MIRA INFORM REPORT

Report Date :

09.08.2012

IDENTIFICATION DETAILS

Name :	STERIMED MEDICAL DEVICES PRIVATE LIMITED
Registered Office :	Q – 21, Model Town, Part-I, Near Tangore Park, Delhi – 110009
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.03.2003
Com. Reg. No.:	55-119500
Capital Investment / Paid-up Capital :	Rs. 9.483 Millions
CIN No.: [Company Identification No.]	U33119DL2003PTC119500
TAN No.: [Tax Deduction & Collection Account No.]	DELS18932E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Foley Balloon Catheters And Disposable Medical Products.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 50000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Financial position of the company appears to be improving. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

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 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Sandeep
Designation :	Admin Manager
Contact No.:	91-11-48880000
Date :	08.08.2012

LOCATIONS

Registered Office :	Q – 21, Model Town, Part-I, Near Tangore Park, Delhi – 110009, India.
Tel. No.:	91-11-42466196 / 42466396 / 48880000 / 23854535
Fax No.:	91-11-23854144 / 25220907
E-Mail :	Sterimed.corporate@gmail.com
Website :	www.sterimeddisposables.com
Location :	Owned
Factory :	38KM, Stone, Delhirohtak Highway, Opposite Parle Biscute Factory, Bahadurgarh, Haryana, India
E-Mail :	info@sterimeddisposables.com sterimed.corporate@gmail.com

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Sarabjot Singh Narang
Designation :	Director
Address :	Q -21 / A, Model Town, Delhi -110009
Date of Birth/Age :	19.06.1959
Date of Appointment :	21.03.2003
Voter ID No.:	DL/06/061/246786
DIN No.:	00212133

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74899DL1991PTC046699	STERIMED SURNGICALS (INDIA) PRIVATE LIMITED	Director	10/12/1991	10/12/1991	Active	NO
2	U33119DL2003PTC119500	STERIMED MEDICAL DEVICES PRIVATE LIMITED	Director	21/03/2003	21/03/2003	Active	NO
3	U29195DL2004PTC126726	PRECISION THERMACOAT TECHNOLOGIES PRIVATE LIMITED	Director	02/06/2004	02/06/2004	Active	NO

Name :	Mr. Sarabdeep Singh Narang
Designation :	Director
Address :	Q -21 / A, Model Town, Delhi -110009
Date of Birth/Age :	02.02.1967
Date of Appointment :	21.03.2003
Voter ID No.:	DE/06/061/246783
DIN No.:	00287132

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74899DL1991PTC046699	STERIMED SURNGICALS (INDIA) PRIVATE LIMITED	Director	10/12/1991	10/12/1991	Active	NO
2	U33112DL1996PTC081354	HI-TECH MEDISYST PRIVATE LIMITED	Director	22/08/1996	22/08/1996	Active	NO
3	U33119DL2003PTC119500	STERIMED MEDICAL DEVICES PRIVATE LIMITED	Director	21/03/2003	21/03/2003	Active	NO

Name :	Mr. Beant Singh Narang
Designation :	Q -21 / A, Model Town, Delhi -110009
Address :	Director
Date of Birth/Age :	12.01.1928
Date of Appointment :	21.03.2003
Voter ID No.:	DL/06/061/246045
DIN No.:	00619561

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74899DL1991PTC046699	STERIMED SURNGICALS (INDIA) PRIVATE LIMITED	Director	10/12/1991	10/12/1991	Active	NO
2	U33119DL2003PTC119500	STERIMED MEDICAL DEVICES PRIVATE LIMITED	Director	21/03/2003	21/03/2003	Active	NO

KEY EXECUTIVES

Name :	Mr. Sandeep
Designation :	Admin Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Beant Singh Narang	133180
Sarabjot Singh Narang	348240
Sarabdeep Singh Narang	271350
Inderjeet Kaur	145500
Gagan Preet Kaur	50000
TOTAL	948270

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Foley Balloon Catheters And Disposable Medical Products.

Products :

ITC CODE	PRODUCT
0124	Surgical Items

Exports :

Countries :

· Egypt

· Afghanistan

· South Africa

· Algeria

Imports :

Products :

· Raw Material

Countries :

· China

Terms :

Selling :

L/C, Cash, Credit (30 Days)

Purchasing :

L/C, Cash, Credit (30 Days)

PRODUCTION STATUS (AS ON : 31.03.2011)

Particulars	Unit	Actual Production
S. M. D. O. L. (BH. Garh)
Foley Ballon Catheter	Pcs.	2153164
Others	Pcs.	1161979

GENERAL INFORMATION

Suppliers :

· Rathee Cement Store

· DRJ Chemicals Limited

· J R Bhatia and Company

· Mak Medicals Limited

· Prime Plastics

· S K Packers

· Scientific Chemicals (India)

· Sunee Industries

· Surgeine Healthcare (India) Private Limited

· All India Net Solutions

· Adventure Securities Private Limited

· First Flight Couriers Limited

· Sharma Enterprises

Customers :

Wholesalers, Retailers and End Users

· A. C. Surgipharma Private Limited

· Atlast Surgical

· Kerala Medical Service Corporation limited

· Medicon Health Care Private Limited

· Jai Health Care Private Limited

· Rita Rubber and Surgical Works

· Super Cardio Devices Private Limited

· The Chief Medical Superintendent

· Rohit Enterprises

· Life Line System Private Limited

· Paras Surgical Company

No. of Employees :

200 (Approximately)

Bankers :

· State Bank of India, SMECCC, SBI Building, 3^rd Floor, Chandani Chowk, Delhi – 110006, Delhi, India

· HDFC Bank

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
HDFC Bank Loan (Secured against car)	0.679	0.340
Working Capital Finance
From State Bank of India, Chandni Chowk (C.C A/c No.10820291649)	3.386	3.541
(Secured against hypothecation of stock, debtors and other receivable)
TOTAL	4.065	3.881
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Loan From Directors
Sarabdeep Singh	0.480	0.280
Beant Singh	0.100	0.100
Sarabjot Singh	0.250	0.250
TOTAL	0.830	0.630

Banking Relations :	--
Auditors :
Name :	R Grover And Company (Chartered Accountant)
Address :	306, Shiv Chamber, 2830/18, Beadon Pura, Karol Bagh, Delhi – 110005, India.
Tel. No.:	91-11-28721890 / 28728218
PAN No.:	AAIPG1873F

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
948270	Equity Shares	Rs.10/- each	Rs. 9.483 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		9.483	9.483	9.482
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3.159	1.726	0.914
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		12.642	11.209	10.396
LOAN FUNDS
1] Secured Loans		4.065	3.881	3.742
2] Unsecured Loans		0.830	0.630	0.630
TOTAL BORROWING		4.895	4.511	4.372
DEFERRED TAX LIABILITIES		0.119	0.143	0.132
TOTAL		17.656	15.863	14.900
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.859	8.145	8.881
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.517	0.207	0.387
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	9.428	8.347	7.010
	Sundry Debtors	9.990	8.733	7.749
	Cash & Bank Balances	0.428	0.372	0.490
	Other Current Assets	1.532	1.232	1.082
	Loans & Advances	2.523	1.056	1.221
Total Current Assets		23.901	19.740	17.552
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.563	9.215	8.961
	Other Current Liabilities	3.177	2.554	2.584
	Provisions	0.881	0.460	0.375
Total Current Liabilities		15.621	12.229	11.920
Net Current Assets		8.280	7.511	5.632
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		17.656	15.863	14.900

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	63.427	47.805	32.533
		Other Income
		TOTAL	63.427	47.805	32.533
Less	EXPENSES
		Office Expenses	61.339	46.673	31.933
		Administrative Expenses
		Advertising Expenses
		TOTAL	61.339	46.673	31.933
	PROFIT BEFORE TAX		2.088	1.132	0.600
Less	TAX		0.626	0.322	0.216
	PROFIT AFTER TAX		1.462	0.810	0.384
	EXPORT VALUE		1.590	4.137	2.994
	IMPORTS VALUE		1.649	2.050	0.000
	Earnings Per Share (Rs.)		1.54	0.85	0.40

Particulars	31.03.2012
Sales Turnover (Approximately)	110.000

Expected Sales (2012-2013) : Rs.150.000 Millions

The above information has been parted by Mr. Sandeep.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.31	1.69	1.18
Return on Total Assets (PBT/Total Assets}	(%)	6.37	4.06	2.27
Return on Investment (ROI) (PBT/Networth)		0.17	0.10	0.06
Debt Equity Ratio (Total Liability/Networth)		1.63	1.51	1.58
Current Ratio (Current Asset/Current Liability)		1.53	1.61	1.47

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

OPERATION

During the year the sales of the company has been able to achieve sale of Rs. 63.427 Millions of (Previous year Rs. 47.805 Millions) and earn a profit of Rs. 2.088 Millions (Previous year Rs. 1.132 millions).

FIXED ASSETS

· Air Conditioner

· Building

· Car

· Computer

· Cycle

· Electrical Installation

· Epbx

· Fax Machine

· Fire Extinguisher

· Furniture And Fixture

· Generator

· Lab Instrument

· Land

· Moulde and Die

· Office Equipment

· Pager

· Plant And Machinery

· Printer

· Scooter

· Tools And Equipment

· UPS

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. 55.14
UK Pound	1	Rs. 86.00
Euro	1	Rs. 68.31

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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.