MIRA INFORM REPORT

Report No. :	326761
Report Date :	11.06.2015

IDENTIFICATION DETAILS

Name :	ANUH PHARMA LIMITED
Registered Office :	A-3, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra
Tel. No. :	91-22-66227575/ 55527575
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	19.02.1960
Com. Reg. No.:	11-011586
Capital Investment / Paid-up Capital :	Rs. 41.760 Million
CIN No.: [Company Identification No.]	L24230MH1960PLC011586
IEC No.:	0389021601
TAN No.: [Tax Deduction & Collection Account No.]	MUMA22404E / MUMA20261D
PAN No.: [Permanent Account No.]	AAACA4478P
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer of Bulk Drugs and Chemicals.
No. of Employees :	25 (Approximately)

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 2900000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established and reputed company having fine track record. Financial position of the company seems to be sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitments. The company can be considered normal for normal 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.

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	Long term Cash Credit = BBB+
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	June 2014

Rating Agency Name	ICRA
Rating	Short term Non-fund based = A2+
Rating Explanation	Have strong degree of safety and carry low credit risk.
Date	June 2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION DENIED BY

Name :	Ms. Ashwini Ambrale
Designation :	Company Secretary
Contact No.:	91-22-66227575
Date :	17.12.2014

LOCATIONS

Registered / Corporate Office :	A-3, Shivsagar Estate, North Wing, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
Tel. No.:	91-22-66227575/ 55527575
Fax No.:	91-22-55527600/ 66227500
E-Mail :	anuh@skageexport.com anuh@sk1932.com info@sk1932.com
Website :	http://www.anuhpharma.com
Factory 1 :	Anuh Pharma E-17/3 and 17/4, M.I.D.C. Tarapur, Boisar, District Thane - 401506, Maharashtra, India
Tel. No.:	91-2525-272174/ 270281
Fax No.:	91-2525-270281
E-Mail :	ritesh@sk1932.com
Factory 2 :	Eskay Fine Chemicals Turbhe Thane Belapur Road, Navi Mumbai – 400705, Maharashtra, India
Telefax :	91-22-27681505/ 27681708
E-Mail :	anita@sk1932.com
R & D Division :	A-514, TTC Industrial Area, MIDC, Mahape, Navi Mumbai – 400701, Maharashtra, India

DIRECTORS

As on 02.08.2013

Name :

Mr. Jayantilal Popatlal Shah

Designation :

Director

Address :

Flat No. 3B, 31D Floor, New Suvas A, 68-F, Nepeansea Road, Malabar Hill, Mumbai - 400 006, Maharashtra, India

Date of Birth/Age :

07.05.1929

Date of Appointment :

29.10.1980

DIN No.:

00083146

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	L24230MH1960PLC011586	ANUH PHARMA LIMITED	Director	29/10/1980	29/10/1980	-	Active	NO
2	U67120MH1983PTC029955	JAPOSHA INVESTMENTS AND TRADES PVT LTD	Director	11/05/1983	11/05/1983	-	Active	NO
3	U24230MH1994PTC080562	S KANT CHEMICALS PRIVATE LIMITED	Director	24/08/1994	24/08/1994	30/10/2009	Active	NO
4	U24239MH1983PTC030195	S KANT PHARMA PRIVATE LIMITED	Director	01/04/2001	01/04/2001	31/03/2007	Active	NO
5	U24239MH1983PTC030201	SEVANTILAL KANTILAL PRIVATE LIMITED	Director	28/04/2004	28/04/2004	-	Active	NO

Name :

Mr. Lalitkumar Popatlal Shah

Designation :

Director

Address :

B-212, Amalfi, 27B, L.D. Ruparel Marg, Malabar Hill, Mumbai - 400 006 Maharashtra, India

Date of Birth/Age :

02.10.1936

Date of Appointment :

29.10.1980

DIN No.:

00396345

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	U93090TN1973PTC010295	FRANCO INDIAN RESEARCH PRIVATE LIMITED	Director	19/08/1979	19/08/1979	14/08/2008	Active	NO
2	L24230MH1960PLC011586	ANUH PHARMA LIMITED	Director	29/10/1980	29/10/1980	-	Active	NO
3	U67120MH1983PTC029949	L P SHAH HOLDINGS AND TRADES PVT LTD	Director	10/05/1983	10/05/1983	-	Converted to LLP and dissolved	NO
4	U24230MH1996PLC098246	S KANT HEALTHCARE LIMITED	Director	18/03/1996	18/03/1996	-	Active	NO
5	U24239MH1983PTC030195	S KANT PHARMA PRIVATE LIMITED	Director	31/03/1998	31/03/1998	-	Active	NO
6	U24100MH2011PTC221911	Eskay Iodine Private Limited	Director	13/09/2011	13/09/2011	-	Active	NO
7	AAD-6905	L P SHAH HOLDINGS AND TRADES LLP	Designated Partner	31/03/2015	31/03/2015	-	Active	NO

Name :

Mr. Bharat Nemchand Shah

Designation :

Director

Address :

4'h Floor, Room No. 15, Bhartiya Bhavan, Netaji Subhash Road, Marine Drive, Mumbai - 400 020 Maharashtra, India

Date of Birth/Age :

06.09.1946

Date of Appointment :

29.10.1980

PAN No.:

ADUPS8329M

DIN No.:

00083354

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	L24230MH1960PLC011586	ANUH PHARMA LIMITED	Director	29/10/1980	29/10/1980	-	Active	NO
2	U24230TN1973PTC011763	FRANCO INDIAN REMEDIES PRIVATE LIMITED	Director	29/05/1985	29/05/1985	21/07/2008	Active	NO
3	U24230MH1994PTC080562	S KANT CHEMICALS PRIVATE LIMITED	Director	24/08/1994	24/08/1994	-	Active	NO
4	U24239MH1983PTC030201	SEVANTILAL KANTILAL PRIVATE LIMITED	Director	28/04/2004	28/04/2004	-	Active	NO
5	U24230MH1990PTC057922	PRAGATI PHARMA PRIVATE LIMITED	Director	28/04/2004	28/04/2004	-	Active	NO
6	U24230MH1996PLC098246	S KANT HEALTHCARE LIMITED	Director	28/04/2004	28/04/2004	-	Active	NO

Name :

Mr. Bipin Nemchand Shah

Designation :

Managing Director

Address :

180 1 Devdarshan, 50 Ridge Road, Teen Batti, Mumbai - 400 006 Maharashtra, India

Date of Birth/Age :

07.03.1949

Date of Appointment :

01.04.2014

PAN No.:

AACPS5406N

DIN No.:

00083244

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	U24239MH1983PTC030195	S KANT PHARMA PRIVATE LIMITED	Director	03/02/2012	16/12/1985	-	Active	NO
2	L24230MH1960PLC011586	ANUH PHARMA LIMITED	Managing director	01/04/2014	04/09/1987	-	Active	NO
3	U24231WB1983PTC036434	FRANCO INDIAN MEDICARE PVT LTD	Director	01/12/1993	01/12/1993	21/07/2008	Active	NO
4	U24100MH2011PTC221911	Eskay Iodine Private Limited	Director	19/10/2011	19/10/2011	-	Active	NO
5	U51101MH2012PTC236003	ITAL PHARCHEM PRIVATE LIMITED	Director	20/09/2012	20/09/2012	-	Active	NO

Name :

Mr. Jasvantlal Girdharilal Shah

Designation :

Director

Address :

5711439, Adarsh Nagar, Prabhadevi, Dadar, Mumbai 400025 Maharashtra, India

Date of Birth/Age :

24.11.1933

Date of Appointment :

09.08.1995

DIN No.:

00372600

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	L24230MH1960PLC011586	ANUH PHARMA LIMITED	Director	09/08/1995	09/08/1995	-	Active	NO
2	U67120MH1997PTC111977	J G A SHAH SHARE BROKERS PRIVATE LIMITED	Director	19/11/1997	19/11/1997	-	Active	NO

Name :

Mr. Dilip Shah

Designation :

Director

Address :

2/21 Beach Queen, 35b Azad Road, Juhu, Mumbai- 400049 Maharashtra, India

Date of Birth/Age :

25.04.1941

Date of Appointment :

12.09.2008

DIN No.:

01989812

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	L24230MH1960PLC011586	ANUH PHARMA LIMITED	Director	12/09/2008	30/10/2007	-	Active	NO
2	L24230GJ1976PLC008738	LYKA LABS LIMITED	Director	16/10/2008	31/07/2008	21/04/2009	Active	NO
3	U24231DL2003PLC119441	Fresenius Kabi Oncology Limited	Director	29/07/2009	11/08/2008	-	Active	NO
4	U85100MH2010NPL208876	PRABODHANA INDIA FOUNDATION	Director	12/10/2010	12/10/2010	-	Active	NO

Name :

Mr. Arun Todarwal

Designation :

Director

Address :

81, Shiner, 84, Nepean Sea Road, Mumbai, 400006, Maharashtra, India

Date of Birth/Age :

16.06.1957

Date of Appointment :

16.09.2009

DIN No.:

00020916

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	L31300DN2000PLC000340	STERLITE TECHNOLOGIES LIMITED	Director	25/01/2003	25/01/2003	-	Active	NO
2	U13202TZ1960PLC000372	THE MADRAS ALUMINIUM COMPANY LIMITED	Director	30/12/2005	30/12/2005	18/07/2011	Amalgamated	NO
3	U36911RJ2005PTC021405	HF METALART PRIVATE LIMITED	Alternate director	01/08/2006	01/08/2006	01/09/2006	Active	NO
4	L17110GJ1985PLC033271	WELSPUN INDIA LIMITED	Director	25/09/2014	09/08/2007	-	Active	NO
5	U17111TZ2006PLC013046	MUTHUKUMARASAMY TEXTILES LIMITED	Director	14/08/2007	14/08/2007	20/03/2009	Active	YES
6	U36911MH2008PLC181278	GOLD MINT INDIA LIMITED	Director	17/04/2008	17/04/2008	23/01/2009	Active	NO
7	U63032MH2003PTC142871	LAKECITY VENTURES PRIVATE LIMITED	Director	30/09/2008	12/05/2008	-	Active	NO
8	L55101PN1959PLC012761	Graviss Hospitality Limited	Director	25/06/2009	21/06/2008	06/03/2015	Active	NO
9	U15200MH1996PLC096973	GRAVISS HOTELS AND RESORTS LIMITED	Director	25/11/2008	04/07/2008	27/03/2015	Active	NO
10	L24230MH1960PLC011586	ANUH PHARMA LIMITED	Director	16/09/2009	24/10/2008	-	Active	NO
11	L51100GJ2000PLC037204	WELSPUN GLOBAL BRANDS LIMITED	Nominee director	28/09/2010	15/09/2009	-	Amalgamated	NO
12	L52100GJ2008PLC055195	WELSPUN INVESTMENTS AND COMMERCIALS LIMITED	Additional director	08/08/2013	16/12/2009	01/07/2014	Active	NO
13	U65990WB2009PTC139790	SREI MUTUAL FUND TRUST PRIVATE LIMITED	Director	05/07/2012	19/12/2011	-	Active	NO
14	U71210GJ2004PLC045144	WELSPUN GLOBAL BRANDS LIMITED	Director	11/09/2014	07/12/2012	-	Active	NO
15	U40102DL2007PLC158625	East-North Interconnection Company Limited	Director	30/09/2014	16/07/2014	15/04/2015	Active	NO
16	U40104PN2010PLC135953	STERLITE GRID LIMITED	Director	30/09/2014	16/07/2014	-	Active	NO
17	U74999MH2005PLC153211	Sterlite Grid 2 Limited	Director	30/09/2014	16/07/2014	-	Active	NO
18	L27204RJ1966PLC001208	HINDUSTAN ZINC LIMITED	Additional director	11/03/2015	11/03/2015	-	Active	NO
19	U31300TN2001PLC069645	MALCO Energy Limited	Director	30/03/2015	30/03/2015	-	Active	NO

Name :

Mr. Sandeep Madhusudan Joshi

Designation :

Director

Address :

202 Kasturi Towers 238A, LBS Marg Opposite Red Cross Bhavan Thane, Thane-400602, Maharashtra, India

Date of Birth/Age :

01.01.1961

Date of Appointment :

02.08.2013

DIN No.:

00516409

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	U24230MH1995PTC094425	HOLDEN MEDICAL PRIVATE LIMITED	Director	14/11/1995	14/11/1995	-	Active	NO
2	U24230MH2006PTC158642	INVENT FARMA PRIVATE LIMITED	Director	04/01/2006	04/01/2006	-	Active	NO
3	U24239MH1995PTC085628	HOLDEN MEDICAL LABORATORIES PRIVATE LIMITED	Director	01/08/2009	01/08/2009	-	Active	NO
4	U51109MH2010PTC198781	ORFFA ANIMAL NUTRITION PRIVATE LIMITED	Director	11/01/2010	11/01/2010	-	Active	NO
5	U74120MH2012PTC237503	HM Infomed Private Limited	Director	03/11/2012	03/11/2012	-	Active	NO
6	L24230MH1960PLC011586	ANUH PHARMA LIMITED	Director	02/08/2013	09/11/2012	-	Active	NO

Name :

Mr. Gulabchand Sharda

Designation :

Director

Address :

604 Swaroop Co Op. Housing Soc. Limited, Near Bhakti Mandir, Panchpakhadi, Thane (West), Thane-400602, Maharashtra, India

Date of Birth/Age :

20.04.1944

Date of Appointment :

02.08.2013

PAN No.:

AAMPS9620C

DIN No.:

06583340

KEY EXECUTIVES

Name :	Ms. Ashwini Ambrale
Designation :	Company Secretary

SHAREHOLDING PATTERN

As on 31.03.2015

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	5252854	62.89
Any Others (Specify)	174804	2.09
Group Companies	174804	2.09
Sub Total	5427658	64.99
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	5427658	64.99
(B) Public Shareholding
(1) Institutions
(2) Non-Institutions
Bodies Corporate	189984	2.27
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	1865031	22.33
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	813662	9.74
Any Others (Specify)	55665	0.67
Non Resident Indians	51597	0.62
Clearing Members	3300	0.04
Directors & their Relatives & Friends	768	0.01
Sub Total	2924342	35.01
Total Public shareholding (B)	2924342	35.01
Total (A)+(B)	8352000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	8352000	100.00

As on 02.08.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	4.05
Directors or relatives of Directors	62.92
Other top fifty shareholders	14.77
Others	17.98
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Bulk Drugs and Chemicals.

Products :

ITC Code No.	Product Descriptions
2941.50	Erythromycin Salts
2941.40	Chloramphenicol

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

25 (Approximately)

Bankers :

Banker Name	Bank of India
Branch Address	Mumbai MID Corporate, 70/80, M.G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai - 400001, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

Secured Loan	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWINGS
From Bank Overdraft from Bank of India (Secured by lien on fixed deposit with bank)	0.000	5.237
Total	0.000	5.237

Auditors :
Name :	S.I. Mogul and Company Chartered Accountants
Address :	73-B, Mittal Court, Nariman Point, Mumbai – 400021, Maharashtra, India
PAN No.:	AAMFS7435P
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	S Kant Healthcare Limited S.K. Age Exports S Kant Chemicals Private Limited S Kant Pharma Private Limited Eskay Iodine Private Limited Eskay Speciality Chemicals Sevantilal Kantilal and Company

CAPITAL STRUCTURE

As on 12.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs. 5/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
8352000	Equity Shares	Rs. 5/- each	Rs. 41.760 Million

LISTING DETAILS

Subject Stock Code :	BSE : 506260
Stock Exchange Place :	Bombay Stock Exchange, Mumbai
ISIN Number for NSDL & CDSL :	INE489G01022
Listed Date :	---

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	41.760	41.760	41.760
(b) Reserves & Surplus	967.212	817.053	714.475
(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)	1008.972	858.813	756.235
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	2.445	2.580
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	5.823	2.559	2.135
Total Non-current Liabilities (3)	5.823	5.004	4.715
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	5.237
(b) Trade payables	480.108	600.184	469.542
(c) Other current liabilities	19.954	17.660	13.143
(d) Short-term provisions	167.996	150.928	112.408
Total Current Liabilities (4)	668.058	768.772	600.330
TOTAL	1682.853	1632.589	1361.280
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	93.953	120.550	104.025
(ii) Intangible Assets	0.961	0.985	0.773
(iii) Capital work-in-progress	3.304	1.780	25.980
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	132.739	80.286	55.790
(c) Deferred tax assets (net)	6.678	0.000	0.000
(d) Long-term Loan and Advances	9.692	13.285	9.270
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	247.327	216.886	195.838
(2) Current assets
(a) Current investments	293.271	188.000	138.022
(b) Inventories	164.205	193.245	236.843
(c) Trade receivables	681.503	747.472	544.361
(d) Cash and cash equivalents	141.539	154.713	133.767
(e) Short-term loans and advances	152.711	129.918	110.033
(f) Other current assets	2.297	2.356	2.416
Total Current Assets	1435.526	1415.704	1165.442
TOTAL	1682.853	1632.590	1361.280

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	2836.905	2663.977	2426.707
	Other Income	50.488	41.487	22.275
	TOTAL	2887.393	2705.464	2448.982
Less	EXPENSES
	Cost of Materials Consumed	2182.162	2099.306	1968.956
	Purchases of Stock-in-Trade	11.741	8.289	59.410
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	21.208	35.147	(27.523)
	Employees benefits expense	56.246	46.658	46.790
	Other expenses	264.192	242.799	207.412
	TOTAL	2535.549	2432.199	2255.045
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	351.844	273.265	193.937
Less	FINANCIAL EXPENSES	0.502	1.039	0.453
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	351.342	272.226	193.484
Less/ Add	DEPRECIATION/ AMORTISATION	32.735	17.461	16.636
	PROFIT BEFORE TAX	318.607	254.765	176.848
Less	TAX	98.695	78.865	51.498
	PROFIT AFTER TAX	219.912	175.900	125.350
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	208.475	155.896	141.720
Add	Income Tax adjustment of earlier years	NA	2.407	(2.545)
Less	APPROPRIATIONS
	Transfer to General Reserve	NA	50.000	50.000
	Proposed final Dividend	NA	54.288	50.112
	Tax on proposed final Dividend	NA	11.000	8.517
	Interim Dividend	NA	10.440	0.000
	BALANCE CARRIED TO THE B/S	NA	208.475	155.896
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	NA	1008.041	983.494
	TOTAL EARNINGS	NA	1008.041	983.494
	Earnings Per Share (Rs.)	26.33	21.06	15.01

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	208.051	65.298

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin PAT / Sales	(%)	7.75	6.60	5.16
Operating Profit Margin (PBDIT/Sales)	(%)	12.40	10.25	7.99
Return on Total Assets (PBT/Total Assets}	(%)	20.69	16.43	13.82
Return on Investment (ROI) (PBT/Networth)		0.32	0.30	0.23
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.01
Current Ratio (Current Asset/Current Liability)		2.15	1.84	1.94

STOCK PRICES

Face Value	Rs.5 /- each
Market Value	Rs. 861.25 /- each

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	41.760	41.760	41.760
Reserves & Surplus	714.475	817.053	967.212
Net worth	756.235	858.813	1008.972
long-term borrowings	0.000	0.000	0.000
Short term borrowings	5.237	0.000	0.000
Total borrowings	5.237	0.000	0.000
Debt/Equity ratio	0.007	0.000	0.000

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	2426.707	2663.977	2836.905
		9.777	6.491

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	2426.707	2663.977	2836.905
Profit	125.350	175.900	219.912
	5.17%	6.60%	7.75%

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	Yes
8	Designation of contact person	Yes
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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
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	----------------------
33	Market information	----------------------
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10038218	22/03/2012 *	650,000,000.00	BANK OF INDIA	MUMBAI MID CORPORATE, 70/80, M.G. ROAD, BANK OF INDIA BUILDING, MEZZANINE FLOOR, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	B38298881
2	90186656	20/03/1999	2,500,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
3	90186448	23/04/1997	2,000,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
4	90184014	14/06/2010 *	450,000,000.00	BANK OF INDIA	WORLI NAKA BR., PANKAJ MANSION, OPP. PODAR HOSPITAL, DR. A. B. ROAD, WORLI NAKA,, MUMBAI, MAHARASHTRA - 400018, INDIA	A91194704
5	90185621	23/04/1997 *	1,200,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
6	90187519	23/04/1997 *	4,000,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
7	90185390	29/07/1992 *	3,300,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
8	90187464	06/10/1995 *	3,300,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
9	90183919	08/02/1991 *	4,500,000.00	BANK OF INDIA	OPERA HOUSE BRANCH; HERMES HOUSE, MAMA PARAMANAND ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
10	90187389	08/01/1987	300,000.00	CANARA BANK	QUEEN'S ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-

* Date of charge modification

OPERATIONS (As on 31.03.2014)

The sales and operating income for the year ended 31^st March 2014 amounted to Rs. 2649.279 Million as against Rs. 2416.049 Million for the previous year. Thus the turnover of the company has increased by about 9.65% as compared to last year’s turnover.

During the year 2013-14 profit before tax as compared to last year has increased by 41.14% from Rs. 180.500 Million to Rs. 254.765 Million and profit after tax has increased by 40.33% from Rs. 125.350 Million to Rs. 175.899 Million.

FIXED ASSETS

Tangible Assets

· Leasehold Land

· Buildings

· Plant and Machinery

· Laboratory Equipments

· Material Storage and Handling Equipments

· Electric Installations

· Air-conditioning Equipments and Refrigerators

· Computer Hardware

· Furniture and Fixtures

· Vehicles

· Office equipment

Intangible Assets

· Computer software

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.88
UK Pound	1	Rs.98.47
Euro	1	Rs.72.15

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
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	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	YES
--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.