MIRA INFORM REPORT

Report Date :

09.04.2014

IDENTIFICATION DETAILS

Name :	SMILAX LABORATORIES LIMITED
Registered Office :	Plot No.12/A, Phase III, IDA, Jeedimetla, Hyderabad – 500 055, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	20.10.2004
Com. Reg. No.:	01-044461
Capital Investment / Paid-up Capital :	Rs.795.047 millions
CIN No.: [Company Identification No.]	U24230AP2004PLC044461
TAN No.: [Tax Deduction & Collection Account No.]	HYDS16172C
PAN No.: [Permanent Account No.]	AAJCS3390R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the manufacturing of Advanced Intermediates, Active Pharmaceutical ingredients (APIs) and Pellets.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 4003000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Reserves of the company is low. Rating also reflects high competition due to large number of players in the segment. However, trade relation are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with some caution.

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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India’s current account deficit for the fiscal third quarter ended September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and moderation in gold imports. Manufacturing activity and new orders in India showed their strongest growth in a year in February. The news comes as a relief after data showed Asia’s third largest economy grew by a slower-than-expected 4.7 % annually in the three months through December. The HSBC Manufacturing Purchasing Managers’ Index which gauges the business activity of India’s factories but not its’ utilities, rose to 52.5 in February, its highest in a year from 51.4 in January. Overall new orders for factory goods which rose to a one-year high of 54.9 contributed to the surge. China has emerged as India’s biggest trading partner in the current financial year replacing the United Arab Emirates and pushing it to the third spot. India-China trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The US comes second at $46 billion with 8.1 % share during the first nine months of the current financial year.

The Reserve Bank of India has granted an additional nine months to the public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000 denominations, pushing the deadline to January 1, 2015. A day before dates for the Lok Sabha polls were announced, the government decided to hike interest rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The new rates will be effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s appeal against a ruling over transferring ownership of its local mobile phones plant which is the subject of a tax dispute to Microsoft Corp.

In the last days of the current Government, another scam has surfaced. The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau of Investigation will look into allegations that over $80 million was paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners. The aircraft has experienced a series of malfunctions since its debut in 2011.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facilities: B
Rating Explanation	Risk prone credit quality and very high credit risk.
Date	October 16, 2013

Rating Agency Name	CARE
Rating	Short Term Bank Facilities: A4
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	October 16, 2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Ramesh
Designation :	Accounts Executive
Contact No.:	91-40-23090260
Date :	05.04.2014

LOCATIONS

Registered Office/ Factory 1 :	Plot No.12/A, Phase III, IDA, Jeedimetla, Hyderabad – 500 055, Andhra Pradesh
Tel. No.:	91-40-23090260/ 23191777
Fax No.:	91-40-23095239
E-Mail :	info@smilaxlabs.com marketing@smilaxlabs.com sureshkumar.g@smilaxlabs.com arunkumar@adrasl.com ganesh.pulicherla@gmail.com
Website :	http://www.smilaxlabs.com
Location :	Owned
Corporate Office :	6-3-1239/4, Raj Bhavan Road, Somajiguda, Hyderabad – 500 082, Andhra Pradesh, India
Tel. No.:	91-40-23304198/ 79
Fax No.:	91-40-23312749
Factory 2 :	Survey No.57/A and 58, Kardanoor Village, BDL Road, Patancheru, Hyderabad, Andhra Pradesh, India
Factory 3 :	Plot No.18, Jawaharlal Nehru Pharma City, Parawada, Visakhapatnam - 531 021 Andhra Pradesh, India
Factory 4 :	Plot No.70, Incubation Centre, Jawaharlal Nehru Pharma City, Parawada, Visakhapatnam – 531 024 Andhra Pradesh, India
Mumbai Branch Office :	Corporate Park-II, 9^th Floor, Sion-Trombay Road, Chembur, Mumbai – 400 071, Maharashtra, India
Tel. No.:	91-22-67628888
Fax No.:	91-22-67628899

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Suryadevara Murali Krishna

Designation :

Managing Director

Address :

Flat No.4, 2^nd Floor, 8-3-976, Sri Sal Residency, Salivahana Nagar, Yellareddyguda , Hyderabad – 500 073, Andhra Pradesh, India

Date of Birth/Age :

02.06.1965

Qualification :

MSC

Date of Appointment :

01.03.2010

DIN No.:

00218735

PAN No.:

ALUPS0969D

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	U24230AP2004PLC044461	SMILAX LABORATORIES LIMITED	Managing director	01-03-2010	28-03-2005	-	Active	NO
2	U24232AP2008PLC061191	TRIDAX LABORATORIES LIMITED	Director	24-09-2008	24-09-2008	12-01-2010	Active	NO
3	U24232AP2013PTC088534	SMILAX PATANCHERU DRUGS AND PHARMACEUTICALS PRIVATE LIMITED	Director	24-06-2013	24-06-2013	-	Active	NO
4	U24297AP2013PTC088773	SPINOSA DRUGS PRIVATE LIMITED	Director	03-07-2013	03-07-2013	-	Active	NO

Name :

Mr. Mareddy Goutham Reddy

Designation :

Director

Address :

3-6-696, Flat No.104, Raghavendra Royal Port, Street No.11, Himayatnagar, Hyderabad – 500 027, Andhra Pradesh, India

Date of Birth/Age :

01.07.1970

Qualification :

MSC

Date of Appointment :

30.09.2009

DIN No.:

00251461

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	U24117AP1997PTC026555	SEMBRAMKY ENVIRONMENTAL MANAGEMENT PRIVATE LIMITED	Director	03-03-1997	03-03-1997	12-06-2006	Active	NO
2	U74140AP1994PLC018833	RAMKY ENVIRO ENGINEERS LIMITED	Managing director	25-09-2013	11-03-2002	-	Active	NO
3	U90001AP2001PLC037829	MUMBAI WASTE MANAGEMENT LIMITED	Director	15-04-2002	15-04-2002	06-11-2007	Active	NO
4	U74140AP2002PLC039702	TAMILNADU WASTE MANAGEMENT LIMITED	Director	03-10-2002	03-10-2002	02-08-2008	Active	NO
5	U45202AP2003PLC041549	MDDA-RAMKY ISBUS TERMINAL LIMITED	Director	20-08-2003	20-08-2003	21-01-2013	Active	NO
6	U40105AP2006PLC049237	RAMKY ENERGY AND ENVIRONMENT LIMITED	Director	22-02-2006	22-02-2006	06-11-2007	Active	NO
7	U72200AP2000PTC034890	RAMKY GLOBAL SOLUTIONS PRIVATE LIMITED	Director	26-10-2006	26-10-2006	05-11-2007	Amalgamated	NO
8	L74210AP1994PLC017356	RAMKY INFRASTRUCTURE LIMITED	Alternate director	16-03-2007	16-03-2007	03-09-2007	Active	NO
9	U74999AP2007PTC054200	LBW CONSULTING PRIVATE LIMITED	Director	30-05-2007	30-05-2007	30-06-2007	Active	NO
10	U45203AP2007PLC054825	RAMKY ELSAMEX HYDERABAD RING ROAD LIMITED	Director	18-07-2007	18-07-2007	02-08-2008	Active	NO
11	U70109DL2006PLC150027	GWALIOR BYPASS PROJECT LIMITED	Director	15-09-2008	17-09-2007	-	Active	NO
12	U70102AP2007PLC056184	RAMKY VILLAS LIMITED	Director	02-11-2007	02-11-2007	02-08-2008	Active	NO
13	U45209CT2007PLC020375	NAYA RAIPUR GEMS AND JEWELLERY SEZ LIMITED	Director	27-09-2008	05-11-2007	21-01-2013	Active	NO
14	U24290CT2007PLC020374	RAMKY HERBAL AND MEDICINAL PARK (CHATTISGARH) LIMITED	Director	05-11-2007	05-11-2007	02-08-2008	Active	NO
15	U45209CT2007PLC020373	RAMKY FOOD PARK (CHATTISGARH) LIMITED	Director	05-11-2007	05-11-2007	02-08-2008	Active	NO
16	U45209AP2007PLC054907	RAMKY TOWERS LIMITED	Director	30-09-2009	05-11-2007	-	Active	NO
17	U24239AP2004PLC042855	RAMKY PHARMA CITY (INDIA) LIMITED	Director	30-09-2008	05-11-2007	-	Active	NO
18	U70102AP2007PLC056526	RAMKY INTEGRATED TOWNSHIP LIMITED	Director	04-12-2007	04-12-2007	-	Active	NO
19	U01119AP2008PLC057808	RAMKY - MIDC AGRO PROCESSING PARK LIMITED	Director	25-02-2008	25-02-2008	21-01-2013	Active	NO
20	U70102AP1995PLC021333	RAMKY ESTATES AND FARMS LIMITED	Director	30-09-2009	30-11-2008	-	Active	NO
21	U24232AP2008PLC061191	TRIDAX LABORATORIES LIMITED	Additional director	13-02-2009	13-02-2009	12-01-2010	Active	NO
22	U24230AP2004PLC044461	SMILAX LABORATORIES LIMITED	Director	30-09-2009	13-02-2009	-	Active	NO
23	U74900AP2010FLC069522	EVERGREEN CLEANTECH FACILITIES MANAGEMENT (INDIA) LIMITED	Director	29-09-2011	19-07-2010	16-11-2011	Active	NO
24	U40109AP2007PTC052271	CHHATTISGARH ENERGY CONSORTIUM (INDIA) PRIVATE LIMITED	Director	29-09-2011	27-09-2010	-	Active	NO
25	U93000TN2010PTC075502	B & G SOLAR PRIVATE LIMITED	Director	13-12-2010	26-11-2010	-	Active	NO
26	U24232AP2010PLC071719	RAMKY LIFE SCIENCES LIMITED	Director	16-12-2010	16-12-2010	-	Active	NO
27	U73100AP2011PLC077628	JNPC PHARMA INNOVATION LIMITED	Director	29-09-2012	23-11-2011	-	Active	NO
28	U74120AP2010PLC071143	FRANK LLOYD TECH MANAGEMENT SERVICES LIMITED	Director	30-08-2012	03-12-2011	-	Active	NO
29	U74900AP1998PTC051098	ELCON GREENGEN INDIA PRIVATE LIMITED	Director	27-09-2013	12-10-2012	-	Active	NO
30	U45209AP2010PLC068968	N.A.M.EXPRESSWAY LIMITED	Director	25-09-2013	01-03-2013	-	Active	NO
31	U45203MH2010PLC204456	JORABAT SHILLONG EXPRESSWAY LIMITED	Director	24-09-2013	01-03-2013	-	Active	NO
32	U24232AP2013PTC088534	SMILAX PATANCHERU DRUGS AND PHARMACEUTICALS PRIVATE LIMITED	Director	24-06-2013	24-06-2013	-	Active	NO

Name :

Mr. Mohan Bandari

Designation :

Whole-time Director

Address :

Flat No.501, Sai Likhitas Samrat Sanda, 8-3-167/D/250 and 251, Kalya Nagar Phase-I, Hyderabad – 500 038, Andhra Pradesh, India

Date of Birth/Age :

15.04.1955

Qualification :

PHD in Organic Chemistry

Date of Appointment :

27.06.2013

DIN No.:

01422436

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	U24230AP2000PLC034319	AUCTUS PHARMA LIMITED	Whole-time director	04-04-2012	04-04-2007	15-04-2013	Active	NO
2	U24100AP2010PLC066882	AUCTUS LIFE SCIENCES LIMITED	Director	02-02-2010	02-02-2010	18-05-2013	Active	NO
3	U24232AP2008PLC061191	TRIDAX LABORATORIES LIMITED	Director	29-09-2012	29-09-2012	-	Active	NO
4	U24230AP2004PLC044461	SMILAX LABORATORIES LIMITED	Whole-time director	27-06-2013	05-02-2013	-	Active	NO
5	U24232AP2010PLC071719	RAMKY LIFE SCIENCES LIMITED	Director	30-09-2013	28-06-2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramesh
Designation :	Accounts Executive

MAJOR SHAREHOLDERS

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Alla Perri Reddy	80000
Alla Rama Devi	80000
Alla Radha Devi	80000
Veera Raghavamma A.	112000
Alla Rama Krishna Reddy	80000
Sambi Reddy P.	80000
Nagamalleswari. P.	80000
D. Suchitra	80000
Muralikrishna. S.	320000
Y. R. Nagaraja	321120
Alla Ayodhya Rami Reddy	65388680
Alla Dakshayani	1976000
ADR Constructions	1086680
Y. N. Madhurani	109200
Ramky Finance and Investments Private Limited, India	352000
VVD Constructions Private Limited, India	9279000
Total	79504680

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	12.11
Directors or relatives of directors	5.64
Other top fifty shareholders	82.25
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the manufacturing of Advanced Intermediates, Active Pharmaceutical ingredients (APIs) and Pellets.

Products :

Item Code No. (ITC Code)	99611730
Product Description	Pharmaceutical Products

Exports :

Products :

• Finished Goods

Countries :

• USA
• Pakistan

Imports :

Products :

• Raw Materials

Countries :

• China

Terms :

Selling :

L/C and Credit

Purchasing :

L/C and Credit

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Installed Capacity (Per Month)
Glass Linked Reactors	Lts.	111430
Stainless Steel Reactors	Lts.	265363

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

500 (Approximately)

Bankers :

• Axis Bank Limited, Corporate Banking Branch, Ground and 1^st Floor, 6-3-879/B, Green Lands, Begumpet, Hyderabad – 500 016, Andhra Pradesh, India
• State Bank of India, Overseas Branch, Plot No.241/A, Rajala Centre, Road No.36, Jubilee Hills Hyderabad – 500 033, Andhra Pradesh, India
• Bank of India, Khairatabad Branch, Ground Floor, PTI Building, A.C. Guards, Masab Tank, Hyderabad – 500 004, Andhra Pradesh, India

Facilities :

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWING
Rupee term loans from banks	385.000	409.000
SHORT TERM BORROWING
Working capital loans from banks	326.179	346.728
Total	711.179	755.728

Banking Relations :	--
Auditors :
Name :	Visweswara Rao and Associates Chartered Accountants
Address :	“Sri”, Plot No.512A1, Road No.31, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India
Tel. No.:	91-40-23546705
Fax No.:	91-40-23548003
E-Mail :	svrvrao@gmail.com
PAN No.:	AACFV6616M
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Ramky Enviro Engineers Limited, India (CIN No.: U74140AP1994PLC018833) Ramky Estates and Farms Limited, India (CIN No.: U70102AP1995PLC021333) Mumbai Waste Management Limited, India (CIN No.: U90001AP2001PLC037829) Tamilnadu Waste Management Limited, India (CIN No.: U74140AP2002PLC039702) Ramky Pharma City (India) Limited, India (CIN No.: U24239AP2004PLC042855) Ramky Advisory Services Limited, India (CIN No.: U74900AP2010PLC067911) Ramky Infrastructure Limited, India (CIN No.: L74210AP1994PLC017356)

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
83000000	Equity Shares	Rs.10/- each	Rs.830.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
79504680	Equity Shares	Rs.10/- each	Rs.795.047 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	795.047	795.047	795.047
(b) Reserves & Surplus	205.827	193.298	183.371
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1000.874	988.345	978.418
(3) Non-Current Liabilities
(a) Long-term borrowings	510.000	909.000	416.210
(b) Deferred tax liabilities (Net)	33.178	26.514	21.592
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	3.826	2.410	1.770
Total Non-current Liabilities (3)	547.004	937.924	439.572
(4) Current Liabilities
(a) Short term borrowings	741.730	572.794	631.094
(b) Trade payables	682.506	657.133	397.221
(c) Other current liabilities	596.690	246.739	206.175
(d) Short-term provisions	4.345	3.407	3.592
Total Current Liabilities (4)	2025.271	1480.073	1238.082
TOTAL	3573.149	3406.342	2656.072
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1221.124	1232.553	1048.458
(ii) Intangible Assets	189.264	158.881	85.189
(iii) Capital work-in-progress	467.841	390.124	411.538
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	18.775	19.775	0.125
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	15.427	13.174	13.507
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1912.431	1814.507	1558.817
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	795.257	687.458	491.187
(c) Trade receivables	495.362	574.155	452.460
(d) Cash and cash equivalents	31.599	30.029	18.026
(e) Short-term loans and advances	148.068	121.280	26.151
(f) Other current assets	190.432	178.913	109.431
Total Current Assets	1660.718	1591.835	1097.255
TOTAL	3573.149	3406.342	2656.072

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations	1480.142	1176.137	1017.845
		Other Income	18.705	20.190	1.553
		TOTAL (A)	1498.847	1196.327	1019.398
Less	EXPENSES
		Cost of materials consumed	975.328	712.898	834.567
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(128.069)	(72.341)
		Employee benefit expense	79.861	70.208
		Other expenses	229.325	191.547
		TOTAL (B)	1156.445	902.312	834.567
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		342.402	294.015	184.831
Less	FINANCIAL EXPENSES (D)		231.932	203.236	108.463
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		110.470	90.779	76.368
Less/ Add	DEPRECIATION/ AMORTISATION (F)		91.277	75.930	58.345
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		19.193	14.849	18.023
Less	TAX (H)		6.664	4.922	5.580
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		12.529	9.927	12.443
	EARNINGS IN FOREIGN CURRENCY		461.144	579.900	428.350
	Earnings Per Share (Rs.)		0.16	0.12	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.84	0.83	1.22
Net Profit Margin (PBT/Sales)	(%)	1.30	1.26	1.77
Return on Total Assets (PBT/Total Assets}	(%)	0.62	0.50	0.80
Return on Investment (ROI) (PBT/Networth)		0.02	0.02	0.02
Debt Equity Ratio (Total Debt/Networth)		1.25	1.50	1.07
Current Ratio (Current Asset/Current Liability)		0.82	1.08	0.89

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	795.047	795.047	795.047
Reserves & Surplus	183.371	193.298	205.827
Net worth	978.418	988.345	1000.874
Long-term borrowings	416.210	909.000	510.000
Short term borrowings	631.094	572.794	741.730
Total borrowings	1,047.304	1,481.794	1,251.730
Debt/Equity ratio	1.070	1.499	1.251

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Revenue from operations	1017.845	1176.137	1480.142
		15.552	25.848

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Revenue from operations	1017.845	1176.137	1480.142
Profit	12.443	9.927	12.529
	1.22%	0.84%	0.85%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10138032	25/11/2008	550,000,000.00	STATE BANK OF INDIA	MCLAU, 3-6-281/A/1, FIRST FLOOR, HYDERAGUDA, MAIN ROAD, HYDERABAD, ANDHRA PRADESH - 500029, INDIA	A54763966
2	10204628	21/09/2013 *	827,400,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, 241/A, RAJALA CENTRE, ROAD NO:36, JUBILEEHILLS, HYDERABAD, ANDHRA PRADESH - 500033, INDIA	B87216230
3	10027402	09/10/2013 *	152,500,000.00	BANK OF INDIA	DOOR NO.10-1-1199, HYDERABAD MID CORPORATE BRANCH, 1ST FLOOR, PTI BUILDING, HYDERABAD, ANDHRA PRADESH - 500004, INDIA	B88212360
4	90260299	09/10/2013 *	163,000,000.00	AXIS BANK LIMITED	CORPORATE BANKING BRANCH, GROUND AND 1ST FLOOR, 6- 3-879/B, GREEN LANDS, BEGUMPET, HYDERABAD, ANDHRA PRADESH - 500016, INDIA	B88204458

* Date of charge modification

Unsecured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWING
Rupee term loans from others	125.000	500.000
SHORT TERM BORROWING
Rupee term loans from others	415.551	226.066
Total	540.551	726.066

Note:

The registered office of the company has been shifted from Plot No.88/A, Flat No.401, Sarala Nivas Apartment, Street No.1, Sagar Society, Road No.2, Banjara Hills, Hyderabad – 500 038, Andhra Pradesh, India to present address w.e.f. 15.05.2010.

BUSINESS OF THE COMPANY:

The Company is into the business of manufacturing Active Pharmaceutical ingredients (API’s) and drug intermediates in its state of the art manufacturing facilities located in Hyderabad and Vishakhapatnam.

The Company is focusing its efforts on expanding its presence in contract manufacturing. It’s growing strength by strength with its highly qualified and competent technical team, combining its R&D strengths, manufacturing capabilities.

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

Intangible Assets

· Goodwill

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 records 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] on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.95
UK Pound	1	Rs.99.35
Euro	1	Rs.82.15

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	SUM
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		28

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.