MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	507183
Report Date :	03.05.2018

IDENTIFICATION DETAILS

Name :	MKS HEALTHCARE LLP

Registered Office :	302, Narmada, Block-5, Pocket D-6, Vasant Kunj, New Delhi - 110070
Mobile No.:	91-9971703827 (Mr. Mukesh) 91-8700212593 (Mr. Prakash Roy)

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	19.11.2015

Capital Investment / Paid-up Capital :	INR 18.121 Million

LLPIN No.:	AAF-1872

IEC No.: [Import-Export Code No.]	Not Applicable (As informed by the management that firm does not have export and import)

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	ABBFM8535G

GSTN : [Goods & Service Tax Registration No.]	06ABBFM8535G1Z9

TIN No.:	Not Divulged

Legal Form :	Limited Liability Partnership

Line of Business :	Trader, Distributors of pharmaceuticals products (Registered Activity and also Confirmed by management)

No. of Employees :	30 (Approximately)

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Maximum Credit Limit :	USD 51800

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Subject is a Limited liability Partnership firm established in the year 2015. It is a trader and distributor of Pharmaceutical products. Mr. Prakash Roy (Assistant Purchase Manager) has provided information about the subject and further he claimed that the subject has commenced its business operation since 1st April, 2016. For the financial year 2017, the subject has earned revenue of 1715.181 million but has reported low profit margin of 1.05%. The satisfactory financial profile of the subject is marked by comfortable capital base. However, rating is constrained on account of slightly high debt balance sheet profile. Payment seems to be slow. In view of aforesaid, the subject can be considered for business dealings with some caution. Note: The correct name of the subject is “MKS Healthcare LLP”

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

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 31-03-2018.

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 03.05.2018

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.

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 (GENERAL DETAILS)

Name :	Mr. Prakash Roy
Designation :	Purchase Assistant Manager
Contact No.:	91-8700212593
Date :	02.05.2018

LOCATIONS

Registered Office:	302, Narmada, Block-5, Pocket D-6, Vasant Kunj, New Delhi – 110070, India
Tel. No.:	Not Available
Mobile No.:	91-9971703827 (Mr. Mukesh) 91-8700212593 (Mr. Prakash Roy)
Fax No.:	Not Available
E-Mail :	acc.mks31@gmail.com mkspharmaofficemail@gmail.com
Location:	Owned
Locality:	Commercial

Corporate Office:	633, SRS Tower, 14/5 Mathura Road, Sector 31, Faridabad -121003, Haryana, India

Warehouse:	1135,Sector-58, Faridabad -121004, Haryana, India

PARTNERS

As on 31.03.2017

Name :

Mr. Sanjay Gupta

Designation :

Designated Partner

Address :

109-A, Chawla Colony, Ballabgarh, Faridabad - 121004, Haryana, India

Date of Birth:

01.08.1974

Date of Appointment :

19.11.2015

DPIN No.:

00303665

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24100DL2014PTC273104	YOURS MEDICARE PRIVATE LIMITED	12/11/2014	-
U24232DL2005PLC139202	MKS PHARMA LIMITED	01/09/2006	-
U24233DL2006PTC150088	SKYMAP PHARMACEUTICALS PRIVATE LIMITED	24/06/2006	-
U33116DL2003PTC316235	SKYMAP HEALTHCARE PRIVATE LIMITED	30/09/2016	-
U51909DL2006PTC152567	MANEK TRADEX PRIVATE LIMITED	19/07/2010	-
U70109DL2017PTC324823	NORTIS INFRASTRUCTURE PRIVATE LIMITED	11/10/2017	-

LLPIN/FLLPIN	LLP Name	Begin Date	End Date
AAF-1873	COSMAX PHARMA LLP	19/11/2015	-
AAJ-3316	NORTIS LIFESCIENCES LLP	04/05/2017	-

Name :

Meenakshi Gupta

Designation :

Designated Partner

Address :

H. No 109/A, Chawla Colony, Ballabgarh, Faridabad - 121004, Haryana, India

Date of Birth:

16.11.1976

Date of Appointment :

19.11.2015

DPIN No.:

07248722

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24232DL2005PLC139202	MKS PHARMA LIMITED	30/09/2015	-
U33116DL2003PTC316235	SKYMAP HEALTHCARE PRIVATE LIMITED	30/09/2016	-
U70109DL2017PTC324823	NORTIS INFRASTRUCTURE PRIVATE LIMITED	11/10/2017	-

LLPIN/FLLPIN	LLP Name	Begin Date	End Date
AAF-1873	COSMAX PHARMA LLP	19/11/2015	01/04/2017
AAJ-3316	NORTIS LIFESCIENCES LLP	04/05/2017	-

KEY EXECUTIVES

Name :	Mr. Prakash Roy
Designation :	Purchase Assistant Manager

TOTAL OBLIGATION OF CONTRIBUTION OF PARTNERS

As on 31.03.2017

Names of Persons	INR In Million
Meenakshi Gupta	0.025
Sanjay Gupta	0.075
Total	0.100

BUSINESS DETAILS

Line of Business :	Trader, Distributors of pharmaceuticals products (Registered Activity and also Confirmed by management)

Products / Services :	Pharmaceuticals Products

Brand Names :	Not Divulged

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Cheque and Others (RTGS)

Purchasing :	Cheque and Others (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 :

Wholesalers, Retailers

Max Nova (Bangladesh)
Max Pharma
Triveni Medi Pharma

No. of Employees :

30 (Approximately)

Bankers :

HDFC Bank Limited, Faridabad, Haryana, India

Banker Name :	HDFC Bank Limited
Branch :	HDFC Bank House, Senapati Bapat Marg Lower Parel (West) Mumbai -400013, Maharashtra, India
Person Name (With Designation) :	--
Contact Number :	--
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 :	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Term Loan
From HDFC Bank Limited * (*Loan is secured by hypothecation of Porsche car repayable after the period of 12 months)	6.507	0.000

Short-term borrowings
Loans repayable on demand
From HDFC Bank Limited (Cash Credit Limit)* (*Loan from HDFC Bank Limited is primarily secured by first and exclusive charge on all current assets including present and future asses tans also secured by collateral security of immovable property)	17.999	0.000
Term Loan
From HDFC Bank Limited * (*Loan is secured by hypothecation of Porsche car repayable within the period of 12 months)	3.013	0.000

Total	27.519	0.000

Auditors :

Name :

Ajoy K Goyal and Associates

Chartered Accountants

Address :

310, GDITl Northex Tower, A-09, Netaji Subhash Place, Pitampura, New Delhi – 110034, India

Tel No.:

91-11-4508167

Fax No.:

91-11-4508167

Email:

ajoy_goyal@hotmail.com

Website:

www.ajoygoyalca.com

Memberships :

Not Available

Collaborators :

Not Available

Associate :

Skymap Pharma Private Limited
Medical Agencies
MKS Pharma Limited

CAPITAL STRUCTURE

AS ON 31.03.2017

CAPITAL ACCOUNT

Fixed Capital	31.03.2017 (INR in Million)
Sanjay Gupta	0.075
Meenakshi Gupta	0.025
Total	0.100

CURRENT ACCOUNT

Particular	31.03.2017 (INR in Million)
Sanjay Gupta
Opening balance	(0.011)
Add: Share of profit during the year	13.519
Add: interest on capital	0.008

Total (A)	13.516

Particular	31.03.2017 (INR in Million)
Meenakshi Gupta
Opening balance	(0.004)
Add: Share of profit during the year	4.506
Add: interest on capital	0.003

Total (B)	4.505
Total (A) + (B)	18.021

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Partner's Capital	0.100	0.100
(b) Partner’s current account	18.021	(0.014)
(b) Reserves & Surplus	0.000	0.000
(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)	18.121	0.086

(3) Non-Current Liabilities
(a) long-term borrowings	6.507	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	229.369	0.000
(d) long-term provisions	0.206	0.000
Total Non-current Liabilities (3)	236.082	0.000

(4) Current Liabilities
(a) Short term borrowings	21.012	0.000
(b) Trade payables	466.526	0.000
(c) Other current liabilities	43.319	0.000
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	530.857	0.000

TOTAL	785.060	0.086

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	17.123	0.000
(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)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.714	0.000
Total Non-Current Assets	17.837	0.000

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	252.164	0.000
(c) Trade receivables	506.205	0.000
(d) Cash and cash equivalents	5.788	0.086
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	3.066	0.000
Total Current Assets	767.223	0.086

TOTAL	785.060	0.086

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Income	1715.181	0.000
	Other Income	0.324	0.000
	TOTAL	1715.505	0.000

Less	EXPENSES
	Purchases of Stock-in-Trade	1784.830	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(252.164)	0.000
	Employees benefits expense	13.645	0.000
	Other expenses	114.803	0.014
	TOTAL	1661.114	0.014

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	54.391	(0.014)

Less	FINANCIAL EXPENSES	24.682	0.000

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	29.709	(0.014)

Less/ Add	DEPRECIATION/ AMORTISATION	1.604	0.000

	PROFIT/ (LOSS) BEFORE TAX	28.105	(0.014)

Less	TAX	10.079	0.000

	PROFIT/ (LOSS) AFTER TAX	18.026	(0.014)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Average Collection Days (Sundry Debtors / Income * 365 Days)	107.72	0.00

Account Receivables Turnover (Income / Sundry Debtors)	3.39	0.00

Average Payment Days (Sundry Creditors / Purchases * 365 Days)	95.41	0.00

Inventory Turnover (Operating Income / Inventories)	0.22	0.00

Asset Turnover (Operating Income / Net Fixed Assets)	3.18	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.68	0.00

Debt Equity Ratio (Total Liability / Networth)	1.52	0.00

Current Liabilities to Networth (Current Liabilities / Net Worth)	29.30	0.00

Fixed Assets to Networth (Net Fixed Assets / Networth)	0.94	0.00

Interest Coverage Ratio (PBIT / Financial Charges)	2.20	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016
Net Profit Margin ((PAT / Sales) * 100)	%	1.05	0.00

Return on Total Assets ((PAT / Total Assets) * 100)	%	2.30	(16.28)

Return on Investment (ROI) ((PAT / Networth) * 100)	%	99.48	(16.28)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Current Ratio (Current Assets / Current Liabilities)	1.45	0.00

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.97	0.00

G-Score Ratio Financial (Networth / Total Assets)	0.02	1.00

G-Score Ratio Debt (Debts / Equity Capital)	275.19	0.00

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.45	0.00

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
Partner's Capital	0.100	0.100
Partner’s current account	(0.014)	18.021
Reserves & Surplus	0.000	0.000
Net worth	0.086	18.121

long-term borrowings	0.000	6.507
Short term borrowings	0.000	21.012
Total borrowings	0.000	27.519
Debt/Equity ratio	0.000	1.519

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	Yes
18]	Major suppliers	No
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 about 2 years and 4 months	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	No
29]	Profitability for last about 2 years and 4 months	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

INDEX OF CHARGES:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	M03308772	100052367	HDFC BANK LIMITED	01/08/2016	23/01/2017	-	125000000.0	HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL WEST MUMBAI 400013, MAHARASHTRA INDIA

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 66.66
UK Pound	1	INR 90.66
Euro	1	INR 80.00

INFORMATION DETAILS

Information Gathered by :	AKY

Analysis Done by :	VAR

Report Prepared by :	RKI

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.