MIRA INFORM REPORT

Report Date :

24.06.2014

IDENTIFICATION DETAILS

Name :	SRI KRISHNA PHARMACEUTICALS LIMITED
Formerly Known As :	SRI KRISHNA DRUGS LIMITED [w.e.f. 29.11.1994] SREE KRISHNA DRUGS LIMITED [w.e.f. 02.11.1994] SREE KRISHNA DRUGS PRIVATE LIMITED
Registered Office :	C-4, Industrial Area, Uppal, Hyderabad – 500039, Andhra Pradesh.
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.09.1974
Com. Reg. No.:	01-001790
Capital Investment / Paid-up Capital :	Rs. 119.184 Millions
CIN No.: [Company Identification No.]	U24230AP1974PLC001790
TAN No.: [Tax Deduction & Collection Account No.]	HYDS01333D
PAN No.: [Permanent Account No.]	AADCS4053P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Bulk Drugs.
No. of Employees :	Information denied by the 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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track record. Financial position of the company is decent. Rating also takes into consideration increase in revenue and operating profitability and established market position with extensive industry experience of promoters in the bulk drug manufacturing industry. Trade relations are reported to be fair. Business is active. Payments 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 – 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

NEWS

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.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BBB+ [Long Term]
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	24.10.2013

Rating Agency Name	CRISIL
Rating	A2 [Short Term]
Rating Explanation	Strong degree of safety and low credit risk.
Date	24.10.2013

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION DECLINED

Management non co-operative [91-40-27201101]

LOCATIONS

Registered / Corporate Office :	C-4, Industrial Area, Uppal, Hyderabad – 500039, Andhra Pradesh, India
Tel. No.:	91-40-27201101-02/ 27200103/ 27204471-72
Fax No.:	91-40-27204470/027203645
E-Mail :	nsk@srikrishnapharma.com vvs@srikrishnapharma.com rk@srikrishnapharma.com skg@srikrishnapharma.com
Website :	http://www.srikrishnapharma.com
Factory :	Plot No. A-35, IDA Nacharam, Hyderabad-500076, Andhra Pradesh, India
Tel No.:	91-40-27204470

DIRECTORS

AS ON 30.10.2013

Name :

Mr. Vempalli Venkata Krishna Reddy

Designation :

Managing Director

Address :

3-33-39, Dhanalakshmi Colony, Mahendra Hills, East Maredpally, Secunderabad - 500026, Andhra Pradesh, India.

Date of Birth/Age :

31.08.1966

Date of Appointment :

28.09.2010

DIN No.:

00024216

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	U67120AP1995PTC021208	KELLTON COMMODITY AND DERIVATIVES PRIVATE LIMITED	Director	26/07/1995	26/07/1995	22/01/2010	Active	NO
2	U67120AP1995PTC021206	SRIPAD EQUITIES PRIVATE LIMITED	Director	26/07/1995	26/07/1995	-	Active	NO
3	U24120AP1995PTC021782	SRI KRISHNA BIOFERT PRIVATE LIMITED	Director	21/09/1995	21/09/1995	-	Active	NO
4	U65910AP1990PTC011408	KELLTON SECURITIES PRIVATE LIMITED	Director	11/10/1997	11/10/1997	16/09/2009	Active	NO
5	U24230AP1974PLC001790	SRI KRISHNA PHARMACEUTICALS LIMITED	Managing director	28/09/2010	15/10/1997	-	Active	NO
6	L24110AP1985PLC005315	SRI KRISHNA DRUGS LIMITED	Director	04/06/1998	04/06/1998	-	Amalgamated	NO
7	U72200AP2000PLC034518	ENSOLVIA INFOTECH LIMITED	Director	29/05/2000	29/05/2000	-	Active	NO

Name :

Mr. Vempalli Subba Reddy

Designation :

Whole-time Director

Address :

Plot No. 110, Road No. 4, Dhanalakshmi Colony, Mahendra Hills, East Maredpally, Secunderabad-500026, Andhra Pradesh, India.

Date of Birth/Age :

26.09.1942

Date of Appointment :

28.09.2010

DIN No.:

00626671

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	U24230AP1974PLC001790	SRI KRISHNA PHARMACEUTICALS LIMITED	Whole-time director	28/09/2010	26/09/1974	-	Active	NO
2	L24110AP1985PLC005315	SRI KRISHNA DRUGS LIMITED	Managing director	01/08/2008	18/02/1985	-	Amalgamated	NO
3	U65910AP1990PTC011408	KELLTON SECURITIES PRIVATE LIMITED	Director	21/06/1990	21/06/1990	16/09/2009	Active	NO
4	U24110AP1993PTC016704	SRI KRISHNA AGRI - FOODS PRIVATE LIMITED	Director	08/12/1993	08/12/1993	-	Active	NO
5	U67120AP1995PTC021208	KELLTON COMMODITY AND DERIVATIVES PRIVATE LIMITED	Director	26/07/1995	26/07/1995	22/01/2010	Active	NO
6	U67120AP1995PTC021206	SRIPAD EQUITIES PRIVATE LIMITED	Director	26/07/1995	26/07/1995	-	Active	NO
7	U24120AP1995PTC021782	SRI KRISHNA BIOFERT PRIVATE LIMITED	Director	21/09/1995	21/09/1995	-	Active	NO
8	L24110AP1980PLC002633	PREMIER EXPLOSIVES LIMITED	Director	27/05/1999	27/05/1999	30/09/2009	Active	NO
9	U72200AP2000PLC034518	ENSOLVIA INFOTECH LIMITED	Director	29/05/2000	29/05/2000	-	Active	NO
10	U72300TN2003PTC051618	PROPART SOLUTIONS INDIA PRIVATE LIMITED	Director	20/10/2003	20/10/2003	30/12/2005	Active	NO
11	U85100TZ2011PTC017124	ISHA AROGYA PRIVATE LIMITED	Director	02/06/2011	02/06/2011	-	Active	NO

Name :

Mr. Vempalli Satyavathi

Designation :

Director

Address :

Plot No. 110, Road No. 4, Dhanalakshmi Colony, Mahendra Hills, East Maredpally, Secunderabad-500026, Andhra Pradesh, India.

Date of Birth/Age :

18.03.1945

Date of Appointment :

13.12.1983

DIN No.:

00626709

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	U24230AP1974PLC001790	SRI KRISHNA PHARMACEUTICALS LIMITED	Director	13/12/1983	13/12/1983	-	Active	NO
2	L24110AP1985PLC005315	SRI KRISHNA DRUGS LIMITED	Director	18/02/1985	18/02/1985	-	Amalgamated	NO
3	U65910AP1990PTC011408	KELLTON SECURITIES PRIVATE LIMITED	Director	21/06/1990	21/06/1990	16/09/2009	Active	NO
4	U24110AP1993PTC016704	SRI KRISHNA AGRI - FOODS PRIVATE LIMITED	Director	08/12/1993	08/12/1993	-	Active	NO
5	U24120AP1995PTC021782	SRI KRISHNA BIOFERT PRIVATE LIMITED	Director	21/09/1995	21/09/1995	-	Active	NO
6	U72200AP2000PLC034518	ENSOLVIA INFOTECH LIMITED	Director	17/09/2008	31/07/2008	-	Active	NO

Name :

Dr. Chivukula Gopala Krishna Murty

Designation :

Director

Address :

7-B, Sanjeeva Reddy Nagar, Hyderabad-500038, Andhra Pradesh, India.

Date of Birth/Age :

16.01.1931

Date of Appointment :

06.05.1989

DIN No.:

00312700

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	L24110AP1985PLC005315	SRI KRISHNA DRUGS LIMITED	Director	18/02/1985	18/02/1985	-	Amalgamated	NO
2	U24230AP1974PLC001790	SRI KRISHNA PHARMACEUTICALS LIMITED	Director	06/05/1989	06/05/1989	-	Active	NO
3	U65910AP1990PTC011408	KELLTON SECURITIES PRIVATE LIMITED	Director	21/06/1990	21/06/1990	16/09/2009	Active	NO
4	U24110AP1993PTC016704	SRI KRISHNA AGRI - FOODS PRIVATE LIMITED	Director	08/12/1993	08/12/1993	-	Active	NO
5	U24231TN1994PLC027491	NATCO ORGANICS LIMITED	Director	28/09/1996	28/09/1996	30/06/2012	Active	NO
6	U24239AP1978PLC002276	GLAND PHARMA LTD	Director	30/08/2004	30/08/2004	-	Active	NO

Name :

Mr. Rama Krishnan

Designation :

Whole-time Director

Address :

House No.8.3.898/26/F-101, “Encee Residency Nagarjina Nagar Colony, Yellareddyguda, Ameerpet, Hyderabad-500073, Andhra Pradesh, India

Date of Birth/Age :

05.05.1954

Date of Appointment :

26.05.2012

DIN No.:

00819071

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.10.2013

NOTE: SHAREHOLDING DETAILS FILE ATTACHED.

AS ON 30.10.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	98.78
Other top fifty shareholders	0.98
Others	0.24
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Bulk Drugs.

GENERAL INFORMATION

No. of Employees :

Information denied by the management.

Bankers :

Canara Bank, Overseas Branch, Adarsh Nagar Road, Hyderabad-500063, Andhra Pradesh, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Rupee term loans from banks	199.870	184.057
Short Term Borrowings
Rupee term loans from banks	423.806	353.255
Other loans and advances	100.971	32.092
TOTAL	724.647	569.404

Banking Relations :	--
Auditors :
Name :	Tukaram and Company Chartered Accountants
Address :	# 3-6-69, Flat No. 209, Venkatarama Towers, Basheerbagh, Hyderabad-500029, Andhra Pradesh, India.
Tel. No.:	91-40-23221536/ 23228785/ 23228086
Fax No.:	91-40-23221474
PAN No:	AAAFT9960E
Associate :	Sri Krishna Biofert Private Limited [U24120AP1995PTC021782]

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11918455	Equity Shares	Rs.10/- each	Rs.119.185 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	119.185	119.185	110.835
(b) Reserves & Surplus	831.552	652.304	559.098
(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)	950.737	771.489	669.933
(3) Non-Current Liabilities
(a) long-term borrowings	342.489	304.377	190.130
(b) Deferred tax liabilities (Net)	68.522	69.920	41.654
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	8.303	4.447	2.481
Total Non-current Liabilities (3)	419.314	378.744	234.265
(4) Current Liabilities
(a) Short term borrowings	534.485	401.765	340.300
(b) Trade payables	682.976	780.072	611.166
(c) Other current liabilities	85.782	54.835	21.589
(d) Short-term provisions	199.127	63.637	82.123
Total Current Liabilities (4)	1502.370	1300.309	1055.178
TOTAL	2872.421	2450.542	1959.376
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	840.363	757.821	525.960
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	24.904	1.796	27.213
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.882	0.382	0.382
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	15.691	29.972	15.283
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	881.840	789.971	568.838
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	590.530	479.088	463.129
(c) Trade receivables	1013.331	845.491	708.637
(d) Cash and cash equivalents	79.366	127.581	55.461
(e) Short-term loans and advances	307.095	207.695	162.922
(f) Other current assets	0.259	0.716	0.389
Total Current Assets	1990.581	1660.571	1390.538
TOTAL	2872.421	2450.542	1959.376

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	3418.954	2776.221	2438.625
	Other Income	161.443	64.663	26.039
	TOTAL (A)	3580.397	2840.884	2464.664
Less	EXPENSES
	Cost of Materials Consumed	2319.525	1782.171	1552.942
	Purchases of Stock-in-Trade	21.508	15.663	16.944
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(172.064)	18.846	(16.892)
	Employees benefits expense	243.683	244.175	204.433
	Other expenses	631.939	516.676	440.998
	Extraordinary items	0.521	(16.690)	(0.711)
	TOTAL (B)	3045.112	2560.841	2197.714
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	535.285	280.043	266.950
Less	FINANCIAL EXPENSES (D)	189.855	105.524	70.888
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	345.430	174.519	196.062
Less/ Add	DEPRECIATION/ AMORTISATION (F)	75.358	59.692	59.069
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	270.072	114.827	136.993
Less	TAX (I)	78.905	51.453	50.797
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	191.167	63.374	86.196
	Earnings / (Loss) Per Share (Rs.)	16.04	5.32	7.78

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	5.34	2.23	3.50
Net Profit Margin (PBT/Sales)	(%)	7.90	4.14	5.62
Return on Total Assets (PBT/Total Assets}	(%)	9.49	4.69	7.09
Return on Investment (ROI) (PBT/Networth)		0.28	0.15	0.20
Debt Equity Ratio (Total Debt/Networth)		0.92	0.92	0.79
Current Ratio (Current Asset/Current Liability)		1.32	1.28	1.32

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	110.835	119.185	119.185
Reserves & Surplus	559.098	652.304	831.552
Net worth	669.933	771.489	950.737
long-term borrowings	190.130	304.377	342.489
Short term borrowings	340.300	401.765	534.485
Total borrowings	530.430	706.142	876.974
Debt/Equity ratio	0.792	0.915	0.922

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	2438.625	2776.221	3418.954
		13.844	23.151

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	2438.625	2776.221	3418.954
Profit	86.196	63.374	191.167
	3.53%	2.28%	5.59%

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	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	Yes
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90124556	18/11/2004 *	177,500,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, 5-9-300 ABIDS, HYDERABAD, ANDHRA  PRADESH, INDIA	-
2	90124330	27/12/2013 *	1,578,700,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH,MID CORPORATE GROUP,2ND&3RD FLOOR,  RAJALA CENTRE,PT NO 241/A,RD NO 36,JUBILEE HILLS, HYDERABAD - 500033, ANDHRA PRADESH, INDIA	B94508165
3	90120010	25/04/1980	548,700.00	ANDHARA PRADESH STATE FINANCIAL CORPN.	CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA	-
4	90119980	21/04/1975	625,000.00	A P STATE FINANCIAL CO	CHIRAG ALI LANE, ABIDS, HYDERABAD, ANDHRA PRADESH, INDIA	-

* Date of charge modification

CASE DETAILS

ITTA 135/2012 ITTASR 2022/2011 CASE IS: PENDING

PETITIONER	RESPONDENT
COMMISSIONER OF INCOME TAX III	VS SRI KRISHNA PHARMACEUTICALS LIMITED
PET. ADV.: NARASIMHA SARMA	RESP. ADV.: GUNARANJAN
SUBJECT: U/SEC. 143 ASSESSMENT	DISTRICT: HYDERABAD
FILING DATE: 06.06.2011	POSTING STAGE: FOR ADMISSION
REG. DATE: 11.04.2012	LISTING DATE: 12.04.2012
STATUS: ADMIT
HON’BLE JUDGE(S): V. ESWARAIAH K. G. SHANKAR

Unsecured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Loans and advances from directors	142.619	120.320
Short Term Borrowings
Deposits from others	3.725	3.719
Other loans and advances	5.983	12.699
TOTAL	152.327	136.738

REVIEW OF PERFORMANCE:

During the financial year under consideration 7884.01 MT’s of Paracetamol, 3460.64 MT’s of D C Granules and 63.77 MT’s of Domperidone were produced as against previous year’s production of 7146.70 MT’s Paracetamol, 2813.66 MT’s of D.C. Granules and 55.77 MT’s of Domperidone respectively. The company recorded a turnover of 3418.954 Millions as against the previous year’s turnover of Rs.2776.221 Millions.

During the year the Company’s sales quantity of Paracetamol 7488.95 MT’s, D C Granules 3363.86 MT’s and Domperidone 58.85 MT’s as against the previous year Paracetamol sale quantity of 7310.74 MT’s, D C Granules 2833.43 MT’s and Domperidone 55.59 MT’s.

FIXED ASSETS:

• Land
• Lease Land
• Factory Buildings
• Administrative Buildings
• Plant and Machinery
• Electrical Equipments
• Workshop Equipments
• Water Systems
• Storage Systems
• Computers
• Furniture and Fixtures
• Laboratory Equipments
• Office Equipments
• Air Conditioner
• Vehicles

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.60.19
UK Pound	1	Rs.102.56
Euro	1	Rs.81.91

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUM
Report Prepared by :	TPT

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	6
--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	YES
--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		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.