MIRA INFORM REPORT

Report Date :

08.06.2013

IDENTIFICATION DETAILS

Name :	HEALTHCARE GLOBAL ENTERPRISES LIMITED [w.e.f.05.07.2006]
Formerly Known As :	HEALTHCARE GLOBAL ENTERPRISES PRIVATE LIMITED CURIE CENTRE OF ONCOLOGY PRIVATE LIMITED
Registered Office :	HCG Tower, No.8, P. Kalinga Rao Road, Sampangi Rama Nagar, Bangalore-560 027, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	12.03.1998
Com. Reg. No.:	08-23489
Capital Investment / Paid-up Capital :	Rs. 592.717 Millions
CIN No.: [Company Identification No.]	U15200KA1998PLC023489
TAN No.: [Tax Deduction & Collection Account No.]	BLRC01355E
PAN No.: [Permanent Account No.]	AAACC8412H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in setting up and managing cancer hospitals, cancer centers and medical diagnostic services, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 8420000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established and reputed company having a satisfactory track record. There appears some loss during 2012. However, the company has recorded better growth in its sales in 2012. Networth of the company is strong. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

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

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 :	HCG Tower, No.8, P. Kalinga Rao Road, Sampangi Rama Nagar, Bangalore-560 027, Karnataka, India
Tel. No.:	91-80-40206000/ 33669999/ 40206232
Fax No.:	91-80-22485962
E-Mail :	vasudeva@hcgonclolony.com sunumanuel@hcgoncology.com info@hcgoncology.com venkatp@hcgoncology.com NARENDRA@HCGONCOLOGY.COM SANTHOSH@HCGONCOLOGY.COM
Website :	http://www.hcgoncolony.com

DIRECTORS

As on : 29.09.2012

Name :

Dr. Basavalinga Ajaikumar Sadashivaiah

Designation :

Whole Time Director

Address :

No.850, Park House, Mirza Road, Nazarbad, Mysore-570 010, Karnataka, India

Date of Birth/Age :

22.08.1951

Date of Appointment :

14.07.2006

Din No.:

00713779

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	U85110KA1989NPL009862	SADA SHARADA TUMOR AND RESEARCH INSTITUTE	Director	20-02-89	20-02-89	-	Active	NO
2	U33125KA1991PTC012382	SADA SHAPADA DIAGNOSTIC UROLOGY AND REHABILITATION CENTRE PRIVATE LIMITED	Director	04-10-91	04-10-91	-	Active	NO
3	U85110KA1986PLC007953	BANASHANKARI MEDICAL AND ONCOLOGY RES.CENTRE P.LIMITED	Director	29-09-93	29-09-93	-	Amalgamated	NO
4	U85110KA1997PTC022149	MALNAD HOSPITAL AND INSTITUTE OF ONCOLOGY PRIVATE LIMITED	Director	23-04-97	23-04-97	-	Active	NO
5	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Whole-time director	14-07-06	07-03-00	-	Active	NO
6	U85310KA2000NPL027870	SADA SHARADA HUMAN DEVELOPMENT AND UPLIPMENT ACADEMY	Director	29-09-00	29-09-00	-	Active	NO
7	U85110KA2003PTC032774	HEALTHCARE GLOBAL ASSOCIATES PRIVATE LIMITED	Director	22-10-03	22-10-03	-	Strike off	NO
8	U07010KA2005PTC035463	KRUTI DESIGNERS AND CONTRACTORS PRIVATE LIMITED	Director	24-01-05	24-01-05	-	Active	NO
9	U85110TZ2005PTC011740	HEALTHCARE GLOBAL SENTHIL MULTI SPECIALTY HOSPITALS PRIVATE LIMITED	Director	18-04-05	18-04-05	-	Active	NO
10	U05190KA2005PTC036417	HEALTHCARE GLOBAL ADVANCED ISOTOPES PRIVATE LIMITED	Director	30-05-05	30-05-05	-	Dissolved	NO
11	U85110KA2005PTC036422	HEALTHCARE GLOBAL ADVANCED MEDICAL IMAGING PRIVATE LIMITED	Director	30-05-05	30-05-05	-	Dissolved	NO
12	U85195KA2003PTC043638	TRIESTA SCIENCES (INDIA) PRIVATE LIMITED	Director	04-01-06	04-01-06	-	Amalgamated	NO
13	U85110GJ2000PTC037474	HCG MEDI-SURGE HOSPITALS PRIVATE LIMITED	Director	24-09-07	19-07-07	-	Active	NO
14	U85190KA2007PTC044237	HealthCare Global Vijay Oncology Private Limited	Director	29-10-07	29-10-07	-	Active	NO
15	U85110KA2007PTC044658	MIMS HCG ONCOLOGY PRIVATE LIMITED	Director	13-12-07	13-12-07	-	Active	NO
16	U72200KA2008PTC045049	HEALTHCARE PROCESS SOLUTIONS (INDIA) PRIVATE LIMITED	Director	25-01-08	25-01-08	-	Active	NO
17	U85110KA2008PTC045912	HCG TVH MEDICAL IMAGING PRIVATE LIMITED	Director	03-04-08	03-04-08	-	Active	NO
18	U85191UP2011PTC045234	HCG REGENCY ONCOLOGY HEALTHCARE PRIVATE LIMITED	Additional director	29-11-12	29-11-12	-	Active	NO
19	U85191KA2012PTC067393	HCG PINNACLE ONCOLOGY PRIVATE LIMITED	Director	26-12-12	26-12-12	-	Active	NO
20	U74140KA2002PTC030098	BACC HEALTH CARE PRIVATE LIMITED	Additional director	22-03-13	22-03-13	-	Active	NO
21	AAA-0280	HEALTHCARE DIWAN CHAND IMAGING LLP	Body corporate as Designated Partner	15-10-09	15-10-09	-	Active	NO
22	AAA-1634	MALNAD HI-TECH DIAGNOSTIC CENTRE LLP	Designated Partner	21-06-10	21-06-10	-	Active	NO
23	AAB-1886	GUTTI MALNAD HOSPITAL LLP	Designated Partner	30-10-12	30-10-12	-	Active	NO

Name :

Dr. Ganesh Nayak

Designation :

Director

Address :

No.8, 7^th Cross Jakkasandra Blk, Koramangala, Bangalore-560034, Karnataka, India

Date of Birth/Age :

27.05.1943

Date of Appointment :

21.12.2005

Din No.:

00540697

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	U85110KA1986PLC007953	BANASHANKARI MEDICAL AND ONCOLOGY RES.CENTRE P.LIMITED	Managing director	31-08-07	30-09-92	-	Amalgamated	NO
2	U05190KA2005PTC036417	HEALTHCARE GLOBAL ADVANCED ISOTOPES PRIVATE LIMITED	Director	30-05-05	30-05-05	-	Dissolved	NO
3	U85110KA2005PTC036422	HEALTHCARE GLOBAL ADVANCED MEDICAL IMAGING PRIVATE LIMITED	Director	30-05-05	30-05-05	-	Dissolved	NO
4	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Director	21-12-05	21-12-05	-	Active Bottom of Form

Name :

Mr. Gangadhara Ganapati

Designation :

Director

Address :

T.84, B, 29^th Cross Street, Besant Nagar, Chennai-600 090, Tamilnadu, India

Date of Birth/Age :

01.04.1966

Date of Appointment :

21.12.2005

Din No.:

00489200

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	U85195KA2003PTC043638	TRIESTA SCIENCES (INDIA) PRIVATE LIMITED	Director	01-09-03	01-09-03	-	Amalgamated	NO
2	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Director	21-12-05	21-12-05	-	Active	NO
3	U24100KA2007PTC049036	ADAMAS INDIA PHARMACEUTICALS PRIVATE LIMITED	Managing director	04-05-07	04-05-07	-	Active	NO
4	U74140KA2002PTC030098	BACC HEALTH CARE PRIVATE LIMITED	Additional director	22-03-13	22-03-13	-	Active	NO

Name :

Mr. Sayed Parvez Mustafa

Designation :

Director

Address :

4, Almambra, 1^st Floor, 3 Carmichael road, Mumbai-400 026, Maharashtra, India

Date of Birth/Age :

01.07.1949

Date of Appointment :

23.04.2008

Din No.:

00014427

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	U65990MH1958PLC011060	HINDLEVER TRUST LIMITED	Director	29-05-00	29-05-00	07-12-07	Active	NO
2	U67120MH1994PTC082045	DIGITAL SECURITIES PRIVATE LIMITED	Director	26-06-02	26-06-02	07-12-07	Active	NO
3	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Nominee director	23-04-08	23-04-08	-	Active	NO
4	U74140MH2001PTC134220	HSBC ASSET MANAGEMENT (INDIA) PRIVATE LIMITED	Director	02-09-08	02-09-08	-	Active	NO
5	U34200DL2008PTC172214	CARNATION AUTO INDIA Private LIMITED	Nominee director	23-10-08	23-10-08	09-05-11	Active	NO
6	U52190KA1997PTC046775	LIFE STYLE INTERNATIONAL PRIVATE LIMITED	Director	05-09-11	02-11-10	-	Active	NO

Name :

Mr. Prakash Parthasarathy

Designation :

Director

Address :

#347, 2^nd Phase, White Field Road, Adarsh Palm, Meadows, Ramagondanhalli, Bangalore-560 066, Karnataka, India

Date of Birth/Age :

04.03.1971

Date of Appointment :

23.04.2008

Din No.:

02011709

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	U55101KA2005PTC035580	WILDERNESS RESORTS PRIVATE LIMITED	Additional director	12-10-07	12-10-07	16-12-08	Active	NO
2	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Nominee director	23-04-08	23-04-08	-	Active	NO
3	U34200DL2008PTC172214	CARNATION AUTO INDIA Private LIMITED	Nominee director	23-10-08	23-10-08	-	Active	NO
4	U74899DL1976PTC008436	FAB INDIA OVERSEAS PRIVATE LIMITED	Director	31-07-12	22-02-12	-	Active	NO
5	U67120MH1992PLC069769	NATIONAL STOCK EXCHANGE OF INDIA LTD.	Director	27-09-12	30-05-12	-	Active	NO
6	U74999MH2004PTC175698	JSM CORPORATION PRIVATE LIMITED	Nominee director	21-12-12	21-12-12	-	Active	NO

Name :

Mr. Anantkumar Srinivasrao Kulkarni

Designation :

Director

Address :

A 2002, Royal Residency, Lalbaug Industrial Estate Area, Chivada Galli, Mumbai-400012, Maharashtra, India

Date of Birth/Age :

22.02.1967

Date of Appointment :

29.09.2011

Din No.:

02078034

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	U22220TN2007PTC065507	LEXICON PUBLISHING SERVICES PRIVATE LIMITED	Director	25-02-08	25-02-08	14-06-11	Active	NO
2	U74899DL1982PTC013139	SONA AUTOCOMP HOLDING PRIVATE LIMITED	Nominee director	18-03-08	18-03-08	06-09-11	Active	NO
3	U27300DL1995PLC073456	SONA OKEGAWA PRECISION FORGINGS LIMITED	Director	07-08-09	07-06-08	06-09-11	Active	NO
4	U24290MH2008PTC181015	GINDE LIFESCIENCES PRIVATE LIMITED	Additional director	20-08-09	20-08-09	-	Amalgamated	NO
5	U85195MH1995PTC094852	DIAGNOSEARCH LIFE SCIENCES PRIVATE LIMITED.	Nominee director	29-09-10	20-08-09	14-06-11	Active	NO
6	U80302RJ2007PTC024029	RESONANCE EDUVENTURES PRIVATE LIMITED	Director	27-07-11	22-07-11	-	Active	NO
7	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Nominee director	29-09-11	29-09-11	-	Active	NO
8	U72900PN2012PTC142267	VIRTUAL SIMUTECH PRIVATE LIMITED	Director	14-02-12	14-02-12	-	Active	NO
9	U15499TN1998PLC041231	CAPRICORN FOOD PRODUCTS INDIA LIMITED	Nominee director	03-04-13	03-04-13	-	Active	NO

Name :

Dr. Amit Varma

Designation :

Director

Address :

49 B, Aradhana Enclave, RK Puram, Sector 13, Ring Road, New Delhi-110066, India

Date of Birth/Age :

15.09.1968

Date of Appointment :

23.03.2010

Din No.:

02241746

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	U85110DL2008PLC176522	FORTIS HOSPITAL MANAGEMENT LIMITED	Director	22-09-09	30-05-08	17-02-10	Active	NO
2	U93090MH2009PTC191515	MILESTONE RELIGARE INVESTMENT ADVISORS PRIVATE Limited	Director	20-05-10	08-04-09	-	Active	NO
3	U85121DL2006PLC148330	RELIGARE WELLNESS LIMITED	Director	30-09-09	10-07-09	20-12-12	Active	NO
4	U55101AP1973PLC040558	KRISHNA INSTITUTE OF MEDICAL SCIENCES LIMITED	Alternate director	02-08-12	26-11-09	-	Active	NO
5	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Nominee director	23-03-10	11-02-10	-	Active	NO
6	U66000DL2007PLC161503	RELIGARE HEALTH INSURANCE COMPANY LIMITED	Director	09-08-10	22-04-10	-	Active	NO
7	U85195DL1999PTC217659	SRL DIAGNOSTICS PRIVATE LIMITED	Nominee director	31-10-11	20-08-10	23-05-12	Active	NO
8	L72300DL2009PLC190552	HEALTHFORE TECHNOLOGIES LIMITED	Director	20-09-11	11-10-10	21-12-12	Active	NO
9	U74899DL1995PLC070603	SRL LIMITED	Director	05-09-11	04-02-11	23-05-12	Active	NO
10	U67190DL2011PLC221903	RELIGARE INVESTMENT ADVISORS LIMITED	Director	05-07-11	05-07-11	27-01-12	Active	NO
11	U74999DL2013PTC248716	QUADRIA CAPITAL INVESTMENT ADVISORS PRIVATE LIMITED	Director	26-02-13	26-02-13	-	Active	NO

Name :

Dr. Gopinath Kodaganur Srinivasachar

Designation :

Director

Address :

# 20, Sainivas, 5^th Main , 5^th Cross, BSK 3^rd Stage, Behind Balaji, Choultry BG, Bangalore-560085, Karnataka, India

Date of Birth/Age :

27.03.1952

Date of Appointment :

30.09.2006

Din No.:

00517895

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	U85110KA1986PLC007953	BANASHANKARI MEDICAL AND ONCOLOGY RES.CENTRE P.LIMITED	Director	07-10-02	07-10-02	-	Amalgamated	NO
2	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Director	30-09-06	14-07-06	-	Active	NO

Name :

Mr. Prakash Vishweshswaraiah

Designation :

Additional Director

Address :

No.58, 5A Main, Vontikoppal, Mysore – 570002, Karnatak, India

Date of Birth/Age :

23.11.1951

Date of Appointment :

12.12.2012

KEY EXECUTIVES

Name :	Mr. Sunu Manuel
Designation :	Company Secretary
Address :	81/1, 5th Cross Wilson Garden, Bangalore, Karnataka, India
Date of Birth/Age :	02.06.1978
Date of Appointment :	14.07.2006
Pan No.:	ANMPM3149B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 29.09.2012

Shareholders details file Attached

Equity Share Break up (Percentage of Total Equity)

As on : 29.09.2012

Category	Percentage
Venture Capital	42.34
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	9.09
Bodies corporate	4.34
Directors or relatives of Directors	33.00
Other	11.23
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in setting up and managing cancer hospitals, cancer centers and medical diagnostic services, etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Rod, Worli, Mumbai-400018, Maharashtra, India

Facilities :

Rs in Millions

SECURED LOAN	31.03.2012	31.03.2011
Long Term Loans	401.715	625.110
Rupee Term Loan from Bank	41.250	0.000
Loans Repayable on Demand	469.626	138.945
Total	912.591	764.055

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Deloitte Centre, Anchorage II, 100/2 Richmond Road, Bangalore -560 025, Karnataka, India
PAN No.:	AACFD3771D
Subsidiaries :	· Malnad Hospital and Institute of Oncology Private Limited, India CIN No : U85110KA1997PTC022149 · HealthCare Global Senthil Multi Specialty Hospitals Private Limited, India CIN No : U85110TZ2005PTC01174 · HealthCare Global Vijay Oncology Private Limited, India CIN No :U85190KA2007PTC044237 · HCG Medi-Surge Hospitals Private Limited, India CIN No : U85110GJ2000PTC037474 · MIMS HCG Oncology Private Limited, India CIN No : U85110KA2007PTC044658 · HCG TVH Medical Imaging Private Limited, India CIN No : U85110KA2008PTC045912 · Healthcare Diwan Chand Imaging LLP
	·
Other Related Parties :	· Healthcare Process Solutions (India) Private Limited CIN No : U72200KA2008PTC045049 · JSS Bharath Charitable Trust

CAPITAL STRUCTURE

As on : 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
65000000	Equity Shares	Rs.10/- each	Rs.650.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
59271741	Equity Shares	Rs.10/- each	Rs. 592.717 Millions

After : 29.09.2012

Authorised Capital : Rs. 1200.000 Millions

Paid-up Capital : Rs. 664.997 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		592.717	533.035	520.402
2] Share Application Money		0.000	73.940	0.000
3] Reserves & Surplus		1514.632	1087.359	1073.574
4] (Accumulated Losses)		0.000	0.000	(240.988)
NETWORTH		2107.349	1694.334	1353.088
LOAN FUNDS
1] Secured Loans		912.591	764.055	188.266
2] Unsecured Loans		593.175	161.865	42.009
TOTAL BORROWING		1505.766	925.920	230.275
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3613.115	2620.254	1583.363
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2862.725	2066.531	532.692
Capital work-in-progress		26.734	5.231	7.131
INVESTMENT		367.607	299.136	934.844
DEFERRED TAX ASSETS		14.392	18.900	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	59.343	46.896	15.079
	Sundry Debtors	407.768	276.252	113.542
	Cash & Bank Balances	138.938	38.498	19.009
	Other Current Assets	141.541	55.955	0.000
	Loans & Advances	372.154	409.914	181.443
Total Current Assets		1119.744	827.515	329.073
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	306.433	324.492	172.508
	Other Current Liabilities	442.988	243.029	38.145
	Provisions	28.666	29.538	9.724
Total Current Liabilities		778.087	597.059	220.377
Net Current Assets		341.657	230.456	108.696
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3613.115	2620.254	1583.363

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	2043.224	1620.023	662.004
		Other Income	36.368	10.718	13.094
		TOTAL (A)	2079.592	1630.741	675.098
Less	EXPENSES
		Purchase of Stock in trade	716.573	546.393
		Changes in Inventories	(12.447)	(21.102)
		Employee Related Expenses	315.431	258.510
		Other Expenses	691.688	562.259
		TOTAL (B)	1711.245	1346.060	693.165
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		368.347	284.681	(18.067)
Less	FINANCIAL EXPENSES (D)		208.321	109.174	13.543
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		160.026	175.507	(31.610)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		180.649	135.309	63.579
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(20.623)	40.198	(95.189)
Less	TAX (H)		4.508	(5.190)	0.000
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(25.131)	45.388	(95.189)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	(240.988)	(145.799)
	BALANCE CARRIED TO THE B/S		NA	NA	(240.988)
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	0.000	24.259	5.450
		Medical Service Income	72.677	0.000	0.000
	TOTAL EARNINGS		72.677	24.259	5.450
	IMPORTS
		Consumables	0.000	5.149	0.000
		Raw materials	7.280	5.149	0.000
		Capital Goods	156.572	181.161	45.201
	TOTAL IMPORTS		163.852	186.310	45.201
	Earnings / (Loss) Per Share (Rs.)
	Basic		(0.45)	0.86	(1.97)
	Diluted		(0.45)	0.85	(1.97)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(1.21)	2.78	(14.10)
Net Profit Margin (PBT/Sales)	(%)	(1.01)	2.48	14.38
Return on Total Assets (PBT/Total Assets}	(%)	(0.52)	1.39	(11.05)
Return on Investment (ROI) (PBT/Networth)		(0.01)	(0.02)	(0.07)
Debt Equity Ratio (Total Debt /Networth)		0.71	0.55	0.17
Current Ratio (Current Asset/Current Liability)		1.44	1.39	1.49

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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FINANCIAL RESULTS:

A very quick look at the numbers shows that the Company had made a commendable financial performance with revenue growth from Rs. 2191.000 Millions to Rs. 2737.000 Millions marking a growth

Over 25%, while the EBIDTA grew from Rs. 403.000 Millions to Rs. 471.000 Millions, marking a remarkable growth of over 17%, as compared to the previous financial year. This achievement is a result of extensive efforts put in by the management for growing revenue, improving gross margins and generating efficiencies through increased productivity and leveraging scale.

During the financial year, as a business strategy to ensure continuance of operations of some of the hospitals in prime locations, envisaging business certainty, branding and visibility, and proximity to the public, the Company has crystallized the real estate in these prominent locations, on a long term basis. As a result, the Company has recognized the value of the long term lease as per Accounting Standards -19, and has provided for the discounted value, equally spread over the entire period of lease. Consequently, there has been a steep increase in the depreciation and interests costs. Due to this reason, the Company has reported a Loss before tax of Rs. 6.300 Millions, as against a Profit before Tax of Rs. 91.200 Millions in the last financial year ended March 31, 2011. This has already been factored for the coming years; and the financial projections have been made accordingly. They expect the bottom line to be back to positive in FY 2012-13, and will continue to focus and drive bottom line results through revenue growth, improved patient care, reduced cost and a special focus on process management at all levels of the organization.

To support the overall growth as an enterprise, we have continued to invest in medical equipment and technology to ensure that our doctors, nurses and administrators have the very best resources at their disposal. On the cost management front, we have made and are continuously exploring innovative ways to reduce costs at all levels and this has shown encouraging results. This initiative works to leverage the strengths of our growing network of hospitals by using size and scale to reduce SG and A and other costs. In addition to cost management, we are working towards strengthening our processes to drive efficiency in our system to bring in a common operating system to all our hospitals standardizing all key patient related activity. Hence, apart from driving efficiency, it also helps in delivering a common brand experience to all patients visiting our hospitals.

The Company made further strides in implementing its strategic growth and development initiatives across various facets of the Organization. Expanding and deepening the footprint of network hospitals has helped us to touch increasing number of lives during the year and the Company continues to strive towards improving the value proposition it offers to the patients and general public.

BUSINESS AND OUTLOOK :

The financial year 2010-12 has been an eventful year. While their emphasis remains on growth in the domestic market, we clearly have ambitions of taking the HCG value proposition international. They will continue to explore opportunities abroad, as They pursue their ambition to become one of the best Oncology Institution in the world, while They sustain the position of being South Asia’s largest cancer care network. They are convinced that the benefits realized from such platforms are many, including access to a wider talent pool, cost savings on account of economies of scale and environment of cross-pollination in terms of learning and experience.

The company continues to invest in strong operating systems, robust processes and talented people, with an unwavering focus on medical excellence and patient-centric cancer care. Their business model builds the strength of their accumulated experience and extensive domain knowledge of the sector. They continue to evolve, as They walk the path of ever improving quality, with an eye on delivering reliable, accessible and affordable cancer care of the global standard.

Today, the company is proud to state that it gives hope to over 30,000 new patients visiting their Centres every year, for cancer care. While it is humbling to think of the impact They make each day on the thousands of people that seek their care, knowledge of the vastly inadequate infrastructure in the oncology space in their country only adds to the burden of the responsibility They bear, as a leading cancer care provider in the country. They clearly have an integral role to play in India’s development; and a duty to deliver quality care, with a compassionate approach, in a caring environment, to those that need it.

Thinking and rethinking, observing and analyzing; one needs to constantly scrutinize and come up with new strategies in order to improve overall efficiency. The objective should always be to make a difference between where one was yesterday and where one is today. The Company’s future growth strategy will be driven by certain key factors such as:-

· Sustain leadership in Oncology space; and continue to build focused Centers of Excellence with best technology, facilities and clinical practices;

· Establishing presence in key strategic markets; and to leverage the brand strength to become the dominant healthcare provider, by providing additional services in dominant clusters;

· Expansion through both Greenfield projects and acquisition of hospitals;

· Enhanced revenue momentum driven by robust geographical growth, capacity utilisation and enhancement;

· Maximizing operating efficiencies and profitability across their network; including reduction of costs at all levels and to leverage the strengths of their growing network of hospitals by using size and scale to reduce SG and A and other costs;

· Capital efficient expansion into target geographies to deliver affordable cancer care;

· Enhance their engagement models and offerings and to pursue alliances and strategic acquisitions that seed and build strategic businesses that support core value proposition;

· Implement stringent capital norms for each delivery format, and to strategically invest in medical equipment and technology, to ensure that their doctors, nurses and administrators have the very best resources at their disposal and develop deep industry knowledge;

· Enhance brand visibility and to deliver a common brand experience to all patients visiting their hospitals;

· Operational improvement by strengthening their processes to drive efficiency in their system and to bring in a common operating system to all their hospitals standardizing all key patient related activity;

· Attractive Return on Capital Employed through higher operating profits and better capital utilisation; and a strong balance sheet with contained debt level;

· Strengthen the confidence building Patients and Investors

HCG aspires to adopt best corporate governance practices while sustaining and strengthening their brand as the fastest growing oncology network in South Asia. Their eminent Board of Directors advice and guide us on policies and proposals made by the operating management. The Board, acting through empowered committees, also oversees the operations and management of the company. The committees also guide the management to continuously upgrade standards, highlight any potential conflicts of interest, and ensure that fair disclosures are made at all times.

They are happy to inform you that their Bangalore facilities have received NABH Accreditation, making us one of the few hospitals that are members of an elite group of quality healthcare providers. They are also proud to state that their Triesta Reference Laboratory has received accreditation from NABL and CAP. They aim to get all their hospitals NABH Accredited / NABH prepared and in the process, standardize their services across the group and strengthen their bottom line. The company also has international aspirations in terms of served patients, and with leading accreditations, is rightly placed to offer unbeatable Medical value travel propositions. They already cater to international patients, and with the economic pressures being faced by Western economies, are ready to play a larger role in providing quality healthcare services at attractive cost. They are evenly poised to aggressively expand their network, establish brand leadership, and emulate a business model which generates adequate returns for the shareholders. This will help us to maintain the position of being the Fastest growing Oncology brand in South Asia.

NEW CENTRES, UPCOMING FACILITIES AND NEW INITIATIVES :

1. HCG Onco Centre, Ahmedabad: comprehensive cancer center on 29th January, 2011, at Ahmedabad, Gujarat. The hospital has state of the art facilities, the best of medical expertise and is equipped with advanced technologies like True Beam, an advanced radiation therapy in the treatment of cancer; thus affirming HCG’s position as leaders in bringing the cutting edge technology for treatment and affordable cancer care to India. This comprehensive cancer center was inaugurated by renowned super star Sri Amitabh Bachchan.

2 They are pleased to inform you that the Company has taken over the management of the Oncology division of Dr. BNH HCG Onco Centre: Balabhai Nanavati Hospital, Mumbai, since May 2012. Nanavati is amongst the leading hospitals of Mumbai and commands significant brand recall, and the second largest oncology hospital in Greater Mumbai City. This Centre would serve as an entry through a vantage location in Mumbai, the financial capital; and also would reap benefits of strong brand name, re-affirming HCG’s brand positioning of quality, affordable cancer care; including access to a loyal clientele and multi-specialty infrastructure.

3 The Company has set up an exclusive centre for breast health by name HCG Centre for Breast Health, in HCG Centre for Breast Health: Pune. HCG Center for Breast Health in addition to providing diagnosis, staging and proper treatment to women diagnosed with breast cancer; would also disseminate information about Breast Cancer incidence and educate women about the early detection of Breast Cancer and create awareness in women about lifestyle changes that could actually decrease the incidence of Breast Cancer.

4 The Company is in the process of setting up some of its facilities in Delhi, Mumbai, Ongole, Upcoming facilities and New Initatives: Chennai, Pune, Kolkata, Vijayawada and Vishakapatanam. As a part of international expansion, we are also reaching out to Africa and Middle East, where the demand supply gap of quality care is quite aberrant. In order to establish our presence in key strategic markets; and to leverage the brand strength to become the dominant healthcare provider and to enhanced the revenue momentum, we feel it is imperative to do multi specialty selectively, in both green and brown field; which we believe, we have the vision and the expertise to execute these projects effectively.

ACHIEVEMENTS DURING THE YEAR

1 They are happy to inform you all that HCG- Bangalore, is the First cancer center in India to be accredited by NABH, NABL and CAP first cancer center in India, to achieve accreditation from National Accreditation Board for Hospitals and Healthcare Providers, (NABH) 7 HEALTHCARE GLOBAL ENTERPRISES LIMITED Standalone Balance Sheet for period 01/04/2011 to 31/03/2012 Government of India, College of American Pathologists (CAP), State of Illinois, and National Accreditation Board for Testing and Calibration Laboratories (NABL), Government of India. The combined accreditation for quality from three distinguished accreditation bodies was possible because of HCG’s focus on robust process for patient quality, efficient practice of diagnosis and improvements in medical outcome.

2 Frost and Sullivan award for Oncology leader of the year award 2011- 2012 : HCG for the second consecutive year, won The Frost and Frost and Sullivan award for Oncology leader of the year award 2011-2012 : Sullivan Oncology leader of the year award 2011 -2012. Frost and Sullivan Excellence in Healthcare Awards are presented to companies in lifescience / healthcare sectors, demonstrating best practices in a variety of regional and global markets. They recognize the superior planning and execution of product launches, strategic alliances, distribution strategies, technological innovations, customer service, healthcare delivery services and mergers and acquisitions.

3 The Ernst & Young Entrepreneur of The Year Award : Dr B S Ajaikumar, Chairman and CEO, has been honoured with the most prestigious The Ernst and Young Entrepreneur of The Year Award: Ernst and Young award in the Start up Category as the Entrepreneur of the Year 2011. Ernst and Young Entrepreneur of The Year is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst and Young Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in 50 countries.

4 CII Business Line Emerging Entrepreneurs Awards : Dr B S Ajaikumar, Chairman and CEO has also been conferred the CII Regional CII-Business Line Emerging Entrepreneurs Awards: Emerging Entrepreneurs Award for the year 2011, for the new marketing initiatives and contribution made by HCG in Healthcare space. The Confederation of Indian Industry and The Hindu Business Line have jointly instituted the CII Regional Emerging Entrepreneurs Awards, which in the second edition this year has been expanded to cover South India and covered areas of business including entertainment, online retail, food processing, healthcare and ITES.

.5 Introduction of TrueBeam and PreScision Artiste Technology for the first time in Asia : They are the first hospital in Asia to introduce the Introduction of TrueBeam and PreScision Artiste Technology for the first time in Asia: Varian TrueBeam Technology and Siemens PreScision Artiste in cancer treatment, the latest technology in cancer treatment at our centres at Bangalore and Ahmedabad

UNSECURED LOAN :

Rs. in Millions

Particulars	31.03.2012	31.03.2011
Long term Loans	593.175	0.000
Long term Borrowings	0.000	161.865
Total	593.175	161.865

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U15200KA1998PLC023489
Name of the company	HEALTHCARE GLOBAL ENTERPRISES LIMITED
Address of the registered office or of the principal place of business in India of the company	HCG Tower, No.8, P. Kalinga Rao Road, Sampangi Rama Nagar, Bangalore – 560027, Karnataka, India Email : sunumanuel@hcgoncology.com
This form is for	Modification of charge
Charge identification number of the modified	10354150
Type of charge	· Book Debts · Movable Property (not being pledge) · Others: Current Assets and Recievables
Particular of charge holder	Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Rod, Worli, Mumbai-400018, Maharashtra, India CIN No.: L65190MH2003PLC143249 Email : shareholders@yesbank.in
Nature of description of the instrument creating or modifying the charge	Supplemental deed of Hypothecation dated 04/03/2013
Date of instrument Creating the charge	04/03/2013
Amount secured by the charge	Rs. 400.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest Cash Credit: 2.00% + YBL Base rate( YBL rate as on date is 10.50%) Letter of Credit (sight) - Commission of 1% p.a Letter of Credit (Usance) - commission of 1.15% p.a Terms of Repayment Cash Credit - 12 months Letter of Credit (Sight)- 6 months Letter of Credit (Usance) - 6 months Margin 25% on {book debts(<180 days for non Govt. schemes and <240 days for Govt schemes)}. Debtors "considered good" to be considered. Extent and Operation of the charge First pari-passu charge on current assets and receivables (both present and future) of HCGEL; Second pari-passu charge on movables fixed assets (both present and future) of HCGEL Exclusive charge on current assets and all the receivables (both present and future) and movable fixed assets (both present and future, not charged exclusively to any lender) of HCG-BNH
Short particulars of the property charged	1. First pari-passu charge on current assets and receivables (both present and future) of HCGEL 2. Second pari-passu charge on movables fixed assets (both present and future) of HCGEL 3. Exclusive charge on current assets and all the receivables and movable fixed assets (both present and future, not charged exclusively to any lender) of HCG-BNH
Date of latest modification prior to the present modification	04/05/2012
Particulars of the present modification	Charge created vide deed of Hypothecation dated 04.05.2012 for Rs 5.000 Millions bearing charge ID 10354156, is now modified vide supplemental deed of Hypothecation dated 04.03.2013 for credit facilities for Rs 400.000 Millions.

FIXED ASSETS:

· Plant and Machinery

· Vehicles

· Data Processing Equipment

· Office Equipment

· Furniture and Fixture

· Electrical Installations

· Lab Equipment

PRESS RELEASE :

Update: Temasek Invests In Premji Backed Healthcare Global Enterprises

Dated : 11 March 2013

Singapore government’s investment vehicle, Temasek Holdings, has invested R140 Cr in South India headquartered Healthcare Global Enterprises (HCG), as stated by ET.

It also adds a valuation figure of HCG at R1,000 Cr with founder BS Ajaikumar holding back 26-28% stake.

With the latest round, Evolvence Capital, which had put in R30 Cr in the firm in 2007, has marked its exit with a return of around 2.3x.

The company is expected to double its network to 50 centers in India and Africa and also enter the multi-speciality space with the new funds.

KVEZAR

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Last October, news flow had suggested that HCG was looking to raise $100 Mn and was in talks with Temasek and PE firm KKR.

It was then said that the funds would be used to buyout part stakes of existing investors which include Milestone Religare, Premji Invest and Evolvence India Fund.

While its first round was raised from IDFC PE (R50 Cr), Premji Invest had invested $20 Mn in HCG (in 2008) and Milestone had invested $6.85 Mn through its India Build Out Fund- I (in 2010), which saw IDFC PE exiting the

firm.

Founded in 1989, Bangalore-based HCG owns and manages a network of cancer treatment centers in India. It focuses on cancer care, diagnostics, imaging, research, and clinical trials services.

It has more than 23 cancer centers across India and in Africa providing cancer care treatment, imaging, laboratory services, clinical trials and research services.

Healthcare space (particularly the life sciences and allied healthcare segments) is gaining some ground with the PE investors lately.

Last year in June, ICICI Venture and Religare Milestone were planning to exit in Medica Synergie - Healthcare Global merger. Medica Synergie and Healthcare Global were planning to merge in a deal estimated at Rs. 3000.000 Millions.

ICICI Venture invested in Medica Synergie through its investment arm I-Ven Medicare and holds around two third stake in the company.

Norwest Venture Partners invested Rs. 250.000 Millions for a minority stake in Nation Wide Primary Healthcare Services. NVP also invested Rs. 220.000 Millions in radiology diagnostics company and division of Thyrocare Group and GE Healthcare –

Nuclear Healthcare.

Sequoia Capital backed Moolchand Healthcare acquired Pankaj Apollo Hospital, a 200-bedded tertiary care hospital in Agra earlier this year in January.

TEMASEK INVESTS RS 130 CR IN HEALTHCARE GLOBAL ENTERPRISES

March 11, 2013

NEW DELHI: Bangalore-based HealthCare Global Enterprises (HCG) today said Singapore government-owned investment company Temasek Holdings has picked up stake in it.

While the company did not disclose details such as the amount of stake picked up and its valuation, sources said Temasek has made an investment of Rs 130 crore in the Indian firm, which is a specialist in cancer care.

HEALTHCARE GLOBAL ENTERPRISES, GE HEALTHCARE TO SET UP CANCER CARE CENTRE IN BANGALORE

April 17, 2013

Bangalore: Healthcare Global Enterprises (HCG) and GE Healthcare on Wednesday announced a new partnership agreement to work together and elevate cancer care infrastructure in India. An initial pilot project setting up a cancer care centre in Bangalore will be the first step in this direction and GE will be the technology partner in this endeavour. This new partnership adds to the existing collaboration between GE and HCG on cancer biomarkers for improved cancer management.

“At GE, we envision a day when cancer is no longer a deadly disease. Scaling up of cancer care at affordable costs requires disruptive solutions and willing partners. Their renewed partnership with Healthcare Global Enterprises, their long standing partner and expert in the fight against cancer, we hope to propel one of the most critical needs in cancer care in India – access to early detection and treatment technologies, education and building awareness,” said John Dineen, president and CEO, GE Healthcare.

Dr. B S Ajaikumar, chairman, HCG Enterprise, said, “The fight against cancer requires more willing partners. This partnership is not limited to GE and HCG alone. We hope to attract healthcare providers and investors join us in this journey.”

Cancer is one of the leading causes of death in India, with about 2.5 million cancer patients, 1 million new cases added every year and with a chance of disease rising five-fold by 2025, the Indian Council of Medical Research (ICMR) has urged the government of India to make Cancer a notifiable disease.

There is a high probability of treating cancers if detected early — in Stage-I or Stage-II. As per a Boston Consulting Group study, 70-80 per cent of cancer patients are diagnosed late when treatment is less efficient and 60 per cent of them do not have access to quality cancer treatment.

Out of over 300 cancer centres in India, 40 per cent are reportedly not adequately equipped with advanced cancer care equipment. The Boston Consulting Group study further suggests India will need at least 600 additional cancer care centres to meet the requirements by 2020.

According to GE and HCG, the pilot project in Bangalore is expected to provide insights into methods of cost effective and quality cancer care. With insights from this project and by partnering with like-minded investors / healthcare providers, GE and HCG hope to scale up and spread the cancer detection and treatment facilities to Tier II and III towns, through a proposed hub and spoke business model. GE and HCG also propose to address the challenges of shortage of skilled manpower through education facilities and enhance disease awareness among general practitioners and patients.

Dr Ajaikumar said, “GE is a technology leader with tremendous expertise in R and D and disruptive innovations gathering knowledge from around the world. HCG is specialist in cancer care and education with a dedicated network of 26 centres treating nearly 100,000 patients a year. And their goal is common — putting an end to cancer. We are very pleased to join their hands to set up this centre of excellence that will re-define cancer care in India and around the world.”

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. 56.74
UK Pound	1	Rs. 88.53
Euro	1	Rs. 75.20

INFORMATION DETAILS

Report Prepared by :

NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.