MIRA INFORM REPORT

Report Date :

04.02.2014

IDENTIFICATION DETAILS

Name :	LUCKY PHARMACEUTICALS PRIVATE LIMITED
Registered Office :	46,Church Road, Jungpura Bhogal, New Delhi – 110014
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	29.07.2008
Com. Reg. No.:	55-181486
Capital Investment / Paid-up Capital :	Rs.15.000 Millions
CIN No.: [Company Identification No.]	U24232DL2008PTC181486
TAN No.: [Tax Deduction & Collection Account No.]	DELL03990A
PAN No.: [Permanent Account No.]	AABCL4985D
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in Pharmaceutical Products.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 330000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relation reported to be fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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 – 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

The services sector, the largest contributor to India’s GDP, contracted for the sixth consecutive month in December, as orders dipped. However, hiring has risen.  Direct tax collections rose 12.3 % during the April – December period of the current financial year.  The government has decided to retain 100 per cent foreign direct investment in both greenfield (new) and brown field (existing) pharmaceutical companies, despite concerns over genetic drugs going out of production, if multi-national companies take over domestic ones. In M&A deals, a non compete clause would not be allowed, except in special circumstances. The Department of Industrial Policy and Promotion plans to release the next edition of its consolidated foreign direct investment policy document on March 31, incorporating changes made in the past year. DIPP compiles all policies related to India’s FDI regime into a single document to make it easy for investors to understand. 185 million estimated number of mobile internet users in India by June 2014, according to a report by the Internet & Mobile Association of India and IMRB International.  India had 110 million mobile internet users with 25 million in rural areas. $3.77 tn estimated global IT spending in 2014, according to research firm Gartner Inc. The growth forecast for this year is cut to 3.1 %from the earlier estimate of 3.5 %. The spending growth forecast for telecom services – a segment that accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is the main reason for this overall IT cut. A Reserve Bank of India committee has recommended setting up a special category of lenders who would cater to small businesses and households, to expand the number of customers with access to banking services. These banks would focus onproviding payment services and deposit products.  Indian banks want the free use of automated teller machines to be capped at five transactions in a month including that of the bank in which the account is active. This follows state government order to banks to install security guards at ATM booths after a woman banker was assaulted in Bangalore. The government is likely to present a vote on Account in mid-February. The annual Economic Survey will be tabled later in Parliament along with the full Budget. A full Budget for 2014/15 is likely to be present in July by the new government formed after the General Election. The government will soon launch an internet spy system, called Netra, to detect malafide messages. Security agency will deploy the system to capture dubious voice traffic on applications such as Skype and Google Talk, as well as tweeters.

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 (GENERAL DETAILS)

Name :	Mr. Veerinder Pal Singh
Designation :	Director
Contact No.:	91-9810073556
Date :	03.02.2014

LOCATIONS

Registered Office / Warehouse 1 :	46, Church Road, Jungpura Bhogal, New Delhi – 110014, India
Tel. No.:	91-11-23270220
Mobile No.:	91-9810073556 Mr. Veerinder Pal Singh)
Fax No.:	Not Available
E-Mail :	psharma5858@gmail.com ippldelhi@yahoo.com
Location :	Owned
Warehouse 2 :	B-1/ E-18, Basement, LPG House, Mohan Cooperative Industrial Estate, Mathura Road, Delhi – 110044, India
Tel. No.:	91-11-30837500/ 41516148

DIRECTORS

As on 24.09.2013

Name :

Mr. Veerinder Pal Singh

Designation :

Managing Director

Address :

46, Church Road, Jungpura Bhogal, New Delhi – 110014, India

Date of Birth/Age :

13.11.1951

Date of Appointment :

29.07.2008

DIN No.:

02241954

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	U24232DL2008PTC181486	LUCKY PHARMACEUTICALS PRIVATE LIMITED	Managing director	29/07/2008	29/07/2008	-	Active	NO
2	U33110DL2010PTC210931	SAVIOUR WELLNESS PRIVATE LIMITED	Director	30/11/2010	30/11/2010	-	Active	NO

Name :

Mr. Harsharan Kaur

Designation :

Director

Address :

46, Church Road, Jungpura Bhogal, New Delhi – 110014, India

Date of Birth/Age :

12.08.1952

Date of Appointment :

20.10.2008

DIN No.:

02304618

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	U24232DL2008PTC181486	LUCKY PHARMACEUTICALS PRIVATE LIMITED	Director	20/10/2008	20/10/2008	-	Active	NO
2	U24230TN2007PTC064220	PALEPU PHARMA PRIVATE LIMITED	Director	22/07/2009	22/10/2008	-	Active	NO
3	U85110KA1992PTC013757	VARDHMAN PHARMA DISTRIBUTORS PRIVATE LIMITED	Nominee director	23/10/2008	23/10/2008	-	Active	NO
4	U24239MH2001PTC130423	MEHER DISTRIBUTORS PRIVATE LIMITED	Nominee director	29/09/2010	02/12/2009	-	Active	NO
5	U24233TN2009PTC073062	MEDIHAUXE INTERNATIONAL PRIVATE LIMITED	Director	16/09/2010	05/02/2010	-	Active	NO
6	U24232KA2006PTC040347	PROSERVE HEALTHLINES (INDIA) PRIVATE LIMITED	Nominee director	15/11/2010	15/11/2010	-	Active	NO
7	U24239AP2003PTC041637	INDIAN HOSPITEX PRIVATE LIMITED	Director	26/08/2011	22/02/2011	-	Active	NO
8	U24233DL1999PTC099355	NEELKANTH DRUGS PRIVATE LIMITED	Director	29/06/2011	29/06/2011	-	Active	NO

Name :

Mr. Arvind Kumar Venkat

Designation :

Managing Director

Address :

Flat 107, Aparna Chandradeep Apartment, Road No. 7, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

15.10.1959

Date of Appointment :

20.10.2008

DIN No.:

02304618

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	U24232DL2008PTC181486	LUCKY PHARMACEUTICALS PRIVATE LIMITED	Director	20/10/2008	20/10/2008	-	Active	NO
2	U24230TN2007PTC064220	PALEPU PHARMA PRIVATE LIMITED	Director	22/07/2009	22/10/2008	-	Active	NO
3	U85110KA1992PTC013757	VARDHMAN PHARMA DISTRIBUTORS PRIVATE LIMITED	Nominee director	23/10/2008	23/10/2008	-	Active	NO
4	U24239MH2001PTC130423	MEHER DISTRIBUTORS PRIVATE LIMITED	Nominee director	29/09/2010	02/12/2009	-	Active	NO
5	U24233TN2009PTC073062	MEDIHAUXE INTERNATIONAL PRIVATE LIMITED	Director	16/09/2010	05/02/2010	-	Active	NO
6	U24232KA2006PTC040347	PROSERVE HEALTHLINES (INDIA) PRIVATE LIMITED	Nominee director	15/11/2010	15/11/2010	-	Active	NO
7	U24239AP2003PTC041637	INDIAN HOSPITEX PRIVATE LIMITED	Director	26/08/2011	22/02/2011	-	Active	NO
8	U24233DL1999PTC099355	NEELKANTH DRUGS PRIVATE LIMITED	Director	29/06/2011	29/06/2011	-	Active	NO

MAJOR SHAREHOLDERS

As on 24.09.2013

Names of Shareholders	No. of Shares
Veerinder Pal Singh	270000
Harsharan Kaur	225000
Keimed Private Limited, India	690001
Shobana Kamineni	29999
Pushpa Umapathy	285000
Total	1500000

Equity Share Break up (Percentage of Total Equity)

As on 24.09.2013

Category	Percentage
Bodies corporate	46.00
Directors or relatives of Directors	33.00
Other top fifty shareholders	21.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading in Pharmaceutical Products.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

No. of Employees :

100 (Approximately)

Bankers :

· HDFC Bank, HDFC Bank House, Senapathi Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

· Kotak Mahindra Bank Limited, 36-38 A, Nariman Bhavan, 227, D, Nariman Point,, Mumbai - 400021, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Loan taken from vehicles	0.321	0.607
Short Term Borrowings
Working capital loans from bank	95.265	92.261
Total	95.586	92.868

Banking Relations :	--
Auditors :
Name :	Sharma Anand and Company Chartered Accountants
Address :	9/6584, Street No. 3, Dev Nagar, Karol Bagh, New Delhi – 110005, India
PAN No.:	AAKFS1283K

CAPITAL STRUCTURE

As on 24.09.2013

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
1500000	Equity Shares	Rs.10/- each	Rs.15.000 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	15.000	15.000	15.000
(b) Reserves & Surplus	68.199	58.550	50.924
(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)	83.199	73.550	65.924
(3) Non-Current Liabilities
(a) long-term borrowings	0.321	0.607	0.862
(b) Deferred tax liabilities (Net)	0.154	0.278	0.567
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.107	0.800	0.310
Total Non-current Liabilities (3)	0.582	1.685	1.739
(4) Current Liabilities
(a) Short term borrowings	95.265	92.261	96.430
(b) Trade payables	36.387	20.524	57.938
(c) Other current liabilities	2.366	2.393	3.075
(d) Short-term provisions	17.506	9.829	10.762
Total Current Liabilities (4)	151.524	125.007	168.205
TOTAL	235.305	200.242	235.868
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.356	4.897	6.746
(ii) Intangible Assets	11.968	15.737	20.982
(iii) Capital work-in-progress	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	6.769	1.760	1.950
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	23.093	22.394	29.678
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	104.278	84.441	107.043
(c) Trade receivables	89.202	70.788	78.320
(d) Cash and cash equivalents	3.626	14.649	9.354
(e) Short-term loans and advances	15.057	7.869	11.321
(f) Other current assets	0.049	0.101	0.152
Total Current Assets	212.212	177.848	206.190
TOTAL	235.305	200.242	235.868

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		1210.790	1232.063	1405.752
		Other Income		0.045	0.159	0.086
		TOTAL (A)		1210.835	1232.222	1405.838
Less	EXPENSES
		Cost of Materials Consumed
		Employee Benefits Expenses
		Other Expenses
		TOTAL (B)		1175.950	1196.692	1443.732
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			34.885	35.530	37.894
Less	FINANCIAL EXPENSES (D)			9.640	11.892	10.179
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			25.245	23.638	27.715
Less	DEPRECIATION/ AMORTISATION (F)			5.300	6.921	8.328
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			19.945	16.717	19.387
Less	TAX (H)			6.596	5.445	6.539
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			13.349	11.272	12.848
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			15.383	9.757	1.526
Less	APPROPRIATIONS
			Proposed dividend on equity shares	3.750	3.000	2.250
			Tax on proposed dividend	0.637	0.487	0.365
			Transfer to general reserve	2.000	2.000	2.000
			Prior period adjustment	(0.687)	0.159	0.002
	BALANCE CARRIED TO THE B/S			23.032	15.383	9.757
	Earnings Per Share (Rs.)			8.90	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.10	0.91	0.91
Net Profit Margin (PBT/Sales)	(%)	1.65	1.36	1.38
Return on Total Assets (PBT/Total Assets}	(%)	8.48	8.35	8.22
Return on Investment (ROI) (PBT/Networth)		0.24	0.23	0.29
Debt Equity Ratio (Total Debt /Networth)		1.15	1.26	1.48
Current Ratio (Current Asset/Current Liability)		1.40	1.42	1.23

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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

BACKGROUND

The Company was incorporated on 29th July,2008 with the object to carry on the business of Trading in Pharmaceutical products. The company has been carrying on the business since December 2008.

OPERATIONS

During the year the gross revenue of the company has decreased to Rs.1210.700 Millions as compared to previous year turnover of Rs.1232.100 Millions due to stiff competition in the market. But the profit after tax for the year has increased to Rs.1334.900 Millions (N.P. ratio after tax 1.10%) as compared to previous year Profit after tax of Rs.1127.200 Millions (N.P. ratio after tax 0.91%) due to stiff steps taken by the management to reduce the overhead expenses.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10249581	23/03/2011 *	100,000,000.00	HDFC BANK	HDFC BANK HOUSE, SENAPATHI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, Maharashtra - 400013, INDIA	B12257549

*Date of modification Charges

FIXED ASSETS:

· Computers

· Software

· Plant and machinery

· Office Equipment

· Furniture and fittings

· Vehicles

· 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 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.62.69
UK Pound	1	Rs.102.97
Euro	1	Rs.84.58

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	VNT

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	6
--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		46

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.