MIRA INFORM REPORT

Report No. :	503885
Report Date :	14.04.2018

IDENTIFICATION DETAILS

Name :	KEIMED PRIVATE LIMITED (w.e.f.10.07.2012)
Formerly Known As :	KEIMED LIMITED (w.e.f. 09.05.2001) KEIMED.COM LIMITED
Registered Office :	10-3-316/A, Masab Tank, Hyderabad-500028, Telangana
Tel. No.:	91-40-23253900
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	10.03.2000
Com. Reg. No.:	36-033837
Capital Investment / Paid-up Capital :	INR 59.840 Million
CIN No.: [Company Identification No.]	U72200TG2000PTC033837
IEC No.:	Not Divulged
GST No.:	21AABCK4532F1Z4
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCK4532F
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Pharmaceuticals and Medical Goods. [Registered Activity and also Confirmed by Management]
No. of Employees :	60 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Maximum Credit Limit :	USD 2968700
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Keimed Private Limited is a Trader of Pharmaceutical and Medical Goods. The company was promoted by Ms. Shobana Kamineni (Managing Director) who is a member of the founder family of Apollo Group which have been in the pharmaceutical industry since more than three decades. The company was incorporated in the year 2000 and is based in Hyderabad, Telangana. It is an established company having good track record. For the financial year ended 2017, revenue of the company has declined by (40.19%) (approx.) and profit has declined by (3.62%) (approx.). However, the company possesses sound financial profile marked by healthy net worth base along with negligible debt recorded by company. The company also continues to draw strength from the experienced promoters and management team, established track record in the wholesale pharmaceutical distribution segment. Rating also considered positive feedback received from its customer (Apollo Hospitals Enterprise Limited) for good services provided and supplier (Pfizer Limited), (GlaxoSmithKline Pharmaceuticals Limited) for good payment behaviour and market goodwill and also from its banker (HDFC Bank) for satisfactory banking transaction. The rating strength is partially offset by company presence in highly fragmented and competitive business with competition from both, organized and unorganized players. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitments. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. NOTE: Site visit will be sent in due course.

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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Rating=A-
Rating Explanation	Adequate degree of safety and low credit risk
Date	05.10.2017

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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 14.04.2018.

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY

Name :	Mr. Gajadi Pradeep Kumar
Designation :	Accounts Manager
Contact No.:	91-9000010321
Date :	13.04.2018

LOCATIONS

Registered Office :	10-3-316/A, Masab Tank, Hyderabad-500028, Telangana, India
Tel. No.:	91-40-23253900/ 23253917/ 23253913
Mobile No.:	91-8978622274 [Mr. P. Dasta Giri] 91-7894407155 [Mr. Madhu] 91-9000010321 [Mr. Gajadi Pradeep Kumar]
Fax No.:	91-40-23340181
E-Mail :	info@keimed.com narsaiaharigela@yahoo.com dastagiri@keimed.com
Area :	8000 Sq. Ft.
Location :	Owned
Locality :	Commercial
Branch Office 1 :	R.G.M 5/170 Jagardanga Block -A, Post-R, P-S, Airport Rajarhat, 24 PGS North Kolkata-700136, West Bengal, India
Branch Office 2:	Plot No. 211/C and 211/D1, Zone A, Sector B, Macheswar Industrial Estate, Bhubaneshwar-751010, Odisha, India
Location :	Rented
Locality :	Commercial
Other Branch Offices :	Located at: · Hyderabad · Chennai · Delhi · Madurai · Bangalore

DIRECTORS

AS ON: 31.03.2017

Name :

Mrs. Shobana Kamineni

Designation :

Director

Address :

10-3-316/A, Masab Tank, Hyderabad-500028, Telangana, India

Date of Birth/Age :

27.11.1960

Qualification :

B. A. (Economics)

Date of Appointment :

18.10.2007

Passport No.:

Z1865518

PAN No.:

AAIPK7589G

Aadhar Card No:

6225 0186 2604

DIN No.:

00003836

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L24232DL1988PLC030958	INDRAPRASTHA MEDICAL CORPORATION LIMITED	14/09/2012	-
L28920MH1949PLC006870	BLUE STAR LIMITED	28/07/2014	-
L35911DL1984PLC017354	HERO MOTOCORP LIMITED	31/08/2015	-
L85110TN1979PLC008035	APOLLO HOSPITALS ENTERPRISE LIMITED	02/07/2014	-
U01122TG2001PTC038142	MATRIX AGRO PRIVATE LIMITED	19/09/2012	-
U40102AP2014PTC095710	GAS TRANSMISSION INDIA PRIVATE LIMITED	26/11/2014	-
U40108TG2012PTC082969	LNG BHARAT PRIVATE LIMITED	07/09/2012	-
U45200TG1991PTC012560	KAMINENI BUILDERS PRIVATE LIMITED	15/04/1991	-
U52500TN2016PLC111328	APOLLO PHARMACIES LIMITED	08/07/2016	-
U63032TG2007PTC056204	KEI-RSOS SHIPPING PRIVATE LIMITED	05/11/2007	-

Name :

Mrs. Pushpa Umapathy Kamineni

Designation :

Director

Address :

10-3-316/A, Masab Tank, Hyderabad-500028, Telangana, India

Date of Birth/Age :

12.08.1936

Qualification :

Senior Cambridge

Date of Appointment :

26.04.2005

PAN No.:

ADOPK7081Q

Aadhar Card No:

7030 3372 8843

DIN No.:

00901673

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U40100AP2003PTC041637	INDIAN HOSPITEX PRIVATE LIMITED	20/12/2005	-
U45200TG1991PTC012560	KAMINENI BUILDERS PRIVATE LIMITED	15/04/1991	-
U74900TG2015PTC101507	SANJEEVANI PHARMA DISTRIBUTORS PRIVATE LIMITED	04/11/2015	-

Name :

Mrs. Sravanthi Koduru

Designation :

Additional Director

Address :

C-3, Trendset Ville, 8-2-309/1 To 13 Road No.3, Banjara Hills, Hyderabad-500034, Telangana, India

Date of Birth/Age :

04.03.1978

Qualification :

PG Diploma in Business Management – ISB

Date of Appointment :

23.10.2015

PAN No.:

AMLPK3875E

DIN No.:

01593189

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U33111TG2012PTC083659	SHUBHRA BIOTECH PRIVATE LIMITED	15/04/2015	-
U74990MH2009PTC196921	COLDSTAR LOGISTICS PRIVATE LIMITED	30/03/2014	-

Name :

Mr. Arvind Kumar Venkat

Designation :

Wholetime Director

Address :

Flat 107, Aparna, Chandradeep Apartment Road No. 7, Banjara Hills, Hyderabad-500034, Telangana, India

Date of Birth/Age :

15.10.1959

Qualification :

ACA

Date of Appointment :

31.01.2015

PAN No.:

AFSPV3248Q

DIN No.:

02304618

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24100MH2004PTC144999	PINNACLE BIOMED PRIVATE LIMITED	01/10/2014	-
U24200WB2016PTC215615	ADELINE PHARMA PRIVATE LIMITED	24/06/2016	-
U24230TN2007PTC064220	PALEPU PHARMA PRIVATE LIMITED	22/07/2009	-
U24231GJ2001PTC039783	DHRUVI PHARMA PRIVATE LIMITED	30/09/2015	-
U24231TN1995PTC033975	LPH PHARMA PRIVATE LIMITED	17/07/2017	-
U24232DL2008PTC181486	LUCKY PHARMACEUTICALS PRIVATE LIMITED	20/10/2008	-
U24233DL1999PTC099355	NEELKANTH DRUGS PRIVATE LIMITED	29/06/2011	-
U24233TG2014PTC094068	MEDIHAUXE PHARMA PRIVATE LIMITED	06/08/2015	-
U24233TN2009PTC073062	MEDIHAUXE INTERNATIONAL PRIVATE LIMITED	16/09/2010	-
U24239MH2001PTC130423	MEHER DISTRIBUTORS PRIVATE LIMITED	02/12/2009	-

Name :

Yoshiyasu Furukawa

Designation :

Nominee Director

Address :

#05-10 1, Anderson Road, The Shangri La Apartments, Singapore-259983

Date of Birth/Age :

26.07.1961

Qualification :

Graduate

Date of Appointment :

13.08.2015

Passport No.:

TK8869845

DIN No.:

07259981

KEY EXECUTIVES

Name :	Mr. Arigela Narasaiah
Designation :	Chief Financial Officer (KMP)
Address :	J.2002, Apaarna Sarovar, Nallagandla Kancha, Gachibowli, Hyderabad-500046, Telangana, India
Date of Appointment :	31.03.2016
PAN No:	AEAPA8661D
Name :	Mr. Balla Madhu
Designation :	Company Secretary
Address :	Plot No.25, Flat No.304, Kingston B-Wing, Pragathi Nagar, Hyderabad-500090, Telangana, India
Date of Appointment :	02.02.2015
PAN No:	AEYPB5008D
Name :	Mr. Gajadi Pradeep Kumar
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders [Equity Shares]	No. of Shares
Shobana Kamineni	1537857
Taruna C Joshi	3850
Family Health Plan Insurance TPA Limited	1107710
Pushpa Umapathy Kamineni	1469550
Umapathy Kamineni	330550
Puansh Kamineni	309650
Mitsui and Co (Asia Pacific) Pte Limited	1189792
Total	5948959

Names of Shareholder [Preference Share]	No. of Shares
Shobana Kamineni	3499987
Total	3499987

AS ON: 21.08.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters – Individual/ Hindu Undivided Family – Indian	61.38
Promoters – Body Corporate	18.62
Public/Other than promoters - Body Corporate	20.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Pharmaceuticals and Medical Goods. [Registered Activity and also Confirmed by Management]

Products/ Services :

ITC Code No.	Product Descriptions
98041000	Drugs and Medicines

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Not Available

Countries :

Not Available

Imports :

Products :

Not Available

Countries :

Not Available

Terms :

Selling :

Cheque and Others [RTGS]

Purchasing :

Cheque and Others [RTGS]

PRODUCTION STATUS: (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference:

Pfizer Limited

Name of the Person (Designation):

Mr. Ashok Suyam Dukasam [Accounts Manager]

Contact Number:

91-9941034386

Since how long known:

10 Years

Maximum limit dealt:

INR 7.000 Million (Monthly) [Approx.]

Experience:

Payment Behavior	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark

Mr. Ashok Suyam Dukasam [Accounts Manager] claimed that the payment behaviour and market goodwill is excellent and overall performance is excellent.

Reference:

GlaxoSmithKline Pharmaceutical Limited

Name of the Person (Designation):

Mr. Murthy [Area Business Manager]

Contact Number:

91-9866078320

Since how long known:

10 Years

Maximum limit dealt:

INR 7.000 Million (Monthly) [Approx.]

Experience:

Payment Behavior	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark

Mr. Murthy [Area Business Manager] claimed that the payment behaviour and market goodwill is excellent and overall performance is excellent.

Customers :

Others [Hospitals]

Reference:

Apollo Hospitals Enterprise Limited

Name of the Person (Designation):

Mr. Thaya Paran [General Manager (Pharmacy)]

Contact Number:

91-9849797925

Since how long known:

17 Years

Maximum limit dealt:

INR 40.000 Million (Monthly) [Approx.]

Experience:

Product Quality	Delivery Behavior	Overall
Excellent	Excellent	Excellent

Remark

Mr. Thaya Paran [General Manager (Pharmacy)] claimed that the product quality and delivery behaviour is excellent and overall performance is excellent.

No. of Employees :

60 (Approximately)

Bankers :

Bank Name:	HDFC Bank limited
Branch:	Lakdikapul, Hyderabad-500004, Andhra Pradesh, India
Person Name (with Designation):	Mr. Balaji Mohan [Relationship Manager]
Contact Number:	91-9840287840
Name of Account Holder:	--
Account Number:	A/c No: 00210330001060 IFSC Code: HDFC0000021
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	Continuously ringing

Bank Name:	Canara Bank
Branch:	Thousand Lights Branch, No.5, Greams Road, Tousand Lights, Chennai - 600006, Tamilnadu, India
Person Name (with Designation):	--
Contact Number:	91-44-28241311
Name of Account Holder:	--
Account Number:	--
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	Continuously ringing

Facilities :

SECURED LOANS	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	0.000	70.000
Term loans from others	0.000	10.122
SHORT TERM BORROWINGS
Loans repayable on demand	181.934	401.343
Total	181.934	481.465

Auditors :
Name :	M. Sreenivasulu Reddy and Associates Chartered Accountants
Address :	Flat No.404, Sandhya Enclave, Dwarakapuri Colony, Sai Baba Temple Lane, Panjagutta, Hyderabad-500082, Telangana, India
PAN No.:	ACAPM9624J
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary Company :	· Vardhman Pharma Distributors Private Limited, India [U85110KA1992PTC013757] · Sanjeevani Pharma Distributors Private Limited, India [U74900TG2015PTC101507] · Palepu Pharma Private Limited, India [U24230TN2007PTC064220] · Neelkanth Drugs Private Limited, India [U24233DL1999PTC099355] · Meher Distributors Private Limited, India [U24239MH2001PTC130423] · Medihauxe Pharma Private Limited, India [U24233TG2014PTC094068] · Lucky Pharmaceuticals Private Limited, India [U24232DL2008PTC181486] · Dhruvi Pharma Private Limited, India [U24231GJ2001PTC039783] · Adeline Pharma Private Limited, India [U24200WB2016PTC215615]
Fellow Subsidiary Company :	· Medihauxe International Private Limited, India [U24233TN2009PTC073062] · Medihauxe Healthcare Private Limited, India [U52311KA2016PTC095908]
Others Related Parties :	· Srinivasa Medisales Private Limited, India [U33111KA2008PTC045022] · Mitsui & Co (Asia Pacific) Pte Limited · Indian Hospitex Private Limited, India [U40100AP2003PTC041637] · Family Health Plan Insurance TPA Limited, India [U85110TN1995PLC031121] · Apollo Hospitals Enterprise Limited, India [L85110TN1979PLC008035] · Kamal Distributors Private Limited, India [U99999MH1988PTC049727] · Focus Medisales Private Limited, India [U04231KA1999PTC025000] · Apollo Home Healthcare Limited, India [U85100TN2014PLC095340]

CAPITAL STRUCTURE

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
6500000	Equity Shares	INR 10/- each	INR 65.000 Million
3500000	Preference Shares	INR 10/- each	INR 35.000 Million
	Total		INR 100.000 Million

Issued Capital :

No. of Shares	Type	Value	Amount
5948959	Equity Shares	INR 10/- each	INR 59.490 Million
3499987	Preference Shares	INR 10/- each	INR 35.000 Million
	Total		INR 94.490 Million

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5948959	Equity Shares	INR 10/- each	INR 59.490 Million
3499987	Preference Shares (Not fully Paid up)	INR 0.10/- each	INR 0.350 Million
	Total		INR 59.840 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET [STANDALONE]

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	59.840	59.840	57.110
(b) Reserves & Surplus	979.238	938.830	474.941
(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)	1039.078	998.670	532.051
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	80.122	168.390
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	5.983	4.826	0.000
Total Non-current Liabilities (3)	5.983	84.948	168.390
(4) Current Liabilities
(a) Short term borrowings	181.934	441.857	341.237
(b) Trade payables	197.959	217.209	280.849
(c) Other current liabilities	41.009	91.851	94.960
(d) Short-term provisions	132.531	73.902	58.471
Total Current Liabilities (4)	553.433	824.819	775.517
TOTAL	1598.494	1908.437	1475.958
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	20.415	38.144	45.236
(ii) Intangible Assets	0.061	0.158	0.255
(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	1022.113	878.178	902.156
(c) Deferred tax assets (net)	8.154	7.211	4.289
(d) Long-term Loan and Advances	12.818	34.716	42.289
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1063.561	958.407	994.225
(2) Current assets
(a) Current investments	162.547	329.783	0.000
(b) Inventories	178.545	274.394	303.749
(c) Trade receivables	116.676	264.509	104.139
(d) Cash and cash equivalents	5.207	4.459	6.000
(e) Short-term loans and advances	71.742	76.597	67.845
(f) Other current assets	0.216	0.288	0.000
Total Current Assets	534.933	950.030	481.733
TOTAL	1598.494	1908.437	1475.958

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Revenue from Operations	3918.850	6552.276	5127.456
		Other Income	158.844	227.861	154.232
		TOTAL	4077.694	6780.137	5281.688
Less	EXPENSES
		Purchases of Stock-in-Trade	3599.555	6230.967	5008.386
		Changes in inventories	95.849	29.355	(130.162)
		Employees benefits expense	82.662	74.063	68.322
		Other expenses	45.500	76.580	73.466
		CSR Expenditure	2.746	1.614	1.161
		TOTAL	3826.312	6412.579	5021.173
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		251.382	367.558	260.515
Less	FINANCIAL EXPENSES		44.609	65.254	78.309
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		206.773	302.304	182.206
Less/ Add	DEPRECIATION/ AMORTISATION		10.148	18.797	29.750
	PROFIT/ (LOSS) BEFORE TAX		196.625	283.507	152.456
Less	TAX		54.606	72.823	38.054
	PROFIT/ (LOSS) AFTER TAX		142.019	210.684	114.402
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings [FOB basis]	0.000	1.617	0.000
	TOTAL EARNINGS		0.000	1.617	0.000
	Earnings/ (Loss) Per Share (INR)		23.87	35.42	20.03

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	38.268	88.268	89.180
Net cash flows from (used in) operations	328.540	120.829	198.879
Net cash flows from (used in) operating activities	271.666	58.436	157.079

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	10.87	14.73	7.41
Account Receivables Turnover (Income / Sundry Debtors)	33.59	24.77	49.24
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	20.07	12.72	20.47
Inventory Turnover (Operating Income / Inventories)	1.41	1.34	0.86
Asset Turnover (Operating Income / Net Fixed Assets)	12.28	9.60	5.73

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.37	0.52	0.70
Debt Equity Ratio (Total Liability / Networth)	0.21	0.61	1.13
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.53	0.83	1.46
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.02	0.04	0.09
Interest Coverage Ratio (PBIT / Financial Charges)	5.64	5.63	3.33

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	3.62	3.22	2.23
Return on Total Assets ((PAT / Total Assets) * 100)	%	8.88	11.04	7.75
Return on Investment (ROI) ((PAT / Networth) * 100)	%	13.67	21.10	21.50

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.97	1.15	0.62
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.64	0.82	0.23
G-Score Ratio Financial (Networth / Total Assets)	0.65	0.52	0.36
G-Score Ratio Debt (Debts / Equity Capital)	3.68	10.20	10.49
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.97	1.15	0.62

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particulars	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	57.110	59.840	59.840
Reserves & Surplus	474.941	938.830	979.238
Share Application money pending allotment	0.000	0.000	0.000
Net worth	532.051	998.670	1039.078
long-term borrowings	168.390	80.122	0.000
Short term borrowings	341.237	441.857	181.934
Current Maturities of Long term debt	89.180	88.268	38.268
Total borrowings	598.807	610.247	220.202
Debt/Equity ratio	1.125	0.611	0.212

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	5127.456	6552.276	3918.850
		27.788	-40.191

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	5127.456	6552.276	3918.850
Profit/ (Loss)	114.402	210.684	142.019
	2.23%	3.22%	3.62%

ABRIDGED BALANCE SHEET [CONSOLIDATED]

SOURCES OF FUNDS	31.03.2017	31.03.2016
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	59.840	59.840
(b) Reserves & Surplus	1486.403	1161.353
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
(3) Minority Interest	579.031	526.190
Total Shareholders’ Funds (1) + (2)	2125.274	1747.383
(3) Non-Current Liabilities
(a) Long-term borrowings	387.119	327.204
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	23.744	15.282
Total Non-current Liabilities (3)	410.863	342.486
(4) Current Liabilities
(a) Short term borrowings	2747.683	2522.724
(b) Trade payables	1249.365	895.891
(c) Other current liabilities	186.886	164.973
(d) Short-term provisions	469.372	196.034
Total Current Liabilities (4)	4653.306	3779.622
TOTAL	7189.443	5869.491
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	274.508	209.995
(ii) Intangible Assets	795.329	514.798
(iii) Capital work-in-progress	0.000	3.829
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.550	0.115
(c) Deferred tax assets (net)	28.878	23.426
(d) Long-term Loan and Advances	107.992	113.202
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1207.257	865.365
(2) Current assets
(a) Current investments	162.547	329.783
(b) Inventories	2721.062	2197.246
(c) Trade receivables	2686.668	2176.323
(d) Cash and cash equivalents	69.000	42.396
(e) Short-term loans and advances	341.820	253.395
(f) Other current assets	1.089	4.983
Total Current Assets	5982.186	5004.126
TOTAL	7189.443	5869.491

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Revenue from Operations	34517.341	28528.560
		Other Income	29.233	82.434
		TOTAL	34546.574	28610.994
Less	EXPENSES
		Purchases of Stock-in-Trade	32565.184	27081.874
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(498.342)	(500.963)
		Employees benefits expense	646.151	528.033
		Other expenses	502.570	428.462
		CSR Expenditure	6.341	2.734
		TOTAL	33221.904	27540.140
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1324.670	1070.854
Less	FINANCIAL EXPENSES		325.163	270.643
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		999.507	800.211
Less/ Add	DEPRECIATION/ AMORTISATION		117.350	66.903
	PROFIT/ (LOSS) BEFORE TAX		882.157	733.308
Less	TAX		302.894	249.992
	PROFIT/ (LOSS) FOR PERIOD BEFORE MINORITY INTEREST		579.263	483.316
Less	MINORITY INTEREST		173.609	141.335
	PROFIT/ (LOSS) FOR PERIOD		405.654	341.981
	Earnings/ (Loss) Per Share (INR)		68.19	58.36

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	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	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	Yes
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	Yes
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

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	C56876675	10233583	HDFC BANK LIMITED	10/06/2010	20/02/2015	-	300000000.0	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN
2	A85976645	10219352	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	28/03/2010	-	-	400000000.0	RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMH400020IN
3	Y10221333	90128528	HOUSING DEVELOPMENT FINANCE CORPORATION LTD	04/03/2004	-	-	100000000.0	BASHEERBAGHYDERABADAP500029IN
4	B71462857	10122694	CANRA BANK	05/08/2008	-	02/03/2013	150000000.0	THOUSAND LIGHTS BRANCHNO.5, GREAMS ROAD, TOUSAND LIGHTSCHENNAITN600006IN
5	A90352691	90259224	KOTAK MAHINDRA BANK LIMITED	21/11/2005	20/07/2009	03/07/2010	150000000.0	36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN
6	A30865356	90128227	ANDHRA BANK	05/07/2002	23/09/2002	02/01/2008	5000000.0	APOLLO HOSPITAL BRANCHHYDERABADAPIN

UNSECURED LOANS

PARTICULARS	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
SHORT TERM BORROWINGS
Loans repayable on demand from others	0.000	40.514
Total	0.000	40.514

CHANGE OF ADDRESS:

The Registered address of the company has been shifted from OB Lacasa K Apartments, Road No. 11, Banjarahills, Hyderabad-500034, Andhra Pradesh, India to the present address w.e.f.12.12.2008

CONTINGENT LIABILITIES:

Particulars	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
Claims against company not acknowledged as debt
Guarantees	2961.000	2021.000

FIXED ASSETS:

Tangible Assets

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Leasehold Improvements

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	INR
US Dollar	1	INR 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	DIV
Report Prepared by :	IND

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.