MIRA INFORM REPORT

Report No. :	312351
Report Date :	22.04.2015

IDENTIFICATION DETAILS

Name :	GAUDEV AND COMPANY
Registered Office :	6-3-668/9/6, 2^nd Floor, Punjagutta Main Road, Hyderabad – 500082, Telangana
Tel. No.:	91-40-65916729
Country :	India
Financials (as on) :	31.03.2015 (Provisional)
Year of establishment :	2005
Capital Investment / Paid-up Capital :	Rs. 21.635 Million
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	ACMPK3914B
TIN No.:	28200222447
CST No.:	PJT/12/2/3240/2004-05
Legal Form :	Sole Proprietary Concern
Line of Business :	Dealer and Distributors of Roche Products and Ranbaxy Products, Geman Remdedies, Zydus, Cadila and Glenmark.
No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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 :	Clear
Comments :	Subject is an established proprietary concern having satisfactory track. Trade relations are fair. Business is active. Payment are reported to be usually correct. The concern 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Shiv Chobey
Designation :	Accountant
Contact No.:	91-9246341330
Date :	20.04.2015

LOCATIONS

Registered Office :	6-3-668/9/6, 2^nd Floor, Punjagutta Main Road, Hyderabad – 500082, Telangana, India
Tel. No.:	91-40-65916729
Mobile No.:	91-9246341330 (Mr. Shiv Chobey)
Fax No.:	91-40-23417242
E-Mail :	gaudevcompany@yahoo.com
Location :	Rented

SOLE PROPRIETOR

Name :	Mr. Pravan Kumar Pacheria
Designation :	Proprietor
Address :	21-7-590, Ghansi Bazar, Hyderabad, Telanagana, India
Date of Birth/Age :	20.02.1965
Qualification :	S.S.C.
Experience :	35 Years

KEY EXECUTIVES

Name :	Mr. Shiv Chobey
Designation :	Accountant

BUSINESS DETAILS

Line of Business :	Dealer and Distributors of Roche Products and Ranbaxy Products, Geman Remdedies, Zydus, Cadila and Glenmark.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Roche Ranbaxy Labs Limited Cipla Limited Glenmark etc
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Credit (30/ 60/ 90 days)
Purchasing :	Cash and Credit (30/ 60/ 90 days)

GENERAL INFORMATION

Suppliers :

Reference :	Boi Con Limited, Secunderabad, Telangana, India
Name of the Person :	Mr. Ravi (C.F.A. Incharge)
Contact No.:	91-40-40077963
Since How Long Known :	3 years
Experience :	Not Divulged
Maximum Limit Dealt :	Monthly Rs. 0.600 Million
Remark :	As claimed by Mr. Ravi that subject is very good company they make payment on well known company in market.

• Cadila Healthcare, Hyderabad, Telangana, India

(Tel No.: 91-970440906)

• RPG Life Science, Securnderabad, Telanagana, India

(Tel No.: 91-40-27819648)

Customers :

Reference :	Nizam Institute of Medical Science, Hyderabad, Telangana, India
Name of the Person :	Mrs. Usha (Medical Store)
Contact No.:	91-40-23489069
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	As claimed by Mrs. Usha that product is very good and they make delivery on time, declined to part maximum limit and since how long they are doing business with subject.

• Premier Hospital, Hyderabad, Telanagana, India

(Tel No.: 91-40-23516552) Mr. Srikanth (Stores)

• Asian Institute of Nephrology, Hyderabad, Telanagana, India

(Tel No.: 91-9652213293) Mr. Vinod (Stores)

No. of Employees :

8 (Approximately)

Bankers :

Banker Name	The A. P. Mahesh Co-Operative Urban Bank Limited
Branch Address	Khairtabad Branch, Hyderabad, Telanagana, India
Person Name (With Designation)	Mr. Anil Kumar Vijaywargi (Manager)
Contact Number	91-40-23431802/812
Name of Account Holder	Gaudev and Company
Account Number	12640
Account Since (Date/Year of Account Opening)	2013
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Overdraft Limit
Account Operation	Very Good
Remarks (If any)	Account operation is very regular and Proprietor of the firm is credit worthy.

Auditors :
Name :	G.D. Upadyay and Company Chartered Accountants
Address :	15-1-53, 2^nd Floor, Siddiamber Bazar, Hyderabad, Telanagana, India
Tel. No.:	91-40-24743082/24650095
E-Mail :	Gdu-ca@rediffmail.com
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2015

Capital Investment :
Owned :	Rs. 21.635 Million
Borrowed :	--
Total :	Rs. 21.635 Million

FINANCIAL DATA

[all figures are in Rupees Million]

PROVISIONAL BALANCE SHEET

SOURCES OF FUNDS		31.03.2015
SHAREHOLDERS FUNDS
1] Share Capital		21.635
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		21.635
LOAN FUNDS
1] Secured Loans		22.806
2] Unsecured Loans		13.199
TOTAL BORROWING		36.005
DEFERRED TAX LIABILITIES		0.000
TOTAL		57.640
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.959
Capital work-in-progress		0.000
INVESTMENT		19.299
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	11.565
	Sundry Debtors	28.580
	Cash & Bank Balances	0.315
	Other Current Assets	0.000
	Loans & Advances	0.828
Total Current Assets		41.288
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.845
	Other Current Liabilities	0.061
	Provisions	0.000
Total Current Liabilities		3.906
Net Current Assets		37.382
MISCELLANEOUS EXPENSES		0.000
TOTAL		57.640

PROVISIONAL PROFIT AND LOSS ACOUNT

	PARTICULARS		31.03.2015
	SALES
		Income	101.469
		Other Income	1.686
		TOTAL	103.155
Less	EXPENSES
		Cost of Goods Sold	91.055
		Bank Charges	0.199
		Bank Interest	3.679
		Insurance	0.025
		Business Promotion	0.233
		Rent	0.060
		Interest	0.420
		Electricity Charges	0.111
		Freight	0.063
		Postage and Courier	0.011
		Printing and stationery	0.016
		Professional tax	0.003
		Others	2.645
		TOTAL	98.520
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		4.635
Less/ Add	DEPRECIATION/ AMORTISATION		0.174
	NET PROFIT		4.461

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Share Capital		18.674	10.920	12.359
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		18.674	10.920	12.359
LOAN FUNDS
1] Secured Loans		30.982	25.832	21.166
2] Unsecured Loans		23.194	1.842	2.071
TOTAL BORROWING		54.176	27.674	23.237
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		72.850	38.594	35.596
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.132	1.134	1.219
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		19.298	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.845	13.030	15.485
	Sundry Debtors	39.728	22.441	16.071
	Cash & Bank Balances	3.264	1.759	2.210
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.428	2.327	2.551
Total Current Assets		57.265	39.557	36.317
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4.488	1.739	1.715
	Other Current Liabilities	0.225	0.116	0.147
	Provisions	0.132	0.242	0.078
Total Current Liabilities		4.845	2.097	1.940
Net Current Assets		52.420	37.460	34.377
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		72.850	38.594	35.596

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	80.482	52.546	54.679
		Other Income	2.845	1.484	0.415
		TOTAL	83.327	54.030	55.094
Less	EXPENSES
		Cost of Goods Sold	73.941	46.747	47.825
		Salaries	1.917	1.182	1.271
		Interest	3.277	2.771	2.627
		Repairs and Maintenance	0.030	0.039	0.014
		Vehicle Maintenance	0.150	0.133	0.130
		Legal Expenses	0.046	0.015	0.000
		Professional Tax	0.000	0.003	0.000
		Prior Period	0.000	0.010	0.000
		Property Tax	0.174	0.127	0.035
		Staff Welfare	0.005	0.023	0.000
		Postage and Telegrams	0.013	0.002	0.002
		Carriage Outward	0.036	0.015	0.028
		Software Expenses	0.000	0.016	0.000
		Audit Fees	0.039	0.029	0.029
		Telephone Charges	0.031	0.025	0.025
		Electricity Charges	0.119	0.089	0.089
		Bank Charges	0.939	0.000	0.000
		Other Expenses	0.551	0.599	0.805
		TOTAL	81.268	51.825	52.880
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		2.059	2.205	2.214
Less/ Add	DEPRECIATION/ AMORTISATION		0.180	0.175	0.191
	NET PROFIT		1.879	2.030	2.023

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	2.33	3.86	3.70
Return on Total Assets (PBT/Total Assets}	(%)	3.58	5.42	5.88
Return on Investment (ROI) (PBT/Networth)		0.10	18.59	18.37
Debt Equity Ratio (Total Debts/Networth)		2.90	2.53	188.01
Current Ratio (Current Asset/Current Liability)		11.82	18.86	18.72

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	12.359	10.920	18.674
Reserves & Surplus	0.000	0.000	0.000
Net worth	12.359	10.920	18.674
Secured loan	21.166	25.832	30.982
Unsecured loan	2.071	1.842	23.194
Total borrowings	23.237	27.674	54.176
Debt/Equity ratio	1.880	2.534	2.901

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	54.679	52.546	80.482
		-3.901	53.165

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	54.679	52.546	80.482
Profit	2.023	2.030	1.879
	3.70%	3.86%	2.33%

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	No
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
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	No
25]	Conduct of the banking account	-------
26]	Buyer visit details	-------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

NETWORTH : Mr. Pawan Kumar is having networth exceeding Rs. 25.000 Million.

PROVISIONAL BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016
SHAREHOLDERS FUNDS
1] Share Capital		27.312	23.753
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		27.312	23.753
LOAN FUNDS
1] Secured Loans		19.504	21.214
2] Unsecured Loans		6.199	8.199
TOTAL BORROWING		25.703	29.413
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		53.015	53.166
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.686	0.811
Capital work-in-progress		0.000	0.000
INVESTMENT		19.299	19.299
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.000	12.000
	Sundry Debtors	26.000	25.500
	Cash & Bank Balances	0.250	0.250
	Other Current Assets	0.000	0.000
	Loans & Advances	0.850	0.850
Total Current Assets		39.100	38.600
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.000	5.477
	Other Current Liabilities	0.070	0.065
	Provisions	0.000	0.000
Total Current Liabilities		6.070	5.542
Net Current Assets		33.030	33.058
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		53.015	53.167

PROVISIONAL PROFIT AND LOSS ACOUNT

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Income	140.000	120.000
		Other Income	1.800	1.700
		TOTAL	141.800	121.700
Less	EXPENSES
		Cost of Goods Sold	127.095	109.140
		Bank Charges	0.220	0.210
		Bank Interest	3.500	3.500
		Insurance	0.025	0.025
		Business Promotion	0.280	0.240
		Rent	0.060	0.060
		Electricity Charges	0.125	0.111
		Freight	0.070	0.065
		Postage and Courier	0.012	0.011
		Printing and stationery	0.017	0.016
		Professional tax	0.003	0.003
		Others	3.172	2.877
		TOTAL	134.579	116.258
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		7.221	5.442
Less/ Add	DEPRECIATION/ AMORTISATION		0.124	0.148
	NET PROFIT		7.097	5.294

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 records 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. 62.92
UK Pound	1	Rs. 93.57
Euro	1	Rs. 67.34

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUB
Report Prepared by :	JYO

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	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		42

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.