MIRA INFORM REPORT

Report Date :

18.05.2013

IDENTIFICATION DETAILS

Name :	WIN-MEDICARE PRIVATE LIMITED
Registered Office :	1400, Modi Tower, 98 Nehru Palace, New Delhi – 110019, Delhi
Country :	India
Financials (as on) :	31.12.2011
Date of Incorporation :	28.04.1981
Com. Reg. No.:	55-011647
Capital Investment / Paid-up Capital :	Rs.7.899 Millions
CIN No.: [Company Identification No.]	U5139DL1981PTC011647
TAN No.: [Tax Deduction & Collection Account No.]	DELW01075E
PAN No.: [Permanent Account No.]	AAACW0631J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Pharma Products [Medicine and Healthcare Products] and Colour Cosmetic and Personal Care Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 6000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having a fine track record. Even though the company has achieved better growth in its total income from its operation, there appears slight dip in profitability during December 2011. However, financial positions of the company appear to be sound. Trade relations are reported as decent. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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 :	1400, Modi Tower, 98 Nehru Place, New Delhi – 110 019, India
Tel. No.:	91-11-66504555 / 66504560
Fax No.:	91-11-26451659 / 26449030
E-Mail :	legal@winmedicare.com
Website :	http://www.modigroup.com/group-win.htm
Factory :	Meerut - Muzzafarnagar Road, Modipuram, District Meerut - 250 011, Uttar Pradesh Tel. No. 91-121-2570214/2570215/16/2571114 Fax. No. 91-121-2570983 Unit No. 8-10, 1st Floor, Shree Madhu Industrial Estate, Pandu Rang Budhkar Marg, Worli-400013, Mumbai, Maharashtra Tel. No. : 91-22-24948635/24968606/24948870 Fax. No. : 91-22-24950560 129, Park Street, III Floor, Kolkata-700 016, West Bengal Tel. No. : 91-33-22260165/22261920 Fax. No. : 91-33-22457364 3, Palat Shankaran Road, Mahalinga Puram, Chennai-600 034, Tamilnadu Tel. No. : 91-44-28271505 Fax. No. : 91-44-28227351 International Marketing 1108, Modi Tower, 98 Nehru Place, New Delhi – 110 019, India Tel. No.: 91-11-51617708 Fax No.: 91-11-26451659 1109, Modi Tower, 98, Nehru Place, New Delhi-110019 Tel. No. : 91-11-26286581 - 85 Fax. No. : 91-11-26480115 HRD/ Accounts/ Purchase B-12, Okhla lndustrial Area, Phase-II, New Delhi-110 020 Tel. No. : 91-11-26829145/26847458/90 Fax. No. : 91-11-26915805

DIRECTORS

AS ON 30.06.2012

Name :

Mr. Umesh Kumar Modi

Designation :

Chairman

Address :

36, Amrita Shergil Marg, New Delhi, India

Date of Birth/Age :

05.03.1951

Date of Appointment :

21.03.1990

Din No.:

00002757

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	L15429UP1932PLC000469	MODI INDUSTRIES LIMITED	Managing director	1/3/2011	12/2/1976	Active	NO
2	L27106JH1982PLC001633	BIHAR SPONGE IRON LIMITED	Managing director	28/03/2009	16/04/1982	Active	NO
3	U51109DL1983PLC015250	MORGARDSHAMMAR INDIA LIMITED	Director	21/02/1983	21/02/1983	Active	NO
4	U51397DL1981PTC011647	WIN-MEDICARE PRIVATE LIMITED	Director	21/03/1990	21/03/1990	Active	NO
5	U74899DL1990PTC041928	MODI-MUNDIPHARMA PRIVATE LIMITED	Director	31/10/1990	31/10/1990	Active	NO
6	U74899DL1994PTC057763	MODI REVLON PRIVATE LIMITED	Director	8/3/1994	8/3/1994	Active	NO
7	L15421UP1991PLC019160	SBEC SUGAR LIMITED	Director	3/2/1995	3/2/1995	Active	NO
8	U67120DL1997PTC087365	JAI ABHISHEK INVESTMENTS PRIVATE LIMITED	Director	19/05/1997	19/05/1997	Active	NO
9	U40105UP1996PLC037250	SBEC BIOENERGY LIMITED	Director	24/07/1997	24/07/1997	Active	NO
10	U25209DL2000PTC103815	MODI-SENATOR (INDIA) PRIVATE LIMITED	Director	17/02/2000	17/02/2000	Active	NO
11	U67120UP1980PTC004957	LONGWELL INVESTMENT PRIVATE LIMITED	Director	21/08/2000	21/08/2000	Active	NO
12	U74899DL1987PTC028294	A TO Z HOLDINGS PRIVATE LIMITED	Director	21/08/2000	21/08/2000	Active	NO
13	U24246AS2000PTC006192	KAMAKHYA COSMETICS AND PHARMACEUTICALS PRIVATE LIMITED	Director	3/1/2001	3/1/2001	Active	NO
14	U67120DL2001PLC112424	SBEC STOCKHOLDING AND INVESTMENT LIMITED	Director	14/08/2010	16/09/2001	Active	NO
15	U74900DL2007PTC164608	UMESH MODI CORP. PRIVATE LIMITED	Director	11/6/2007	11/6/2007	Active	NO
16	U15494DL2008PLC183504	MODI GOURMET LIMITED	Director	19/09/2008	19/09/2008	Active	NO
17	U51101DL2008PTC184860	MODI GOODS AND RETAIL SERVICES PRIVATE LIMITED	Director	12/11/2008	12/11/2008	Active	NO
18	U24100DL2009PTC188842	MODI OMEGA PHARMA (INDIA) PRIVATE LIMITED	Director	25/03/2009	25/03/2009	Active	NO
19	U15400DL2009PTC191424	MODI ILLVA INDIA PRIVATE LIMITED	Director	19/06/2009	19/06/2009	Active	NO
20	U00432JH2006PLC011972	CHANDIL POWER LIMITED	Director	27/08/2009	20/07/2009	Active	NO

Name :

Ms. Kum Kum Modi

Designation :

Managing Director

Address :

36, Amrita Shergil Marg, New Delhi, India

Date of Birth/Age :

19.01.1951

Date of Appointment :

01.04.1995

Din No.:

00522904

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U67120UP1980PTC004957	LONGWELL INVESTMENT PRIVATE LIMITED	Director	15/03/1980	15/03/1980	Active	NO
2	U51109UP1978PTC004616	SWASTH INVESTMENT PRIVATE LIMITED	Director	26/06/1984	26/06/1984	Active	NO
3	U51109DL1983PLC015250	MORGARDSHAMMAR INDIA LIMITED	Director	29/09/1989	29/09/1989	Active	NO
4	U74899DL1990PTC041928	MODI-MUNDIPHARMA PRIVATE LIMITED	Director	28/04/1993	28/04/1993	Active	NO
5	U74899DL1994PTC057763	MODI REVLON PRIVATE LIMITED	Director	8/3/1994	8/3/1994	Active	NO
6	U51397DL1981PTC011647	WIN-MEDICARE PRIVATE LIMITED	Managing director	1/4/1995	1/4/1995	Active	NO
7	U63040DL1996PTC076223	MODILINE TRAVEL SERVICE PRIVATE LIMITED	Director	28/06/1996	28/06/1996	Active	NO
8	U67120DL1997PTC087365	JAI ABHISHEK INVESTMENTS PRIVATE LIMITED	Director	19/05/1997	19/05/1997	Active	NO
9	U74899DL1987PTC028294	A TO Z HOLDINGS PRIVATE LIMITED	Director	19/05/1997	19/05/1997	Active	NO
10	U74899DL1985PTC022550	MODI MOTORS PRIVATE LIMITED	Director	5/9/1997	5/9/1997	Active	NO
11	L15421UP1991PLC019160	SBEC SUGAR LIMITED	Director	26/05/2000	26/05/2000	Active	NO
12	U24246AS2000PTC006192	KAMAKHYA COSMETICS AND PHARMACEUTICALS PRIVATE LIMITED	Director	3/1/2001	3/1/2001	Active	NO
13	U74900DL2007PTC164608	UMESH MODI CORP. PRIVATE LIMITED	Director	11/6/2007	11/6/2007	Active	NO
14	U51909DL2010PTC208795	JAYESH TRADEX PRIVATE LIMITED	Director	30/09/2011	12/10/2010	Active	NO
15	L27106JH1982PLC001633	BIHAR SPONGE IRON LIMITED	Director	30/09/2011	4/6/2011	Active	NO

Name :

Dr. Bal Kishan Agarwal

Designation :

Director

Address :

108, Sameer Vihar, Modinagar, Uttar Pradesh, India

Date of Birth/Age :

21.01.1944

Date of Appointment :

08.05.1981

Din No.:

00022536

Name :

Ms. Himani Agarwal Modi

Designation :

Director

Address :

36, Amrita Shergil Marg, New Delhi, India

Date of Birth/Age :

27.05.1974

Date of Appointment :

27.05.1992

Din No.:

00034892

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51397DL1981PTC011647	WIN-MEDICARE PRIVATE LIMITED	Director	27/05/1992	27/05/1992	Active	NO
2	U74899DL1985PTC022550	MODI MOTORS PRIVATE LIMITED	Director	29/09/1995	29/09/1995	Active	NO
3	U63040DL1996PTC076223	MODILINE TRAVEL SERVICE PRIVATE LIMITED	Managing director	12/2/1996	12/2/1996	Active	NO
4	U25209DL2000PTC103815	MODI-SENATOR (INDIA) PRIVATE LIMITED	Director	17/02/2000	17/02/2000	Active	NO
5	U25191RJ1997PTC015136	H.M. TUBES AND CONTAINERS PRIVATE LIMITED (TRANSFER FROM DELHI TO RA	Managing director	1/4/2001	1/4/2001	Active	NO
6	U67120DL1997PTC087365	JAI ABHISHEK INVESTMENTS PRIVATE LIMITED	Director	30/09/2002	30/09/2002	Active	NO
7	U74140DL2007PTC170632	FIRST MOVE MANAGEMENT SERVICES PRIVATE LIMITED	Director	21/11/2007	21/11/2007	Active	NO
8	U24100DL2009PTC188842	MODI OMEGA PHARMA (INDIA) PRIVATE LIMITED	Director	25/03/2009	25/03/2009	Active	NO

Name :

Mr. Abhishekh Modi

Designation :

Director

Address :

36, Amrita Shergil Marg, New Delhi, India

Date of Birth/Age :

22.12.1975

Date of Appointment :

11.03.1994

Din No.:

00002798

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51397DL1981PTC011647	WIN-MEDICARE PRIVATE LIMITED	Director	11/3/1994	11/3/1994	Active	NO
2	L15421UP1991PLC019160	SBEC SUGAR LIMITED	Whole-time director	10/7/2008	13/05/1994	Active	NO
3	U67120UP1980PTC004957	LONGWELL INVESTMENT PRIVATE LIMITED	Director	19/09/1994	19/09/1994	Active	NO
4	U74899DL1990PTC041928	MODI-MUNDIPHARMA PRIVATE LIMITED	Director	15/02/1995	15/02/1995	Active	NO
5	U74899DL1987PTC028294	A TO Z HOLDINGS PRIVATE LIMITED	Director	1/3/1996	1/3/1996	Active	NO
6	U63040DL1996PTC076223	MODILINE TRAVEL SERVICE PRIVATE LIMITED	Director	28/06/1996	28/06/1996	Active	NO
7	U51109DL1983PLC015250	MORGARDSHAMMAR INDIA LIMITED	Director	5/9/1997	5/9/1997	Active	NO
8	L27106JH1982PLC001633	BIHAR SPONGE IRON LIMITED	Director	14/02/2001	14/02/2001	Active	NO
9	L15429UP1932PLC000469	MODI INDUSTRIES LIMITED	Director	29/11/2007	8/12/2006	Active	NO
10	U40105UP1996PLC037250	SBEC BIOENERGY LIMITED	Whole-time director	11/7/2011	8/12/2006	Active	NO
11	U15494DL2008PLC183504	MODI GOURMET LIMITED	Director	19/09/2008	19/09/2008	Active	NO
12	U51101DL2008PTC184860	MODI GOODS AND RETAIL SERVICES PRIVATE LIMITED	Director	12/11/2008	12/11/2008	Active	NO
13	U20297UP2008PTC034600	MODI ARTS PRIVATE LIMITED	Director	3/9/2009	14/11/2008	Active	NO
14	U15400DL2009PTC191424	MODI ILLVA INDIA PRIVATE LIMITED	Director	19/06/2009	19/06/2009	Active	NO
15	U00432JH2006PLC011972	CHANDIL POWER LIMITED	Additional director	30/09/2011	8/8/2011	Active	NO

Name :

Mr. Rajiv Sawhney

Designation :

Director

Address :

52 – A, Friends Colony, New Delhi, India

Date of Birth/Age :

02.10.1947

Date of Appointment :

28.03.2000

Din No.:

00071612

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1969PLC014275	EASTERN INTERNATIONAL HOTELS LIMITED	Director	4/10/1991	4/10/1991	19/07/2001	Active	NO
2	U55101MH1993PTC205426	EASTERN ESTATE AND INVESTMENTS ADVISORS PRIVATE LIMITED	Director	22/02/1996	22/02/1996	19/07/2001	Active	NO
3	U51397DL1981PTC011647	WIN-MEDICARE PRIVATE LIMITED	Director	28/03/2000	28/03/2000	-	Active	NO
4	L29199HR1956PLC033107	TALBROS AUTOMOTIVE COMPONENTS LIMITED	Director	26/08/2003	26/08/2003	-	Active	NO
5	U85110DL2004PTC128319	GLOBAL HEALTH PRIVATE LIMITED	Director	18/04/2005	18/04/2005	-	Active	NO
6	U74899DL2005PTC141003	DR NARESH TREHAN AND ASSOCIATES HEALTH SERVICES PRIVATE LIMITED	Director	27/09/2006	24/09/2005	-	Active	NO

Name :

Mr. Jayesh Modi

Designation :

Director Appointed in Casual Vacancy

Address :

36 Amrita Shergill Marg, New Delhi – 110003, Delhi, India

Date of Birth/Age :

14.11.1991

Date of Appointment :

17.11.2009

DIN No.:

02849637

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51397DL1981PTC011647	WIN-MEDICARE PRIVATE LIMITED	Director appointed in casual vacancy	17/11/2009	17/11/2009	Active	NO
2	U40105UP1996PLC037250	SBEC BIOENERGY LIMITED	Director	27/09/2010	13/05/2010	Active	NO
3	U67120UP1980PTC004957	LONGWELL INVESTMENT PRIVATE LIMITED	Director	16/05/2010	16/05/2010	Active	NO
4	U74899DL1987PTC028294	A TO Z HOLDINGS PRIVATE LIMITED	Director	16/05/2010	16/05/2010	Active	NO
5	L15421UP1991PLC019160	SBEC SUGAR LIMITED	Director	30/09/2010	18/06/2010	Active	NO
6	L27106JH1982PLC001633	BIHAR SPONGE IRON LIMITED	Director	29/09/2010	18/06/2010	Active	NO
7	U51109DL1983PLC015250	MORGARDSHAMMAR INDIA LIMITED	Director	30/09/2010	21/06/2010	Active	NO
8	U00432JH2006PLC011972	CHANDIL POWER LIMITED	Additional director	30/09/2011	13/08/2010	Active	NO
9	U51909DL2010PTC208795	JAYESH TRADEX PRIVATE LIMITED	Director	27/09/2010	27/09/2010	Active	NO

KEY EXECUTIVES

Name :	Mrs. Ritu Aswal
Designation :	Secretary
Address :	Flat No. 132, DDA SFS Flats, Pocket – 3, Sector 11, Dwarka, New Delhi – 110075, Delhi, India
Date of Birth/Age :	02.04.1980
Date of Appointment :	2.07.2011
Pan No.:	AGSPA6736F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.06.2012

Names of Shareholders	No. of Shares
Modi-Mundi Pharma Limited, India	917264
Own Investments (India) Limited, India	24000
Your Investment (India) Private Limited, India	24000
Kantilal P. Doshi	1000
Jugal Kishore Parikh	500
Hukimichand Dayama	500
Samat Madan	500
Jogatar P Pankaj	500
Kamal Kishore	500
Modi Kumar Umesh	1
TOTAL	968765

AS ON 30.06.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.64
Other top fifty shareholders	0.36
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Pharma Products [Medicine and Healthcare Products] and Colour Cosmetic and Personal Care Products.

PRODUCTION STATUS [AS ON 31.12.2010]

Particulars	Units	Installed Capacity (For eight hours shift) as certified by management and relied upon by the auditors, being a technical matter	Actual Production (Including samples)*
Tablets	Nos.	3031.00	916.54**
Capsules	Nos.	203.00	23.96
Ampoules	Nos.	39.00	39.74
Others	Nos.	--	10.65

NOTES:

(a) *Actual Production made in double shift for 158 days and 145 days in single shift) (Previous year 302 days in double shift).

(b) ** Including production of 18.375 millions tablets, 0.913 millions Ampoules and 1.051 millions other for other company (Previous year production of tablets 56.660 millions tablets 0.902 millions Ampoules and 1.024 millions)

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Standard Chartered Grindlays Bank Limited, Connaught Circus, New Delhi - 110 001
• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West) , Mumbai – 400013, Maharashtra, India
• State Bank of India, Modinagar, Uttar Pradesh India
• Allahabad Bank, Nehru Place, New Delhi - 110 019, India

Facilities :

Secured Loan	As on 31.12.2011	As on 31.12.2010
	Rs. in Millions
Working capital loans banks	73.491	0.000
Working capital loans others	24.728	21.065
Hire purchase installment payable	6.743	6.976
TOTAL	104.962	28.041

Banking Relations :	--
Auditors :
Name :	K. K. Jain and Company Chartered Accountants
Address :	184A, Ground Apartments, Pocket – IV, mayor Vihar Phase – I, New Delhi – 110091, Delhi, India
PAN No:	AAAFK7991A
Holding Company :	Modi-Mundi Pharma Limited
Associates/Subsidiaries :	Mundipharma Bangladesh (Private) Limited
Fellow Subsidiaries :	Modi Revlon Private Limited Kamakhya Cosmetics and Pharmaceuticals Private Limited
Other Related Parties :	Bihar Sponge Iron Limited S.B.E.C. Sugar Limited Modiline Travel Services Private Limited Modi Motors Private Limited Modi Industries Limited Umesh Modi Corp. Private Limited Modi Omega Pharma (India) Private Limited H M Tube and Containers (P) Limited SBEC Bio Energy Limited M.G. Mobiles India Private Limited Mordgardshammer India Limited Jayesh Tradex Private Limited Arvind Contiental Private Limited Modi Illva India (P) Limited

CAPITAL STRUCTURE

AS ON 30.06.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
968765	Equity Shares	Rs.10/- each	Rs.9.687 Millions

AS ON 31.12.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity shares	Rs. 10/- each	Rs. 50.000 Millions

Issued Capital :

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

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
372602	Equity shares	Rs.10/-	Rs.3.726 Millions
596163	Partly Paid Equity Shares of Rs.10/- each Rs.3/- called up and paid up in Cash		Rs.4.173 Millions
	TOTAL		Rs.7.899 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2011	31.12.2010	31.12.2009
SHAREHOLDERS FUNDS
1] Share Capital		7.899	5.514	3.726
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1493.204	1318.680	1120.363
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1501.103	1324.194	1124.089
LOAN FUNDS
1] Secured Loans		104.962	28.041	34.306
2] Unsecured Loans		86.985	60.030	0.000
TOTAL BORROWING		191.947	88.071	34.306
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
DEARS DEPOSITS		0.000	0.000	58.389
TOTAL		1693.050	1412.265	1216.784
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		259.113	200.575	176.445
Capital work-in-progress		35.856	5.463	5.426
INVESTMENT		104.330	56.972	0.151
DEFERREX TAX ASSETS		64.054	49.023	40.952
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	498.615	410.519	385.293
	Sundry Debtors	614.356	516.446	405.786
	Cash & Bank Balances	133.756	220.218	149.683
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1111.983	949.513	787.019
Total Current Assets		2358.710	2096.696	1727.781
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	389.530	316.685	584.577
	Other Current Liabilities	533.646	514.084	29.751
	Provisions	205.837	165.695	119.643
Total Current Liabilities		1129.013	996.464	733.971
Net Current Assets		1229.697	1100.232	993.810
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1693.050	1412.265	1216.784

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2011	31.12.2010	31.12.2009
	SALES
		Income		3852.203	3452.288
		Other Income		110.674	105.694
		TOTAL (A)	4650.200	3962.877	3557.982
Less	EXPENSES
		Materials		1714.359	1605.587
		Manufacturing and Others		29.372	30.085
		Personnel	4374.990	625.871	488.042
		Administration and Selling		1244.647	1272.005
		Increase / Decrease in Finished Goods and Work in process		5.302	(8.234)
		TOTAL (B)	4374.990 [Including Financial Expenses]	3619.551	3387.485
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			343.326	170.497
Less	FINANCIAL EXPENSES (D)			24.951	25.106
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		275.210	318.375	145.391
Less/ Add	DEPRECIATION/ AMORTISATION (F)		29.060	23.675	20.162
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		246.150	294.700	125.229
Less	TAX (H)		76.970	108.400	55.151
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		169.180	186.300	70.078
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1122.740	1031.529	948.053
Less	APPROPRIATIONS
		Transfer to General Reserve	16.920	19.472	0.000
		Dividend	95.940	72.076	0.000
		Tax on Dividend	15.560	11.970	0.000
	BALANCE CARRIED TO THE B/S		1163.500	1122.737	1031.529
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	151.050	110.692	102.104
	IMPORTS
		Finished Goods		131.186	79.438
		Raw Materials		41.823	57.080
		Capital Goods	NA	0.784	0.000
		Components and spare parts		0.205	0.000
		Others		0.019	0.085
	TOTAL IMPORTS		NA	174.017	136.603
	Earnings / (Loss) Per Share (Rs.)		259.32	403.830	224.030

KEY RATIOS

PARTICULARS		31.12.2011	31.12.2010	31.12.2009
PAT / Total Income	(%)	3.64	4.70	1.96
Net Profit Margin (PBT/Sales)	(%)	NA	7.65	3.62
Return on Total Assets (PBT/Total Assets}	(%)	9.40	12.82	6.57
Return on Investment (ROI) (PBT/Networth)		0.16	0.22	0.11
Debt Equity Ratio (Total Debt/Networth)		0.13	0.07	0.03
Current Ratio (Current Asset/Current Liability)		2.09	2.10	2.35

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	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	No
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

Unsecured Loan	As on 31.12.2011	As on 31.12.2010
	Rs. in Millions
Other debt	86.985	60.030
TOTAL	86.985	60.030

OPERATIONS AND REVIEW:

In the year 2011, the Company has achieved gross sales of Rs. 4649.540 millions as against Rs. 3936.920 millions in 2010, an overall growth of 18.10% over the previous year. The profit before tax for the year 2011 is Rs. 246.150 millions against Rs. 294.700 millions in 2010.

PHARMA DIVISION:

The Pharma division has achieved a turnover of Rs. 2725.310 millions as against Rs. 2366.290 millions during the corresponding previous year. The Company division has performed well with overall growth of 15.17 % over previous year.

COSMETIC DIVISION:

In the year 2011, the division has achieved net sales of Rs. 1521.820 millions as against Rs. 1325.020 millions during the corresponding previous year. The Company division has performed well with overall growth of 14.85 % over previous year.

INTERNATIONAL DIVISION:

The International division has achieved a turnover of Rs. 217.330 millions as against Rs. 162.430 millions during the corresponding previous year. The Company division has performed well with overall growth of 33.80% over previous year.

HEALTHCARE DIVISION:

The turnover of the division during the financial year ended 2011 was Rs. 185.080 millions as against Rs. 83.180 millions during the corresponding previous year. The Company division has performed well with overall growth of 122.50 % over previous year.

FIXED ASSETS:

• Building
• Leasehold Improvement
• Plant and Machinery
• Lab. Equipments
• Utilities
• A.C. and Ventilation
• Computers
• Office Equipments
• Furniture and Fixtures
• 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.54.89
UK Pound	1	Rs.83.65
Euro	1	Rs.70.57

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		64

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.