MIRA INFORM REPORT

Report No. :	312349
Report Date :	25.04.2015

IDENTIFICATION DETAILS

Name :	PURANI HOSPITAL SUPPLIES LIMITED (w.e.f. 26.04.2004)
Formerly Known As :	PURANI HOSPITAL SUPPLIES PRIVATE LIMITED
Registered Office :	No.117, 3^rd Floor Purani Trade Centre, Sengupta Road, Ramnagar, Coimbatore – 641009, Tamilnadu
Tel. No. :	91-422-4227600/ 2232560/ 2231037/ 4227605 to 09/ 4227613 to 616
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.05.2000
Com. Reg. No.:	18-009344
Capital Investment / Paid-up Capital :	Rs.14.504 Million
CIN No.: [Company Identification No.]	U33119TZ2000PLC009344
TAN No.: [Tax Deduction & Collection Account No.]	CMBP03811D
PAN No.: [Permanent Account No.]	AADCP0574C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Distributor of Medicines.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 400000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating reflects company sound financial risk profile marked by healthy networth position and fair profitability of the company. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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 BY

Name :	Mr. Suresh Babu
Designation :	Business Incharge
Contact No.:	91-9600912350
Date :	24.04.2015

LOCATIONS

Registered Office :	No.117, 3^rd Floor Purani Trade Centre, Sengupta Road, Ramnagar, Coimbatore – 641009, Tamilnadu, India
Tel. No. :	91-422-4227600/ 2232560/ 2231037/ 4227605 to 09/ 4227613 to 616 / 422618 to 619
Mobile No. :	91-9600912350 (Mr. Suresh Babu)
Fax No. :	91-422- 4227626
E-Mail :	ramchandaracsllb@gmail.com puranispldiv@gmail.com support@puranisupplies.com
Website :	http://www.puranisupplies.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Palanisami Thavamanidevi

Designation :

Director

Address :

No-1, Kovai Estate, Veeriyampalayam Road, Kalapatti, Coimbatore – 641035, Tamilnadu, India

Date of Birth/Age :

17.11.1947

Qualification :

Doctor

Date of Appointment :

01.09.2014

PAN No.:

ABCPT7584R

DIN No. :

00012135

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	U65999TZ1990PTC002918	KOVAI PURANI FINANCE Private Limited	Director	27/08/1997	27/08/1997	-	Active	NO
2	U72200TZ2000PLC009237	AOSTA SOFTWARE TECHNOLOGIES INDIA LIMITED	Director	13/03/2000	13/03/2000	-	Active	NO
3	U33119TZ2000PLC009344	PURANI HOSPITAL SUPPLIES LIMITED	Director	01/09/2014	19/05/2000	-	Active	NO
4	L85110TZ1985PLC001659	KOVAI MEDICAL CENTER AND HOSPITAL LIMITED	Whole-time director	29/07/2010	29/07/2000	-	Active	NO
5	U85110TZ2001PLC009631	IDHAYAM HOSPITALS ERODE LIMITED	Director	17/07/2008	19/04/2007	-	Active	NO
6	U24231TZ2011PLC017367	EDG PHARMACEUTICALS (INDIA)LIMITED	Director	29/08/2011	29/08/2011	-	Active	NO

Name :

Mr. Deivasigamani Palaniswamy

Designation :

Whole-time director

Address :

Door No.A5, Brindha Nagar, Kalapatti, Coimbatore – 641014, Tamilnadu, India

Date of Birth/Age :

15.04.1971

Date of Appointment :

01.11.2014

PAN No. :

AASPP2810P

DIN No. :

01692072

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	U70101TZ1994PTC005531	PAVAI PROPERTY DEVELOPERS PRIVATE LIMITED	Director	24/11/1994	24/11/1994	-	Active	NO
2	U63040TZ1995PTC006711	M A P S TRAVELS PRIVATE LIMITED	Director	20/12/1996	20/12/1996	-	Active	NO
3	U33119TZ2000PLC009344	PURANI HOSPITAL SUPPLIES LIMITED	Whole-time director	01/11/2014	01/07/2004	-	Active	NO
4	U65999TZ1990PTC002918	KOVAI PURANI FINANCE Private Limited	Managing director	01/11/2009	01/11/2004	10/12/2012	Active	NO
5	U24231TZ2011PLC017367	EDG PHARMACEUTICALS (INDIA)LIMITED	Director	29/08/2011	29/08/2011	-	Active	NO

Name :

Mr. Purani Pavai Palaniswami

Designation :

Director

Address :

No-1, Kovai Estate, Veeriyampalayam Road, Kalapatti, Coimbatore – 641035, Tamilnadu, India

Date of Birth/Age :

18.12.1975

Qualification :

Doctor

Date of Appointment :

24.05.2004

DIN No. :

02707233

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	U33119TZ2000PLC009344	PURANI HOSPITAL SUPPLIES LIMITED	Director	24/05/2004	24/05/2004	-	Active	NO
2	U72200TZ2000PLC009237	AOSTA SOFTWARE TECHNOLOGIES INDIA LIMITED	Director	09/10/2004	09/10/2004	-	Active	NO
3	U24231TZ2011PLC017367	EDG PHARMACEUTICALS (INDIA)LIMITED	Director	29/08/2011	29/08/2011	-	Active	NO
4	U65999TZ1990PTC002918	KOVAI PURANI FINANCE Private Limited	Director	11/08/2014	01/09/2013	-	Active	NO
5	L85110TZ1985PLC001659	KOVAI MEDICAL CENTER AND HOSPITAL LIMITED	Director	03/09/2014	03/09/2014	-	Active	NO

Name :

Mr. Mohan Sethupathy Gounder

Designation :

Director

Address :

No-1, Kovai Estate, Veeriyampalayam Road, Kalapatti, Coimbatore – 641035, Tamilnadu, India

Date of Birth/Age :

26.11.1973

Qualification :

Doctor

Date of Appointment :

24.05.2004

DIN No. :

02479218

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	U33119TZ2000PLC009344	PURANI HOSPITAL SUPPLIES LIMITED	Director	24/05/2004	24/05/2004	-	Active	NO
2	L85110TZ1985PLC001659	KOVAI MEDICAL CENTER AND HOSPITAL LIMITED	Whole-time director	19/07/2013	31/07/2004	-	Active	NO
3	U72200TZ2000PLC009237	AOSTA SOFTWARE TECHNOLOGIES INDIA LIMITED	Director	09/10/2004	09/10/2004	-	Active	NO
4	U24231TZ2011PLC017367	EDG PHARMACEUTICALS (INDIA)LIMITED	Director	29/08/2011	29/08/2011	-	Active	NO
5	U65999TZ1990PTC002918	KOVAI PURANI FINANCE Private Limited	Director	11/08/2014	01/09/2013	-	Active	NO

Name :

Mr. Nallagounder Palaniswami Arun

Designation :

Director

Address :

No-1, Kovai Estate, Veeriyampalayam Road, Kalapatti, Coimbatore – 641035, Tamilnadu, India

Date of Birth/Age :

03.08.1979

Qualification :

Doctor

Date of Appointment :

19.05.2000

DIN No. :

02706099

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	U72200TZ2000PLC009237	AOSTA SOFTWARE TECHNOLOGIES INDIA LIMITED	Director	13/03/2000	13/03/2000	-	Active	NO
2	U33119TZ2000PLC009344	PURANI HOSPITAL SUPPLIES LIMITED	Director	19/05/2000	19/05/2000	-	Active	NO
3	U65999TZ1990PTC002918	KOVAI PURANI FINANCE Private Limited	Managing director	01/10/2014	28/04/2004	-	Active	NO
4	U24231TZ2011PLC017367	EDG PHARMACEUTICALS (INDIA)LIMITED	Director	29/08/2011	29/08/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Suresh Babu
Designation :	Business Incharge

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Thavamani Devi Palaniswami	240352
D. Palaniswami	20500
Nalla G. Palaniswami	10000
Arun Palaniswami	947000
Mohan S. Gounder	44000
Purani Pavai Palaniswami	48000
Sivakami Nallathambi	450
Kovai Purani Finance Limited, India	140000
A. Gangadevi	10
J Tamilarasi	10
C Suganya	10
R. Venkatachalam	10
Mezhil Malar	10
Total	1450352

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	10.00
Directors or relatives of Directors	90.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Distributor of Medicines.

Products :

Item Code No. (ITC Code)	Product Description
98041000	Drugs and medicines

Brand Names :

Not Divulged

Agencies Held :

· Roche Products (India) Private Limited

· Abbott India Limited

· Emcure Pharmaceuticals Limited

· Abbott Healthcare Limited

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS : NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Information declined by the management.

Bankers :

Bank Name	City Union Bank Limited
Branch	Ram Nagar Branch, Ram Nagar, Coimbatore - 641009, Tamilnadu, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Rupee term loans from banks [Term loan from City Union bank is secured by Immovable properties purchased out of Term loan from City Union Bank]	22.876	28.077
SHORT TERM BORROWINGS
Loans repayable on demand from banks [Loan repayable on demand from City Union Bank Limited is secured by hypothecation of entire current assets of the company and also by the personal guarantee of all the directors of the company.]	76.378	83.541
Total	99.254	111.618

Auditors :
Name :	V. Chandramouli Chartered Accountant
Address :	339, Variety Hall, Road, Opposite Central Bank of India, Coimbatore - 641001, Tamilnadu, India
Income-tax PAN of auditor or auditor's firm :	AAMPC4992K
Memberships :	--
Collaborators :	--
Associated Concerns:	Kovai Medical Center and Hospital Limited MAPS Travels Private Limited K-Pharmacy Kovai Purani Finance Limited NGP Petrol Bunk EDG Pharmaceuticals (India) Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,500,000	Equity Shares	Rs.10/- each	Rs. 15.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,450,352	Equity Shares	Rs.10/- each	Rs. 14.504 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	14.504	11.900	11.900
(b) Reserves & Surplus	125.712	103.691	82.833
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	1.603	1.604
Total Shareholders’ Funds (1) + (2)	140.216	117.194	96.337
(3) Non-Current Liabilities
(a) long-term borrowings	25.988	30.930	38.111
(b) Deferred tax liabilities (Net)	4.783	3.619	2.356
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	1.960
Total Non-current Liabilities (3)	30.771	34.549	42.427
(4) Current Liabilities
(a) Short term borrowings	76.378	83.541	92.640
(b) Trade payables	61.475	57.344	56.896
(c) Other current liabilities	12.785	14.241	6.131
(d) Short-term provisions	9.499	9.422	7.636
Total Current Liabilities (4)	160.137	164.548	163.303
TOTAL	331.124	316.291	302.067
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	91.971	77.507	71.627
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	48.032	47.241	58.451
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	140.003	124.748	130.078
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	40.323	55.923	54.913
(c) Trade receivables	120.191	107.107	92.522
(d) Cash and cash equivalents	13.018	13.434	15.370
(e) Short-term loans and advances	17.589	15.079	9.184
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	191.121	191.543	171.989
TOTAL	331.124	316.291	302.067

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1515.533	1353.622	1113.956
		Other Income	8.360	7.796	7.655
		TOTAL (A)	1523.893	1361.418	1121.611
Less	EXPENSES
		Purchases of stock-in-trade	1395.880	1253.484	1037.045
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	15.601	(1.010)	(13.422)
		Employee benefit expense	34.228	33.289	27.962
		Other expenses	27.010	23.587	21.864
		TOTAL (B)	1472.719	1309.350	1073.449
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		51.174	52.068	48.162
Less	FINANCIAL EXPENSES (D)		14.513	17.111	17.454
	PROFIT /(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		36.661	34.957	30.708
Less. Add	DEPRECIATION/AMORTISATION (F)		4.046	3.499	3.251
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		32.615	31.458	27.457
Less	TAX (H)		10.594	10.600	9.136
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		22.021	20.858	18.321
	Earnings /(Loss) Per Share (Rs.)		15.18	17.53	15.40

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.45	1.54	1.64
Operating Profit Margin (PBIDT/Sales)	(%)	3.38	3.85	4.32
Return on Total Assets (PBT/Total Assets}	(%)	9.85	9.95	9.09
Return on Investment (ROI) (PBT/Networth)		0.23	0.27	0.29
Debt Equity Ratio (Total Debt/Networth)		0.73	0.98	1.36
Current Ratio (Current Asset/Current Liability)		1.19	1.16	1.05

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	11.900	11.900	14.504
Reserves & Surplus	82.833	103.691	125.712
Share Application money pending allotment	1.604	1.603	0.000
Net worth	96.337	117.194	140.216
long-term borrowings	38.111	30.930	25.988
Short term borrowings	92.640	83.541	76.378
Total borrowings	130.751	114.471	102.366
Debt/Equity ratio	1.357	0.977	0.730

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1113.956	1353.622	1515.533
		21.515	11.961

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1113.956	1353.622	1515.533
Profit	18.321	20.858	22.021
	1.64%	1.54%	1.45%

LOCAL AGENCY FURTHER INFORMATION

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

UNSECURED LOAN

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Other loans and advances, others	3.112	2.853
Total	3.112	2.853

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10229942	14/10/2011 *	190,647,942.00	CITY UNION BANK LIMITED	RAM NAGAR BRANCH, RAM NAGAR, COIMBATORE, TAMIL NA  DU - 641009, INDIA	B25917857

* Date of charge modification

CHANGE OF ADDRESS

The registered office of the company has been shifted from No.57, Sengupta Street, Ramnagar, Coimbatore – 641009, Tamilnadu, India to the present address w.e.f. 16.09.2009.

FIXED ASSETS

· Buildings

· Furniture and Fixtures

· Vehicles

· Motor Vehicles

· Office Equipment

· Computer Equipments

· Other Equipments

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.63.40
UK Pound	1	Rs.95.42
Euro	1	Rs.68.49

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis done by :	DIV
Report Prepared by :	SNT

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
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.