MIRA INFORM REPORT

Report No. :	312918
Report Date :	19.05.2015

IDENTIFICATION DETAILS

Name :	MEDIWORLD PHARMA
Registered Office :	32-E, Tagore Nagar, Opposite New DMC, Ludhiana – 141001, Punjab
Tel. No.:	91-161-5015636
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	2007
Capital Investment / Paid-up Capital :	Rs.1.680 Million
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Trader of Pharmaceutical Products.
No. of Employees :	2 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established partnership concern having moderate track. There seems continuous declined in the sales volume and profitability of the concern from last two years. However, trade relations are fair. Business is active. Payment terms are slow but correct. The concern can be considered for business dealings with some caution.

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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. Ravinder Singh
Designation :	Partner
Contact No.:	91-9815006742
Date :	16.05.2015

LOCATIONS

Registered Office :	32-E, Tagore Nagar, Opposite New DMC, Ludhiana – 141001, Punjab, India
Tel. No.:	91-161-5015636
Mobile No.:	91-9815006742 (Mr. Ravinder Singh)
Fax No.:	Not Available
E-Mail :	Singh.ravee@gmail.com
Area :	225 Sq.ft.
Location :	Rented

PARTNERS

Name :	Mr. Major Singh
Designation :	Partner
Address :	06.08.1947
Date of Birth/Age :	H.No.1151/1A, Vishal Nagar, Pakhowal Road, Ludhinana, Punjab, India
Qualification :	ITI
Experience :	7 Years
PAN No.:	AIYPS0328R
Name :	Mr. Ravinder Singh
Designation :	Partner
Address :	H.No.1151/1A, Vishal Nagar, Pakhowal Road, Ludhinana, Punjab, India
Date of Birth/Age :	29.04.1977
Qualification :	MBA
Experience :	7 Years
PAN No.:	ARSPS1369R

BUSINESS DETAILS

Line of Business :	Trader of Pharmaceutical Products.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash
Purchasing :	Cash and Credit (30 days)

PRODUCTION STATUS : NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Khuranna Medicose

Name of the Person :

Mr. Kamal Jeet [Partner]

Contact No.:

91-9464643038

Since How Long Known :

9 Years

Maximum Limit Dealt :

Rs.0.100 Million

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark:

Mr. Kamal Jeet informed that they are satisfied with their payment beheviour.

Customers :

Retailers, End Users and Others [Doctors]

Reference :

Gastro Gyno Clinic

Name of the Person :

Mr. Inder [Assistant]

Contact No.:

91-9501704795

Since How Long Known :

3 Years

Maximum Limit Dealt :

Rs.15.000 Million p.a.

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark:

Mr. Inder informed that they are satisfied with their product quality and delivery behaviour.

No. of Employees :

2 (Approximately)

Bankers :

Bank Name	Oriental Bank of Commerce
Branch	Civil Lines
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Mediworld Pharma
Account Number	07135011000299
Account Since (Date/Year of Account Opening)	2007
Average Balance Maintained (If Possible)	Rs.0.100 Million
Credit Facilities Enjoyed (If any)	Over Draft : Rs.29.400 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Loans from Oriental Bank of Commerce	0.281	0.254
Total	0.281	0.254

Auditors :
Name :	Harinder Ahuja and Associates Chartered Accountants
Address :	2^ND Floor, Jai Singh Complex, 595, Model Town, Near Niligir Hotel, Ludhiana, Punjab, India
Tel. No.:	91-161-4623023
E-Mail :	harinderahuja@gmail.com info@harinderahuja.com
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

CAPITAL ACCOUNT

PARTICULARS		Amount [Rs. In Million]
Ravinder Singh		1.078
Major Singh		0.602
	Total	1.680

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
PARTNERS FUNDS
1] Partners’ Capital		1.680	1.322	1.154
2] Share Application Money		0.000	0.000	0.000
3] Profit and Loss Account		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.680	1.322	1.154
LOAN FUNDS
1] Secured Loans		0.281	0.254	0.250
2] Unsecured Loans		0.017	0.017	0.117
TOTAL BORROWING		0.298	0.271	0.367
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1.978	1.593	1.521
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.050	0.058	0.067
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	2.289	2.026	1.697
	Sundry Debtors	0.005	0.001	0.001
	Cash & Bank Balances	0.024	0.011	0.248
	Other Current Assets	0.001	0.001	0.000
	Loans & Advances	0.042	0.043	0.066
Total Current Assets		2.361	2.082	2.012
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.395	0.499	0.523
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.038	0.048	0.035
Total Current Liabilities		0.433	0.547	0.558
Net Current Assets		1.928	1.535	1.454
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1.978	1.593	1.521

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1.908	2.483	3.144
	Other Income	0.069	0.102	0.120
	TOTAL	1.977	2.585	3.264
Less	EXPENSES
	Cost of Goods Sold	1.607	2.206	2.876
	Rent	0.221	0.211	0.200
	salary	0.048	0.054	0.054
	Salaries to Partner	0.036	0.040	0.050
	Insurance Expenses	0.000	0.004	0.004
	Telecom Expenses	0.011	0.014	0.015
	Fees and Taxes	0.000	0.001	0.000
	Audit Fees	0.000	0.000	0.006
	Round Off	0.000	0.000	0.000
	Electricity Expense	0.011	0.010	0.012
	Misc. Expenses	0.000	0.001	0.000
	Bank Charges	0.001	0.002	0.002
	Computer and Maintenance	0.000	0.003	0.000
	Printing and Stationary	0.000	0.000	0.001
	Interest on Capital	0.000	0.000	0.000
	Interest on OD	0.032	0.028	0.028
	TOTAL	1.967	2.574	3.248
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.010	0.011	0.016
Less/ Add	DEPRECIATION/ AMORTISATION	0.008	0.009	0.012
	NET PROFIT/ (LOSS)	0.002	0.002	0.004

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.10	0.08	0.13
Operating Profit Margin (PBIDT/Sales)	(%)	0.52	0.44	0.51
Return on Total Assets (PBT/Total Assets}	(%)	0.08	0.09	0.19
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Debt /Networth)		0.18	0.20	0.32
Current Ratio (Current Asset/Current Liability)		5.45	3.81	3.61

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)
Partners’ Capital	1.154	1.322	1.680
Profit and Loss Account	0.000	0.000	0.000
Net worth	1.154	1.322	1.680
Secured Loans	0.250	0.254	0.281
Unsecured Loans	0.117	0.017	0.017
Total borrowings	0.367	0.271	0.298
Debt/Equity ratio	0.318	0.205	0.177

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	3.144	2.483	1.908
		(21.024)	(23.157)

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	3.144	2.483	1.908
Profit	0.004	0.002	0.002
	0.13%	0.08%	0.10%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
5	Buyer visit details	Yes
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

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UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Term Loans from Others	0.017	0.017
Total	0.017	0.017

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NETWORTH STATEMENT

MR. RAVINDER SINGH

[RS. IN MILLION]

ASSETS DETAILS

PARTICULARS	AMOUNT
Capital in Firm	1.079
Cash in hand	0.020
Cash in bank	0.010
Shares	0.000
Home	0.000
HouseHold Items	0.050
Car	0.300
Motor cycle/ Scooter	0.025
Jewellery	0.080
TOTAL	1.564

LIABILITIES DETAILS

PARTICULARS	AMOUNT
Unsecured Loan	0.080
Firm Liability - Sundry Creditors	0.316
TOTAL	0.396
NET WORTH	1.168

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NETWORTH STATEMENT

MR. MAJOR SINGH

[RS. IN MILLION]

ASSETS DETAILS

PARTICULARS	AMOUNT
Capital in Firm	0.601
Cash in hand	0.035
Cash in bank	0.050
Shares	0.500
Home	8.000
HouseHold Items	0.300
Car	0.000
Motor cycle/ Scooter	0.015
Jewellery	0.300
TOTAL	9.801

LIABILITIES DETAILS

PARTICULARS	AMOUNT
Unsecured Loan	0.000
Firm Liability - Sundry Creditors	0.079
TOTAL	0.079
NET WORTH	9.722

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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.63.55
UK Pound	1	Rs.99.86
Euro	1	Rs.72.67

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	SUM
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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		26

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.