MIRA INFORM REPORT

Report No. :	312342.2
Report Date :	20.05.2015

IDENTIFICATION DETAILS

Name :	RITESHA DISTRIBUTORS
Registered Office :	LG-37, Meerjan Lane, Naya Gaon East, Lucknow – 226018, Uttar Pradesh
Mobile No.:	91-9839063683 (Mr. Ritesh Rastogi)
Country :	India
Financials (as on) :	31.03.2014
Date of incorporation:	21.01.2009
Capital Investment / Paid-up Capital :	Rs. 2.149 Million
IEC No.:	09850008658
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAKFR8846H
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Distributor of medicines.
No. of Employees :	7 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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 partnership concern having satisfactory track record. The concern has shown a growth in it’s turnover during FY 2014. General financial position of the concern is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payment terms reported to be usually correct. The concern can be considered for business dealing 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 – 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. Ritesh Rastogi
Designation :	Partner
Contact No.:	91-9839063683

LOCATIONS

Registered Office :	LG-37, Meerjan Lane, Naya Gaon East, Lucknow – 226018, Uttar Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9839063683 / 9559594929 (Mr. Ritesh Rastogi)
Fax No.:	Not Available
E-Mail :	riteshadistributor@gmail.com
Location :	Owned

PARTNERS

Name :	Mr. Ritesh Rastogi
Designation :	Partner
Address :	230/36, Degwali Gali, Raza Bazar, Lucknow - 226003, Uttar Pradesh, India
Name :	Mr. Akhil Jai Prakash Rastogi
Designation :	Partner
Date of Birth:	10.12.1962
PAN No.:	AEYPR0115F
Address :	464/57 Tahseen Ganj, Hardoi Road, Lucknow - 226003, Uttar Pradesh, India
Name :	Mr. Atul Rastogi
Designation :	Partner
Date of Birth:	26.09.1963
PAN No.:	AAWPR7601J
Address :	464/57 Tahseen Ganj, Hardoi Road, Lucknow - 226003, Uttar Pradesh, India

BUSINESS DETAILS

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

GENERAL INFORMATION

Suppliers :

Reference :

Dhruva Drugs – Kanpur

Name of the Person :

Mr. Vinay Dwivedi – Proprietor

Contact No.:

91-9936781977

Since How Long Known :

3 Years

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Good	Excellent	Excellent

Remark:

As claimed by Mr. Vinay Dwivedi (Proprietor) that the subject is well known company in market. They make payment in 21 days, very good company.

Customers :

Retailers

Reference :

Dhruva Drugs , Kanpur

Name of the Person :

Mr. Vinay Dwivedi, Proprietor

Contact No.:

91-9936781977

Since How Long Known :

3 Years

Maximum Limit Dealt :

Yearly Rs.0.800 Million

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark:

As claimed by Mr. Vinay Dwivedi (Proprietor) that the subject company product quality is very good and their services is very good, very much satisfied.

• N R Pharma
• Dhruva Drugs
• Garima Marketing India Private Limited
• H R Pharma
• Kriti Pharmacy
• Royal Cancer Institute
• Vimal Distributors
• Prem Medical Store
• Chaddha Chemist
• Sagr Distributors

No. of Employees :

7 (Approximately)

Bankers :

Bank Name	ICICI Bank
Branch	177/15, Gwyne Road, Aminabad, Lucknow, Uttar Pradesh, 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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	Pawan Ganga and Company Chartered Accountants
Address :	302, Murali Bhawan, 10-A, Ashok Marg, Lucknow, Uttar Pradesh, India
Email:	camayankmehrotra@gmail.com
Memberships :	--
Collaborators :	--
Sister Concern :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Capital Investment :
Owned :	Rs. 2.149 Million
Borrowed :	--
Total :	Rs. 2.149 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
PARTNER’S FUNDS
1] Partner’s Capital		2.149	1.593	1.240
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		2.149	1.593	1.240
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		1.759	1.564	0.464
TOTAL BORROWING		1.759	1.564	0.464
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3.908	3.157	1.704
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.887	0.871	0.014
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	3.821	0.466	3.621
	Sundry Debtors	5.327	4.335	2.926
	Cash & Bank Balances	1.476	1.392	0.448
	Other Current Assets	0.281	0.104	0.104
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		10.905	6.297	7.099
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.832	3.939	5.327
	Other Current Liabilities	0.033	0.072	0.082
	Provisions	0.019	0.000	0.000
Total Current Liabilities		7.884	4.011	5.409
Net Current Assets		3.021	2.286	1.690
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3.908	3.157	1.704

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	61.498	29.495	22.140
		Other Income	0.000	0.011	0.000
		TOTAL	61.498	29.506	22.140
Less	EXPENSES
		Cost of Goods Sold	59.602	28.507	21.405
		Salary	0.737	0.305	0.322
		Accounting Charges	0.048	0.024	0.024
		Audit Fees	0.010	0.010	0.010
		Partners Interest	0.191	0.149	0.097
		Rent and Taxes	0.072	0.036	0.036
		Legal Expenses	0.004	0.020	0.010
		Packing and Forwarding	0.000	0.004	0.006
		Salary and Bonus to partners	0.282	0.192	0.150
		Business Promotion	0.007	0.011	0.000
		Staff Welfare	0.012	0.009	0.015
		Other Expenses	0.342	0.153	0.057
		TOTAL	61.307	29.420	22.132
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.191	0.086	0.008
Less/ Add	DEPRECIATION/ AMORTISATION		0.153	0.075	0.002
	NET PROFIT		0.038	0.011	0.006

Particulars	31.03.2015
Sales Turnover (Approximately)	67.800

The above information has been parted by Mr. Ritesh Rastogi (Partner)

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
PAT / Total Income	(%)	0.06	0.04	0.03
Return on Total Assets (PBT/Total Assets}	(%)	0.32	0.15	0.08
Return on Investment (ROI) (PBT/Networth)		0.02	0.01	0.00
Debt Equity Ratio (Total Debt /Networth)		0.82	0.98	0.37
Current Ratio (Current Asset/Current Liability)		1.38	1.57	1.31

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)
Partner’s Capital	1.240	1.593	2.149
Reserves & Surplus	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1.240	1.593	2.149
Secured Loans	0.000	0.000	0.000
Unsecured Loans	0.464	1.564	1.759
Total borrowings	0.464	1.564	1.759
Debt/Equity ratio	0.374	0.982	0.819

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	22.140	29.495	61.498
		33.220	108.503

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	22.140	29.495	61.498
Profit	0.006	0.011	0.038
	0.03%	0.04%	0.06%

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 four 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	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	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	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

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PROJECT FIGURE

Particulars	31.03.2017	31.03.2016
Sales Turnover (Approximately)	85.000	75.000

------------------------------------------------------------------------------------------------------------------------------

NOTE :

· Auditor’s confirmation report attached.

· Deed of partnership file attached

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.63.69
UK Pound	1	Rs.99.73
Euro	1	Rs.71.90

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	SNT

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
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		44

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.