MIRA INFORM REPORT

Report No. :	307620
Report Date :	11.02.2015

IDENTIFICATION DETAILS

Name :	ANAGHA PHARMA PRIVATE LIMITED (w.e.f 23.12.2008) SAVA HEALTHCARE LIMITED AMALGAMATED WITH ANAGHA PHARMA PRIVATE LIMITED
Formerly Known As :	ANAGHA INTERTRADE SERVICES PRIVATE LIMITED
Registered Office :	Shed No.508, GIDC 2, Wadhawan City, District Surendranagar – 363035, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	25.10.2004
Com. Reg. No.:	04-074963
Capital Investment / Paid-up Capital :	Rs. 3.000 Millions
CIN No.: [Company Identification No.]	U51397GJ2004PTC074963
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of Pharmaceutical Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 1400000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a part of Sava group. It is an established company having a satisfactory track record. Management of the company has failed to file its latest financial for the year 2014 with the Government Department. As per available financial of 2013, there seems dip in the profit of the company. However, general financial position of the company appears to be decent. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution. Note : As claimed by Mr. Rahul (Finance Manager) that the “Sava Healthcare Limited” is amalgamated with “Anagha Pharma Private Limited” on December 2014. Further he also claimed that in future Anagha Pharma Private Limited will change its name to “Sava Healthcare Limited”

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- (Suspended)
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	18.03.2014

Rating Agency Name	CARE
Rating	Short term bank facilities = A3 (Suspended)
Rating Explanation	Have moderate degree of safety and carry high credit risk.
Date	18.03.2014

Reason for Suspension = The rating have been suspended as the company has not furnished the information required by CARE for monitoring of the ratings.

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.

LOCATIONS

Registered Office/ Factory 1 :	Shed No.508, GIDC 2, Wadhawan City, District Surendranagar – 363035, Gujarat, India
Tel. No.:	91-20-30516100
Fax No.:	91-2030516161
E-Mail :	pratiksha.talathi@savaglobal.com hiten_parikh@hotmail.com biodeal_ad1@sancharnet.in csdoshiac@gmail.com kamlesh.thakore@savaglobal.com anand.choudhary@savaglobal.com
Website :	http://www.savaglobal.com
Corporate Office :	SACA House, Off New Airport Road, Viman Nagar, Pune – 411014, Maharashtra, India
Warehouse :	1^st Floor, Old Property No. 1524, New 02/546, New Gat no. 1354, Wagholi, Taluka Haveli, Pune – 412207, Maharashtra, India
E-Mail :	sales@savaglobal.com

DIRECTORS

As on 13.09.2013

Name :

Mr. Vinod Ramchandra Jadhav

Designation :

Managing Director

Address :

Plot No.7, Windsor Estate, S. No.17/2B, Near Bishop School, Vadgaon Sheri, Pune – 411014, Maharashtra, India

Date of Birth/Age :

21.02.1972

Qualification :

Diploma in Engineering

Date of Appointment :

25.10.2004

PAN No. :

AANPJ0592P

DIN No.:

00022790

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	U51397GJ2004PTC074963	ANAGHA PHARMA PRIVATE LIMITED	Director	25/10/2004	25/10/2004	-	Active	NO
2	U72900GJ2009PTC074961	SAVA PRIVATE LIMITED	Director	17/09/2009	17/09/2009	-	Amalgamated	NO
3	U74999PN2010PLC135514	SAVA MEDICA LIMITED	Director	11/05/2013	10/02/2010	-	Active	NO
4	U24231GJ1989PLC011921	SAVA HEALTHCARE LIMITED	Director	11/05/2013	25/10/2010	-	Amalgamated	NO
5	U85110KA2000PTC027824	GANGAGEN BIOTECHNOLOGIES PRIVATE LIMITED	Director	28/06/2013	11/10/2011	-	Active	NO
6	U74900PN2011PLC141236	SAVA BioPharm Limited	Director	02/11/2011	02/11/2011	-	Strike off	NO
7	U72900PN2012PTC144479	FirstPage Web Technologies Private Limited	Director	23/08/2012	23/08/2012	-	Active	NO
8	U93000PN2012PTC143217	NAVIGENE GENETIC SCIENCE PRIVATE LIMITED	Director	29/10/2013	01/10/2012	-	Active	NO
9	U72900MH2008PLC179860	DEVTECH M2M LIMITED	Director	18/10/2014	06/08/2014	-	Active	NO

Name :

Mr. Vishal Ramchandra Jadhav

Designation :

Director

Address :

C-1/101, Lunkad Queens Land, Viman Nagar, Pune – 411014, Maharashtra, India

Date of Birth/Age :

31.01.1977

Qualification :

B. Com

Date of Appointment :

13.09.2013

PAN No.:

AGMPJ5005A

DIN No. :

05235986

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	U24231GJ1989PLC011921	SAVA HEALTHCARE LIMITED	Director	29/09/2012	27/02/2012	-	Amalgamated	NO
2	U74900PN2011PLC141236	SAVA BioPharm Limited	Additional director	18/09/2012	18/09/2012	-	Strike off	NO
3	U74999PN2010PLC135514	SAVA MEDICA LIMITED	Director	29/09/2012	18/09/2012	-	Active	NO
4	U51397GJ2004PTC074963	ANAGHA PHARMA PRIVATE LIMITED	Director	13/09/2013	19/02/2013	-	Active	NO
5	U72900GJ2009PTC074961	SAVA PRIVATE LIMITED	Director	13/09/2013	19/02/2013	-	Amalgamated	NO
6	U72900PN2012PTC144479	FirstPage Web Technologies Private Limited	Director	16/12/2013	11/05/2013	-	Active	NO
7	U72900MH2008PLC179860	DEVTECH M2M LIMITED	Director	18/10/2014	17/10/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Devesh Tudekar
Designation :	Company Secretary
Address :	A-5, Snehal Classique, Bhawakar Bhavan Lane, Shivaji Nagar, Pune – 411005, Maharashtra, India
Tel. No :	91-20-25537599
Mobile No. :	91-9923202404
Email :	tudekar@gmail.com

MAJOR SHAREHOLDERS

As on 13.09.2013

Names of Shareholders	No. of Shares
Vinod Ramchandra Jadhav	14998
Suvarna Vinod Jadhav	15000
Hanmantrao Ramdas Gaikwad	1
Vaishali Hanmantrao Gaikwad	1
Total	30000

As on 13.09.2013

Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading of Pharmaceutical Products.
Products :	Not Available
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
Experience :	Not Available
Maximum Limit Dealt :	Not Available

Customers :

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

No. of Employees :

Not Available

Bankers :

• Standard Chartered Bank, B-2, Cerelerum IT Park, Kumar City, Vadgaon Sheri, Kalyani Nagar, Pune – 411014, Maharashtra, India

• UCO Bank, MID Corporate Branch, Mumbai - Pune Road, Pimpri, Pune - 411018, Maharashtra, India

• ICICI Bank

• Kotak Mahindra Bank

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Term loan
From Banks	58.516	35.746
SHORT TERM BORROWING
Cash credit from Yes Bank Limited	9.700	9.142
PCFC HDFC Bank Loan	28.474	0.000
Total	96.690	44.888

Auditors :
Name :	MZSK and Associates Chartered Accountants
Address :	Business Bay, Level 3, Plot No. 84, Wellesley Road, Near RTO(Sangam Bridge), Pune – 411001, Maharashtra, India
Website :	www.mzsk.in
PAN No.:	AACFK3470E
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries (As on 31.03.2013):	Sava Medica Limited CIN No.: U74999PN2010PLC135514 Sava Healthcare Limited CIN No.: U24231GJ1989PLC011921 Sava Private Limited CIN No.: U72900GJ2009PTC074961 First Page Web Technologies Private Limited CIN No.: U72900PN2012PTC144479 Sava Intertrade Fze( Formerly Known As Goldwings Trading Fze)

CAPITAL STRUCTURE

As on 13.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	Rs.100/- each	Rs. 3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	Rs.100/- each	Rs. 3.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	3.000	3.000	3.000
(b) Reserves & Surplus	496.497	415.165	100.648
(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)	499.497	418.165	103.648
(3) Non-Current Liabilities
(a) long-term borrowings	294.700	219.672	58.280
(b) Deferred tax liabilities (Net)	0.000	0.000	0.878
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.949	0.000	0.000
Total Non-current Liabilities (3)	296.649	219.672	59.158
(4) Current Liabilities
(a) Short term borrowings	38.174	9.142	0.160
(b) Trade payables	34.944	19.516	20.505
(c) Other current liabilities	40.766	23.738	0.911
(d) Short-term provisions	27.345	4.547	28.547
Total Current Liabilities (4)	141.229	56.943	50.123
TOTAL	937.375	694.780	212.929
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	38.774	42.830	36.790
(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	407.844	338.533	20.349
(c) Deferred tax assets (net)	2.016	-0.958	0.000
(d) Long-term Loan and Advances	303.121	154.532	59.509
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	751.755	534.937	116.648
(2) Current assets
(a) Current investments	22.301	59.783	41.441
(b) Inventories	31.699	29.768	8.446
(c) Trade receivables	32.663	0.514	0.056
(d) Cash and cash equivalents	12.074	26.848	14.950
(e) Short-term loans and advances	79.504	33.473	0.138
(f) Other current assets	7.379	9.457	31.250
Total Current Assets	185.620	159.843	96.281
TOTAL	937.375	694.780	212.929

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	287.376	337.539	226.879
	Other Income	70.646	337.976	12.555
	TOTAL	358.022	675.515	239.434
Less	TOTAL EXPENSES	252.665	288.072	212.396
	PROFIT/ (LOSS) BEFORE TAX	105.357	387.447	27.563
Less	TAX	24.026	72.930	8.844
	PROFIT/ (LOSS) AFTER TAX	81.331	314.517	18.719
	EARNINGS IN FOREIGN CURRENCY	343.928	669.176	0.000
	Earnings / (Loss) Per Share (Rs.)	2711.03	10483.90	623.97

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	28.30	93.18	8.25
Return on Total Assets (PBT/Total Assets}	(%)	19.97	108.47	14.31
Return on Investment (ROI) (PBT/Networth)		0.21	0.93	0.27
Debt Equity Ratio (Total Debt /Networth)		0.67	0.55	0.56
Current Ratio (Current Asset/Current Liability)		1.31	2.81	1.92

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	3.000	3.000	3.000
Reserves & Surplus	100.648	415.165	496.497
Net worth	103.648	418.165	499.497
long-term borrowings	58.280	219.672	294.700
Short term borrowings	0.160	9.142	38.174
Total borrowings	58.440	228.814	332.874
Debt/Equity ratio	0.564	0.547	0.666

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	226.879	337.539	287.376
		48.775	(14.861)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	226.879	337.539	287.376
Profit	18.719	314.517	81.331
	8.25%	93.18%	28.30%

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	No
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	Yes

Note:

Registered office of the company has been shifted from Sava House, 3rd Floor, Lalwani Plaza, Wing B, Sakorenagar CHS, Off New Airport Road, Viman Nagar Pune - 411014, Maharashtra, India to the present address w.e.f.15.04.2013

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
From Related Parties	236.184	183.926
Total	236.184	183.926

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10434194	29/05/2013	110,000,000.00	UCO BANK	MID CORPORATE BRANCH, MUMBAI - PUNE ROAD, PIMPRI, PUNE, Maharashtra - 411018, INDIA	B78442209
2	10434201	31/05/2013 *	110,000,000.00	UCO BANK	MID CORPORATE BRANCH, MUMBAI - PUNE ROAD, PIMPRI, PUNE, Maharashtra - 411018, INDIA	B79444048
3	10401098	30/01/2013	53,700,000.00	Standard Chartered Bank	B-2, CERELERUM IT PARK, KUMAR CITY, VADGAON SHERI , KALYANI NAGAR, PUNE, Maharashtra- 411014, INDIA	B67277459

* Date of charge modification

FIXED ASSETS

• Air conditioner
• Computer
• Electric Fitting
• Fire Guard
• Furniture
• Inverter
• Office Building
• Office Equipment
• Vehicle

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.61.96
UK Pound	1	Rs.94.41
Euro	1	Rs.70.20

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	ART

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	3
--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		43

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.