MIRA INFORM REPORT

Report No. :	355813
Report Date :	25.12.2015

IDENTIFICATION DETAILS

Name :	BHARAT BIOTECH INTERNATIONAL LIMITED
Registered Office :	Genome Valley, Turkapally, Shamirpet Mandal, Hyderabad - 500078, Telangana
Tel. No.:	91-40-27784084/ 23480567
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	15.02.1996
Com. Reg. No.:	36-023232
Capital Investment / Paid-up Capital :	Rs.150.746 Million
CIN No.: [Company Identification No.]	U24230TG1996PLC023232
IEC No.:	0997007737
TAN No.: [Tax Deduction & Collection Account No.]	HYDB00771B
PAN No.: [Permanent Account No.]	AABCB3822B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject Is a Multidimensional Biotechnology Company Specialising in Product-Oriented Research, Development and Manufacturing of Vaccines and Biotherapeutics. (Registered Activity)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 6953000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject was established in the year 1996 and it is engaged in product oriented research, development and manufacturing of vaccines and bio therapeutics. The company offers vaccines, biopharmaceuticals and hormone products. It also offers services in co-marketing and contract manufacturing. As per the audited results of FY15 the company recorded revenues of Rs.3023.800 Million and PAT of Rs.179.500 Million against Rs.2650.600 Million and Rs.185.000 Million respectively in FY14. Ratings continue to positively factor in company’s healthy financial profile characterized by favorable operating margins, comfortable capital structure and healthy debt servicing coverage indicators. Rating also takes into account of significant experience of the promoters in the vaccine industry supported by strong development capabilities witnessed through product launches in the recent past. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	ICRA
Rating	CC = A-
Rating Explanation	Adequate degree of safety and low credit risk
Date	November, 2015

Rating Agency Name	ICRA
Rating	BG = A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	November, 2015

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 31-03-2015.

LOCATIONS

Registered Office :	Genome Valley, Turkapally, Shamirpet Mandal, Hyderabad - 500078, Telangana, India
Tel. No.:	91-40-27784084/ 23480567
Fax No.:	91-40-23480560
E-Mail :	finance06@bharatbiotech.com srinivas@bharatbiotech.com subhash2329@bharatbiotech.com
Website :	http://www.bharatbiotech.com
Area :	20 acres
Location :	Owned

DIRECTORS

As on 31.03.2015

Name :

Dr. Krishna Murthy Ella

Designation :

Managing director

Address :

Bharat Biotech International Limited, Genome Valley, Shamirpet Mandal, Turkapally, Hyderabad - 500078, Telangana, India

Date of Birth/Age :

10.07.1955

Date of Appointment :

25.09.2012

PAN No.:

AACPE6389G

DIN No.:

00072071

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	U24230TG1996PLC023232	BHARAT BIOTECH INTERNATIONAL LIMITED	Managing director	25/09/2012	01/11/1996	-	Active	NO
2	U01122KA1997PTC021815	CENTURY BIOLOGICALS PRIVATE LIMITED	Director	14/02/1997	14/02/1997	-	Active	NO
3	U85110AP2002NPL039925	ELLA FOUNDATION	Director	15/11/2002	15/11/2002	-	Active	NO
4	U51219KA2005PLC035446	INNOVA AGRI BIO PARK LIMITED	Director	19/01/2005	19/01/2005	-	Active	NO
5	U24235KA2005PTC035491	BIOVET PRIVATE LIMITED	Director	27/01/2005	27/01/2005	01/12/2012	Active	NO
6	U51909MH2004PTC150142	MINDTREE TRADING COMPANY PRIVATE LIMITED	Director	21/09/2005	21/09/2005	01/12/2012	Active	NO
7	U73100TG2008PTC062147	CONRESS LABS (INDIA) PRIVATE LIMITED	Director	11/12/2008	11/12/2008	-	Active	NO
8	U24239TG2005PTC048111	RCC LABORATORIES INDIA PRIVATE LIMITED	Director	21/06/2010	12/01/2009	10/11/2011	Active	NO
9	L24110TG1991PLC012471	GRANULES INDIA LIMITED	Director	28/08/2014	04/06/2009	-	Active	NO
10	U45202OR2009PTC010902	ODISHA BIOTECH PARK PRIVATE LIMITED	Director	23/06/2009	23/06/2009	28/05/2013	Active	NO

Name :

Ms. Suchitra Ella

Designation :

Managing Director

Address :

G-1, Vamsi Sadan, Plot No.265, 266 Phase - II, Kamalapuri Colony, Hyderabad - 500073, Telangana, India

Date of Birth/Age :

15.07.1963

Date of Appointment :

25.09.2012

PAN No.:

AACPE6390B

DIN No.:

00090616

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	U24230TG1996PLC023232	BHARAT BIOTECH INTERNATIONAL LIMITED	Managing director	25/09/2012	25/10/1996	-	Active	NO
2	U01122KA1997PTC021815	CENTURY BIOLOGICALS PRIVATE LIMITED	Director	14/02/1997	14/02/1997	-	Active	NO
3	U85110AP2002NPL039925	ELLA FOUNDATION	Director	15/11/2002	15/11/2002	-	Active	NO
4	U73100KA2003PTC032309	CLINTRAC INTERNATIONAL PRIVATE LIMITED	Director	25/07/2003	25/07/2003	-	Active	NO
5	U51219KA2005PLC035446	INNOVA AGRI BIO PARK LIMITED	Director	19/01/2005	19/01/2005	-	Active	NO
6	U73100KA2008PTC046540	CLINSOFT RESEARCH AND IMAGING PRIVATE LIMITED	Director	23/05/2008	23/05/2008	-	Strike off	NO
7	U73100TG2008PTC062147	CONRESS LABS (INDIA) PRIVATE LIMITED	Director	11/12/2008	11/12/2008	-	Active	NO
8	U24239TG2005PTC048111	RCC LABORATORIES INDIA PRIVATE LIMITED	Director	21/06/2010	12/01/2009	06/09/2011	Active	NO
9	U85100TG2012NPL080040	HYDERABAD BICYCLING CLUB	Director	23/09/2013	02/06/2012	30/03/2015	Active	NO
10	U92132AP2007NPL054354	SRI VENKATESWARA BHAKTI CHANNEL	Director	09/06/2015	09/06/2015	-	Active	NO

Name :

Mr. Krishna Mohan Vadrevu

Designation :

Whole-Time Director

Address :

304 A Block Gayatri Grandeur, Plot 18/19 Vikrampuri, Secunderabad - 500099, Telangana, India

Date of Birth/Age :

17.02.1951

Date of Appointment :

28.12.2011

PAN No.:

AANPV3340D

DIN No.:

05222871

Name :

Mr. Subrahmanya Bharathi Krishnan

Designation :

Director

Address :

Flat No. JG1, Navartna, 286, Anna Street, Omr Kottivakkam, Chennai - 600041, Tamilnadu, India

Date of Birth/Age :

10.12.1940

Date of Appointment :

29.09.2004

DIN No.:

00017343

Name :

Mr. Balasubramanian Dorairajan

Designation :

Director

Address :

Kasba, H No.7-102/40, Sai Enclave, Habsiguda, Hyderabad - 500007, Telangana, India

Date of Appointment :

26.09.2015

DIN No.:

00345167

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	L24110TG1990PLC011977	VIMTA LABS LIMITED	Director	07/07/2014	12/07/2004	-	Active	NO
2	U73100TG2003NPL042023	DR.REDDY'S INSTITUTE OF LIFE SCIENCES	Director	15/12/2005	15/12/2005	-	Active	NO
3	U24230TG1996PLC023232	BHARAT BIOTECH INTERNATIONAL LIMITED	Director	26/09/2015	31/03/2015	-	Active	NO

Name :

Mr. Prathivadibhayankaram Ranganathac Rajagopalan

Designation :

Director

Address :

25 Charing Rd, Charleston, SC, 294073402, United States Of America

Date of Birth/Age :

12.10.1998

Date of Appointment :

30.09.1998

DIN No.:

03272757

Name :

Mr. Sanjeev Sehrawat

Designation :

Nominee DIRECTOR

Address :

1201, 12th Flr, Akruti Nova-A-Building, Saiwadi, N S Phadke Road, Andheri East,, Mumbai - 400069, Maharashtra, India

Date of Appointment :

20.07.2015

DIN No.:

02887484

KEY EXECUTIVES

Name :	Mr. Srinivas Tadepally
Designation :	Chief Financial Officer
Address :	104 1-1-380/D Manemma Enclave, Ashok Nagar Extn, Ashok Nagar, Hyderabad, 500020, Telangana, India
Date of Birth/Age :	10.02.1985
Date of Appointment :	06.01.2015
PAN No.:	ABXPT0100A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2015

Names of Equity Shareholders	No. of Shares
Promoters
Krishna M Ella	4595095
Suchitra Ella	716400
Public-(i) Individuals
T. Srinivas	100
T. Janaki	100
N. Sarihini Devi	90000
Sudha Sarada	175000
N P Nageswara Rao	3500
Nageswari	3500
Bhamini	3500
B R Jayalaxmi	3500
G. Amrutha	2330
D.K. Manjula	3500
Ramanjaneya	3500
Hemalatha	13448
Non-Resident India
P.R. Rajagopalan	354539
Davulur Inderjith	54014
Swarnalatha Inderjith	52575
S. Balasunder	405092
Muralidhar Reddy	54075
Venkat Ganpuru	89700
Kalavathi Batala	36000
Foreign National
Richard O Novick	4500
Body Corporate
Subhkam Ventures Private Limited, India	18889
IL and FS Trust Company Limited, India	870000
Mind Tree Trading Company Limited, India	888889
Biotech Consortia Inc., India	3312547
Foreign Banks
IFC, Washington, USA	500
Financial Institution
IDBI Trusteeship Service Limited. India Advantage Fund, India	500
Total	11755293

Names of Preference Shareholders	No. of Shares
IDBI Trusteeship Service Limited. India Advantage Fund, India	1562004
International Finance Corporation	1757317
Total	3319321

As on 29.09.2014

Category	Percentage
Venture Capital	0.01
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	37.12
Bodies corporate	15.12
Directors or relatives of Directors	45.18
Other top fifty shareholders	2.57
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject Is a Multidimensional Biotechnology Company Specialising in Product-Oriented Research, Development and Manufacturing of Vaccines and Biotherapeutics. (Registered Activity)

Products :

Item Code No.	Product Description
30068000	Pharmaceuticals

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

Bank Name	State Bank of India
Branch	MID Corporate Group, Overseas Branch, 2^nd Floor and 3^rd Floor, Rajala Centre Plot No.241/A, Jubilee Hills, Hyderabad – 400033, Telangana, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Term loan from Bank	354.917	60.235
Term loan from Banks	27.843	35.986
Short-term borrowings
Rupee Term loans from Banks	1088.731	734.135
Loans repayable on demands from banks	565.479	664.145
Total	2036.97	1494.501

Auditors :
Name :	B S R R and Company Chartered Accountants
Address :	Reliance Humsafar IV Floor, Road No 11 Banjara Hills, Hyderabad- 500034, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AAKFB1884H
Memberships :	--
Collaborators :	--
Subsidiaries :	Ella Foundation, India (U85110AP2002NPL039925)

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 Million
4000000	Preference Shares	Rs.10/- each	Rs.40.000 Million
	Total		Rs.160.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11755293	Equity Shares	Rs.10/- each	Rs.117.553 Million
3319321	Preference Shares	Rs.10/- each	Rs.33.193 Million
	Total		Rs.150.746 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	150.746	150.746	150.746
(b) Reserves & Surplus	2282.739	2106.645	1922.365
(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)	2433.485	2257.391	2073.111
(3) Non-Current Liabilities
(a) long-term borrowings	500.203	235.562	440.323
(b) Deferred tax liabilities (Net)	252.400	203.031	143.466
(c) Other long term liabilities	15.185	18.580	20.820
(d) long-term provisions	25.854	5.738	2.241
Total Non-current Liabilities (3)	793.642	462.911	606.850
(4) Current Liabilities
(a) Short term borrowings	1654.210	1398.280	712.167
(b) Trade payables	74.271	71.785	92.303
(c) Other current liabilities	364.544	426.916	413.362
(d) Short-term provisions	47.158	52.269	3.616
Total Current Liabilities (4)	2140.183	1949.250	1221.448
TOTAL	5367.310	4669.552	3901.409
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1452.914	1705.744	1351.226
(ii) Intangible Assets	106.443	121.635	26.807
(iii) Capital work-in-progress	526.617	33.856	148.984
(iv) Intangible assets under development	579.292	416.426	460.515
(b) Non-current Investments	0.473	0.473	0.473
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	61.532	147.135	164.934
(e) Other Non-current assets	40.238	17.753	7.753
Total Non-Current Assets	2767.509	2443.022	2160.692
(2) Current assets
(a) Current investments	0.000	0.000	80.000
(b) Inventories	2113.701	1889.857	1330.966
(c) Trade receivables	205.765	234.772	138.802
(d) Cash and cash equivalents	188.495	38.572	141.885
(e) Short-term loans and advances	70.384	37.780	45.914
(f) Other current assets	21.456	25.549	3.150
Total Current Assets	2599.801	2226.530	1740.717
TOTAL	5367.310	4669.552	3901.409

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	3023.818	2650.558	2962.069
	Other Income	33.820	23.754	29.188
	TOTAL (A)	3057.638	2674.312	2991.257
Less	EXPENSES
	Cost of Materials Consumed	1735.650	1587.899	1326.227
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(437.905)	(545.725)	281.808
	Employees benefits expense	291.381	217.976	141.670
	Other expenses	701.477	745.036	586.964
	TOTAL (B)	2290.603	2005.186	2336.669
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	767.035	669.126	654.588
Less	FINANCIAL EXPENSES (D)	163.012	142.711	126.500
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	604.023	526.415	528.088
Less/ Add	DEPRECIATION/ AMORTISATION (F)	289.079	202.885	252.978
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	314.944	323.530	275.110
Less	TAX (H)	135.447	138.863	82.850
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	179.497	184.667	192.260
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	238.430	301.908	170.879
	TOTAL EARNINGS	238.430	301.908	170.879
	Earnings / (Loss) Per Share (Rs.)
	Basic	15.23	15.81	16.60
	Diluted	11.91	12.33	12.75

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	107.753	211.192	218.676
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	574.882	(10.088)	529.841
Net cash flow from operating activity	477.127	(26.873)	416.644

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	5.94	6.97	6.49
Operating Profit Margin (PBIDT/Sales)	(%)	25.37	25.24	22.10
Return on Total Assets (PBT/Total Assets}	(%)	7.39	7.67	8.36
Return on Investment (ROI) (PBT/Networth)		0.13	0.14	0.13
Debt Equity Ratio (Total Debt /Networth)		0.93	0.82	0.66
Current Ratio (Current Asset/Current Liability)		1.21	1.14	1.43

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	150.746	150.746	150.746
Reserves & Surplus	1922.365	2106.645	2282.739
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2073.111	2257.391	2433.485
long-term borrowings	440.323	235.562	500.203
Short term borrowings	712.167	1398.280	1654.210
Current Maturities of Long-Term Debts	218.676	211.192	107.753
Total borrowings	1371.166	1845.034	2262.166
Debt/Equity ratio	0.661	0.817	0.930

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2962.069	2650.558	3023.818
		(10.517)	14.082

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2962.069	2650.558	3023.818
Profit	192.260	184.667	179.497
	6.49%	6.97%	5.94%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	Yes
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS :

CASE STATUS INFORMATION SYSTEM

ITTA 340 / 2015 ITTASR 4110 / 2014 CASE IS : PENDING

PETITIONER	RESPONDENT
THE COMMR OF INCOME-TAX-I, HYDERABAD	M/S BHARAT BIOTECH INTERNATIONAL LIMITED, RANGA REDDY DISTRICT
PET.ADV: PRADAD (SC FOR INCOME TAX)	RESP.ADV:
SUBJECT: U/Sec.143 Assessment	DISTRICT: HYDERABAD
FILING DATE: 01-11-2014 POSTING STAGE: FOR ADMISSION REG.DATE : 17-07-2015 LISTING DATE: 09-12-2015 STATUS:-------- HON’BLE JUDGE(S) G.CHANDRAIAH U.DURGA PRADAD RAO

COMPANY OVERVIEW

The Company was incorporated on 15 February 1996 as a closely held public limited company in Hyderabad, India. The Company is a multidimensional biotechnology Company specialising in product-oriented research, development and manufacturing of vaccines and biotherapeutics.

UNSECURED LOAN

PARTICULARS	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Rupee Term loans from Others	58.979	75.096
Deferred sales tax loan	58.464	64.245
Total	117.443	139.341

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10515093	05/03/2015 *	500,000,000.00	HDFC BANK LIMITED	Emerging Corporate Group, 1- 10 - 60/3, 4th floor,  Suryodaya, Begumpet, Hyderabad, Telangana - 500016, INDIA	C47732219
2	10416183	28/03/2013	250,000,000.00	Citibank N.A	1st Floor, Queens Plaza, Sardar Patel Road, Hyderabad, Andhra Pradesh - 500003, INDIA	B71924831
3	10198537	26/12/2009	39,339,000.00	DEPARTMENT OF BIOTECHNOLOGY GOVERNMENT OF INDIA	BLOCK 2, CGO COMPLEX, LODHI ROAD, NEW DELHI, Delhi - 110003, INDIA	A77778579
4	10058499	15/06/2007	109,000,000.00	TECHNOLOGY DEVELOPMENT BOARD	WING A ( GROUND FLOOR), VISHWAKARMA BHAVAN, SHAHE  ED JEET SINGH MARG, NEW DELHI, Delhi - 110067, INDIA	A18259887
5	90124049	19/06/2014 *	2,110,000,000.00	State Bank of India	Overseas Branch 2nd and 3rd Floor, Rajala Centre Plot No. 241/A, Jubilee Hills, Hyderabad, Telangana - 500033, INDIA	C08824344
6	90121193	07/04/1998	5,000,000.00	CENTRE FOR TACHNOLOGY DEVELOPMENT	CSIC COMPLEX 2SC CANOYS, POST BOX NO 1209, BANGLO  RE, Karnataka, INDIA	-

FIXED ASSETS

• Land
• Buildings
• Office building
• Factory equipments
• Furniture and fixtures
• Other plant and equipment
• Furniture and fixtures
• Vehicles
• Motor vehicles
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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.66.13
UK Pound	1	Rs.98.69
Euro	1	Rs.72.55

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		54

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.