MIRA INFORM REPORT

Report No. :	312280
Report Date :	16.05.2015

IDENTIFICATION DETAILS

Name :	GUPTA BROTHERS
Registered Office :	SCO - 62, First Floor, Sector 15 - D, Chandigarh – 160017
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	2009
Capital Investment / Paid-up Capital :	Rs. 3.964 Million
IEC No.:	Not Available
TIN No.:	4310034204
PAN No.: [Permanent Account No.]	AEVPB5477R
Legal Form :	Sole Proprietary Concern
Line of Business :	Dealer, Trader and Distributor of allopathic medicines (Wholesale and retail)
No. of Employees :	6 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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 a satisfactory track record. It has fair profit margin and good liquidity position during FY2014. 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 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. Ashish Gupta
Designation :	Chief Executive Officer
Contact No.:	91-9855420071
Date :	12.05.2015

LOCATIONS

Registered Office :	SCO - 62, First Floor, Sector 15 - D, Chandigarh – 160017, India
Tel. No.:	91-172-5061957
Mobile No.:	91-9855420071 (Mr. Ashish Gupta)
Fax No.:	Not Available
E-Mail :	ashishgupta747@hotmail.com
Location :	Rented

SOLE PROPRIETOR

Name :	Mrs. Nancy Gupta
Designation :	Proprietor
Address :	Flat no. 404, Mangolia tower, Mayfair society, Sector – 70, Mohali – 160071, Punjab, India
Date of Birth/Age :	33 Years
Qualification :	B.D.S.
Experience :	10 Years

KEY EXECUTIVES

Name :	Mr. Ashish Gupta
Designation :	Chief Executive Officer

BUSINESS DETAILS

Line of Business :	Dealer, Trader and Distributor of allopathic medicines (Wholesale and retail)
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Roche India Aller Gan Novartis India Reliance Life Science
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Credit (90 Days)
Purchasing :	Credit (30 Days)

GENERAL INFORMATION

Suppliers :

• Abbot India Limited
• Alkhem Laboratories
• Bicon Limited
• Claries Life Sceince
• Nirma Limited
• Roche India Products Private Limited
• Novartis India Limited
• Reliance Life Science India
• Samarth Life Care
• Gland Pharma

Reference :	Allergan Healthcare Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Wholesaler and Retailers

• IVY Hospitals
• Command Hospital
• Fortis Hospital
• Max Superspeicality Hospital
• Alchemist Hospital, Panchkula
• Gian Sagar Medical college and Hospital
• Columbia Asia Hospital, Patiala
• Mayo Hospital, Mohali

Reference :	Mukat Hospital, Chandigarh
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 :

6 (Approximately)

Bankers :

Banker Name	Indian Overseas Bank
Branch Address	Sector 22 D, Chandigarh, Punjab, India
Person Name (With Designation)	Mr. Grover (Branch Manager)
Contact Number	91-9876637572
Name of Account Holder	Gupta Brothers
Account Number	208302000003537
Account Since (Date/Year of Account Opening)	June 2006
Average Balance Maintained (If Possible)	Rs. 4.000 Million
Credit Facilities Enjoyed (If any)	Cash Credit = Rs. 4.000 Million
Account Operation	Current Account
Remarks (If any)	Not Divulged

Auditors :
Name :	VK Jindal and Associates Chartered Accountants
Address :	House no. 3157, Sector 27-D, Chandigarh, Punjab, India
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on: 31.03.2014

CAPITAL INVESTMENT / PROPRIETORS CAPITAL ACCOUNTS:

PARTICULARS	Amount (Rs. In Million)
Mrs. Nancy Gupta :	2.775
Add: Addition	0.341
Add: Profit for the year :	1.267
Total	4.383
Less: Drawings	0.419
Total :	3.964

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] Proprietors Capital		3.964	2.775	2.248
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		3.964	2.775	2.248
LOAN FUNDS
1] Secured Loans		3.299	3.997	3.097
2] Unsecured Loans		4.600	1.108	1.090
TOTAL BORROWING		7.899	5.105	4.187
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		11.863	7.880	6.435
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.265	0.199	0.162
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	9.263	4.545	6.920
	Sundry Debtors	11.582	9.467	6.546
	Cash & Bank Balances	0.109	0.354	0.050
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.184	0.000	0.024
Total Current Assets		21.138	14.366	13.540
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9.287	6.568	7.182
	Other Current Liabilities	0.253	0.117	0.085
	Provisions	0.000	0.000	0.000
Total Current Liabilities		9.540	6.685	7.267
Net Current Assets		11.598	7.681	6.273
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		11.863	7.880	6.435

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	96.314	62.166	37.906
	Other Income	0.000	0.000	0.000
	TOTAL	96.314	62.166	37.906
Less	EXPENSES
	Cost of Materials Consumed	92.526	59.408	36.223
	Audit Fees	0.015	0.015	0.007
	Professional Fees	0.011	0.011	0.005
	Bank charges	0.033	0.021	0.054
	Office Rent	0.646	0.620	0.465
	Salary and Wages	0.390	0.260	0.216
	Printing and Stationery	0.008	0.015	0.018
	Accountant Salary	0.084	0.044	0.036
	Office Expenses	0.054	0.038	0.038
	Packing Material	0.186	0.171	0.140
	Postage and Courier	0.047	0.040	0.041
	Telephone expenses	0.039	0.025	0.037
	Interest on unsecured loan	0.390	0.120	0.100
	Cable charges	0.001	0.004	0.004
	Staff Welfare	0.010	0.015	0.009
	Electricity and Water charges	0.073	0.051	0.040
	Travelling and conveyance	0.050	0.038	0.038
	Bank Interest	0.374	0.409	0.000
	Software Expenses	0.013	0.029	0.000
	Stock Insurance	0.013	0.013	0.000
	Project Director	0.037	0.000	0.000
	TDS on Commission	0.001	0.000	0.000
	Bad Debt	0.000	0.000	0.003
			0.002
	TOTAL	95.001	61.349	37.474
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1.313	0.817	0.432
Less/ Add	DEPRECIATION/ AMORTISATION	0.046	0.035	0.028
	NET PROFIT/ (LOSS) BEFORE TAX	1.267	0.782	0.404

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.32	1.26	1.07
Return on Total Assets (PBT/Total Assets}	(%)	5.92	5.37	2.95
Return on Investment (ROI) (PBT/Networth)		0.32	0.28	0.18
Debt Equity Ratio (Total Debt /Networth)		1.99	1.84	1.86
Current Ratio (Current Asset/Current Liability)		4.60	12.97	12.42

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	2.248	2.775	3.964
Reserves & Surplus	0.000	0.000	0.000
Net worth	2.248	2.775	3.964
Secured Borrowing	3.097	3.997	3.299
Unsecured Borrowing	1.090	1.108	4.600
Total borrowings	4.187	5.105	7.899
Debt/Equity ratio	1.863	1.840	1.993

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	37.906	62.166	96.314
		64.000	54.930

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	37.906	62.166	96.314
Profit	0.404	0.782	1.267
	1.07%	1.26%	1.32%

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	No
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	--
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

TRADE REFERENCE

• Avon Media Landmark
• Radha Media, Delhi

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.63.84
UK Pound	1	Rs.100.65
Euro	1	Rs.72.88

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUM
Report Prepared by :	ART

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	6
-- 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		46

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.