MIRA INFORM REPORT

Report Date :

19.07.2014

IDENTIFICATION DETAILS

Name :	ANDHRA MEDI PHARMA INDIA PRIVATE LIMITED
Registered Office :	D.No.40-25-35/1, Opposite Kesava Towers, Ashram Street, Patamata Lanka, Vijayawada – 520010, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.11.2009
Com. Reg. No.:	01-065969
Capital Investment / Paid-up Capital :	Rs.22.500 Millions
CIN No.: [Company Identification No.]	U24233AP2009PTC065969
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and exporter of glucosamine hydrochloride.
No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating reflects company’s weak financial risk profile marked by accumulated losses incurred over a year and below average financial performance of the company. However, trade relations are fair. Business is active. Payment terns are slow. 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 – 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

N E W S

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Mastan
Designation :	Production Department
Contact No.:	91-866-2479144
Date :	15.07.2014

LOCATIONS

Registered Office :	D.No.40-25-35/1, Opposite Kesava Towers, Ashram Street, Patamata Lanka, Vijayawada – 520010, Andhra Pradesh, India
Tel. No.:	91-866-2479144
Fax No.:	91-866-2479144
E-Mail :	kishore@ampil.in info@ampil.in sales@ampil.in rajeev@ampil.in ksn@ampil.in bs@ampil.in purchase@ampil.in
Website :	www.ampil.in
Location :	Owned
Locality :	Commercial
Factory :	Sy. No.263, Veeravalli Village, Bapulapadu Mandai, Krishna – 521110, Andhra Pradesh, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Rajeev Chilakapati

Designation :

Director

Address :

D. No.3, 6-C, Road No.11, Film Nagar, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

01.04.1980

Date of Appointment :

26.11.2009

DIN No.:

01924690

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	U45200TG2008PTC057352	SRI UDBAVA INFRA DEVELOPERS PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
2	U24233AP2009PTC065969	ANDHRA MEDI PHARMA INDIA PRIVATE LIMITED	Director	26/11/2009	26/11/2009	-	Active	NO

Name :

Mr. Anjana Chilakapati

Designation :

Director

Address :

D. No.3, 6-C, Road No.11, Film Nagar, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

26.09.1983

Date of Appointment :

26.11.2009

DIN No.:

01924734

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	U45200TG2008PTC057352	SRI UDBAVA INFRA DEVELOPERS PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
2	U24233AP2009PTC065969	ANDHRA MEDI PHARMA INDIA PRIVATE LIMITED	Director	26/11/2009	26/11/2009	-	Active	NO
3	U24232AP2010PTC071768	JAHNAVI CHEM PRODUCTS PRIVATE LIMITED	Director	21/12/2010	21/12/2010	-	Active	NO

Name :

Mr. Burugupalli Srinivas

Designation :

Director

Address :

Velevennu Post Burugupalli Vari Street, West Godavari – 534355, Andhra Pradesh, India

Date of Birth/Age :

08.04.1968

Date of Appointment :

03.12.2010

DIN No.:

03299494

Name :

Mr. Garikipati Kishore Kumar

Designation :

Director

Address :

40-25-35, Venkateswara Puram, Autonagar, Vijayawada – 520007, Andhra Pradesh, India

Date of Birth/Age :

30.08.1980

Date of Appointment :

15.04.2011

DIN No.:

03305008

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	U24232AP2010PTC071768	JAHNAVI CHEM PRODUCTS PRIVATE LIMITED	Director	21/12/2010	21/12/2010	-	Active	NO
2	U24233AP2009PTC065969	ANDHRA MEDI PHARMA INDIA PRIVATE LIMITED	Director	15/04/2011	15/04/2011	-	Active	NO

Name :

Mr. Kolathur Srinarayanan

Designation :

Director

Address :

4291 Block, 8C Main Road, Kalyan Nagar, Bangalore – 560043, Karnataka, India

Date of Birth/Age :

22.05.1965

Date of Appointment :

03.12.2010

DIN No.:

03306787

Name :

Mr. Sirigina Srinivasa Rao

Designation :

Director

Address :

Valivennu Undrajavaram 1-43(2), West Godavari – 534329, Andhra Pradesh, India

Date of Birth/Age :

10.02.1970

Date of Appointment :

15.04.2011

DIN No.:

03434218

KEY EXECUTIVES

Name :	Mr. Mastan
Designation :	Production Department

MAJOR SHAREHOLDERS

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Rajeev Chilakapati	112500
Anjana Chilakapati	337500
Garikipati Kishore Kumar	337500
Burugupalli Srinivas	450000
Kolathur Srinarayanan	180000
B Visalashi	180000
B Satyanarayana	135000
Sirigina Srinivasa Rao	112500
B Thatharao	112500
K Sivamohanrao	112500
M Ramakrishna	180000
Total	2250000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and exporter of glucosamine hydrochloride.
Exports :
Products :	Finished Goods
Countries :	· Japan · USA
Terms :
Selling :	L/C and Credit
Purchasing :	L/C and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

70 (Approximately)

Bankers :

Indian Bank, Govenerpet, Vijayawada – 520002, Andhra Pradesh, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Indian Rupee Loans from Banks
Term Loan from Bank	36.262	39.961
Short Term Borrowings
Indian Bank Over Draft	9.858	8.764
Total	46.120	48.725

Banking Relations :	--
Auditors :
Name :	Damdamudi and Associates Chartered Accountants
Address :	29-19-9, Swarna Heights Apartments, Dornakal Road, Suryaraopet, Vijayawada – 520002, Andhra Pradesh, India
PAN No.:	AAEFD6598G

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2250000	Equity Shares	Rs.10/- each	Rs.22.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2250000	Equity Shares	Rs.10/- each	Rs.22.500 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	22.500	22.500	0.100
(b) Reserves & Surplus	(12.079)	(3.985)	0.000
(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)	10.421	18.515	0.100
(3) Non-Current Liabilities
(a) long-term borrowings	46.420	48.120	0.000
(b) Deferred tax liabilities (Net)	0.374	1.085	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	46.794	49.205	0.000
(4) Current Liabilities
(a) Short term borrowings	9.858	8.764	0.000
(b) Trade payables	24.015	20.118	0.000
(c) Other current liabilities	23.925	15.482	21.447
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	57.798	44.364	21.447
TOTAL	115.013	112.084	21.547
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	73.823	81.390	10.107
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.732
(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	0.524	0.399	0.481
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	74.347	81.789	11.320
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	19.500	20.296	0.000
(c) Trade receivables	17.322	6.742	0.000
(d) Cash and cash equivalents	0.406	0.105	6.856
(e) Short-term loans and advances	3.438	3.152	3.371
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	40.666	30.295	10.227
TOTAL	115.013	112.084	21.547

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	113.998	13.379	0.000
		Other Income	0.000	0.000	0.000
		TOTAL (A)	113.998	13.379	0.000
Less	EXPENSES
		TOTAL (B)		10.573	0.000
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			2.806	0.000
Less	FINANCIAL EXPENSES (D)			2.432	0.000
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			0.374	0.000
Less	DEPRECIATION/ AMORTISATION (F)			(3.274)	0.000
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			(2.900)	0.000
Less	TAX (H)			1.085	0.000
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		(8.094)	(3.985)	0.000
	Earnings/(Loss) Per Share (Rs.)		(3.60)	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(7.10)	(29.79)	NA
Net Profit Margin (PBT/Sales)	(%)	NA	(21.68)	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	(2.59)	NA
Return on Investment (ROI) (PBT/Networth)		NA	(0.16)	NA
Debt Equity Ratio (Total Debt /Networth)		5.40	3.07	0.00
Current Ratio (Current Asset/Current Liability)		0.70	0.68	0.48

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	0.100	22.500	22.500
Reserves & Surplus	0.000	(3.985)	(12.079)
Net worth	0.100	18.515	10.421
long-term borrowings	0.000	48.120	46.420
Short term borrowings	0.000	8.764	9.858
Total borrowings	0.000	56.884	56.278
Debt/Equity ratio	0.000	3.072	5.400

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Sales	13.379	113.998
		752.067

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Sales	13.379	113.998
Profit	(3.985)	(8.094)
	(29.79%)	(7.10%)

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

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Loans from Others	10.158	8.159
Total	10.158	8.159

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10285586	20/04/2011	49,500,000.00	INDIAN BANK	MUDDA SUBBAIAH STREET, GOVERNERPET, VIJAYAWADA, ANDHRA PRADESH - 520002, INDIA	B12408662

FIXED ASSETS:

· Computer and Accessories

· Electricals

· Furniture and Fixture

· Plant and Machinery

· Vehicles

· Building

· 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.60.33
UK Pound	1	Rs.103.18
Euro	1	Rs.81.58

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	KRN
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	--
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.