MIRA INFORM REPORT

Report Date :

28.05.2013

IDENTIFICATION DETAILS

Name :	SOHAN HEALTHCARE PRIVATE LIMITED
Registered Office :	Balaji Market, Main Road, Pusad, District Yavatmal – 445 204, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	13.09.2005
Com. Reg. No.:	11-156017
Capital Investment / Paid-up Capital :	Rs.16.000 millions
CIN No.: [Company Identification No.]	U85110MH2005PTC156017
TAN No.: [Tax Deduction & Collection Account No.]	PNES16498G
PAN No.: [Permanent Account No.]	AAJCS5792H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Bulk Drugs (Pharmaceutical Based Products).
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 180000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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 :	Balaji Market, Main Road, Pusad, District Yavatmal – 445 204, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	sohanhealthcare@gmail.com info@sohanhealthcare.com
Website :	http://www.sohanhealthcare.net
Admin Office :	602, South Wing, Sacred World, Wanowarie, Pune – 411 040, Maharashtra, India
Tel. No.:	91-20-40089631/ 26806911
Fax No.:	91-20-26806911
E-Mail :	sohanhealthcare@gmail.com
Area :	500 sq ft
Location :	Rented
Factory 1 :	D-30, Kurkumbh, MIDC, Taluka-Daund, District Pune – 413 802, Maharashtra, India
Tel. No.:	91-2117-202033/ 235333
Fax No.:	91-2117-235333
Area :	25000 sq mtr.
Location :	Leased

DIRECTORS

As on 25.09.2012

Name :

Mr. Sohan Deelip Chakkarwar

Designation :

Managing Director

Address :

1-10-191, Vishwa Nagar, Nanded – 431 602, Maharashtra, India

Date of Birth/Age :

04.05.1981

Date of Appointment :

31.03.2008

DIN No.:

00186419

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	U85110MH2005PTC156017	SOHAN HEALTHCARE PRIVATE LIMITED	Managing director	31/03/2008	13/09/2005	-	Active	NO
2	U74120MH2012PTC239066	SOHAN STOCK AND REALTY HOLDINGS PRIVATE LIMITED	Director	22/12/2012	22/12/2012	-	Active	NO

Name :

Mrs. Deepali Deelip Chakkarwar

Designation :

Director

Address :

1-10-191, Vishwa Nagar, Nanded – 431 602, Maharashtra, India

Date of Appointment :

13.09.2005

DIN No.:

00304145

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	U85110MH2005PTC156017	SOHAN HEALTHCARE PRIVATE LIMITED	Director	13/09/2005	13/09/2005	-	Active	NO
2	U74120MH2012PTC239066	SOHAN STOCK AND REALTY HOLDINGS PRIVATE LIMITED	Director	22/12/2012	22/12/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Arti Rohan Chakkarwar	4000
Deepali Deelip Chakkarwar	14000
Dilip Balaji Chakkarwar (Individual)	45250
Murlidhar Rambhau Chakkarwar	1000
Ram Narayan Soni	6000
Rohan Deelip Chakkarwar	11500
Samrudhi Deelip Chakkarwar	6500
Shyam U. Dubbewar	1750
Sohan Deelip Chakkarwar	53100
Uddhavrao M. Dubbewar	1500
Nayana Sohan Chakkarwar	15400
Total	160000

As on 25.09.2012

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

BUSINESS DETAILS

Line of Business :

Manufacturer of Bulk Drugs (Pharmaceutical Based Products).

PRODUCTION STATUS (AS ON 31.03.2011)

A) Licensed Capacity: -

The licensed capacity of the Company is 70 Tons.

B) Installed Capacity: -

The installed capacity of the Company is 70 Tons.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Punjab National Bank, Nanded Branch, Old Mondha, Nanded – 431 601, Maharashtra, India
• State Bank of India
• Axis Bank Limited

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Term Loan	27.404
Punjab National Bank – Machinery Loan		3.646
Punjab National Bank – Building Loan		2.640
Bank O.D.
Punjab National Bank – Nanded CC A/c		11.880
Punjab National Bank – Camp CC A/c		8.981
Total	27.404	27.147

Banking Relations :	--
Auditors :
Name :	Kailas R. Malpani and Company Chartered Accountants
Address :	Office No.9, prestige Point, 283, Shukrawar Peth, Pune – 411 002, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	ABNPM9490N

CAPITAL STRUCTURE

As on 25.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1600000	Equity Shares	Rs.10/- each	Rs.16.000 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		16.000	16.000	16.000
2] Share Premium		24.000	24.000	24.000
3] Reserves & Surplus		5.088	0.000	0.000
4] (Accumulated Losses)		0.000	(4.057)	(8.632)
NETWORTH		45.088	35.943	31.368
LOAN FUNDS
1] Secured Loans		27.404	27.147	23.003
2] Unsecured Loans		6.102	7.682	7.042
TOTAL BORROWING		33.506	34.829	30.045
DEFERRED TAX LIABILITIES		0.638	0.599	0.535
TOTAL		79.232	71.371	61.948
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		33.459	33.488	34.270
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.825	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	18.797	12.133	7.052
	Sundry Debtors	61.253	37.034	22.928
	Cash & Bank Balances	4.776	0.316	0.643
	Other Current Assets	14.066	24.156	17.109
	Loans & Advances	1.036	1.046	0.048
Total Current Assets		99.928	74.685	47.780
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	50.624	34.449	19.443
	Other Current Liabilities	0.000	0.001	0.001
	Provisions	4.356	2.445	0.844
Total Current Liabilities		54.980	36.895	20.288
Net Current Assets		44.948	37.790	27.492
MISCELLANEOUS EXPENSES		0.000	0.093	0.186
TOTAL		79.232	71.371	61.948

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations (Net)	232.910	154.419	105.351
		Other Income	0.704	0.948
		TOTAL (A)	233.614	155.367	105.351
Less	EXPENSES
		Cost of materials consumed	174.769	116.151	93.359
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(6.665)	(5.081)
		Operating expenses	34.269	24.420
		Employee benefit expense	1.395	0.860
		Other expenses	9.460	5.217
		TOTAL (B)	213.228	141.567	93.359
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		20.386	13.800	11.992
Less	FINANCIAL EXPENSES (D)		4.498	3.696	2.868
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.888	10.104	9.124
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.407	4.389	4.626
	PROFIT BEFORE TAX (E-F) (G)		11.481	5.715	4.498
Less	TAX (H)		2.336	1.140	0.384
	PROFIT AFTER TAX (G-H) (I)		9.145	4.575	4.114
	Earnings Per Share (Rs.)		5.72	2.86	2.57

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.91	2.94	3.91
Net Profit Margin (PBT/Sales)	(%)	4.93	3.70	NA
Return on Total Assets (PBT/Total Assets}	(%)	8.61	5.28	5.48
Return on Investment (ROI) (PBT/Networth)		0.25	0.16	0.14
Debt Equity Ratio (Total Debt/Networth)		0.74	0.97	0.96
Current Ratio (Current Asset/Current Liability)		1.82	2.02	2.36

LOCAL AGENCY FURTHER INFORMATION

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	Yes
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	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes
31) Date of Birth of Proprietor/Partner/Director, if available	Yes
32) PAN of Proprietor/Partner/Director, if available	No
33) Voter ID No of Proprietor/Partner/Director, if available	No
34) External Agency Rating, if available	No

Unsecured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Arti Rohan Chakkarwar	6.102	0.300
Deepali Chakkarwar		0.141
Deelip Balaji Chakkarwar		4.201
Deelip Balaji Chakkarwar (HUF)		0.450
Rohan Chakkarwar		0.950
Rohan Chakkarwar (HUF)		0.000
Sohan Chakkarwar		0.060
Sohan Coppertech Private Limited		1.580
Total	6.102	7.682

FIXED ASSETS:

· Computer

· Car

· Furniture and Fixtures

· Factory Building

· Lab Equipments

· Plant and Machinery

· Electrical Installation

· Office Equipments

· Boiler

· Land

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.55.62
UK Pound	1	Rs.84.18
Euro	1	Rs.71.95

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.