MIRA INFORM REPORT

Report Date :

10.06.2014

IDENTIFICATION DETAILS

Name :	ASTER DM HEALTHCARE PRIVATE LIMITED (w.e.f. 29.11.2013)
Formerly Known As :	DM HEALTHCARE PRIVATE LIMITED
Registered Office :	IX/475l, Aster Medcity, Kuttisahib Road, Near Kothad Bridge, South Chittoor P.O, Cheranalloor, Kochi – 682027, Kerala
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	18.01.2008
Com. Reg. No.:	09-021703
Capital Investment / Paid-up Capital :	Rs.1248.437 Millions
CIN No.: [Company Identification No.]	U85110KL2008PTC021703
TAN No.: [Tax Deduction & Collection Account No.]	CHND01413G
PAN No.: [Permanent Account No.]	AACCD7912K
Legal Form :	Private Limited Liability Company
Line of Business :	Rendering quality healthcare, construction of hospitals and allied services.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 19000000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Financial positions of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – 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.2453.2 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 DENIED BY

Name :	Mr. Sooraj
Designation :	Finance Manager
Contact No.:	91-484-6699999
Date :	09.06.2014

LOCATIONS

Registered Office :	IX/475l, Aster Medcity, Kuttisahib Road, Near Kothad Bridge,South Chittoor P.O, Cheranalloor, Kochi – 682027, Kerala, India
Tel. No.:	91-484-6699999
Fax No.:	Not Available
E-Mail :	cs@dmhealthcare.com sooraj.p@dmhealthcare.com
Website :	http://asterdmhealthcare.com
Corporate Head Quarters :	33rd Floor, Tower D – Aspect Towers, Executive Towers at Bay Avenue, Business Bay, P.O. Box 8703, Dubai, United Arab Emirates
Tel. No.:	+971 4 4546001 / 4546002
Fax No.:	+971 4 4546003
E-Mail :	chq@dmhealthcare.com

DIRECTORS

As on 20.09.2013

Name :

Mr. Mandayapurath Azad Moopen

Designation :

Director

Address :

Ameer Manzil, Kalpakanchery Po, Malapuram – 676551, Kerala, India

Date of Birth/Age :

15.04.1953

Date of Appointment :

18.01.2008

PAN No.:

AEHPM4094B

DIN No.:

00159403

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	U85110KL1995PLC008677	MALABAR INSTITUTE OF MEDICAL SCIENCES LIMITED	Director	01/03/1995	01/03/1995	-	Active	NO
2	U45201KL2005PTC017886	HABITECH BUILDERS INDIA PRIVATE LIMITED	Director	04/02/2005	04/02/2005	29/12/2008	Active	NO
3	U70102KL2005PTC018251	HARMONY INTERNATIONAL PROJECTS PRIVATE LIMITED	Director	05/06/2005	05/06/2005	-	Active	NO
4	U85110KL2008PTC021703	ASTER DM HEALTHCARE PRIVATE LIMITED	Director	18/01/2008	18/01/2008	-	Active	NO
5	U85110PN1996PLC104292	PRERANA HOSPITAL LIMITED	Director	29/09/2009	08/11/2008	27/06/2013	Active	NO
6	U85110KL2009PTC024999	DM MED CITY HOSPITALS (INDIA) PRIVATE LIMITED	Director	12/11/2009	12/11/2009	-	Active	NO
7	U85110KL2010PTC025573	DM EYE CARE (DELHI) PRIVATE LIMITED	Director	25/02/2010	25/02/2010	01/07/2013	Active	NO
8	U45201KL2008PTC021727	AMBADY INFRASTRUCTURE PRIVATE LIMITED	Director	20/09/2011	01/10/2010	-	Active	NO
9	U70100KL2011PTC029283	WAYANAD INFRASTRUCTURE PRIVATE LIMITED	Director	02/09/2011	02/09/2011	-	Active	NO
10	U25191TG2006PTC051058	KRISGO MIRACLE RUBBER PRIVATE LIMITED	Director	29/09/2012	09/06/2012	-	Active	NO
11	U85110KL2012PTC032195	INDOGULF HOSPITALS PRIVATE LIMITED	Director	19/09/2012	19/09/2012	-	Active	NO
12	U45309KL1961SGC001937	KERALA STATE INDUSTRIAL DEVELOPMENT CORPN LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO
13	U91990KL2002NPL015838	NORKA-ROOTS (SEC 25 COMPANY)	Director	26/03/2013	26/03/2013	-	Active	NO
14	U65923KL2009PLC025082	CHERAMAN FINANCIAL SERVICES LIMITED	Nominee director	04/09/2013	04/09/2013	-	Active	NO
15	AAC-1079	LEARNING CHAIN EDUCATION MANAGEMENT LIMITED LIABILITY PARTNERSHIP	Designated Partner	21/02/2014	21/02/2014	-	Active	NO

Name :

Mr. Gaurav Malik

Designation :

Director

Address :

Suite 3406, Exchange, Square 8, Connught Road, Hong Kong

Date of Birth/Age :

29.09.1971

Date of Appointment :

18.01.2012

DIN No.:

00330078

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	L29150PN1989PLC054143	SANGHVI MOVERS LIMITED	Director	24/07/2009	11/05/2006	27/09/2011	Active	NO
2	U72900DL2005PTC139980	Quatrro Global Services Private Limited	Nominee director	15/10/2009	23/10/2008	-	Active	NO
3	U65900HR2007PTC042002	Olympus Capital Holdings Asia India Advisors Private Limited	Director	17/07/2009	17/07/2009	-	Active	NO
4	U45200TG2004PTC044833	VISHWA INFRASTRUCTURES AND SERVICES PRIVATE LIMITED	Nominee director	29/09/2012	12/09/2011	-	Active	NO
5	U85110KL2008PTC021703	ASTER DM HEALTHCARE PRIVATE LIMITED	Director	18/01/2012	18/01/2012	-	Active	NO

Name :

Mr. Daniel Robert Mintz

Designation :

Director

Address :

262, Central Park W, 5E, New York

Date of Birth/Age :

06.09.1961

Date of Appointment :

18.01.2012

DIN No.:

00960928

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	U72900DL2005PTC139980	Quatrro Global Services Private Limited	Director	29/09/2007	05/01/2007	-	Active	NO
2	U85110KL2008PTC021703	ASTER DM HEALTHCARE PRIVATE LIMITED	Director	18/01/2012	18/01/2012	-	Active	NO

Name :

Mr. Sanjay Narendrakumar Arte

Designation :

Director

Address :

501 Ashoka – 1, 15^th Road, Khar West, Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

05.12.1958

Date of Appointment :

14.12.2008

DIN No.:

01000716

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	U99999MH1989PTC052116	GALA PRECISION TECHNOLOGY PRIVATE LIMITED	Director	15/07/2005	15/07/2005	01/06/2009	Active	NO
2	U74999MH1993PTC172842	RDC CONCRETE (INDIA)PRIVATE LIMITED	Director	29/09/2005	29/09/2005	28/05/2010	Active	NO
3	U92120MH2005PTC156817	CITY SOUND AND MUSIC PRIVATE LIMITED	Director	19/10/2005	19/10/2005	-	Amalgamated	NO
4	U26921KL2002PTC015427	NEPTUNE READYMIX CONCRETE PRIVATE LIMITED	Director	27/07/2006	27/07/2006	26/05/2010	Active	NO
5	L85110KA1984PLC006116	DISA INDIA LIMITED	Director	02/11/2006	02/11/2006	-	Active	NO
6	U74140MH2006PTC164125	IVF Advisors Private Limited	Director	19/06/2007	19/06/2007	05/09/2013	Active	NO
7	U28993TG1999PTC033188	ROBO SILICON Private LIMITED	Director	26/12/2007	26/12/2007	-	Active	NO
8	U27100MH2007PLC173636	Mahindra Hinoday Industries Limited	Director	25/07/2008	22/01/2008	-	Active	NO
9	U85110PN1996PLC104292	PRERANA HOSPITAL LIMITED	Director	29/09/2009	08/11/2008	-	Active	NO
10	U85110KL2008PTC021703	ASTER DM HEALTHCARE PRIVATE LIMITED	Director	14/12/2008	14/12/2008	-	Active	NO
11	U51909DL1984PTC017765	UEM INDIA Private Limited	Director	30/09/2011	15/06/2011	-	Active	NO
12	AAA-1685	INDIA VALUE FUND MANAGERS LLP	Designated Partner	28/06/2010	28/06/2010	-	Active	NO

Name :

Mr. Anver Ameen

Designation :

Director

Address :

Anappadikkal, Kalpakanchery, Malappuram – 676551, Kerala, India

Date of Birth/Age :

01.03.1971

Date of Appointment :

14.12.2008

DIN No.:

01383370

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	U15491TZ1998PTC008427	FIVE STAR TEA PRIVATE LIMITED	Director	21/05/1998	21/05/1998	10/09/2008	Strike off	NO
2	U85110KL1995PLC008677	MALABAR INSTITUTE OF MEDICAL SCIENCES LIMITED	Director	18/08/2007	18/08/2007	-	Active	NO
3	U70101KL1995PTC009606	TRIO PROPERTY DEVELOPERS PRIVATE LIMITED	Additional director	01/12/2007	01/12/2007	-	Active	NO
4	U55101KL2008PTC021839	ANAPPADIKKAL HOTELS AND RESORTS PRIVATE LIMITED	Director	11/02/2008	11/02/2008	-	Active	NO
5	U85110KL2008PTC021703	ASTER DM HEALTHCARE PRIVATE LIMITED	Director	14/12/2008	14/12/2008	-	Active	NO
6	U52100KL2011PTC028781	REFOC TRADING COMPANY PRIVATE LIMITED	Director	04/07/2011	04/07/2011	-	Active	NO
7	U74900KL2011PTC028826	CALICUT CONVENTION CENTRE PRIVATE LIMITED	Director	07/07/2011	07/07/2011	-	Active	NO
8	U52190MH2011PTC220608	ANAPPADIKKAL TRADING COMPANY PRIVATE LIMITED	Director	05/08/2011	05/08/2011	-	Active	NO

Name :

Mr. T J Wilson

Designation :

Director

Address :

Swagath Golflink Road, Chevayur, Calicut – 673017, Kerala, India

Date of Birth/Age :

14.05.1961

Date of Appointment :

20.04.2009

DIN No.:

02135108

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	U85110KL1995PLC008677	MALABAR INSTITUTE OF MEDICAL SCIENCES LTD	Director	18/08/2007	18/08/2007	-	Active	NO
2	U85110KL2008PTC021703	ASTER DM HEALTHCARE PRIVATE LIMITED	Director	20/04/2009	20/04/2009	-	Active	NO
3	U85101PN2000PTC015213	MEDIPOINT HOSPITALS PRIVATE LIMITED	Director	29/09/2012	26/03/2012	-	Active	NO
4	U85110KL2012PTC032195	INDOGULF HOSPITALS PRIVATE LIMITED	Director	19/09/2012	19/09/2012	-	Active	NO
5	U70100KL2011PTC029283	WAYANAD INFRASTRUCTURE PRIVATE LIMITED	Additional director	01/10/2012	01/10/2012	-	Active	NO
6	U85110PN1996PLC104292	PRERANA HOSPITAL LIMITED	Director	28/09/2013	27/06/2013	-	Active	NO
7	U85110KL2010PTC025573	DM EYE CARE (DELHI) PRIVATE LIMITED	Director	20/09/2013	30/06/2013	-	Active	NO

Name :

Mr. Anoop Moopen

Designation :

Director

Address :

Mandayapurath, Vadkkethil, Kalpakancherry, Po, Malappuram – 676551, Kerala, India

Date of Birth/Age :

17.12.1976

Date of Appointment :

20.04.2009

DIN No.:

02301362

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	U85110KL2008PTC021703	ASTER DM HEALTHCARE PRIVATE LIMITED	Director	20/04/2009	20/04/2009	-	Active	NO
2	U80900KL2008PTC022405	CLEARWATER EDUCATIONAL MANAGEMENT AND RESOURCES COMPANY PRIVATE LIMITED	Director	15/01/2010	15/01/2010	-	Active	NO
3	U85110KL1995PLC008677	MALABAR INSTITUTE OF MEDICAL SCIENCES LIMITED	Director	05/08/2010	05/08/2010	-	Active	NO
4	U70100KL2011PTC029283	WAYANAD INFRASTRUCTURE PRIVATE LIMITED	Additional director	01/10/2012	01/10/2012	-	Active	NO
5	U85110KL2009PTC024999	DM MED CITY HOSPITALS (INDIA) PRIVATE LIMITED	Alternate director	02/03/2013	02/03/2013	06/04/2013	Active	NO
6	U85110KL2012PTC032195	INDOGULF HOSPITALS PRIVATE LIMITED	Director	18/09/2013	17/05/2013	-	Active	NO
7	AAA-3758	MOOPENS AZTECH CONTRACTING LIMITED LIABILITY PARTNERSHIP	Designated Partner	09/02/2011	09/02/2011	-	Active	NO

Name :

Mrs. Alisha Moopen

Designation :

Director

Address :

Mayan Palace. Chalapuram, Po, Kasaba, Calicut – 673002, Kerala, India

Date of Birth/Age :

11.07.1981

Date of Appointment :

20.09.2013

DIN No.:

02432525

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	U45201KL2005PTC017886	HABITECH BUILDERS INDIA PRIVATE LIMITED	Director	04/02/2005	04/02/2005	29/12/2008	Active	NO
2	U70100KL2011PTC029283	WAYANAD INFRASTRUCTURE PRIVATE LIMITED	Additional director	01/10/2012	01/10/2012	-	Active	NO
3	U85110KL2012PTC032195	INDOGULF HOSPITALS PRIVATE LIMITED	Director	18/09/2013	17/05/2013	-	Active	NO
4	U85110KL2008PTC021703	ASTER DM HEALTHCARE PRIVATE LIMITED	Director	20/09/2013	20/09/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajesh A
Designation :	Secretary
Address :	Perunninakulath Warruim, Irimoanam, Po, Tripunithura – 682309, Kerala, India
Date of Birth/Age :	30.05.1986
Date of Appointment :	29.04.2013
PAN No.:	AJPPA8277P

MAJOR SHAREHOLDERS

As on 20.09.2013

Names of Shareholders	No. of Shares
IVF Trustee Company Private Limited	15512497
Union Investments Private Limited	71085014
Olympus Capital Asia Investments Limited	31791760
Dr. Azad Moopen, Mrs. Naseera Azad and Mr. Sanjay N Arte (Trustees of DM Healthcare Employees Welfare Trust)	1542750
T J Wilson	841841
Shamsudheen Bin Mohideen Mammu Haji	1870869
Rashid Aslam Bin Mohideen Mammu Haji	3741738
Total	126386469

Equity Share Break up (Percentage of Total Equity)

As on 20.09.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	85.84
Bodies corporate	12.27
Directors or relatives of Directors	0.67
Other	1.22
Total	100.00

BUSINESS DETAILS

Line of Business :

Rendering quality healthcare, construction of hospitals and allied services.

Products :

Product Description	ITC Code
General Medical Services	99931210

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

State Bank of Travancore, Commercial Branch, Mallankara Centre, M G Road, Ernakulam, Kochi - 682035, Kerala, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	160.360	1.183
Short Term Borrowings
Rupee term loans from banks	60.000	0.000
Total	220.360	1.183

Banking Relations :	--
Auditors :
Name :	BSR and Associates Chartered Accountants
Address :	8-2-618/2 Address, Reliance Humsafar, 4^th Floor, Road No-11, Banjara Hills, Hyderabad – 500034, Telangana, India
PAN No.:	AAIFB7355D
Holding and ultimate holding Company :	· Union Investments Private Limited, Mauritius
Subsidiaries and step down subsidiaries :	· Medipoint Hospitals Private Limited CIN No.: U85101PN2000PTC015213 · Indogulf Hospitals Private Limited CIN No.: U85110KL2012PTC032195 · Prerana Hospital Limited CIN No.: U85110PN1996PLC104292 · DM Eye Care (Delhi) Private Limited, India CIN No.: U85110KL2010PTC025573 · DM Med City Hospitals (India) Private Limited, India CIN No.: U85110KL2009PTC024999 · Ambady Infrastructure Private Limited, India CIN No.: U45201KL2008PTC021727 · Prerana Hospital Limited, India · Affinity Holdings Private Limited, Mauritius · Medipoint Hospitals Private Limited , India · Indogulf Hospitals Private Limited, India (since 30 March 2013) · Malabar Institute of Medical Sciences Limited, India (since 30 March 2013) · Dr. Moopen’s Healthcare Management Services LLC, U.A.E · DM Group FZ LLC, U.A.E · Dr. Moopen’s Holdings FZC, U.A.E
Entities having significant influence over the Company :	· IVF Trustee Company Private Limited, India CIN No.: U74140KA2006PTC040274 · Olympus Capital Asia Investment Limited, Mauritius
Entities under common control/ Entities over which the Company has significant influence :	· DM Foundations, India · DM Education and Research Foundation, India · EMED Human Resources (India) Private Limited, India · Wayanad Infrastructure Private Limited, India CIN No.: U70100KL2011PTC029283

CAPITAL STRUCTURE

After 20.09.2013

Authorised Capital : Rs.3802.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.3791.594 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
129800000	Equity Shares	Rs.10/- each	Rs.1298.000 Millions
200000	Preference Shares	Rs.10/- each	Rs.2.000 Millions
	Total		Rs.1300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
126386469	Equity Shares	Rs.10/- each	Rs.1263.865 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	1,248.437	1.247	1.062
(b) Reserves & Surplus	3,425.485	4,647.729	829.864
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	69.078
Total Shareholders’ Funds (1) + (2)	4,673.922	4,648.976	900.004
(3) Non-Current Liabilities
(a) long-term borrowings	160.360	1.183	2.848
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.795	0.672	0.545
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	161.155	1.855	3.393
(4) Current Liabilities
(a) Short term borrowings	60.000	0.000	150.000
(b) Trade payables	0.000	8.173	7.278
(c) Other current liabilities	91.089	332.008	1,289.167
(d) Short-term provisions	0.237	0.000	0.000
Total Current Liabilities (4)	151.326	340.181	1,446.445
TOTAL	4,986.403	4,991.012	2,349.842
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	356.565	352.501	320.862
(ii) Intangible Assets	0.029	0.189	0.252
(iii) Capital work-in-progress	1,226.735	593.744	76.524
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2,266.618	1,806.087	1,472.374
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	726.176	899.144	421.038
(e) Other Non-current assets	0.050	0.050	0.000
Total Non-Current Assets	4,576.173	3,651.715	2,291.050
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	9.086	11.013	8.992
(d) Cash and cash equivalents	282.925	1,243.504	35.777
(e) Short-term loans and advances	117.190	78.957	14.017
(f) Other current assets	1.029	5.823	0.006
Total Current Assets	410.230	1,339.297	58.792
TOTAL	4,986.403	4,991.012	2,349.842

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		9.091	2.897	10.689
		Other Income		90.572	31.927	7.257
		TOTAL		99.663	34.824	17.946
Less	EXPENSES			76.920	102.378	55.398
	PROFIT/(LOSS) BEFORE TAX			22.743	(67.554)	(37.452)
Less	TAX			0.000	0.000	0.000
	PROFIT/(LOSS) AFTER TAX			22.743	(67.554)	(37.452)
	IMPORTS
			Capital Goods	50.339	0.000	0.000
	TOTAL IMPORTS			50.339	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)			0.25	(776.15)	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	22.82	(193.99)	(208.69)
Net Profit Margin (PBT/Sales)	(%)	250.17	(2331.86)	(350.38)
Return on Total Assets (PBT/Total Assets}	(%)	1.52	(2.61)	(4.68)
Return on Investment (ROI) (PBT/Networth)		0.00	(0.01)	(0.04)
Debt Equity Ratio (Total Debt /Networth)		0.05	0.00	0.17
Current Ratio (Current Asset/Current Liability)		2.71	3.94	0.04

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	1.062	1.247	1248.437
Reserves & Surplus	829.864	4647.729	3425.485
Share Application money pending allotment	69.078	0.000	0.000
Net worth	900.004	4648.976	4673.922
long-term borrowings	2.848	1.183	160.360
Short term borrowings	150.000	0.000	60.000
Total borrowings	152.848	1.183	220.360
Debt/Equity ratio	0.170	0.000	0.047

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	10.689	2.897	9.091
		(72.897)	213.807

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	10.689	2.897	9.091
Profit	(37.452)	(67.554)	22.743
	(350.38%)	(2331.86%)	250.17%

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	No
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	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

COMPANY OVERVIEW

The Company was incorporated on 18 January 2008, as a private limited company under the Companies Act, 1956. The Company is a service company, primarily carrying on the business of rendering quality healthcare, construction of hospitals and allied services. The Company is a subsidiary of Union Investments Private Limited, Mauritius.

RESULTS OF OPERATIONS

During the financial year, the gross revenue stood at Rs.99.663 Millions, registering a year over year growth of 186 %. Growth in revenue was mainly on account of increase in the dividend income received from subsidiary companies.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10417199	11/09/2013 *	3,300,000,000.00	STATE BANK OF TRAVANCORE	Commercial Branch, Mallankara Centre, M G Road, Ernakulam, Kochi, Kerala - 682035, India	B88339023

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.59.06
UK Pound	1	Rs.99.35
Euro	1	Rs.80.62

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	RAS
Report Prepared by :	VNT

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	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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.