MIRA INFORM REPORT

Report Date :

02.07.2013

IDENTIFICATION DETAILS

Name :	CADMACH MACHINERY COMPANY PRIVATE LIMITED
Registered Office :	16, Azad Society, Ambawadi, Ahmedabad-380 015, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	06.09.1973
Com. Reg. No.:	04-2373
Capital Investment / Paid-up Capital :	Rs. 2.220 Millions
CIN No.: [Company Identification No.]	U68186GJ1973PTC002373
TAN No.: [Tax Deduction & Collection Account No.]	AHMC01308G
PAN No.: [Permanent Account No.]	AAACC6242R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Seller and Exporter of Pharmaceutical and Machines and their Spare Parts.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 500000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears an increase in the sales turnover as well as the net profitability during 2012. Trade relations are fair. Business is active. Payment terms are reported as usually correct. In view of experienced promoters and directors, the company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities : BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	27.12.2012

Rating Agency Name	CARE
Rating	Short term bank facilities : A2
Rating Explanation	Short degree of safety and low credit risk.
Date	27.12.2012

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 :	16, Azad Society, Ambawadi, Ahmedabad-380 015, Gujarat, India
Tel. No.:	91-79-26767467
Fax No.:	91-79-26868337
E-Mail :	upen.shah@zyduscadila.com
Head Office Factory :	Plot No. 3604 and 3605, GIDC, Phase IV, Vatva, Ahmedabad – 382 445, Gujarat, India
Tel. No.:	91-79-25841491/ 92/ 93/ 3/25841717/53
Fax No.:	91-79-25842602
E-Mail :	info@cadmach.com sales@cadmach.com upen.shah@zyduscadila.com exports@cmcmach.com
Website:	http://www.cadmach.com
Area :	Owned
Branches :	Located At: · Bangalore · Chennai · Hyderabad · Kolkata · Mumbai · New Delhi
Overseas Office :	73 B, Rt 31, North Pennington, NJ 08534, USA
Tel. No.:	91-609-7309700
Fax No.:	91-609-7309711
E-Mail :	salesusa@cmcmach.com

DIRECTORS

As on : 30.07.2012

Name :

Mr. Jayant Veljibhai Khambatta

Designation :

Chairman cum Managing Director

Address :

44, Jawahar Nagar, Sarkhej Road, Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

07.03.1930

Date of Appointment :

01.07.1974

DIN No :

00032676

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	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Managing director	01-07-74	01-07-74	-	Active	NO
2	U51909GJ1995PTC026417	KEVIN PROCESS TECHNOLOGIES PRIVATE LIMITED	Director	21-06-95	21-06-95	-	Active	NO
3	U29120GJ1999PTC036177	VAC-U-MAX ASIA PRIVATE LIMITED	Director	22-06-99	22-06-99	-	Active	NO
4	U72200GJ2000PTC038100	KEVIN TECHNOLOGIES PRIVATE LIMITED	Director	29-05-00	29-05-00	-	Active	NO
5	U29297GJ2002PTC041001	KAMBERT MACHINERY COMPANY PRIVATE LIMITED	Director	23-07-02	23-07-02	-	Active	NO

Name :

Mr. Sharvil Pankajbhai Patel

Designation :

Managing Director

Address :

16, Azad Society, Ambawadi, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

13.10.1978

Date of Appointment :

01.12.2008

DIN No :

00131995

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	L24230GJ1995PLC025878	CADILA HEALTHCARE LIMITED	Managing director	01-04-12	01-08-97	-	Active	NO
2	U85110GJ2000PLC037488	DIALFORHEALTH INDIA LIMITED	Nominee director	15-01-01	15-01-01	-	Active	NO
3	U65910GJ1980PTC004056	PRIPAN INVESTMENT PRIVATE LIMITED	Director	15-09-01	15-09-01	-	Active	NO
4	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Managing director	01-12-08	22-09-01	-	Active	NO
5	U24239MH1991PLC059995	PHARMACEUTICAL BUSINESS GROUP(INDIA) LIMITED	Director	28-09-01	28-09-01	16-05-08	Active	NO
6	U65910GJ1994PLC023467	ZYDUS INFRASTRUCTURE PRIVATE LIMITED	Director	08-10-01	08-10-01	-	Active	NO
7	U24239GJ2000PLC075267	ZYDUS ANIMAL HEALTH LIMITED	Nominee director	11-10-01	11-10-01	-	Active	NO
8	U24231GJ1994PLC023298	ZYDUS PHARMACEUTICALS LIMITED	Director	15-10-01	15-10-01	-	Active	NO
9	U24231GJ1973PLC002286	CADILA LABORATORIES PRIVATE LIMITED	Director	19-04-03	19-04-03	-	Active	NO
10	U24233GJ2007PTC050538	MABS BIOTECH PRIVATE LIMITED	Nominee director	16-04-07	16-04-07	-	Active	NO
11	U24239GJ1982PLC075559	LIVA HEALTHCARE LIMITED	Nominee director	18-04-07	18-04-07	14-08-07	Active	NO
12	U85110GJ2008PTC052902	ZYDUS HOSPITALS AND MEDICAL RESEARCH PRIVATE LIMITED	Director	13-02-08	13-02-08	-	Amalgamated	NO
13	U24233GJ2008PTC054191	ZYDUS HOSPITALS AND HEALTHCARE RESEARCH PRIVATE LIMITED	Director	12-06-08	12-06-08	-	Active	NO
14	U24230GJ2009PLC056149	ZYDUS TECHNOLOGIES LIMITED	Director	16-02-09	16-02-09	-	Active	NO
15	U90000GJ2009PTC056367	WESTERN AHMEDABAD EFFLUENT CONVEYANCE COMPANY PRIVATE LIMITED	Director	16-03-09	16-03-09	-	Active	NO
16	L15201GJ1994PLC023490	ZYDUS WELLNESS LIMITED	Director	28-07-09	27-04-09	-	Active	NO
17	L15140GJ1985PLC007845	ADI FINECHEM LIMITED	Director	30-08-10	01-04-10	03-11-12	Active	NO
18	U85110GJ2011PTC064017	ZYDUS HOSPITALS (RAJKOT) PRIVATE LIMITED	Director	11-02-11	11-02-11	-	Active	NO
19	U85110GJ2011PTC064016	ZYDUS HOSPITALS (VADODRA) PRIVATE LIMITED	Director	11-02-11	11-02-11	-	Active	NO
20	AAA-2692	ZANDRA INFRASTRUCTURE LLP	Designated Partner	02-11-10	02-11-10	-	Active	NO
21	AAB-3962	ZYDUS HOSPITAL LLP	Designated Partner	13-03-13	13-03-13	-	Active	NO

Name :

Mr. Pankaj Ramanbhai Patel

Designation :

Director

Address :

16, Azad Society, Ambawadi, Ahmedabad – 380 015, Gujarat, India

Date of Birth/Age :

16.03.1953

Date of Appointment :

01.12.2008

DIN No :

00131852

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	U24231GJ1973PLC002286	CADILA LABORATORIES PRIVATE LIMITED	Director	09-03-78	09-03-78	-	Active	NO
2	U65910GJ1980PTC004056	PRIPAN INVESTMENT PRIVATE LIMITED	Director	01-12-80	01-12-80	-	Active	NO
3	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Director	01-12-08	16-02-90	-	Active	NO
4	U24239MH1991PLC059995	PHARMACEUTICAL BUSINESS GROUP(INDIA) LIMITED	Director	25-01-91	25-01-91	16-05-08	Active	NO
5	L24230GJ1981PLC004878	GUJARAT THEMIS BIOSYN LTD	Director	15-01-92	15-01-92	25-10-08	Active	NO
6	U24231GJ1994PLC023298	ZYDUS PHARMACEUTICALS LIMITED	Director	17-10-94	17-10-94	03-01-13	Active	NO
7	U65910GJ1994PLC023467	ZYDUS INFRASTRUCTURE PRIVATE LIMITED	Director	31-10-94	31-10-94	-	Active	NO
8	L24230GJ1995PLC025878	CADILA HEALTHCARE LIMITED	Managing director	15-05-95	15-05-95	-	Active	NO
9	L24231GJ1991PLC015390	VADILAL CHEMICALS LIMITED	Director	01-12-95	01-12-95	-	Active	NO
10	U24231MH1999PTC119171	ZYDUS TAKEDA HEALTHCARE PRIVATE LIMITED	Nominee director	30-03-99	30-03-99	-	Active	NO
11	U85110GJ2000PLC037488	DIALFORHEALTH INDIA LIMITED	Nominee director	06-03-00	06-03-00	03-01-13	Active	NO
12	U24239GJ2000PLC075267	ZYDUS ANIMAL HEALTH LIMITED	Nominee director	27-03-00	27-03-00	03-01-13	Active	NO
13	U73100GJ2004PLC044669	CLIANTHA RESEARCH LIMITED	Director	30-08-04	30-08-04	26-09-08	Active	NO
14	U24230GJ2005PTC046915	ZYDUS BSV PHARMA PRIVATE LIMITED.	Director	25-08-06	07-04-06	15-03-08	Active	NO
15	U73100GJ2005PTC046914	ZYDUS BSV RESEARCH AND DEVELOPMENT PRIVATE LIMITED	Director	25-08-06	07-04-06	-	Amalgamated	NO
16	U73100GJ2006PLC048915	BAAP DIAGNOSTICS LIMITED	Nominee director	21-08-06	21-08-06	05-07-12	Active	NO
17	L31200GJ2004PLC044068	TORRENT POWER LIMITED	Director	15-12-06	29-09-06	-	Active	NO
18	U24240GJ1980PLC003670	NIRMA LIMITED	Director	25-09-07	28-10-06	-	Active	NO
19	U24233GJ2007PTC050538	MabS BIOTECH Private LIMITED	Nominee director	16-04-07	16-04-07	-	Active	NO
20	U24239GJ1982PLC075559	LIVA HEALTHCARE LIMITED	Nominee director	18-04-07	18-04-07	14-08-07	Active	NO
21	U85110GJ2008PTC052902	ZYDUS HOSPITALS AND MEDICAL RESEARCH PRIVATE LIMITED	Director	13-02-08	13-02-08	-	Amalgamated	NO
22	U24233GJ2008PTC054191	ZYDUS HOSPITALS AND HEALTHCARE RESEARCH PRIVATE LIMITED	Director	12-06-08	12-06-08	-	Active	NO
23	U92410GJ1989GAP012192	KARNAVATI CLUB LIMITED	Director	29-12-11	21-12-08	-	Active	NO
24	U70101GJ2009PTC056074	ZANDRA INFRASTRUCTURE PRIVATE LIMITED	Director	06-02-09	06-02-09	21-02-09	Converted to LLP and dissolved	NO
25	U24230GJ2009PLC056149	ZYDUS TECHNOLOGIES LIMITED	Director	16-02-09	16-02-09	03-01-13	Active	NO
26	U90000GJ2009PTC056367	WESTERN AHMEDABAD EFFLUENT CONVEYANCE COMPANY PRIVATE LIMITED	Director	16-03-09	16-03-09	-	Active	NO
27	L15201GJ1994PLC023490	ZYDUS WELLNESS LIMITED	Director	28-07-09	27-04-09	-	Active	NO
28	U85110GJ2011PTC064017	ZYDUS HOSPITALS (RAJKOT) PRIVATE LIMITED	Director	11-02-11	11-02-11	-	Active	NO
29	U85110GJ2011PTC064016	ZYDUS HOSPITALS (VADODRA) PRIVATE LIMITED	Director	11-02-11	11-02-11	-	Active	NO
30	U24233MH2011PTC213118	BAYER ZYDUS PHARMA PRIVATE LIMITED	Director	31-05-12	28-04-11	-	Active	NO
31	AAA-2692	ZANDRA INFRASTRUCTURE LLP	Designated Partner	02-11-10	02-11-10	-	Active	NO
32	AAB-3962	ZYDUS HOSPITAL LLP	Designated Partner	13-03-13	13-03-13	-	Active	NO

Name :

Mr. Vinit J. Khambhatta

Designation :

Whole- Time Director

Address :

44, Jawaharnagar Society, Sarkhej Road, Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

02.08.1961

Date of Appointment :

16.02.1990

DIN No :

00032664

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	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Whole-time director	16-02-90	16-02-90	-	Active	NO
2	U51909GJ1995PTC026417	KEVIN PROCESS TECHNOLOGIES PRIVATE LIMITED	Director	21-06-95	21-06-95	-	Active	NO
3	U29120GJ1999PTC036177	VAC-U-MAX ASIA PRIVATE LIMITED	Director	22-06-99	22-06-99	-	Active	NO
4	U72200GJ2000PTC038100	KEVIN TECHNOLOGIES PRIVATE LIMITED	Director	29-05-00	29-05-00	-	Active	NO

Name :

Mr. Mukeshbhai Raojibhai Patel

Designation :

Whole-Time Director

Address :

293, Lane No 16, Sector No. 1, Satyagrah Chhavni, Near Bhavnirzar, Jodhpur, tekra, Ahmedabad – 380051, Gujarat, India

Date of Birth/Age :

13.09.1947

Date of Appointment :

01.04.2009

DIN No :

00032104

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	U73100GJ2004PLC044669	CLIANTHA RESEARCH LIMITED	Director	31-12-07	30-08-04	-	Active	NO
2	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Whole-time director	01-04-09	01-11-05	-	Active	NO
3	L15201GJ1994PLC023490	ZYDUS WELLNESS LIMITED	Director	29-09-06	27-07-06	27-04-09	Active	NO
4	U24233GJ2007PTC050538	MabS BIOTECH Private LIMITED	Nominee director	16-04-07	16-04-07	-	Active	NO
5	U85110GJ2008PTC052902	ZYDUS HOSPITALS AND MEDICAL RESEARCH PRIVATE LIMITED	Additional director	08-05-08	08-05-08	-	Amalgamated	NO
6	U70101GJ2009PTC056074	ZANDRA INFRASTRUCTURE PRIVATE LIMITED	Director	06-02-09	06-02-09	-	Converted to LLP and dissolved	NO
7	U73100GJ2006PLC048915	BAAP DIAGNOSTICS LIMITED	Additional director	19-06-12	19-06-12	-	Active	NO

Name :

Mr. Ketan Jayantbhai Khambata

Designation :

Whole- Time Director

Address :

44, Jawaharnagar Society, Sarkhej Road, Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

20.01.1970

Date of Appointment :

01.11.2005

DIN No :

00861301

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	U51909GJ1995PTC026417	KEVIN PROCESS TECHNOLOGIES PRIVATE LIMITED	Director	21-06-95	21-06-95	-	Active	NO
2	U29120GJ1999PTC036177	VAC-U-MAX ASIA PRIVATE LIMITED	Managing director	22-06-99	22-06-99	-	Active	NO
3	U72200GJ2000PTC038100	KEVIN TECHNOLOGIES PRIVATE LIMITED	Director	29-05-00	29-05-00	-	Active	NO
4	U29297GJ2002PTC041001	KAMBERT MACHINERY COMPANY PRIVATE LIMITED	Director	23-07-02	23-07-02	-	Active	NO
5	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Whole-time director	01-11-05	01-11-05	-	Active	NO
6	U29299GJ2008PTC053165	MATCON IBC SOLUTIONS INDIA PRIVATE LIMITED	Director	05-03-08	05-03-08	-	Strike off	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.07.2012

Names of Shareholders	No. of Shares
Khambhatta J Veljibhai	1986
Pripan Investments Private Limited	36
Taraben Ramanbhai Patel	306
Pankajbhai Ramanbhai Patel	51
Pankajbhai Ramanbhai Patel	50
Sharvil Pankajbhai Patel	100
Pritiben Pankajbhai Patel	100
Shardaben Jayantilal Khambhatta	1854
Vinit Jayantilal Khambhatta	1854
Ketan Jayantilal Khambhatta	1854
Pankajbhai Ramanbhai Patel	6
Pankajbhai Ramanbhai Patel	50
Pankajbhai Ramanbhai Patel	306
Taraben Ramanbhai Patel	300
Niranjanben Kanubhai Patel	300
Ramanbhai Pankajbhai Patel	50
Taraben Ramanbhai Patel	50
Pankajbhai Ramanbhai Patel	2304
Pankajbhai Ramanbhai Patel	3317
Pankajbhai Ramanbhai Patel	7326
Total	22200

Equity Share Break up (Percentage of Total Equity)

As on : 30.07.2012

Category	Percentage
Bodies corporate	0.16
Directors or relatives of Directors	99.84
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Seller and Exporter of Pharmaceutical and Machines and their Spare Parts.

Products :

Product Description	Item Code No. (ITC Code)
Chemical Plant and other Machinery for Manufacturing Chemicals, pharmaceuticals	84798980
Mixing, Kneading, Crushing, Griding, Screening, shifting, Homogenising emulsifying or Stirring Machines	84798200
Plants of Other Machinery	84229090

GENERAL INFORMATION

No. of Employees :

150 (Approximately)

Bankers :

Bank of Baroda, Ashram Road Branch, Ashram Road, Ahmedabad-380 009, Gujarat, India

Facilities :

(Rs in Millions)

SECURED LOANS	31.03.2012	31.03.2011
Term Loans
Banks	2.012	1.525
Financial Institution	48.899	42.855
Other	0.000	1.451
Loans repayable on demand
Working Capital Loan from a Bank	16.405	16.740
Total	67.316	62.571

Note :

A Securitie for Term Loan:

[a] Term term from ICICI Bank secured by hypothecation of Specific vehicle purchased from the Company under the ban.

(b] Term ton from Bank of Baroda Is secured by way of first pari passu Charge by way of an equitable mortgage Of immovable properties and hypothecation of movable plant and machineries situated at Plot No.. 3604 and 3605 at G.I.D.C, Vatwa, Ahmedabad, both present and future, besides second charge on current assets.

[c] Term loan from Financial Institution is secured by fist part passu charge by way of an equitable mortgage of immovable properties and hypothecation of movable feed assets Situated at plot nos. 3604 and 3605 at G.t.D.C, Vatwa, Ahmedabad, both present and future, an extensive charge by way of hypothecation over specific receivables arising out of export of machinery and spares under the facility, besides Personal Guarantee of Mr Pankaj R Patel, a director of the Company.

[d] Term loan from Other is secured by hypothecation of specific vehicles purchased by the Company under the loan.

6 Terms of repayment:

[a] Term loan from ICICI Bank is repayable In 36 monthly equal installment of Rs. 0.115 Million started from November 15, 2011 including interest e 9.52H. p.a. The outstanding amount as at March 31, 2012 is Rs. 0.003 Million [as at March 31, 2011 (Rs. NIL ).

[b] Term ban from Bank of Baroda is repayable In monthly equal installments of Rs. 0.003 Millions each started from March 31, 2011 along with interest 6> 3.75% p.a. over base rate p.a. The outstanding amount as at March 31, 2012 is Rs. 0.002 Millions [as at March 31, 2011:Rs. 0.005 Millions.

[c] Term loan from 6dm Bank [Financial institution] repayable after 3 years from the date of respective disbursement starting from August 5, 2013 along with interest © 6 months US LIBOR plus 400 bps p.a. The outstanding amount as at 31st March, 2012 is Rs.48,899 [as at March 31, 2011: Rs. 0.043 Millions]

[d] Term loan from Kotak Mahindra Prime Limited (other] is repayable in 36 monthly equal ii from December 10, 2009 inducing Interest (ft B.1% p.a. The outstanding amount as at March 31, 2012 Is Rs, 145.100 Millions at March 31, 2011: Rs.0.003 Millions].

Auditors :
Name :	Mukesh M. Shah and Company Chartered Accountants
Address :	1^st Floor, H. K. House, Ashram Road, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-26580949/26585814
Fax No.:	91-79-26580949
PAN No :	AAIFM0810A
E-Mail :	mukeshmshah@gmial.com
Associates/Subsidiaries : (31.03.2010)	CMC Machinery Kambert Machinery private Limited Cadila Healthcare Limited Zydus Healthcare Vac-U-Max Asia Private Limited N. K. Engineering Kevin Process Technologies Private Limited Kevin Technologies Private Limited Restech Pharmaceuticals

CAPITAL STRUCTURE

As on : 30.07.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- each	Rs.2.500 Millions
15000	Preference Shares	Rs.100/- each	Rs.1.500 Millions
10000	Unclassified Shares	Rs.100/- each	Rs.1.000 Millions
	Total		Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
22200	Equity Shares	Rs.100/- each	Rs.2.220 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	2.220	2.220
(b) Reserves & Surplus	124.661	115.558
(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)	126.881	117.778
(3) Non-Current Liabilities
(a) long-term borrowings	50.911	45.831
(b) Deferred tax liabilities (Net)	3.981	6.233
(c) Other long term liabilities	0.449	0.233
(d) long-term provisions	14.843	18.320
Total Non-current Liabilities (3)	70.184	70.617
(4) Current Liabilities
(a) Short term borrowings	16.405	16.740
(b) Trade payables	109.591	73.062
(c) Other current liabilities	40.434	46.951
(d) Short-term provisions	19.348	7.999
Total Current Liabilities (4)	185.778	144.752
TOTAL	382.843	333.147
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	81.940	69.614
(ii) Intangible Assets	6.064	1.008
(iii) Capital work-in-progress	0.814	0.648
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.001	0.001
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	11.465	13.030
(e) Other Non-current assets	48.452	42.455
Total Non-Current Assets	148.736	126.756
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	132.087	133.328
(c) Trade receivables	92.602	62.337
(d) Cash and cash equivalents	0.793	4.702
(e) Short-term loans and advances	7.367	4.951
(f) Other current assets	1.258	1.073
Total Current Assets	234.107	206.391
TOTAL	382.843	333.147

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.220
2] Share Application Money		0.000
3] Reserves & Surplus		107.247
4] (Accumulated Losses)		0.000
NETWORTH		109.467
LOAN FUNDS
1] Secured Loans		24.832
2] Unsecured Loans		0.000
TOTAL BORROWING		24.832
DEFERRED TAX LIABILITIES		0.994
TOTAL		135.293
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		63.982
Capital work-in-progress		0.000
INVESTMENT		0.001
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	133.187
	Sundry Debtors	80.442
	Cash & Bank Balances	1.296
	Other Current Assets	0.000
	Loans & Advances	15.803
Total Current Assets		230.728
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	29.252
	Other Current Liabilities	101.086
	Provisions	29.080
Total Current Liabilities		159.418
Net Current Assets		71.310
MISCELLANEOUS EXPENSES		0.000
TOTAL		135.293

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	697.202	628.720	524.634
		Other Income	2.640	1.405	0.272
		TOTAL (A)	699.842	630.125	524.906
Less	EXPENSES
		Cost of Materials Consumed	324.057	267.816	246.542
		Purchase of Stock in Trade	0.844	34.261	0.000
		Changes in Inventories of Finished Goods	2.391	2.092	0.000
		Employees Benefits Expenses	136.281	132.785	0.000
		General Expenses	0.000	0.000	249.518
		Other expenses	188.095	157.835	0.000
		TOTAL (B)	651.668	594.789	496.060
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		48.174	35.336	28.846
Less	FINANCIAL EXPENSES (D)		10.294	1.905	1.169
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		37.880	33.431	27.677
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.414	7.528	6.725
	PROFIT BEFORE TAX (E-F) (G)		29.466	25.903	20.952
Less	TAX (H)		7.462	11.787	6.955
	PROFIT AFTER TAX (G-H) (I)		22.004	14.116	13.997
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		51.558	45.847	39.075
Less	APPROPRIATIONS
		Transfer to General Reserve	3.500	2.600	1.400
		Proposed Dividend	11.100	4.995	4.995
		Corporate Dividend Tax on Proposed Dividend	1.801	0.810	0.830
	BALANCE CARRIED TO THE B/S		57.161	51.558	45.847
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	0.000	41.185	0.000
		Commission Earnings	4.429	0.000	0.000
		Other Earnings	4.429	41.185	0.000
	TOTAL EARNINGS		8.858	82.370	0.000
	IMPORTS
		Raw Materials	4.550	5.978	5.916
	TOTAL IMPORTS		4.550	5.978	5.916
	Earnings Per Share (Rs.)		991.17	635.86	630.50

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.14	2.24	2.67
Net Profit Margin (PBT/Sales)	(%)	4.22	4.12	3.99
Return on Total Assets (PBT/Total Assets}	(%)	7.71	7.79	7.11
Return on Investment (ROI) (PBT/Networth)		0.23	0.22	0.19
Debt Equity Ratio (Total Debt /Networth)		0.53	0.53	0.23
Current Ratio (Current Asset/Current Liability)		1.26	1.43	1.45

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	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	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	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	Yes

NOTE :

The registered office of the company has been shifted from Zydus Tower Satellite Cross Roads Ahmedabad-380015, Gujarat, India to the present address w.e.f. 01.09.2008.

BANKERS CHARGES REPORT AS PER REGISTRY :

Corporate identity number of the company	U68186GJ1973PTC002373
Name of the company	CADMACH MACHINERY COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	16, Azad Society, Ambawadi, Ahmedabad-380015, Gujarat, India Email : upen.shah@zyduscadila.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90108247
Type of charge	Movable Property (not being pledge)
Particular of charge holder	Bank of Baroda, Ashram Road Branch, Ashram Road, Ahmedabad-380 009, Gujarat, India Email : ashram@bankofbaroda.com
Nature of description of the instrument creating or modifying the charge	Supplemental Composite Agreement of Hypothecation of Goods, Book-Debts and Movable Machinery dated 22/05/2013.
Date of instrument Creating the charge	22.05.2013
Amount secured by the charge	Rs. 57.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest : Bank Rate+3.75% p.a. Margin : 40% on stock in process 25% on Raw Materials, Finished Goods and other stock. Extent and Operation of the charge : First Charge
Short particulars of the property charged	Hypothecation of stocks, whether in process as in raw state or finished products situated at plot no. 3604 and 3605 GIDC Industrial Estate Phase-IV, Vatwa, Ahmedabad-382445 on in transit.
Date of latest modification prior to the present modification	05.03.2010
Particulars of the present modification	In view of Sanction of additional cash credit limit of Rs. 20.000 Millions the total amount Secured by the charge stands enhanced from Rs. 37.500 Millions to Rs. 57.500 Millions

FIXED ASSETS

• Lease Hold Land
• Building
• Plant and Machinery
• Furniture, Fixture and Office Equipments
• 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. 59.15
UK Pound	1	Rs. 90.05
Euro	1	Rs. 77.07

INFORMATION DETAILS

Report Prepared by :

NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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.