MIRA INFORM REPORT

Report Date :

23.04.2014

IDENTIFICATION DETAILS

Name :	BECTON DICKINSON INDIA PRIVATE LIMITED (w.e.f. 01.08.2001)
Formerly Known As :	BECTON DICKINSON INDIA LIMITED (w.e.f. 01.01.1999) BECTON DICKINSON INDIA PRIVATE LIMITED
Registered Office :	202-204, Tolstoy House, Tolstoy Marg, New Delhi – 110 001
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	06.01.1995
Com. Reg. No.:	55-064117
Capital Investment / Paid-up Capital :	Rs.10.000 millions
CIN No.: [Company Identification No.]	U74899DL1995PTC064117
TAN No.: [Tax Deduction & Collection Account No.]	DELB06447A
PAN No.: [Permanent Account No.]	AAACB2656A
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of manufacturing and trading in broad range of medical supplies, devices, laboratory equipment and diagnostic products.
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 7417000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealing at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

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 DECLINED

Management non-cooperative

(Tel. No.: 91-124-3949390)

LOCATIONS

Registered Office :	202-204, Tolstoy House, Tolstoy Marg, New Delhi – 110 001, India
Tel. No.:	91-11-26913072/ 26913076/ 26913092/ 26913110/ 23312539
Fax No.:	91-11-26831783/ 26932747/ 23724097/ 2383224/ 5/ 6
E-Mail :	shoumitra_bhowal@bd.com
Website :	https://www.bd.com
Head Office/ Regional Office 1 :	6^th Floor, Signature Tower - B, South City I, NH 8, Gurgaon – 122 001, Haryana, India
Tel. No.:	91-124-3949390/ 2383566/ 71
Fax No.:	91-124-2383224-25-26
E-Mail :	bd_india@bd.com
Factory :	Plot No.1, NH - 8, Investate Baswal, District Rewari – 123 401, Haryana, India
Tel. No.:	91-1284-394939/ 264428/ 264430-33/ 284571/ 284572
Fax No.:	91-1284-264432
E-Mail :	bd_india@bd.com
Regional Office 2 :	2^nd Floor, West Wing, Corniche Al-Latheef, No.25, Cunningham Road, Bangalore – 560 052, Karnataka, India
Tel. No.:	91-80-45354666
Fax No.:	91-80-41150587
Regional Office 3 :	Flat No.GB, Saltee Plaza, AN Block, Salt Lake, Naya Patty Pachimpara, Kolkata – 700 102, West Bengal, India
Tel. No.:	91-33-23671230-31
Fax No.:	91-33-23671232
Regional Office 4 :	Boomerang, A-Wing, Unit No.310, Third Floor, Chandivali Farm Road, Chandivali, Near Powai, Andheri (East), Mumbai – 400 076, Maharashtra India
Tel. No.:	91-22-28582430-32
Fax No.:	91-22-28582428

DIRECTORS

AS ON 30.11.2013

Name :

Mr. Chittranjan Dua

Designation :

Alternate Director

Address :

5C, Sagar Apartments, 6, Tilak Marg, New Delhi, India

Date of Birth/Age :

03.11.1951

Date of Appointment :

30.12.2011

DIN No.:

00036080

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	U21098MH1962PLC012488	CABOT INDIA LIMITED	Director	09-04-1987	09-04-1987	-	Active	NO
2	U64203DL1987PTC029740	LINDE ENGINEERING INDIA PRIVATE LIMITED	Director	11-11-1987	11-11-1987	-	Active	NO
3	U32109DL1990FTC039906	STMICROELECTRONICS PRIVATE LIMITED	Director	19-04-1990	19-04-1990	10-09-2007	Active	NO
4	U74899DL1993PTC055015	MCDONALD'S INDIA PRIVATE LIMITED	Director	30-08-1993	30-08-1993	-	Active	NO
5	U19202DL1993PTC052247	FILA SPORT INDIA PRIVATE LIMITED	Director	22-11-1993	22-11-1993	-	Active	NO
6	U74899DL1993PTC056590	LEXSPHERE PRIVATE LIMITED.	Director	22-12-1993	22-12-1993	-	Active	NO
7	U74899DL1979PTC009714	ASSOCIATED CORPORATE CONSULTANTS INDIA PRIVATE LIMITED	Director	02-05-1995	02-05-1995	-	Active	NO
8	U74899DL1989PTC038649	RESULT SERVICES PRIVATE LIMITED	Director	02-05-1995	02-05-1995	-	Active	NO
9	U74899DL1995PTC068500	PBE INDIA PRIVATE LIMITED	Director	15-05-1995	15-05-1995	-	Under liquidation	NO
10	U65993DL1979PTC009973	AMIT INVESTMENTS PRIVATE LIMITED	Director	19-07-1995	19-07-1995	-	Active	NO
11	U74899DL1995PTC064117	BECTON DICKINSON INDIA PRIVATE LIMITED	Alternate director	30-12-2011	18-12-1995	-	Active	NO
12	U25209DL1996PTC078605	TUPPERWARE INDIA PRIVATE LIMITED	Director	01-05-1996	01-05-1996	13-01-2010	Active	NO
13	U33112HR1996PTC038528	BAXTER INDIA PRIVATE LIMITED	Director	11-06-1996	11-06-1996	18-04-2008	Active	NO
14	U40109DL1997FTC085582	EMERSON PROCESS MANAGEMENT POWER AND WATER SOLUTIONS INDIA PRIVATE LIMITED	Director	26-03-1997	26-03-1997	-	Active	NO
15	U24291MH1923PLC001082	WIMCO LIMITED	Director	21-04-1998	21-04-1998	-	Active	NO
16	U74999DL2000PTC103170	ELCA COSMETICS PRIVATE LIMITED	Director	10-01-2000	10-01-2000	20-10-2009	Active	NO
17	U74899DL1992PTC051031	INAPEX PRIVATE LIMITED	Director	06-09-2001	06-09-2001	-	Active	NO
18	L35921TN1992PLC022845	TVS MOTOR COMPANY LIMITED	Director	27-12-2001	27-12-2001	-	Active	NO
19	L28931RJ1984PLC002890	GILLETTE INDIA LIMITED	Director	31-07-2002	31-07-2002	-	Active	NO
20	U74200KA1997PTC023189	UL INDIA PRIVATE LIMITED	Director	03-04-2003	03-04-2003	-	Active	NO
21	L33301DL1988PLC033434	TIMEX GROUP INDIA LIMITED	Alternate director	28-05-2009	19-01-2004	30-07-2009	Active	NO
22	U74899DL1995PTC070306	CONNAUGHT PLAZA RESTAURANTS PRIVATE LIMITED	Alternate director	24-02-2005	24-02-2005	18-08-2008	Active	NO
23	U29199DL2005FTC142899	LAF FIRE SAFETY SYSTEMS INDIA PRIVATE LIMITED	Director	23-11-2005	23-11-2005	19-12-2006	Active	NO
24	U72300DL2006PTC149510	VAN SOFTECH SOLUTIONS ONE PRIVATE LIMITED	Director	06-06-2006	06-06-2006	25-07-2007	Active	NO
25	U74996DL2006PTC150392	VAN FILMS REMAKE THREE INDIA PRIVATE LIMITED	Director	29-06-2006	29-06-2006	25-07-2007	Active	NO
26	U74996DL2006PTC150838	VAN FILMS REMAKE ONE INDIA PRIVATE LIMITED.	Director	11-07-2006	11-07-2006	25-07-2007	Active	NO
27	U21022DL2006PTC152671	CADMUS PACKAGING PRIVATE LIMITED	Director	29-08-2006	29-08-2006	01-09-2008	Active	NO
28	U29118DL2006PTC152991	NOSKE-KAESER INDIA PRIVATE LIMITED	Director	04-09-2006	04-09-2006	22-06-2007	Active	NO
29	L74899DL1989PLC036849	PEARL GLOBAL INDUSTRIES LIMITED	Director	12-09-2006	12-09-2006	-	Active	NO
30	U32200MH1992PLC119108	VODAFONE INDIA LIMITED	Director	15-06-2007	27-09-2006	-	Active	NO
31	U34300DL1996FTC078874	STANLEY WORKS (INDIA) PRIVATE LIMITED	Director	28-09-2007	22-11-2006	08-10-2009	Active	NO
32	U74140DL2006FTC155125	ALCOA INDIA PRIVATE LIMITED	Alternate director	11-06-2007	20-12-2006	12-02-2014	Active	NO
33	U13203DL2007PTC158380	LAND MINERALS EXPLORATION PRIVATE LIMITED	Director	24-01-2007	24-01-2007	-	Strike off	NO
34	U13203DL2007PTC158515	CCRI EXPLORATION PRIVATE LIMITED	Director	29-01-2007	29-01-2007	-	Strike off	NO
35	U63040DL2006PTC154671	UNIVERSAL WEATHER AND AVIATION INDIA PRIVATE LIMITED	Director	31-01-2007	31-01-2007	04-10-2011	Active	NO
36	U14291DL2007PTC158715	NEWFOUND EXPLORATION PRIVATE LIMITED	Director	02-02-2007	02-02-2007	-	Strike off	NO
37	U65910DL1985PTC020969	MCCANN-ERICKSON INDIA PRIVATE LIMITED	Director	06-02-2007	06-02-2007	-	Active	NO
38	U40101TN2007PTC086532	ALLISON TRANSMISSION INDIA PRIVATE LIMITED	Director	30-05-2007	30-05-2007	01-05-2008	Active	NO
39	U72900DL2007PTC170969	SINGTEL GLOBAL (INDIA) PRIVATE LIMITED	Director	03-12-2007	03-12-2007	06-12-2007	Active	NO
40	U34102GJ2008PTC054265	CHEVROLET SALES INDIA PRIVATE LIMITED	Director	20-06-2008	20-06-2008	14-08-2008	Active	NO
41	U72300TN1996PTC036570	SELLA SYNERGY INDIA PRIVATE LIMITED	Director	08-04-2010	17-04-2009	-	Active	NO
42	U29129TN1960PLC004337	TRACTORS AND FARM EQUIPMENT LIMITED.	Additional director	28-08-2013	25-01-2011	-	Active	NO
43	U18101DL2013PTC248406	NORLING PRIVATE LIMITED	Director	18-02-2013	18-02-2013	-	Active	NO

Name :

Mr. Richard Allen Carbone

Designation :

Director

Address :

516, Carlton Road, Wyckoff, New Jersey, USA

Date of Birth/Age :

02.12.1952

Date of Appointment :

07.02.1997

DIN No.:

00825835

Name :

Mr. Gary Michael Defazio

Designation :

Director

Address :

4, Herman Way, Towaco, New Jersey, USA

Date of Birth/Age :

09.08.1964

Date of Appointment :

30.09.2003

DIN No.:

00825848

Name :

Mr. Ravi Dawar

Designation :

Alternate Director

Address :

C-408, Defence, Colony, New Delhi – 110 024, India

Date of Birth/Age :

20.12.1965

Qualification :

CA

Experience :

23 Years

Date of Appointment :

31.12.2011

DIN No.:

02266961

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	U74899DL1995PTC064117	BECTON DICKINSON INDIA PRIVATE LIMITED	Alternate director	31-12-2011	11-07-2008	-	Active	NO

Name :

Mr. Bhupinder Pal Singh

Designation :

Director

Address :

9 TG RHU Road, #23-01, Singapore - 436894

Date of Birth/Age :

24.11.1964

Date of Appointment :

29.09.2012

DIN No.:

05245699

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	U74899DL1995PTC064117	BECTON DICKINSON INDIA PRIVATE LIMITED	Director	29-09-2012	17-05-2012	-	Active	NO

KEY EXECUTIVES

Name :	Sunit Trivedi
Designation :	Business Director - Biosciences
Name :	Sunil Mittal
Designation :	Plant Manager
Name :	Pavan Kumar Mocherla
Designation :	Business Director, EMA
Name :	Murli Sundrani
Designation :	Business Director - BDPS
Name :	Manish Sinha
Designation :	Director – Human Resources
Name :	Vivek Malhotra
Designation :	Director - WW Immunization Solutions Initiative
Name :	V. Sourirajan
Designation :	Director - New Business Development
Name :	Niju Ponnappan
Designation :	Director - Supply Chain
Name :	Adarsh Pal Singh
Designation :	Director, Medical Affairs - PAS, Central & South Asia
Name :	Sanjay Sarin
Designation :	Regional Director, Global Health
Name :	Praveen Nair
Designation :	Associate Director – Injection Systems
Name :	Neeraj Raghuvanshi
Designation :	Business Director - PAS
Name :	Punit Kohli
Designation :	Business Director - BDDS

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.11.2013

Names of Shareholders	No. of Shares
Becton Dickinson Holdings Pte Limited, Singapore	999980
Becton Dickinson Insulin Syringe Limited, Islands	20
Total	1000000

AS ON 30.11.2013

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of manufacturing and trading in broad range of medical supplies, devices, laboratory equipment and diagnostic products.
Products :	Hypodermics and Insulin Needles and Syringes Insyte and Adsyte Infusion Therapy Products Bactec Instrument

PRODUCTION STATUS (AS ON 31.03.2011):

Particulars	Unit	Installed Capacity*	Actual Production
Insulin Syringes	Nos.	85000	53001
Hypodermic Syringes	Nos.	160000	221669
Hypodermic Needles	Nos.	450000	163739
IVC	Nos.	55000	38129
Alcohol Swab and Others	Nos.	12000	12343

* On triple shift basis

Licensed capacity is not applicable in all cases.

GENERAL INFORMATION

No. of Employees :

Information declined by the Management.

Bankers :

• Citi Bank N.A., Jeevan Bharti Building, Connought Place, New Delhi – 110 001, India
• Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23, Barakhamba Road, New Delhi – 110 001, India

Facilities :

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT-TERM BORROWINGS
Loans repayable on demand from banks (Cash Credit from Bank and it is a Cash credit from Standard Chartered Bank is secured against stock and book debts. The cash credit is repayable on demand and carries interest @ 11.85%.)	204.000	58.200
Total	204.000	58.200

Banking Relations :	--
Auditors :
Name :	S.R. Batliboi and Company Chartered Accountants
Address :	Hindustan Times Building, 18-20, K.G. Marg, 6^th Floor, New Delhi, India
PAN No.:	AALFS0506L
Holding Companies :	Becton Dickinson and Company, USA, Ultimate Holding Company Becton Dickinson Holding Pte Limited, Singapore, Immediate Holding Company (w.e.f. March 29, 2012) Becton Dickinson (Mauritius) Limited, Immediate Holding Company (till March 28, 2012)
Fellow Subsidiaries :	Becton Dickinson Infusion Therapy AB, Sweden Becton Dickinson and Company, Singapore Becton Dickinson Medical System Pte Limited, Singapore Becton Dickinson Critical Care System Pte Limited, Singapore Becton Dickinson Pty. Limited, Australia Becton Dickinson Medical Devices Co. Limited, China Benex Limited, Ireland Becton Dickinson Medical Products Pte Limited, Singapore Becton Dickinson Biosciences, USA Becton Dickinson France S.A., France Becton Dickinson, Korea Becton Dickinson, Tripath Becton Dickinson Asia Limited, Hong Kong Becton Dickinson International

CAPITAL STRUCTURE

AS ON 30.11.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
160000000	Equity Shares	Rs.10/- each	Rs.1600.000 millions
100000000	Preference Shares	Rs.10/- each	Rs.1000.000 millions
	Total		Rs.2600.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 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	10.000	10.000	512.900
(b) Reserves & Surplus	1844.300	1614.200	1280.900
(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)	1854.300	1624.200	1793.800
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	21.900	48.700	36.400
Total Non-current Liabilities (3)	21.900	48.700	36.400
(4) Current Liabilities
(a) Short term borrowings	204.000	58.200	0.000
(b) Trade payables	2025.200	1882.500	1558.500
(c) Other current liabilities	119.100	96.900	75.000
(d) Short-term provisions	104.100	49.000	44.600
Total Current Liabilities (4)	2452.400	2086.600	1678.100
TOTAL	4328.600	3759.500	3508.300
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1239.600	1120.800	554.400
(ii) Intangible Assets	8.300	13.000	1.200
(iii) Capital work-in-progress	197.400	242.200	293.300
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	99.200	79.400	93.900
(d) Long-term Loan and Advances	418.000	476.600	376.400
(e) Other Non-current assets	78.200	81.400	65.800
Total Non-Current Assets	2040.700	2013.400	1385.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1110.500	1029.400	842.000
(c) Trade receivables	859.000	536.300	498.100
(d) Cash and cash equivalents	183.400	72.700	690.000
(e) Short-term loans and advances	121.700	98.800	82.000
(f) Other current assets	13.300	8.900	11.200
Total Current Assets	2287.900	1746.100	2123.300
TOTAL	4328.600	3759.500	3508.300

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	5643.400	4766.600	3984.300
		Other Income
		TOTAL	5643.400	4766.600	3984.300
Less	EXPENSES
		Office Expenses	5320.700	4253.500	3351.100
		Administrative Expenses
		Advertising Expenses
		TOTAL	5320.700	4253.500	3351.100
	PROFIT / (LOSS) BEFORE TAX		322.700	513.100	633.200
Less	TAX		92.600	170.000	210.500
	PROFIT / (LOSS) AFTER TAX		230.100	343.100	422.700
	EARNINGS IN FOREIGN CURRENCY
		Canvassing and Warranty Commission	405.300	360.900	270.400
		FOB Value of exports	276.700	393.700	258.200
		Compensating Adjustments	270.200	0.000	0.000
		Service Income	15.900	16.600	20.700
	TOTAL EARNINGS		968.100	771.200	549.300
	IMPORTS
		Capital Goods	NA	530.800	121.700
		Raw materials and packing materials	NA	558.600	590.900
		Traded goods	NA	1798.400	1239.900
		Store & spare parts	NA	25.500	16.300
	TOTAL IMPORTS		NA	2913.300	1968.800
	Earnings / (Loss) Per Share (Rs.)		230.10	343.10	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	4.08	7.20	10.61
Return on Total Assets (PBT/Total Assets}	(%)	8.00	14.92	20.29
Return on Investment (ROI) (PBT/Networth)		0.17	0.32	0.35
Debt Equity Ratio (Total Debt/Networth)		0.11	0.04	0.00
Current Ratio (Current Asset/Current Liability)		0.93	0.84	1.27

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	512.900	10.000	10.000
Reserves & Surplus	1280.900	1614.200	1844.300
Net worth	1793.800	1624.200	1854.300
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	58.200	204.000
Total borrowings	0.000	58.200	204.000
Debt/Equity ratio	0.000	0.036	0.110

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)
Total Income	3984.300	4766.600	5643.400
		19.635	18.395

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Total Income	3984.300	4766.600	5643.400
Profit	422.700	343.100	230.100
	10.61%	7.20%	4.08%

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

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10435481	13/06/2013	250,000,000.00	CITI BANK N.A.	JEEVAN BHARTI BUILDING, CONNOUGHT PLACE, NEW DELHI - 110001, INDIA	B79033643
2	80004247	19/09/2011 *	530,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA	B21795786

* Date of charge modification

CORPORATE INFORMATION:

The company is a Company that serves healthcare institutions, life science researchers, clinical laboratories, industry and the general public. It manufactures and trades in broad range of medical supplies, devices, laboratory equipment and diagnostic products.

OPERATIONS:

During the period the company’s Revenues in the current year grew by 18.39% over the previous annualized period. Corrective actions were taken in earlier years relating to stock imbalances in the distribution channels, enforcement of effective credit policies and rationalisation of distributors. The drive on the supply chain front to bring further operational efficiencies continues. The Company has achieved significant growth across most business segments.

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipments

· Furniture and Fixtures

· Vehicles

· Office Equipments

· Leasehold Improvements

Intangible Assets

· Computer software

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.60.71
UK Pound	1	Rs.102.04
Euro	1	Rs.83.77

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	RAS
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.