MIRA INFORM REPORT

Report No. :	312454
Report Date :	16.06.2015

IDENTIFICATION DETAILS

Name :	NEW MEDICINE INDIA
Registered Office :	H. No. 74/1, East Udayrajpur (Daspara), Madhyamgram, Kolkata – 700129, West Bengal
Tel. No.:	91-33-25380279
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	1990
Capital Investment / Paid-up Capital :	Rs.3.627 Million
IEC No.:	Not Divulged
TIN No.:	Not Divulged
PAN No.: [Permanent Account No.]	Not Divulged
Legal Form :	Sole Proprietary Concern
Line of Business :	Distributor of Pharmaceutical Products.
No. of Employees :	22 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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 established proprietorship concern incorporated in the year 1990 and is having satisfactory track record. Mr. Ajay Kumar Routh, proprietor has provided all the information to us. Subject is engaged into trading of pharmaceutical products. Rating take into account of decent experience of proprietor in pharma business and sound operational profile of the concern. Trade relations are fair. Payments are reported to be usually correct. In a view aforesaid, the concern can be considered for the business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

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.

INFORMATION PARTED BY

Name :	Mr. Ajay Kumar Routh
Designation :	Proprietor
Contact No.:	91-9433124599
Date :	25.05.2015

LOCATIONS

Registered Office :	H. No. 74/1, East Udayrajpur (Daspara), Madhyamgram, Kolkata – 700129, West Bengal, India
Tel. No.:	91-33-25380279
Mobile No.:	91-9433124599 (Mr. Ajay Kumar Routh)
Fax No.:	Not Available
E-Mail :	newmedin@rediffmail.com
Location :	Owned

SOLE PROPRIETOR

Name :	Mr. Ajay Kumar Routh
Designation :	Proprietor
Date of Birth / Age :	17.06.1963
Qualification :	B. Com
PAN No.:	ACQPR9037A

BUSINESS DETAILS

Line of Business :	Distributor of Pharmaceutical Products.
Products :	Pharmaceutical Products
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit (30 / 60 / 90 Days)
Purchasing :	Cash and Credit (30 / 60 / 90 Days)

GENERAL INFORMATION

Suppliers :

Company Name :	Wockhard Limited
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 :	Omkar Pharma
Name of the Person :	Mr. Vinod
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

No. of Employees :

22 (Approximately)

Bankers :

Banker Name :	State Bank of India
Branch :	Madhyamgram, Kolkata, West Bengal, 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 :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Cash / Credit= Rs.3.200 Million
Account Operation :	Not Divulged
Remark :	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Cash credit account with State Bank of India, Madhyamgram Branch, Account No. 10618221992	2.483	2.618
Car Loan
State Bank of India, Madhyamgram Branch	0.113	0.177
Total	2.596	2.795

Auditors :
Name :	Poddar and Poddar Company Chartered Accountants
Address :	Kolkata, West Bengal, India
Collaborators :	Not Divulged
Membership :	Not Divulged
Sister Concern :	Medicine India Chemist

CAPITAL STRUCTURE

AS ON 31.03.2014

Proprietor’s Capital Account	Rs. In Million	Rs. In Million
Mr. Ajay Kumar Routh
As per last account	3.151
Add: This year	0.330
Add: Net profit during the year	1.092	4.573
Less: Drawings
Personal expenses	0.671
Self-assessment income tax	0.145
Advance income tax	0.130	0.946
TOTAL		3.627

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Proprietor’s Capital Account		3.627	3.151	3.189
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.627	3.151	3.189
LOAN FUNDS
1] Secured Loans		2.596	2.795	1.696
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		2.596	2.795	1.696
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6.223	5.946	4.885
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.595	0.663	0.751
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.818	2.315	2.977
	Sundry Debtors	1.810	2.839	1.746
	Cash & Bank Balances	0.047	0.061	0.008
	Other Current Assets	0.000	0.000	0.000
	Loans, Advances & Deposits	0.251	0.635	0.098
Total Current Assets		5.926	5.850	4.829
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.158	0.512	0.565
	Other Current Liabilities	0.140	0.055	0.130
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.298	0.567	0.695
Net Current Assets		5.628	5.283	4.134
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6.223	5.946	4.885

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	40.334	43.521	40.421
		Other Income	0.000	0.000	0.000
		TOTAL	40.334	43.521	40.421
Less	EXPENSES
		Cost of goods sold	36.219	38.066	35.441
		Carriage Inward	0.160	0.328	0.311
		Accounting charges	0.078	0.078	0.072
		Advertisement	0.000	0.000	0.028
		Audit fees	0.011	0.011	0.010
		Bank charges	0.042	0.234	0.037
		Bank Interest	0.215	0.054	0.271
		Bonus	0.089	0.169	0.100
		Vat paid (On Assessment)	0.008	0.139	0.000
		Carriage outward	0.336	0.537	0.580
		Computer maintenance	0.019	0.004	0.014
		Discount & differences	0.016	0.020	0.028
		Electric charges	0.057	0.063	0.034
		Entertainment	0.022	0.025	0.019
		General charges	0.020	0.036	0.046
		Generator charges	0.054	0.017	0.008
		Halkhata expenses	0.029	0.028	0.027
		Insurance charges	0.020	0.020	0.030
		Interest on car loan	0.016	0.028	0.036
		Interest on profession tax	0.001	0.000	0.000
		Interest on purchase	0.014	0.000	0.000
		Legal charges	0.002	0.013	0.021
		Motor car maintenance	0.067	0.039	0.076
		Printing & stationery	0.024	0.028	0.019
		Professional tax	0.003	0.003	0.003
		Repair & maintenance	0.031	0.023	0.036
		Sales promotion expenses	0.563	0.672	0.404
		Bad Debts	0.000	0.000	0.094
		Staff salary	0.597	0.904	0.761
		Staff welfare	0.011	0.029	0.009
		Subscription & donation	0.008	0.005	0.011
		Tea & tiffin expenses	0.045	0.064	0.065
		Telephone charges	0.027	0.033	0.025
		Trade license	0.001	0.001	0.001
		Travelling & conveyance	0.370	0.496	0.445
		TOTAL	39.175	42.167	39.062
	PROFIT/(LOSS) BEFORE DEPRECIATION		1.159	1.354	1.359
Less	DEPRECIATION		0.067	0.088	0.109
	NET PROFIT		1.092	1.266	1.250

The above information has been parted by Mr. Ajay Kumar Routh (Proprietor)

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	2.71	2.91	3.09
Return on Total Assets (PBT/Total Assets)	(%)	16.75	19.44	22.40
Return on Investment (ROI) (PBT/Networth)		0.30	0.40	0.39
Debt Equity Ratio (Total Debt /Networth)		0.72	0.89	0.53
Current Ratio (Current Asset/Current Liability)		19.89	10.32	6.95

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	3.189	3.151	3.627
Reserves & Surplus	0.000	0.000	0.000
Net worth	3.189	3.151	3.627
Secured Loans	1.696	2.795	2.596
Unsecured Loans	0.000	0.000	0.000
Total borrowings	1.696	2.795	2.596
Debt/Equity ratio	0.532	0.887	0.716

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	40.421	43.521	40.334
		7.669	(7.323)

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	40.421	43.521	40.334
Profit	1.250	1.266	1.092
	3.09%	2.91%	2.71%

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	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last three years	Yes
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
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

ESTIMATED BALANCE SHEET AS AT 31.03.2016 (RS. IN MILLION)

SOURCES OF FUNDS		31.03.2016
SHAREHOLDERS FUNDS
1] Proprietor’s Capital Account		4.578
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		4.578
LOAN FUNDS
1] Secured Loans		4.000
2] Unsecured Loans		0.000
TOTAL BORROWING		4.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		8.578
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.509
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.000
	Sundry Debtors	1.980
	Cash & Bank Balances	0.020
	Other Current Assets	0.000
	Loans, Advances & Deposits	0.904
Total Current Assets		8.904
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.650
	Other Current Liabilities	0.185
	Provisions	0.000
Total Current Liabilities		0.835
Net Current Assets		8.069
MISCELLANEOUS EXPENSES		0.000
TOTAL		8.578

FIXED ASSETS:

· Blue Star Milk Cooler

· Showcase Cooler

· Celfrost Chest Freezer

· Furniture and Fixture

· Refrigerator

· Motor Car

· Computer

· Mobile Phone

· Land

· Bi- Cycle

· Aquaguard Water Purifier

· Security Alarm System

· Fan

· Fire Shield

· Voltage Stabilizer

· Air Condition Machine

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.64.09
UK Pound	1	Rs.99.57
Euro	1	Rs.71.84

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAS
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--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		42

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.