MIRA INFORM REPORT

Report Date :

25.01.2013

IDENTIFICATION DETAILS

Name :	INTERNATIONAL HEALTH CARE LIMITED
Registered Office :	D.No.: 40-9-60, Kohinoor Apartments, Kalanagar, Benz Circle, Vijayawada – 520010, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012 (Summarized Figures)
Date of Incorporation :	27.11.2009
Com. Reg. No.:	01-066011
Capital Investment / Paid-up Capital :	Rs. 5.000 Millions
CIN No.: [Company Identification No.]	U24100AP2009PLC066011
IEC No.:	0909022534
TAN No.: [Tax Deduction & Collection Account No.]	HYDI03000E
TIN No.:	28756362464
PAN No.: [Permanent Account No.]	AACCI1908A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Trader, Exporter and Importer of Poultry, Veterinary and Aquaculture Health Care Specialties – Many Brand Names and they are
No. of Employees :	190 (Approximately) (In Office 40, In Factory 150)

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 20000
Status :	Moderate
Payment Behaviour :	Slow But correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The management of the company has not filed its financials with the government company since its incorporation. Dr. Seshaiah V. Pamulapali, Chairman and Managing Director has provided all details however, financials of the company are not verified. The profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some 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

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. Dr. Seshaiah V Pamulapati
Designation :	Chairman and Managing Director
Contact No.:	91-9848185004
Date :	22.01.2013

LOCATIONS

Registered Office :	D.No.: 40-9-60, Kohinoor Apartments, Kalanagar, Benz Circle, Vijayawada – 520010, Andhra Pradesh, India
Tel. No.:	91-866-2497449/2476577
Mobile No.:	91-9848185004 (Mr. Dr. Seshaiah V Pamulapati)
Fax No.:	91-866-2470127
E-Mail :	ihclimited@yahoo.com nageshandco@gmail.com
Website :	www.internationalhealthcare.in
Location :	Owned
Factory :	54-3-14/A, Opposite: Telephone Exchange, Autonagar, Vijayawada, Andhra Pradesh, India
Tel. No.:	91-866-2543566
Fax No.:	91-866-2470127
E-Mail :	ihclimited@yahoo.com
Location :	Owned

Distribution Network

We have distribution network in Bangladesh, Vietnam, South Korea, Nepal, Egypt, UAE, Taiwan,Ghana, Germany, Kenya, Turkey, Nigeria, Netherlands etc

DIRECTORS

Name :	Dr. Seshaiah Venkata Pamulapati
Designation :	Chairman and Managing Director
Address :	D.No.60-28-4, Sai Sadan, Gayatri Nagar, Vijaywada – 520010, Andhra Pradesh, India
Date of Birth/Age :	15.01.1965
Qualification :	M.V.Sc (Pharmacology and Toxicology)
DIN No.:	01132067
Name :	Smt. Pamulapati Vijaya Lakshmi
Designation :	Director
Address :	D.No.60-28-4, Sai Sadan, Gayatri Nagar, Vijaywada – 520010, Andhra Pradesh, India
Date of Birth/Age :	20.08.1965
Qualification :	Graduate
DIN No.:	01641814
Name :	Mr. Mandadi Konda Swamy
Designation :	Director
Address :	D.No.14-11-10, Atchutaramaiah Street, Vijayawada – 3, Andhra Pradesh, India
Date of Birth/Age :	26.05.1958
Qualification :	Graduate
DIN No.:	02447808
Name :	Smt. Pulivarthi Malathi
Designation :	Director
Address :	54-16-10/4, Srinagar colony, Vijayawada – 8, Andhra Pradesh, India
Date of Birth/Age :	08.08.1950
Qualification :	Under Graduate
DIN No.:	02782699
Name :	Smt. Pamulapati Anusha
Designation :	Director
Address :	D No. 60-28-4, Sai Sadan, Gayatri Nagar, Vijayawada – 8, Andhra Pradesh, India
Date of Birth/Age :	20.05.1992
Qualification :	Under Graduate
Date of Appointment :	23.08.2012
DIN No.:	06362602
Name :	Mrs. Sujata Mandadi
Designation :	Director
Address :	14-11-10 Achutha Ramaiah’s, Hanuman Peta, Vijayawada-520003, Andhra Pradesh, India
DIN No.:	02782680

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Dr. Seshaiah V Pamulapati	200000
P. Vijayalakshmi	200000
M. Konda Swamy	20000
M. Sujatha	20000
P.N. Mahinfra Rao	20000
P. Malathi	20000
M. Venkateswararao	20000
TOTAL	500000

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader, Exporter and Importer of Poultry, Veterinary and Aquaculture Health Care Specialties – Many Brand Names and they are
Products :	Peezyme Fs Feed Supplement Multi Enzyme Feed supplement Promix Fs Concentrated Probiotic Feed Supplement Micro Con Beneficial Microbial Concentration Alternative Antibiotics Attract Feed Attractant and Performance Booster Stress O Lyte Electrolytes Immunex Poultry Herbal Immuniser and Stress Reliever H Power Growth Promoter Immuno Modulator Blood Purifier Anti Microbial and Digestant Phoscare 2500 Phytase Enzyme Egg Inn For More and Better Eggs
Exports :
Products :	Animal Health Care Products
Countries :	Bangladesh Vietnam South Korea Nepal Egypt UAE Taiwan Ghana Germany Kenya Turkey Nigeria Netherlands
Imports :
Products :	Raw Materials of Veterinary Pharmaceuticals
Countries :	China
Terms :
Selling :	L/C, Credit (30 Days, 60 Days)
Purchasing :	L/C, Credit (30 Days)

PRODUCTION STATUS (AS ON : 31.03.2012)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
About 500-600 Products	Lit/Day		50000	50%
	MT/Day		100	75%

GENERAL INFORMATION

Suppliers :

• Aarti Drug Limited, Mumbai, Maharashtra, India

Contact No.91-9821505036 (Mr. Yogesh Padmashli)

• West Bengal Chemical Limited, Kolkata

Contact No. 91-8697711568 (Mr. Atanughosh)

• Aurobindo Pharma Limited, Hyderabad

Contact No. 91-9848965559 (Mr. Hari Prasad)

• Siflon Drugs, Hyderabad

Contact No. 91-9391326151 (Mr. Naresh)

Customers :

• Wholesalers

No. of Employees :

190 (Approximately) (In Office 40, In Factory 150)

Bankers :

• Indian Overseas Bank, Ring Road Branch, Near Benz Circle, Vijayawada-520008, Andhra Pradesh, India

Credit Limit : Rs. 15.000 Millions

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Secured Loan	22.110	23.795
TOTAL	22.110	23.795
Unsecured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Unsecured Loan	0.100	0.000
TOTAL	0.100	0.000

Banking Relations :	--
Auditors :
Name :	Nagesh and Company Chartered Accountant
Address :	Flat No. 301, Venkat Meadows, RR Garden, Patamata, Vijayawada, Andhra Pradesh, India
Tel. No.:	91-99481-99500
E-Mail :	inagesh@yahoo.co.in

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

SUMMARIES BALANCE SHEET

SOURCES OF FUND	31.03.2012 (Rs. In Millions)
Proprietors/Partners/Share Capital	5.000
Reserves	7.358
Secured Loan	22.110
Unsecured Loan	0.100
Current Liabilities	3.284
Provision	0.854
Total	50.320
Fixed Assets	21.436
Investment	1.275
Inventories	16.859
Sundry Debtors	7.264
Cash and Bank Balance	0.634
Other Current Assets	2.129
Loans and Advances	0.725
Total	50.320

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		5.000
2] Share Application Money		0.000
3] Reserves & Surplus		7.358
4] (Accumulated Losses)		0.000
NETWORTH		12.358
LOAN FUNDS
1] Secured Loans		23.795
2] Unsecured Loans		0.000
TOTAL BORROWING		23.795
DEFERRED TAX LIABILITIES		0.000
TOTAL		36.153
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		23.042
Capital work-in-progress		0.000
INVESTMENT		0.754
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.656
	Sundry Debtors	12.153
	Cash & Bank Balances	0.467
	Other Current Assets	0.000
	Loans & Advances	0.198
Total Current Assets		21.474
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	8.612
	Provisions	0.505
Total Current Liabilities		9.117
Net Current Assets		12.357
MISCELLANEOUS EXPENSES		0.000
TOTAL		36.153

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011
	SALES
		Sales Turnover		24.528
		Other Income		0.109
		TOTAL (A)	NA	24.637
Less	EXPENSES
		Cost of Goods Sold	21.506	18.299
		Administrative Expenses	0.064	0.039
		Other Expenditure	0.000	2.362
		TOTAL (B)	21.570	20.700
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			NA
Less	FINANCIAL EXPENSES (D)		NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	3.937
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.285	3.725
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		NA	0.212
Less	TAX (H)		NA	NA
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		NA	0.212
	EARNINGS IN FOREIGN CURRENCY		NA
		Export Earnings		0.133
	TOTAL EARNINGS			0.133
	Earnings Per Share (Rs.)		NA	4.24

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	0.86
Net Profit Margin (PBT/Sales)	(%)	0.86
Return on Total Assets (PBT/Total Assets}	(%)	0.47
Return on Investment (ROI) (PBT/Networth)		0.02
Debt Equity Ratio (Total Liability/Networth)		0.99
Current Ratio (Current Asset/Current Liability)		2.35

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 One years	Yes
12]	Profitability for last One 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	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

TRADE REFERENCES

• Qingadaolro Taihe International Trade Company Limited, China
• Qingdo Develop Chemistry Company Limited, China

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.53.77
UK Pound	1	Rs.85.13
Euro	1	Rs.71.56

INFORMATION DETAILS

Report Prepared by :

SPR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		33

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.