MIRA INFORM REPORT

Report Date :

18.04.2012

IDENTIFICATION DETAILS

Name :	FERMENTA BIOTECH LIMITED (w.e.f. 10.05.2000)
Formerly Known As :	FERMENTAPHARMA BIODIL LIMITED
Registered Office :	DIL Complex, Ghodbunder Road, Majiwada, Thane(W)-400 610, Thane Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.07.1986
Com. Reg. No.:	11-134021
Capital Investment / Paid-up Capital :	Rs.177.045 Millions
CIN No.: [Company Identification No.]	U99999MH1986PLC134021
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing of Formulations, Drug, Intermediates and Biocatalyst
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 2300000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well – established and a reputed company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Dilip
Designation :	Manager
Contact No.:	91-9930128326 (Mr. Dilip)
Date :	10.04.2012

LOCATIONS

Registered Office:	DIL Complex, Ghodbunder Road, Majiwada, Thane (West) -400 610, Maharashtra, India
Tel. No.:	91-22-67980888
Mobile No.:	91-9930128326 (Mr. Dilip)
Fax No.:	91-22-67980999/67980899?
E-Mail :	Dilip.peswani@fermentabiotech.com fermenta@fermentabiotech.com
Website :	www.fermentabiotech.com
Location:	Owned
Factory 1 :	Village Takoli, P. O. Nagwain, District Mandi, Himachal Pradesh – 175 121, India
Tel. No.:	91-1905-287246
Fax No.:	91-1905-287250
E-mail:	fblmandi@fermentabiotech.com
Factory 2 :	Dahej, Gujarat

DIRECTORS

As on 27.09.2011

Name :

Mr. Satish Varma Azad Nadimpally

Designation :

Director

Address :

Flat No. 1104, Quiscent Heights, Mindspace Link Road, Malad(W), Mumbai - 400 064, Maharashtra, India

Qualification:

Computer Science

Date of Birth/Age :

21.03.1970

Date of Appointment :

04.10.2004

DIN :

00003255

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L99999MH1951PLC008485	DIL LIMITED	Director	30-04-10	01-07-03	-	Active	NO
2	U67120MH2003PTC141695	DVK INVESTMENTS PRIVATE LIMITED	Director	11-08-03	11-08-03	-	Active	NO
3	U45200MH1995PLC084766	AEGEAN PROPERTIES LIMITED	Director	01-09-03	01-09-03	-	Active	NO
4	U74130MH2004PTC145141	EVOTEC (INDIA) PRIVATE LIMITED	Director	17-03-04	17-03-04	31-08-09	Active	NO
5	U92100MH2004PLC145627	WHITE STRIPES ENTERTAINMENT LIMITED	Director	12-04-04	12-04-04	-	Amalgamated	NO
6	U24230MH2004PTC148220	G I BIOTECH PRIVATE LIMITED	Director	25-08-04	25-08-04	-	Active	NO
7	U99999MH1986PLC134021	FERMENTA BIOTECH LIMITED	Managing director	01-05-10	04-10-04	-	Active	NO
8	U55101MH2005PTC152711	VM CAFE DE ART PRIVATE LIMITED	Director	02-08-05	02-08-05	-	Active	NO
9	U93000MH2011PLC212089	CC Square Films Limited	Director	10-01-11	10-01-11	-	Active	NO

Name :

Mr. Krishna Vasant Datla

Designation :

Director

Address :

42 – B, Dhanaajay JVPD Presidency CHS., 8 North South Road, Juhu, Mumbai 400 049, Maharashtra, India

Date of Birth/Age :

17.12.1980

Date of Appointment :

01.02.2002

DIN :

00003247

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1986PLC134021	FERMENTA BIOTECH LIMITED	Director	01-02-02	01-02-02	-	Active	NO
2	L99999MH1951PLC008485	DIL LIMITED	Managing director	09-05-10	29-01-05	-	Active	NO
3	U55101MH2005PTC152711	VM CAFE DE ART PRIVATE LIMITED	Director	02-05-05	02-05-05	-	Active	NO
4	U74130MH2004PTC145141	EVOTEC (INDIA) PRIVATE LIMITED	Director	09-05-05	09-05-05	05-10-11	Active	NO
5	U45200MH1995PLC084766	AEGEAN PROPERTIES LIMITED	Director	09-05-05	09-05-05	-	Active	NO
6	U67120MH2003PTC141695	DVK INVESTMENTS PRIVATE LIMITED	Director	09-05-05	09-05-05	-	Active	NO
7	U24230MH2004PTC148220	G I BIOTECH PRIVATE LIMITED	Director	27-10-05	27-10-05	-	Active	NO
8	U92100MH2004PLC145627	WHITE STRIPES ENTERTAINMENT LIMITED	Director	01-02-06	01-02-06	-	Amalgamated	NO
9	U85100MH2007FLC175165	Evotec-RSIL Limited	Director	18-10-07	18-10-07	-	Amalgamated	NO
10	U85100KA2008PTC047190	Health and Wellness India Private Limited	Additional director	13-12-10	13-12-10	28-03-11	Active	NO
11	U93000MH2011PLC212089	CC Square Films Limited	Director	10-01-11	10-01-11	-	Active	NO
12	U55204MH2011PTC222081	Magnolia FNB Private Limited	Director	16-09-11	16-09-11	-	Active	NO

Name :

Mr. Sanjay Ramakant Buch

Designation :

Director

Address :

31/7, Sona CHS., K.C.Marg, Bandra Reclamations, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

26.09.1968

Date of Appointment :

22.01.2010

DIN :

00391436

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24246AP1989PTC010416	SS ORAL HYGIENE PRODUCTS PRIVATE LIMITED	Director	03-12-99	03-12-99	-	Amalgamated	NO
2	L99999MH1951PLC008485	DIL LIMITED	Director	14-09-07	28-04-07	-	Active	NO
3	U99999MH1993PTC074256	AGFA INDIA PRIVATE LIMITED	Director	27-11-08	07-04-08	18-01-10	Amalgamated	NO
4	U72900MH2008FTC186575	Emhart Teknologies (India) Private Limited	Director	09-09-08	09-09-08	16-09-10	Active	NO
5	U31409KA2008FTC047837	Black & Decker India Private Limited	Director	23-09-08	23-09-08	18-01-10	Active	NO
6	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director appointed in casual vacancy	11-08-09	11-08-09	-	Active	NO
7	U63090MH1983PTC161369	TRANSWAYS COMBINES PRIVATE LIMITED (TRF.)	Additional director	29-08-09	29-08-09	30-09-09	Active	NO
8	U99999MH1986PLC134021	FERMENTA BIOTECH LIMITED	Director	27-09-10	22-01-10	-	Active	NO
9	U93000MH2010FTC211208	SEALCOM INDIA PRIVATE LIMITED	Director	22-12-10	22-12-10	-	Active	NO

Name :

Mr. Rajendra Balkrishna Gajtonde

Designation :

Whole Time Director

Address :

505 Santoor Society, Lokpuram, Thane (West) - 400 610, Maharashtra, India

Date of Birth/Age :

01.06.1962

Date of Appointment :

04.10.2004

DIN :

00003269

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1986PLC134021	FERMENTA BIOTECH LIMITED	Whole-time director	04-10-10	04-10-04	-	Active	NO

Name :

Mrs. Anupama Vasantkumar Datla

Designation :

Whole Time Director

Address :

A/802, Aditya Samarth, Ramdas Marg, Juhu Scheme, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

12.06.1978

Qualification :

Post Graduate in Biotechnology

Science Graduate from The Boston College

Date of Appointment :

29.03.2007

DIN :

00217027

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1996PTC103910	LACTO COSMETICS (VAPI) PRIVATE LIMITED	Director	01-11-03	01-11-03	-	Active	NO
2	U24239MH1976PTC103955	DUPEN LABORATORIES PRIVATE LIMITED	Director	15-12-04	15-12-04	-	Active	NO
3	U99999MH1986PLC134021	FERMENTA BIOTECH LIMITED	Whole-time director	01-04-12	29-03-07	-	Active	NO

Name :

Mr. Peter John Bains

Designation :

Chairman

Address :

Hutchins Barn, Forty Green Road, Knotty Green, HP9IXL, Beaconsfield, United Kingdom - 76152

Date of Birth/Age :

26.07.1957

Date of Appointment :

19.03.2010

DIN :

00430937

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L24239MH1924PLC001151	GLAXOSMITHKLINE PHARMACEUTICALS LIMITED	Director	26-07-05	26-07-05	27-07-09	Active	NO
2	U51909KA1993PLC014937	SYNGENE INTERNATIONAL LIMITED	Director	22-07-10	20-01-10	-	Active	NO
3	U99999MH1986PLC134021	FERMENTA BIOTECH LIMITED	Director	27-09-10	19-03-10	-	Active	NO

Name :

Mr. Viswanath Venkata Subrahmanya anjaneya Chibrolu

Designation :

Director

Address :

Flat No. 302, Chaitanya Estates, Moti Nagar, X Road, Hyderabad – 500018, Andhra Pradesh, India

Date of Birth/Age :

12.08.1969

Date of Appointment :

17.01.2011

DIN :

01556254

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74140AP2006PTC050912	INVASCENT ADVISORY SERVICES INDIA PRIVATE LIMITED	Director	13-07-07	13-07-07	-	Active	NO
2	U24236KA1995PTC019479	EASYSTICH NEEDLES PRIVATE LIMITED	Additional director	24-08-09	24-08-09	-	Amalgamated	NO
3	U03311KA1992PTC013831	SUTURES INDIA PRIVATE LIMITED	Director	25-08-10	26-08-09	-	Active	NO
4	U99999MH1986PLC134021	FERMENTA BIOTECH LIMITED	Director	17-01-11	17-01-11	-	Active	NO

Name :

Mr. Tiruneveli Padmanabhan Devarajan

Designation :

Director

Address :

10.03.152 (New No 38 ST No 2) East, Marredpally, Secunderabad – 500026, Andhra Pradesh, India

Date of Birth/Age :

28.03.1964

Date of Appointment :

14.03.2001

DIN :

03473633

KEY EXECUTIVES

Name :	Mr. Ranabir Sanyal
Designation :	Secretary
Address :	B-605, Laxmi Narayan Complex, Sector 12A, Koparkhairane, Navi Mumbai – 400709, India
Date of Birth/Age :	25.09.1984
Date of Appointment :	01.10.2009

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2011

Names of Shareholders	No. of Shares
Dr. V. K. Datla	12
Mr. D. G. Rajan	12
Mr. O. Swaminatha Reddy	12
DIL Limited, Thane	12762464
V. R. Investment and Finance Private Limited, Hyderabad	15000
Mrs. D. Rajeshwari	85338
Mr. Govind Desai and Mr. Gunanath Govind Desai	2500
Mr. Govind Desai and Mr. Damodar Govind Desai	1000
Mrs. Shaila G. Desai and Mr. Damodar Govind Desai	1500
Mr. S. Krishnan	10
Mr. S C Uniyal	10
Ms. Preeti Thakkar	3012
Dupen Laboratories P Limited, Santacruz	100000
Mr. Kumar Subrmanian	10
Mr. S Raman	10
Mr. Prashant Kutty	20
DVK Investments Private Limited,Thane	87024
Mr. K H Kashid	10
Mr. Krishna Datla Jtly Mr. Rajeshwari Datla	27000
Mr. Satish Varma	10
Mr. Irfan Bandukwala	789474
Allegro Corporate Financial Advisors Private Limited	488334
Mr. Srikant Sharma	10
Evolvence India Life Science Fund LLC	3830072
Total	18192844

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	21.05
Bodies corporate	78.29
Directors or relatives of Directors	0.63
Other top fifty shareholders	0.03
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Formulations, Drug, Intermediates and Biocatalyst

Products :

ITC Code	Product Description
30029000	Plnicillin G Amidas Biocaialysi
293331	Phenyramidol HCL
293629.13	Vitamin D3

.Exports :

Products :

Formulations, Drug, Intermediates and Biocatalyst

Countries :

North America, Middle East, South America, Korea, South east Asia

Imports :

Products :

Raw Material

Countries :

Europe

Terms :

Selling :

L/C Cash and Credit

Purchasing :

L/C Cash and Credit

PRODUCTION STATUS (31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Biocatalyst and enzymes	Kgs	7000	25,429
Formulations tablets and lozenges	Blister Packs ‘000’	----	1,493
Bulk Drugs	Kgs	101,900	129,410

Note: (a) Licensed capacity is not indicated as industrial licensing for all bulk drugs, intermediate and their formulations stands abolished in terms of Press Note No.4 (1994 Series) dated 25th October, 1994 issued by the Department of Industrial Development, Ministry of Industry, and Government of India.

(b) * Installed capacity (201 0-201 1 and 2009-2010) has been certified by the Vice President Manufacturing and accepted by the auditors without verification, this being a technical matter. .

(c) ** Closing stock quantities exclude stocks written off (i) ~iocatalis-t 442 Kgs (2010 - 795 Kgs), and (ii) Bulk Drugs - 3170 Kgs (2010 - 120 Kgs).

(d) *** Sales quantity includes: Free supllies of (i) 3,170Kgs of Bulk Drug (2010 - 2,253 Kgs); and (ii) 25 Kgs of Biocatalyst (2010 - 60 Kgs)

(e) ****Production includes quantity manufactured by loan licensee. Biocatalyst and Enzymes - 21445 Kgs (2010 - 8200 Kgs),

Formulations Tablets and Lozenges - 1493 Blister Packs '000 (2010 - Nil) Bulk Drug - 47550 Kgs (2010 - Nil)

20 Prior year amounts have been reclassified where necessary to confirm with current year's presentation.

GENERAL INFORMATION

Customers :

· Wholesalers and Retailers

· Supreme Dharma cauticals Private Limited Customers

No. of Employees :

500 (Approximately)

Bankers :

Union Bank Of India, Ghodbunder Road Branch, Solitaire Tower, Manpada, Ghodbunder Road, Thane – 400607, Maharashtra, India

(Rs. In Millions)

Facilities :

Secured Loan	As on 31.03.2011	As on 31.03.2010
Secured loans
(A) Working capital loans banks secured	15.594	29.934
(B) Loans taken for vehicles secured	6.634	2.919
(C) Loans taken for other fixed assets secured	121.106	59.967
(D) Other debt secured	40.000	40.000
Total	183.334	132.820
Note: (A) Cash Credit Secured by way of hypothecation of the Company's entire stocks of raw materials, semi-finished and finished goods, consumable stores and spares and such other moveable including book-debts, bills, whether documentary or clean, outstanding monies, receivables, and also by way of first charge on all of the Company's fixed assets both present and future. (B) (Repayable within a year Rs.2.419 Millions (2010-Rs.1.776 Millions) (C) Secured by way of first charge on fixed assets procured with financial assistance of the term loan and by equitable mortgage of factory land and building at Kullu. (Repayable within a year Rs.24.023 Millions (2010-Rs.21.282 Millions), The following amount has been obtained by adding two components. 1)Secured by way of first charge on fixed assets procured with financial assistance of the term loan and by equitable mortgage of factory land and building at Kullu. (Repayable within a year Rs.24.023 Millions (2010-Rs.21.282 Millions).Current Year amount is 47.206 Millions (P.Y-59.967 Millions) 2)Secured by way of first charge on fixed assets procured with financial assistance of the term loan and by equitable Mortgage of factory land and building at Dahej pending execution. (Repayable within a year Rs.12.500 Millions (2010-Rs.NIL).Current Year figure is 7.900 Millions and is NIL for the previous year. (D) Packing Credit Secured by way of hypothecation of the Company's entire stocks of raw materials, semi-finished, and finished goods, consumable stores and spares and such other moveable including book-debts, bills, whether documentary or clean, outstanding monies, receivables, and also by way of first charge on all of the Company's fixed assets both present and future.
Secured Loan	As on 31.03.2011	As on 31.03.2010
Unsecured loans [abstract]
(A) Other debt unsecured	15.987	30.000
Total	15.987	30.000
Note: (A) Short term loan from Holding company (includes interest accrued Rs.2.360 Millions (2010-Rs.NIL)

Banking Relations :	--
Auditors :
Name :	S.R. Batliboi and Associates Chartered Accountant
Address :	14^th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India
PAN.:	AABFS3421N
Associates/Subsidiaries :	G I Biotech Private Limited, India U24230MH2004PTC148220
Fellow Subsidiary Company:	Evotec (India) Private Limited, India

CAPITAL STRUCTURE

As on 27.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
19010000	Equity Shares	Rs.10/- each	Rs.190.100 Millions
990000	Preference Shares	Rs.10/- each	Rs.9.900 Millions
Total			Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18192844	Equity Shares	Rs.10/- each	Rs. 181.928 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
19010000	Equity Shares	Rs.10/- each	Rs.190.100 Millions
990000	Preference Shares	Rs.10/- each	Rs.9.900 Millions
Total			Rs. 200.000 Millions

Issued, Subscribed

No. of Shares	Type	Value	Amount
18192844	Equity Shares	Rs.10/- each	Rs. 181.928 Millions

Paid-up Capital :

No. of Shares	Type	Value	Amount
17704510	Equity Shares	Rs.10/- each	Rs. 177.045 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		177.045	87.000	87.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		410.033	207.932	166.059
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		587.078	294.932	253.059
LOAN FUNDS
1] Secured Loans		183.334	132.820	142.457
2] Unsecured Loans		15.987	30.000	0.000
TOTAL BORROWING		199.321	162.820	142.457
DEFERRED TAX LIABILITIES		0.882	0.000	0.000
TOTAL		787.281	457.752	395.516
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		288.244	208.866	192.504
Capital work-in-progress		185.000	56.850	7.696
INVESTMENT		18.662	18.662	18.662
DEFERREX TAX ASSETS		0.000	3.275	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	104.537	71.463	74.654
	Sundry Debtors	155.922	112.367	108.523
	Cash & Bank Balances	103.819	31.928	26.022
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	38.950	26.697	34.029
Total Current Assets		403.228	242.455	243.228
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	77.562	38.394	34.599
	Other Current Liabilities	5.903	19.672	21.578
	Provisions	24.388	14.290	10.397
Total Current Liabilities		107.853	72.356	66.574
Net Current Assets		295.375	170.099	176.654
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		787.281	457.752	395.516

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	642.947	480.157	351.080
		Other Income	12.795	2.987	19.971
		TOTAL (A)	655.742	483.144	371.051
Less	EXPENSES
		Purchase of Trading Goods		9.367	0.000
		Material Consumed		134.266	89.818
		Increase/Decrease in inventories		(1.916)	16.952
		Manufacturing Expenses		63.197	51.676
		Personnel Expenses		68.511	58.624
		Selling and Distribution Expenses		37.002	27.615
		Administration and other expenses		87.691	74.510
		TOTAL (B)	217.885	398.118	319.195
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		437.857	85.026	51.856
Less	FINANCIAL EXPENSES (D)		17.095	14.412	15.765
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		420.762	70.614	36.091
Less/ Add	DEPRECIATION/ AMORTISATION (F)		297.199	23.125	17.062
	PROFIT BEFORE TAX (E-F) (G)		123.563	47.489	19.029
Less	TAX (I)		29.108	5.616	2.942
	PROFIT AFTER TAX (G-I) (J)		94.455	41.873	16.087
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		132.362	90.489	74.402
Less	TRANSFERRED TO CAPITAL REDEMPTION RESERVE		7.000	0.000	0.000
	BALANCE CARRIED TO THE B/S		219.817	132.362	90.489
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export		341.423	224.761
		Freight and insurance on exports		7.519	6.199
		Other Earnings		0.000	7.060
	TOTAL EARNINGS		NA	348.942	238.02
	IMPORTS
		Raw Materials		57.359	40.817
		Stores & Spares		0.000	0.048
		Capital Goods	NA	5.165	3.435
	TOTAL IMPORTS			62.524	44.300
	Earnings Per Share (Rs.)		5.19	5.23	2.01

Sales Turnover (2011-2012) : Rs. 1000.000 Millions (Due to More Orders and Increase Facility )

Expected Sales (2012-2013 ) : Rs. 1250.000 Millions

The above information has been parted by Mr. Dilip - Manager

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	14.40	8.67	4.19
Net Profit Margin (PBT/Sales)	(%)	19.21	9.89	5.23
Return on Total Assets (PBT/Total Assets}	(%)	30.64	10.52	4.12
Return on Investment (ROI) (PBT/Networth)		0.21	0.16	0.08
Debt Equity Ratio (Total Liability/Networth)		0.18	0.80	0.83
Current Ratio (Current Asset/Current Liability)		3.73	3.35	3.65

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	Yes
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

RESULT FROM OPERATIONS

In 2010-11, the revenue generated stood at Rs. 655.742 Millions as against Rs. 483.144 Millions in the previous year. Profit before tax was Rs.123.563 Millions (previous year Rs.47.489 Millions) and the profit after tax was Rs. 94.455 Millions (Previous year Rs. 41.873 Millions)

Trade Reference:-

· Supreme Dharma cauticals Private Limited Customers

Corporate identity number of the company	U99999MH1986PLC134021
Name of the company	FERMENTA BIOTECH LIMITED
Address of the registered office or of the principal place of business in India of the company	DIL Complex, Ghodbunder Road, Majiwada, Thane(W)-400 610, Maharashtra, India Email: fermenta@fermentabiotech.com
This form is for	Creation of charge
Type of charge	· Movable property · Any interest in immovable property
Particular of charge holder	Union Bank Of India, Solitier Tower, Manpada, Ghodbunder Road, Thane-400610, Maharashtra, India E-mail: cbsghodbunderroad@unionbankofindia.com
Nature of instrument creating charge	Simple Mortgage Deed
Date of instrument Creating the charge	19.5.2011
Amount secured by the charge	Rs.324.909 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As determined by the Bank from time to time Terms of Repayment Term Loan in installments and other facilities on Demand Margin As per sanction terms Extent and Operation of the charge To Secure Various facilties aggregating to Rs.324.909 Millions granted by the Bank to the Company as under :- Amount (Rs. in Lacs) 1. CC Hyp Stocks & Book-Debts Rs.30.000 Millions 2.PCFC limit Agst confirmed orders/LC Rs.20.000 Millions 3.FDBP/FUDBP Rs.20.000 Millions 4. Term Loan I Rs14.870 Millions 5. Term Loan II Rs. 8.963 Millions 6.Term Loan III Rs.14.869 Millions 7.Term Loan IV Rs.15.860 Millions 8. Term Loan V Rs.200.000 Millions 9. Union Miles Rs 0.347 Millions Total Aggregating Rs.324.909 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	· The Mortgagor as Sole Sublease holders hereby transfers to the Mortgagee by way of Registered Mortgage All that piece and parcel of land known as Plot No. Z/109/B & Z/109/C in Dahej SEZ (cont) · consisting of Revenue Survey Nos 476/P,477/P,478/P,479/P,504/P,505/P,506/P,507/P & 508/P within the Village limits of Lakhigam,Taluka Vagra District Bharuch containing by admeasurements (cont) · 30689.39 Sq.Mtrs (tentative) or thereabout and bounded as follows that is to say: · On or towards North: Plot No. Z/109/A · On or towards South : 10 MT wide road · On or towards East : Plot Z/109 (cont) · On or towards West: 10MT wide Corridor & 30 mt wide road

Fixed Assets:-

· Freehold Land

· Building

· Plant and Machinery

· Office Equipment

· Furniture and Fixture

· Vehicles

· Software

· Product Know-how

· c

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.51.65
UK Pound	1	Rs.81.79
Euro	1	Rs.67.18

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	Yes
--LITIGATION	YES/NO	No
--OTHER ADVERSE INFORMATION	YES/NO	No
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	No
--EXPORT ACTIVITIES	YES/NO	Yes
--AFFILIATION	YES/NO	Yes
--LISTED	YES/NO	No
--OTHER MERIT FACTORS	YES/NO	Yes
TOTAL		46

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.