MIRA INFORM REPORT

Report Date :

31.12.2014

IDENTIFICATION DETAILS

Name :	ROADHOUND ELECTRONICS PTY LTD
Registered Office :	14 Pendlebury Road Cardiff New South Wales NSW 2285
Country :	Australia
Financial Data :	30.06.2014
Date of Incorporation :	12.02.1985
Com. Reg. No.:	002892702
Legal Form :	Australian Proprietary Company
Line of Business :	Wholesaler of mobile phones and associated equipment.
No. of Employees :	29

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Australia	A1	A1

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

AUSTRALIA - ECONOMIC OVERVIEW

The Australian economy has experienced continuous growth and features low unemployment, contained inflation, very low public debt, and a strong and stable financial system. By 2012, Australia had experienced more than 20 years of continued economic growth, averaging 3.5% a year. Demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports. The high Australian dollar has hurt the manufacturing sector, while the services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. Australia has benefited from a dramatic surge in its terms of trade in recent years, stemming from rising global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia has bilateral free trade agreements (FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia, Japan, and the Republic of Korea, as well as with its Pacific neighbors and the Gulf Cooperation Council countries, and is also working on the Trans-Pacific Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam

Source : CIA

Company name and address

Verified
Subject name:	ROADHOUND ELECTRONICS PTY LTD
Address:	14 Pendlebury Road			Postal address:		PO Box 460
Town:	Cardiff			Town:		Cardiff
State/province:	New South Wales			State/province:		New South Wales
Zip/postal code:	NSW 2285			Zip/postal code:		NSW 2285
Country:	Australia
Telephone:	+61 (2) 49493000
Fax:	+61 (2) 49493100
Email:	freepickup@roadhound.com.au
Website:	www.roadhound.com.au
Remarks:	The Subject's registered address is: C/- PRICEWATERHOUSECOOPERS Level 6, 26 Honeysuckle Drive Newcastle NSW 2300 Australia
EXECUTIVE SUMMARY
Date registered:	12-02-1985
Legal form:	Australian Proprietary Company
Share capital	20 ordinary shares
Sales turnover:	AUD 162,272,000 (Non-consolidated 12 months, 30-06-2014)
Main activities:	Wholesaler of mobile phones and associated equipment.
Employees:	29
REGISTRY DATA
Key Facts
Date registered:	12-02-1985
Legal form:	Australian Proprietary Company
Registration no:	002892702
Registry auth.	Australian Securities & Investments Commission
Tax number:	ABN: 12002892702
Registry status:	Live/Active
LEGAL FILINGS
Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None
MANAGEMENT & STAFF
Key Managers
Name:	Benjamin Kumar Sharma
Job title:	Managing Director
Name:	Gloria Jean Sharma
Job title:	Director and Company Secretary
Key Advisors
Auditor:	PRICEWATERHOUSECOOPERS Level 6, 26 Honeysuckle Drive Newcastle NSW 2300 Australia
Staff
No of employees	29
BOARD OF DIRECTORS / OTHER APPOINTMENTS
Appointments
Name:	Benjamin Kumar Sharma
Board function:	Director
Date appointed:	26-02-1987
Address:	5 Chardonnay Court Eleebana, NSW 2282 Australia
Biography:	Dob: 30/11/1948 Birth Place: Penang, Malaysia
Name:	Gloria Jean Sharma
Board function:	Director and Company Secretary
Date appointed:	12-02-1985
Address:	5 Chardonnay Court Eleebana, NSW 2282 Australia
Biography:	Dob: 20/08/1952 Birth Place: Kurri Kurri, New South Wales, Australia
SHARE CAPITAL
Composition
Authorised:	AUD 20
Number/type:	20 ordinary shares
Share value:	AUD 1
Issued:	20 ordinary shares
Paid-up:	AUD 20
Shareholders/Owners
How Listed	Full List
Composition
Name:	Benjamin Kumar Sharma
% of shares:	75%
Address:	5 Chardonnay Court Eleebana, NSW 2282 Australia
Name:	Gloria Jean Sharma
% of shares:	25%
Address:	5 Chardonnay Court Eleebana, NSW 2282 Australia
CORPORATE AFFILIATIONS
Comments	None reported.
BANKING & FINANCING
Bankers
Bank name:	AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Address:	Australia
Comments	It is generally not the policy of local banks to provide credit status information to non-bona fide applications, and interested parties would be advised to consult first with the Subject if banker's references are required.
FINANCIAL ACCOUNTS
Description
Required to file:	Yes
Source:	Commercial Registry Filings
Presentation:	Attached to this report / Summarised below
Date of accounts:	30-06-2014
Type of accounts:	Full audited
Currency:	Australian Dollar (AUD)
Exchange rate:	USD 1 = AUD 1.23
SUMMARISED
	30-06-2014		30-06-2013		30-06-2012
CONSOLIDATION:	NON-CONSOLIDATED		NON-CONSOLIDATED		NON-CONSOLIDATED
PERIOD:	12 MONTHS		12 MONTHS		12 MONTHS
Sales turnover:	162,272,000		204,215,000		156,253,000
Profit before tax:	10,879,000		16,148,000		8,969,000
Profit after tax:	7,972,000		11,899,000		6,333,000
Non-current assets:	35,373,000		33,330,000		25,759,000
Current assets:	83,417,000		78,926,000		82,345,000
Inventories:	12,836,000		15,683,000		12,105,000
Total assets:	118,790,000		112,256,000		108,104,000
Current liabilities:	7,506,000		8,895,000		18,615,000
Non-cur. liabilities:	581,000		1,060,000		498,000
Total liabilities:	8,087,000		9,955,000		19,113,000
Shareholders' equity:	110,703,000		102,301,000		88,991,000
OPERATIONS & HISTORY
Activities
Full description:	The Subject is engaged in the wholesale and repairs of mobile phones and associated equipment.
Brands:	SAMSUNG NOKIA
PROPERTY & ASSETS
Premises	The Subject principally operates from premises located at the heading address, consisting of administrative offices.
PAYMENTS
Purchase Terms
Local:	Cash Credits 14-30 days
Imports:	Credits 30 days net
Sales Terms
Local:	Cash Credits 14-30 days
Exports:	Credits 30 days net
Debt Collections / Judgements	No negative information was found.
Payment Experience
Payment behaviour:	As trade references were not supplied, the Subject's payment track record history CANNOT BE ACCURATELY DETERMINED, but payments are believed to be PROMPT.
INVESTIGATIVE NOTES
Sources:		Interviews and material provided by the Subject Other official and local business sources
ATTACHMENTS
Attachments:		Financial statements Financial ratios

ROADHOUND ELECTRONICS PTY LTD
INCOME STATEMENT
Financial year ended	2013	2012
30-06-2013	AUD'000	AUD'000
Revenue	204110	156253
Cost of goods sold	-183592	-143269
Employee benefit expense	-2409	-2169
Depreciation expense	-163	-215
Other expense	-1798	-1631
Profit/(Loss) before tax	16148	8969
Tax (expense)/benefit	-4249	-2636
Profit/(Loss) after tax	11899	6333

ROADHOUND ELECTRONICS PTY LTD
BALANCE SHEET
as at	2013	2012
30-06-2013	AUD'000	AUD'000
Non-Current Assets
Receivables	32584	24940
Property, plant and equipment	746	819
Total Non-Current Assets
Current Assets
Cash and cash equivalents	16516	30337
Trade receivables	25539	29513
Financial assets	21177	10282
Forward rate agreements
Inventories	15683	12105
Tax receivable	-	108
Deferred tax asset
Total Assets	112245	108104
Current liabilities
Trade and other payables	7931	18517
Current tax liabilities	847	-
Provisions	106	98
Total current liabilities	8884	18615
Total current liabilities
Non-Current Liabilities
Deferred tax liabilities	1060	498
Total Liabilities	9944	19113
NET ASSETS
Equity
Reserves	736	-675
Retained Earnings/(Losses)	101565	89666
TOTAL EQUITY	102301	88991

Financial Ratios
	30-06-2014	30-06-2013	30-06-2012	Trend
PROFITABILITY [%]
Gross Margin	N/A	N/A	N/A	N/A
Gross Profit / Sales Turnover * 100
Operating Margin	N/A	N/A	N/A	N/A
Operating Profit / Sales Turnover * 100
Net Profit Margin	4.91%	5.83%	4.05%	19.11%
Profit After Tax / Sales Turnover * 100
Return On Equity (ROE)	7.2%	11.63%	7.12%	0.93%
Profit After Tax / Equity * 100
Return On Assets (ROA)	6.71%	10.6%	5.86%	11.65%
Profit After Tax / Total Assets * 100
Return On Investment (ROI)	9.83%	15.78%	10.08%	-2.08%
Profit Before Tax / Equity * 100
EFFICIENCY [%]
Asset Turnover	136.6%	181.92%	144.54%	-5.02%
Sales Turnover / Total Assets * 100
Inventory Turnover	1264.19%	1302.14%	1290.81%	-2.05%
Sales Turnover / Inventory * 100
LIQUIDITY [%]
Current Ratio (CR)	1111.34%	887.31%	442.36%	139.61%
Current Assets / Current Liabilities * 100
Quick Ratio (QR)	940.33%	710.99%	377.33%	142.63%
(Current Assets – Inventory) / Current Liabilities * 100
DEBT [%]
Debt Ratio	6.81%	8.87%	17.68%	-65.66%
Total Liabilities / Total Assets * 100
Long-Term Debt Ratio	0.52%	1.04%	0.56%	-5.5%
Long-Term Liabilities / Equity * 100

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.75
UK Pound	1	Rs.99.88
Euro	1	Rs.77.32

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIS

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.