MIRA INFORM REPORT

Report No. :	505906
Report Date :	27.04.2018

IDENTIFICATION DETAILS

Name :	ATUL MEDICALS
Registered Office :	2/220 Swadeshi Beema Nagar, Soorsadan Crossing Marg Road, Agra-282002, Uttar Pradesh
Mobile No.:	91-9837231020/ 8755009091 [Mr. Atul Goyal]
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	1966
Capital Investment :	INR 5.390 Million
IEC No.: [Import-Export Code No.]	Not Applicable [As informed by the management that firm does not have export and import]
TIN No.:	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	09ABKFA5253C1ZL
PAN No.: [Permanent Account No.]	ABKFA5253C
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Dealer of Super Speciality Drug. [Confirmed by Management]
No. of Employees :	08 [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	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 15400
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Atul Medicals is a dealer of super speciality drug. The concern was started in the year 1966 and is based in Uttar Pradesh, India. It is an established partnership concern having satisfactory track record. For the financial year ended 2017, the concern has achieved healthy operational revenue and has reported fair profit margin at 2.82% (approximately). The concern possesses an acceptable financial profile marked by satisfactory capital base along with low debt level of the concern. The concern also derives strength from its long standing track record of business operation. Further, rating considers positive feedback received from its customer (Maharaja Agrasen Medical Centre) for good product quality and supplier (Panacea Medicals), (Naval Medicals) for good payment behaviour and market goodwill. Trade relations are reported as fair. Business is active. Payments are seems to be usually correct and as per commitments. The concern 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 (30.09.2017)	Current Rating (31.12.2017)
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

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 31-03-2016.

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 27.04.2018

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. Atul Goyal
Designation :	Partner
Contact No.:	91-9837231020
Date :	27.04.2018

LOCATIONS

Registered Office :	2/220 Swadeshi Beema Nagar, Soorsadan Crossing Marg Road, Agra-282002, Uttar Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9837231020/ 8755009091 [Mr. Atul Goyal]
Fax No.:	Not Available
E-Mail :	atulmedicals786@gmail.com
Area :	300 Sq. Ft.
Location :	Owned
Locality :	Commercial

PARTNERS

Name :	Mr. Atul Goyal
Designation :	Partner
Date of Birth/Age :	53 Years
Qualification :	B Com, LLB
Name :	Mr. Neelam Goyal
Designation :	Partner
Date of Birth/Age :	51 Years
Qualification :	M A

BUSINESS DETAILS

Line of Business :	Dealer of Super Speciality Drug. [Confirmed by Management]
Products/ Services :	Super Speciality Drug
Brand Names :	Not Available
Agencies Held :	· Boehringer Ingelheim India Private Limited Intas Pharmaceuticals Limited
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cheque, Credit [30 Days] and Others [Bank Transfer]
Purchasing :	Cheque, Credit [30 Days] and Others [Bank Transfer]

GENERAL INFORMATION

Suppliers :

Reference:

Panacea Medicals

Name of the Person (Designation):

Mr. Anand Dubey

Contact Number:

91-9415016570

Since how long known:

04 Years

Maximum limit dealt:

--

Experience:

Payment Behavior	Market Goodwill	Overall
Good	Good	Good

Remark

They gave us positive response about the subject company. They are satisfied with their payment behaviour and Market Goodwill.

Reference:

Naval Medicals

Name of the Person (Designation):

Mr. Sharad [Manager]

Contact Number:

91-522-2668555

Since how long known:

05 Years

Maximum limit dealt:

--

Experience:

Payment Behavior	Market Goodwill	Overall
Good	Good	Good

Remark

They gave us positive response about the subject company. They are satisfied with their payment behaviour and Market Goodwill.

Customers :

End Users

Reference:

Maharaja Agrasen Medical Center

Name of the Person (Designation):

Mr. Navneet Singhal [Chairman]

Contact Number:

91-9837038595

Since how long known:

03 Years

Maximum limit dealt:

--

Experience:

Product Quality	Delivery Behavior	Overall
Good	Good	Good

Remark

They gave us positive response about the subject company. They are satisfied with their product quality and delivery behaviour.

· A N Medico and Surgico, Agra

Lotus Pharmacy, Agra

No. of Employees :

08 [Approximately]

Bankers :

Bank Name:	Central Bank of India
Branch:	B-1, Kamala Nagar, Agra, Uttar Pradesh, India
Person Name (with Designation):	--
Contact Number:	91-562-2880456 [Number is ringing]
Name of Account Holder:	ATUL MEDICALS
Account Number:	3654022940
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	--

Auditors :
Name :	Agrawal Raj Kumar and Company Chartered Accountants
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON: 31.03.2017

Capital Investment :
Owned :	INR 5.390 Million
Borrowed :	--
Total :	INR 5.390 Million

FINANCIAL ANALYSIS

[all figures are in INR Million]

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016
SHAREHOLDERS FUNDS
1] Capital Account		5.390	4.984
2] Reserves & Surplus		0.000	0.000
NETWORTH		5.390	4.984
LOAN FUNDS
1] Secured Loans		1.647	0.712
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		1.647	0.712
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		7.037	5.696
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.493	0.580
Capital work-in-progress		0.000	0.000
INVESTMENT		0.130	0.119
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.339	3.189
	Sundry Debtors	3.698	3.666
	Cash & Bank Balances	0.578	0.280
	Other Current Assets	0.147	0.043
	Loans & Advances	0.000	0.000
Total Current Assets		8.762	7.178
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.326	2.181
	Other Current Liabilities	0.000	0.000
	Provisions	0.022	0.000
Total Current Liabilities		2.348	2.181
Net Current Assets		6.414	4.997
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		7.037	5.696

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Sales	50.165	52.064
		Other Income	0.046	0.102
		TOTAL	50.211	52.166
Less	EXPENSES
		Cost of Goods Sold	47.084	49.402
		Direct Expenses	0.000	0.029
		Freight and Cartage	0.034	0.000
		Audit Fees	0.008	0.008
		Bonus to Staff	0.063	0.000
		Books and Periodicals	0.007	0.000
		Car Repairs and Maintenance	0.069	0.073
		Computer Repairs and Maintenance	0.008	0.003
		Electricity Expenses	0.070	0.082
		Insurance	0.018	0.021
		Legal Fees	0.014	0.014
		News Paper Expense	0.000	0.002
		Postage	0.011	0.014
		Rent	0.132	0.135
		Repair and Maintance	0.019	0.012
		Salaries to Staff	0.810	0.671
		Sales Promotion	0.046	0.033
		Scooter Expenses	0.036	0.043
		Shop Expenses	0.007	0.008
		Staff Welfare	0.024	0.016
		Telephone Expenses	0.012	0.011
		Travelling Expenses	0.047	0.030
		Wages Loading and Unloading	0.022	0.019
		Interest to Partners	0.557	0.456
		Remuneration to Partners	0.605	0.624
		TOTAL	49.703	51.706
	PROFIT/ (LOSS) BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		0.508	0.460
Less	FINANCIAL EXPENSES		0.168	0.089
	PROFIT / (LOSS) BEFORE, DEPRECIATION AND AMORTISATION		0.340	0.371
Less/ Add	DEPRECIATION/ AMORTISATION		0.087	0.105
	NET PROFIT/ (LOSS)		0.253	0.266

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Average Collection Days (Sundry Debtors / Income * 365 Days)	26.91	25.70
Account Receivables Turnover (Income / Sundry Debtors)	13.57	14.20
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	18.03	16.11
Inventory Turnover (Operating Income / Inventories)	0.12	0.14
Asset Turnover (Operating Income / Net Fixed Assets)	1.03	0.79

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.43	0.37
Debt Equity Ratio (Total Liability / Networth)	0.31	0.14
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.44	0.44
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.09	0.12
Interest Coverage Ratio (PBIT / Financial Charges)	3.02	5.17

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016
Net Profit Margin ((PAT / Sales) * 100)	%	0.50	0.51
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.70	3.38
Return on Investment (ROI) ((PAT / Networth) * 100)	%	4.69	5.34

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Current Ratio (Current Assets / Current Liabilities)	3.79	3.35
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.94	1.88
G-Score Ratio Financial (Networth / Total Assets)	0.57	0.63
G-Score Ratio Debt (Debts / Equity Capital)	0.31	0.14
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	3.79	3.35

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

Particular	31.03.2016	31.03.2017
	INR In Million	INR In Million
Capital Account	4.984	5.390
Reserves & Surplus	0.000	0.000
Net worth	4.984	5.390
Secured Loan	0.712	1.647
Unsecured Loan	0.000	0.000
Total borrowings	0.712	1.647
Debt/Equity ratio	0.143	0.306

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	52.064	50.165
		(3.647)

NET PROFIT MARGIN

Net Profit Margin	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	52.064	50.165
Profit/ (Loss)	0.266	0.253
	0.51%	0.50%

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	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 two 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 records 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	INR 66.83
UK Pound	1	INR 93.17
Euro	1	INR 81.38

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	DIV
Report Prepared by :	RUP

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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

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.

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