MIRA INFORM REPORT

Report No. :	324463
Report Date :	28.05.2015

IDENTIFICATION DETAILS

Name :	NEON (INDIA) MEDICAL AGENCY
Registered Office :	01, Basement Navkar Appartment, Near Dr. Ashutosh Shah’s Hospital, Maninagar, Ahmedabad – 380008, Gujarat
Tel. No.:	91-9374073077 (Mr. Satyajeet Bhatt)
Country :	India
Financials (as on) :	31.03.2014
Date of Establishment :	18.02.2011
Capital Investment :	Rs. 6.344 Million
PAN No.: [Permanent Account No.]	AAIFN4064B
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Trader of Pharma 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

Maximum Credit Limit :	USD 18000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established partnership concern having satisfactory track record. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The concern can be considered for business dealings 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

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. Satyajeet Bhatt
Designation :	Partner
Contact No.:	91-9374073077
Date :	26.05.2015

LOCATIONS

Registered Office :	01, Basement Navkar Appartment, Near Dr. Ashutosh Shah’s Hospital, Maninagar, Ahmedabad – 380008, Gujarat, India
Tel. No.:	91-79-65451456
Mobile No.:	91-9374073077 (Mr. Satyajeet Bhatt)
Fax No.:	Not Available
E-Mail :	neonindiamedical2012@gmail.com
Area :	980 Sq. ft.
Location :	Owned
Locality :	Commercial

PARTNERS

Name :	Mr. Satyajeet Bhatt
Designation :	Partner
Date of Birth/Age :	44 Years
Qualification :	B. Sc.
Experience :	22 Years
Name :	Mrs. Anju Patel
Designation :	Partner
Date of Birth/Age :	62 Years
Qualification :	B.A.
Experience :	1 Years

BUSINESS DETAILS

Line of Business :	Trader of Pharma Products.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	--
Countries :	--
Imports :
Products :	--
Countries :	--
Terms :
Selling :	Cheque [90 Days]
Purchasing :	Cheque [90 Days]

GENERAL INFORMATION

Suppliers :

Reference:	S.K. Logistic
Name of the Person (Designation):	Mr. Ashish Rana [Incharge]
Contact Number:	91-2718-261030 [Continuously Ringing]
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Wholesalers, Retailers and End Users

Reference:	Jivraj Mehta Hospital
Name of the Person (Designation):	Ms. Meena (Purchase Department)
Contact Number:	91-79-26605189
Since how long known:	3 Years
Maximum limit dealt:	--
Experience:	Product Quality = Excellent Delivery Behaviour = Excellent Overall = Excellent
Remark	Ms. Meena informed that they are satisfied with their product quality and delivery behaviour.

No. of Employees :

7 (Approximately)

Bankers :

Bank Name:	State Bank of Patiala
Branch:	Mani Nagar Branch, Ahmedabad, Gujarat, India
Person Name (with Designation):	Mr. Sudhanshu Negi
Contact Number:	91-9408705952
Name of Account Holder:	Neon (India) Medical Agency
Account Number:	--
Account Since (Date/ Year of A/c Opening):	2011
Average Balance Maintained (Optional):	Rs. 3.000 Million
Credit Facilities Enjoyed (CC/OD/Term Loan):	Cash Credit = Rs. 6.000 Million
Account Operation:	Excellent
Remarks: Mr. Sudhanshu informed that the subject company maintaining excellent track record with Banker.

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)
Secured Loans	2.409
Total	2.409

Auditors :
Name :	Parin P. Shah and Company Chartered Accountants
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Capital Investment :
Owned :	Rs. 6.344 Million
Borrowed :	--
Total :	Rs. 6.344 Million

FINANCIAL DATA

[all figures are in Rupees Million]

PARTICULARS	31.03.2015
Sales Turnover (Approximately)	48.900

The above information has been parted by Mr. Satyajeet Bhatt (Partner)

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Partners Capital		6.344	5.319
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		6.344	5.319
LOAN FUNDS
1] Secured Loans		2.409	3.829
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		2.409	3.829
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		8.753	9.148
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.262	1.417
Capital work-in-progress		0.000	0.000
INVESTMENT		0.050	0.050
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	9.136	7.817
	Sundry Debtors	5.575	4.975
	Cash & Bank Balances	0.047	0.279
	Other Current Assets	0.015	0.015
	Loans & Advances	0.144	0.258
Total Current Assets		14.917	13.344
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.475	5.663
	Other Current Liabilities	0.001	0.000
	Provisions	0.000	0.000
Total Current Liabilities		7.476	5.663
Net Current Assets		7.441	7.681
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		8.753	9.148

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	46.650	30.744
		Other Income	0.164	0.120
		TOTAL	46.814	30.864
Less	EXPENSES
		Cost of Goods Sold	42.925	27.746
		Administrative and Selling Expenses	1.505	0.000
		Account Charges	0.000	0.013
		Audit Fees	0.000	0.020
		Bad Debts	0.000	0.015
		Bank Charges	0.000	0.005
		Bonus Expenses	0.000	0.022
		Courier Charges	0.000	0.007
		Donation Expenses	0.000	0.025
		Electricity Bill	0.000	0.033
		Incentive Charges	0.000	0.101
		Insurance Expenses	0.000	0.033
		Interest on Loan	0.000	0.036
		Interest on OD	0.000	0.435
		Interest on Term Loan A/C	0.000	0.058
		Interest to Partners	0.664	0.620
		Interest Charges	0.000	0.009
		Labour Charges	0.000	0.015
		Legal Fees	0.000	0.041
		Miscellaneous Expenses	0.000	0.051
		Mobile Bill 9374073077	0.000	0.009
		Mobile Bill 9601137912	0.000	0.003
		Municipal Tax	0.000	0.019
		Office Expenses	0.000	0.040
		Office Rent	0.000	0.013
		Packaging and Forwarding Expenses	0.000	0.012
		Penalty Charges	0.000	0.002
		Petrol Expenses	0.000	0.095
		Processing Charges	0.000	0.075
		Professional Fees	0.000	0.015
		Remuneration to Partners	0.761	0.509
		Repairing Charges	0.000	0.006
		Salary Expenses	0.000	0.305
		Software Maintenance Expenses	0.000	0.003
		Staff Welfare Expenses	0.000	0.052
		Stationery and Printing Expenses	0.000	0.011
		Tea Expenses	0.000	0.013
		Telephone Bill 65451456	0.000	0.003
		Vehicle Expenses	0.000	0.009
		TOTAL	45.855	30.479
	PROFIT BEFORE INTEREST, DEPRECIATION AND AMORTISATION		0.959	(Including Financial Expenses)
Less	FINANCIAL EXPENSES		0.447
	PROFIT/(LOSS) BEFORE DEPRECIATION AND AMORTISATION		0.512	0.385
Less	DEPRECIATION/ AMORTISATION		0.155	0.177
	NET PROFIT		0.357	0.208

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	0.77	0.68
Operating Profit Margin (PBDIT/Sales)	(%)	2.06	NA
Return on Total Assets (PBT/Total Assets}	(%)	2.21	1.41
Return on Investment (ROI) (PBT/Networth)		0.06	0.04
Debt Equity Ratio (Total Debt/Networth)		0.38	0.72
Current Ratio (Current Asset/Current Liability)		2.00	2.36

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Partners Capital	5.319	6.344
Reserves & Surplus	0.000	0.000
Net worth	5.319	6.344
Secured Loans	3.829	2.409
Unsecured Loans	0.000	0.000
Total borrowings	3.829	2.409
Debt/Equity ratio	0.720	0.380

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	30.744	46.650
		51.737

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	30.744	46.650
Profit	0.208	0.357
	0.68%	0.77%

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	--
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	No
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 two 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

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. 63.95
UK Pound	1	Rs. 98.64
Euro	1	Rs. 69.86

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	SAN
Report Prepared by :	BVA

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	4
--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		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.