MIRA INFORM REPORT

Report No. :	312199
Report Date :	30.04.2015

IDENTIFICATION DETAILS

Name :	ARTEMIS MEDICARE SERVICES LIMITED (w.e.f. 05.10.2009)
Formerly Known As :	ARTEMIS MEDICARE SERVICES PRIVATE LIMITED
Registered Office :	414/1, 4^th Floor, DDA Commercial Complex, District Centre, Janakpuri, New Delhi – 110 058
Tel. No. :	91-124-6767999
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.05.2004
Com. Reg. No.:	55-126414
Capital Investment / Paid-up Capital :	Rs. 210.350 Million
CIN No.: [Company Identification No.]	U85110DL2004PLC126414
IEC No.:	Not Available
TIN No.:	06461826988
Service Tax No.:	AAFCA0130MST001
TAN No.: [Tax Deduction & Collection Account No.]	DELA16048E
PAN No.: [Permanent Account No.]	AAFCA0130M
Legal Form :	A Closely Held Public Limited liability Company
Line of Business :	Subject is engaged in the business of managing and operating of multi specialty hospital
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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 company having satisfactory track record. The company has possesses sound operational performance and maintained profitability margins at 2.56% back by debt to equity ratio at 0.62 times. Rating also takes into consideration established track record of business operations and extensive industry experience of its promoters. Trade relations are fair. Business is active. Payments are reported to be usually correct. In view of sound operational track record, 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 – 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	CARE
Rating	Long Term Bank Facilities BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	August 08, 2014

Rating Agency Name	CARE
Rating	Short-term Bank Facilities A3
Rating Explanation	Moderate degree of safety and higher credit risk
Date	August 08, 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 DENIED

Management Non-Cooperative (91-124-6767999)

LOCATIONS

Registered Office :	414/1, 4^th Floor, DDA Commercial Complex, District Centre, Janakpuri, New Delhi – 110 058, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	navneetg@artemishealthsciences.com
Website :	http://www.artemishealthsciences.com http://www.artemishospitals.com
Location :	Owned
Artemis Health Institute :	Sector-51, Gurgaon – 122 001, Haryana, India
Tel. No.:	91-124-6767999
Fax No.:	91-124-6767701
Artemis Hospital :	Plot No.14, Sector-20, Dwraka, New Delhi – 110 075, India
Tel. No.:	91-11-71111000
Fax No.:	91-11-71111002

DIRECTORS

AS ON 12.09.2014

Name :

Mr. Prem Narain Wahal

Designation :

Director

Address :

BP-79, Paschimi Shalimar Bagh, Delhi – 110 088, India

Date of Birth/Age :

26.12.1949

Date of Appointment :

25.09.2007

DIN No.:

00058886

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	U24233DL2005PTC137786	ARTEMIS LIFE SCIENCES PRIVATE LIMITED	Director	20/06/2005	20/06/2005	-	Strike off	NO
2	U33111DL2005PTC137889	ARTEMIS MEDIEQUIPMENTS PRIVATE LIMITED	Director	22/06/2005	22/06/2005	-	Strike off	NO
3	U80301DL2005PTC138358	ARTEMIS MEDICAL INSTITUTE & HOSPITALS PRIVATE LIMITED	Director	06/07/2005	06/07/2005	-	Strike off	NO
4	U33111DL2005PLC144156	ARTEMIS HEALTH SCIENCES LIMITED	Director	28/12/2005	28/12/2005	-	Active	NO
5	U85110DL2004PLC126414	ARTEMIS MEDICARE SERVICES LIMITED	Director	25/09/2007	24/01/2007	-	Active	NO
6	U63040KL2004PTC017537	LIBERTY INDIA TRANS TRAVEL PRIVATE LIMITED	Nominee director	08/03/2007	08/03/2007	-	Active	YES
7	U25111KL2005PLC018458	APOLLO RADIAL TYRES LIMITED	Director	17/07/2008	21/12/2007	-	Strike off	NO
8	U25111KL2005PLC018457	APOLLO AUTOMOTIVE TYRES LIMITED	Director	17/07/2008	21/12/2007	-	Strike off	NO
9	U80221DL2011PLC225198	Athena Eduspark Limited	Director	19/09/2011	19/09/2011	-	Active	NO

Name :

Mr. Onkar S. Kanwar

Designation :

Director

Address :

3/3, Shanti Niketan, New Delhi – 110 021, India

Date of Birth/Age :

01.03.1942

Date of Appointment :

25.09.2007

DIN No.:

00058921

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	L25111KL1972PLC002449	APOLLO TYRES LIMITED.	Managing director	01/02/2013	03/06/1982	-	Active	NO
2	U45309KL1961SGC001937	KERALA STATE INDUSTRIAL DEVELOPMENT CORPN LTD	Director	25/05/2012	30/11/1994	22/01/2015	Active	NO
3	L25111KL1959PLC009300	PTL ENTERPRISES LIMITED	Director	17/04/1995	17/04/1995	-	Active	NO
4	U25111KL2005PLC018457	APOLLO AUTOMOTIVE TYRES LIMITED	Director	21/07/2005	21/07/2005	21/12/2007	Strike off	NO
5	U25111KL2005PLC018458	APOLLO RADIAL TYRES LIMITED	Director	21/07/2005	21/07/2005	21/12/2007	Strike off	NO
6	U74899DL1994PLC061080	APOLLO INTERNATIONAL LIMITED	Director	27/06/2006	27/06/2006	27/07/2012	Active	NO
7	U33111DL2005PLC144156	ARTEMIS HEALTH SCIENCES LIMITED	Director	25/09/2007	14/09/2006	-	Active	NO
8	U85110DL2004PLC126414	ARTEMIS MEDICARE SERVICES LIMITED	Director	25/09/2007	14/09/2006	-	Active	NO
9	U92120DL2005PLC135845	UFO MOVIEZ LIMITED	Nominee director	24/08/2007	29/09/2006	-	Amalgamated	NO
10	U22120DL2004PLC164728	UFO MOVIEZ INDIA LIMITED	Director	21/11/2008	17/10/2008	26/04/2010	Active	NO
11	U27101DL2011PLC216530	PTL PROJECTS LIMITED	Director	25/03/2011	25/03/2011	-	Active	NO
12	U80221DL2011PLC225198	Athena Eduspark Limited	Director	06/08/2012	30/11/2011	14/07/2014	Active	NO
13	U70102HR2012PTC045270	LETO REALTORS PRIVATE LIMITED	Director	16/09/2013	06/03/2012	-	Active	NO
14	U63020DL1989PLC174286	APOLLO LOGISOLUTIONS LIMITED	Director	24/09/2012	27/07/2012	-	Active	NO
15	U74999MH1957GOI010918	ECGC Limited	Director	01/10/2013	01/10/2013	23/01/2015	Active	NO
16	AAC-2179	OSK CONSULTANTS LLP	Designated Partner	27/03/2014	27/03/2014	-	Active	NO
17	AAC-2180	O & T CONSULTANTS LLP	Designated Partner	27/03/2014	27/03/2014	-	Active	NO

Name :

Ms. Shalini Chand

Designation :

Director

Address :

3/3, Shanti Niketan, New Delhi – 110 021, India

Date of Birth/Age :

08.03.1968

Date of Appointment :

25.09.2007

DIN No.:

00015511

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	U74899DL1995PLC068740	TRAVEL TRACKS LIMITED	Director	14/07/1995	14/07/1995	06/12/2008	Active	NO
2	U85110DL2004PLC126414	ARTEMIS MEDICARE SERVICES LIMITED	Director	25/09/2007	24/01/2007	-	Active	NO
3	U33111DL2005PLC144156	ARTEMIS HEALTH SCIENCES LIMITED	Director	25/09/2007	24/01/2007	-	Active	NO

Name :

Mr. Subbaraman Narayan

Designation :

Director

Address :

8, Golf Apartments, Opposite Sujan Singh Park, New Delhi – 110 003, India

Date of Birth/Age :

20.06.1943

Date of Appointment :

25.09.2007

DIN No.:

00094081

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	L25111KL1972PLC002449	APOLLO TYRES LIMITED.	Director	14/02/2005	14/02/2005	-	Active	NO
2	L51909MH2002PLC135594	MULTI COMMODITY EXCHANGE OF INDIA LIMITED	Director	01/07/2005	01/07/2005	01/04/2009	Active	NO
3	L24230DL1975PLC007908	DABUR INDIA LIMITED	Director	26/07/2005	26/07/2005	-	Active	NO
4	U31200DL2005PLC133875	TEESTA URJA LIMITED	Nominee director	14/12/2009	28/08/2005	01/04/2012	Active	NO
5	L29211PB1970PLC002942	PUNJAB TRACTORS LIMITED	Additional director	19/10/2006	19/10/2006	10/05/2007	Amalgamated	NO
6	U85110DL2004PLC126414	ARTEMIS MEDICARE SERVICES LIMITED	Director	25/09/2007	19/10/2006	-	Active	NO
7	L21012TZ1960PLC000364	SESHASAYEE PAPER AND BOARDS LIMITED	Director	25/07/2014	18/01/2007	-	Active	NO
8	U17117HP2000PLC026391	GPI TEXTILES LTD	Nominee director	28/03/2007	28/03/2007	31/03/2008	Active	NO
9	U51909DL2008PTC175945	CASTLEWOOD TRADING PRIVATE LIMITED	Director	17/05/2008	17/05/2008	-	Active	NO
10	U51900DL2008PTC179549	ATHENA VENTURE STRATEGIES PRIVATE LIMITED.	Director	16/06/2008	16/06/2008	16/03/2012	Active	NO
11	L74120MH1985PLC035308	GODREJ PROPERTIES LIMITED	Director	02/08/2014	25/10/2008	-	Active	NO
12	L65110TN1926PLC001377	LAKSHMI VILAS BANK LIMITED	Director	29/01/2009	27/11/2008	27/01/2011	Active	NO
13	U85110HR2003PTC035036	ARA Health Care Private Limited	Director	30/09/2009	02/02/2009	24/07/2012	Active	NO
14	U40108DL2003PTC120409	ATHENA INFRAPROJECTS PRIVATE LIMITED	Director	10/09/2009	29/05/2009	27/03/2012	Active	NO
15	L24246MH1986PLC040817	FEM CARE PHARMA LIMITED	Additional director	25/06/2009	25/06/2009	-	Amalgamated	NO
16	U66010DL2000PLC107880	AVIVA LIFE INSURANCE COMPANY INDIA LTD	Nominee director	04/08/2010	27/02/2010	07/02/2014	Active	NO
17	U67190HR2010PTC044941	MCAP FUND ADVISORS PRIVATE LIMITED	Director	01/04/2011	09/10/2010	26/03/2012	Active	NO
18	U72200TN2000PTC072801	YOGYA SYSTEMS PRIVATE LIMITED	Additional director	11/04/2012	11/04/2012	-	Active	NO
19	L74999MH1995PLC093797	IIFL Holdings Limited	Director	01/04/2014	01/08/2012	-	Active	NO

Name :

Mr. Neeraj Kanwar

Designation :

Director

Address :

3/3, Shanti Niketan, New Delhi – 110 021, India

Date of Birth/Age :

06.09.1971

Date of Appointment :

23.07.2008

DIN No.:

00058951

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	U74899DL1995PLC068740	TRAVEL TRACKS LIMITED	Director	14/07/1995	14/07/1995	22/02/2008	Active	NO
2	U74899DL1997PTC089677	LANDMARK FARMS AND HOUSING PRIVATE LIMITED	Director	15/09/1997	15/09/1997	12/02/2010	Active	NO
3	L25111KL1972PLC002449	APOLLO TYRES LIMITED.	Managing director	28/05/2014	28/05/1999	-	Active	NO
4	U63040KL2004PTC017537	LIBERTY INDIA TRANS TRAVEL PRIVATE LIMITED	Nominee director	19/10/2004	19/10/2004	08/03/2007	Active	YES
5	U51909DL2004PTC126821	SUNLIFE TRADE LINKS PRIVATE LIMITED	Director	20/10/2004	20/10/2004	-	Active	NO
6	U25111KL2005PLC018457	APOLLO AUTOMOTIVE TYRES LIMITED	Director	21/07/2005	21/07/2005	-	Strike off	NO
7	U25111KL2005PLC018458	APOLLO RADIAL TYRES LIMITED	Director	21/07/2005	21/07/2005	-	Strike off	NO
8	L25111KL1959PLC009300	PTL ENTERPRISES LIMITED	Director	06/12/2006	06/12/2006	-	Active	NO
9	U85110DL2004PLC126414	ARTEMIS MEDICARE SERVICES LIMITED	Director	23/07/2008	17/01/2008	-	Active	NO
10	U25110DL1975NPL234072	AUTOMOTIVE TYRE MANUFACTURERS ASSOCIATION	Director	14/01/2010	14/01/2010	04/01/2013	Active	NO

Name :

Sanjaya Baru

Designation :

Director

Address :

D-44, 3^rd Floor, Panchsheel Enclave, New Delhi – 110017, India

Date of Birth/Age :

28.05.1954

Date of Appointment :

02.08.2013

DIN No.:

05344208

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	L24230MH1999PLC120720	WOCKHARDT LIMITED	Director	13/09/2012	06/08/2012	-	Active	NO
2	U85110DL2004PLC126414	ARTEMIS MEDICARE SERVICES LIMITED	Director	02/08/2013	06/02/2013	-	Active	NO
3	U80903DL2014NPL270367	IISS INDIA ORGANISATION	Additional director	28/10/2014	28/10/2014	-	Active	NO

Name :

Mr. Naveen Kapur

Designation :

Additional Director

Address :

D-187, Ground Floor, Saket, New Delhi – 110017, India

Date of Birth/Age :

04.05.1958

Date of Appointment :

12.09.2014

DIN No.:

00024538

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	U74899DL1994PLC061080	APOLLO INTERNATIONAL LIMITED	Whole-time director	25/09/2012	20/09/2004	-	Active	NO
2	U25190DL2013PTC256064	CLASSIC RETREADING PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO
3	U85110DL2004PLC126414	ARTEMIS MEDICARE SERVICES LIMITED	Director	12/09/2014	06/11/2013	-	Active	NO
4	U33111DL2005PLC144156	ARTEMIS HEALTH SCIENCES LIMITED	Director	12/09/2014	06/11/2013	-	Active	NO
5	U74140DL2014PLC267725	APOLLO INTERNATIONAL PROEX LIMITED	Director	30/05/2014	30/05/2014	-	Active	NO

Name :

Dr. Nirmal Kumar Ganguly

Designation :

Additional Director

Address :

701, Gayatri Apartment, GH-6, Sector-45, Faridabad – 121003, Haryana, India

Date of Birth/Age :

11.11.1941

Date of Appointment :

12.09.2014

DIN No.:

03406994

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	L27100AP1989PLC010122	ZENOTECH LABORATORIES LIMITED	Director	18/01/2011	18/01/2011	06/11/2013	Active	NO
2	U85110DL2004PLC126414	ARTEMIS MEDICARE SERVICES LIMITED	Director	12/09/2014	10/02/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Navneet Goel
Designation :	Secretary
Address :	377/11, Patel Nagar, New Mandi, Muzaffarnagar, Uttar Pradesh, India
Date of Birth/Age :	09.05.1979
Date of Appointment :	14.04.2010
PAN No.:	AHPPG6518F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 12.09.2014

Names of Shareholders	No. of Shares
Rani Saxena	1
Artemis Health Sciences Limited, India	18009994
Pradeep Kumar	1
Ashish Jain	1
G.G. Gupta	1
Sanjay Mudgil	1
Seema Thapar	1
PTL Enterprises Limited, India	3025000
Total	21035000

As on 12.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of managing and operating of multi specialty hospital

Products :

Item Code No. (ITC Code)	Product Description
99931210	General Medical Services

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

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

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	Yes Bank Limited
Branch Address	9^th Floor, Nehru Centre, Discovery of India Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, 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

Banker Name	State Bank of India
Branch Address	Commercial Branch, Vankarath Towers, 1^st Floor, Bye Pass Road, Padivattom, Kochi – 682 024, Kerala, 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

Banker Name	State Bank of Mysore
Branch Address	3, 4 and 5 DDA Building, Nehru Place, New Delhi – 110019, Delhi, 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	444.224	664.381
Term loans from others	211.324	133.987
SHORT TERM BORROWINGS
Rupee term loans from banks	0.086	41.796
Total	655.634	840.164

Auditors :
Name :	S.P. Puri and Company Chartered Accountants
Address :	4/18, Asaf Ali Road, New Delhi, India
PAN No.:	AACFS2752D
Memberships :	Not Available
Collaborators :	Not Available
Ultimate Parent Company :	PTL Enterprises Limited
Holding Company :	Artemis Health Sciences Limited
Enterprises owned or significantly influenced by key management. personnel or their relatives	Apollo Tyres Limited Apollo International Limited Travel Tracks Limited Bespoke Tours and Travels Limited

CAPITAL STRUCTURE

As on 12.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
21035000	Equity Shares	Rs.10/- each	Rs.210.350 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	210.350	210.350	210.350
(b) Reserves & Surplus	1160.588	1093.522	1089.796
(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)	1370.938	1303.872	1300.146
(3) Non-Current Liabilities
(a) long-term borrowings	850.403	916.996	929.422
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	27.638	17.467	0.000
(d) long-term provisions	7.097	6.437	4.055
Total Non-current Liabilities (3)	885.138	940.900	933.477
(4) Current Liabilities
(a) Short term borrowings	0.086	41.796	67.322
(b) Trade payables	465.052	243.284	158.865
(c) Other current liabilities	408.966	340.231	394.621
(d) Short-term provisions	2.792	2.547	1.425
Total Current Liabilities (4)	876.896	627.858	622.233
TOTAL	3132.972	2872.630	2855.856
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2339.157	2363.075	2378.686
(ii) Intangible Assets	19.664	11.789	11.015
(iii) Capital work-in-progress	0.000	0.292	1.551
(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	180.005	136.570	82.339
(e) Other Non-current assets	1.857	0.100	1.220
Total Non-Current Assets	2540.683	2511.826	2474.811
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	50.708	44.115	51.589
(c) Trade receivables	290.622	236.051	230.802
(d) Cash and cash equivalents	212.782	50.319	42.023
(e) Short-term loans and advances	11.991	9.813	3.635
(f) Other current assets	26.186	20.506	52.996
Total Current Assets	592.289	360.804	381.045
TOTAL	3132.972	2872.630	2855.856

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2611.630	2170.824	1895.806
	Other Income	14.075	22.229	17.071
	TOTAL (A)	2625.705	2193.053	1912.877
Less	EXPENSES
	Cost of Materials Consumed	721.687	609.538	591.674
	Purchases of Stock-in-Trade	1.628	0.000	(7.247)
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(6.879)	8.846	0.000
	Employees benefits expense	472.090	425.100	307.245
	Other expenses	1148.318	901.057	770.086
	TOTAL (B)	2336.844	1944.541	1661.758
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	288.861	248.512	251.119
Less	FINANCIAL EXPENSES (D)	133.163	150.852	160.578
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	155.698	97.660	90.541
Less/ Add	DEPRECIATION/ AMORTISATION (F)	88.632	93.934	88.245
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	67.066	3.726	2.296
Less	TAX (H)	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	67.066	3.726	2.296
	Earnings / (Loss) Per Share (Rs.)	3.19	0.18	0.10

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.57	0.17	0.12
Operating Profit Margin (PBDIT/Sales)	(%)	11.06	11.45	13.25
Return on Total Assets (PBT/Total Assets}	(%)	2.14	0.13	0.08
Return on Investment (ROI) (PBT/Networth)		0.05	0.00	0.00
Debt Equity Ratio (Total Debt/Networth)		0.62	0.74	0.77
Current Ratio (Current Asset/Current Liability)		0.68	0.57	0.61

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	210.350	210.350	210.350
Reserves & Surplus	1089.796	1093.522	1160.588
Net worth	1300.146	1303.872	1370.938
long-term borrowings	929.422	916.996	850.403
Short term borrowings	67.322	41.796	0.086
Total borrowings	996.744	958.792	850.489
Debt/Equity ratio	0.767	0.735	0.620

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	1895.806	2170.824	2611.630
		14.507	20.306

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	1895.806	2170.824	2611.630
Profit	2.296	3.726	67.066
	0.12%	0.17%	2.57%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
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	Yes

OPERATIONS

During the year, the gross revenue of the Company increased to Rs. 2625.704 Million as compared to Rs. 2193.053 Million in the previous year, registering an impressive growth of 19.72 %. Cash profit stood at Rs 155.697 Million against previous year cash profit of Rs. 97.661 Million. The profit after tax for the year was Rs 67.065 Million against a profit after tax of Rs. 3.727 Million of the previous year. Accumulated losses as on 31^st March 2014 amounted to Rs. 671.361 Million.

The Company has continued its efforts towards improving the value proposition for its patients and general public. During the year, Artemis continued to focus on patient care and safety while achieving strategic growth and taking development initiatives across various facets of the organization. Hospital management continues to focus on good clinical outcomes through stringent medical audits, surveillance and ethical practice. Their efforts has been paid off and resulted into all round growth of the organization. However, the Company’s Dwarka unit has been a financial drain on the operations of the Company while all out efforts are being made by the management to reduce the losses and increase the revenue.

During the year, focused outreach programmes in both domestic and international markets have taken the Artemis Brand forward. The Company plans to further develop newer domestic and international avenues for growth.

FUTURE OUTLOOK

During the forthcoming year, the Company intends to achieve optimum utilization of resources and further improve the top line and bottom line of its business.

The directors are confident that their market strategy will yield favorable growth and the Company would tap newer international and domestic market. However, growing competition in the vicinity, scarcity of quality manpower, rising inflation shall be the challenges before the management towards the early recovery of accumulated losses of the Company.

The Company looks forward to a sustained healthy growth by nurturing long term committed relationship with its doctors, staff while ensuring good clinical outcomes coupled with customer delight and greater satisfaction.

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Deferred payment Indian sources	6.227	0.000
Loans and advances from others	188.628	118.628
Total	194.855	118.628

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10519772	21/07/2014	1,176,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA	C20480422
2	10514738	23/04/2014	4,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG,, LOWER PARE  L (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA	C16320343
3	10410068	10/12/2013 *	250,000,000.00	GE MONEY FINANCIAL SERVICES PRIVATE LIMITED	401 402 4TH FLOORAGGARWAL MILLENIUM TOWER, E1 2 3 NETAJI SUBHASH PLACE, PITAMPURA DELHI, DELHI - 110034, INDIA	B93331130
4	10280204	20/03/2015 *	250,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA -  400018, INDIA	C49050370
5	10054463	29/07/2008 *	640,000,000.00	STATE BANK OF MYSORE	3, 4 & 5 DDA BUILDING, NEHRU PLACE, NEW DELHI, DELHI - 110009, INDIA	A44466258
6	10036985	12/12/2012 *	570,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, VANKARATH TOWERS, 1ST FLOOR, BYE PASS ROAD, PADIVATTOM, KOCHI, KERALA - 682024,  INDIA	B65401895

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Leasehold improvements

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. 63.20
UK Pound	1	Rs. 97.00
Euro	1	Rs. 69.33

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAR
Report Prepared by :	TRU

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
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	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		48

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.