1. Summary Information

		Country	India
Company Name	THEON PHARMACEUTICALS LIMITED	Principal Name 1	Mr. Bal Krishan Bansal
Status	Satisfactory	Principal Name 2	Mr. Mukesh Bansal
		Registration #	53-028465
Street Address	No. 50, Sector -28 A, Chandigarh – 160026, Chandigarh
Established Date	26.05.2005	SIC Code	--
Telephone#	91-172-5210200	Business Style 1	Manufacturer
Fax #	91-172-5033851	Business Style 2	--
Homepage	http://www.theonpharma.com	Product Name 1	Pharmaceutical Formulation
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.26,250,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors – 100%	Banking	HDFC Bank Limited
Public Limited Corp.	NO	Business Period	9 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (50)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	823,013,000	Current Liabilities	825,586,000
Inventories	342,211,000	Long-term Liabilities	179,132,000
Fixed Assets	392,321,000	Other Liabilities	28,117,000
Deferred Assets	0,000	Total Liabilities	1032,835,000
Invest& other Assets	55,507,000	Retained Earnings	553,967,000
		Net Worth	580,217,000
Total Assets	1613,052,000	Total Liab. & Equity	1613,052,000
Total Assets (Previous Year)	585,202,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	2255,079,000	Net Profit	244,865,000
Sales(Previous yr)	1521,094,000	Net Profit(Prev.yr)	195,380,000

MIRA INFORM REPORT

Report Date :

16.09.2014

IDENTIFICATION DETAILS

Name :	THEON PHARMACEUTICALS LIMITED
Registered Office :	No. 50, Sector -28 A, Chandigarh – 160026, Chandigarh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.05.2005
Com. Reg. No.:	53-028465
Capital Investment / Paid-up Capital :	Rs. 26.250 Million
CIN No.: [Company Identification No.]	U24231CH2005PLC028465
TAN No.: [Tax Deduction & Collection Account No.]	PTLT11788A
PAN No.: [Permanent Account No.]	AACCT2692J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Pharmaceutical Formulation.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 2320000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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 – 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

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	30.12.2013

Rating Agency Name	CRISIL
Rating	Short Term Rating A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	30.12.2013

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 31-03-2014.

INFORMATION DENIED

Management Non Cooperative. (91-172-5210200)

LOCATIONS

Registered Office :	No.50, Sector - 28 A, Chandigarh – 160026, India
Tel. No.:	91-172-5210200
Fax No.:	91-172-5033851
E-Mail :	parularoracs@gmail.com
Website :	http://www.theonpharma.com
Corporate Office :	Plot No-400, Industrial Area, Phase-1, Panchkula-134113, Haryana, India
Tel. No.:	91-172-5011077 / 5210200
Fax No.:	91-172-5033851
E-Mail :	contract@theonpharma.com mohitsharma@theonpharma.com admin@theonpharma.com rashidshaikh@theonpharma.com
Factory :	Village Saini Majra, Tehsil Nalagarh District Solan, Himachal Pradesh, India
Tel. No.:	91-1795-309200 / 265303 / 265304 / 669200
Fax No.:	91-1795-309295 and 265302
E-Mail :	info@theonpharma.com purchase@theonpharma.com

DIRECTORS

As on 30.12.2013

Name :

Mr. Bal Krishan Bansal

Designation :

Director

Address :

H. No.222, Sector-7, Panchkula, Haryana, India

Date of Birth/Age :

15.01.1953

Date of Appointment :

27.05.2005

PAN No.:

ADBPK3195Q

DIN No.:

00548350

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	U24231CH2005PLC028465	THEON PHARMACEUTICALS LIMITED	Director	27/05/2005	27/05/2005	-	Active	NO
2	U70100CH2005PTC028911	DIPLOMAT HOTELS PRIVATE LIMITED	Director	05/09/2005	05/09/2005	-	Strike off	NO
3	U72900KA2009PTC050123	WS Retail Services Private Limited	Director	28/02/2011	14/02/2011	06/09/2012	Active	NO

Name :

Mr. Mukesh Bansal

Designation :

Director

Address :

H. No.222, Sector-7, Panchkula, Haryana, India

Date of Birth/Age :

18.06.1979

Date of Appointment :

27.05.2005

DIN No.:

00548369

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	U24231CH2005PLC028465	THEON PHARMACEUTICALS LIMITED	Director	27/05/2005	27/05/2005	-	Active	NO
2	U21022CH2010PTC032393	ISIS PACKAGING PRIVATE LIMITED	Director	12/08/2010	12/08/2010	-	Active	NO

Name :

Mr. Lajpat Rai Bansal

Designation :

Whole-time director

Address :

H. No.222, Sector-7, Panchkula, Haryana, India

Date of Birth/Age :

01.07.1960

Date of Appointment :

10.05.2006

PAN No.:

AAUPB5619G

DIN No.:

00548376

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	U70100CH2005PTC028911	DIPLOMAT HOTELS PRIVATE LIMITED	Director	05/09/2005	05/09/2005	-	Strike off	NO
2	U24231CH2005PLC028465	THEON PHARMACEUTICALS LIMITED	Whole-time director	01/01/2012	10/05/2006	-	Active	NO
3	U21022CH2010PTC032393	ISIS PACKAGING PRIVATE LIMITED	Director	12/08/2010	12/08/2010	-	Active	NO

Name :

Mr. Anshul Bansal

Designation :

Whole-time director

Address :

H. No.203, Sector-7, Panchkula, Haryana, India

Date of Birth/Age :

08.03.1985

Date of Appointment :

01.04.2011

PAN No.:

AIOPB3430B

DIN No.:

00548418

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	U24231CH2005PLC028465	THEON PHARMACEUTICALS LIMITED	Whole-time director	01/04/2011	27/05/2005	-	Active	NO
2	U51397CH2009PTC031474	IVA HEALTHCARE PRIVATE LIMITED	Director	06/01/2009	06/01/2009	-	Active	NO

Name :

Mr. Amit Kumar Bansal

Designation :

Managing director

Address :

H No.64, Sector 28-A, Chandigarh, India

Date of Birth/Age :

24.04.1976

Date of Appointment :

01.04.2011

PAN No.:

ABBPB9319H

DIN No.:

01183281

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	U24231CH2005PLC028465	THEON PHARMACEUTICALS LIMITED	Managing director	01/04/2011	08/07/2005	-	Active	NO
2	U51410CH2006PLC029773	BANSI RAUNAQ ENERGY GROUP LTD	Director	23/02/2006	23/02/2006	-	Active	NO
3	U21022CH2010PTC032393	ISIS PACKAGING PRIVATE LIMITED	Director	12/08/2010	12/08/2010	-	Active	NO
4	U51397CH2009PTC031474	IVA HEALTHCARE PRIVATE LIMITED	Director	30/09/2013	20/08/2013	-	Active	NO

Name :

Mr. Manish Bansal

Designation :

Director

Address :

H No.64, Sector 28-A, Chandigarh, India

Date of Birth/Age :

13.11.1978

Date of Appointment :

01.04.2009

DIN No.:

00548494

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	U24231CH2005PLC028465	THEON PHARMACEUTICALS LIMITED	Director	01/04/2009	08/07/2005	-	Active	NO
2	U51397CH2009PTC031474	IVA HEALTHCARE PRIVATE LIMITED	Director	06/01/2009	06/01/2009	-	Active	NO
3	U21022CH2010PTC032393	ISIS PACKAGING PRIVATE LIMITED	Director	15/10/2011	11/02/2011	-	Active	NO

Name :

Ms. Madhu Bansal

Designation :

Whole-time director

Address :

H No.64, Sector 28-A, Chandigarh, India

Date of Birth/Age :

17.06.1953

Date of Appointment :

01.04.2010

PAN No.:

APSPB7922D

DIN No.:

02428389

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	U24231CH2005PLC028465	THEON PHARMACEUTICALS LIMITED	Whole-time director	01/04/2010	08/07/2005	-	Active	NO
2	U51397CH2009PTC031474	IVA HEALTHCARE PRIVATE LIMITED	Director	12/01/2009	12/01/2009	20/08/2013	Active	NO

Name :

Mr. Punit Bansal

Designation :

Whole-time director

Address :

H No. 109, Sector-7, Panchkula, Haryana, India

Date of Birth/Age :

12.08.1984

Date of Appointment :

01.04.2011

DIN No.:

00548436

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	U24231CH2005PLC028465	THEON PHARMACEUTICALS LIMITED	Whole-time director	01/04/2011	10/05/2006	-	Active	NO
2	U51397CH2009PTC031474	IVA HEALTHCARE PRIVATE LIMITED	Director	12/01/2009	12/01/2009	-	Active	NO
3	U74900CH2014OPC035145	SHARANAM ENTERPRISES OPC PRIVATE LIMITED	-	28/07/2014	-	-	Active	NO
4	AAC-1243	SHARANAM SERVICES LLP	Designated Partner	26/02/2014	26/02/2014	-	Active	NO

Name :

Ms. Monika Bansal

Designation :

Whole-time director

Address :

H No.64, Sector 28-A, Chandigarh, India

Date of Birth/Age :

23.09.1980

Date of Appointment :

01.04.2009

DIN No.:

00633294

Name :

Mr. Puran Chand Joshi

Designation :

Whole-time director

Address :

H No.117/B1, Ward No 2, Model Town, Pinjore, Haryana, India

Date of Birth/Age :

30.10.1966

Date of Appointment :

05.10.2013

DIN No.:

05216099

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.12.2013

Names of Shareholders	No. of Shares
Amit Kumar Bansal	402000
Monika Bansal	105000
Manish Bansal	399000
Madhu Bansal	406500
. Bal Krishan Bansal	302250
Mukesh Bansal	285000
Punit Bansal	130500
Lajpat Rai Bansal	174750
Anshul Bansal	157500
Brij Bala	262500
Total	2625000

As on 30.12.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Pharmaceutical Formulation.
Products and Services :	· Pharmaceutical Medicine Speciality Wise · Nutraceuticals · Pharmaceutical Medicine dosage wise · Drugs Controller General India Products –DCGI · Pharmaceutical Medicine New Molecules · Exports Pharmaceuticals Finished Goods · Pharmaceutical Medicine Section Wise

GENERAL INFORMATION

No. of Employees :

Information declined by the management.

Bankers :

· Canara Bank, Sco 117-118-119, Sector 17C, Chanigarh – 160017, Chaindigarh, India

· HDFC Bank Limited, HDFC Bank House senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012
LONG TERM BORROWING
Term Loan – From Banks
HDFC Bank Limited	16.352
HDFC Bank Limited	93.824
From Banks
Cash Credit A/c	76.209
Total	186.385
Secured Loan	As on 31.03.2013
Total	186.385
LONG TERM BORROWING
Rupee term loans from banks	120.073
SHORT TERM BORROWING
Working capital loans from banks	49.905
Other loans and advances	7.653
Total	177.631

Banking Relations :	---
Auditors :
Name :	S Kumar Gupta and Associates Chartered Accountants
PAN No.:	AECPG2057F

CAPITAL STRUCTURE

As on 30.12.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs. 40.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2625000	Equity Shares	Rs.10/- each	Rs. 26.250 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	26.250
(b) Reserves & Surplus	553.967
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	580.217
(3) Non-Current Liabilities
(a) long-term borrowings	121.573
(b) Deferred tax liabilities (Net)	19.934
(c) Other long term liabilities	0.000
(d) long-term provisions	5.828
Total Non-current Liabilities (3)	147.335
(4) Current Liabilities
(a) Short term borrowings	57.559
(b) Trade payables	747.172
(c) Other current liabilities	78.414
(d) Short-term provisions	2.355
Total Current Liabilities (4)	885.500
TOTAL	1613.052
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	391.017
(ii) Intangible Assets	1.304
(iii) Capital work-in-progress	55.457
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.050
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	27.500
(e) Other Non-current assets	0.000
Total Non-Current Assets	475.328
(2) Current assets
(a) Current investments	0.000
(b) Inventories	342.211
(c) Trade receivables	612.127
(d) Cash and cash equivalents	31.097
(e) Short-term loans and advances	152.181
(f) Other current assets	0.108
Total Current Assets	1137.724
TOTAL	1613.052

SOURCES OF FUNDS		31.03.2012	31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		26.250	17.500
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		348.153	186.743
4] (Accumulated Losses)		0.000	0.000
NETWORTH		374.403	204.243
LOAN FUNDS
1] Secured Loans		186.385	124.586
2] Unsecured Loans		12.400	12.400
TOTAL BORROWING		198.785	136.986
DEFERRED TAX LIABILITIES		12.014	11.476
TOTAL		585.202	352.705
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		295.284	174.218
Capital work-in-progress		0.000	0.000
INVESTMENT		0.050	0.050
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	180.938	95.697
	Sundry Debtors	439.691	306.008
	Cash & Bank Balances	11.613	3.907
	Other Current Assets	0.658	0.035
	Loans & Advances	137.200	48.464
Total Current Assets		770.100	454.111
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	412.957	239.420
	Other Current Liabilities	53.513	23.368
	Provisions	13.762	12.886
Total Current Liabilities		480.232	275.674
Net Current Assets		289.868	178.437
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		585.202	352.705

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	2255.079	1521.094	1051.734
		Other Income	3.265	0.539	1.036
		TOTAL (A)	2258.344	1521.633	1052.770
Less	EXPENSES
		Cost of Materials Consumed	1721.717	1121.948	798.743
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(23.506)	(5.477)	(1.228)
		Employees benefits expense	84.411	49.305	25.629
		Other expenses	165.093	52.685	39.767
		Administration Expenses	0.000	48.035	25.804
		Selling and Distribution Expenses	0.000	25.796	13.859
		TOTAL (B)	1947.715	1292.292	902.574
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		310.629	229.341	150.196
Less	FINANCIAL EXPENSES (D)		25.946	16.351	13.576
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		284.683	212.990	136.620
Less/ Add	DEPRECIATION/ AMORTISATION (F)		30.165	15.682	14.130
	PROFIT BEFORE TAX (E-F) (G)		254.518	197.308	122.490
Less	TAX (H)		9.653	1.928	0.135
	PROFIT AFTER TAX (G-H) (I)		244.865	195.380	122.625
	Earnings Per Share (Rs.)		93.28	74.43	46.71

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	10.84	12.84	11.65
Net Profit Margin (PBT/Sales)	(%)	11.29	12.97	11.65
Return on Total Assets (PBT/Total Assets}	(%)	16.34	18.52	19.49
Return on Investment (ROI) (PBT/Networth)		0.44	0.53	0.60
Debt Equity Ratio (Total Debt /Networth)		0.31	1.81	2.02
Current Ratio (Current Asset/Current Liability)		1.28	1.60	1.65

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	17.500	26.250	26.250
Reserves & Surplus	186.743	348.153	553.967
Net worth	204.243	374.403	580.217
long-term borrowings	136.986	198.785	121.573
Short term borrowings			57.559
Total borrowings	136.986	198.785	179.132
Debt/Equity ratio	0.671	0.531	0.309

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	1051.734	1521.094	2255.079
		44.627	48.254

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	1051.734	1521.094	2255.079
Profit	122.625	195.380	244.865
	11.66%	12.84%	10.86%

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	No
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

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Loans and advances from related parties	1.500	12.400
Total	1.500	12.400

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10395140	30/01/2013 *	20,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B67327551
2	10318631	29/11/2013 *	20,666,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B92021369
3	10298451	29/11/2013 *	663,507,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B92021633
4	10092434	10/03/2008	3,000,000.00	GOVERNOR OF HIMACHAL PRADESH (THROUGH GM INDUSTRIE  S CENTRE)	DIRECTORATE OF INDUSTRIES, GOVERNMENT OF HIMAHAL  PRADESH, SHIMLA, Himachal Pradesh - 171001, INDIA	A34077925

* Date of charge modification

FIXED ASSETS

· Land and Building

· Vehicles (Commercial and Passenger)

· Office and Plant Furniture

· Computers

· Lab Items

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.60.43
UK Pound	1	Rs.98.64
Euro	1	Rs.78.19

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	ART

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	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.