MIRA INFORM REPORT

Report Date :

23.07.2013

IDENTIFICATION DETAILS

Name :	OPTIMUS DRUGS PRIVATE LIMITED (w.e.f. 10.01.2009)
Formerly Known As :	SURYA KIRAN LABS PRIVATE LIMITED
Registered Office :	3^rd Floor, Narmada Arcade, Snehapuri Colony, Above HDFC Bank, Nacharam, Hyderabad – 500076, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	02.12.2003
Com. Reg. No.:	01-042155
Capital Investment / Paid-up Capital :	Rs. 28.689 Millions
CIN No.: [Company Identification No.]	U24239AP2003PTC042155
TAN No.: [Tax Deduction & Collection Account No.]	HYDO01519A
PAN No.: [Permanent Account No.]	AAHCS8074N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Bulk Drugs.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 322000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are fair. Business is active. Payments are reported to be slow but 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 – 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	CRISIL
Rating	SE 2B
Rating Explanation	High performance capability and moderate financial strength.
Date	May, 2011

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 :	Chari
Designation :	Commercial Manager
Contact No.:	91-8008031313
Date :	20.07.2013

LOCATIONS

Registered Office :	3^rd Floor, Narmada Arcade, Snehapuri Colony, Above HDFC Bank, Nacharam, Hyderabad – 500076, Andhra Pradesh, India
Tel. No.:	91-40-27174651
Mobile No.:	91-8008031313 [Chari]
Fax No.:	Not Available
E-Mail :	askrco@yahoo.com
Factory :	S. No. 239 and 240, Dothipuram Mandal, District Nalgonda – 508001, Andhra Pradesh, India

DIRECTORS

AS ON 29.09.2012

Name :

Mr. D. Srinivasa Reddy

Designation :

Director

Address :

H No. 9-119, Flat No. 6, Hymayat Nagar, Nacharam, Hyderabad – 500076, Andhra Pradesh, India

Date of Birth/Age :

19.01.1973

Date of Appointment :

30.03.2006

DIN No.:

01819852

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	U24239AP2004PTC044232	OPTIMUS PHARMA PRIVATE LIMITED	Managing director	21/09/2004	21/09/2004	Active	NO
2	U24239AP2003PTC042155	OPTIMUS DRUGS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	Active	NO
3	U27100WB2008PTC123888	TWINE STEEL PRIVATE LIMITED	Director	17/10/2011	17/10/2011	Under Process of Striking off	NO
4	U24233AP2012PTC079927	OPTRIX LABORATORIES PRIVATE LIMITED	Director	13/06/2013	13/06/2013	Active	NO

Name :

Mr. Venkata Srinivasarao Velivela

Designation :

Director

Address :

H No.5-80, C2 Road, No.46, Vivekananda Nagar, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India

Date of Birth/Age :

07.05.1970

Date of Appointment :

01.01.2010

DIN No.:

01448900

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	U24230AP2005PTC045300	USHA VITAL CARE PRIVATE LIMITED	Director	30/05/2005	30/05/2005	27/01/2011	Active	NO
2	U24239AP2003PTC042155	OPTIMUS DRUGS PRIVATE LIMITED	Director	01/01/2010	01/01/2010	-	Active	NO
3	U24233AP2012PTC079927	OPTRIX LABORATORIES PRIVATE LIMITED	Director	13/06/2013	13/06/2013	-	Active	NO

KEY EXECUTIVES

Name :	Chari
Designation :	Commercial Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
D. Srinivasa Reddy	2277470
Venkata Srinivasarao Velivela	70000

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Bulk Drugs.
Exports :
Products :	Finished Goods
Countries :	Pakistan Bangladesh Europe
Imports :
Products :	Raw material
Countries :	China
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

100 (Approximately)

Bankers :

· Small Industries Development Bank of India, 101, 1^st Floor, Hermitage Complex, Saifabad, Hyderabad – 500004, Andhra Pradesh, India

· Standard Chartered Bank, Door No.8-2-293/82/A/646A, Ground Floor, Adityaram Square, Road No.36, Jubilee Hills, Hyderabad – 500003, Andhra Pradesh, India

· Standard Chartered Bank, SME Credit, 4^th Floor, Ashok Bhopal Chamber, S.P. Road, Secunderabad – 500003, Andhra Pradesh, India [91-40-64570031]

· HDFC Bank Limited

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
Vehicle Loans from HDFC Bank	1.017	0.040
Term Loan from SIDBI	28.298	22.642
Total	29.315	22.682

LONG TERM BORROWINGS

DISCLOSURE

Vehicle loans comprises of 3 car loans and 10 motor vehicle loans from HDFC bank and Loan is secured by Hypothecation of vehicles purchases and loans are having varied interest and repayment schedule and company has been repaying the loan as scheduled

Term Loan from SIDBI comprises 8 different loans availed from SIDBI over period of time. Term Loan is secured by first charge on entire fixed assets of company comprising of Factory land, building, plant and machinery, etc. Loans are having varied interest and repayment Schedule and company has been repaying the loan as scheduled.

Banking Relations :	--
Auditors :
Name :	S. Kasthuri Rangan and Company Chartered Accountants
Address :	1-1-18/20, Sriranganilayam, Jawaharnagar, Hyderabad – 500020, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	ABVFS0052L

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2868900	Equity Shares	Rs.10/- each	Rs. 28.689 Millions

DISCLOSURE

The company has only one class of shares referred to as Equity Shares having a Par Value of Rs.10/‐ each. Each holder of Equity Share is entitled to one vote per share. Equity Share holders holding more than 5% of Equity Share

Particulars	No. of Shares	Amount (Rs. In millions)
D. Srinivasa Reddy	2277470	22.775
D. Triveni	194000	1.940
D. Shiva Reddy	162540	1.625

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	28.689	12.589
(b) Reserves & Surplus	26.123	14.557
(c) Money received against share warrants	0.000	0.000
	0.0	0.0
(2) Share Application money pending allotment	25.770	8.600
Total Shareholders’ Funds (1) + (2)	80.582	35.746
(3) Non-Current Liabilities
(a) long-term borrowings	64.326	27.582
(b) Deferred tax liabilities (Net)	4.000	2.719
(c) Other long term liabilities	0.000	3.711
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	68.326	34.012
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	194.033	137.166
(c) Other current liabilities	6.512	4.749
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	200.545	141.915
TOTAL	349.453	211.673
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	83.974	64.554
(ii) Intangible Assets	1.166	1.473
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	85.140	66.027
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	48.146	16.043
(c) Trade receivables	172.617	109.221
(d) Cash and cash equivalents	6.490	3.755
(e) Short-term loans and advances	37.060	16.627
(f) Other current assets	0.000	0.000
Total Current Assets	264.313	145.646
TOTAL	349.453	211.673

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		12.589
2] Share Application Money		0.000
3] Reserves & Surplus		7.625
4] (Accumulated Losses)		0.000
NETWORTH		20.214
LOAN FUNDS
1] Secured Loans		21.076
2] Unsecured Loans		0.000
TOTAL BORROWING		21.076
DEFERRED TAX LIABILITIES		1.787
TOTAL		43.077
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		48.847
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.207
	Sundry Debtors	45.980
	Cash & Bank Balances	7.767
	Other Current Assets	0.000
	Loans & Advances	15.780
Total Current Assets		75.734
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	80.109
	Other Current Liabilities & Provisions	2.930
Total Current Liabilities		83.039
Net Current Assets		(7.305)
MISCELLANEOUS EXPENSES		1.535
TOTAL		43.077

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income from Operations	605.940	299.219	118.594
		Other Income	0.117	0.563	0.201
		TOTAL (A)	606.057	299.782	118.795
Less	EXPENSES
		Material & Manufacturing Expenses	576.966	268.956	109.571
		Change In Inventory	(27.510)	(2.569)
		Employee Cost	16.306	9.078
		Other expenses	12.990	7.344
		TOTAL (B)	578.752	282.809	109.571
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		27.305	16.973	9.224
Less	FINANCIAL EXPENSES (D)		2.954	2.888	1.715
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		24.351	14.085	7.509
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.892	6.316	3.567
	PROFIT BEFORE TAX (E-F) (G)		17.459	7.769	3.942
Less	TAX (H)		5.893	2.336	1.429
	PROFIT AFTER TAX (G-H) (I)		11.566	5.433	2.513
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		13.057	7.624	5.111
	BALANCE CARRIED TO THE B/S		NA	13.057	7.624
	Earnings Per Share (Rs.)		4.03	4.32	2.65

Particulars	31.03.2013
Sales Turnover (Approximately)	960.000

The above information has been parted by Chari [Commercial Manager]

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.91	1.81	2.12
Net Profit Margin (PBT/Sales)	(%)	2.88	2.60	3.32
Return on Total Assets (PBT/Total Assets}	(%)	5.00	3.69	3.16
Return on Investment (ROI) (PBT/Networth)		0.22	0.22	0.20
Debt Equity Ratio (Total Debt/Networth)		0.80	0.77	1.04
Current Ratio (Current Asset/Current Liability)		1.32	1.03	0.91

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	No
17]	Major suppliers	No
18]	Major customers	No
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	Yes

UNSECURED LOANS

Unsecured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
From Directors and Shareholders	22.311	4.900
Inter-corporate Loan	12.700	0.000
Total	35.011	4.900

Note:

The registered office of the company has been shifted from 12-13-1085/21, Street No. 1, Tarnaka, Hyderabad, Andhra Pradesh, India to the present address w.e.f. 15.05.2006

FIXED ASSETS:

· Factory Land

· Factory Building

· Pollution Control Plant

· Lab Equipment

· Plant and Machinery

· Furniture and Fixtures

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. 59.41
UK Pound	1	Rs. 90.74
Euro	1	Rs. 78.11

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	4
--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	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		44

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.