MIRA INFORM REPORT

Report Date :

24.08.2011

IDENTIFICATION DETAILS

Name :	SHRENUJ BOTSWANA (PTY) LTD.
Registered Office :	Private Bag 149/238, Postnet Kgaleview, Gaborone, Botswana
Country :	Botswana
Date of Incorporation :	15.03.2009
Legal Form :	Limited Liability Company, Limited by shares
Line of Business :	Diamond cutting and mining industry

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Botswana	b1	b1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME & COMPANY SUMMARY

COMPANY REPORTED:	SHRENUJ BOTSWANA (PTY) LTD.
Principal Address:	Private Bag 149/238, Postnet Kgaleview, Gaborone, Botswana
Telephone:	+267-3953610/6/3610444/1
Fax:	+267-3953613/ 3160461
Email:	None
Internet:	None
Established:	15/03/2009
Registration:	Gaborone, Botswana
Legal Form:	Limited Liability Company, Limited by shares
Stock Listing:	Not Listed
Workforce:	2010
	30
Office & Factories
Head offices	Plot 20653, Savute Rd., Block 3 Industrial Gaborone, Botswana
Branches	None

DIRECTORS/MANAGEMENT

Management/ Directors

President/ CEO (1)
Name	Shri. Shreyas K. Doshi
Active in daily business:	Active
Current Title:	Chairman
Country of residence	Botswana
Remarks	Top Decision Maker

Director (2)
Name	Shri. Vishal S Doshi
Active in daily business:	Active
Current Title:	Director
Country of residence	Botswana

Þ Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.

NEGATIVE INFORMATION

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

Company Profile:
Nominal Capital	BWP. 1,000
Paid in Capital	BWP. 1,000
Subscribed Capital	BWP. 1,000
Shareholders
Name	Position	Amount	Ratio
Shri. Shreyas K. Doshi	Chairman
Shri. Vishal S Doshi	Director
Shri. Nihar Parikh	Director
Dr. S A Dave	Director
Shri. Suresh N. Talwar.	Director
Shri. Keki M Mistry	Director
Shri. Badrinarayan R. Barwale	Director
Shri. S. S. Thakur	Director
Mr. Martin Pearson	Director
Shrenuj Group	Holding Co.
Total			100.00%

PAYMENT INFORMATION

	Terms of payment
Buying terms	30% in cash, 70% on credit
Selling terms	80% in cash, 20% on credit
Suppliers	Various Companies
Customers	firms and organizations
Recent Sales	BWP. 52,000,000 (2010 Estimated)
Exports	None
Export Ratio	0.0%
Import Ratio	20.0%
Domestic Market Share	10.0%

GROUP STRUCTURE & AFFILIATED COMPANIES

Affiliated Companies

Various in the Group

FINANCIAL INFORMATION

Na

FOREIGN EXCHANGE RATES

Exchange Rate

US$ 1 = BWP. 6.76

ADDITIONAL INFORMATION

Business Activities	Diamond cutting and mining industry
	Terms of payment
Buying terms	30% in cash, 70% on credit
Selling terms	80% in cash, 20% on credit
Suppliers	Various Companies
Customers	firms and organizations
Recent Sales	BWP. 52,000,000 (2010 Estimated)
Exports	None
Export Ratio	0.0%
Import Ratio	20.0%
Domestic Market Share	10.0%

Business Premises	5000 Sq.ft
Type of occupation	Leased
Location	The subject is located close to a major road network
Premises used as	Offices

Banking relationship
Main Banks	BARCLAYS BANK

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.69
UK Pound	1	Rs.75.29
Euro	1	Rs.65.77

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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