MIRA INFORM REPORT

Report Date :

05.03.2012

IDENTIFICATION DETAILS

Name :	ARCH PHARMALABS LIMITED (w.e.f. 31.03.2004)
Formerly Known As :	ARCH COMMERZ PRIVATE LIMITED
Registered Office :	541/A, Arch House, Marol Maroshi Road, Marol, Andheri (East), Mumbai-400059, Maharashtra
Country :	India
Financial (as on) :	31.03.2011
Date of Incorporation :	02.04.1993
Com. Reg. No.:	11-150891
Capital Investment / Paid-up Capital :	Rs. 247.840 Millions
CIN No.: [Company Identification No.]	U24231MH1993PLC150891
TAN No.: [Tax Deduction & Collection Account No.]	MUMA19603D
PAN No.: [Permanent Account No.]	AACCM0306Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing of Pharmaceutical Intermediates.
No. of Employees :	1500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 27000000
Status :	Satisfactory
Payment Behaviour :	Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Financial position of the company appears to be good. Trade relations are reported as fair. Business is active. Payments are reported to be 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

LOCATIONS

Registered Office / Corporate Office :	541/A, Arch House, Marol Maroshi Road, Marol, Andheri (East), Mumbai-400059, Maharashtra, India
Tel. No.:	91-22-28470555 / 33089200 / 33089400 / 40756789
Fax No.:	91-22-28471234 / 1002
E. Mail.:	info@archpharmalabs.com sudhir.nagar@archpharmalabs.com
Website:	www.archpharmalabs.com
Head Office :	Titanic Building, 3^rd Floor, Tex Center Off 5, Mumbai, Maharashtra, India
Tel. No.:	91-22-28470555
Fax No.:	91-22-28471012
Plant:	1. Survey No. 323, Gundlamachnur Village, Hathnoora Mandal, District Medak – 502 296, Andhra Pradesh, India Tel. No.: 91-22-28560555/0560 Fax No.: 91-22-28561234/1002 E-Mail : archcom@mtnl.net.in archfin@vsnl.com infor@archpharmalabs.com Area : 5500 Sq.fts Location : Owned 2. Survey No. 280, Mittapally Village, Siddipet – 502 375, Medak, Andhra Pradesh, India 3. Plot No. T- 84, 85 and 86 MIDC Tarapur, Taluka Palghar, District Thane, Maharashtra, India 4. Plot No. G-4 and G-5, Kharvai MIDC, Badlapur, District Thane - 421 503, Maharashtra, India 5. Vitalifa Laboratories, Village Pathreri, Bilaspur Tauru Road, District Gurgoan – 122 001, Haryana, India 6. Plot No. G-6, MIDC Taloja, Taloja Industrial Area, Village Navade, Taluka Panvel, District Raigad, Maharashtra, India 7. Corporate R and D Centre - I, Plot No. 21, MIDC, Chemical Zone , Taloja Industrial Area, Village Navade, Taluka Panvel, District Raigad – 410 208, Maharashtra, India 8. Corporate R and D Centre - II, Plot No. C-424, TTC Turbhe, MIDC Industrial Area, Navi Mumbai, Maharashtra, India 9. Plot No. W-45 (C) Anand Nagar, Additional Ambernath District Thane - 421 506, Maharashtra, India 10. V-8, MIDC, Taloja, Raigad, Maharashtra, India
Branch:	Located at:- 1. Sainath, 8-2-120/86/10/2, Muncipal No. 389, Road No. 14, Banjara hills, Hyderabad - 500 034, Andhra Pradesh 2. Shop No.3, Village Pabhat, Chandigarh Road, Zirakpur District, Ropar, Punjab

DIRECTORS

(As On 29.09.2010)

Name :	Mr. Ajit Annu Kamath
Designation :	Chairman and Managing Director
Address :	404, I la Apartments, Sector 4, R. O. P. 7, Chrkop, Kandivli (West), Mumbai-400067, Maharashtra, India
Date of Birth/Age :	12.12.1969
Qualification :	Graduate
Date of Appointment :	01.11.2003
DIN No. :	00032799

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	U67190MH1994PTC078769	ANHITA FINANCIAL SERVICES (BOMBAY) PRIVATE LIMITED	Director	6/6/1994	6/6/1994	26/03/2006	Active	NO
2	U65993MH1997PTC107197	ARCH INVESTMENT PRIVATE LIMITED	Director	10/4/1997	10/4/1997	-	Active	NO
3	U24233MH2000PTC126987	ARCH HERBALS PRIVATE LIMITED	Director	5/6/2000	5/6/2000	-	Active	NO
4	U51900MH2000PTC127806	ARCH IMPEX PRIVATE LIMITED	Director	19/07/2000	19/07/2000	-	Active	NO
5	U15499MH2000PTC129255	ARCH PHYTOCHEMICALS PRIVATE LIMITED	Director	19/10/2000	19/10/2000	-	Active	NO
6	U24231MH2000PLC129882	ARCH PHARMACHEM LIMITED	Director	29/07/2003	29/07/2003	-	Active	NO
7	U24231MH1993PLC150891	ARCH PHARMALABS LIMITED	Managing director	1/11/2008	1/11/2003	-	Active	NO
8	U21000MH1996PTC103102	AVANT CAPITAL SERVICES PRIVATE LIMITED	Director	15/06/2005	15/06/2005	-	Active	NO
9	U45200AP2006PTC051039	MARM REALTY PRIVATE LIMITED	Director	1/9/2006	1/9/2006	-	Active	NO
10	U55204MH2007PTC166795	ACCENTURE HOSPITALITY PRIVATE LIMITED	Director	6/1/2007	6/1/2007	-	Strike off	NO
11	U24239AP2003PLC042232	ARCH LIFE SCIENCES LIMITED	Director	2/4/2007	2/4/2007	-	Active	NO
12	U65190MH2007PTC171972	A M R INVESTMENTS PRIVATE LIMITED	Director	25/06/2007	25/06/2007	-	Active	NO
13	U24100MH2000PLC125507	NIPRO TUBE GLASS LIMITED	Director	31/07/2007	31/07/2007	-	Active	NO
14	U24110AP1993PLC015533	ARCH FINECHEMICALS LIMITED	Director	29/09/2007	22/08/2007	-	Active	NO
15	U45200MH2007PLC175780	ARCH INFRA VENTURES LIMITED	Director	7/11/2007	7/11/2007	-	Active	NO
16	U24230MH2004PTC147388	BENZOCHEM LIFESCIENCES PRIVATE LIMITED	Director	10/7/2008	10/7/2008	12/3/2010	Active	NO
17	U24233MH2008PTC186600	ARISTO HERBOFARM PRIVATE LIMITED	Director	9/9/2008	9/9/2008	5/3/2009	Active	NO
18	U24233MH2008PTC186599	AIM HERBOFARM PRIVATE LIMITED	Director	9/9/2008	9/9/2008	5/3/2009	Active	NO
19	L24110AP1993PLC016112	AVON ORGANICS LIMITED	Managing director	1/8/2009	31/01/2009	-	Active	NO
20	U24239MH2011PLC213956	AMRA REMEDIES LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
21	U01403MH2011PTC218636	ARCH AGROCHEMICALS PRIVATE LIMITED	Director	14/06/2011	14/06/2011	-	Active	NO
22	U24100MH2011PLC223168	AMRA RENAL CARE LIMITED	Director	17/10/2011	17/10/2011	-	Active	NO

Name :	Mr. Manoj Tejraj Jain
Designation :	Deputy Managing Director
Address :	Flat No. 4-A, Shefali, Mahim Makarand Society, 114, SVS Marg, Mahim, Mumbai – 400016, Maharashtra, India
Date of Birth/Age :	20.03.1970
Date of Appointment :	01.11.2003
DIN No. :	00034727

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	U67190MH1994PTC078769	ANHITA FINANCIAL SERVICES (BOMBAY) PRIVATE LIMITED	Director	6/6/1994	6/6/1994	26/03/2006	Active	NO
2	U65993MH1997PTC107197	ARCH INVESTMENT PRIVATE LIMITED	Director	10/4/1997	10/4/1997	-	Active	NO
3	U24233MH2000PTC126987	ARCH HERBALS PRIVATE LIMITED	Director	5/6/2000	5/6/2000	-	Active	NO
4	U51900MH2000PTC127806	ARCH IMPEX PRIVATE LIMITED	Director	19/07/2000	19/07/2000	-	Active	NO
5	U15499MH2000PTC129255	ARCH PHYTOCHEMICALS PRIVATE LIMITED	Director	19/10/2000	19/10/2000	-	Active	NO
6	U24231MH2000PLC129882	ARCH PHARMACHEM LIMITED	Director	29/07/2003	29/07/2003	-	Active	NO
7	U24231MH1993PLC150891	ARCH PHARMALABS LIMITED	Whole-time director	1/11/2008	1/11/2003	-	Active	NO
8	U21000MH1996PTC103102	AVANT CAPITAL SERVICES PRIVATE LIMITED	Director	15/06/2005	15/06/2005	-	Active	NO
9	U55204MH2007PTC166795	ACCENTURE HOSPITALITY PRIVATE LIMITED	Director	6/1/2007	6/1/2007	-	Strike off	NO
10	U24239AP2003PLC042232	ARCH LIFE SCIENCES LIMITED	Director	2/4/2007	2/4/2007	-	Active	NO
11	U65190MH2007PTC171972	A M R INVESTMENTS PRIVATE LIMITED	Director	25/06/2007	25/06/2007	-	Active	NO
12	U24100MH2000PLC125507	NIPRO TUBE GLASS LIMITED	Managing director	28/06/2010	31/07/2007	1/10/2011	Active	NO
13	U24110AP1993PLC015533	ARCH FINECHEMICALS LIMITED	Director	29/09/2007	22/08/2007	-	Active	NO
14	U45200MH2007PLC175780	ARCH INFRA VENTURES LIMITED	Director	7/11/2007	7/11/2007	-	Active	NO
15	U24230MH2004PTC147388	BENZOCHEM LIFESCIENCES PRIVATE LIMITED	Director	10/7/2008	10/7/2008	12/3/2010	Active	NO
16	U24233MH2008PTC186600	ARISTO HERBOFARM PRIVATE LIMITED	Director	9/9/2008	9/9/2008	5/3/2009	Active	NO
17	U24233MH2008PTC186599	AIM HERBOFARM PRIVATE LIMITED	Director	9/9/2008	9/9/2008	5/3/2009	Active	NO
18	L24110AP1993PLC016112	AVON ORGANICS LIMITED	Director	29/09/2009	31/01/2009	-	Active	NO
19	U24239MH2011PLC213956	AMRA REMEDIES LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
20	U01403MH2011PTC218636	ARCH AGROCHEMICALS PRIVATE LIMITED	Director	14/06/2011	14/06/2011	-	Active	NO
21	U24100MH2011PLC223168	AMRA RENAL CARE LIMITED	Director	17/10/2011	17/10/2011	-	Active	NO

Name :	Mr. Mallikarjuna Reddy Tirumalareddy
Designation :	Vice Chairman
Address :	B-13, Madhura Nagar, S.R. Nagar P.O., Hyderabad-500038, Andhra Pradesh, India
Date of Birth/Age :	15.04.1960
Date of Appointment :	04.04.1993
DIN No. :	00298545

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	U24231MH1993PLC150891	ARCH PHARMALABS LIMITED	Whole-time director	1/10/2008	4/4/1993	Active	NO
2	U65993AP1995PTC019440	SAINATH INVESTMENTS PRIVATE LIMITED	Director	14/02/1995	14/02/1995	Active	NO
3	U99999AP1995PLC019510	PLANETWILDLIFE.COM (INDIA) LIMITED	Director	1/4/2010	21/02/1995	Active	NO
4	U85110KA1995PLC021495	ROSETTE AGRO-TECH LIMITED	Director	12/10/1995	12/10/1995	Active	NO
5	L01122AP1995PLC019311	ROSETTE AGRO-TECH LIMITED	Director	12/10/1995	12/10/1995	Dormant	NO
6	U51397AP1995PTC022674	SAINATH MEDICAL SYSTEMS PRIVATE LIMITED	Director	30/11/1998	30/11/1998	Active	NO
7	U45200AP2006PTC051039	MARM REALTY PRIVATE LIMITED	Director	1/9/2006	1/9/2006	Active	NO
8	U74900AP2008PTC059412	SAINATH HOSPITALITY PRIVATE LIMITED	Director	29/05/2008	29/05/2008	Active	NO

Name :	Mr. Rajendra Kumar Padmanabhan Kaimal
Designation :	Executive Director
Address :	Flat No. 1202, Sector R-3, C Wing, Orchid Enclave, Nahar’s Amrit Shakti, Chandivali, Andheri (East), Mumbai – 400072, Maharashtra, India
Date of Birth/Age :	23.06.1973
Date of Appointment :	01.11.2003
DIN No. :	00032839

Other Directorship:

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	U24231MH2000PLC129882	ARCH PHARMACHEM LIMITED	Director	29/07/2003	29/07/2003	-	Active	NO
2	U51900MH2000PTC127806	ARCH IMPEX PRIVATE LIMITED	Director	17/09/2003	17/09/2003	-	Active	NO
3	U24231MH1993PLC150891	ARCH PHARMALABS LIMITED	Whole-time director	1/11/2008	1/11/2003	-	Active	NO
4	U24239AP2003PLC042232	ARCH LIFE SCIENCES LIMITED	Director	2/4/2007	2/4/2007	-	Active	NO
5	U65190MH2007PTC171972	A M R INVESTMENTS PRIVATE LIMITED	Director	25/06/2007	25/06/2007	-	Active	NO
6	U24100MH2000PLC125507	NIPRO TUBE GLASS LIMITED	Director	31/07/2007	31/07/2007	24/05/2011	Active	NO
7	U24110AP1993PLC015533	ARCH FINECHEMICALS LIMITED	Director	29/09/2007	22/08/2007	-	Active	NO
8	U45200MH2007PLC175780	ARCH INFRA VENTURES LIMITED	Director	7/11/2007	7/11/2007	-	Active	NO
9	U24230MH2004PTC147388	BENZOCHEM LIFESCIENCES PRIVATE LIMITED	Director	10/7/2008	10/7/2008	12/3/2010	Active	NO
10	L24110AP1993PLC016112	AVON ORGANICS LIMITED	Additional director	31/01/2009	31/01/2009	1/8/2009	Active	NO
11	U24239MH2011PLC213956	AMRA REMEDIES LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
12	U01403MH2011PTC218636	ARCH AGROCHEMICALS PRIVATE LIMITED	Director	14/06/2011	14/06/2011	-	Active	NO
13	U24100MH2011PLC223168	AMRA RENAL CARE LIMITED	Director	17/10/2011	17/10/2011	-	Active	NO

Name :	Ms. Rajadhyaksha Vandana Makarand
Designation :	Nominee Director
Address :	301, 3^rd Floor, LAxmi Gopal Hatiskar Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India
Date of Birth/Age :	09.10.1971
Date of Appointment :	19.07.2007
DIN No. :	00164120

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	U92100MH2000PLC127832	CAFE NETWORK LIMITED	Director	29/06/2001	29/06/2001	27/06/2008	Active	YES
2	U57909DL2000PTC103931	WEBQUITY E-MARKETING PRIVATE LIMITED	Director	14/03/2002	14/03/2002	-	Strike off	NO
3	U24231MH1993PLC150891	ARCH PHARMALABS LIMITED	Nominee director	19/07/2007	19/07/2007	-	Active	NO
4	U34102DL1989PLC034982	SAINIK MINING AND ALLIED SERVICES LIMITED	Nominee director	5/6/2009	5/6/2009	-	Active	NO
5	U24230TN1980PLC008382	MALLADI DRUGS AND PHARMACEUTICALS LIMITED	Nominee director	30/09/2010	18/06/2010	-	Active	NO

Name :	Mr. Sunil Vasantrao Diwakar
Designation :	Nominee Director
Address :	C-002, Shreejiville, Opposite Nitin Company, Almeda Road, Panch Pakhadi, Thane (West), Mumbai – 400602, Maharashtra, India
Date of Birth/Age :	22.05.1963
Date of Appointment :	28.01.2008
DIN No. :		00089266

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	U92100MH2000PLC127832	CAFE NETWORK LIMITED	Director	29/06/2001	29/06/2001	27/06/2008	Active	YES
2	U57909DL2000PTC103931	WEBQUITY E-MARKETING PRIVATE LIMITED	Director	14/03/2002	14/03/2002	-	Strike off	NO
3	U24231MH1993PLC150891	ARCH PHARMALABS LIMITED	Nominee director	19/07/2007	19/07/2007	-	Active	NO
4	U34102DL1989PLC034982	SAINIK MINING AND ALLIED SERVICES LIMITED	Nominee director	5/6/2009	5/6/2009	-	Active	NO
5	U24230TN1980PLC008382	MALLADI DRUGS AND PHARMACEUTICALS LIMITED	Nominee director	30/09/2010	18/06/2010	-	Active	NO

Name :	Mr. Koppisetty Srinivas
Designation :	Nominee Director
Address :	Flat No. 304, Building No. 15, Mhada Residential Complex, Oshiwara, Andheri (West), Mumbai – 400053, Maharashtra, India
Date of Birth/Age :	17.05.1963
Date of Appointment :	19.12.2007
DIN No. :	00514607

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	U65999MH2002PTC134398	BTS INVESTMENT ADVISORS PRIVATE LIMITED	Director	4/7/2006	4/7/2006	-	Active	NO
2	U32200MH1999PLC121164	MICROQUAL TECHNO LIMITED	Nominee director	28/06/2007	28/06/2007	28/10/2010	Active	NO
3	U74900MH2007PTC169253	BELVOIR ADVISORS PRIVATE LIMITED	Director	29/06/2007	29/06/2007	5/10/2009	Active	NO
4	U74994MH1996PTC101050	RELIABLE AUTOTECH PRIVATE LIMITED	Director	16/07/2007	16/07/2007	18/05/2009	Active	NO
5	U24231MH1993PLC150891	ARCH PHARMALABS LIMITED	Nominee director	19/12/2007	19/12/2007	9/12/2010	Active	NO
6	U74899DL1993PLC056293	QAI (INDIA) LIMITED	Additional director	1/2/2008	1/2/2008	-	Active	NO
7	U34100MH1989PTC051360	RELIABLE TECHNOCRATS PRIVATE LIMITED	Director	11/2/2008	11/2/2008	18/05/2009	Active	NO
8	U28920PN1995PTC091232	MANTRI METALLICS PRIVATE LIMITED	Director	26/09/2008	7/3/2008	--	Active	NO
9	L24231CH1996PLC017755	PARABOLIC DRUGS LIMITED	Director	27/09/2008	30/04/2008	-	Active	NO
10	U45200AP2005PLC048258	SAI SUDHIR INFRASTRUCTURES LIMITED	Director	14/08/2008	5/8/2008	-	Active	NO
11	U05005AP1995PLC021217	OCEAN SPARKLE LIMITED	Nominee director	28/09/2009	21/03/2009	7/7/2010	Active	NO
12	U63090TN1994PTC027880	CARAVEL LOGISTICS PRIVATE LIMITED	Nominee director	27/07/2009	27/07/2009	-	Active	YES
13	U71110DL2000PTC189230	CARZONRENT (INDIA) PRIVATE LIMITED	Nominee director	10/6/2011	19/01/2011	-	Active	NO
14	U40108AP2010PLC067900	SAISUDHIR ENERGY LIMITED	Additional director	19/04/2011	19/04/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vikas B. Kedia
Designation :	Company Secretary and DGM Finance
Address :	Flat No. 201, C-Wing, Krishna Building, Vasant Sagar Complex, Thakur Village, Kandivali (East), Mumbai – 400101, Maharashtra, India
Date of Birth/Age :	08.07.1976
Date of Appointment :	26.12.2003
PAN No. :	AMZPK9885E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(As On 29.09.2010)

Names of Shareholders	No. of Shares
Ajit Annu Kamath	581967
Manoj Tejraj Jain	194061
Mallikarjuna Reddy Tirumalareddy	510
Rajendra Kumar Padmanabhan Kaimal	230000

(As On 29.09.2010)

Equity Shares Break Up	Percentage
Venture Capital	48.51
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	2.74
Bodies corporate	30.16
Directors or relatives of Directors	11.44
Other top fifty shareholders	4.75
Others	2.38
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Pharmaceutical Intermediates.

Products :

Item Code No.	Product Description
29159000	CMIC - Chloride
29159000	DICMIC - Chloride
29159000	FCMIC - Chloride

GENERAL INFORMATION

No. of Employees :

1500 (Approximately)

Bankers :

Punjab National Bank, Maker Towers, ‘E’, Ground Floor, Cuffe Parade, Mumbai-400005, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Debentures secured
Non-convertible debentures secured	100.000	200.000
Rupee term loans secured
Rupee term loans banks secured	9744.029	7951.114
Other debt secured	708.760	818.703
Interest accrued due secured loans
Interest accrued due other debt secured	0.000	31.528
Total	10552.789	9001.345
Notes: 1. Debentures – Non Convertible debentures referred in (a) of Schedule 3 are secured by subservient charge on the movable assets of the company and personnel guarantee of the Company’s Promoter Directors, Debentures are redeemable at par with the earliest redemption date being 28.02.2012. 2. Loan and Advances from Banks as referred to in Schedule 3 of the Secured loan which comprise of term loan, working capital, packing credit and other financial instruments, of which the Term loan of Rs. 5962.539 Millions secured by first pari - passu charge on the fixed assets, second pari – passu charge on the current and personal guarantee of the company’s promoter director. Working capital and other financial instruments of Rs. 3781.490 Millions are secured by first pari passu charge on the current assets and second pari passu charge of the fixed assets and personnel guarantee of the company’s promoter directors. 3. Includes Other Loan and Advances - Other Loan and Advances include hire purchase and are secured by hypothecation of specific vehicle (asset) financed by the respective bank. As regards the borrowing from Institutions which are secured by first pari – passu charge on the fixed assets, second pari – passu charge on the current and personnel guarantee of the company’s promoter director except Rs. 645.797 Millions (previous year Rs.676.065 Millions) which is secured by residual charge on the entire fixed assets and current assets of the company. 4. Includes Interest accrued and Due
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Debentures unsecured
Non-convertible debentures unsecured	0.000	100.000
Rupee term loans unsecured
Rupee term loans others unsecured	1.047	1.047
Working capital loans unsecured
Working capital loans banks unsecured	1899.492	2101.511
Deferred sales tax loan unsecured	53.373	56.956
Total	1953.912	2259.514
Note: From Others (Rs 1.046 Millions payable within one year)

Banking Relations :	--
Auditors :
Name 1 :	Nayak and Rane Chartered Accountants
Address:	501, Siddhivinayak Annexe, C – Wing, S.J. Marg, Lower Parel, Mumbai – 400013, Maharashtra, India
Pan No.:	AAHPR2232G
Name 2 :	Chaturvedi and Shah Chartered Accountants
Address :	714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India
Name :	Chartered Accountant
Pan No.:	AAAFC0662N
Subsidiaries :	Arch Life Sciences Limited U24239AP2003PLC042232 Arch Fine Chemicals Limited U24110AP1993PLC015533 Avon Organics Limited L24110AP1993PLC016112 · Arch Pharmalabs USA Inc. · Regal Pharma PTE Limited
Enterprises over which Key Managerial Personnel are able to exercises significant influence :	· Arch Impex Private Limited · Arch Pharmachem Limited · AMR Investments Private Limited · Sainath Investments Private Limited

CAPITAL STRUCTURE

After As On 29.09.2010

Authorised Capital : Rs.212.340 Millions

Issued, Subscribed & Paid-up Capital : Rs.212.340 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs. 400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
24784000	Equity Shares	Rs.10/- each	Rs. 247.840 Millions

Note:

4,00,00,000 Equity Shares of Rs. 10/- each

Issued, Subscribed And Paid Up 2,12,34,000 Equity Shares of Rs. 10/- each, fully paid up

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		247.840	212.340	212.300
2] Share Application Money		0.000	300.000	0.000
3] Reserves & Surplus		6530.279	4158.145	3649.400
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6778.119	4670.485	3861.700
LOAN FUNDS
1] Secured Loans		10552.789	9001.345	6730.200
2] Unsecured Loans		1953.912	2259.514	1818.700
TOTAL BORROWING		12506.701	11260.859	8548.900
DEFERRED TAX LIABILITIES		521.041	425.104	291.800
TOTAL		19805.861	16356.448	12702.400
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6489.766	5770.743	4608.900
Capital work-in-progress		1776.925	674.161	1172.200
INVESTMENT		492.435	492.435	717.900
DEFERREX TAX ASSETS		0.000	0.000	0.0000
Foreign Currency Monetary Item Translation Difference Account		0.000	0.672	5.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4497.449	3743.398	3109.400
	Sundry Debtors	5348.858	4771.513	3112.700
	Cash & Bank Balances	603.599	501.349	408.300
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	4100.101	2889.176	1682.200
Total Current Assets		14550.007	11905.436	8312.600
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1399.942	821.739	1089.600
	Other Current Liabilities	1990.273	1646.908	1010.900
	Provisions	113.057	18.352	13.700
Total Current Liabilities		3503.272	2486.999	2114.200
Net Current Assets		11046.735	9418.437	6198.400
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		19805.861	16356.448	12702.400

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	12779.003	10233.723	7133.300
		Other Income	88.000	64.474	20.700
		TOTAL (A)	12867.003	10298.197	7154.000
Less	EXPENSES
		Cost of Materials	0.000	0.000	4682.600
		Manufacturing and Other Expenses	774.254	520.379	1089.200
		Consumption Materials Changes Inventories	7734.596	6481.425	0.000
		Employee related expenses	683.626	534.957	0.000
		Administrative, selling and other expenses	92.080	72.969	0.000
		Research and development expenses	257.559	202.658	0.000
		TOTAL (B)	9542.115	7812.388	5771.800
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3324.888	2485.809	1382.200
Less	FINANCIAL EXPENSES (D)		1542.442	1312.429	596.400
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1782.446	1173.380	785.800
Less/ Add	DEPRECIATION/ AMORTISATION (F)		600.406	458.659	240.100
	PROFIT BEFORE TAX (E-F) (G)		1182.040	714.721	545.700
Less	TAX (H)		348.610	205.916	178.000
	PROFIT AFTER TAX (G-H) (I)		833.430	508.805	367.700
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1683.482	1138.581	855.400
Less	APPROPRIATIONS
		Debenture Redemption Reserve Account	(85.320)	(36.096)	84.500
	BALANCE CARRIED TO THE B/S		2602.232	1683.482	1138.600
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	4915.525	3474.213	1666.600
		Other Earnings	772.719	484.847	78.000
	TOTAL EARNINGS		5688.244	3959.060	1744.600
	IMPORTS
		Raw Materials	3471.313	2228.227	1469.100
		Capital Goods	50.618	5.329	63.900
	TOTAL IMPORTS		3521.931	2233.556	1533.000
	Earnings Per Share (Rs.)		36.20	23.96	17.31

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.48	4.94	5.14
Net Profit Margin (PBT/Sales)	(%)	9.25	6.98	7.65
Return on Total Assets (PBT/Total Assets}	(%)	5.62	4.04	4.22
Return on Investment (ROI) (PBT/Networth)		0.17	0.15	0.14
Debt Equity Ratio (Total Liability/Networth)		2.44	3.03	2.76
Current Ratio (Current Asset/Current Liability)		4.15	4.79	3.93

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Reports (Yes/No)
Year of Establishment	YES
Locality Of The Firm	YES
Constitution of the firm	YES
Premises Details	YES
Type of Business	YES
Line of Business	YES
Promotor’s background	--
No. of Employees	YES
Name of person contacted	YES
Designed of contact person	YES
Turnover of firm for last three years	YES
Profitability for last three years	NO
Reasons for variation <> 20%	--
Estimation for coming financial year	YES
Capital of the business	YES
Details of Sister Concern	YES
Major Suppliers	NO
Major Customers	NO
Payments Terms	YES
Export / Import details (if applicable)	YES
Market information	--
Litigation that the firm / promoter involved in	--
Banking details	YES
Banking facility details	NO
Conduct of the banking account	--
Buyer visit details	--
Financial, if provided	NO
Incorporation details, if applicable	--
Last accounts filed at ROC	--
Major Shareholders, if available	--

NOTE:

Registered office of the company has been shifted from H Wing, 4^th Floor, Tex Centre, Narayan Properties, Chandivali, Off Saki Vihar Road, Andheri (East), Mumbai – 400 072, Maharashtra, India to the present address w.e.f.03.02.2012.

CONTINGENT LIABILITIES

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010
- Guarantees given by banks	9.875	9.875
- Letter of Credits	1297.533	285.600
- Liability in respect of bills discounted	409.539	291.511
- Claim against the Company/disputed liabilities not acknowledged as debts	2.110	2.110
- Guarantees given for loan taken by Subsidiaries.	1045.000	1045.000

FORM 8

Corporate identity number of the company	U24231MH1993PLC150891
Name of the company	ARCH PHARMALABS LIMITED
Address of the registered office or of the principal place of business in India of the company	541/A, Arch House, Marol Maroshi Road, Marol, Andheri (East), Mumbai-400059, Maharashtra, India
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Others
Particular of charge holder	UCO Bank, Flagship Corportae Branch, 1st Floor, Mafatlal Centre, Nariman Point, Mumbai-400021, Maharashtra, India
Nature of instrument creating charge	Agreement/Deed for Working Capital and Hypothecation for Subservient Charge dated 30.01.2012
Date of instrument Creating the charge	30.01.2012
Amount secured by the charge	Rs. 1000.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Cash Credit: Base Rate(Floating)+ 3%p.a. ie.13.75%p.a. at present with monthly rests. Terms of repayment As per the instructions of the Bank. Margin Cash Credit: 25%on stocks and book debts(up to 90 days for domestic and 180 days for export receivables) Letter of Credit: 25% in form of FDR duly discharged in favour of the bank. Extent and operation of the charge Subservient charge on entire current assets and movable fixed assets (fixed assets other than land and building) of the Company.
Short particulars of the property charged (Including location of the property)	Subservient charge on entire current assets and movable fixed assets (fixed assets other than land and building) of the Company.

FIXED ASSETS

· Land

· Factory Building

· Office Premises

· Plant and Machinery

· Furniture and Fixtures

· Electrical Installation

· Computers

· Office Equipment

· Vehicles

WEB SITE DETAILS

PROFILE

They are a pharmaceutical company aligned across two business verticals viz. Products and Services. Their Products business comprises manufacture and sale of APIs and Intermediates to innovator and generic pharmaceutical players in both domestic and international markets including the regulated markets. They have evolved their business and have, over the years, extended from manufacturing APIs and Intermediates to add CRAMS to their offerings, which has significant potential for the growth of their business.

BOARD OF DIRECTORS

Ajit Kamath, aged 41 years, is the Executive Chairman and Managing Director of their Company and was first appointed as an Additional Director in their Company on January 1, 2001. He holds a Bachelors Degree in Commerce from the University of Mumbai and has more than 12 years of experience in the pharmaceutical industry. Prior to joining their Company he has worked with CEAT Financial Services Limited and was one of the promoters of Arch Commerz Private Limited, which reverse-merged into their Company pursuant to the Scheme of Rehabilitation. He has been instrumental in the acquisitions made by their Company since their acquisition of the Gurgaon Unit in December 2004. He has been involved and instrumental in planning and formulating the overall business strategy and developing business relations for their Company.

T Mallikarjuna Reddy, aged 50 years, is the Executive Vice-Chairman of their Company and was first appointed as an Additional Director in their Company on November 4, 1993. He holds a Masters Degree in Arts from the Andhra University. He has over 17 years experience in the pharmaceutical industry. He plays an active role in the operations of Company and reviews the functioning of their manufacturing facilities situated in Andhra Pradesh. He also assists in formulation of corporate policy and strategies for their Company. Prior to joining their Company he has worked with United India Insurance Company Limited.

Manoj Jain, aged 40 years, is the Deputy Managing Director and Chief Financial Officer of their Company and was first appointed as an Additional Director in their Company on January 1, 2001. He is a fellow member of the Institute of Chartered Accountants of India and also holds a Bachelors Degree in Commerce from the University of Mumbai. He was one of the promoters of Arch Commercial Private Limited, which reverse-merged into their Company pursuant to the Scheme of Rehabilitation and has more than 12 years of experience in the pharmaceutical industry. He has been instrumental in planning and formulating the overall business strategy of their Company. He is the Chief Financial Officer of their Company and is overall in-charge of the accounting and finance functions of their Company. He is also responsible for the statutory and secretarial affairs and the audit and taxation related activities of their Company. He is also instrumental in the formulation of corporate policy, strategic and perspective planning and external relations for their Company.

Rajendra Kaimal, aged 37 years, is the Executive Director of their Company and was first appointed as an Additional Director in their Company on November 1, 2003. He holds a Bachelors Degree in Commerce from the University of Mumbai. He has completed his Masters in Management Studies from Narsee Monjee Institute of Management Studies, Mumbai and is a Cost Accountant from the Institute of Cost and Works Accountants of India. He was one of the promoters of Arch Commerz Private Limited, which reverse-merged into their Company pursuant to the Scheme of Rehabilitation and has over 11 years of experience in the pharmaceutical industry. He is over-all in-charge of overseeing the commercial operations of their Company including purchase and export functions. He is also responsible for day-to-day co-ordination between all the manufacturing facilities of their Company.

Vandana Rajadhyaksha, aged 38 years, was appointed as a Nominee Director in their Company on behalf of ICICI Venture, acting as an investment manager to India Advantage Fund I, India Advantage Fund II, India Advantage Fund V and Rainbow Fund, pursuant to the terms of the Common Shareholders Agreement, with effect from July 19, 2007. She is a Metallurgical Engineer from Indian Institute of Technology, Mumbai and has also completed her Management Degree in Business Administration from the University of Pune. She has over 12 years of experience in the manufacturing, consulting and financial services sectors. She also has extensive experience in appraisal of projects in the e-business, retail, hospitality and financial services sectors and is a manager of their Company’s portfolio with ICICI Venture. Prior to joining ICICI Venture, she was associated with Tata Special Steels Limited for 3 years before spending a year with the consulting practice of KPMG.

Dr. Hira Sadhak, aged 60 years, is an Independent Director of their Company and was appointed as an Additional Director on December 9, 2010. He holds a Bachelor’s Degree in Economics from Calcutta University and a Master’s Degree in Economics from the University of Kalyani, West Bengal. He also holds a PhD in Industrial Finance from University of Pune. He has more than 30 years of experience in the financial services industry, financial sector research and management experiences in pension fund, mutual fund, life insurance and banking companies. He has in his career held various prestigious positions in the pension fund, mutual fund, life insurance and banking companies such as the managing director and chief executive officer of LIC Pension Fund Limited, joint general manager of LIC Mutual Fund and executive director with Life Insurance Corporation of India. He has been instrumental in drafting of key policies in his position as a member of Technical Committee on Accounting Policy for National Pension Scheme, Pension Fund Regulatory and Development Authority, Technical Advisory Group on Real Estate Price Index for India, Working Group on Household Savings, 10th and 11th Planning Commission and Working Group Fifth Economic Census, India.

Dr. Shailesh Mehta, aged 61 years, is an Independent Director on the Board of their Company and was appointed as an Additional Director in their Company on December 9, 2010. He holds a Degree in B.Tech. in mechanical engineering from Indian Institute of Technology, Mumbai and M.S. in Operations Research from Case Western Reserve University, USA. He also holds a PhD in Operation Research and Computer Science from Case Western Reserve University. He is the managing general partner of Granite Hill Capital Partners and is the president of Granite Hill Capital Ventures, a family asset management and advisory firm. He has served as the Chairman of the Board and CEO of Providian Financial Corporation (1986-2001) a Fortune 500 company, (currently part of JP Morgan-Chase). He has also served as operating general partner of West Bridge Capital (2001-2004) (now Sequoia India). He has also served as president and COO of Capital Holding.

Dr. Shantilal Jain, aged 48 years, is an Independent Director on the Board of their Company and was appointed as an Additional Director in their Company on January 24, 2011. He is a practicing physician and has completed his MBBS from Grant Medical College, Mumbai. He also holds a MD in General Medicine form Grant Medical College, Mumbai. He has more than 20 years of experience in the field of medicine. He has in his career authored various books and research papers and has been a faculty member at the YMT Medical College, Mumbai.

Puthenveetil J. Vincent, aged 66 years, is an Independent Director on the Board of their Company and was appointed as an Additional Director in their Company on December 9, 2010. He holds a Bachelor’s degree in Commerce from University of Calcutta. He has also completed a Management Development Programme from Indian Institute of Public Administration, New Delhi. He has more than three decades of experience in the field of higher financial management with the Government of India. He was a member of the Indian Civil Account Services (ICAS) and was responsible for expenditure control, internal audit of government departments, banks and financial institutions. In his career as an ICAS he has acted as a financial adviser to the Union Ministry of Finance and the Union Ministry of Home Affairs. He has also acted as the Chief Controller of Accounts, Union Ministry of Finance and as Controller of Aid Accounts and Audit (CAA and A), responsible for audit of external aid and monitoring, disbursement and accountant of foreign aid. He has also held senior positions as Financial Controller, Union Ministry of Civil Aviation and Tourism and Director (Finance) of Ministry of Surface Transport.

Ramakant Nayak, aged 65 years, is an Independent Director on the Board of their Company and was appointed as an Additional Director in their Company on January 24, 2011. He holds a Bachelor’s degree in Science from Karnataka University and Bachelor’s Degree in Law from University of Mumbai. He is also a member of Indian Banks Association Standing Committee of Private Sector Banks. He has, in his more than 40 years of experience in the commercial banking sector, held various prestigious positions in the banking industry such as the chairman and chief executive officer of the Lakshmi Vilas Bank Limited and managing director and chief executive officer of the Lord Krishna Bank Limited.

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.49.35
UK Pound	1	Rs.78.68
Euro	1	Rs.65.63

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		52

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.