MIRA INFORM REPORT

Report Date :

03.01.2012

IDENTIFICATION DETAILS

Name :	UNIMARK REMEDIES LIMITED (w.e.f. 03.05.1995)
Formerly Known as:	UNIMARK REMEDIES PRIVATE LIMITED
Registered Office :	Enterprise Center, 1^st Floor, Off Nehru Road, Vile Parle (East), Mumbai – 400 099, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	01.12.1993
Com. Reg. No.:	11-075373
Capital Investment / Paid-up Capital :	Rs. 129.934 Millions
CIN No.: [Company Identification No.]	U23200MH1993PLC075373
TAN No.: [Tax Deduction & Collection Account No.]	MUMU03720G
PAN No.: [Permanent Account No.]	AAACU0589R
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of Active Pharmaceutical Ingredients Formulations.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (62)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 12400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having fine track. Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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. Omprakash Singh
Designation :	Secretary and Financial Controller
Contact No.:	91-22-67304000

LOCATIONS

Registered Office :	Enterprise Center, 1^st Floor, Orchid Lane, Off Nehru Road, Vile Parle (East), Mumbai – 400 099, Maharashtra, India
Tel. No.:	91-22-26464769 / 26040361 / 67304153 / 67304000 / 101
Fax No.:	91-22-67304100 / 260 / 26463772 / 26007917
E-Mail :	unimark@bom4.vsnl.net.in legal@unimarkremedies.com business@unimarkremedies.com yogeshparikh@unimarkremedies.com op.singh@unimarkremedies.com
Website :	http://www.unimarkremedies.com
Area :	5000 sq. ft.
Location :	Owned
Factory 1 :	41, G.I.D.C. Industrial Estate, 1^st Phase, District Valsad, Vapi – 396 195, Gujarat, India
Tel. No.:	91-260-2420639/ 40
Fax No.:	91-260-2420161/ 2424390
Factory 2 :	337, Kerala Nalsarovar Road, Taluka Dholka, Village Bavla, Ahmedabad – 380 220, Gujarat, India
Tel. No.:	91-2714-304100
Fax No.:	91-2714-268381/ 268229
Factory 3 :	Bldg. No. AP/2-3, Gala No. 1 to 4, Rajlaxmi commercial Complex, Bhiwandi, India
Godown :	Near Marwell Engineering Works, Koparkhairne, Vashi, Navi Mumbai – 400 705, Maharashtra, India
Tel. No.:	91-22-27687728

DIRECTORS

As on 29.09.2011

Name :

Mr. Sandip Jayant Parekh

Designation :

Whole-time Director

Address :

11^th Floor, Kamleshwar New Cooperative Housing Society Limited, 40, Tagore Road, Santacruz West, Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

24.01.1968

Qualification :

M. Sc.( Org. Chem. ) from IIT, Mumbai

Date of Appointment :

01.12.1993

DIN :

00048033

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U23200MH1993PLC075373	UNIMARK REMEDIES LIMITED	Whole-time director	1/8/2009	1/12/1993	Active	NO
2	U85190MH2008PTC188384	ZEN LIFE SCIENCES PRIVATE LIMITED	Director	21/11/2008	21/11/2008	Active	NO
3	U24100MH2009PTC194712	ONKOLOGY KOMBINE PRIVATE LIMITED	Director	6/8/2009	6/8/2009	Active	NO
4	U24100MH2010PTC209590	SYNERGIA SCIENCES PRIVATE LIMITED	Director	29/10/2010	29/10/2010	Active	NO

Name :

Mr. Mehul Jayant Parekh

Designation :

Managing Director

Address :

11^th Floor, Kamleshwar New Cooperative Housing Society Limited, 40, Tagore Road, Santacruz West, Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

26.11.1958

Qualification :

B.Com

Date of Appointment :

06.03.1995

DIN :

00026776

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	U23200MH1993PLC075373	UNIMARK REMEDIES LIMITED	Managing director	1/8/2009	6/3/1995	-	Active	NO
2	U67200MH2004PTC144428	UNIQUEST TECHNOLOGY PRIVATE LIMITED	Director	9/2/2004	9/2/2004	24/04/2008	Active	NO
3	U72100MH2005PTC151036	INFOMARK TECHNOLOGIES PRIVATE LIMITED	Director	4/2/2005	4/2/2005	31/08/2007	Active	YES
4	U85190MH2008PTC188384	ZEN LIFE SCIENCES PRIVATE LIMITED	Director	21/11/2008	21/11/2008	-	Active	NO
5	U24100MH2009PTC194712	ONKOLOGY KOMBINE PRIVATE LIMITED	Director	6/8/2009	6/8/2009	-	Active	NO
6	U24100MH2010PTC209590	SYNERGIA SCIENCES PRIVATE LIMITED	Director	29/10/2010	29/10/2010	-	Active	NO
7	U24233MH2011PTC221624	IMMUNOCON BIOREMEDIES PRIVATE LIMITED	Director	7/9/2011	7/9/2011	-	Active	NO

Name :

Mr. Yogesh Navnitlal Parekh

Designation :

Whole-time Director

Address :

C-36, Gujarat Society, 2^nd Floor, Vile Parle (East), Mumbai – 400 057, Maharashtra, India

Date of Birth/Age :

03.02.1959

Qualification :

B. Com, F.C.A

Date of Appointment :

17.07.1995

DIN :

00048121

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	U23200MH1993PLC075373	UNIMARK REMEDIES LIMITED	Whole-time director	1/8/2009	17/07/1995	-	Active	NO
2	U67200MH2004PTC144428	UNIQUEST TECHNOLOGY PRIVATE LIMITED	Director	9/2/2004	9/2/2004	24/04/2008	Active	NO
3	U72100MH2005PTC151036	INFOMARK TECHNOLOGIES PRIVATE LIMITED	Director	4/2/2005	4/2/2005	31/08/2007	Active	YES
4	U72300MH2007PTC167431	INNOVEER SOLUTIONS INDIA PRIVATE LIMITED	Director	31/01/2007	31/01/2007	-	Active	NO
5	U85190MH2008PTC188384	ZEN LIFE SCIENCES PRIVATE LIMITED	Director	21/11/2008	21/11/2008	-	Active	NO
6	U24100MH2009PTC194712	ONKOLOGY KOMBINE PRIVATE LIMITED	Director	6/8/2009	6/8/2009	-	Active	NO

Name :

Mr. Harmander Palsingh Chawla

Designation :

Director

Address :

1022, Sector 44B, Chandigarh – 160047, Haryana, India

Date of Birth/Age :

14.04.1940

Date of Appointment :

04.03.2005

DIN :

00015627

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U23200MH1993PLC075373	UNIMARK REMEDIES LIMITED	Director	4/3/2005	4/3/2005	Active	NO
2	L24230CH1986PLC006897	IND SWIFT LIMITED	Director	11/12/2006	11/12/2006	Active	NO
3	L24232CH1995PLC015553	IND SWIFT LABORATORIES LIMITED	Additional director	24/03/2009	24/03/2009	Active	NO

Name :

Mr. John Wiliam Scott

Designation :

Director

Address :

81, Edgemont Road, Montclair, USA 07043

Date of Birth/Age :

18.12.1941

Date of Appointment :

25.05.2007

DIN :

02091684

Name :

Mr. Himadri Sen

Designation :

Whole-time Director

Address :

S 119, DLF City, Phase – 3, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

26.04.1948

Date of Appointment :

21.09.2010

DIN :

03552235

Name :

Mr. Ramesh Narsibhai Patel

Designation :

Additional Director

Address :

572, Cabothill Road, Bridge Water, NJ, USA – 08807-1562

Date of Birth/Age :

08.11.1942

Date of Appointment :

29.07.2009

DIN :

02656834

Name :

Mr. Omdutt Behari Tyagi

Designation :

Whole time director

Address :

B – 804, Oberoi Woods, Off Western Express Highway, Goregaon (East), Mumbai-400 063, Maharashtra, India

Date of Birth/Age :

01.09.1958

Date of Appointment :

16.04.2010

DIN :

03023105

Name :

Mr. Rajiv Saman Shukla

Designation :

Director

Address :

B – 1101, Prathmesh Residency Dadabhai Road, Andheri, Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

21.12.1974

Date of Appointment :

10.08.2011

DIN :

02143904

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	U24231KA2005PLC035853	I-Ven Pharma Capital Limited	Director	29/09/2008	7/4/2008	16/02/2010	Active	NO
2	U85110KA2007PTC043424	I-VEN MEDI-CARE INDIA Private Limited	Director	18/12/2008	28/04/2008	16/02/2010	Active	NO
3	U24239AP2005PTC047357	PERLECAN PHARMA PRIVATE LIMITED	Nominee director	5/5/2008	5/5/2008	29/07/2008	Amalgamated	NO
4	U24231MH1993PLC150891	ARCH PHARMALABS LIMITED	Nominee director	5/5/2008	5/5/2008	30/11/2009	Active	NO
5	U24230AP1996PLC023232	BHARAT BIOTECH INTERNATIONAL LIMITED	Nominee director	5/5/2008	5/5/2008	20/01/2010	Active	NO
6	U24230TN1980PLC008382	MALLADI DRUGS AND PHARMACEUTICALS LIMITED	Nominee director	30/06/2008	5/5/2008	22/01/2010	Active	NO
7	U24299KA2006PTC040565	Clininvest Holdings Private Limited	Director	26/05/2008	26/05/2008	9/2/2010	Active	NO
8	U24209DL1991PLC175849	RFCL Limited.	Nominee director	30/06/2008	30/06/2008	16/02/2010	Active	NO
9	U74140WB2003PTC121076	MEDICA SYNERGIE PRIVATE LIMITED	Nominee director	23/12/2008	23/12/2008	24/03/2010	Active	NO
10	U23200MH1993PLC075373	UNIMARK REMEDIES LIMITED	Director	29/09/2011	10/8/2011	-	Active	NO

Name :

Mr. Shekhar Ramchandra Shanbhag

Designation :

Director

Address :

53, Winged Foot Drive, Manalapan, New Jersey, USA - 07726

Date of Birth/Age :

30.06.1947

Date of Appointment :

06.05.2011

DIN :

03518366

Name :

Mr. Ranchhodlal Kesavlal Shah

Designation :

Director

Address :

1601, Somerest Opposite D-Mart, Hiranandani Gardens Powai, Mumbai – 400076, Maharashtra, India

Date of Birth/Age :

08.04.1944

Date of Appointment :

17.06.2011

DIN :

03470002

KEY EXECUTIVES

Name :	Mr. Mohammad Abdul Nadeem
Designation :	Secretary
Address :	G – 402, Plot 8 and 9 Sector 19A, Nerul East, Navi Mumbai – 400706, Maharashtra, India
Date of Birth/Age :	07.11.1977
Date of Appointment :	27.06.2011
PAN :	ADTPN5526G

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Name	No. of Equity Shares
Jayant M Parekh Jt. With Madhukanta Parekh	103,570
Madhukanta J Parekh Jt. With Jayant M Parekh	46,380
J. M Parekh –Huf	3,36,190
Nandini S. Parekh	270
Sonali M. Parekh	2,18,970
Pooja M.Parekh	8,370
Mehul J Parekh Jt. Beena M Parekh	47,79,550
Sandip Parekh Jt. Nandini S Parekh	8,17,200
Beena M Parekh Jt. Mehul J Parekh	6,34,500
Jayant M Parekh Jt: Madhukanta Parekh Jt. Mehul Parekh	25,000
Swiss Technology Venture Capital Fund (Private) Limited	4,70,588
Adhunik Finance Private Limited	1,25,000
Am Rita Advisors Pvt. Ltd	1,00,000
Dr.Hitesh Parikh Jt: Dr. Priti Parikh	2,800
Dr. Priti Parikh Jt: Dr. Hitesh Parikh	2,800
Dr.Ashok Palvia Jt: Mrs. Ashok Palvia	300
Paresh Kakadia Jt: Mrs. Paresh Kakadia	300
Ketan Sukhadia Jt:Jigna Sukhadia	300
Anuj Sukhadia Jt:Chhaya Sukhadia	300
Jigna Sukhadia Jt: Ketan Sukhadia	300
Chhaya Sukhadia Jt:Anuj Sukhadia	300
Pooja Sukhadia Jt:Anuj Sukhadia	300
Aesha Sukhadia Jt: Ketan Sukhadia	300
Niranjan Gupta Jt:Mrs. Niranjan Gupta	300
Jayesh Gandhi Jt: Mrs. Jayesh Gandhi	300
Amul Shah Jt: Nilay Shah	300
Nilay Shah Jt: Amul Shah	300
Shahid Rangooni Jt:Roopa Rangooni	300
Roopa Rangooni Jt: Shahid Rangooni	300
Cvcigp Ii Client Rosehill Limited	21,77,034
Cvcigp Ii Employee Rosehill Limited	12,19,283
CVCIGP II Vinayak Shenvi Trust (Through Trustees Gautam Nayak And Keshav Bhujle)	526
CVCIGP II Jayanta Kumar Basu Trust (Through Trustees Gautam Nayak And Keshav Bhujle)	526
CVCIGP II Vivek Chhachhi Trust (Through Trustees Gautam Nayak And Keshav Bhujle)	526
CVCIGP II P.R. Srinivasan Trust (Through Trustees Gautam Nayak And Keshav Bhujle)	526
Madhukanta Parekh Jt: Dr. Hitesh Parikh	2,26,612
Madhukanta Parekh Jt: Dr. Priti Parikh	1,96,600
J.M. Parekh Jt: Dr. Priti Parikh	600
Jayant M.Parekh Jt: Dr. Ashok Palvia	1,24,700
J.M.Parekh (Huf) Jt: Paresh Kakadia	1,24,700
Yogesh Parikh Jt:Ketan Sukhadia	1,74,700
Raj Parikh Jt:Anuj Sukhadia	1,74,700
Madhvi Parikh Jt:Jigna Sukhadia	1,49,700
Pankti Parikh Jt:Chhaya Sukhadia	1,49,700
Madhvi Parikh Jt:Pooja Sukhadia	25,300
Pankti Parikh Jt:Pooja Sukhadia	24,400
Pankti Parikh Jt:Aesha Sukhadia	900
Yogesh Parikh Jt:Aesha Sukhadia	300
Raj Parikh Jt:Aesha Sukhadia	300
Jayant M.Parekh Jt:Aesha Sukhadia	48,200
Jayant M. Parekh Jt: Niranjan Gupta	99,700
J.M. Parekh (Huf) Jt:Jayesh Gandhi	99,700
Jayant M.Parekh Jt: Amul Shah	74,700
Jayant M.Parekh Jt: Nilay Shah	50,300
J.M. Parekh (Huf) Jt: Nilay Shah	24,400
J.M. Parekh(Huf) Jt: Shahid Rangooni	74,700
J.M. Parekh (Huf) Jt:Roopa Rangooni	74,700
Hikma Pharmaceuticals Llc	38,96,104
TOTAL	1,68,89,525

As on 29.09.2011

Equity Share Breakup (Percentage of Total Equity) Category	Percentage
Bodies corporate	1.33
Directors or relatives of directors	52.64
Other	0.07
Foreign holdings( Foreign institutional investor(s), Foreign companie’s Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	45.96
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Active Pharmaceutical Ingredients Formulations.

Products:

Product Description	ITC Code No
Nalidicic Acid	2918.3030
7ACCA	2941.9010
Cefixime	2941.9090

Exports :

Products :

• Drug Intermediates
• Pharmaceutical Raw Material

Countries :

• Bangladesh
• Taiwan
• Turkey
• Vietnam
• France
• Spain
• HongKong
• Jordon
• Pakistan

Imports :

Products :

• Raw Material

Countries :

• Korea
• Turkey
• China

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
API	Tones	57.356	182.504

GENERAL INFORMATION

Customers :

· End Users

· OEM’s

No. of Employees :

500 (Approximately)

Bankers :

• DBS Bank Limited, 3^rd Floor, Fort House, 221,Dr.D.N.Road, Fort, Mumbai-400001, Maharashtra, India
• State Bank of India, Backbay Reclamation Branch, Raheja Chambers, Free Press Journal Marg, Nariman Point, Mumbai - 400021, Maharashtra, India
• Bank of Baroda
• Canara Bank
• Citi Bank N.A.
• State Bank of Indore
• Export Import Bank of India
• Standard Chartered Bank, 90, M. G. Road, Fort, Mumbai - 400001, Maharashtra, India

Facilities :

Secured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Term loans	1405.077	1395.717
Working Capital Loans	1890.640	1606.594
Vehicle loans	3.575	4.343
Housing Loans	0.000	35.657
Total	3299.292	3042.311

Banking Relations :	-
Auditors :
Name :	Walker Chandiok and Company Chartered Accountant
Address :	Engineering Centre, 6^th Floor, 9, Mathew Road, Opera House, Mumbai – 400 004, Maharashtra, India
Tel. No.:	91-22-23671623
Fax No.:	91-22-23671624
E-Mail :	mumbai@wcgt.in
Associates :	KDL Biotech Limited
Subsidiaries :	· Unimark Remedies Hong Kong Limited   · Oncology Kombine Private Limited · Zen Life Sciences Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
15,000,000	Equity Share	Rs.10/- Each	Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12,993,421	Equity Share	Rs.10/- Each	Rs. 129.934 Millions

Notes: Of the above 4580000 equity shares of Rs.10/- each allotted as fully paid bonus shares by capitalization of reserves.

AS ON 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000,000	Equity Share	Rs.10/- Each	Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16,889,525	Equity Share	Rs.10/- Each	Rs. 168.895 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		129.934	129.934	129.934
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2987.100	2705.394	2441.377
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3117.034	2835.328	2571.311
LOAN FUNDS
1] Secured Loans		3299.292	3042.311	1620.121
2] Unsecured Loans		353.218	123.218	100.000
TOTAL BORROWING		3652.510	3165.529	1720.121
DEFERRED TAX LIABILITIES		426.441	367.553	338.328
TOTAL		7195.985	6368.410	4629.760
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3758.717	2823.208	1597.840
Capital work-in-progress		786.700	829.935	695.852
INVESTMENT		128.843	128.742	0.386
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1362.849	981.820	883.279
	Sundry Debtors	1659.204	1357.126	1305.086
	Cash & Bank Balances	318.847	883.386	989.472
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	609.171	464.326	269.728
Total Current Assets		3950.071	3686.658	3447.565
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1266.853	952.790	1021.624
	Other Current Liabilities	142.289	1084.631	78.691
	Provisions	19.204	15.502	11.568
Total Current Liabilities		1428.346	1100.133	1111.883
Net Current Assets		2521.725	2586.525	2335.682
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7195.985	6368.410	4629.760

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	6278.873	5764.564	5071.414
		Other Income	0.053	0.054	0.048
		TOTAL (A)	6278.926	5764.618	5071.462
Less	EXPENSES
		Materials Consumed	4038.376	3872.047	3550.034
		N=manufacturing and Other Expenses	629.613	566.422	373.855
		Personnel Cost	382.475	291.432	205.329
		Selling and General administration expenses	342.667	267.959	229.008
		Research and Development Expenses	43.348	39.653	71.700
		TOTAL (B)	5436.479	5037.513	4429.926
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I		842.447	727.105	641.536
Less	FINANCIAL EXPENSES (D)		261.939	240.158	154.594
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		580.508	486.947	486.942
Less/ Add	DEPRECIATION/ AMORTISATION (F)		239.791	130.239	91.356
	PROFIT BEFORE TAX (E-F) (G)		340.717	356.708	395.586
Less	TAX (H)		59.011	70.893	106.175
	PROFIT AFTER TAX (G-H) (I)		281.706	285.815	289.411
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		362.036	326.221	286.810
Less	APPROPRIATIONS
		Transfer to General Reserve	250.000	250.000	250.000
	BALANCE CARRIED TO THE B/S		393.742	362.036	326.221
	EARNINGS IN FOREIGN CURRENCY		2682.723	2295.597	24.05
	IMPORTS
		Raw Materials	1806.381	1870.410	NA
		Finished Goods	245.255	0.000	NA
		Stores & Spares	0.133	1.273	NA
		Capital Goods	51.951	51.893	NA
	TOTAL IMPORTS		2103.720	1923.576	NA
	Earnings Per Share (Rs.)		21.68	22.00	10.00

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	4.49	4.91	5.71
Net Profit Margin (PBT/Sales)	(%)	5.43	6.18	7.800
Return on Total Assets (PBT/Total Assets}	(%)	6.33	5.47	7.84
Return on Investment (ROI) (PBT/Networth)		0.11	0.12	0.15
Debt Equity Ratio (Total Liability/Networth)		1.63	2.62	1.10
Current Ratio (Current Asset/Current Liability)		2.77	3.35	3.10

LOCAL AGENCY FURTHER INFORMATION

Nature of operations

Subject is a public limited company was incorporated on 1 December 1993. The Company is primarily engaged in the manufacturing of Active Pharmaceutical Ingredients ("APIs") and Advanced Intermediates. The Company has developed skills in the areas of process research and development, process chemistry, handling complex chemical reactions and expertise in marketing of APIs and speciality intermediates both globally and within India. The Company currently operates two fully US FDA approved manufacturing units at Bavla near Ahmedabad, and at Vapi both in the state of Gujarat, India. At both these units the Company also has state of the art research and development facilities.

The Company has also started a new venture involving manufacture and marketing of formulations in the Indian market and has recently started to export such formulations in other unregulated markets.

Bankers Charges Report as per Registry

Corporate identity number of the company	U23200MH1993PLC075373
Name of the company	UNIMARK REMEDIES LIMITED
Address of the registered office or of the principal place of business in India of the company	Enterprise Centre, 1st Floor, Off. Nehru Road, Vile Parle (East), Mumbai – 400099, Maharashtra, India
This form is for	Modification of charge
Charge identification number of the modified	10101693
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	Standard Chartered Bank, 90, M. G. Road, Fort, Mumbai - 400001, Maharashtra, India Email : nilesh.bababr@sc.com
Nature of description of the instrument creating or modifying the charge	Supplemental to Unattested Memorandum of Hypothecation dated 01/08/2011 executed by the Company in favour of Standard Chartered Bank.
Date of instrument Creating the charge	01.08.2011
Amount secured by the charge	Rs.335.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest - LC / Payment Undertaking / OD / WCDL / Short Term Loan / Export Preshipment Finance / Export Postshipment Finance. Interest / Commission - As agreed by and with the Bank from time to time. Terms of Repayment - As agreed by and with the Bank from time to time. Margin - As applicable, if any. Extent and Operation of the charge - The Bank is having a first pari passu charge over Current assets (both present and future) and Second pari passu charge on Movable Fixed Assets of the Company located at Vapi and Bavla (Ahmedabad).
Short particulars of the property charged	First pari passu charge by way of hypothecation on all present and future book debts, outstanding moneys receivable, claims and bills which are now due and owing or which may at any time during the continuance of this security become due and owing to the Company in the course of it's business. First pari passu charge by way of hypothecation on all present and future stock in trade consisting of raw materials, finished goods, goods in process of manufacturing and other merchandise whatsoever, being movable properties belonging to / at the disposal of the Company. Second pari passu charge by way of hypothecation on all present and future movable properties of the Company including without limitation its movable plant and machinery located at Vapi and Bavla (Ahmedabad), furniture and fittings, equipment, computer hardware, computer software, machinery spares, tools and accessories and other movables.
Date of latest modification prior to the present modification	19.09.2008
Particulars of the present modification	By present modification, the Bank has agreed to increase certain credit facilities to the Company, by way of working capital facilities, up to a maximum principal amount of INR 335.000 millions from the existing facility limit of INR 250.000 millions.

Corporate identity number of the company	U23200MH1993PLC075373
Name of the company	UNIMARK REMEDIES LIMITED
Address of the registered office or of the principal place of business in India of the company	19, Crystal, 1^st Floor, Juhu Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India
This form is for	Modification of charge
Charge identification number of the modified	90166825
Type of charge	Book Debts Movable Property
Particular of charge holder	State Bank of India, Backbay Reclamation Branch, Raheja Chambers, Free Press Journal Marg, Nariman Point, Mumbai - 400021, Maharashtra, India
Nature of description of the instrument creating or modifying the charge	Supplemental Agreement of Hypothecation of Goods and Assets dated 7th January, 2011 for increase in the overall limit from Rs.350.000 millions to Rs.467.000 millions has been executed.
Date of instrument Creating the charge	07.01.2011
Amount secured by the charge	Rs.467.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Demand Cash Credit limit - 6.75% above base rate i.e. 14.25% p.a. with monthly rest EPC / PCFC limit - As per SBI Guidelines EBD/EBP/PSC Credit Limit - As per SBI Gold card scheme for Exporters Terms of Repayment Repayment on demand on the Bank of all monies including the principal sums, interest, cost, charges, expenses and other monies payable by the company from time to time and for the time being to the bank in r/o or in any wise concerning the credit facilities agreed to be granted and/or continued by the bank to the company upto the increased limit of Rs.467.000 millions, on the terms and conditions contained in the Suppl. Agreement of Hypothecation of Goods and Assets for increase in the overall limit. Margin Raw material - Domestic - 25% - Imported - 25% Stocks in Process - 25% Finished Goods - 25% Book Debts - 25% EPC / PCFC - 10% LC - 5% BG - 5% Extent and Operation of the charge The Company agrees to the goods and assets hypothecated, charged in favour of the bank under supplemental Agreement, as a continuing security by way of first charge of company's stocks on pari passu basis and second charge on plant and machinery and other fixed assets ranking pari passu with other banks for working capital facilities for due repayment on demand on Bank of all monies payable by the company from time to time and on terms and conditions in the Supplemental Agreement.
Short particulars of the property charged	First charge by way of hypothecation on Company's entire Stocks in process, finished goods, book debts, goods in transit and entire current assets on pari passu basis, present and future Second charge on company's entire plant and machinery and other fixed assets ranking pari passu with other banks under multiple banking arrangement
Date of latest modification prior to the present modification	29.09.2009
Particulars of the present modification	The Charge was created in favour of State Bank of India on 2nd April, 2004 . The said charge was modified on 14th August, 2008, 20th November, 2008, 6th February, 2009 and 29th September, 2009 by changing the overall limit to Rs.350.000 millions. The said charge is now further modified by executing Supplementary Agreement of Hypothecation of Goods and Assets dated 7th January, 2011 for increasing the overall limit from Rs.350.000 millions to Rs.467.000 millions.

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.53.29
UK Pound	1	Rs.82.66
Euro	1	Rs.68.90

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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		62

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.