MIRA INFORM REPORT

Report Date :

30.10.2014

IDENTIFICATION DETAILS

Name :	ANUH PHARMA LIMITED
Registered Office :	A-3, Shivsagar Estate, North Wing, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.02.1960
Com. Reg. No.:	11-011586
Capital Investment / Paid-up Capital :	Rs. 41.760 Millions
CIN No.: [Company Identification No.]	L24230MH1960PLC011586
TAN No.: [Tax Deduction & Collection Account No.]	MUMA22404E / MUMA20261D
PAN No.: [Permanent Account No.]	AAACA4478P
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer of Bulk Drugs and Chemicals.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 2400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established and reputed company having fine track record. Financial position of the company seems to be sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitments. The company can be considered normal for normal business dealings at usual trade terms and condition.

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had illfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term Cash Credit = BBB+
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	June 2014

Rating Agency Name	ICRA
Rating	Short term Non-fund based = A2+
Rating Explanation	Have strong degree of safety and carry low credit risk.
Date	June 2014

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 DECLINED

MANAGEMENT NON CO-OPERATIVE (91-22-66227575)

LOCATIONS

Registered/ Corporate Office :	A-3, Shivsagar Estate, North Wing, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
Tel. No.:	91-22-66227575/ 55527575
Fax No.:	91-22-55527600/ 66227500
E-Mail :	anuh@skageexport.com anuh@sk1932.com info@sk1932.com
Website :	http://www.anuhpharma.com
Factory 1 :	Anuh Pharma E-17/3 and 17/4, M.I.D.C. Tarapur, Boisar, District Thane - 401506, Maharashtra, India
Tel. No.:	91-2525-272174/ 270281
Fax No.:	91-2525-270281
E-Mail :	ritesh@sk1932.com
Factory 2 :	Eskay Fine Chemicals Turbhe Thane Belapur Road, Navi Mumbai – 400705, Maharashtra, India
Telefax :	91-22-27681505/ 27681708
E-Mail :	anita@sk1932.com
R & D Division :	A-514, TTC Industrial Area, MIDC, Mahape, Navi Mumbai – 400701, Maharashtra, India

DIRECTORS

As on 02.08.2013

Name :	Mr. Jayantilal Popatlal Shah
Designation :	Director
Address :	Flat No. 3B, 31D Floor, New Suvas A, 68-F, Nepeansea Road, Malabar Hill, Mumbai - 400 006, Maharashtra, India
Date of Birth/Age :	07.05.1929
Date of Appointment :	29.10.1980
DIN No.:	00083146
Name :	Mr. Lalitkumar Popatlal Shah
Designation :	Director
Address :	B-212, Amalfi, 27B, L.D. Ruparel Marg, Malabar Hill, Mumbai - 400 006 Maharashtra, India
Date of Birth/Age :	02.10.1936
Date of Appointment :	29.10.1980
DIN No.:	00396345
Name :	Mr. Bharat Nemchand Shah
Designation :	Director
Address :	4'h Floor, Room No. 15, Bhartiya Bhavan, Netaji Subhash Road, Marine Drive, Mumbai - 400 020 Maharashtra, India
Date of Birth/Age :	06.09.1946
Date of Appointment :	29.10.1980
DIN No.:	00083354
PAN No.:	ADUPS8329M
Name :	Mr. Bipin Nemchand Shah
Designation :	Managing Director
Address :	180 1 Devdarshan, 50 Ridge Road, Teen Batti, Mumbai - 400 006 Maharashtra, India
Date of Birth/Age :	07.03.1949
Date of Appointment :	04.09.1987
DIN No.:	00083244
PAN No.:	AACPS5406N
Name :	Mr. Jasvantlal Girdharilal Shah
Designation :	Director
Address :	5711439, Adarsh Nagar, Prabhadevi, Dadar, Mumbai 400025 Maharashtra, India
Date of Birth/Age :	24.11.1933
Date of Appointment :	09.08.1995
DIN No.:	00372600
Name :	Mr. Dilip Shah
Designation :	Director
Address :	2/21 Beach Queen, 35b Azad Road, Juhu, Mumbai- 400049 Maharashtra, India
Date of Birth/Age :	25.04.1941
Date of Appointment :	30.10.2007
DIN No.:	01989812
Name :	Mr. Arun Todarwal
Designation :	Director
Address :	81, Shiner, 84, Nepean Sea Road, Mumbai, 400006, Maharashtra, India
Date of Birth/Age :	16.06.1957
Date of Appointment :	24.10.2008
DIN No.:	00020916
Name :	Mr. Sandeep Madhusudan Joshi
Designation :	Director
Address :	202 kasturi towers 238A, Lbs Marg opp Red Cross Bhavan Thane, Thane-400602, Maharashtra, India
Date of Birth/Age :	01.01.1961
Date of Appointment :	09.11.2012
DIN No.:	00516409
Name :	Mr. Gulabchand Sharda
Designation :	Director
Address :	604 Swaroop Co Op. Hsg. SOC. Ltd., Near Bhakti Mandir, Panchpakhadi, Thane (West), Thane-400602, Maharashtra, India
Date of Birth/Age :	20.04.1944
Date of Appointment :	24.05.2013
DIN No.:	06583340
PAN No.:	AAMPS9620C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Category of Shareholder	Total No. of Shares	As a %
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	5252854	62.89
Any Others (Specify)	174804	2.09
Group Companies	174804	2.09
Sub Total	5427658	64.99
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	5427658	64.99
(B) Public Shareholding
(1) Institutions
(2) Non-Institutions
Bodies Corporate	225685	2.70
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	1920819	23.00
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	743741	8.90
Any Others (Specify)	34097	0.41
Non Resident Indians	24882	0.30
Clearing Members	8447	0.10
Directors & their Relatives & Friends	768	0.01
Sub Total	2924342	35.01
Total Public shareholding (B)	2924342	35.01
Total (A)+(B)	8352000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	8352000	0.00

As on 02.08.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	4.05
Directors or relatives of Directors	62.92
Other top fifty shareholders	14.77
Others	17.98
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Bulk Drugs and Chemicals.

Products :

ITC Code No.	Product Descriptions
2941.50	Erythromycin Salts
2941.40	Chloramphenicol

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

Bank of India, Mumbai MID Corporate, 70/80, M.G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai - 400001, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWINGS
From Bank Overdraft from Bank of India (Secured by lien on fixed deposit with bank)	0.000	5.237
Total	0.000	5.237

Banking Relations :	---
Auditors :
Name :	S.I. Mogul and Company Chartered Accountants
Address :	73-B, Mittal Court, Nariman Point, Mumbai – 400021, Maharashtra, India
PAN No.:	AAMFS7435P
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	S Kant Healthcare Limited S.K. Age Exports S Kant Chemicals Private Limited S Kant Pharma Private Limited Eskay Iodine Private Limited Eskay Speciality Chemicals Sevantilal Kantilal & Company

CAPITAL STRUCTURE

As on 02.08.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000,000	Equity Shares	Rs. 5/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8,352,000	Equity Shares	Rs. 5/- each	Rs. 41.760 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	41.760	41.760	41.760
(b) Reserves & Surplus	817.053	714.475	650.298
(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)	858.813	756.235	692.058
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	2.445	2.580	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.559	2.135	1.153
Total Non-current Liabilities (3)	5.004	4.715	1.153
(4) Current Liabilities
(a) Short term borrowings	0.000	5.237	13.024
(b) Trade payables	600.184	469.542	294.352
(c) Other current liabilities	17.660	13.143	26.874
(d) Short-term provisions	150.928	112.408	162.880
Total Current Liabilities (4)	768.772	600.330	497.130
TOTAL	1632.589	1361.280	1190.341
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	120.550	104.025	74.894
(ii) Intangible Assets	0.985	0.773	0.304
(iii) Capital work-in-progress	1.780	25.980	34.280
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	80.286	55.790	250.618
(c) Deferred tax assets (net)	0.000	0.000	1.170
(d) Long-term Loan and Advances	13.285	9.270	6.686
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	216.886	195.838	367.952
(2) Current assets
(a) Current investments	188.000	138.022	75.125
(b) Inventories	193.245	236.843	125.921
(c) Trade receivables	747.472	544.361	390.885
(d) Cash and cash equivalents	154.713	133.767	66.430
(e) Short-term loans and advances	129.918	110.033	163.236
(f) Other current assets	2.356	2.416	0.792
Total Current Assets	1415.704	1165.442	822.389
TOTAL	1632.590	1361.280	1190.341

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	2663.977	2426.707	2256.786
		Other Income	41.487	22.275	30.099
		TOTAL (A)	2705.464	2448.982	2286.885
Less	EXPENSES
		Cost of Materials Consumed	2099.306	1968.956	1821.004
		Purchases of Stock-in-Trade	8.289	59.410	101.125
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	35.147	(27.523)	(35.098)
		Employees benefits expense	46.658	46.790	32.009
		Other expenses	242.799	207.412	169.144
		TOTAL (B)	2432.199	2255.045	2088.184
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		273.265	193.937	198.701
Less	FINANCIAL EXPENSES (D)		1.039	0.453	4.986
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		272.226	193.484	193.715
Less/ Add	DEPRECIATION/ AMORTISATION (F)		17.461	16.636	13.215
	PROFIT BEFORE TAX (E-F) (G)		254.765	176.848	180.500
Less	TAX (H)		78.865	51.498	52.039
	PROFIT AFTER TAX (G-H) (I)		175.900	125.350	128.461
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		155.896	141.720	113.021
Add	Income Tax adjustment of earlier years		2.407	(2.545)	3.626
Less	APPROPRIATIONS
		Transfer to General Reserve	50.000	50.000	50.000
		Proposed final Dividend	54.288	50.112	45.936
		Tax on proposed final Dividend	11.000	8.517	7.452
		Interim Dividend	10.440	0.000	0.000
	BALANCE CARRIED TO THE B/S		208.475	155.896	141.720
	Earnings Per Share (Rs.)		21.06	15.01	15.38

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	6.50	5.12	5.62
Net Profit Margin (PBT/Sales)	(%)	9.56	7.29	8.00
Return on Total Assets (PBT/Total Assets}	(%)	16.43	13.82	19.96
Return on Investment (ROI) (PBT/Networth)		0.30	0.23	0.26
Debt Equity Ratio (Total Debt /Networth)		0.00	0.01	0.02
Current Ratio (Current Asset/Current Liability)		1.84	1.94	1.65

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	41.760	41.760	41.760
Reserves & Surplus	650.298	714.475	817.053
Net worth	692.058	756.235	858.813
long-term borrowings	0.000	0.000	0.000
Short term borrowings	13.024	5.237	0.000
Total borrowings	13.024	5.237	0.000
Debt/Equity ratio	0.019	0.007	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2256.786	2426.707	2663.977
		7.529	9.777

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2256.786	2426.707	2663.977
Profit	128.461	125.350	175.900
	5.69%	5.17%	6.60%

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	Yes
5]	Type of Business	No
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

OPERATIONS

The sales and operating income for the year ended 31^st March 2014 amounted to Rs. 2649.279 Millions as against Rs. 2416.049 Millions for the previous year. Thus the turnover of the company has increased by about 9.65% as compared to last year’s turnover.

During the year 2013-14 profit before tax as compared to last year has increased by 41.14% from Rs. 180.500 Millions to Rs. 254.765 Millions and profit after tax has increased by 40.33% from Rs. 125.350 Millions to Rs. 175.899 Millions.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10038218	22/03/2012 *	650,000,000.00	BANK OF INDIA	MUMBAI MID CORPORATE, 70/80, M.G. ROAD, BANK OF INDIA BUILDING, MEZZANINE FLOOR, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	B38298881
2	90186656	20/03/1999	2,500,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
3	90186448	23/04/1997	2,000,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
4	90184014	14/06/2010 *	450,000,000.00	BANK OF INDIA	WORLI NAKA BR., PANKAJ MANSION, OPP. PODAR HOSPITAL, DR. A. B. ROAD, WORLI NAKA,, MUMBAI, MAHARASHTRA - 400018, INDIA	A91194704
5	90185621	23/04/1997 *	1,200,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
6	90187519	23/04/1997 *	4,000,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
7	90185390	29/07/1992 *	3,300,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
8	90187464	06/10/1995 *	3,300,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
9	90183919	08/02/1991 *	4,500,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
10	90187389	08/01/1987	300,000.00	CANARA BANK	QUEEN'S ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-

* Date of charge modification

FIXED ASSETS

Tangible Assets

· Leasehold Land

· Buildings

· Plant and Machinery

· Laboratory Equipments

· Material Storage and Handling Equipments

· Electric Installations

· Airconditioning Equipments and Refrigarators

· Computer Hardware

· Furniture and Fixtures

· Vehicles

· Office equipment

Intangible Assets

· Computer software

UNAUDITED FINANCIAL RESULT FOR THE QUARTER & YEAR ENDED ON 30TH JUN 2014

Rs. In Millions

Sr. No.	Particulars		Quarter Ended
			Jun-14
1	Net Sales / Income From Operation		753.370
2	Expenditure
	a	(Increase)/Decrease in Stock	(40.708)
	B	Cost of Materials Consumed	629.181
	c	Purchase of Stock -in-Trade	-
	d	Employees Benefit Expense	4.157
	e	Processing Charges	7.863
	f	Power Fuel & Other Utility	8.445
	g	Depreciation	4.500
	h	Other Expenses	38.388
		Total : -	671.825
3	Profit From Operation before Finance Cost & Exceptional Item (1-2)		81.544
4	A	Other Income	14.094
	b	Exchange Gain/(Loss)	(1.947)
5	Profit before Interest & Exceptional Items(3+4)		93.691
6	Finance Cost		0.068
7	Profit after Interest but before Exceptional Item(5-6)		93.623
8	Exceptional Item		-
9	Profit(+) / Loss(-) before Tax (7+8)		93.623
10	Tax Expenses		28.000
11	Net Profit(+) / Loss(-) from Ordinary Activities after Tax (9-10)		65.623
12	Extraordinary Item (Net of Tax Expenses)		-
13	Net Profit(+) / Loss(-) for the period (11-12)		65.623
14	Paid up Equity Share Capital		41.760
15	Reserves excluding Revolution Reserves as per Balance sheet of Previous Accounting Year
16	Earning per Share(EPS) Face Value of Rs.5/-
	a	Basic & Diluted EPS before Extraordinary items for the period, for the year to date and for the previous year (not to be annualised)	7.86
	b	Basic & Diluted EPS after Extraordinary items for the period, for the year to date and for the previous year (not to be annualised)	7.86
A	PARTICULARS OF SHAREHOLDING
1	Public Shareholding
		Number of Shares	2,918,162
		Percentage of Shareholding	34.94
2	Promoters & Promoter group Shareholding
	a	Pledged/Encumbered
		-Number of Shares	Nil
		-Percentage of Shares(as a % of the total shareholding of promoters and promoter group)
		-Percentage of shares( as a % of the total share capital of the company)
	b	Non Encumbered
		-Number of Shares	5,433,838
		-Percentage of Shares(as a % of the total shareholding of promoters and promoter group)	100.00
		-Percentage of shares( as a % of the total share capital of the company)	65.06
B	INVESTOR COMPLAINTS
	Pending at the begining of the quarter		0
	Received during the quarter		1
	Disposed of during the quarter		1
	Remaining unresolved at the end of the quarter		0

Note:

1. The above results were taken an record by the Board of Directors of the Company at their meeting held on 13th August -2014
2. The Company's operation fall under single segment namely "Bulk Drugs & Chemicals".

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 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.61.32
UK Pound	1	Rs.99.00
Euro	1	Rs.78.14

INFORMATION DETAILS

Information Gathered by :	HET
Analysis Done by :	RAS
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.