MIRA INFORM REPORT

Report No. :	312361
Report Date :	08.05.2015

IDENTIFICATION DETAILS

Name :	TRICHUR HOSPITAL SUPPLIES
Registered Office :	TC/509/28/22, Sreekrishna, Complex, Near Thiruvambady, Thrichur – 680022, Kerala
Tel. No.:	91-487-2334741
Country :	India
Financials (as on) :	31.03.2015 (Provisional)
Year of Establishment :	May, 1991
Capital Investment :	Rs. 15.751 Million
TIN No.:	32080578884
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AGUPS0251P
Legal Form :	Sole Proprietary Concern
Line of Business :	Distributor of Medicine.
No. of Employees :	10 (Approximately)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established proprietary concern having satisfactory track record. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The concern can be considered for 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 – 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 :	Ms. P. Lekha Padmanabhan
Designation :	Accountant
Contact No.:	91-9446302500
Date :	06.05.2015

LOCATIONS

Registered Office :	TC/509/28/22, Sreekrishna, Complex, Near Thiruvambady, Trichur – 680022, Kerala, India
Tel. No.:	91-487-2334741
Mobile No.:	91-9446302500 (Ms. P. Lekha Padmanabhan)
Fax No.:	Not Divulged
E-Mail :	trichurhospitalstrichur@gmail.com trichurhospitalsuppliestrichur@gmail.com
Location :	Rented
Branch Office :	Mathilakath Pharma, Sreevalsam Centre, Ayyapuram, Palakkad – 678003, Kerala, India
Tel. No.:	91-491-2576542
E-Mail:	trichurhospitalsuppliestrichur@gmail.com
Location :	Rented

SOLE PROPRIETOR

Name :	Mrs. Padoor Naduvilidam Sreekala
Designation :	Proprietor
Address :	AAA21, Sobha Topaz, Sobha City, Puzhakkal, Thrissur – 680553, Kerala, India
Date of Birth/Age :	05.02.1967
Qualification :	BA
Experience :	24 Years
PAN No.:	AGUPS0251P

KEY EXECUTIVES

Name :	Ms. P. Lekha Padmanabhan
Designation :	Accountant

BUSINESS DETAILS

Line of Business :	Distributor of Medicine.
Products :	Medicine
Brand Names :	--
Agencies Held :	· Roche Products India Private Limited · Samarth Pharma Private Limited · Neon Laboratories Limited
Exports :	--
Imports :	--
Terms :
Selling :	Credit (30 Days/ 90 Days)
Purchasing :	Cash (30 Days)

GENERAL INFORMATION

Suppliers :

Reference:	Roche Products Private Limited
Address:	Cochin, Kerala, India
Name of the Person (with Designation):	Mr. Prem (CFA Incharge)
Contact Number:	91-484-2405688
Since How Long Known:	2000
Maximum Limit Dealt:	Rs. 1.500 Million – 2.000 Million (Monthly)
Experience :	Payment Behaviour: Good Market Goodwill: Good Overall: Good
Remarks :	They gave us positive response about subject company. They are satisfied with their payment behaviour and market goodwill.

Customers :

Wholesalers, Retailers and End Users

Reference:	Amala Cancer Hospital and Research Centre
Address:	Amala Nagar, Trichur, Kerala, India
Name of the Person (with Designation):	Mr. Reuben (Pharmacy Incharge)
Contact Number:	91-487-304000
Since How Long Known:	1991
Maximum Limit Dealt:	Rs. 6.000 Million
Experience :	Product Quality: Excellent Delivery Behaviour: Excellent Overall: Excellent
Remarks :	They gave us position response about subject company. They are satisfied with their product quality and delivery behaviour.

No. of Employees :

10 (Approximately)

Bankers :

Bank Name:	State Bank of India
Branch:	SME Branch, MG Road, Thrissur, Kerala, India
Name of the Person (with Designation):	Mrs. Vidya (Cash Incharge)
Contact Number:	91-487-2421192
Name of Account Holder:	TRICHUR HOSPITAL SUPPLIES
Account Number:	32719194378
Account Since (Date/ Year of A/c Opening):	May, 1991
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	Current A/c
Remarks: They gave us positive response about subject company they are satisfied with their banking transaction.

Bank Name:	Axis Bank Limited
Branch:	City Centre, Thrissur, Kerala, India
Name of the Person (with Designation):	Arjun Bhaskar (Manager)
Contact Number:	91-8129084290 91-9746744610
Name of Account Holder:	TRICHUR HOSPITAL SUPPLIES
Account Number:	046010200009164
Account Since (Date/ Year of A/c Opening):	2002
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	Current A/c
Remarks: They gave us positive response about subject company. They are satisfied with their banking transaction.

Facilities :

--

Banking Relations :	--
Auditors :
Name :	G.V. Sukumar Chartered Accountants
Address :	1^st Floor, N.P. Complex, Mannath Lane, M.G. Road, Thrissur – 680001, Kerala, India
Tel. No.:	91-487-2350102/ 2331504
Mobile No.:	91-9388554105
E-Mail :	gv_sukumar@yahoo.co.in
PAN No:
Memberships :	--
Collaborators :	--
Sister Concerns:	--

CAPITAL STRUCTURE

AS ON 31.03.2015 (PROVISIONAL)

(RS. IN MILLION)

Particulars	Amount
Partners Capital Account	0.350
Partners Current Account	15.401
Total	15.751

FINANCIAL DATA

[all figures are in Rupees Million]

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015 (Provisional)	31.03.2014 (Consolidated)	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietors Capital Account		0.350	0.350	0.300
2] Proprietors Current Account		15.401	13.774	10.451
3] Profit and Loss Account		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		15.751	14.124	10.751
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		15.751	14.124	10.751
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.351	1.788	1.836
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	5.924	5.322	3.408
	Sundry Debtors	14.058	10.635	8.794
	Cash & Bank Balances	5.213	5.618	4.267
	Other Current Assets	0.467	0.668	0.484
	Loans & Advances	0.715	0.652	0.200
Total Current Assets		26.377	22.895	17.153
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.416	9.342	6.690
	Other Current Liabilities	2.489	1.145	1.548
	Provisions	0.072	0.072
Total Current Liabilities		13.977	10.559	8.238
Net Current Assets		12.400	12.336	8.915
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		15.751	14.124	10.751

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015 (Provisional)	31.03.2014 (Consolidated)	31.03.2013
	SALES
		Income	124.282	110.261	101.244
		Other Income	0.822	1.041	1.063
		TOTAL	125.104	111.302	102.307
Less	EXPENSES
		Cost of Goods Sold	101.086	91.569	82.856
		Freight Charges	1.069	0.975	0.344
		Coolie Cartage	0.459	0.930	0.353
		Carriage Inward	0.255	0.498	0.280
		Discount	0.156	0.000	0.032
		Bank Charges	0.020	0.010	0.012
		Sales Commission Paid	1.884	1.220	1.715
		Sales Promotion	1.356	1.967	3.637
		Repairs and Maintenance	0.225	0.180	0.175
		Refreshment	0.569	0.439	0.443
		Insurance Charges	0.174	0.254	0.244
		Conveyance	0.201	0.736	0.682
		Printing and Stationery	0.084	0.329	0.331
		Postage and Telegram	0.067	0.332	0.319
		Incentive	1.168	0.496	0.502
		Rent	0.165	0.192	0.181
		Salaries and Wages	5.794	2.721	2.467
		Fare and Allowances	0.944	2.259	1.762
		Carriage Outward	0.021	0.032	0.000
		Bonus	0.716	0.169	0.264
		Other Expenses	2.100	3.448	3.395
		TOTAL	118.513	108.756	99.994
	PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION		6.591	2.546	2.313
Less/ Add	DEPRECIATION/ AMORTISATION		--	--	0.294
	NET PROFIT/ (LOSS)		6.591	2.546	2.019

KEY RATIOS

PARTICULARS		31.03.2015 (Provisional)	31.03.2014 (Consolidated)	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	5.30	2.29	1.97
Return on Total Assets (PBT/Total Assets}	(%)	22.17	10.31	10.63
Return on Investment (ROI) (PBT/Networth)		0.42	0.18	0.19
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.89	2.17	2.08

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
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	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

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TRICHUR HOSPITAL SUPPLIES

PROJECTED BALANCE SHEET

(RS. IN MILLION)

SOURCES OF FUNDS		31.03.2017	31.03.2016
SHAREHOLDERS FUNDS
1] Proprietors Capital Account		0.350	0.350
2] Proprietors Current Account		26.143	19.143
3] Profit and Loss Account		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		26.493	19.493
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		26.493	19.493
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.351	3.351
Capital work-in-progress		0.000	0.000
INVESTMENT		6.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.000	7.000
	Sundry Debtors	15.000	15.000
	Cash & Bank Balances	6.086	6.086
	Other Current Assets	0.613	0.613
	Loans & Advances	0.950	0.950
Total Current Assets		30.649	29.649
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.000	11.000
	Other Current Liabilities	2.407	2.407
	Provisions	0.100	0.100
Total Current Liabilities		13.507	13.507
Net Current Assets		17.142	16.142
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		26.493	19.493

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TRICHUR HOSPITAL SUPPLIES

PROJECTED PROFIT & LOSS ACCOUNT

(RS. IN MILLION)

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Income	180.000	150.000
		Other Income	1.020	1.020
		TOTAL	181.020	151.020
Less	EXPENSES
		Cost of Goods Sold	149.000	123.924
		Freight Charges	1.500	1.200
		Coolie Cartage	0.750	0.600
		Carriage Inward	0.400	0.350
		Discount	0.250	0.200
		Bank Charges	0.030	0.024
		Sales Commission Paid	3.000	2.000
		Sales Promotion	1.500	1.000
		Repairs and Maintenance	1.500	1.500
		Refreshment	0.750	0.600
		Insurance Charges	0.300	0.240
		Conveyance	0.300	0.250
		Printing and Stationery	0.150	0.100
		Postage and Telegram	0.100	0.090
		Incentive	1.350	1.200
		Rent	0.165	0.165
		Salaries and Wages	7.000	6.000
		Fare and Allowances	1.500	1.000
		Carriage Outward	0.050	0.030
		Bonus	1.000	0.800
		Other Expenses	0.905	1.695
		TOTAL	171.500	142.968
	NET PROFIT/ (LOSS)		9.520	8.052

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PROFILE

They are the pioneers in Kerala being the first to start specialized pharma Marketing and Distributing firm of life saving drugs based in the central district of Kerala-Trichur. Since 1991, when they started their business, they were mainly focusing on Drugs required by super specialists doctors and hospitals. In this period, they have carved out a niche in the specialty pharmaceutical market in Kerala especially Trichur and neighboring districts.

Due to their past background in this industry and the top quality customer service they are known to provide for, they are representing many leading companies as their distributor/ stockiest.

They have sister concern based in Palakkad. The have qualified and experienced Sales Representatives to promote and sell their products to Doctors and other customers.

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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. 63.88
UK Pound	1	Rs. 97.21
Euro	1	Rs. 72.51

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SAN
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

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