) TRIPHENYL AMINE		4,4',4" - Tris-N(1-naphthyl)N-phenyl amino) triphenyl amine
SPC - 28	(4-DIETHYL AMINO) BENZALDEHYDE-1,1-DIPHENYL HYDRAZONE		(P-Diethyl amino) benzaldehyde-N,N-Diphenyl hydrazone.
SPC - 31	4-(2,2-BISPHENYL-ETHENE -1-YL) TRI PHENYL AMINE		STILBENE - II
SPC - 24	4,4',4" - TRIS -N (PHENYL-BETA-NAPHTHYLAMINE) TRIPHENYL AMINE		4,4',4" -Tris-N-(2-napthyl)N-Phenylamino) Triphenyl amine
			4,4',4" - TTA
Under Development
Glochem's Code	Name of the product		Synonyms / Alternative names
SPC - 30	DIPHENYL KETIMINE	1013-88-3	Diphenyl Methyl enimine
SPC - 27	4,4',4" - TRIS-(N-3-METHYL PHENYL-N-PHENYL AMINO) TRIPHENYL AMINE	124729-98-2	4,4',4" - Tris [N-(m-tolyl)N-phenyl amino] Triphenyl amine.

FINE CHEMICALS
Glochem's Code	Name of the product	C A S Numbers	Synonyms / Alternative names
SPC - 02	2,6 - DIMETHYL ACETANILIDE	2198-53-0	n-acetyl,2,6- Xylidine
			N- acetyl - N - (2, 6 - Dimethyl phenyl ) amine
SPC - 03	4- HYDROXY BENZONITRILE.	767-00-0	p-Hydroxy benzonitrile
			4-Cyanophenol.
			1- Cyano - 4 - Hydroxy benzene
SPC - 04	4- HYDROXY, 3- NITRO BENZONITRILE	3272-08-0	p- Hydroxy, m-Nitrobenzonitrile.
			1 - Cyano - 3 - nitro - 4 - Hydroxy benzene
			4 - Cyano - 2 - nitrophenol
SPC - 05	1,2 - DIPHENYL ETHANONE.	451-40-1	Benzyl phenyl Ketone
			alpha - phenyl acetophenone
SPC - 13	N - PHENYL GLYCINE	103-01-5	Anilino acetic acid
			N - phenyl amino acetic acid
SPC - 14	2-PHENOXY ETHYL CHLORIDE	622-86-6	2-Chloro ethyl phenyl ether.
			b - chloro phenetole
SPC - 19	2-CYCLOPHENTYL PHENOL	1518-84-9	o-Cyclophentyl phenol.
SPC - 25	PARA IODOANISOLE	696-62-8	4 - Iodo methoxy benzene
			4 - Methoxy Phenyl Iodide
			4-Iodoanisole
SPC - 29	L-PROLINAMIDE	7531-52-4

Managing Director	md@glochemindia.com
General Manager Works	glochem@sancharnet.in glochemindLimited@yahoo.com
Marketing	marketing@glochemindia.com
Purchase	purchase@glochemindia.com
Accounts	accounts@glochemindia.com
Regulatory Affairs	ra@glochemindia.com
Quality Control	glochem@sancharnet.in
Research Centre	rd@glochemindia.com
Projects Dept.	projects@glochemindia.com

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	Indian Rupees
US Dollar	1	Rs.11.09
UK Pound	1	Rs.86.59
Euro	1	Rs.57.92

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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