MIRA INFORM REPORT

Report No. :	317984
Report Date :	06.05.2015

IDENTIFICATION DETAILS

Name :	MAITREYEE ENTERPRISES
Registered Office :	A K Azad Road Gopinat Nagar, Guwahati-781016, Assam
Tel. No.:	91-361-2474012/2478880/2474022
Country :	India
Financials (as on) :	31.03.2015 (Provisional)
Year of Establishment :	June 2013
Capital Investment / Paid-up Capital :	Rs. 1.346 Million (Provisional)
IEC No.:	Not Available
TIN No.:	Not Available
PAN No.: [Permanent Account No.]	ADHPC7260L
Legal Form :	Sole Proprietary Concern
Line of Business :	Traders of Medicines
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small concern
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small proprietary concern in its field. Its scale of activities are limited. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The concern can be considered for small business dealings with some 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 – 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

Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. B. N. Choudhary
Designation :	Proprietor
Contact No.:	91-9864028859
Date :	06.05.2015

LOCATIONS

Registered Office :	A K Azad Road Gopinat Nagar, Guwahati-781016, Assam, India
Tel. No.:	91-361-2474012/2478880/2474022
Mobile No.:	91-9864028859 (Mr. Choudhary)
Fax No.:	91- 361-2470700
E-Mail :	choudharygroup@yahoo.co.in
Area of Operation	Assam Guwahati Dibrugarh Silchar Manipur Imphal Meghalaya Shillong Negaland Kohima Mizoram Aizwal Arunachal Pradesh Itanagar Tripura Agatala

SOLE PROPRIETOR

Name :	Mr. B. N. Choudhary
Designation :	Proprietor
Address :	A K Azad Road Gopinat Nagar, Guwahati-781016, Assam, India
Date of Birth/Age :	26.01.1965
Qualification :	Graduate
Experience :	25 Years

BUSINESS DETAILS

Line of Business :	Traders of Medicines
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS : NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Madan Pharma
Name of the Person :	Mr. Arvind (Partner)
Contact No.:	91-9864013700
Since How Long Known :	10 Years
Experience :	Excellent
Maximum Limit Dealt :	Not Divulged
Remarks :	They gave us positive response about subject company they are satisfied with their product quality and delivery behavior.

Customers :

Reference :	Madan Pharma
Name of the Person :	Mr. Arvind (Partner)
Contact No.:	91-9864013700
Since How Long Known :	10 Years
Experience :	Excellent
Maximum Limit Dealt :	Not Divulged
Remarks :	They gave us positive response about subject company they are satisfied with their delivery behavior and market goodwill.

• Eli –lily Private Limited
• Biocon Limited
• Cipla Limited
• Biochem Pharmaceuticals
• Alkem Laboratories
• Getwell Life Secience India Private
• Glenmark Pharmaceutical Limited
• Cadila Pharmaceuticals Limited

No. of Employees :

Not Divulged

Bankers :

Banker Name :	Axis Bank
Branch Address :	Paltan Bazar
Facilities :	Not Divulged
Person Name :	Mr. Sumandas (Relationship Manager)
Contact No.:	91-9706074943
Report :	Not Divulged
Name of Account Holder	Maitreyee Enterprises
Account Number	914020027377060
Account Since (Date/Year of Account Opening)	June 2014
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Satisfactory
Remarks (If any)	They gave us positive response about subject company they are satisfied with their Banking transaction.

Banker Name :	Kotak Mahindra Bank
Branch Address :	G.S, Road, Guwahati- 781001, Assam, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	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)	Rs.15.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :

Name :

Pankaj Das

Chartered Accountants

Address :

Ananda Nagar, Sixmile, Guwahati- 781022, Assam, India

Tel. No.:

91-361-2331918

PAN No.:

capankajdas@hotmail.com

Memberships :

Not Available

Collaborators :

Not Available

Associates/Subsidiaries :

Name :	Apollo Pharmaceuticals
Address :	A K Azad Road, Gopinat Nagar, Guwahati-781016, Assam, India
Activity :	Pharmaceuticals- Distributor and CA

Name :	BBCI Medical Store
Address :	Inside Dr. BBCI, A K Azad Road, Gopinat Nagar, Guwahati-781016, Assam, India
Activity :	Pharmaceuticals- Retails Outlet

Name :	Choudhary Medical Hall
Address :	A K Azad Road, Gopinat Nagar, Guwahati-781016, Assam, India
Activity :	Pharmaceuticals- Retails and Wholesale

CAPITAL STRUCTURE

As on 31.03.2015 (Provisional)

Capital Account :	Amount (Rs In Million)
Opening Balance	1.292
Add : Net Profit	0.184
	1.476
Less : TDS	0.130
Total	1.346

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietor’s Capital		1.346	1.292	1.273
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		1.346	1.292	1.273
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1.346	1.292	1.273
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.033	0.036	0.040
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	1.307	1.256	0.533
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.040	0.000	0.700
Total Current Assets		1.347	1.256	1.233
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities and Provisions	0.034	0.000	0.000
Total Current Liabilities		0.034	0.000	0.000
Net Current Assets		1.313	1.256	1.233
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1.346	1.292	1.273

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
	SALES
		Income	1.299	1.256	1.143
		Other Income	0.004	0.020	0.091
		TOTAL	1.303	1.276	1.234
Less	EXPENSES
		Salaries	0.680	0.680	0.660
		Audit fees	0.006	0.006	0.005
		Conveyance and travelling	0.043	0.181	0.166
		Data entry fees	0.028	0.028	0.028
		House rent	0.033	0.034	0.034
		Postage, courier and Telegram	0.004	0.019	0.029
		Staff welfare	0.024	0.056	0.052
		Telephone expenses	0.013	0.023	0.022
		Freight and carriage	0.244	0.096	0.090
		Electricity	0.023	0.000	0.000
		Bank Charges	0.002	0.000	0.000
		Printing and Stationery	0.015	0.000	0.000
		TOTAL	1.115	1.123	1.086
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.188	0.153	0.148
Less/ Add	DEPRECIATION/ AMORTISATION		0.004	0.004	0.005
	NET PROFIT		0.184	0.149	0.143

KEY RATIOS

PARTICULARS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	14.16	11.86	12.51
Return on Total Assets (PBT/Total Assets}	(%)	13.33	11.53	11.23
Return on Investment (ROI) (PBT/Networth)		0.14	0.12	0.11
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		39.62	0.00	0.00

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015 (Provisional)
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Proprietor's Capital	1.273	1.292	1.346
Reserves & Surplus	0.000	0.000	0.000
Net worth	1.273	1.292	1.346
Secured Loans	0.000	0.000	0.000
Unsecured Loans	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015 (Provisional)
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1.143	1.256	1.299
		9.886	3.424

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015 (Provisional)
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1.143	1.256	1.299
Profit	0.143	0.149	0.184
	12.51%	11.86%	14.16%

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
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	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Mr. Bijoyananda Choudhary son of Lt. Achytananda Choudhury, resident of A K Azad Road Gopinat Nagar, Guwahati-781016, Assam, India Mr. Choudhary about 50 years and is in the business of medicine catering the whole of North East India at present he is running successfully 2 (four) firm in Guwahati.

He is exclusively concentrating in specialty Medicines (Like Oncology, Virology, Nephrology, etc.) business and have been working since 1989 and growing his portfolio of Companies.

Name of the firms	Type of Business	Year of Starting the Business
Choudhury medical hall	Retails Outlet	January 1989
Apollp pharmaceuticals	Distributor	March 1999
BBBCI Medical store	Retails Outlet	November 2000
Materyee enterprises	C & F Agent	June 2003

----------------------------------------------------------------------------------------------------------------------------

TRADE REFERENCE

• Arvind Bajaj, Modern Pharma
• Subhash Bhaduri, BB Medical System
• Mr. Mazumdar, BM Pharma
• Mahindra Bawari, K L Agency

-----------------------------------------------------------------------------------------------------------------------------

PROJECTED BALANCE SHEET

RS. IN MILLION

SOURCES OF FUNDS		31.03.2017	31.03.2016
SHAREHOLDERS FUNDS
1] Share Capital		1.677	1.483
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.677	1.483
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		1.677	1.483
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.026	0.029
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	1.685	1.487
	Other Current Assets	0.000	0.000
	Loans & Advances	0.000	0.000
Total Current Assets		1.685	1.487
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000
	Other Current Liabilities and Provisions	0.034	0.033
Total Current Liabilities		0.034	0.033
Net Current Assets			1.454
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		1.677	1.483

----------------------------------------------------------------------------------------------------------------------------

PROJECTED PROFIT AND LOSS ACCOUNT

RS. IN MILLION

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Income	3.000	2.500
		Other Income	0.030	0.025
		TOTAL	3.030	2.525
Less	EXPENSES
		Salaries	0.760	0.700
		Audit fees	0.006	0.006
		Conveyance and travelling	0.350	0.280
		Data entry fees	0.028	0.028
		House rent	0.034	0.034
		Postage, courier and Telegram	0.021	0.005
		Staff welfare	0.180	0.160
		Telephone expenses	0.032	0.028
		Freight and carriage	0.980	0.780
		Electricity	0.090	0.070
		Bank Charges	0.004	0.002
		Printing and Stationery	0.045	0.040
		TOTAL	2.530	2.133
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.500	0.392
Less/ Add	DEPRECIATION/ AMORTISATION		0.003	0.003
	NET PROFIT		0.497	0.389

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.63.51
UK Pound	1	Rs.95.96
Euro	1	Rs.70.54

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RSM
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		28

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.