MIRA INFORM REPORT

Report No. :	498006
Report Date :	20.03.2018

IDENTIFICATION DETAILS

Name :	ROHIT MEDICAL STORE
Registered Office :	V.P.O. Talai, Teshil Jhandutta, District Bilaspur-174030, Himachal Pradesh
Tel. No.:	91-1978-264187
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	1997
Capital Investment / Paid-up Capital :	INR 6.848 Million
IEC No.: [Import-Export Code No.]	Not Divulged
TIN No.:	Not Available
GSTN : [Goods & Service Tax Registration No.]	02AAXPB9790R1ZP
PAN No.: [Permanent Account No.]	AAXPB9790R
Legal Form :	Sole Proprietary Concern
Line of Business :	Distributor of Pharmaceutical Products (Confirmed by management)
No. of Employees :	7 (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 20000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was established in the year 1997 as a proprietorship firm and it is having satisfactory track records. It is engaged as distributor of the pharmaceutical products. For the financial year 2017, the firm has increased its revenue from operation and maintained average profitability margin of 2.71%. Rating takes into consideration firm’s sound financial risk profile marked by adequate capital base and low debt balance sheet. The firm also derives strength from its established track records of business operation and improvement in the revenue as well as profitability profile during the year. Banker (State Bank of India) has also given positive feedback and satisfied with firm’s banking transactions. Trade relations are reported as fair. Business is active. Payment terms are seems to be usually correct. In view of aforesaid, the firm can be considered for business dealings at usual trade terms and conditions. (Note- Site Visit report will be send 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

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 20.03.2018

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. Desh Bandhu
Designation :	Proprietor
Contact No.:	91-9129200030
Date :	19.03.2018

LOCATIONS

Registered Office :	V.P.O. Talai, Teshil Jhandutta, District Bilaspur-174030, Himachal Pradesh, India
Tel. No.:	91-1978-264187
Mobile No.:	91-9129200030/ 9882200187 (Mr. Desh Bandhu)
Fax No.:	Not Available
E-Mail :	rohitmedicalshahtalai@gmail.com
Location :	Owned

SOLE PROPRIETOR

Name :	Mr. Desh Bandhu
Designation :	Proprietor
Date of Birth/ Age :	03.08.1973
PAN No.:	AAXPB9790R

BUSINESS DETAILS

Line of Business :	Distributor of Pharmaceutical Products (Confirmed by management)
Products :	Pharmaceutical Products
Brand Names :	Not Available
Agencies Held :	Not Divulged
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Credit (30 Days)
Purchasing :	Credit (30 Days)

GENERAL INFORMATION

Suppliers :

• Abbott India Limited
• Aditya Medisales Limited, Solan
• Blue Cross Laboratories Limited
• Bharat Medical
• Disha Enterprises, Chandigarh
• FDC Limited, Mohali
• Elan Pharma (India) Private Limited

Customers :

Retailers, Others (Nursing Homes and Hospitals)

• R K Medical Store
• Public Care Clinic, Jaisinghpur
• Raijada Medical Store
• Ram Medical Store
• Ridhi Medical Store
• Sanjeevani Medicals Bassi
• Verma Chemist

No. of Employees :

7 (Approximately)

Bankers :

Banker Name :	State Bank of India
Branch :	V.P.O. Talai, The Jhandutta, District Bilaspur-174030, Himachal Pradesh, India
Person Name (With Designation) :	Mr. Palwinder Singh (Deputy Manager)
Contact Number :	91-9805004302
Name of Account Holder :	Rohit Medical Store
Account Number :	11513267484
Account Since (Date/Year of Account Opening) :	1997
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	INR 2.000 million
Account Operation :	Satisfactory
Remark :	Firm is regular and has good reputation and they have good business relation with firm.

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
State Bank of India C/c	1.012	0.986
State Bank of India Bolero Loan 9861	0.000	0.167
The Talai Gram Service Co-Operative Society	0.368	0.811
State Bank of India Car Loan	0.157	0.267
State Bank of India H/Loan	0.926	1.280
Total	2.463	3.511

Auditors :
Name :	Rajesh Ramesh and Associates Chartered Accountants
Address :	Near Bachat Bhavan Ghumarwin District Bilaspur – 174030, Himachal Pradesh, India
Mobile No.:	91-9816431813
Email :	rajeshsoni_2002@yahoo.com
Membership No.:	503310
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2017

Particulars	Amounts (INR In Million)	Particulars	Amounts (INR In Million)
To Withdrawals	0.212	By Balance B/d	5.617
To LIC	0.014	BY Interest From SIB A/c	0.002
To Interest On H/L	0.105	By LPG Subcidy	0.001
To Advance Income Tax/TDS	0.431	By I. Tax Refund	0.016
To Income Tax Self Assessment	0.042
To Balance As On 31-03-2017	6.848	By Net Profit For The Year	2.016
TOTAL	7.652	TOTAL	7.652

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016
EQUITY AND LIABILITIES
1] Share Capital		6.848	5.617
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		6.848	5.617
LOAN FUNDS
1] Secured Loans		2.463	3.511
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		2.463	3.511
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		9.311	9.128
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.667	4.821
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.285	4.697
	Sundry Debtors	1.085	2.208
	Cash & Bank Balances	1.447	1.351
	Other Current Assets	0.000	0.000
	Loans & Advances	0.416	0.488
Total Current Assets		9.233	8.744
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4.394	3.725
	Other Current Liabilities and Provisions	0.195	0.712
Total Current Liabilities		4.589	4.437
Net Current Assets		4.644	4.307
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		9.311	9.128

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Income	74.305	65.478
	Other Income	0.381	0.301
	TOTAL	74.686	65.779
Less	EXPENSES
	Cost of goods sold	68.732	60.632
	Accountant Salary	0.084	0.072
	Telephone Expenses	0.038	0.032
	Discount Account	1.238	1.005
	Electricity Charges	0.029	0.021
	Entertainment/Staff Welfare Expenses	0.046	0.038
	Festival Expenses	0.061	0.048
	Insurance/Processing Charges	0.041	0.034
	Audit Fee	0.008	0.006
	Postage And Couriers Expenses	0.058	0.046
	Printing & Stationary Expenses	0.063	0.052
	Salary To Staff	0.801	0.763
	Shop And Misc. Expenses	0.136	0.095
	Tea Expenses	0.036	0.028
	Tour & Travelling Expenses	0.291	0.233
	Vehicle Insurance Charges	0.056	0.046
	Vehicle Expenses	0.651	0.518
	Legal Fees	0.000	0.003
	TOTAL	72.369	63.672
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2.317	2.107
Less	FINANCIAL EXPENSES	0.133	0.266
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	2.184	1.841
Less/ Add	DEPRECIATION/ AMORTISATION	0.168	0.155
	NET PROFIT/ (LOSS)	2.016	1.686

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

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Average Collection Days (Sundry Debtors / Income * 365 Days)	5.33	12.31
Account Receivables Turnover (Income / Sundry Debtors)	68.48	29.65
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	23.33	22.42
Inventory Turnover (Operating Income / Inventories)	0.37	0.45
Asset Turnover (Operating Income / Net Fixed Assets)	0.50	0.44

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.51	0.59
Debt Equity Ratio (Total Liability / Networth)	0.36	0.63
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.67	0.79
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.68	0.86
Interest Coverage Ratio (PBIT / Financial Charges)	17.42	7.92

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016
Net Profit Margin ((PAT / Sales) * 100)	%	2.71	2.57
Return on Total Assets ((PAT / Total Assets) * 100)	%	14.50	12.43
Return on Investment (ROI) ((PAT / Networth) * 100)	%	29.44	30.02

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Current Ratio (Current Assets / Current Liabilities)	2.01	1.97
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.64	0.91
G-Score Ratio Financial (Networth / Total Assets)	0.49	0.41
G-Score Ratio Debt (Debts / Equity Capital)	0.36	0.63
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.01	1.97

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	31.03.2016	31.03.2017
	INR In Million	INR In Million
Share Capital	5.617	6.848
Reserves & Surplus	0.000	0.000
Net worth	5.617	6.848
Secured Loans	3.511	2.463
Unsecured Loans	0.000	0.000
Total borrowings	3.511	2.463
Debt/Equity ratio	0.625	0.360

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	65.478	74.305
		13.481

NET PROFIT MARGIN

Net Profit Margin	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	65.478	74.305
Profit	1.686	2.016
	2.57%	2.71%

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	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	No
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	INR
US Dollar	1	INR 64.87
UK Pound	1	INR 90.49
Euro	1	INR 79.91

INFORMATION DETAILS

Information Gathered by :	SHW
Analysis Done by :	PRA
Report Prepared by :	JYTK

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.