MIRA INFORM REPORT

Report No. :	305986
Report Date :	04.02.2015

IDENTIFICATION DETAILS

Name :	MICROPURE PARENTERALS PRIVATE LIMITED
Registered Office :	Flat No 577, Building No 20, Neha Co-operative Housing Society Limited, Nehru Nagar, Kurla (East), Mumbai – 400024, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	22.07.1994
Com. Reg. No.:	11-079789
Capital Investment / Paid-up Capital :	Rs.5.000 Millions
CIN No.: [Company Identification No.]	U24239MH1994PTC079789
TAN No.: [Tax Deduction & Collection Account No.]	MUMM09705D
PAN No.: [Permanent Account No.]	AACCM0174C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and supplier of pharma medicines, antibiotic, antibiotic medicines.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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 ab established company having satisfactory track record. General financial position of the company seems to be sound and healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

EXTERNAL AGENCY RATING

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 :	Ms. Kalpana Jain
Designation :	Managing Director
Contact No.:	91-22-25232098
Date :	31.01.2015

LOCATIONS

Registered Office :	Flat No 577, Building No 20, Neha Co-operative Housing Society Limited, Nehru Nagar, Kurla (East), Mumbai – 400024, Maharashtra, India
Tel. No.:	91-22-25232098
Fax No.:	91-22-25232038
E-Mail :	micropure_wada@yahoo.co.in
Factory :	Plot No.136, Village-Neharoll, Taluka-Wada, Thane – 421312, Maharashtra, India
Tel. No.:	952526-239064 / 239139
Fax No.:	952526-239064

DIRECTORS

AS ON 30.09.2014

Name :	Ms. Kalpana Bhikham Chand Jain
Designation :	Managing Director
Address :	Room No 302, 3 Road Floor, Runwal Residency, D K Sandhu, Road, Chembur, Mumbai - 400071, Maharashtra, India
Date of Birth/Age :	23.01.1959
Date of Appointment :	22.07.1994
DIN No.:	00333990
Name :	Ms. Dipti Kothari
Designation :	Director
Address :	Room No 302, 3 Road Floor, Runwal Residency, D K Sandhu, Road, Chembur, Mumbai - 400071, Maharashtra, India
Date of Birth/Age :	12.05.1982
Date of Appointment :	12.02.2003
DIN No.:	02411325
Name :	Mr. Sudhir Manoharsingh Mehta
Designation :	Director
Address :	E 601,Runwal Centre, Adtto, Lakme Limited, Deonar, Mumbai - 400088, Maharashtra, India
Date of Birth/Age :	06.11.1969
Date of Appointment :	30.09.2006
DIN No.:	02414642

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Equity Shareholders	No. of Shares
Kalpana Bhikhamchand Jain	224900
Dipti Bhikhamchand Jain	60100
Manoharsigh Nathusingh Mehta	60000
Padma Manoharsingh Mehta	54800
Mahendra M. Mehta	100
Ajaykumar M Jain	100
Total	400000

Names of Preference Shareholders	No. of Shares
Sudhir Manoharsingh Mehta	30000
Mitali Sudhir Mehta	20000
Ramlakhan B. Panday	20000
Ajay Manoharmal Jain	30000
Total	100000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and supplier of pharma medicines, antibiotic, antibiotic medicines.
Products :	· Pharma Medicines · Antibiotic · Antibiotic Medicines · Pantoprazole Tablets · Cetirizine Tablets · Tinidazole Tablets · Ciprofloxacin Tablets
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	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 :

Company Name :	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 :

Canara Bank, Kurla (East) Branch, Nehru Nagar, Kurla (East), Mumbai - 400024, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
Long Term Borrowings
Vehicle loan from bank	0.771	1.415
Short Term Borrowings
Loans repayable on demand	7.312	14.543
Total	8.083	15.958

Banking Relations :	--
Auditors :
Name :	Arora and Arora Chartered Accountants
Address :	105, Kadamgiri Apartments, Hanuman Road, Vile Parle East, Mumbai – 400057, Maharashtra, India
PAN No.:	AABFA2147F
Membership :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.10/- each	Rs.4.000 Millions
100000	Preference Shares	Rs.10/- each	Rs.1.000 Million
	Total		Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.10/- each	Rs.4.000 Millions
100000	Preference Shares	Rs.10/- each	Rs.1.000 Million
	Total		Rs.5.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	5.000	5.000	5.000
(b) Reserves & Surplus	38.256	35.607	33.236
(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)	43.256	40.607	38.236
(3) Non-Current Liabilities
(a) long-term borrowings	0.771	1.415	1.480
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.771	1.415	1.480
(4) Current Liabilities
(a) Short term borrowings	28.412	33.643	16.063
(b) Trade payables	144.963	144.414	58.139
(c) Other current liabilities	2.743	1.855	2.035
(d) Short-term provisions	4.686	4.224	3.909
Total Current Liabilities (4)	180.804	184.136	80.146
TOTAL	224.831	226.158	119.862
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	24.105	26.570	28.383
(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	0.375	0.375	0.375
(c) Deferred tax assets (net)	1.640	1.427	1.309
(d) Long-term Loan and Advances	0.464	0.464	0.464
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	26.584	28.836	30.531
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	56.141	32.032	21.626
(c) Trade receivables	64.087	94.855	23.845
(d) Cash and cash equivalents	7.832	8.856	0.817
(e) Short-term loans and advances	70.068	61.497	42.998
(f) Other current assets	0.119	0.082	0.045
Total Current Assets	198.247	197.322	89.331
TOTAL	224.831	226.158	119.862

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL INCOME	264.760	278.326	154.091
Less	EXPENSES	260.956	274.993	153.873
	PROFIT/(LOSS) BEFORE TAX	3.804	3.333	0.218
Less	TAX	1.155	0.962	0.062
	PROFIT/(LOSS) AFTER TAX	2.649	2.371	0.156
	CIF value of Imports-Purchase of Capital Goods	0.000	0.847	--
	Earnings Per Share (Rs.)	6.62	5.93	--

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	1.71	1.49	0.18
Return on Investment (ROI) (PBT/Networth)		0.09	0.08	0.01
Debt Equity Ratio (Total Debt /Networth)		0.67	0.86	0.46
Current Ratio (Current Asset/Current Liability)		1.10	1.07	1.11

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	5.000	5.000	5.000
Reserves & Surplus	33.236	35.607	38.256
Net worth	38.236	40.607	43.256
long-term borrowings	1.480	1.415	0.771
Short term borrowings	16.063	33.643	28.412
Total borrowings	17.543	35.058	29.183
Debt/Equity ratio	0.459	0.863	0.675

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	154.091	278.326	264.760
		80.624	(4.874)

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	154.091	278.326	264.760
Profit	0.156	2.371	2.649
	0.10%	0.85%	1.00%

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Rs. In Millions

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Current maturities of long term debt	0.645	0.709	0.660

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
Short Term Borrowings
Loans repayable on demand from others – Directors and Shareholders	21.100	19.100
Total	21.100	19.100

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10211503	17/03/2010	17,500,000.00	Canara Bank	Kurla (East) Branch, Nehru Nagar, Kurla (East), Mumbai, Maharashtra - 400024, India	A82678897

FIXED ASSETS:

· Free hold Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipment

· Computer

· Vehicles

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.61.74
UK Pound	1	Rs.92.71
Euro	1	Rs.69.94

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	KAR
Report Prepared by :	NKT

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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.