MIRA INFORM REPORT

Report No. :	509162
Report Date :	23.05.2018

IDENTIFICATION DETAILS

Name :	AMNEAL PHARMACEUTICALS PRIVATE LIMITED
Registered Office :	882/1-871, Village Rajoda Near Hotel Kankavati, Bavla, Ahmedabad – 382220, Gujarat
Mob. No.:	91-79-67778300
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	07.04.2006
Com. Reg. No.:	04-048109
Capital Investment / Paid-up Capital :	INR 3080.087 Million
CIN No.: [Company Identification No.]	U24231GJ2006PTC048109
IEC No.: [Import-Export Code No.]	0807012131
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
GSTN : [Goods & Service Tax Registration No.]	24AAGCA0781K1ZP
TIN No.:	Not Divulged
PAN No.: [Permanent Account No.]	AAGCA0781K
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer, Exporter and Importer of Pharmaceutical Products and undertaking of scientific research activities. [Registered activity and also confirmed by management]
No. of Employees :	3000 (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 17500000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Exist
Comments :	Subject was incorporated in the year 2006. It is a subsidiary of Amneal Singapore Pte Limited, Singapore. It is engaged in manufacturing of pharmaceutical products, undertaking of scientific research activities, including due diligence analytical testing for abbreviated new Drug application (ANDA) and marketing of research work and resulting products. As per the financial records of 2017, the company has achieved a favourable growth of 29.86% in its revenue as compared to the previous year and has gained a fair profitability margin of 11.15%. The company has sound financial position marked by robust capital structure along with low debt balance sheet profile. However, rating is constrained on account of low reserve base as compared to its capital base. 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.

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 31-03-2018.

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 21.05.2018.

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 PARTED BY [GENERAL DETAILS]

Name :	Dhwani Bansara
Designation :	Accounts Executive
Contact No.:	91-79-67778300
Date :	15.05.2018

LOCATIONS

Registered Office :	882/1-871, Village Rajoda Near Hotel Kankavati, Bavla, Ahmedabad – 382220, Gujarat, India
Tel. No.:	91-79-67778300 91-2714-304700
Mobile No.:	91-9909527409 (Mr. Chirag)
Fax No.:	91-2714-304704
E-Mail :	info@amnealindia.com pushpaj@amnealindia.com India@amneal.com vpindia@amneal.com sales@amneal.com
Website :	www.amneal.com
Location :	Owned
Locality :	Industrial
Plant 2 :	Plot No. 15, 16, 17, Pharmez (Speual Economic Zone - Sez) Sarkhej Bavla Highway, Village Matoda, Taluka: Sanand, District: Ahmedabad – 382110, Gujarat, India
Tel. No.:	91-2714-671500
Fax No.:	91-2714-671704
Location :	Owned
Locality :	Industrial
Plant 3 :	P. No. S-3, S-4, S-5A, TSIIC-SEZ, Village Polepally, Mandal : Jadcherla, Mahabubnagar District – 509302, Telangana India
Corporate Office :	508-514, Venus Atlantis Corporate Park, Prahladnagar, Ahmedabad – 380015, Gujarat, India
New York Administrative Offices :	85 Adams Avenue, Hauppauge, New York 11788
Tel. No.:	631.952.0214
Fax No.:	631.656.1009
Account Management, Sales Operations and Customer Response Offices :	118 Beaver Trail, Glasgow, KY 42141
Tel. No.:	866.525.7270/ 270.678.9393
Fax No.:	866.525.7271
E-Mail :	sales@amneal.com customerresponse@amneal.com
Business Development and Corporate Offices :	440 U.S. Highway 22 East, Suite 104, Bridgewater, NJ 08807
Tel. No.:	908.947.3120/ 908.947.3122
Fax No.:	908.947.4146
E-Mail :	businessdevelopment@amneal.com
U.S. Corporate Offices :	400 Crossing Boulevard, 3rd Floor Bridgewater, New Jersey 08807
Tel. No.:	908.947.3120
Fax No.:	908.947.3146

DIRECTORS

As on 31.03.2018

Name :

Mr. Suresh Punambhai Patel

Designation :

Whole Time Director

Address :

Block No.54, Shri Somnath Nagar CHS Limited, Behind Sanghvi School, Navrangapura Road, Wadaj, Ahmedabad – 380 013, Gujarat, India

Date of Birth/Age :

15.03.1961

Date of Appointment :

07.04.2006

PAN No.:

ACRPP4822E

DIN No.:

01856345

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U24230GJ1998PTC084755	AMNEAL ONCOLOGY PRIVATE LIMITED	27/12/2014	-
U73100GJ2008PTC053430	AMNEAL LIFE SCIENCES PRIVATE LIMITED	31/03/2008	-
U24233GJ2008PTC068526	RAKS PHARMA PRIVATE LIMITED	30/09/2011	-

Name :

Mr. Kanubhai Punambhai Patel

Designation :

Director

Address :

22, Ramyakunj Society, Galaxy Cinema, Naroda, Ahmedabad – 382 325, Gujarat, India

Date of Appointment :

17.11.2007

DIN No.:

01883090

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U73100GJ2008PTC053430	AMNEAL LIFE SCIENCES PRIVATE LIMITED	31/03/2008	-

Name :

Mr. Nikunj Bansibhai Patel

Designation :

Whole Time Director

Address :

A/29/A, Karmachari Nagar Society, Part-1, Opposite Alkapuri Society, Ghatlodia, Ahmedabad – 380 061, Gujarat, India

Date of Birth/Age :

31.08.1942

Date of Appointment :

01.09.2009

PAN No.:

ALJPP2060M

DIN No.:

02790495

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U24230GJ1998PTC084755	AMNEAL ONCOLOGY PRIVATE LIMITED	27/12/2014	-
U73100GJ2008PTC053430	AMNEAL LIFE SCIENCES PRIVATE LIMITED	30/09/2013	-
U24233GJ2008PTC068526	RAKS PHARMA PRIVATE LIMITED	30/09/2011	-

Name :

Mr. Pankil Narendrakumar Patel

Designation :

Director

Address :

2, Alok Bunglows, Sun N Step Club Road, Near Nirant Park Society, Thaltej, Ahmedabad – 380054, Gujarat, India

Date of Appointment :

21.09.2017

DIN No.:

07927621

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24233GJ2008PTC068526	RAKS PHARMA PRIVATE LIMITED	30/09/2017	-

KEY EXECUTIVES

Name :	Dhwani Bansara
Designation :	Accounts Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares
Amneal Singapore Private Limited, Singapore	303778955
Suresh Patel	377059
Nikunj Patel	1904129
Kanu Patel	1821648
Pankil Patel	126923
Total	308008714

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoter – (Individual/ Hindu Undivided Family – Indian)	0.74
Promoter – (Individual/ Hindu Undivided Family – Non Resident Indian)	0.59
Promoter - Bodies corporate	98.63
Public/Other than promoters – (Individual/ Hindu Undivided Family – Indian)	0.04
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Pharmaceutical Products and undertaking of scientific research activities. [Registered activity and also confirmed by management]

Products :

Item Code No.	Product Description
2100	Manufacture of pharmaceuticals, medicinal chemical and botanical Products

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

Finished Goods

Countries :

• Europe
• USA

Imports :

Products :

Equipment

Countries :

• Singapore
• Russia
• Switzerland

Terms :

Selling :

Cash, Advance Payment, L/C, Cheque and Credit (30/60/90 days)

Purchasing :

Cash, Advance Payment, L/C, Cheque and Credit (30/60/90 days)

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

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

No. of Employees :

3000 (Approximately)

Bankers :

Bank Name	Bank of Baroda
Branch	S.G. Highway, Ahmedabad – 380045, Gujarat, India
Person Name (With Designation)	--
Contact Number	91-79-26856165 [Ringing]
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Bank Name	HDFC Bank Limited
Branch	S.G. Road, Bodakdev, Ahmedabad – 380054, Gujarat, India
Person Name (With Designation)	--
Contact Number	91-79-61606161 [Ringing]
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Auditors :
Name :	S R B C and Company LLP Chartered Accountants
Address :	2nd Floor, Shivalik Ishaan, Near C. N. Vidhyalaya, Ambavadi, Ahmedabad - 380015, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	ACHFS9117R
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Amneal Singapore Pte Limited, Singapore
Ultimate Holding Company :	Amneal Pharmaceutical LLC
Subsidiary Company :	Amneal Oncology Private Limited
Fellow Subsidiary :	Raks Pharma Private Limited Amneal Pharmaceuticals Company GmbH Amneal Ireland Limited Amneal Pharma Australia Pty Limited

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
330000000	Equity Shares	INR 10/- each	INR 3300.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
308008714	Equity Shares	INR 10/- each	INR 3080.087 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	3080.087	3080.087	3080.087
(b) Reserves & Surplus	3058.759	2045.449	1486.763
(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)	6138.846	5125.536	4566.850
(3) Non-Current Liabilities
(a) long-term borrowings	4973.449	4175.547	3521.079
(b) Deferred tax liabilities (Net)	0.000	20.360	17.426
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	138.132	76.485	66.376
Total Non-current Liabilities (3)	5111.581	4272.392	3604.881
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	1477.361	1134.261	556.654
(c) Other current liabilities	1346.993	719.153	572.457
(d) Short-term provisions	16.220	7.387	4.133
Total Current Liabilities (4)	2840.574	1860.801	1133.244
TOTAL	14091.001	11258.729	9304.975
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5250.680	3618.119	3235.181
(ii) Intangible Assets	24.156	13.332	10.779
(iii) Capital work-in-progress	790.607	1547.230	1184.788
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2084.999	2084.999	2084.999
(c) Deferred tax assets (net)	11.026	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	249.988
(e) Other Non-current assets	231.694	246.964	13.186
Total Non-Current Assets	8393.162	7510.644	6778.921
(2) Current assets
(a) Current investments	0.000	0.000	59.283
(b) Inventories	3717.331	2088.994	1366.141
(c) Trade receivables	328.809	629.931	288.930
(d) Cash and cash equivalents	515.686	204.647	334.858
(e) Short-term loans and advances	2.381	0.691	338.316
(f) Other current assets	1133.632	823.822	138.526
Total Current Assets	5697.839	3748.085	2526.054
TOTAL	14091.001	11258.729	9304.975

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	9100.394	7007.953	5441.509
	Other Income	250.286	53.711	38.205
	TOTAL	9350.680	7061.664	5479.714
Less	EXPENSES
	Cost of Materials Consumed	4611.143	3288.168	2831.531
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(265.593)	31.942	(122.902)
	Employees benefits expense	1254.457	903.099	703.314
	CSR Expenditure	0.000	0.000	4.455
	Other expenses	1616.584	1220.825	896.751
	TOTAL	7216.591	5444.034	4313.149
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2134.089	1617.630	1166.565
Less	FINANCIAL EXPENSES	217.649	311.329	314.228
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1916.440	1306.301	852.337
Less	DEPRECIATION/ AMORTISATION	667.559	501.454	383.683
	PROFIT/ (LOSS) BEFORE TAX	1248.881	804.847	468.654
Less	TAX	234.293	250.582	59.154
	PROFIT/ (LOSS) AFTER TAX	1014.588	554.265	409.500
	IMPORTS
	Raw Materials	NA	1413.613	1.253
	Capital Goods	NA	539.022	966.344
	TOTAL IMPORTS	NA	1952.635	967.597
	Earnings / (Loss) Per Share (INR)	3.29	1.80	--

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 operating activity	1091.283	333.632	(19.013)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	13.19	32.81	19.38
Account Receivables Turnover (Income / Sundry Debtors)	27.68	11.12	18.83
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	116.94	125.91	71.76
Inventory Turnover (Operating Income / Inventories)	0.57	0.77	0.85
Asset Turnover (Operating Income / Net Fixed Assets)	0.35	0.31	0.26

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.55	0.54	0.50
Debt Equity Ratio (Total Liability / Networth)	0.81	0.81	0.77
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.46	0.36	0.25
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.99	1.01	0.97
Interest Coverage Ratio (PBIT / Financial Charges)	9.81	5.20	3.71

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	11.15	7.91	7.53
Return on Total Assets ((PAT / Total Assets) * 100)	%	7.20	4.92	4.40
Return on Investment (ROI) ((PAT / Networth) * 100)	%	16.53	10.81	8.97

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	2.01	2.01	2.23
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.70	0.89	1.02
G-Score Ratio Financial (Networth / Total Assets)	0.44	0.46	0.49
G-Score Ratio Debt (Debts / Equity Capital)	1.61	1.36	1.14
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.01	2.01	2.23

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	3080.087	3080.087	3080.087
Reserves & Surplus	1486.763	2045.449	3058.759
Net worth	4566.850	5125.536	6138.846
long-term borrowings	3521.079	4175.547	4973.449
Short term borrowings	0.000	0.000	0.000
Total borrowings	3521.079	4175.547	4973.449
Debt/Equity ratio	0.771	0.815	0.810

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	5441.509	7007.953	9100.394
		28.787	29.858

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	5441.509	7007.953	9100.394
Profit	409.500	554.265	1014.588
	7.53%	7.91%	11.15%

ABRIDGED BALANCE SHEET – (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2017	31.03.2016
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	3080.087	3080.087
(b) Reserves & Surplus	3255.845	2143.758
(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)	6335.932	5223.845
(3) Non-Current Liabilities
(a) long-term borrowings	5392.199	4570.090
(b) Deferred tax liabilities (Net)	0.000	20.365
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	143.668	82.102
Total Non-current Liabilities (3)	5535.867	4672.557
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	1444.459	1198.421
(c) Other current liabilities	1377.965	781.572
(d) Short-term provisions	17.132	8.160
Total Current Liabilities (4)	2839.556	1988.153
TOTAL	14711.355	11884.555
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	6376.875	4680.452
(ii) Intangible Assets	26.908	16.499
(iii) Capital work-in-progress	816.135	1594.695
(iv) Intangible assets under development	0.000	0.000
(v) Goodwill	1190.113	1190.113
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	11.026	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	298.686	213.472
Total Non-Current Assets	8719.743	7695.231
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	3809.735	2128.742
(c) Trade receivables	380.780	749.871
(d) Cash and cash equivalents	624.781	449.491
(e) Short-term loans and advances	2.521	0.977
(f) Other current assets	1173.795	860.243
Total Current Assets	5991.612	4189.324
TOTAL	14711.355	11884.555

PROFIT & LOSS ACCOUNT– (CONSOLIDATED)

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Income	9882.454	7802.841
	Other Income	264.433	59.295
	TOTAL	10146.887	7862.136
Less	EXPENSES
	Cost of Materials Consumed	4709.815	3398.319
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(265.585)	31.935
	Employees benefits expense	1406.504	1031.537
	Other expenses	1878.623	1509.225
	TOTAL	7729.357	5971.016
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2417.530	1891.120
Less	FINANCIAL EXPENSES	236.545	342.976
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	2180.985	1548.144
Less	DEPRECIATION/ AMORTISATION	809.456	629.430
	PROFIT/ (LOSS) BEFORE TAX	1371.529	918.714
Less	TAX	260.624	270.222
	PROFIT/ (LOSS) AFTER TAX	1110.905	648.492
	Earnings / (Loss) Per Share (INR)	--	--

SMALL CAUSE COURT, AHMEDABAD

Case Details

Case Type: SMST R

Filing Number: 4698/2016Filing Date: 15-12-2016

Registration Number: 4697/2016Registration Date: 15-12-2016

CNR Number: GJAH03-006117-2016

Case Status

First Hearing Date: 16th January 2017

Next Hearing Date: 16th January 2017

Stage of Case: SUMMONS OF SUIT

Court Number and Judge: 1-CHIEF JUDGE, SMALL CAUSE COURT

Petitioner and Advocate

1) Matrix Cellular (International) Services Pvt. Ltd.

 Address - 7, Khullar Farms, 140, New Manglapuri, Mandi Road, Mehrauli, New Delhi-110030, Office at B-804, 8th Floor, Wall Streat-2, Nr. Gujarat College, Ellisbridge, Ahmedabad – 380006

Advocate- M A LAKHIA

Respondent and Advocate

1) Amneal Pharmaceuticals Company (I) Pvt. Ltd.

Address - 882/1-871, Sarkhej - Bavla Highway, Nr. Hotel Kankaavati, Vill - Rajoda, Tal. Bavla, Dist. Ahemdabad – 382220

Acts

Under Act(s)	Under Section(s)
CODE OF CIVIL PROCEDURE, 1908	37

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
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	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	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from 9, Indus Park Society Opposite Sundervan, Near Spipa, Ahmedabad – 380015, Gujarat, India to the present address w.e.f. 01.07.2009.

CORPORATE INFORMATION

Amneal Pharmaceuticals Private Limited, formerly known as Amneal Pharmaceuticals (India) Private Limited(‘the Company’) is a private company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. The registered office of the company is located at 882/1-871, Vil. Rajoda, Near Kankavati, Bavla- 382220

The Company is primarily engaged in manufacture of pharmaceutical products and undertaking of scrientifc research activities, mainly for exports to its ultimate parent company, Amneal Pharmaceuticals LLC, USA and affiliates.

UNSECURED LOAN

Unsecured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Rupee term loans from banks	4973.449	4175.547
Total	4973.449	4175.547

INDEX OF CHARGES:

Charges Registered
SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	C17623943	10098200	BANK OF BARODA	27/03/2008	18/06/2013	21/08/2014	450800000.0	S.G. HIGHWAY BRANCH, SHAPATH IINR. G N F C INFO TOWER, S.G. HIGHWAYAHMEDABADGJ380015IN
2	C17628504	10188007	BANK OF BARODA	30/10/2009	-	21/08/2014	1257000.0	S G HIGHWAY BRANCH, SHAPATH-III, GROUND FLOOR,NR. GNFC INFO TOWER, BODAKDEV,AHMEDABADGJ380054IN
3	C17640723	10396254	BANK OF BARODA	11/12/2012	-	21/08/2014	798923.0	S G HIGHWAY BRANCHSHAPATH III, NEAR G N F C INFO TOWER, BODAKDEVAHMEDABADGJ380054IN
4	C17631318	10335600	BANK OF BARODA	30/01/2012	-	21/08/2014	1433700.0	S G HIGHWAY BRANCH, SHAPATH-III, GROUND FLOOR,NR. GNFC INFO TOWER, BODAKDEV,AHMEDABADGJ380054IN
5	C17634346	10345560	BANK OF BARODA	02/03/2012	-	21/08/2014	1523430.0	S. G. HIGHWAY BRANCH, SHAPATH IIINEAR G N F C INFO TOWER, BODAKDEV, S. G. HIGHWAYAHMEDABADGJ380054IN
6	C17728734	10363286	BANK OF BARODA	18/06/2012	-	21/08/2014	834600.0	S.G HIGHWAY, SHAPATH IIINEAR G N F C INFO TOWER, BODAKDEV, S. G. HIGHWAYAHMEDABADGJ380054IN
7	C05179817	10275616	BANK OF BARODA	31/01/2011	-	28/05/2014	2093000.0	S G HIGHWAY BRANCHS G HIGHWAYAHMEDABADGJ380015IN
8	C04463568	10300873	BANK OF BARODA	06/07/2011	-	05/05/2014	660000.0	S G HIGHWAY BRANCH, SHAPATH-III, GROUND FLOOR,NR. GNFC INFO TOWER, BODAKDEV,AHMEDABADGJ380054IN
9	B75690958	10209804	BANK OF BARODA	16/02/2010	-	30/04/2013	1218000.0	BANK OF BARODA TOWERS, 3RD FLOOR, OPP. LAW GARDENELLISBRIDGE,AHMEDABADGJ380006IN
10	B75689737	10313901	BANK OF BARODA	31/08/2010	-	30/04/2013	2300000.0	S G HIGHWAY BRANCH, SHAPATH-III, GROUND FLOOR,NR. GNFC INFO TOWER, BODAKDEV,AHMEDABADGJ380054IN

FIXED ASSETS

• Motor vehicles
• Office equipment
• Computer equipment
• Land
• Buildings
• Factory equipment
• Furniture and fixtures
• Vehicles

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 :	NYT
Report Prepared by :	JYO

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--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.