MIRA INFORM REPORT

Report No. :	312312
Report Date :	12.05.2015

IDENTIFICATION DETAILS

Name :	AADITYA BIOTECH LIFESCIENCES
Registered Office :	150/B, Arya Kumar Road, Rajendra Nagar, Patna – 800016, Bihar
Tel. No.:	91-612-2665069
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	2008
Capital Investment / Paid-up Capital :	Rs.5.568 Million
IEC No.:	Not Available
TIN No.:	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Sole Proprietary Concern
Line of Business :	Distributor and Trader of Pharmaceutical products.
No. of Employees :	7 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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 company can be considered for business dealings at usual business 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

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. Sushant Shekhar
Designation :	Proprietor
Contact No.:	91-9431012752
Date :	03.05.2015

LOCATIONS

Registered Office :	150/B, Arya Kumar Road, Rajendra Nagar, Patna – 800016, Bihar, India
Tel. No.:	91-612-2665069
Mobile No.:	91-9431012752 (Mr. Sushant Shekhar)
Fax No.:	91-612-2665473
E-Mail :	Aaditya_biotech@rediffmail.com info@aadityabiotech.com
Website :	http://www.aadityabiotech.com

SOLE PROPRIETOR

Name :	Mr. Sushant Sajjan Shekhar
Designation :	Proprietor
Date of Birth/Age :	12.04.1979
PAN No.:	ALZPS8040E

BUSINESS DETAILS

Line of Business :	Distributor and Trader of Pharmaceutical products.
Products :	Pharmaceutical products
Brand Names :	Not Available
Agencies Held :	Roche products (India) Private Limited Novartis India Limited H and H Pharmaceutical Private Limited MSD Pharmaceutical Private Limited
Exports :	Not Available
Imports :
Products :	Homecare Medical Device
Countries :	USA
Terms :
Selling :	Cash and Credit (30/60/90 Days)
Purchasing :	Cash and Credit (30/60/90 Days)

GENERAL INFORMATION

Suppliers :

Reference :	H and H Pharmaceutical Private Limited
Name of the Person :	Mr. Saroj Padhi
Contact No.:	91-9437003470
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	CGSS, Patna, Bihar, India
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 :

7 (Approximately)

Bankers :

Banker Name	Canara Bank
Branch Address	Rajendra Nagar, Patna, Bihar, 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)	Overdraft = Rs.10.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	D. Prasad and Associates Chartered Accountants
Address :	Patna, Bihar, India
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Capital Agency Address: 150/B, Arya Kumar Road, Rajendra Nagar, Patna – 800016, Bihar, India Line of Business: Distributor and Trader of Pharmaceutical products. Astro Medicare Private Limited Address: 150/B, Arya Kumar Road, Rajendra Nagar, Patna – 800016, Bihar, India Line of Business: Distributor and Trader of Pharmaceutical products. P. R. Enterprises Address: 150/B, Arya Kumar Road, Rajendra Nagar, Patna – 800016, Bihar, India Line of Business: Distributor and Trader of Pharmaceutical products.

CAPITAL STRUCTURE

As on 31.03.2014

CAPITAL ACCOUNT

Particulars	As on 31.03.2014
As Per Last A/C	3.999
Add: During The Year	1.400
Add: Profit During The year	0.979
	6.378
Less: TDS	0.276
Less: Withdrawals	0.534
Total	5.568

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Proprietor’s Capital		5.568	3.999	3.744
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		5.568	3.999	3.744
LOAN FUNDS
1] Secured Loans		11.293	9.243	6.958
2] Unsecured Loans		7.350	7.602	6.413
TOTAL BORROWING		18.643	16.845	13.371
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		24.211	20.844	17.115
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.837	0.961	0.886
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	17.168	16.117	20.678
	Sundry Debtors	13.960	15.812	13.701
	Cash & Bank Balances	2.807	1.661	3.669
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.405	1.480	2.002
Total Current Assets		34.340	35.070	40.050
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.744	14.546	23.178
	Other Current Liabilities	0.020	0.349	0.073
	Provisions	0.202	0.292	0.570
Total Current Liabilities		10.966	15.187	23.821
Net Current Assets		23.374	19.883	16.229
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		24.211	20.844	17.115

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	132.488	123.068	110.531
		Other Income	2.474	2.940	3.110
		TOTAL	134.962	126.008	113.641
Less	EXPENSES
		Cost of goods sold	127.839	120.060	109.054
		Shop Expenses	0.000	0.043	0.028
		Salary	1.179	0.909	1.053
		Printing and Stationery	0.043	0.034	0.046
		Packing Materials	0.014	0.021	0.018
		Bank Charges and Commission	0.090	0.095	0.093
		Cartage	0.055	0.060	0.046
		Bank Interest	1.451	0.861	0.953
		Transportation	0.100	0.095	0.095
		Rent	0.144	0.144	0.120
		Business Promotion Expenses	0.000	0.180	0.118
		Internet	0.002	0.009	0.001
		Courier Expenses	0.114	0.143	0.102
		Cold Room Repairs and Maintenance	0.003	0.022	0.014
		Computer Maintenance	0.012	0.023	0.009
		Other Expenses	2.753	2.144	0.760
		TOTAL	133.799	124.843	112.510
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.163	1.165	1.131
Less/ Add	DEPRECIATION/ AMORTISATION		0.184	0.218	0.219
	NET PROFIT		0.979	0.947	0.912

The above information has been parted by Mr. Sushant Shekhar (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)	(%)	0.73	0.76	0.82
Return on Total Assets (PBT/Total Assets}	(%)	2.78	2.62	2.22
Return on Investment (ROI) (PBT/Networth)		0.17	0.23	0.24
Debt Equity Ratio (Total Debt /Networth)		3.34	4.21	3.57
Current Ratio (Current Asset/Current Liability)		3.13	2.30	1.68

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Proprietor’s Capital	3.744	3.999	5.568
Reserves & Surplus	0.000	0.000	0.000
Net worth	3.744	3.999	5.568
Secured Loans	6.958	9.243	11.293
Unsecured Loans	6.413	7.602	7.350
Total borrowings	13.371	16.845	18.643
Debt/Equity ratio	3.571	4.212	3.348

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	110.531	123.068	132.488
		11.343	7.654

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	110.531	123.068	132.488
Profit	0.912	0.947	0.979
	0.83%	0.77%	0.74%

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 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	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----------
22]	Litigations that the firm / promoter involved in	-----------
23]	Banking Details	Yes
24]	Banking facility details	No
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	Yes
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.63.84
UK Pound	1	Rs.98.46
Euro	1	Rs.71.51

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	SAN
Report Prepared by :	PNM

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	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.