MIRA INFORM REPORT

Report Date :

26.04.2013

IDENTIFICATION DETAILS

Name :	ALPHAMED FORMULATIONS PRIVATE LIMITED
Registered Office :	Survey No.225, Sampanbole Village, Shamirpet Mandal, Shamirpet, Hyderabad – 500 078, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	20.11.2006
Com. Reg. No.:	01-051732
Capital Investment / Paid-up Capital :	Rs.97.042 Millions
CIN No.: [Company Identification No.]	U24239AP2006PTC051732
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader and Supplier of Drugs, Medical Formulations, Tinctures, Extracts, Syrups, Tablets etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 470000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The financials are not made available with the Government Department for the year 2010-2011, 2011-2012. As per the financial of 2010, the profitability appears to be low. However, trade relations are reported to be fair. Business is active. Payments are unknown. The company can be considered for business dealings with great 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.

LOCATIONS

Registered Office/ Factory :	Survey No.225, Sampanbole Village, Shamirpet Mandal, Shamirpet, Hyderabad – 500 078, Andhra Pradesh, India
Tel. No.:	91-8418-274145/ 201608 91-40-23710180
Fax No.:	91-8418-274150
E-Mail :	snelakuditi@yahoo.com
Website :	www.alphamed.co.in

DIRECTORS

As on 26.09.2012

Name :	Dr. Gangula Shekhar Reddy
Designation :	Managing Director
Address :	F-70, Near Madhura Nagar, Hyderabad – 500 038, Andhra Pradesh, India
Date of Birth/Age :	25.06.1948
Date of Appointment :	01.01.2007
DIN No.:	01903160
PAN No.:	ADPPG7784D
Name :	Mr. Ashok Vasudevan
Designation :	Director
Address :	401, Vineyard Mist, 456A and B, Defence Colony, Sainik Puri, Secunderabad – 500 094, Andhra Pradesh, India
Date of Birth/Age :	30.01.1963
Date of Appointment :	20.11.2006
DIN No.:	01715971

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2012

Names of Shareholders	No. of Shares
G. Shekhar Reddy	1488225
Wisdom Holdings Pte Limited, Singapore	7860826
Y. Vijaya Lakshmi	1250000
Visnar Porfolio Investment Private Limited, India	1000000
G.B. Suresh	655000
G. Meena	420000
T. Neeraja	380000
G. Sunitha	210000
G. Hemalatha	200000
M. Rajavardhan	200000
Viren Khanna	104882
Total	13768933

As on 20.03.2013

Names of Allottee	No. of Shares
T. Neeraja	400000
Total	400000

As on 26.09.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	41.00
Bodies corporate	7.00
Directors or relatives of directors	52.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Trader and Supplier of Drugs, Medical Formulations, Tinctures, Extracts, Syrups, Tablets etc.

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Actual Production
Diltiazam	Kgs.	1256
Orlistat	Kgs.	230

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Balanagar Branch, Balanagar, Hyderabad – 500 037, Andhra Pradesh, India

Facilities :

Secured Loan	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
Term Loan from State Bank of India	55.600	58.702
Interest Accrued and Due on Term Loan	0.649	0.000
Working Capital from Bank (The Term Loan and Working Capital is secured by First Charge on Land, buildings, Plant and Machinery and other fixed assets, and stocks and receivables, both present and future.)	7.083	4.659
Vehicle Loan from Bank	2.355	0.885
Total	65.687	64.246

Banking Relations :	--
Auditors :
Name :	N. Satyanarayana Chartered Accountant
Address :	B-60,1^st Floor, H. No.8-3-222/F/26, Madhura Nagar, Hyderabad – 500 038, Andhra Pradesh, India
PAN No.:	ABEPN6231D

CAPITAL STRUCTURE

After 26.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14168933	Equity Shares	Rs.10/- each	Rs.141.689 Millions

As on 26.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
14000000	Equity Shares	Rs.10/- each	Rs.140.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13768933	Equity Shares	Rs.10/- each	Rs.137.689 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9704159	Equity Shares	Rs.10/- each	Rs.97.042 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		97.042	69.922	30.868
2] Share Application Money		17.347	27.119	8.402
3] Reserves & Surplus		3.134	1.158	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		117.523	98.199	39.270
LOAN FUNDS
1] Secured Loans		65.687	64.246	58.697
2] Unsecured Loans		28.378	0.700	0.000
TOTAL BORROWING		94.065	64.946	58.697
DEFERRED TAX LIABILITIES		0.512	0.070	0.000
TOTAL		212.100	163.215	97.967
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		191.384	150.890	78.522
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
Pre Operative Expenses		0.000	0.000	9.004
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.598	4.652	0.000
	Sundry Debtors	21.712	1.622	2.012
	Cash & Bank Balances	4.567	4.088	2.782
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	10.469	11.899	13.546
Total Current Assets		39.346	22.261	18.340
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.356	8.902	7.057
	Other Current Liabilities	3.853	1.014	0.876
	Provisions	0.442	0.047	0.000
Total Current Liabilities		18.651	9.963	7.933
Net Current Assets		20.695	12.298	10.407
MISCELLANEOUS EXPENSES		0.021	0.027	0.034
TOTAL		212.100	163.215	97.967

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	72.566	19.240	0.000
		Other Income	1.187	0.239	0.000
		TOTAL (A)	73.753	19.479	0.000
Less	EXPENSES
		Work in Process	3.386	(3.386)	0.000
		Material Consumed and manufacturing Expenses	26.610	3.941	0.000
		Salaries and Benefits to Employees	13.615	4.250	0.000
		Administrative and Other Expenses	8.585	3.983	0.000
		Preliminary Expenses Written Off	0.007	0.007	0.000
		TOTAL (B)	52.203	8.795	0.000
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		21.550	10.684	0.000
Less	FINANCIAL EXPENSES (D)		10.708	6.325	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		10.842	4.359	0.000
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.982	4.133	0.000
	PROFIT BEFORE TAX (E-F) (G)		2.860	0.226	0.000
Less	TAX (H)		0.884	0.117	0.000
	PROFIT AFTER TAX (G-H) (I)		1.976	0.109	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.109	0.000	0.000
	BALANCE CARRIED TO THE B/S		2.085	0.109	0.000
	Earnings Per Share (Rs.)		0.20	0.02	0.00

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.68	0.56	0.00
Net Profit Margin (PBT/Sales)	(%)	3.94	1.17	0.00
Return on Total Assets (PBT/Total Assets}	(%)	1.24	0.13	0.00
Return on Investment (ROI) (PBT/Networth)		0.02	0.00	0.00
Debt Equity Ratio (Total Debt/Networth)		0.80	0.66	1.49
Current Ratio (Current Asset/Current Liability)		2.11	2.23	2.31

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
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	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
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	No
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	Yes
33) Voter ID No of Proprietor/Partner/Director, if available	No
34) External Agency Rating, if available	No

Unsecured Loan	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
From Share Holders	28.378	0.700
Total	28.378	0.700

Note:

The registered office of the company has been shifted from A-8, Aiswarya Complex, Rukminipuri Colony, A.S. Rao Nagar, Hyderabad – 500 062, Andhra Pradesh to the present address w.e.f. 01.06.2009.

CONTINGENT LIABILITIES NOT PROVIDED FOR:

Particular	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
In respect of Guarantees issued by Bank	3.410	18.000

FIXED ASSETS:

· Land and Building

· Plant and Machinery

· Electrical Installation

· Office and Other Equipment

· Computers

· Furniture and Fixtures

· Vehicles

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 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 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.54.17
UK Pound	1	Rs.82.98
Euro	1	Rs.70.62

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.