MIRA INFORM REPORT

Report No. :	332094
Report Date :	22.07.2015

IDENTIFICATION DETAILS

Name :	WOCKHARDT HOSPITALS LIMITED (W.E.F. 19.10.2000)
Formerly Known As :	FIRST WOCKHARDT AND HEART INSTITUTE LIMITED WOCKHARDT HEALTH SCIENCES LIMITED (W.E.F. 28.08.1991)
Registered Office :	Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai- 400051, Maharashtra
Tel. No.:	91-22-26534444
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.08.1991
Com. Reg. No.:	11-063096
Capital Investment / Paid-up Capital :	Rs.793.509 Million
CIN No.: [Company Identification No.]	U85100MH1991PLC063096
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACW3342G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is Primarily engaged in Hospital Business.
No. of Employees :	Not Available

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

Maximum Credit Limit :	USD 12000000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company incorporated during the year 1991 having a satisfactory track. The company is continuously incurring losses from its operational activities. However, the company possesses an acceptable financial profile marked by strong networth position of the company with low borrowings recorded. Trade relation are reported as fair. Business is active. Payment terms are reported as slow but correct. In view of experienced promoters, the company can be considered for business dealings at usual trade terms and conditions with slight caution.

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

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 31-03-2013.

LOCATIONS

Registered Office :	Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai- 400051, Maharashtra, India
Tel. No.:	91-22-26534444
Fax No.:	91-22-26534242
E-Mail :	viralj@wockhardt.com ndatar@wockhardt.com
Website :	www.wockhardhospitals.net
Branches :	Located at: Bhavnagar South Mumbai Nagpur Heart Hospital Nagpur Super Specialty Nashik Rajkot Surat Vashi

DIRECTORS

As on 30.09.2014

Name :

Zahabiya Habil Khorakiwala

Designation :

Managing Director

Address :

Casa Khorakiwala, 31E Vakil Lane, Dr. Gopalrao Deshmukh Marg, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

16.09.1982

Date of Appointment :

01.12.2010

DIN No.:

00102689

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	U70100MH1995PTC091167	YURT ESTATE DEVELOPMENT PRIVATE LIMITED	Director	10/11/2004	10/11/2004	07/01/2013	Active	NO
2	U70100MH1995PTC089294	DENARIUS ESTATE DEVELOPMENT PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
3	U70200MH1995PTC091315	AMADOU ESTATE DEVELOPMENT PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
4	U45200MH1993PTC074015	SHRAVAN CONSTRUCTIONS PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
5	U24239MH1958PLC011204	MERIND LIMITED	Director	30/09/2010	31/03/2010	-	Active	NO
6	U85110MH2001PLC133110	WOCKHARDT MAHARASHTRA HOSPITAL LIMITED	Director	21/09/2010	31/03/2010	-	Strike off	NO
7	U85100MH1991PLC063096	WOCKHARDT HOSPITALS LIMITED	Managing director	01/12/2010	31/03/2010	-	Active	NO
8	U73100MH1985NPL134121	KHORAKIWALA FOUNDATION	Director	29/09/2011	01/12/2010	-	Active	NO
9	U74120MH2013PTC240433	GENISTA TRADING AND SERVICES PRIVATE LIMITED	Director	24/04/2014	24/04/2014	-	Active	NO
10	AAB-3838	HZ TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO
11	AAB-3839	HNZ TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO

Name :

Habil Fakhruddin Khorakiwala

Designation :

Director

Address :

Casa Khorakiwala, 31E,Vakil Lane, Dr. Gopal Rao Deshmukh Marg, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

22.09.1942

Date of Appointment :

28.08.1991

DIN No.:

00045608

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	U73100MH1985NPL134121	KHORAKIWALA FOUNDATION	Director	24/04/1985	24/04/1985	-	Active	NO
2	U85100MH1991PLC063096	WOCKHARDT HOSPITALS LIMITED	Director	28/08/1991	28/08/1991	-	Active	NO
3	U99999DL1956NPL002635	FEDERATION OF INDIAN CHAMBER OF COMMERCE AND INDUSTRY.	Director	19/09/1998	19/09/1998	-	Active	NO
4	L24230MH1999PLC120720	WOCKHARDT LIMITED	Whole-time director	01/03/2015	08/07/1999	-	Active	NO
5	U67120MH1983PTC031217	PALANPUR HOLDINGS AND INVESTMENTS CO PRIVATE LTD	Director	25/11/2002	25/11/2002	-	Active	NO
6	U67120MH1981PTC023803	KHORAKIWALA HOLDINGS AND INVESTMENTS PRIVATE LIMITED	Director	28/12/2002	28/12/2002	-	Active	NO
7	U51909MH2004PTC143952	DARTMOUR HOLDINGS PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
8	L72200MH1987PLC045205	Datamatics Global Services Limited	Director	08/12/2005	08/12/2005	12/11/2013	Active	NO
9	U74120MH2013PTC240433	GENISTA TRADING AND SERVICES PRIVATE LIMITED	Director	13/02/2013	13/02/2013	-	Active	NO
10	U74120MH2013PTC242633	Impala Advisory Services Private Limited	Director	29/04/2013	29/04/2013	-	Active	NO
11	U74999MH2013PTC242632	Sinope Advisory Services Private Limited	Director	29/04/2013	29/04/2013	-	Active	NO
12	U74999MH2013PTC242611	Kendo Advisory Services Private Limited	Director	29/04/2013	29/04/2013	-	Active	NO
13	U74999MH2013PTC242675	Step Forward Advisory Services Private Limited	Director	30/04/2013	30/04/2013	-	Active	NO
14	U74120MH2013PTC243736	Callirhoe Trustee Company Private Limited	Director	28/05/2013	28/05/2013	-	Active	NO
15	U74999MH2013PTC243906	Pasithee Trustee Company Private Limited	Director	01/06/2013	01/06/2013	-	Active	NO
16	U74900MH2013PTC243903	Ananke Trustee Company Private Limited	Director	01/06/2013	01/06/2013	-	Active	NO
17	U74999MH2013PTC243902	Themisto Trustee Company Private Limited	Director	01/06/2013	01/06/2013	-	Active	NO
18	U74900MH2013PTC246111	Megaclite Trading Private Limited	Director	24/07/2013	24/07/2013	-	Active	NO
19	U85100MH2013NPL248512	Habil Khorakiwala Foundation	Director	24/09/2013	24/09/2013	-	Active	NO
20	AAB-3836	LYSITHEA TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO
21	AAB-3837	AMALTHEA TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO
22	AAB-3838	HZ TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO
23	AAB-3839	HNZ TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO
24	AAB-3841	ADRASTEA TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO
25	AAB-3853	HELIKE TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO

Name :

Murtaza Habil Khorakiwala

Designation :

Director

Address :

Casa Khorakiwala,, 31E, Vakil Lane, Dr. Gopal Rao Deshmukh Marg, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

07.09.1972

Date of Appointment :

30.09.2009

DIN No.:

00102650

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	U70100MH1995PTC091167	YURT ESTATE DEVELOPMENT PRIVATE LIMITED	Director	10/11/2004	10/11/2004	07/01/2013	Active	NO
2	U67120MH1981PTC023803	KHORAKIWALA HOLDINGS AND INVESTMENTS PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
3	U67120MH1983PTC031217	PALANPUR HOLDINGS AND INVESTMENTS CO PRIVATE LTD	Director	10/11/2004	10/11/2004	-	Active	NO
4	U70100MH1995PTC089294	DENARIUS ESTATE DEVELOPMENT PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
5	U70200MH1995PTC091315	AMADOU ESTATE DEVELOPMENT PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
6	U45200MH1993PTC074015	SHRAVAN CONSTRUCTIONS PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
7	U73100MH1985NPL134121	KHORAKIWALA FOUNDATION	Director	10/11/2004	10/11/2004	-	Active	NO
8	U24230MH1991PLC060162	WOCKHARDT INFRASTRUCTURE DEVELOPMENT LIMITED	Director	09/06/2006	09/06/2006	-	Active	NO
9	U51909MH2004PTC143952	DARTMOUR HOLDINGS PRIVATE LIMITED	Director	09/11/2006	09/11/2006	-	Active	NO
10	L24230MH1999PLC120720	WOCKHARDT LIMITED	Managing director	31/03/2014	31/03/2009	-	Active	NO
11	U85100MH1991PLC063096	WOCKHARDT HOSPITALS LIMITED	Director	30/09/2009	06/04/2009	-	Active	NO
12	U24230MH1996PLC097019	WOCKHARDT BIOPHARM LIMITED	Director	17/09/2010	31/03/2010	-	Amalgamated	NO
13	U15204MH1995PLC260333	VINTON HEALTHCARE LIMITED	Director	11/09/2012	07/12/2011	-	Amalgamated	NO
14	AAB-3836	LYSITHEA TRADING & SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO
15	AAB-3841	ADRASTEA TRADING & SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO

Name :

Huzaifa Habil Khorakiwala

Designation :

Director

Address :

Casa Khorakiwala, 31-E, Vakil Lane, Off Peddar Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

04.11.1970

Date of Appointment :

30.09.2009

DIN No.:

02191870

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	Whole-time director	31/03/2014	31/03/2009	-	Active	NO
2	U85100MH1991PLC063096	WOCKHARDT HOSPITALS LIMITED	Director	30/09/2009	06/04/2009	-	Active	NO
3	U15400MH2010PTC200511	PRIDE INDIA CONFECTIONERS PRIVATE LIMITED	Director	02/03/2010	02/03/2010	03/01/2011	Active	NO
4	U24239MH1958PLC011204	MERIND LIMITED	Director	30/09/2010	31/03/2010	-	Active	NO
5	U85110MH2001PLC133110	WOCKHARDT MAHARASHTRA HOSPITAL LIMITED	Director	21/09/2010	31/03/2010	-	Strike off	NO
6	U55204MH2011PTC212714	INSPIRATION CAFEE PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Strike off	NO
7	U74999MH2012PTC232351	7 PEACE VALUES PRIVATE LIMITED	Director	18/06/2012	18/06/2012	-	Active	NO
8	U67100KA2012PLC064805	QF ASSETS LIMITED	Director	01/01/2013	01/01/2013	27/07/2013	Active	NO
9	U74900MH2013NPL243117	Peace Cafee Welfare Foundation	Director	08/05/2013	08/05/2013	-	Active	NO
10	U74120MH2013PTC250435	CSR ADVISORS PRIVATE LIMITED	Director	27/11/2013	27/11/2013	-	Active	NO
11	U74999MH2015PTC261846	TOHFAA GIFTING PRIVATE LIMITED	Director	13/02/2015	13/02/2015	-	Active	NO
12	AAB-3837	AMALTHEA TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO
13	AAB-3853	HELIKE TRADING AND SERVICES LLP	Designated Partner	11/03/2013	11/03/2013	-	Active	NO

Name :

Akhtar Fakhruddin Shamsi

Designation :

Additional Director

Address :

502,Panchavatika, Panchmarg, Versova, Andheri (West), Mumbai – 400061, Maharashtra, India

Date of Appointment :

23.03.2015

DIN No.:

00045731

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	U99999MH1997PTC109346	FILIGREE ESTATE DEVELOPMENT PRIVATE LIMITED	Director	20/01/1998	20/01/1998	-	Strike off	NO
2	U70100MH1997PTC108781	JINITA ESTATE DEVELOPMENT PRIVATE LIMITED	Director	17/04/1998	17/04/1998	-	Active	NO
3	U70100MH1997PTC108594	CAUDILO ESTATE DEVELOPMENT PRIVATE LIMITED	Director	02/09/2002	02/09/2002	-	Active	NO
4	U24230MH1981PTC025373	TRIDOSS LABORATORIES PRIVATE LIMITED	Director	02/09/2002	02/09/2002	-	Active	NO
5	U55100MH2000PTC128635	ELLORA RESORTS MANAGEMENT PRIVATE LIMITED	Director	02/09/2002	02/09/2002	-	Active	NO
6	U73100MH2004PTC145894	MEDICAID CLINICAL RESEARCH PRIVATE LIMITED	Director	23/04/2004	23/04/2004	-	Amalgamated	NO
7	U52399DL2010PTC210238	LEMON EXIM PRIVATE LIMITED	Director	30/11/2010	30/11/2010	-	Amalgamated	NO
8	U70100MH1995PTC091167	YURT ESTATE DEVELOPMENT PRIVATE LIMITED	Director	04/01/2013	04/01/2013	-	Active	NO
9	U74999MH1979PLC021942	CAROL INFO SERVICES LIMITED	Additional director	20/03/2015	20/03/2015	-	Active	NO
10	U85100MH1991PLC063096	WOCKHARDT HOSPITALS LIMITED	Additional director	23/03/2015	23/03/2015	-	Active	NO

Name :

Gurukumar Bhalchandra Parulkar

Designation :

Additional Director

Address :

4/31, Haji Ali Marg, K K Marg, Mumbai - 400034, Maharashtra, India

Date of Appointment :

23.03.2015

DIN No.:

00015668

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	U74999MH1979PLC021942	CAROL INFO SERVICES LIMITED	Managing director	01/01/2012	26/03/1990	-	Active	NO
2	U85100MH1991PLC063096	WOCKHARDT HOSPITALS LIMITED	Additional director	23/03/2015	28/08/1991	-	Active	NO
3	U73100MH1985NPL134121	KHORAKIWALA FOUNDATION	Director	15/09/1992	15/09/1992	-	Active	NO
4	U85110MH2001PLC133110	WOCKHARDT MAHARASHTRA HOSPITAL LIMITED	Director	20/08/2001	20/08/2001	-	Strike off	NO
5	U73100MH2004PTC145894	MEDICAID CLINICAL RESEARCH PRIVATE LIMITED	Director	23/04/2004	23/04/2004	-	Amalgamated	NO
6	U85100HR1988PLC048080	KANISHKA HEALTHCARE LIMITED	Director	06/09/2005	06/09/2005	17/12/2009	Amalgamated	NO

KEY EXECUTIVES

Name :	Mr. Nishad Shrikrishna Datar
Designation :	Company Secretary
Address :	402, Ramgiri Heights, MTNL Road, Dadar (West), Mumbai – 400028, Maharashtra, India
Date of Birth/Age :	23.07.1985
Date of Appointment :	18.06.2012
PAN No.:	AMRPD9451H

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders (Equity Shares)	No. of Shares
Dartmour Holdings Private Limited, India	60777865
Merind Limited, India	1612903
Carol Info Services Limited, India	6750000
H F Khorakiwala	6750000
H F Korakiwala (nominee of DHPL)	54
GB Parulkar (nominee of DHPL)	27
Casubhay Oves (nominee of DHPL)	27
Vijaya Nair (nominee of DHPL)	27
Citigroup Global Markets Mauritius Private Limited, Mauritius	3300000
Total	79190903

As on 30.09.2014

Names of Shareholders (Preference Shares)	No. of Shares
Palanpur Holdings and Investments Private Limited	160000
Total	160000

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	4.17
Bodies corporate	87.31
Directors or relatives of Directors	8.52
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is Primarily engaged in Hospital Business.

Products :

Product Description	Item Code No. (ITC Code)
Medical and Surgical services for inpatients	99931110

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Not Available

Purchasing :

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 :

Banker Name	ICICI Bank Limited
Branch Address	Not Available
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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loans from banks	176.250	223.250
Deferred Payment liabilities	271.479	298.405
SHORT TERM BORROWING
Other loans and advances	0.000	457.000
Total	447.729	978.655

Auditors :
Name :	M.A. Shah and Company Chartered Accountants
Address :	202 Jolly Bhavan No 2, New Marine Lines, Mumbai – 400020, Maharashtra, India
PAN No.:	AABFM0309D
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Dartmour Holdings Private Limited
Fellow Subsidiary Company :	Merind Limited
Enterprises over which Individuals having direct or indirect control over the Company, have significant influence :	Palanpur Holdings and Investments Private Limited Wockhardt Limited Carol Info Services Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
125840000	Equity Shares	Rs.10/- each	Rs.1258.400 Million
160000	Preference Shares	Rs.10/- each	Rs.1.600 Million
	Total		Rs.1260.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
79190903	Equity Shares	Rs.10/- each	Rs.791.909 Million
160000	Preference Shares	Rs.10/- each	Rs.1.600 Million
	Total		Rs.793.509 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	793.509	793.509	793.509
(b) Reserves & Surplus	3509.093	3584.397	3638.013
(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)	4302.602	4377.906	4431.522
(3) Non-Current Liabilities
(a) long-term borrowings	2232.528	554.542	0.000
(b) Deferred tax liabilities (Net)	0.000	1.379	23.729
(c) Other long term liabilities	21.418	10.641	4.572
(d) long-term provisions	88.012	88.059	82.097
Total Non-current Liabilities (3)	2341.958	654.621	110.398
(4) Current Liabilities
(a) Short term borrowings	0.000	457.000	0.000
(b) Trade payables	382.764	244.236	320.862
(c) Other current liabilities	296.025	224.790	113.551
(d) Short-term provisions	86.593	93.277	77.906
Total Current Liabilities (4)	765.382	1019.303	512.319
TOTAL	7409.942	6051.830	5054.239
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1651.740	1775.756	1749.214
(ii) Intangible Assets	7.830	4.224	5.192
(iii) Capital work-in-progress	3655.690	2622.023	1292.349
(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)	37.288	0.000	0.000
(d) Long-term Loan and Advances	1162.398	790.174	626.956
(e) Other Non-current assets	85.101	120.187	166.832
Total Non-Current Assets	6600.047	5312.364	3840.543
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	56.952	59.316	59.999
(c) Trade receivables	353.425	316.235	297.615
(d) Cash and cash equivalents	316.222	317.314	778.038
(e) Short-term loans and advances	25.939	3.112	7.138
(f) Other current assets	57.357	43.489	70.906
Total Current Assets	809.895	739.466	1213.696
TOTAL	7409.942	6051.830	5054.239

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2510.505	2323.103	2176.845
	Other Income	26.020	49.952	109.234
	TOTAL	2536.525	2373.055	2286.079
Less	EXPENSES
	Cost of Materials Consumed	653.942	663.417	666.711
	Purchases of Stock-in-Trade	66.120	61.618	54.353
	Employees benefits expense	427.586	381.533	351.279
	Exceptional Items	96.689	0.000	0.000
	Extraordinary Items	7.635	14.237	47.781
	Other expenses	1261.565	1192.122	1051.079
	TOTAL	2513.537	2312.927	2171.203
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	22.988	60.128	114.876
Less	FINANCIAL EXPENSES	0.278	0.055	0.164
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	22.710	60.073	114.712
Less/ Add	DEPRECIATION/ AMORTISATION	136.669	136.031	146.508
	PROFIT/ (LOSS) BEFORE TAX	(113.959)	(75.958)	(31.796)
Less	TAX	(38.655)	(22.342)	(58.157)
	PROFIT/ (LOSS) AFTER TAX	(75.304)	(53.616)	26.361
	Earnings / (Loss) Per Share (Rs.)	(0.95)	(0.67)	0.33

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	71.957	12.579	0.000
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(308.589)	549.020	(54.564)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(3.00)	(2.31)	1.21
Operating Profit Margin (PBDIT / Sales)	(%)	0.92	2.59	5.28
Return on Total Assets (PBT/Total Assets}	(%)	(3.07)	(2.21)	(0.85)
Return on Investment (ROI) (PBT/Networth)		(0.03)	(0.02)	(0.01)
Debt Equity Ratio (Total Debt/Networth)		0.54	0.23	0.00
Current Ratio (Current Asset/Current Liability)		1.06	0.73	2.37

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	793.509	793.509	793.509
Reserves & Surplus	3638.013	3584.397	3509.093
Net worth	4431.522	4377.906	4302.602
long-term borrowings	0.000	554.542	2232.528
Short term borrowings	0.000	457.000	0.000
Current Maturities of Long Term Debt	0.000	12.579	71.957
Total borrowings	0.000	1024.121	2304.485
Debt/Equity ratio	0.000	0.234	0.536

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	2176.845	2323.103	2510.505
		6.719	8.067

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	2176.845	2323.103	2510.505
Profit	26.361	(53.616)	(75.304)
	1.21%	(2.31%)	(3.00%)

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	No
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	No
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	No
32	Litigations that the firm/promoter involved in	----------------------
33	Market information	----------------------
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

BACKGROUND

The company was incorporated on August 28, 1991 under the Companies Act, 1956 as a public limited company. The Company was originally named “First Hospitals and Heart Institute Limited”. The Company started commercial operations in the year 1995. On September 11, 2000 the name was changed to “Wockhardt Health Science Limited” and subsequently on October 19, 2000 the name was changed to “Wockhardt Hospitals Limited”. The Company is principally in the business of providing advanced tertiary care and related hospital services, and has now set up / taken over the running, operating and management of various other hospitals in different parts of the country.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Partly Convertible Debentures Banks	1760.000	0.000
Deferred payment liabilities	24.799	32.887
Total	1784.799	32.887

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10523026	22/05/2015 *	500,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA	C55158125
2	10395216	28/12/2012	235,000,000.00	GE CAPITAL SERVICES INDIA	401, 402, 4TH FLOOR, AGGARWAL MILLENNIUM TOWER, E-1,2,3, NETAJI SUBHASH PLACE, WAZIRPUR, NEW DELHI - 110034, DELHI, INDIA	B65246381
3	10472299	26/03/2012	295,920,000.00	PHILIPS ELECTRONICS INDIA LIMITED	7, JUSTICE CHANDRA MADHAB ROAD, KOLKATA - 700020, WEST BENGAL, INDIA	B78631108

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and Equipment
• Furniture and fixtures
• Vehicles
• Office Equipment
• Computer Equipments
• Other Equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records 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.63.65
UK Pound	1	Rs.99.13
Euro	1	Rs.68.90

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
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	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		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.