MIRA INFORM REPORT

Report No. :	324635
Report Date :	30.05.2015

IDENTIFICATION DETAILS

Name :	PREMIER MEDICAL SYSTEMS AND DEVICES PRIVATE LIMITED
Registered Office :	101, Pal House, New Delhi - 110065
Tel. No.:	91-120-4278428
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.05.1987
Com. Reg. No.:	55-027888
Capital Investment / Paid-up Capital :	Rs.5.900 Million
CIN No.: [Company Identification No.]	U65910DL1987PTC027888
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELP00965G
PAN No.: [Permanent Account No.]	AAACP3674J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Medical Equipment.
No. of Employees :	Information declined by the management

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 was established the year 1987 and is having satisfactory track record. Subject is engaged in field of Respiratory Care Products. The general financial position of the company seem to be sound and healthy. Further rating taken into comfort on company’s established track record of its business operations and extensive experienced of promoter into its industry. Trade relation are fair. Business is active. Payment are reported to be usually correct. The company can be considered for business dealings with its 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 DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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 DECLINED BY

Name :	Mr. Kalpa Kumar Ghosh
Designation :	Director
Contact No.:	91-8373903735
Date :	27.05.2015

LOCATIONS

Registered Office:	101, Pal House, New Delhi – 110065, India
Tel. No.:	Not Available
Mobile No.:	91-8373903735 (Mr. Kalpa Kumar Ghosh)
Fax No.:	Not Available
E-Mail :	kbose@kbgassociates.biz Medisys123@gmail.com
Website:	www.medisyscare.com
Factory :	A-113, Sector 63, Noida – 201307, Uttar Pradesh, India
Tel. No.:	91-120-4278428/4278429/4278430

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Bhaskar Banerjee
Designation :	Director
Address :	H-14, Flat No. 108, Himgiri Apartments, Kalkaji Extension, New Delhi – 110019, India
Date of Birth/Age :	14.01.1951
Date of Appointment :	08.05.1987
DIN No.:	00369391
Name :	Mr. Kalpa Kumar Ghosh
Designation :	Director
Address :	86, Vardaan Apartments, 64, I.P. Extension, New Delhi – 110092, India
Date of Birth/Age :	08.08.1954
Date of Appointment :	08.05.1987
DIN No.:	02606039
Name :	Mr. Alok Mazumder
Designation :	Director
Address :	C-1, Flat No. 505, 5th Floor, Mayfair Tower, Charmwood, Faridabad – 121009, Haryana, India
Date of Birth/Age :	14.01.1951
Date of Appointment :	08.05.1987
DIN No.:	00369489
Name :	Mr. Kalyan Kumar Sengupta
Designation :	Director
Address :	H-11B, Sector-41, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh, India
Date of Birth/Age :	11.11.1950
Date of Appointment :	08.05.1987
DIN No.:	02605027

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Alok Mazumder	147500	25.00
Bhaskar Banerjee	147500	25.00
Kalpa Kumar Ghosh	147500	25.00
Kalyan Kumar Sengupta	147500	25.00
Total	590000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Medical Equipment.
Products :	Medical Equipment
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the management

Bankers :

Banker Name	State Bank of India
Branch Address	6, Ring Road, Lajpat Nagar-IV, New Delhi - 110024, Delhi, 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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Cash credit Facility from banks	10.463	1.670
Total	10.463	1.670
NOTE: Cash credit facility represent the loan taken from SBI, Commercial Branch Nehru Place, New Delhi which is secured against the first equitable mortgage on land and building situated at A – 113, Sector – 63, Noida (Uttar Parades) and first charges on stock and book debts, both present and future. The said remaining loan is repayable in three equal quarterly installment.

Auditors :
Name :	KBG Associates Chartered Accountant
Address :	D-583, Chittaranjan Park, New Delhi – 110019, India
Tel. No.:	91-11-26276693-98
Fax No.:	91-11-26277401
E-Mail :	info@kbgassociates.biz
PAN No.:	AAEFA3998H
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
600000	Equity Shares	Rs.10/- each	Rs. 6.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
590000	Equity Shares	Rs.10/- each	Rs. 5.900 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	5.900	5.900	5.900
(b) Reserves & Surplus	33.518	33.074	29.432
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	39.418	38.974	35.332
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.499	0.000	0.515
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	5.476	4.742	3.969
Total Non-current Liabilities (3)	5.975	4.742	4.484
(4) Current Liabilities
(a) Short term borrowings	10.463	1.670	1.787
(b) Trade payables	20.279	19.452	18.203
(c) Other current liabilities	2.104	5.683	3.579
(d) Short-term provisions	0.190	0.051	0.048
Total Current Liabilities (4)	33.036	26.856	23.617
TOTAL	78.429	70.572	63.433
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.680	14.060	14.564
(ii) Intangible Assets	0.343	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.269	0.000
(d) Long-term Loan and Advances	3.706	2.684	2.261
(e) Other Non-current assets	9.248	0.000	0.000
Total Non-Current Assets	26.977	17.013	16.825
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	14.237	10.220	9.412
(c) Trade receivables	32.703	39.926	33.132
(d) Cash and cash equivalents	1.447	0.460	0.388
(e) Short-term loans and advances	2.627	2.862	3.618
(f) Other current assets	0.438	0.091	0.058
Total Current Assets	51.452	53.559	46.608
TOTAL	78.429	70.572	63.433

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	98.973	91.652	82.898
	Other Income	1.947	1.096	0.797
	TOTAL (A)	100.920	92.748	83.695
Less	EXPENSES
	Cost of Materials Consumed	48.608	43.585	34.256
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1.213)	(0.887)	4.469
	Employees benefits expense	30.627	26.037	24.629
	Other expenses	19.144	17.437	13.167
	TOTAL (B)	97.166	86.172	76.521
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	3.754	6.576	7.174
Less	FINANCIAL EXPENSES (D)	1.306	0.788	0.932
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	2.448	5.788	6.242
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.681	0.647	0.639
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	1.767	5.141	5.603
Less	TAX (H)	1.323	1.500	3.114
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	0.444	3.641	2.489
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	0.984	0.816	0.686
	TOTAL EARNINGS	0.984	0.816	0.686
	IMPORTS
	Raw Materials and Components	0.743	0.078	0.309
	TOTAL IMPORTS	0.743	0.078	0.309
	Earnings / (Loss) Per Share (Rs.)	1.00	6.17	4.22

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt (Note)	--	--	--
Cash generated from operations	NA	NA	NA

NOTE: Long term Loan represent the loan taken from SBI, Commercial Branch, Nehru Plce, New Delhi which is secured against the first equitable mortgage on land and building situated at A-113, Sector 63, Noida, Uttar Pradesh, India. The said remaining loan is repayable in three equal quarterly installment.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.45	3.97	3.00
Operating Profit Margin (PBIDT/Sales)	(%)	3.79	7.17	8.65
Return on Total Assets (PBT/Total Assets}	(%)	2.25	7.31	8.83
Return on Investment (ROI) (PBT/Networth)		0.04	0.13	0.16
Debt Equity Ratio (Total Debt /Networth)		0.27	0.04	0.05
Current Ratio (Current Asset/Current Liability)		1.56	1.99	1.97

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	5.900	5.900	5.900
Reserves & Surplus	29.432	33.074	33.518
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	35.332	38.974	39.418
long-term borrowings	0.000	0.000	0.000
Short term borrowings	1.787	1.670	10.463
Total borrowings	1.787	1.670	10.463
Debt/Equity ratio	0.051	0.043	0.265

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	82.898	91.652	98.973
		10.560	7.988

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	82.898	91.652	98.973
Profit	2.489	3.641	0.444
	3.00%	3.97%	0.45%

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	No
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	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
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	Yes
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	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10032444	24/09/2013 *	17,000,000.00	STATE BANK OF INDIA	6, RING ROAD, LAJPAT NAGAR-IV, NEW DELHI, DELHI - 110024, INDIA	B87976080

* Date of charge modification

FIXED ASSETS

• Land
• Building
• Machinery
• Plastic Moulding and Dies
• Printing Block
• Fire Extinguisher
• Generator
• Office equipment
• Testing Equipment
• Furniture and Fixture
• Scooter
• Cycle
• Computer
• Cars

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.63.76
UK Pound	1	Rs.97.80
Euro	1	Rs.69.91

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAS
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	YES
--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.