MIRA INFORM REPORT

Report No. :	318918
Report Date :	09.05.2015

IDENTIFICATION DETAILS

Name :	LEAVOCHEM LABORATORIES
Registered Office :	Plot No. 78, 5-6, 35/17, Opposite Amma Mess, Prasanth Nagar, Kukatpally, Hyderabad – 500072, Andhra Pradesh
Tel. No.:	91-40-65810623
Country :	India
Financials (as on) :	31.03.2015
Year of Establishment :	2007
Capital Investment :	Rs. 9.016 Million
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturer, Trader and Supplier of Fine Chemical and Intermediates, Aceclofenac, Tramadol HCL, Omeprazole Sodium, etc.
No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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. The concern is progressing well. General financial position of the concern is sound. Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct and as per commitment. The concern can be considered normal 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 :	Mr. Sivarami Reddy Kasa
Designation :	Proprietor
Contact No.:	91-9394479298
Date :	06.05.2015

LOCATIONS

Registered Office :	Plot No. 78, 5-6, 35/17, Opposite Amma Mess, Prasanth Nagar, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India
Tel. No.:	91-40-65810623
Mobile No.:	91-9394479298 (Mr. Sivarami Reddy Kasa)
Fax No.:	Not Available
E-Mail :	leavochemlaboratories@yahoo.com
Factory :	Plot No. 70, House No. 5-9-285/14, New Rajiv Gandhi Nagar, Prashanth Nagar, Hyderabad – 500072, Andhra Pradesh, India
Warehouse :	Plot No. 607, Pipeline Road, Subhash Nagar, IDA, Jeedimetla, Hyderabad – 500072, Andhra Pradesh, India

SOLE PROPRIETOR

Name :	Mr. Sivarami Reddy Kasa
Designation :	Proprietor

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader and Supplier of Fine Chemical and Intermediates, Aceclofenac, Tramadol HCL, Omeprazole Sodium, etc.
Products :	· Fine Chemical and Intermediates · Aceclofenac · Tramadol HCL · Omeprazole Sodium, etc.
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :	--

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

No. of Employees :

8 (Approximately)

Bankers :

Bank Name:	Kotak Mahindra Bank Limited
Branch:	Ameerpet Branch, Hyderabad, Andhra Pradesh, India
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks: Not Divulged

· HDFC Bank Limited, Vivekananda Nagar, Hyderabad, Andhra Pradesh, India

Facilities :

PARTICULAR	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
Business Loan – HDFC Bank	0.911
Unsecured Loans	1.563
Total	2.474	1.775

Banking Relations :	--
Auditors :
Name :	Ratna and Associates Chartered Accountants
Address :	Ameerpet Branch, Hyderabad, Andhra Pradesh, India
Memberships :	--
Collaborators :	--
Sister Concerns:	Symbiotic Chemicals

CAPITAL STRUCTURE

As on 31.03.2014

Capital Investment :
Owned :	Rs. 9.016 Million
Borrowed :	--
Total :	Rs. 9.016 Million

FINANCIAL DATA

[all figures are in Rupees Million]

Particulars	31.03.2015
Sales Turnover (Approximately)	150.000

The above information has been parted by Mr. Sivarami Reddy Kasa (Proprietor).

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietors Capital		9.016	4.630
2] Share Application Money		0.000	0.000
3] Profit and Loss Account		0.000	1.707
4] (Accumulated Losses)		0.000	0.000
NETWORTH		9.016	6.337
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		2.474	1.775
TOTAL BORROWING		2.474	1.775
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		11.490	8.112
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.468	0.185
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.310	3.280
	Sundry Debtors	18.430	6.226
	Cash & Bank Balances	0.482	0.750
	Other Current Assets	0.852	2.964
	Loans & Advances	0.432	0.514
Total Current Assets		26.506	13.734
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	16.317	5.507
	Other Current Liabilities	0.023	0.300
	Provisions	0.144	0.000
Total Current Liabilities		16.484	5.807
Net Current Assets		10.022	7.927
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		11.490	8.112

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	154.176	128.730
		Other Income	0.219	0.185
		TOTAL	154.395	128.915
Less	EXPENSES
		Cost of Goods Sold	148.405	125.020
		Freight Charges	0.497	0.379
		Testing Charges	0.031	0.058
		Audit Fees	0.020	0.020
		Communication and Internet	0.037	0.041
		Electricity Charges	0.126	0.070
		Insurance	0.017	0.000
		MID Expense	0.001	0.000
		Office Maintenance	0.093	0.109
		Packing and Forwarding	0.018	0.010
		Printing and Stationery	0.039	0.012
		Professional Charges	0.122	0.158
		Rent	0.387	0.278
		Repairs and Maintenance	0.163	0.179
		Salaries	1.881	1.045
		Staff Welfare	0.052	0.057
		Travelling and Conveyance	0.035	0.021
		Vehicle Maintenance	0.072	0.036
		Other Expenses	0.000	0.099
		TOTAL	151.996	127.592
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		2.399	1.323
Less	FINANCIAL EXPENSES		1.248	0.420
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.151	0.903
Less/ Add	DEPRECIATION/ AMORTISATION		0.029	0.038
	NET PROFIT/ (LOSS)		1.122	0.865

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	0.73	0.67
Operating Profit Margin (PBDIT/Sales)	(%)	1.56	1.03
Return on Total Assets (PBT/Total Assets}	(%)	4.01	6.21
Return on Investment (ROI) (PBT/Networth)		0.12	0.14
Debt Equity Ratio (Total Debt/Networth)		0.27	0.28
Current Ratio (Current Asset/Current Liability)		1.61	2.36

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Proprietors Capital	4.630	9.016
Profit and Loss Account	1.707	0.000
Net worth	6.337	9.016
Secured Loans	0.000	0.000
Unsecured Loans	1.775	2.474
Total borrowings	1.775	2.474
Debt/Equity ratio	0.280	0.274

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	128.730	154.176
		19.767

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	128.730	154.176
Profit	0.865	1.122
	0.67%	0.73%

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	No
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 two 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	Yes
17]	Major suppliers	No
18]	Major customers	No
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	--
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	No
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

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. 64.05
UK Pound	1	Rs. 99.04
Euro	1	Rs. 71.76

INFORMATION DETAILS

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

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	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.