MIRA INFORM REPORT

Report No. :	485163.2
Report Date :	17.01.2018

IDENTIFICATION DETAILS

Name :	PROTAQ BIOMEDICAL PRIVATE LIMITED
Registered Office :	House No. 98 Sector-5, Part-3, Gurugram – 122001, Haryana
Tel. No.:	91-11-46025422
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	14.08.2007
Com. Reg. No.:	05-037110
Capital Investment / Paid-up Capital :	INR 0.100 Million
CIN No.: [Company Identification No.]	U24233HR2007PTC037110
IEC No.:	0507090667
GSTIN/UIN:	07AAECP3514H1ZM
TIN No:	07900340350
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECP3514H
Legal Form :	Private Limited Liability Company
Line of Business :	· Trader, dealer and research development of chemical, resin and laboratory test equipment. (Confirmed by management) · The company is the business of supply of medical and biomedical instruments. (Registered Activity)
No. of Employees :	12 (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 4000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2007. It is a trader, dealer and research development of chemical, resin and laboratory test equipment. As per the financial of 2017, the company has reported a decline of 6.97% in its revenue as compared to the precious year but has managed to maintain a low profitability margin of 0.97%. The fair financial position of the company is reflected by average net worth base along with acceptable debt balance sheet profile and comfortable liquidity parameters. Business is active. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

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	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 31-03-2016.

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 12.01.2018.

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 :	Ms. Meenakshi Bhatiya
Designation :	Accountant
Contact No.:	91-11-46025422
Date :	11.01.2018
Name :	Mr. Ashok Kumar
Designation :	Director
Contact No.:	91-9811421731

LOCATIONS

Registered Office :	House No. 98 Sector-5, Part-3, Gurugram – 122001, Haryana, India
Tel. No.:	91-11-46025422
Mobile No:	91-9811421731 (Mr. Ashok Kumar)
Fax No.:	Not Available
E-Mail :	protaq.biomed@gmail.com customercare@protaqbiomedical.in
Website :	http://www.protaqbiomedical.in
Location:	Rented
Corporate Office:	KH378, GF, Raj Singh Complex, Kapashera, New Delhi – 110037, India
Tel. No.:	91-11-46025422/433
Fax No.:	91-11-46025433

DIRECTORS

AS ON 31.03.2017

Name :	Mr. Mahabir Singh
Designation :	Director
Address :	House No 98, Sector 5 Part 3, Gurugram – 122001, Haryana, India
Date of Birth/Age :	08.09.1947
Qualification:	Matriculation
Experience:	40 Years
Date of Appointment :	14.08.2007
DIN No.:	01518975
Name :	Mr. Ashok Kumar
Designation :	Director
Address :	House No- 30, Sector - 5 Gurugram – 122001, Haryana, India
Date of Birth/Age :	15.10.1973
Qualification:	M. Tech Biotechnology
Experience:	17 Years
Date of Appointment :	14.08.2007
DIN No.:	01519054

KEY EXECUTIVES

Name :	Ms. Meenakshi Bhatiya
Designation :	Accountant

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares	% of Holding
Ashok Kumar	9000	90.00
Mahabir Singh	1000	10.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2016

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

· Trader, dealer and research development of chemical, resin and laboratory test equipment. (Confirmed by management)

· The company is the business of supply of medical and biomedical instruments. (Registered Activity)

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Supply of medical and biomedical instruments	4770

Brand Names :

· NUNC

· Nalgene

· Pierce

· Fisher

· Abnova

· LabServe

· Abgene

· Finnpipette

· Genaxy

· Serva

Agencies Held :

· Thermofisher Scientific India Private Limited

· Genaxy Scientific Private Limited

· Authorized other companies for Delhi and Uttarkhand

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Advance Payments, Cheque, Credit (60 Days) and RTGS

Purchasing :

Advance Payments, Cheque, Credit (60 Days) and RTGS

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

End Users, OEM’s

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

No. of Employees :

12 (Approximately)

Bankers :

Banker Name :	ICICI Bank
Branch :	Huda Market, Sector – 23 and 23 A, Society 37 and 38, Gurugram – 122017, Haryana, India
Person Name (With Designation) :	--
Contact Number :	91-124-3366777/4445500
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	Number are continuously ringing

Banker Name :	State Bank of India
Branch :	A-264 Opposite M.K.R Hospital, Defence Colony, New Delhi, Inda
Person Name (With Designation) :	--
Contact Number :	91-11-24624764
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	INR 1.000 Million
Account Operation :	--
Remark :	Number are continuously ringing

Auditors :
Name :	Krishan Mittal and Company Chartered Accountants
Address :	2481/9, Gurudwara Road, Karol Bagh, New Delhi - 110005, India
PAN N Income-tax PAN of auditor or auditor's firm :	AFQOM9919K
Email:	kkmittalca@gmail.com
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	INR 10/- each	INR 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	INR 10/- each	INR 0.100 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
EQUITY AND LIABILITIES		0.100
1] Share Capital		0.000
2] Share Application Money		1.443
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		1.543
NETWORTH
LOAN FUNDS
1] Secured Loans		1.751
2] Unsecured Loans		6.964
TOTAL BORROWING		8.715
DEFERRED TAX LIABILITIES		0.000
TOTAL		10.258
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.538
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	9.168
	Sundry Debtors	5.070
	Cash & Bank Balances	0.690
	Other Current Assets	0.320
	Loans & Advances	0.156
Total Current Assets		15.404
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.084
	Other Current Liabilities	0.500
	Provisions	0.100
Total Current Liabilities		5.684
Net Current Assets		9.720
MISCELLANEOUS EXPENSES		0.000
TOTAL		10.258

SOURCES OF FUNDS	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	1.265	1.085
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1.365	1.185
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	7.218	10.943
(b) Trade payables	4.030	5.353
(c) Other current liabilities	0.535	0.174
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	11.783	16.470
TOTAL	13.148	17.655
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.711	0.863
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.063	0.055
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.008	0.009
Total Non-Current Assets	0.782	0.927
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	7.660	6.166
(c) Trade receivables	3.558	7.822
(d) Cash and cash equivalents	0.571	2.587
(e) Short-term loans and advances	0.156	0.000
(f) Other current assets	0.421	0.153
Total Current Assets	12.366	16.728
TOTAL	13.148	17.655

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	17.042
	Other Income	0.079
	TOTAL (A)	17.121
Less	EXPENSES
	Cost Of Good Sold	13.508
	Advertisement Expenses	0.000
	Postage And Telegram	0.045
	Conveyance Charges	0.050
	Computer Expenses	0.020
	Diwali Expenses	0.016
	Discount And Rebate	0.000
	Electricity Expenses	0.050
	Entertainment Expenses	0.035
	Freight	0.110
	Interest	0.162
	Rent	0.456
	Travelling Expenses	0.079
	Salary Expenses	1.610
	Petrol	0.053
	Printing And Stationery	0.025
	Repair And Maintains	0.013
	Audit Fess	0.150
	Insurance	0.050
	Miscellanea	0.022
	Staff Welfare	0.022
	Sales Promotion	0.002
	Sweeper Expenses	0.001
	Water Expenses	0.006
	Preliminary Expenses	0.000
	Provisional tax	0.100
	TOTAL (B)	16.585
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.536
Less	FINANCIAL EXPENSES	0.198
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.338
Less/ Add	DEPRECIATION/ AMORTISATION	0.172
	NET PROFIT	0.166

	PARTICULARS	31.03.2016	31.03.2015
	SALES
	Income	18.319	22.178
	Other Income	0.056	0.060
	TOTAL	18.375	22.238
Less	EXPENSES
	Cost of Materials Consumed	0.000	0.000
	Purchases of Stock-in-Trade	16.050	16.395
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1.473)	1.771
	Employees benefits expense	1.355	1.601
	Other expenses	1.945	2.014
	TOTAL	17.877	21.781
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.498	0.457
Less	FINANCIAL EXPENSES	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.498	0.457
Less/ Add	DEPRECIATION/ AMORTISATION	0.216	0.268
	PROFIT/ (LOSS) BEFORE TAX	0.282	0.189
Less	TAX	0.099	0.082
	PROFIT/ (LOSS) AFTER TAX	0.183	0.107
	Earnings / (Loss) Per Share (INR)	18.33	10.73

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	NA	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	108.59	70.89	128.73
Account Receivables Turnover (Income / Sundry Debtors)	3.36	5.15	2.84
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	137.37	91.65	119.17
Inventory Turnover (Operating Income / Inventories)	0.06	0.07	0.07
Asset Turnover (Operating Income / Net Fixed Assets)	1.00	0.70	0.53

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.90	0.90	0.93
Debt Equity Ratio (Total Liability / Networth)	4.84	5.29	9.23
Current Liabilities to Networth (Current Liabilities / Net Worth)	9.01	8.63	13.90
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.35	0.52	0.73

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.97	1.00	0.48
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.04	1.39	0.61
Return on Investment (ROI) ((PAT / Networth) * 100)	%	10.76	13.41	9.03

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.22	1.05	1.02
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.49	0.40	0.64
G-Score Ratio Financial (Networth / Total Assets)	0.10	0.10	0.07
G-Score Ratio Debt (Debts / Equity Capital)	87.15	72.18	109.43
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.22	1.05	1.02

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

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	0.100	0.100	0.100
Reserves & Surplus	1.085	1.265	1.443
Net worth	1.185	1.365	1.543
long-term borrowings	0.000	0.000	1.751
Short term borrowings	10.943	7.218	6.964
Total borrowings	10.943	7.218	7.464
Debt/Equity ratio	9.235	5.288	4.837

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	22.178	18.319	17.042
		(17.400)	(6.971)

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	22.178	18.319	17.042
Profit/(Loss)	0.107	0.183	0.166
	0.48%	1.00%	0.97%

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	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)	Yes
16	No. of employees	Yes
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	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 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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

COMPANY OVERVIEW:

The company was incorporated on 14^th August 2007 under the provisions of the companies Act, 1956. The company is the business of supply of medical and biomedical instruments.

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	B97101208	10479338	STATE BANK OF PATIALA	10/01/2014	-	-	1000000.0	23-24, DEFENCE COLONY MARKET BRANCHNEW DELHIDL110024IN

FIXED ASSETS:

• Land and Building
• Plant and machinery
• Furniture and fixture
• Vehicles
• Office equipments
• Leasehold improvement

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	INR
US Dollar	1	INR 63.41
UK Pound	1	INR 87.17
Euro	1	INR 77.44

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	NIY
Report Prepared by :	NKTS

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	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.