MIRA INFORM REPORT

Report No. :	312460
Report Date :	14.05.2015

IDENTIFICATION DETAILS

Name :	MONICA ENTERPRISES
Registered Office :	Room No. 1210, Meenakshi Mission Hospital Campus, Lake Area, Melur Main Road, Madurai – 625107, Tamilnadu
Tel. No.:	91-9965588494
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.05.2005
Capital Investment / Paid-up Capital :	Rs.16.075 Million
IEC No.:	Not Available
TIN No.:	33554941454
PAN No.: [Permanent Account No.]	ADSPJ6685K
Legal Form :	Sole Proprietary Concern
Line of Business :	Distributor of Medicine.
No. of Employees :	9 (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. 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 (GENERAL DETAILS)

Name :	Mr. M. Murli Krishnan
Designation :	Manager
Contact No.:	91-9965588494
Date :	22.04.2015

LOCATIONS

Registered Office :	Room No. 1210, Meenakshi Mission Hospital Campus, Lake Area, Melur Main Road, Madurai – 625107, Tamilnadu, India
Tel. No.:	Not Available
Mobile No.:	91-9842946494 (Mr. T. John Rajasekar) 91-9965588494 (Mr. M. Murli Krishnan)
Fax No.:	Not Available
E-Mail :	monicatowers10@gmail.com adhkrishnan@gmail.com
Area :	940 Sq. Ft.
Location :	Leased

SOLE PROPRIETOR

Name :	Mr. T. John Rajasekar
Designation :	Proprietor
Address :	8, Lordu Nagar, 6^th Street, K. Pudur, Madurai – 625007, Tamilnadu, India
Date of Birth/Age :	31.08.1971
Qualification :	B.A.
Experience :	20 Years

KEY EXECUTIVES

Name :	Mr. M. Murli Krishnan
Designation :	Manager

BUSINESS DETAILS

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

GENERAL INFORMATION

Suppliers :

Reference :

M/s Meenaskhi Mission Hospital Madurai

Name of the Person :

Mr. Samuvel (Pharmacy Manager)

Contact No.:

91-9842111146

Since How Long Known :

2010 onwards

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Good	Good

Maximum Limit Dealt :

Not Divulged

Remark :

They gave us positive response about subject company they are satisfied with their payment behaviour and market goodwill.

Customers :

Reference :

M/s Heal ‘n’ Care C/F for IPCA Laboratories

Name of the Person :

Mr. Prakash

Contact No.:

91-9791057761

Since How Long Known :

From 2008 onwards

Experience :

Product Quality	Delivery Behaviour	Overall
Excellent	Good	Good

Maximum Limit Dealt :

Not Divulged

Remark :

They gave us positive response about subject company they are satisfied with their product quality and delivery behaviour.

Reference :	M/s Gland Pharma
Name of the Person :	Mr. Vinoth Aree (Business Manager)
Contact No.:	91-9380336868
Since How Long Known :	2012 onwards
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

No. of Employees :

9 (Approximately)

Bankers :

Banker Name	South Indian Bank
Branch Address	Main Branch
Person Name (With Designation)	A.Lawrence Peter (Assistant Manager)
Contact Number	91-8608442287
Name of Account Holder	Monica Enterprises
Account Number	0044083000001962
Account Since (Date/Year of Account Opening)	23.12.2005
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Cash Credit = Rs.5.000 Million
Account Operation	Satisfactory
Remarks (If any)	They gave us positive response about subject company they are satisfied with their banking transaction.

Auditors :
Name :	Paran Jothi Chartered Accountant
Address :	No. 37, Old Kuyavarpalayam Road, Near Petroi Bunk, Madurai – 625009, Tamilnadu, India
Tel. No.:	91-452-6526400
E-Mail :	paranchothi@gmail.com
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Monica Surgicals Address: No.40, Ground Floor, Krishnarayar Tank Street, Madurai – 625001, Tamilnadu, India Line of Business: Dealing with all type of pharma products Monicka Pharmaceuticals Address: No.40, First Floor, Krishnarayar Tank Street, Madurai – 625001, Tamilnadu, India Line of Business: Dealing with all type of pharma products

CAPITAL STRUCTURE

As on 31.03.2014

Particular	Rs. In Million
Mr. T. John Rajasekar	14.575
Capital Account	1.500
Total	16.075

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 Capital		14.575	14.139	9.416
2] Capital Account		1.500	1.500	1.500
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		16.075	15.638	10.916
LOAN FUNDS
1] Secured Loans		8.156	7.378	1.287
2] Unsecured Loans		0.002	0.002	0.002
TOTAL BORROWING		8.158	7.380	1.289
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		24.233	23.018	12.205
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		21.761	6.887	6.613
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		2.900	2.612	2.644
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.798	5.680	4.907
	Sundry Debtors	22.620	35.656	28.371
	Cash & Bank Balances	6.076	0.597	1.191
	Other Current Assets	8.842	6.742	5.185
	Loans Advances & Deposit	17.286	17.329	16.904
Total Current Assets		62.622	66.004	56.558
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	61.707	51.838	29.986
	Other Current Liabilities	1.343	0.647	23.624
	Provisions	0.000	0.000	0.000
Total Current Liabilities		63.050	52.485	53.610
Net Current Assets		(0.428)	13.519	2.948
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		24.233	23.018	12.205

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	418.098	377.380	317.074
		Other Income	0.531	0.105	0.676
		TOTAL	418.629	377.485	317.750
Less	EXPENSES
		Cost of Goods Sold	388.747	353.641	301.058
		Unloading Charges	1.516	1.139	0.550
		Bonus	0.861	0.479	0.359
		Computer Maintenance	0.616	0.443	1.750
		Petrol Expenses	1.440	1.092	0.000
		Salary to Staff	5.166	5.275	4.313
		Sales Promotional Expenses	2.002	1.777	1.551
		Staff Welfare	2.081	2.222	1.198
		Travelling Expenses	2.259	2.117	1.292
		Vehicle Expenses	2.142	1.753	0.444
		Others Expenses	5.381	3.559	2.210
		TOTAL	412.211	373.497	314.725
	PROFIT BEFORE DEPRECIATION AND AMORTISATION		6.418	3.988	3.025
Less/ Add	DEPRECIATION/ AMORTISATION		0.006	0.010	0.022
	NET PROFIT		6.412	3.978	3.003

The above information has been parted by Mr. M. Murli Krishnan (Manager).

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)	(%)	1.53	1.05	0.94
Return on Total Assets (PBT/Total Assets}	(%)	7.59	5.45	4.75
Return on Investment (ROI) (PBT/Networth)		0.39	0.25	0.27
Debt Equity Ratio (Total Debt /Networth)		0.50	0.47	0.11
Current Ratio (Current Asset/Current Liability)		0.99	1.25	1.05

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	10.916	15.638	16.075
Reserves & Surplus	0.000	0.000	0.000
Net worth	10.916	15.638	16.075
Secured Loans	1.287	7.378	8.156
Unsecured Loans	0.002	0.002	0.002
Total borrowings	1.289	7.380	8.158
Debt/Equity ratio	0.118	0.472	0.507

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	317.074	377.380	418.098
		19.020	10.790

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	317.074	377.380	418.098
Profit	3.003	3.978	6.412
	0.95%	1.05%	1.53%

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	Yes
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	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)	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

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.64.18
UK Pound	1	Rs.100.57
Euro	1	Rs.72.07

INFORMATION DETAILS

Information Gathered by :	PRT
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	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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.