MIRA INFORM REPORT

Report No. :	508617
Report Date :	19.05.2018

IDENTIFICATION DETAILS

Name :	VYOME BIOSCIENCES PRIVATE LIMITED
Registered Office :	D-31, Kamalanjali Akota, Off Old Padra Road, Vadodara-390020, Gujarat
Tel. No.:	91-11-43034661
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	19.08.2010
Com. Reg. No.:	04-099141
Capital Investment / Paid-up Capital :	INR 3.341 Million
CIN No.: [Company Identification No.]	U33110GJ2010PTC099141
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCV3774A
TIN No.:	07486906317
GSTN : [Goods & Service Tax Registration No.]	07AADCV3774A1ZH
Legal Form :	Private Limited Liability Company
Line of Business :	The Company operates through two divisions in India, The Research and Development (R&D) division and Sales and Marketing (S&M) division: · The Research and Development activities carried out of the Company includes early Stage development of drug, formulation development, analytical chemistry and development and In-vitro biology work, pre-clinical trial [animal studies] and clinical trial [studies of testing products on humans] · Sales and Marketing Division of the company would involve sales and marketing over the counter [OTC] skin healthcare products which primarily comprise activities of launching new products with own branding, digital marketing advertising and distribution of products. [Registered Activity]
No. of Employees :	Not Divulged

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 3247000
Status :	Good
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2010. It is engaged in research and development in Pharmaceuticals, Biotechnology, Nanotechnology and Life Sciences. For the financial year 2017, the revenue of the company has decreased by 49.71% and has incurred operational loss. The sound financial profile of the company is marked by strong networth base along with strong debt coverage indicators due to debt free balance sheet profile. The rating takes into consideration the equity infused by its promoters. However, rating is constrained on account of continue loss incurred by the company. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

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 31-03-2018.

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 19.05.2018

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.

INFORMATION DECLINED BY

Name :	Mr. Pramod
Designation :	Purchase Manager
Contact No.:	91-9911933633
Date :	13.05.2018

LOCATIONS

Registered Office :	D-31, Kamalanjali Akota, Off Old Padra Road, Vadodara-390020, Gujarat, India
Tel. No.:	91-11-45152531/ 43034661/ 45797330
Mobile No.:	91-9911933633 [Mr. Pramod]
Fax No.:	Not Available
E-Mail :	cs@vyome.in info@vyome.in hr@vyome.in
Website :	http://www.vyome.in
Corporate Office :	Plot No. 465, Ground Floor, F.I.E., Patparganj Industrial Area, Delhi, India- 110092, India

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Raghunath Anant Mashelkar

Designation :

Director

Address :

D-4, Varsha Park, Raghunath Bunglow Baner Road, Baner Pune – 411045, Maharashtra, India

Date of Birth/Age :

01.01.1943

Date of Appointment :

03.11.2010

DIN No.:

00074119

Other Directorship :

CIN/FCRN	Company Name	Begin Date
L15410MH1991PLC135359	GODREJ AGROVET LIMITED	18/07/2017
L17110MH1973PLC019786	RELIANCE INDUSTRIES LIMITED	12/10/2007
L24110MH1947PLC005719	PIRAMAL ENTERPRISES LIMITED	25/07/2013
L29299PN1980PLC022787	THERMAX LIMITED.	22/07/2008
U22121PN1948PTC006177	SAKAL PAPERS PRIVATE LIMITED	20/09/2008
U24232DL2011PTC217394	INVICTUS ONCOLOGY PRIVATE LIMITED	10/06/2013
U73100DL2017PTC322917	AKAMARA BIOMEDICINE PRIVATE LIMITED	30/08/2017
U74210MH1977GAT019689	GHARDA SCIENTIFIC RESEARCH FOUNDATION	29/07/2010
U85100MH1991GAT061430	GHARDA MEDICAL & ADVANCED TECHNOLOGIES FOUNDATION	28/09/2012

Name :

Richard Alan Rosling

Designation :

Additional Director

Address :

Apt 1, 17/F, Block B, Elm Tree Towers,10 Chun Fai Road, Hongkong Na Hk

Date of Appointment :

29.09.2015

DIN No.:

00311138

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U33110GJ2010PTC099141	VYOME BIOSCIENCES PRIVATE LIMITED	29/09/2016
U40101MH2010PTC205236	KIRAN SOLAR ONE PRIVATE LIMITED	16/09/2011
U40101MH2011PTC215111	SOLARFIELD ENERGY FOUR PRIVATE LIMITED	22/07/2011
U40106MH2010PTC204421	KIRAN ENERGY SOLAR POWER PRIVATE LIMITED	18/06/2010
U40108MH2011PTC224527	KIRAN ENERGY TECHNOLOGIES PRIVATE LIMITED	01/12/2011
U40108MH2013PTC240767	SOLARFIELD ENERGY FIVE PRIVATE LIMITED	27/02/2013
U40300MH2010PTC204769	SOLARFIELD ENERGY PRIVATE LIMITED	18/08/2011
U40300MH2011PTC215006	SOLARFIELD ENERGY TWO PRIVATE LIMITED	28/09/2012
U40300MH2011PTC225020	SOLARFIELD ENERGY PROJECTS PRIVATE LIMITED	16/12/2011
U40300MH2011PTC225415	KIRAN RENEWABLES PRIVATE LIMITED	26/12/2011

Name :

Mr. Rajiv Maliwal

Designation :

Director

Address :

10 Shree Apartments 15th Road, Khar (West), Mumbai – 400052, Maharashtra, India

Date of Appointment :

08.08.2014

DIN No.:

00869035

Other Directorship :

CIN/FCRN	Company Name	Begin Date
L27101PN1985PLC038031	PRAJ INDUSTRIES LIMITED	23/07/2010
L65191GA1994PLC001620	CENTURION BANK OF PUNJAB LIMITED	25/07/2003
U33110GJ2010PTC099141	VYOME BIOSCIENCES PRIVATE LIMITED	08/08/2014
U85300KA2013PTC069291	HEALTHVISTA INDIA PRIVATE LIMITED	30/11/2017

Name :

Mr. Shiladitya Sengupta

Designation :

Director

Address :

3411 Chestnut St Apt 602 Philadelphia Pa 19104 Us

Date of Birth/Age :

10.09.1972

Date of Appointment :

19.08.2010

DIN No.:

01837274

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U24232DL2011PTC217394	INVICTUS ONCOLOGY PRIVATE LIMITED	11/04/2011
U73100DL2017PTC322917	AKAMARA BIOMEDICINE PRIVATE LIMITED	30/08/2017
U73100GJ2017PLC098900	VYOME THERAPEUTICS LIMITED	30/08/2017
U85190KA2008PTC053507	MITRA LIFE SCIENCES INDIA PRIVATE LIMITED	23/04/2008
U93000KA2011NPL061831	INDIA INNOVATION RESEARCH CENTER	26/12/2011

Name :

Kumar Shiralagi

Designation :

Director

Address :

Villa -93, Adarsh Palm Retreat Dev Arabisana Halli, Marathahalli Outer Ring Road, Banglore – 560103, Karnataka, India

Date of Appointment :

22.10.2012

DIN No.:

01873430

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U72200KA1998PTC024425	UNILOG CONTENT SOLUTIONS PRIVATE LIMITED	08/07/2015
U72200KA2008PTC045222	GLOBAL DELIGHT TECHNOLOGIES PRIVATE LIMITED	29/09/2015
U72300MH2007PTC168184	GERMINAIT SOLUTIONS PRIVATE LIMITED	29/09/2014
U72900KA2000PTC027961	ROBOSOFT TECHNOLOGIES PRIVATE LIMITED	12/06/2013
U72900KA2008PTC047989	99GAMES ONLINE PRIVATE LIMITED	29/09/2015

Name :

Mrs. Ranjana Kumar

Designation :

Director

Address :

Plot No. 81, Whisper Valley H S Dargah, Toli Chowki, Hyderabad – 500008, Telangana, India

Date of Birth/Age :

10.12.1945

Date of Appointment :

03.11.2010

DIN No.:

02930881

Other Directorship :

CIN/FCRN	Company Name	Begin Date
L15412WB1918PLC002964	BRITANNIA INDUSTRIES LTD	12/08/2014
L15491WB1962PLC031425	TATA GLOBAL BEVERAGES LIMITED	23/08/2010
L21010AP1964PLC001008	INTERNATIONAL PAPER APPM LIMITED	22/03/2012
L63011TN2004PLC054948	RANE BRAKE LINING LIMITED	20/07/2015
U85110TG1998PTC029914	RAINBOW CHILDREN'S MEDICARE PRIVATE LIMITED	01/08/2014

Name :

Venkateswarlu Nelabhotla

Designation :

Managing Director

Address :

F No.202, Windsor Castle, St No. 6, Uma Nagar Kundanbagh Begumpet Hyderabad – 500016, Andhra Pradesh, India

Date of Appointment :

08.08.2013

DIN No.:

03288992

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U24100TG2013PTC090593	NEWVOJAX HEALTH AND WELLNESS PRIVATE LIMITED	18/10/2013
U33110GJ2010PTC099141	VYOME BIOSCIENCES PRIVATE LIMITED	30/09/2013
U74140TG2004PTC042666	CUSTOMER LAB SOLUTIONS PRIVATE LIMITED	17/02/2004
U74999HR2012PTC047743	BLUU PAYMENTS PRIVATE LIMITED	26/11/2012

Name :

Mr. Bhaskar Chaudhuri

Designation :

Additional Director

Address :

6938, Calabazas Creek Circle San Jose California 95129 United States

Date of Appointment :

20.08.2015

DIN No.:

07267277

Name :

Christopher Nishan Garabedian

Designation :

Director

Address :

135 Clarendon St Apt 11c Boston , Ma 02116-5282 Boston 02116 Us

Date of Appointment :

16.08.2016

DIN No.:

07578751

KEY EXECUTIVES

Name :	Mr. Pramod
Designation :	Purchase Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders [Equity Shares]	No. of Shares
Shiladitya Sengupta	18500
Nelabhotla Venkateswarlu	1256
Rajesh Gokhale	18500
Rajeev Mantri	47
Navam Capital Private Ltd	26912
Kalaari Capital Partners ll, LLC	89
Perceptive Life Sciences Master Fund Ltd	37
Spring Healthcare India Trust, India	52
Aarin Capital Partners	35
Romulus Vyome Special Opportunity LP	20
Raghunath Anat Mashelkar	1490
Ranjana Kumar	1046
Suvujoy Sen Gupta	1046
Vyome Biosciences trust	12894
Jeffery Karp	335
Ermanno Gherardi	1674
Richard Buchta	184
Total	84117

Names of Shareholders [Preference Shares] [Class I Series A]	No. of Shares
Kalari Capital Partners II, LLC, Mauritius	43785
Navam Capital Private Limited, India	3503
Aarin Capital Partners, India	17514
Total	64802

Names of Shareholders [Preference Shares] [Class II Series B]	No. of Shares
Kalari Capital Partners II, LLC, Mauritius	15715
Spring Healthcare India Trust, India	37014
Navam Boitech Ventures	2471
Aarin Capital Partners, India	5944
Total	61144

Names of Shareholders [Preference Shares] [Class III Series C]	No. of Shares
Kalari Capital Partners II, LLC, Mauritius	18496
Perceptive Life Sciences Master Fund Ltd	64700
Spring Healthcare India Trust, India	13251
Aarin Capital Partners	8282
Romulus Vyome Special Opportunity LP	15887
Raghunath Anat Mashelkar	690
Navroz Udwadia	1387
Rishab Mariwara	1380
Total	124073

AS ON: 05.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters – Individual/ Hindu Undivided Family – Indian	23.54
Promoters – Individual/ Hindu Undivided Family Non-resident Indian (NRI)	21.99
Public/Other than promoters – Individual/ Hindu Undivided Family – Indian	4.25
Public/Other than promoters – Individual/ Hindu Undivided Family – Non-resident Indian (NRI)	2.61
Public/Other than promoters - Body Corporate	47.36
Public/Other than promoters - Venture capital	0.25
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company operates through two divisions in India, The Research and Development (R&D) division and Sales and Marketing (S&M) division:

· The Research and Development activities carried out of the Company includes early Stage development of drug, formulation development, analytical chemistry and development and In-vitro biology work, pre-clinical trial [animal studies] and clinical trial [studies of testing products on humans]

· Sales and Marketing Division of the company would involve sales and marketing over the counter [OTC] skin healthcare products which primarily comprise activities of launching new products with own branding, digital marketing advertising and distribution of products.

[Registered Activity]

Products :

ITC Code No.	Product Descriptions
99611750	Perfumery Articles, Cosmetics Articles and Toiletries
99979900	Other miscellaneous services

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Person Name (with Designation):	--
Contact Number:	--
Name of Account Holder:	--
Account Number:	--
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	--

Auditors :
Name :	Haribhakti and Company LLP Chartered Accountants
Address :	3^rd Floor, OKhla Industrial Area, Phase III, New Delhi – 110020, India
Tel. No.:	91-11-47119999
Fax No.:	91-11-47119998
PAN No.:	AAAFH2010F
Memberships :	Not Available
Collaborators :	Not Available
Enterprises in which key management personnel and their relatives are able to exercise significant influence :	Invictus Oncology Private Limited

CAPITAL STRUCTURE

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
600000	Equity Shares	INR 10/- each	INR 6.000 Million
400000	Preference Shares	INR 10/- each	INR 4.000 Million
	Total		INR 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
84117	Equity Shares	INR 10/- each	INR 0.841 Million
64802	Preference Shares [Class I Series A]	INR 10/- each	INR 0.648 Million
61144	Preference Shares [Class II Series B]	INR 10/- each	INR 0.611 Million
124073	Preference Shares [Class III Series C]	INR 10/- each	INR 1.241 Million
	Total		INR 3.341 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	3.341	2.098	1.408
(b) Reserves & Surplus	1132.833	342.423	283.736
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.478	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1136.652	344.521	285.144
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.416
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.540	0.000	0.000
(d) long-term provisions	13.074	8.880	4.644
Total Non-current Liabilities (3)	13.614	8.880	5.060
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	137.362	39.922	25.589
(d) Short-term provisions	0.099	0.069	0.066
Total Current Liabilities (4)	137.461	39.991	25.655
TOTAL	1287.727	393.392	315.859
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	25.923	30.864	32.981
(ii) Intangible Assets	12.185	13.941	17.310
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	522.240	265.227	136.466
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	45.048	25.845	11.909
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	605.396	335.877	198.666
(2) Current assets
(a) Current investments	250.320	0.000	0.000
(b) Inventories	4.199	6.163	0.522
(c) Trade receivables	3.108	3.456	1.242
(d) Cash and cash equivalents	398.259	44.977	104.751
(e) Short-term loans and advances	18.669	2.890	6.495
(f) Other current assets	7.776	0.029	4.183
Total Current Assets	682.331	57.515	117.193
TOTAL	1287.727	393.392	315.859

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Revenue from Operations	2.405	4.782	2.928
		Other Income	26.943	6.672	10.430
		TOTAL	29.348	11.454	13.358
Less	EXPENSES
		Purchases of Traded Goods	0.000	2.513	2.137
		Changes in inventories Traded Goods	(0.478)	(0.245)	(0.522)
		Employees benefits expense	41.193	48.607	31.789
		Other expenses	89.005	70.876	81.787
		TOTAL	129.720	121.751	115.191
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(100.372)	(110.297)	(101.8330
Less	FINANCIAL EXPENSES		0.079	0.190	0.039
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(100.451)	(110.487)	(101.872)
Less/ Add	DEPRECIATION/ AMORTISATION		8.721	7.372	3.193
	PROFIT/ (LOSS) BEFORE TAX		(109.172)	(117.859)	(105.065)
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		(109.172)	(117.859)	(105.065)
	Earnings/ (Loss) Per Share (INR)		(1300.74)	(1475.10)	(2488.34)

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 flow 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)	471.69	263.79	154.83
Account Receivables Turnover (Income / Sundry Debtors)	0.77	1.38	2.36
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	(23.90)	(17.90)	(195.08)
Asset Turnover (Operating Income / Net Fixed Assets)	(0.18)	(0.36)	(0.55)

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.11	0.10	0.08
Debt Equity Ratio (Total Liability / Networth)	0.00	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.12	0.12	0.09
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.49	0.90	0.65
Interest Coverage Ratio (PBIT / Financial Charges)	(1270.53)	(580.51)	(2611.10)

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	(4539.38)	(2464.64)	(3588.29)
Return on Total Assets ((PAT / Total Assets) * 100)	%	(8.48)	(29.96)	(33.26)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(9.60)	(34.21)	(36.85)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	4.96	1.44	4.57
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	4.93	1.28	4.55
G-Score Ratio Financial (Networth / Total Assets)	0.88	0.88	0.90
G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00	0.30
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	4.96	1.44	4.57

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

Particulars	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	1.408	2.098	3.341
Reserves & Surplus	283.736	342.423	1132.833
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.478
Net worth	285.144	344.521	1136.652
long-term borrowings	0.416	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.416	0.000	0.000
Debt/Equity ratio	0.001	0.000	0.000

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	2.928	4.782	2.405
		63.320	(49.707)

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	2.928	4.782	2.405
Profit/ (Loss)	(105.065)	(117.859)	(109.172)
	(3588.29%)	(2464.64%)	(4539.38%)

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	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	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
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	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY

BACKGROUND

Subject was incorporated in India on August 19, 2010. The Company operates through two divisions in India, The Research and Development (R&D) division and Sates and Marketing (S&M) division. The R&D activities carried out of the Company includes early Stage development of drug, formulation development, analytical chemistry and development and In-vitro biology work, pre-clinical trial [animal studies] and clinical trial [studies of testing products on humans] whereas the s and M Division of the company would involve sales and marketing over the counter [OTC] skin healthcare products which primarily comprise activities of launching new products with own branding, digital marketing advertising and distribution of products.

FIXED ASSETS:

· Laboratory

· Lab Machinery

· Leasehold Improvement

· Office Equipment’s

· Furniture

· Computer

· Moulds

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 67.96
UK Pound	1	INR 91.88
Euro	1	INR 80.28

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	VAR
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	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.