MIRA INFORM REPORT

Report Date :

25.02.2013

IDENTIFICATION DETAILS

Name :	NARCISSUS MEDICAL CENTRE PRIVATE LIMITED
Registered Office :	12, Dr. G. C. Goswami Street, Serampore, Hooghly – 712201, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	20.12.1993
Com. Reg. No.:	21-061175
Capital Investment / Paid-up Capital :	Rs.8.852 Millions
CIN No.: [Company Identification No.]	U85110WB1993PTC061175
PAN No.: [Permanent Account No.]	AABCN0607J
Legal Form :	Private Limited Liability Company
Line of Business :	Organised Retail and Diagnostic Centre.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payment terms are usually correct. The company can be considered 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 – 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	Mr. Manoj Agarwal
Designation :	Auditor
Contact No.:	91-33-26527946
Date :	14.02.2013

LOCATIONS

Registered Office :	12, Dr. G. C. Goswami Street, Serampore, Hooghly – 712201, West Bengal, India
Tel. No.:	91-33-26623491
Mobile No.:	91-9831274862 (Dr. Sujit Bishoyi)
Fax No.:	91-33-26627371
E-Mail :	narcissus.medical@gmail.com smdc1@vsnl.net
Location :	Owned

DIRECTORS

(AS ON 29.09.2012)

Name :	Mr. Sujit Kumar Bishayi
Designation :	Managing Director
Address :	12, Dr. G C Goswami, Street, Serampore Hooghly – 712201, West Bengal, India
Date of Birth/Age :	08.06.1963
Date of Appointment :	20.12.1993
Voter ID No.:	WB/26/180/033460
DIN No.:	00566685
Name :	Mr. Sumit Kumar Bishayi
Designation :	Director
Address :	12, Dr. G C Goswami, Street, Serampore Hooghly – 712201, West Bengal, India
Date of Birth/Age :	19.10.1963
Date of Appointment :	20.12.1993
Voter ID No.:	WB/26/180/033461
DIN No.:	00570483
Name :	Mrs. Bani Bishayee
Designation :	Director
Address :	12, Dr. G C Goswami, Street, Serampore Hooghly – 712201, West Bengal, India
Date of Birth/Age :	07.01.1944
Date of Appointment :	01.02.1999
Voter ID No.:	WB/26/180/034459
DIN No.:	00570379
Name :	Mr. Arupama Bishayi
Designation :	Director
Date of Appointment :	01.03.2012
DIN No.:	05221986
Name :	Mrs. Suchitra Bishayi
Designation :	Director
Date of Appointment :	01.03.2012
DIN No.:	05222000
Name :	Mr. Kashiswar Prasad Bishayee
Designation :	Director
Date of Appointment :	01.03.2012
DIN No.:	05222011

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2012)

Names of Shareholders (Equity Shares)	No. of Shares
Sujit Kumar Bishayi	20100
Sumit Kumar Bishayi	18250
Bani Bishayee	6670
Arupama Bishayi	1000
Suchitra Bishayi	2500
Kashiswar Prasad Bishayee	5000
Total	53520
Note: Preference shares details are not available.

(AS ON 30.09.2012)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Organised Retail and Diagnostic Centre.

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

Not Available

Bankers :

· Bank of India, (Current Account)

Sreerampur Branch, India

· HDFC Bank, (Current Account)

· United Bank of India, (Overdraft Limit)

· Axis Bank

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Term Loans
-From Banks	38.753	12.022
Loan Repayable on Demand
From Bank	3.446	17.570
Total	42.199	29.592
Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Loans from Director	2.951	3.594
Total	2.951	3.594

Banking Relations :	--
Financials Institute :	· Reliance Capital Limited ‘H’ Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, Maharashtra, India
Auditors :
Name :	Manoj H. Agarwala and Associates Chartered Accountant
Address :	102, Alokalaya, Ground Floor, 102, N. S. Avenue, Sermpore, Hoogly – 712201, West Bengal, India
Tel. No.:	91-33-26527946
PAN No.:	AFGPA8057E
E-Mail :	manoja_ca@yahoo.co.in
Associates/Subsidiaries :	Sreerampur Medical and Diagnostic Centre.

CAPITAL STRUCTURE

(AS ON 29.09.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
70000	Equity Shares	Rs.100/- each	Rs.7.000 Millions
50000	Preference Shares	Rs.100/- each	Rs.5.000 Millions
	Total		Rs.12.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
53520	Equity Shares	Rs.100/- each	Rs.5.352 Millions
35000	Preference Shares	Rs.100/- each	Rs.3.500 Millions
	Total		Rs.8.852 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

CONSOLIDATED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		8.852	0.852	0.852
2] Share Application Money		0.000	3.650	0.150
3] Reserves & Surplus		18.325	12.793	7.401
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		27.177	17.295	8.403
LOAN FUNDS
1] Secured Loans		42.199	29.592	22.376
2] Unsecured Loans		2.951	3.594	7.855
TOTAL BORROWING		45.150	33.186	30.231
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		72.327	50.481	38.634
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		27.068	28.340	23.588
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		7.746	1.198	0.365
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	22.861	17.768	6.226
	Sundry Debtors	0.567	0.000	0.001
	Cash & Bank Balances	17.964	4.763	4.270
	Other Current Assets	0.049	0.079	2.311
	Loans & Advances	2.657	2.982	2.968
Total Current Assets		44.098	25.592	15.776
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	1.935	1.739	0.202
	Other Current Liabilities	2.606	1.542	0.487
	Provisions	2.044	1.368	0.516
Total Current Liabilities		6.585	4.649	1.205
Net Current Assets		37.513	20.943	14.571
MISCELLANEOUS EXPENSES		0.000	0.000	0.110
TOTAL		72.327	50.481	38.634

CONSOLIDATED PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from Operations	103.969	70.276	33.472
		Other Income	1.677	2.734	17.640
		TOTAL (A)	105.646	73.010	51.112
Less	EXPENSES
		Purchases of Stock-in-trade and consumables Goods and Stores	77.764	60.213
		Changes in Inventories of consumables Good and Stores and Stock-in-trade	(5.093)	(11.541)	42.269
		Employee Benefit Expenses	4.673	3.224
		Other Administrative Expenses	10.349	8.293
		TOTAL (B)	87.693	60.189	42.269
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		17.953	12.821	8.843
Less	FINANCIAL EXPENSES (D)		8.626	4.484	4.430
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		9.327	8.337	4.413
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.712	1.564	1.155
	PROFIT BEFORE TAX (E-F) (G)		7.615	6.773	3.258
Less	TAX (H)		2.044	1.381	0.517
	PROFIT AFTER TAX (G-H) (I)		5.571	5.392	2.741
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		12.793	7.401	4.660
Less	APPROPRIATIONS
		Preference Dividend	0.039	0.000	0.000
	BALANCE CARRIED TO THE B/S		18.325	12.793	7.401
	Earnings Per Share (Rs.)		104.10	632.75	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.27	7.39	5.36
Net Profit Margin (PBT/Sales)	(%)	7.32	9.64	9.73
Return on Total Assets (PBT/Total Assets}	(%)	10.70	12.56	8.28
Return on Investment (ROI) (PBT/Networth)		0.28	0.39	0.39
Debt Equity Ratio (Total Debt/Networth)		1.66	1.92	3.60
Current Ratio (Current Asset/Current Liability)		6.70	5.50	13.09

------------------------------------------------------------------------------------------------------------------------------

UNIT: DIAGNOSTIC DIVISION

BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		8.852	0.852	0.852
2] Share Application Money		0.000	3.650	0.150
3] Reserves & Surplus		18.325	12.793	7.401
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		27.177	17.295	8.403
LOAN FUNDS
1] Secured Loans		25.774	11.444	10.892
2] Unsecured Loans		2.486	3.397	6.596
TOTAL BORROWING		28.260	14.841	17.488
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		55.437	32.136	25.891
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.758	11.597	7.068
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		30.325	17.930	16.389
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.144	0.059	0.018
	Sundry Debtors	0.000	0.000	0.001
	Cash & Bank Balances	14.781	3.778	1.902
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.968	0.879	1.163
Total Current Assets		16.893	4.716	3.084
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.032	0.047
	Other Current Liabilities	0.495	0.707	0.087
	Provisions	2.044	1.368	0.516
Total Current Liabilities		2.539	2.107	0.650
Net Current Assets		14.354	2.609	2.434
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		55.437	32.136	25.891

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from Operations	20.448	15.850	14.666
		Other Income	0.590	0.536	0.437
		TOTAL (A)	21.038	16.386	15.103
Less	EXPENSES
		Purchases of Stock-in-trade and consumables Goods and Stores	1.552	0.975
		Changes in Inventories of consumables Good and Stores and Stock-in-trade	(0.084)	(0.041)
		Employee Benefit Expenses	3.598	2.586
		Other Administrative Expenses	6.794	4.841
		TOTAL (B)	11.860	8.361	8.350
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		9.178	8.025	6.753
Less	FINANCIAL EXPENSES (D)		5.259	2.679	3.211
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.919	5.346	3.542
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.246	1.129	0.813
	PROFIT BEFORE TAX (E-F) (G)		2.673	4.217	2.729
Less	TAX (H)		0.000	0.000	0.516
	PROFIT AFTER TAX (G-H) (I)		2.673	4.216	2.213

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	12.71	25.74	14.65
Net Profit Margin (PBT/Sales)	(%)	13.07	26.61	18.61
Return on Total Assets (PBT/Total Assets}	(%)	9.67	25.85	26.88
Return on Investment (ROI) (PBT/Networth)		0.10	0.24	0.32
Debt Equity Ratio (Total Debt/Networth)		1.04	0.86	2.08
Current Ratio (Current Asset/Current Liability)		6.65	2.24	4.74

------------------------------------------------------------------------------------------------------------------------------

UNIT: CITI CHOICE

BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		22.537	14.314	15.495
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4.942	2.557	0.528
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		27.479	16.871	16.023
LOAN FUNDS
1] Secured Loans		16.425	18.149	11.483
2] Unsecured Loans		0.465	0.198	1.259
TOTAL BORROWING		16.890	18.347	12.742
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		44.369	35.218	28.765
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		16.311	16.745	16.520
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.900	0.140	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	22.717	17.708	6.209
	Sundry Debtors	0.566	0.000	0.000
	Cash & Bank Balances	3.182	0.984	2.367
	Other Current Assets	0.049	0.079	0.110
	Loans & Advances	0.690	2.104	4.116
Total Current Assets		27.204	20.875	12.802
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	1.935	1.707	0.156
	Other Current Liabilities	2.111	0.835	0.401
	Provisions	0.000	0.000	0.000
Total Current Liabilities		4.046	2.542	0.557
Net Current Assets		23.158	18.333	12.245
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		44.369	35.218	28.765

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from Operations	83.521	54.425	33.472
		Other Income	1.087	2.198	2.536
		TOTAL (A)	84.608	56.623	36.008
Less	EXPENSES
		Purchases of Stock-in-trade and consumables Goods and Stores	76.212	59.238
		Changes in Inventories of consumables Good and Stores and Stock-in-trade	(5.008)	(11.500)	33.920
		Employee Benefit Expenses	1.074	0.639
		Other Administrative Expenses	3.555	3.450
		TOTAL (B)	75.833	51.827	33.920
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		8.775	4.796	2.088
Less	FINANCIAL EXPENSES (D)		3.367	1.804	1.218
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.408	2.992	0.870
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.466	0.435	0.342
	PROFIT BEFORE TAX (E-F) (G)		4.942	2.557	0.528
Less	TAX (H)		0.000	0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		4.942	2.557	0.528

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.84	4.52	1.47
Net Profit Margin (PBT/Sales)	(%)	5.92	4.70	1.58
Return on Total Assets (PBT/Total Assets}	(%)	11.36	6.80	1.80
Return on Investment (ROI) (PBT/Networth)		0.18	0.15	0.03
Debt Equity Ratio (Total Debt/Networth)		0.61	1.09	0.80
Current Ratio (Current Asset/Current Liability)		6.72	8.21	22.98

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	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
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	No
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

------------------------------------------------------------------------------------------------------------------------------

CONSOLIDATED BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.12.2012	31.03.2013	31.03.2014	31.03.2015
		(Provisional)	(Estimated)	(Projected)	(Projected)
SHAREHOLDERS FUNDS
1] Share Capital		8.852	8.852	8.852	8.852
2] Share Application Money		0.000	0.000	0.000	0.000
3] Reserves & Surplus		23.345	24.138	36.243	51.008
4] (Accumulated Losses)		0.000	0.000	0.000	0.000
NETWORTH		32.197	32.990	45.095	59.860
LOAN FUNDS
1] Secured Loans		51.761	68.650	98.800	92.200
2] Unsecured Loans		0.873	3.500	7.000	7.000
TOTAL BORROWING		52.634	72.150	105.800	99.200
DEFERRED TAX LIABILITIES		0.000	0.000	0.000	0.000
TOTAL		84.831	105.140	150.895	159.060
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		28.043	74.206	72.566	69.605
Capital work-in-progress		0.000	0.000	0.000	0.000
INVESTMENT		20.503	10.241	3.422	8.600
DEFERREX TAX ASSETS		0.000	0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	39.338	22.725	77.750	84.270
	Sundry Debtors	0.146	0.250	0.400	0.445
	Cash & Bank Balances	4.801	0.214	0.510	0.371
	Other Current Assets	0.000	0.000	0.000	0.000
	Loans & Advances	3.008	2.922	5.210	6.820
Total Current Assets		47.293	26.111	83.870	91.906
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	5.484	0.250	0.645	0.700
	Other Current Liabilities	3.669	2.868	5.446	6.085
	Provisions	1.855	2.300	4.650	5.600
Total Current Liabilities		11.008	5.418	10.741	12.385
Net Current Assets		36.285	20.693	73.129	79.521
MISCELLANEOUS EXPENSES		0.000	0.000	1.778	1.334
TOTAL		84.831	105.140	150.895	159.060

CONSOLIDATED PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2012	31.03.2013	31.03.2014	31.03.2015
			(Provisional)	(Estimated)	(Projected)	(Projected)
	SALES
		Income	76.581	100.000	275.000	305.000
		Other Income	20.085	26.416	27.976	30.284
		TOTAL (A)	96.666	126.416	302.976	335.284
Less	EXPENSES
		Cost of Goods Sold	65.764	86.017	237.300	263.500
		Reporting Fees	3.488	4.500	4.775	5.150
		Salary, Wages and Bonus	2.234	2.700	4.071	4.400
		Medicine and Consumables Stores	1.644	2.050	2.175	2.300
		Electric Charges	1.576	2.125	3.325	3.600
		Repairing and Maintenance	2.249	2.805	2.648	2.845
		Advertisement	1.036	1.295	2.410	2.885
		Director Remuneration	2.361	2.750	3.000	3.250
		Preliminary Expenses Written off	0.049	0.049	0.445	0.445
		Other expenses	3.586	4.780	11.901	12.093
		TOTAL (B)	83.987	109.071	272.050	300.468
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		12.679	17.345	30.926	34.816
Less	FINANCIAL EXPENSES (D)		4.434	6.950	10.070	10.145
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		8.245	10.395	20.856	24.671
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.378	1.845	3.656	3.861
	PROFIT BEFORE TAX (E-F) (G)		6.867	8.550	17.200	20.810
Less	TAX (H)		1.855	2.745	5.095	6.045
	PROFIT AFTER TAX (G-H) (I)		5.012	5.805	12.105	14.765
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		18.333	18.333	24.138	36.243
	BALANCE CARRIED TO THE B/S		23.345	24.138	36.243	51.008

------------------------------------------------------------------------------------------------------------------------------

UNIT: DIAGNOSTIC DIVISION

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.12.2012	31.03.2013	31.03.2014	31.03.2015
		(Provisional)	(Estimated)	(Projected)	(Projected)
SHAREHOLDERS FUNDS
1] Share Capital		8.852	8.852	8.852	8.852
2] Share Application Money		0.000	0.000	0.000	0.000
3] Reserves & Surplus		23.345	24.138	36.243	51.008
4] (Accumulated Losses)		0.000	0.000	0.000	0.000
NETWORTH		32.197	32.990	45.095	59.860
LOAN FUNDS
1] Secured Loans		26.396	53.650	16.050	13.450
2] Unsecured Loans		0.608	3.500	7.000	7.000
TOTAL BORROWING		27.004	57.150	23.050	20.450
DEFERRED TAX LIABILITIES		0.000	0.000	0.000	0.000
TOTAL		59.201	90.140	68.145	80.310
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		11.779	58.050	10.416	9.242
Capital work-in-progress		0.000	0.000	0.000	0.000
INVESTMENT		46.092	32.168	58.298	70.938
DEFERREX TAX ASSETS		0.000	0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.188	0.225	0.250	0.270
	Sundry Debtors	0.000	0.000	0.000	0.000
	Cash & Bank Balances	0.941	0.168	0.154	0.253
	Other Current Assets	0.000	0.000	0.000	0.000
	Loans & Advances	2.246	2.199	4.132	5.687
Total Current Assets		3.375	2.592	4.536	6.210
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.034	0.025	0.045	0.050
	Other Current Liabilities	0.156	0.345	0.410	0.430
	Provisions	1.855	2.300	4.650	5.600
Total Current Liabilities		2.045	2.670	5.105	6.080
Net Current Assets		1.330	(0.078)	(0.569)	0.130
MISCELLANEOUS EXPENSES		0.000	0.000	0.000	0.000
TOTAL		59.201	90.140	68.145	80.310

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2012	31.03.2013	31.03.2014	31.03.2015
			(Provisional)	(Estimated)	(Projected)	(Projected)
	SALES
		Income	18.813	23.990	25.801	27.681
		Other Income	0.833	1.445	0.800	0.859
		TOTAL (A)	19.646	25.435	26.601	28.540
Less	EXPENSES
		Cost of Goods Sold	(0.044)	(0.081)	(0.025)	(0.020)
		Reporting Fees	3.488	4.500	4.775	5.150
		Salary, Wages and Bonus	1.230	1.575	1.700	1.825
		Medicine and Consumables Stores	1.644	2.050	2.175	2.300
		Electric Charges	0.683	0.875	0.925	1.000
		Repairing and Maintenance	1.692	2.175	2.300	2.450
		Advertisement	0.110	0.145	0.160	0.185
		Director Remuneration	2.361	2.750	3.000	3.250
		Preliminary Expenses Written off	0.000	0.000	0.000	0.000
		Other expenses	2.011	2.566	2.962	2.906
		TOTAL (B)	13.175	16.636	17.997	19.066
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.471	8.799	8.854	9.474
Less	FINANCIAL EXPENSES (D)		2.985	4.250	3.500	3.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.486	4.549	5.354	6.474
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.041	1.399	1.454	1.474
	PROFIT BEFORE TAX (E-F) (G)		2.445	3.150	3.900	5.000
Less	TAX (H)		1.855	2.745	5.095	6.045
	PROFIT AFTER TAX (G-H) (I)		0.590	0.405	(1.195)	(1.045)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		18.333	18.333	24.138	36.243
	Net Profit Citi Choise Division		4.422	5.400	13.300	15.810
	BALANCE CARRIED TO THE B/S		23.345	24.138	36.243	51.008

------------------------------------------------------------------------------------------------------------------------------

UNIT: CITI CHOICE

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.12.2012	31.03.2013
		(Provisional)	(Estimated)
SHAREHOLDERS FUNDS
1] Share Capital		26.228	16.528
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		4.422	5.400
4] (Accumulated Losses)		0.000	0.000
NETWORTH		30.650	21.928
LOAN FUNDS
1] Secured Loans		25.365	15.000
2] Unsecured Loans		0.265	0.000
TOTAL BORROWING		25.630	15.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		56.280	36.928
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		16.264	16.156
Capital work-in-progress		0.000	0.000
INVESTMENT		5.060	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	39.150	22.500
	Sundry Debtors	0.146	0.250
	Cash & Bank Balances	3.860	0.046
	Other Current Assets	0.000	0.000
	Loans & Advances	0.763	0.724
Total Current Assets		43.919	23.520
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	5.450	0.225
	Other Current Liabilities	3.513	2.523
	Provisions	0.000	0.000
Total Current Liabilities		8.963	2.748
Net Current Assets		34.956	20.772
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		56.280	36.928

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2012	31.03.2013
			(Provisional)	(Estimated)
	SALES
		Income	76.581	100.000
		Other Income	0.393	0.900
		TOTAL (A)	76.974	100.900
Less	EXPENSES
		Cost of Goods Sold	65.764	86.017
		Reporting Fees	0.000	0.000
		Salary, Wages and Bonus	1.004	1.125
		Medicine and Consumables Stores	0.000	0.000
		Electric Charges	0.195	0.225
		Repairing and Maintenance	0.557	0.630
		Advertisement	0.926	1.150
		Director Remuneration	0.000	0.000
		Preliminary Expenses Written off	0.049	0.049
		Other expenses	2.272	3.158
		TOTAL (B)	70.767	92.354
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.207	8.546
Less	FINANCIAL EXPENSES (D)		1.448	2.700
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4.759	5.846
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.337	0.446
	NET PROFIT TRANSFERRED TO HEAD OFFICE ACCOUNT (E-F) (G)		4.422	5.400

------------------------------------------------------------------------------------------------------------------------------

UNIT: CITI CHOICE – SERAMPORE

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2014	31.03.2015
		(Projected)	(Projected)
SHAREHOLDERS FUNDS
1] Share Capital		19.528	20.528
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		7.000	8.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		26.528	28.528
LOAN FUNDS
1] Secured Loans		15.000	15.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		15.000	15.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		41.528	43.528
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		15.869	15.747
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	27.500	30.000
	Sundry Debtors	0.275	0.300
	Cash & Bank Balances	0.177	0.047
	Other Current Assets	0.000	0.000
	Loans & Advances	0.754	0.769
Total Current Assets		28.706	31.116
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.250	0.275
	Other Current Liabilities	2.797	3.060
	Provisions	0.000	0.000
Total Current Liabilities		3.047	3.335
Net Current Assets		25.659	27.781
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		41.528	43.528

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2015
			(Projected)	(Projected)
	SALES
		Income	115.000	125.000
		Other Income	0.600	0.675
		TOTAL (A)	115.600	125.675
Less	EXPENSES
		Cost of Goods Sold	99.000	107.500
		Reporting Fees	0.000	0.000
		Salary, Wages and Bonus	1.275	1.370
		Medicine and Consumables Stores	0.000	0.000
		Electric Charges	0.175	1.550
		Repairing and Maintenance	0.325	0.345
		Advertisement	1.350	1.450
		Other expenses	3.619	2.538
		TOTAL (B)	105.744	114.753
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		9.856	10.922
Less	FINANCIAL EXPENSES (D)		2.400	2.450
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		7.456	8.472
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.456	0.472
	NET PROFIT TRANSFERRED TO HEAD OFFICE ACCOUNT (E-F) (G)		7.000	8.000

------------------------------------------------------------------------------------------------------------------------------

UNIT: CITI CHOICE – GHATAL

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2014	31.03.2015
		(Projected)	(Projected)
SHAREHOLDERS FUNDS
1] Share Capital		22.050	26.000
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		6.300	7.810
4] (Accumulated Losses)		0.000	0.000
NETWORTH		28.350	33.810
LOAN FUNDS
1] Secured Loans		67.750	63.750
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		67.750	63.750
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		96.100	97.560
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		46.280	44.615
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	50.000	54.000
	Sundry Debtors	0.125	0.145
	Cash & Bank Balances	0.179	0.071
	Other Current Assets	0.000	0.000
	Loans & Advances	0.325	0.365
Total Current Assets		50.629	54.581
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.350	0.375
	Other Current Liabilities	2.238	2.595
	Provisions	0.000	0.000
Total Current Liabilities		2.588	2.970
Net Current Assets		48.041	51.611
MISCELLANEOUS EXPENSES		1.779	1.334
TOTAL		96.100	97.560

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2015
			(Projected)	(Projected)
	SALES
		Income	160.000	180.000
		Other Income	0.750	1.050
		TOTAL (A)	160.750	181.050
Less	EXPENSES
		Cost of Goods Sold	138.300	156.000
		Salary, Wages and Bonus	1.096	1.205
		Medicine and Consumables Stores	0.000	0.000
		Electric Charges	0.025	0.045
		Repairing and Maintenance	0.023	0.050
		Advertisement	0.900	1.250
		Director Remuneration	0.000	0.000
		Preliminary Expenses Written off	0.445	0.445
		Other expenses	7.864	7.760
		TOTAL (B)	148.653	166.755
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		12.097	14.295
Less	FINANCIAL EXPENSES (D)		4.050	4.570
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		8.047	9.725
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.747	1.915
	NET PROFIT TRANSFERRED TO HEAD OFFICE ACCOUNT (E-F) (G)		6.300	7.810

------------------------------------------------------------------------------------------------------------------------------

OPERATIONS

During the year, the company has earned profit after tax of Rs.5.571 Millions which shows an increasing trend in profit as compared to previous year. The performance of both the units viz, diagnostic Division as well as retail divisions have performed as per the projection stipulated by the Board directors of the company for the last financial year. Further considering the position economic scenario and continuous emphasis for improvement in health sector by the government, they are expecting enhancement of the company’s overall performance and encouraging long term prospects of the company.

------------------------------------------------------------------------------------------------------------------------------

FORM 8

This form is for	Creation of charge
Corporate identity number of the company	U85110WB1993PTC061175
Name of the company	NARCISSUS MEDICAL CENTRE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	12 DR G C Goswami Street, Serampore, Hooghly – 711101, West Bengal, India narcissus.medical@gmail.com
Type of charge	Movable property (not being pledge)
Particular of charge holder	Reliance Capital Ltd "H" Block, 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai – 400710, Maharashtra, India compsec.RCL@reliancada.com
Nature of description of the instrument creating or modifying the charge	Loan Agreement on dated 27th Day of July 2012 for Rs.0.438 Millions against security of RMS - Aleron 201 (2 Channel EMG, NCV / EP Systems, Manufacturer - RMS, Supplier - recorders and Medicare Systems Private Limited and 12 Lead ECG Machine, Manufacturer – Mediaid, Supplier – Advance Micronic Devices Limited
Date of instrument Creating the charge	27/07/2012
Amount secured by the charge	Rs.0.438 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest RCL'S Prime Lending Rate (PRL) is 18.25%. The interest rate offered to PLR less 3.25% (Margin), which is 15.00% p.a. (Floating). Terms of Repayment As per loan agreement on dated 27^th day of July 2012, repayment of loan Rs.0.438 Million will made in 48 equated monthly installments of Rs.12179/- towards payment of principal and interest. Margin As per loan agreement. Extent and Operation of the charge Mortgage of RMS - Aleron 201 (2 Channel EMG, NCV / EP Systems, Manufacturer - RMS, Supplier - Recorders and Medicare Systems Private Limited and 12 Lead ECG Machine, Manufacturer - Mediaid, Supplier - Advance Micronic Devices Limited to secure the repayment of the term loan along with interest, cost, charges and expenses incidental thereto
Short particulars of the property charged	RMS - Aleron 201 (2 Channel EMG, NCV / EP Systems, Manufacturer - RMS, Supplier - Recorders and Medicare Systems Private Limited 12 Lead ECG Machine, Manufacturer - Mediaid, Supplier - Advance Micronic Devices Limited

------------------------------------------------------------------------------------------------------------------------------

FIXED ASSETS:

· Typewriter Machine

· Furniture and Fittings

· Electrical Installation

· ECG Machine

· Camera

· Citi Scan Machine

· AC Machine

· EEG Machine

· Voltage Stabilizer

· Blood Pressure Machine

· Pump Machine

· Honda Two Wheelers

· Generator

· Fax Machine

· Water Cooler

· Computer

· Inova Car

· Hyundai Gatz Car

· Furniture and Fittings

· Electrical Installation

· Bar Code Machine

· Fan

· Telephone set

· Weight Machine

· Cellular Phone

· Scooter

· Aquaguard

· Coffee Machine

· Refrigerator

· HP Scanner

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.54.43
UK Pound	1	Rs.83.20
Euro	1	Rs.71.91

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION		0
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.