MIRA INFORM REPORT

Report Date :

31.08.2013

IDENTIFICATION DETAILS

Name :	TRANSASIA BIO-MEDICALS LIMITED
Formerly Known As :	TRANSASIA BIO-MEDICALS PRIVATE LIMITED
Registered Office :	Transasia House, 8, Chandivali Studio Road, Mumbai – 400072, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	10.05.1985
Com. Reg. No.:	11-036198
Capital Investment / Paid-up Capital :	Rs. 40.000 Millions
CIN No.: [Company Identification No.]	U33110MH1985PLC036198
TAN No.: [Tax Deduction & Collection Account No.]	MUMT00342G / MUMT09181E
PAN No.: [Permanent Account No.]	AAACT2038C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing, Marketing, Importing and Exporting of Instruments for Measuring, Checking, Testing and Navigating.
No. of Employees :	800 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (64)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having a fine track record. The company has seen a slight increase in its sales turnover as well as net profitability during 2012. Financial and liquidity position appears to be sound and healthy. Trade relations are fair. Business is active. Payment terms are reported as regular and as per commitments. In view of strong promoter background and management expertise in the field of business, the company can be considered for good 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Cash Credit : AA-
Rating Explanation	High degree of safety and very low credit risk.
Date	April 2013

Rating Agency Name	ICRA
Rating	Fund based short term limits : A1+
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	April 2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY [GENERAL DETAILS]

Name :	Mr. Surendra
Designation :	Accounts Department
Contact No.:	91-22-40309642
Date :	30.08.2013

LOCATIONS

Registered/ Head Office :	Transasia House, 8, Chandivali Studio Road, Mumbai – 400072, Maharashtra, India
Tel. No.:	91-22-40309000/ 28575050/ 4040
Fax No.:	91-22-28573030
E-Mail :	transasia@transasia.co.in transasia@vsnl.com
Website :	http://www.transasia.co.in
Location :	Owned
Manufacturing Units :
Unit 1 :	47/6, Gelwad Falia, Dhabhel, Nani Daman – 396210, India
Unit 2 :	B/11, OIDC Ringanwada, Nani Daman – 396210, India
Unit 3 :	SDF-VI, Unit No. 162, SEEPZ, Andheri (East), Mumbai – 400096, Maharashtra, India
Unit 4 :	SDF-VI, Unit No. 161, SEEPZ, Andheri (East), Mumbai – 400096, Maharashtra, India
Unit 5 :	Khasra Nos. 542, 543, 544 and 545, Village Malpur, District Solan, Badddi – 173205, Himachal Pradesh, India
Regional Offices :	Located at: NORTH ZONE · New Delhi · Lucknow · Chandigarh · Jaipur EAST ZONE · Kolkata WEST ZONE · Mumbai · Pune · 116,Anand Mangal-III, Near Municipal School, Ellise Bridge, Ahmedabad-380006, Gujarat, India SOUTH ZONE · Bangalore · Chennai · Hyderabad · Cochin

DIRECTORS

AS ON 18.09.2012

Name :

Mr. Suresh Hassanand Vazirani

Designation :

Managing director

Address :

Flat No. 3C, Mittal Paradise, Opposite Mittal Park, Off General Mhatre Marg, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

15.07.1949

Qualification :

Diploma in Electrical Engineer

Experience :

25 Years

Date of Appointment :

03.12.2010

PAN No.:

AACPV8735D

DIN No.:

00122486

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U33110MH1985PLC036198	TRANSASIA BIO-MEDICALS LIMITED	Managing director	03/12/2010	10/05/1985	-	Active	NO
2	U33110MH1988PLC047094	TRANSASIA INSTRUMENTS LIMITED	Managing director	20/04/1988	20/04/1988	-	Active	NO
3	U33120MH1998PTC115943	SYSMEX INDIA PRIVATE LIMITED	Director	23/07/1998	23/07/1998	12/12/2008	Active	NO
4	U72100MH1999PTC120530	MCSOFT INFOTECH PRIVATE LIMITED	Managing director	25/06/1999	25/06/1999	-	Active	NO
5	U05000MH2003PLC080999	TAIPAN SEA FOODS LIMITED	Managing director	01/06/2007	01/06/2007	-	Active	NO
6	U93090MH2009PTC190680	SYSMEX TRANSASIA SERVICES PRIVATE LIMITED	Managing director	04/03/2009	04/03/2009	-	Active	NO

Name :

Mrs. Mala Suresh Vazirani

Designation :

Whole-time director

Address :

Flat No. 3C, Mittal Paradise, Opposite Mittal Park, Off General Mhatre Marg, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

13.08.1958

Date of Appointment :

03.12.2010

PAN No.:

ABZPV1190L

DIN No.:

00122711

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U33110MH1985PLC036198	TRANSASIA BIO-MEDICALS LIMITED	Whole-time director	03/12/2010	01/12/1986	Active	NO
2	U33110MH1988PLC047094	TRANSASIA INSTRUMENTS LIMITED	Director	20/04/1988	20/04/1988	Active	NO
3	U72100MH1999PTC120530	MCSOFT INFOTECH PRIVATE LIMITED	Director	25/06/1999	25/06/1999	Active	NO
4	U05000MH2003PLC080999	TAIPAN SEA FOODS LIMITED	Director	01/06/2007	01/06/2007	Active	NO

Name :

Mr. Francis Matthew

Designation :

Director

Address :

209-D, Sheetal Apartments, Seven Bunglows, Andheri (West), Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

10.07.1952

Date of Appointment :

01.12.1986

DIN No.:

00124796

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U33110MH1985PLC036198	TRANSASIA BIO-MEDICALS LIMITED	Director	01/12/1986	01/12/1986	-	Active	NO
2	U63040MH1990PTC056406	BUENAVISTA TRAVELS PRIVATE LIMITED	Director	03/05/1990	03/05/1990	-	Active	NO
3	U33110MH1988PLC047094	TRANSASIA INSTRUMENTS LIMITED	Director	21/01/2001	21/01/2001	-	Active	NO
4	U26109WB1956PTC007912	SG Catering Calcutta Private Limited	Director	17/05/2007	17/05/2007	08/04/2010	Active	NO
5	U05000MH2003PLC080999	TAIPAN SEA FOODS LIMITED	Director	01/06/2007	01/06/2007	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Surendra
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 18.09.2012

Names of Shareholders	No. of Shares
Suresh Hassanand Vazirani	3359225
Mala Suresh Vazirani	640725
Nikhil Suresh Vazirani	10
Vijay Parekh	10
Francis Matthew	10
Chandu P Sadarangani	10
Sunil H Vazirani	10
Total	4000000

AS ON 18.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing, Marketing, Importing and Exporting of Instruments for Measuring, Checking, Testing and Navigating.

Products/ Services :

ITC Code No.	Product Descriptions
90278000	Parameter Fully Automated Blood Cell Counter; Parameter Fully Automated Blood Cell Counter; Bio Chemistry Analyser EC 5 Plus V2

Exports :

Products :

Finished Goods

Countries :

· Italy

Germany

France

Imports :

Products :

Raw Materials

Countries :

· Australia

China

Turkey

Terms :

Selling :

L/C and Credit

Purchasing :

L/C and Credit

GENERAL INFORMATION

Customers :

End Users

· AIIMS-Delhi

· Escorts Heart Institute-Delhi

· R.R. Hospital-Delhi

· Batra Hospital-Delhi

· Diwanchand Metropolis- Delhi

· SGPGI-Lucknow

· RML Mehrotra Pathology-Lucknow

· Regency Hospital-Kanpur

· Woodlands Hospital – Kolkata

· Scientific Clinical Research Centre – Kolkata

· Advance Medical Research Institute – Kolkata

· Breach Candy Hospital – Mumbai

· Metropolis Laboratory – Mumbai

· Institute of Kidney Disease-Ahmedabad

· Toprani Advance Medical System-Baroda

· Manipal Hospital-Bangalore

· Vijaya Hospital-Chennai

· PRS Hospital - Thiruvanthapuram

No. of Employees :

800 (Approximately)

Bankers :

Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
SHORT-TERM BORROWINGS
Term loans from banks	344.362	333.898
Working capital loans from banks	551.729	198.379
Total	896.091	532.277
LONG TERM BORROWINGS Interest free Term loan of Rs 8.000 Millions from National Research Development Corporation under Ministry of Science and Tech., of Government of India, repayable in 5 (Five) equal yearly installment of Rs 1.600 Millions starting from 31st March 2012 Grant in the form of Term loan of Rs 14.000 Millions, out of which first installment of Rs 4.200 Millions received from Department of Biotechnology, Govt Of India (DBT) for funding support under the Biotechnology Industry Partnership Programmed (BIPP) of The DBT, repayable in 10 (ten) equal half yearly installments of Rs 1.400 Millions each starting from April 2015.

Banking Relations :	--
Auditors :
Name :	Talati and Talati Chartered Accountants
Address :	2nd and 3^rd Floor Ambica Chambers, Near Old High Court, Navrangpura, Ahmedabad – 380009, Gujarat, India
Income-tax PAN of auditor or auditor's firm :	AAAFT4520A
Subsidiary company :	Erba Diagnostics Mannheim GmbH
100% Subsidiary of Erba Diagnostics Mannheim GmbH :	· Diasis Diagnostik Sistemler Sanayive Ticaret Anonim Sirketi Erba Lachema s.r.o.
100% Subsidiary of Erba Lachema s.r.o. :	Lachema International
78% Subsidiary of Erba Diagnostics Mannheim GmbH :	Erba Diagnostics Inc
100% Subsidiary of Erba Diagnostics Inc :	· Delta Biologicals S.r.l. Diamedix Corporation Immuno Vision
Having common Directors with significant interest/influence :	· Transasia Instruments Limited McSoft Infotech Private Limited Taipan Sea Foods Limited Sysmex Transasia Services Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
4,000,000	Equity Shares	Rs. 10/- each	Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4,000,000	Equity Shares	Rs. 10/- each	Rs. 40.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	40.000	40.000
(b) Reserves & Surplus	4801.631	3922.353
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	4841.631	3962.353
(3) Non-Current Liabilities
(a) long-term borrowings	9.000	8.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	6.566	20.866
Total Non-current Liabilities (3)	15.566	28.866
(4) Current Liabilities
(a) Short term borrowings	896.572	532.331
(b) Trade payables	378.456	383.084
(c) Other current liabilities	484.257	475.680
(d) Short-term provisions	168.499	430.990
Total Current Liabilities (4)	1927.784	1822.085
TOTAL	6784.981	5813.304
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	464.695	411.587
(ii) Intangible Assets	7.747	7.747
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	626.120	534.616
(b) Non-current Investments	2551.931	1846.790
(c) Deferred tax assets (net)	8.223	24.641
(d) Long-term Loan and Advances	656.245	595.302
(e) Other Non-current assets	33.691	33.599
Total Non-Current Assets	4348.652	3454.282
(2) Current assets
(a) Current investments	10.000	15.000
(b) Inventories	694.997	573.251
(c) Trade receivables	1486.556	1263.575
(d) Cash and cash equivalents	81.950	31.151
(e) Short-term loans and advances	158.145	475.579
(f) Other current assets	4.681	0.466
Total Current Assets	2436.329	2359.022
TOTAL	6784.981	5813.304

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		40.000
2] Share Application Money		0.000
3] Reserves & Surplus		3009.034
4] (Accumulated Losses)		0.000
NETWORTH		3049.034
LOAN FUNDS
1] Secured Loans		257.661
2] Unsecured Loans		8.556
TOTAL BORROWING		266.217
DEFERRED TAX LIABILITIES		0.000
TOTAL		3315.251
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		328.771
Capital work-in-progress		137.339
INVESTMENT		1607.213
DEFERRED TAX ASSETS		8.225
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	499.489
	Sundry Debtors	999.716
	Cash & Bank Balances	29.525
	Other Current Assets	3.992
	Loans & Advances	644.135
Total Current Assets		2176.857
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	384.589
	Other Current Liabilities	224.261
	Provisions	334.304
Total Current Liabilities		943.154
Net Current Assets		1233.703
MISCELLANEOUS EXPENSES		0.000
TOTAL		3315.251

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	3564.390	3113.831	2542.046
		Other Income	127.930	93.284	80.924
		TOTAL (A)	3692.320	3207.115	2622.970
Less	EXPENSES
		Cost of materials consumed	542.419	376.300
		Purchases of stock-in-trade	1069.065	841.527	1700.155
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(152.454)	(0.984)
		Employee benefit expense	419.962	380.990
		Other expenses	537.948	467.578
		TOTAL (B)	2416.940	2065.411	1700.155
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1275.380	1141.704	922.815
Less	FINANCIAL EXPENSES (D)		89.497	40.172	14.773
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1185.883	1101.532	908.042
Less/ Add	DEPRECIATION/ AMORTISATION (F)		114.252	90.300	63.978
	PROFIT BEFORE TAX (E-F) (G)		1071.631	1011.232	844.064
Less	TAX (H)		145.864	86.292	68.293
	PROFIT AFTER TAX (G-H) (I)		925.767	924.940	775.771
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		3491.641	2670.816	2031.104
Less	APPROPRIATIONS
		Equity Dividend	40.000	10.000	50.000
		Tax on Distributed Income	6.489	1.622	8.497
		Transfer to General Reserve	92.576	92.493	77.562
	BALANCE CARRIED TO THE B/S		4278.343	3491.641	2670.816
	Earnings Per Share (Rs.)		231.44	231.24	193.90

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	25.07	28.84	29.58
Net Profit Margin (PBT/Sales)	(%)	30.06	32.48	33.20
Return on Total Assets (PBT/Total Assets}	(%)	29.78	29.68	33.69
Return on Investment (ROI) (PBT/Networth)		0.22	0.26	0.28
Debt Equity Ratio (Total Debt/Networth)		0.19	0.14	0.09
Current Ratio (Current Asset/Current Liability)		1.26	1.29	2.31

LOCAL AGENCY FURTHER INFORMATION

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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10440922	04/07/2013	200,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227 ,D, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	B81064768
2	10345344	05/03/2012	15,391,000.00	DEPARTMENT OF BIOTECHNOLOGY	6-8TH FLOOR, BLOCK NO. 2, CGO COMPLEX, LODHI ROAD, NEW DELHI - 110003, INDIA	B36198968
3	10072790	01/12/2011 *	420,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA	B27380906
4	10051810	21/10/2011 *	160,000,000.00	THE ROYAL BANK OF SCOTLAND N V	HANSALAYA BUILDING, 15, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA	B23831134
5	90215716	28/03/2001	50,000,000.00	ICICI BANK LIMITED	ICICI TOWERS, BANDRA KURLA, MUMBAI, MAHARASHTRA, INDIA	-
6	90215696	18/09/2000	118,000,000.00	ICICI BANK LIMITED	215, FREE PRESS HOUSE, NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA	-
7	90215401	25/09/1995 *	3,000,000.00	UNION BANK OF INDIA	INDUSL. FINANCE BRANCH, 239, VIDHAN BHAWAN; NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	-
8	90215300	16/10/1991	11,500,000.00	INDIAN BANK	210, MITTAL TOWERS, MUMBAI, MAHARASHTRA, INDIA	-
9	90215294	20/08/1991	169,800.00	INDIAN BANK	210, MITTAL TOWER, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	-
10	90215138	24/01/1988	3,375,000.00	INDIAN BANK	OSHIWARA BRANCH, MUMBAI - 400008, MAHARASHTRA, INDIA	-

* Date of charge modification

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
LONG-TERM BORROWINGS
Borrowing from government semi-government bodies	9.000	8.000
SHORT-TERM BORROWINGS
Loans and advances from directors	0.481	0.054
Total	9.481	8.054

OPERATIONS AND PERFORMANCE REVIEW

The company has continued on its growth path registering an increase in the overall turnover by 14.47% and Profit before Tax 5.97%. the company continues to hold for yet another year a major market share in market segments like Haematology, Biochemistry (Routine Chemistry Reagents) and Critical Care Electrolytes.

CONTINGENT LIABILITIES:

Particulars	31.03.2012	31.03.2011
	(Rs. in Millions)
Corporate guarantees issued by the Company to certain banks on behalf of some of its subsidiaries	1136.235	901.695
Claims against the Company not acknowledged as debts	16.169	13.890
Total	1152.404	915.585

FIXED ASSETS:

· Land

Buildings

Other building

Plant and equipment

Other plant and equipment

Furniture and fixtures

Vehicles

Motor vehicles

Office equipment

Computer equipments

Other equipments

PRESS RELEASES:

TRANSASIA BIO-MEDICALS LIMITED, INDIA'S LARGEST IVD COMPANY ACQUIRES MAXMAT
S. A., FRANCE

Transasia Bio-Medicals Limited, (Transasia) - India's largest IVD company and recipient of various prestigious national and state level awards, announces its acquisition of Maxmat S.A based at Montpellier, France - a company specializing in conception, design, development and manufacturing of automated analyzers and reagents in the field of Clinical Chemistry, Hemostasis and Immunology, through its Czech subsidiary Erba Lachema.

Incepted in the year 1979, Transasia Bio-Medicals Limited, is headquartered in Mumbai, India. It is one of India's largest In Vitro Diagnostics Company offering solutions and products in Biochemistry, Hematology, Coagulation, ESR, Immunology, Urinalysis, Critical Care, Electrophoresis, Molecular Diagnostics, Diabetes Management and Microbiology.

Maxmat S. A, will be eventually rechristened as Erba Diagnostics France S.A.R.L.. Erba Diagnostics France will benefit the entire Group with its capabilities and know how in the field of design and development of analyzers which perform multiple functions in a laboratory spanning different segments of biochemistry, hemostasis and immunology. Amongst its product-line is a revolutionary multi-analyzer that can conduct hundreds of different biochemistry, coagulation and immunology tests on a sample.

This would be the fourth acquisition made by Transasia Bio-Medicals Limited in the last three years. Earlier acquisitions have been made in USA, Italy, Czech and Turkey. Erba has acquired the entire business assets of the company along with plant and intellectual assets of the company in the form of patents and other proprietary know how. Erba has also decided to retain the entire management team.

The acquisition will help in shrinking development timelines, for new advanced technologies and to fulfill the needs of diagnostic laboratories worldwide. Erba Diagnostics, France (formerly Maxmat S.A) will also improve the Group's presence in the French market and French speaking North African countries.

Mr. Suresh Vazirani, Chairman and Managing Director, Transasia Bio-Medicals Limited, stated that "We are excited about the new opportunities that are offered by this strategic acquisition. This acquisition will strengthen the Group's plans to emerge as a global leader in IVD."

Furthermore, Erba Group and Erba Diagnostics France (formerly Maxmat S.A) have drawn up growth plans based on achieving economies of scale, creating synergy through intra-Group co-ordination, widening product offering and strengthening its after sales service support and distribution network.

Transasia - Erba continues in its mission to help doctors and patients worldwide, in meeting their needs for reliable, affordable and innovative medical diagnostic systems.

TRANSASIA ANNOUNCES EXCLUSIVE PARTNERSHIP WITH INTEC PRODUCTS, INC. FOR RAPID DIAGNOSTIC TESTS

Transasia has established an exclusive arrangement with InTec for Rapid Diagnostic Tests (RDTs) under their direct brand of Advanced Quality and OEM brand of INSTACHK (from Transasia) and QUICKCHEK (from Morepen).

Transasia, in association with InTec is committed to provide the best diagnostic tools to Indian masses for reliable testing.

Under this agreement, Transasia will exclusively market one step, qualitative, immunochromatography device tests that help in the detection of Critical Infectious parameters like HIV, Hepatitis B and Hepatitis C in human serum, plasma or whole blood.

Each lot of these rapid tests is being screened at the National Institute of Biologicals (NIB), Noida to ensure total quality for our customers.

InTec PRODUCTS INC., China is one of the leading ISO 13485 certified companies for IVD that follows all norms of Good Manufacturing Practices for Rapid screening tests.

InTec’s customer oriented outlook is in complete synergy with Transasia’s pursuit of Excellence through Innovation for Indian customers.

These products will definitely provide our customers an edge in Rapid Diagnostics.

The following are the tests under INSTACHK Brand. 

· INSTACHK HIV 1+2

INSTACHK Hepatitis B

INSTACHK Hepatitis C

INSTACHK TP

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. 66.57
UK Pound	1	Rs. 103.34
Euro	1	Rs. 88.16

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		64

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.