MIRA INFORM REPORT

Report No. :	497216
Report Date :	15.03.2018

IDENTIFICATION DETAILS

Name :	SUPER SPECIALITIES PHARMA WAREHOUSING AND LOGISTICS PRIVATE LIMITED
Registered Office :	201, Floor 2, Civic Centre, MMGS Margin Road, Dadar East, Mumbai – 400014, Maharashtra
Tel. No.:	91-22-43476091
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	17.07.2012
Com. Reg. No.:	11-233473
Capital Investment / Paid-up Capital :	INR 1.000 Million
CIN No.: [Company Identification No.]	U74900MH2012PTC233473
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
GSTN : [Goods & Service Tax Registration No.]	27AARCS8150R1Z9
PAN No.: [Permanent Account No.]	AARCS8150R
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Distributor of Pharmaceuticals Products. (Registered activity and also Confirmed by management) Providing Scientific and Technical Consulting Services. (Registered activity)
No. of Employees :	19 (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 210000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2012. The company is a trader and distributor of pharmaceutical products. As per the financial records of 2017, the company has achieved a massive growth of 70.92% in its revenue as compared to the previous year’s revenue and has gained a fair net profit margin of 6.41%. The company possesses satisfactory financial profile marked by adequate net worth base along with favourable liquidity position. Rating takes into consideration the company’s favourable Earnings Per Share (EPS) of INR 351.42 as against its Face Value (FV) of INR 10. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. NOTE: Site visit was conducted at the address which you have provided and our executive has successfully traced the subject on the given address. At the premises our executive met Mr. Mahesh (Admin Department) and he provided the contact details. As per our executive’s observation, it is a 6 storey building and subject is situated on the 2nd floor of the building. Location was easy to find. Locality appears to be commercial. Area seems to be upmarket. Approx. 7 employees were sighted in the premises. Name board of the subject was sighted at the given address.

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

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 15.03.2018

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. Pratik
Designation :	Chief Operating Office
Contact No.:	91-9987116884
Date :	14.03.2018

LOCATIONS

Registered Office :	201, Floor 2, Civic Centre, MMGS Margin Road, Dadar East, Mumbai – 400014, Maharashtra, India
Tel. No.:	91-22-43476091
Mobile No.:	91-9987116884 (Mr. Pratik)
Fax No.:	91-22-43476098
E-Mail :	ravjiani1@gmail.com info@specialitiespharma.com
Website :	http://www.specialtiespharma.com
Area :	2822 sq. ft.
Location :	Owned
Locality :	Commercial

DIRECTORS

As on 31.03.2017

Name :

Ms. Geeta Suresh Advani

Designation :

Director

Address :

86, Sindhuwadi M.G. Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

01.12.1951

Date of Appointment :

17.07.2012

DIN No.:

00611311

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U15311DL2001PTC112009	MAGIC HOSIERY PVT LTD	21/08/2003	-
U93090MH2010PTC199529	ADVANI OLICKAL HEALTHCARE SERVICES PRIVATE LIMITED	16/09/2011	-

Name :

Mr. Mohit Suresh Advani

Designation :

Director

Address :

86 Sindhwadi M.G. Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India

Date of Appointment :

30.09.2015

DIN No.:

02786665

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U18101DL2004PTC123834	NIKUNJ GAMENTS PRIVATE LIMITED	25/08/2005	-
U93090MH2010PTC199529	ADVANI OLICKAL HEALTHCARE SERVICES PRIVATE LIMITED	01/02/2010	-

KEY EXECUTIVES

Name :	Mr. Pratik
Designation :	Chief Operating Office

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares	%age
Geeta Suresh Advani	50000	50.00
Mohit Suresh Advani	50000	50.00
Total	100000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoter – (Individual/ Hindu Undivided Family – Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

• Trader and Distributor of Pharmaceuticals Products. (Registered activity and also Confirmed by management)

• Providing Scientific and Technical Consulting Services. (Registered activity)

Products :

Item Code No.	Product Description
99839390	Scientific and Technical Consulting Services

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Cash

Purchasing :

Credit (30 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Novartis
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Retailers and Patient

Reference :	Jaslok Research Centre
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

19 (Approximately)

Bankers :

Bank Name	Kotak Mahindra Bank Limited
Branch	14, Dharamputra, Dr. Banasaheb, Ambedkar Road, Dadar (East), Mumbai, Maharashtra, India
Person Name (With Designation)	Mr. Amit Agarwal (Branch Manager)
Contact Number	91-9920204974
Name of Account Holder	SUPER SPECIALITIES PHARMA WAREHOUSING AND LOGISTICS PRIVATE LIMITED
Account Number	94212239244
Account Since (Date/Year of Account Opening)	28.06.2016
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	No Facility
Account Operation	Current Account
Remarks (If any)	Banker gave us positive response about subject company. They are satisfied with their banking transaction.

Auditors :
Name :	Kinjal H Shah and Company Chartered Accountants
Address :	C-11/12, Commerce Centre, Tardeo, Mumbai – 400034, Maharashtra, India
Tel. No.:	91-22-23510332 / 23510425
E-Mail :	kinjal.shah@kinjalshahandco.com kinjalh_shah@rediffmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAJPS9714Q
Memberships :	Not Available
Collaborators :	Not Available
Other related parties :	Advani Olickal Healthcare Services Private Limited SMIQ Pharma Helping Hand

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	INR 10/- each	INR 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	INR 10/- each	INR 1.000 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.000	1.000	1.000
(b) Reserves & Surplus	72.271	37.129	13.828
(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)	73.271	38.129	14.828
(3) Non-Current Liabilities
(a) long-term borrowings	5.448	5.448	12.852
(b) Deferred tax liabilities (Net)	0.000	0.064	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	5.448	5.512	12.852
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	75.345	17.172	26.010
(c) Other current liabilities	3.131	1.334	1.913
(d) Short-term provisions	3.780	0.364	4.842
Total Current Liabilities (4)	82.256	18.870	32.765
TOTAL	160.975	62.511	60.445
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.541	1.180	1.240
(ii) Intangible Assets	0.025	0.049	0.000
(iii) Capital work-in-progress	0.000	0.416	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)	0.132	0.000	0.110
(d) Long-term Loan and Advances	0.066	0.064	0.103
(e) Other Non-current assets	0.000	0.000	0.021
Total Non-Current Assets	1.764	1.709	1.474
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	92.587	26.856	24.746
(c) Trade receivables	56.187	20.380	21.096
(d) Cash and cash equivalents	6.166	11.127	12.132
(e) Short-term loans and advances	3.124	2.418	0.976
(f) Other current assets	1.147	0.021	0.021
Total Current Assets	159.211	60.802	58.971
TOTAL	160.975	62.511	60.445

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	547.899	320.556	231.925
	Other Income	0.380	0.165	0.031
	TOTAL	548.279	320.721	231.956
Less	EXPENSES
	Purchases of Stock-in-Trade	533.152	267.504	210.904
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(65.731)	(2.110)	(8.966)
	Employees benefits expense	14.517	6.831	4.134
	Other expenses	12.661	12.727	9.613
	TOTAL	494.599	284.952	215.685
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	53.680	35.769	16.271
Less	FINANCIAL EXPENSES	0.379	0.015	0.001
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	53.301	35.754	16.270
Less/ Add	DEPRECIATION/ AMORTISATION	0.553	0.487	0.316
	PROFIT/ (LOSS) BEFORE TAX	52.748	35.267	15.954
Less	TAX	17.606	11.966	5.300
	PROFIT/ (LOSS) AFTER TAX	35.142	23.301	10.654
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	37.129	13.828	3.174
	Balance Carried to the B/S	72.271	37.129	13.828
	Earnings / (Loss) Per Share (INR)	351.42	233.01	32.28

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	12.841	19.257	8.524
Net cash flow from operating activity	(4.764)	7.291	3.225

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	37.43	23.21	33.20
Account Receivables Turnover (Income / Sundry Debtors)	9.75	15.73	10.99
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	51.58	23.43	45.01
Inventory Turnover (Operating Income / Inventories)	0.58	1.33	0.66
Asset Turnover (Operating Income / Net Fixed Assets)	34.28	21.74	13.12

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.54	0.39	0.75
Debt Equity Ratio (Total Liability / Networth)	0.07	0.14	0.87
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.12	0.49	2.21
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.02	0.04	0.08
Interest Coverage Ratio (PBIT / Financial Charges)	141.64	2384.60	16271.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	6.41	7.27	4.59
Return on Total Assets ((PAT / Total Assets) * 100)	%	21.83	37.28	17.63
Return on Investment (ROI) ((PAT / Networth) * 100)	%	47.96	61.11	71.85

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.94	3.22	1.80
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.81	1.80	1.04
G-Score Ratio Financial (Networth / Total Assets)	0.46	0.61	0.25
G-Score Ratio Debt (Debts / Equity Capital)	5.45	5.45	12.85
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.94	3.22	1.80

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	1.000	1.000	1.000
Reserves & Surplus	13.828	37.129	72.271
Share Application money pending allotment	0.000	0.000	0.000
Net worth	14.828	38.129	73.271
Long Term borrowings	12.852	5.448	5.448
Short Term borrowings	0.000	0.000	0.000
Total borrowings	12.852	5.448	5.448
Debt/Equity ratio	0.867	0.143	0.074

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	231.925	320.556	547.899
		38.215	70.921

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	231.925	320.556	547.899
Profit	10.654	23.301	35.142
	4.59%	7.27%	6.41%

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	Yes
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR/STATE OF AFFAIRS:

Revenue from operations for the financial year 2016-2017 was at 547.899 Million which was higher by 71% over the revenue of last year which was INR 320.556 Million in 2015-16. Profit after tax (PAT) for the year was INR 35.142 Million over the PAT of INR 23.301 Million in 2015-16.

UNSECURED LOAN

Unsecured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Suresh Advani	3.021	3.021
Geeta Advani	0.026	0.026
Mohit Advani	2.401	2.401
Total	5.448	5.448

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Electronic Equipment
• Laboratory Equipments
• Furniture and Fixture
• Vehicles
• Office Equipment
• Computers

OBSERVATION FORM

COMPANY NAME: SUPER SPECIALITIES PHARMA WAREHOUSING AND LOGISTICS PRIVATE LIMITED

ADDRESS: 201, Floor 2, Civic Centre, MMGS Margin Road, Dadar East, Mumbai – 400014, Maharashtra, India

CONTACT NO: 91-7710060862

PERSON TO WHOM WE MET: Mr. Mahesh DESIGNATION: Admin Department

NAME BOARD: SIGHTED

LOCATION: EASY

LANDMARK (IF ANY): MMGS Margin Road

TOTAL FLOORS OF THE BUILDING: 6^th FLOOR

SUBJECT SITUATED ON : 2^nd FLOOR

LOCALITY: COMMERCIAL

AREA: UPMARKET

NO. OF EMPLOYEES SEEN AT PREMISES: 7 (Approximately)

VISIBILITY OF ITEMS:

TELEPHONE

FAX MACHINE

TELEX

COMPUTERS

AIR CONDITIONER

OFFICE EQUIPMENT

FURNITURE ITEMS SIGHTED: YES

PROOF OF VISIT: PHOTOGRAPH

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 64.98
UK Pound	1	INR 90.82
Euro	1	INR 80.58

INFORMATION DETAILS

Information Gathered by :	SPR
Analysis Done by :	NYT
Report Prepared by :	SUJ

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.