MIRA INFORM REPORT

Report Date :

30.07.2014

IDENTIFICATION DETAILS

Name :	BUDDHA BRAND INDUSTRY LIMITED
Registered Office :	City Business Park, Dundalv Road Castleblaney Co. Monaghan
Country :	Ireland
Financials (as on) :	31.01.2013
Date of Incorporation :	10.11.2006
Com. Reg. No.:	IE429556
Legal Form :	Private limited with share capital
Line of Business :	Retail sale of footwear in specialized stores.
No. of Employees	Not Available

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Ireland	B1	A2

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

IRELAND ECONOMIC OVERVIEW

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property market and construction industry. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the former COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the country’s deeply troubled banking sector. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s fragile banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the new KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland has grown slowly since 2011, but managed to reduce the budget deficit to 7.2% of GDP in 2013. In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt

Source : CIA

Company name and address

Company Name : BUDDHA BRAND INDUSTRY LIMITED

Company No: IE429556

DIRECTORS/MANAGEMENT

Current Directors

Name	LEO MCARDLE	Date of Birth	21/05/1949
Officers Title		Nationality
Present Appointments	5	Function	Director
Appointment Date	10/11/2006
Address	TUDOR LODGE, CASTLEBLANEY, CO. MONAGHAN
Other Actions	View Director Report		View AML Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	BARRY MCARDLE	Date of Birth	12/08/1981
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	10/11/2006
Address	102 COLLEGE STREET, CAVAN
Other Actions	View Director Report		View AML Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	JAMES MCARDLE	Date of Birth	18/06/1977
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	10/11/2006
Address	48 CRESCENT HILL, CASTLEBLANEY, COUNTY MONAGHAN
Other Actions	View Director Report		View AML Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	MARY MCARDLE	Date of Birth	28/10/1948
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	10/11/2006
Address	TUDOR LODGE, DUNDALK ROAD

Previous Director/Company Secretaries

No Previous Director Details

NEGATIVE INFORMATION

CJ

Total Number of Exact CJs -	0	Total Value of Exact CJs -	€0
Total Number of Possible CJs -	0	Total Value of Possible CJs -	€0
Total Number of Satisfied CJs -	0	Total Value of Satisfied CJs -	€0

Possible CJ Details

There are no possible CJ details

Writ Details

Unregistered - Exact CJ Details

No CJs found

Unregistered - Possible CJ Details

No CJs found

Registered - Exact CJ Details

No CJs found

Registered - Possible CJ Details

No CJs found

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MARY MCARDLE	EUR	1	ORDINARY	1	25
BARRY MCARDLE	EUR	1	ORDINARY	1	25
LEO MCARDLE	EUR	1	ORDINARY	1	25
JAMES MCARDLE	EUR	1	ORDINARY	1	25

PAYMENT INFORMATION

Payment Trend

Stable

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10	(%)	31/01/09
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	EUR	(%)	EUR	(%)	EUR	(%)	EUR	(%)	EUR
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	€35,000	-	€35,000	-	€35,000	-	€35,000	-	-
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10	(%)	31/01/09
Tangible Assets	€560,000	-5.9%	€595,000	-5.6%	€630,000	-5.3%	€665,000	-	0
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	€560,000	-5.9%	€595,000	-5.6%	€630,000	-5.3%	€665,000	-	0
Stock	€53,224	-3.8%	€55,332	37.5%	€40,244	-4.2%	€41,988	498.5%	€7,015
Trade Debtors	€333,990	19.4%	€279,651	35.9%	€205,738	98.7%	€103,526	-36.1%	€161,995
Cash	€250,931	289.9%	€64,351	-9%	€70,705	153.2%	€27,929	-63.6%	€76,778
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	€143,793	204.4%	€47,245	-34%	€71,637	82.6%	€39,233	499.5%	€6,544
Total Current Assets	€781,938	75.1%	€446,579	15%	€388,324	82.6%	€212,676	-15.7%	€252,332
Trade Creditors	0	-	0	-	0	-	0	-100%	€9,523
Bank Loans & Overdrafts	€18	-99.8%	€9,159	-57.3%	€21,439	103%	€10,560	-	0
Other Short Term Finance	€285,000	714.3%	€35,000	-50.5%	€70,685	10.2%	€64,171	13.6%	€56,479
Miscellaneous Current Liabilities	€146,484	116.3%	€67,729	-11.9%	€76,920	198%	€25,813	-55%	€57,338
Total Current Liabilities	€431,502	285.7%	€111,888	-33.8%	€169,044	68.1%	€100,544	-18.5%	€123,340
Bank Loans & Overdrafts and LTL	€525,018	-7.8%	€569,159	-7.7%	€616,439	-3.8%	€640,560	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	€525,000	-6.3%	€560,000	-5.9%	€595,000	-5.6%	€630,000	-	0

Capital & Reserves

Date Of Accounts	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10	(%)	31/01/09
Called Up Share Capital	€4	-	€4	-	€4	-	€4	-	€4
P & L Account Reserve	€385,432	4.3%	€369,687	45.4%	€254,276	72.8%	€147,128	14.1%	€128,988
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	€385,436	4.3%	€369,691	45.4%	€254,280	72.8%	€147,132	14.1%	€128,992

Other Financial Items

Date Of Accounts	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10	(%)	31/01/09
Net Worth	€385,436	4.3%	€369,691	45.4%	€254,280	72.8%	€147,132	14.1%	€128,992
Working Capital	€350,436	4.7%	€334,691	52.6%	€219,280	95.6%	€112,132	-13.1%	€128,992
Total Assets	€1,341,938	28.8%	€1,041,579	2.3%	€1,018,324	16%	€877,676	247.8%	€252,332
Total Liabilities	€956,502	42.4%	€671,888	-12.1%	€764,044	4.6%	€730,544	492.3%	€123,340
Net Assets	€385,436	4.3%	€369,691	45.4%	€254,280	72.8%	€147,132	14.1%	€128,992

Miscellaneous

Date Of Accounts	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10	(%)	31/01/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	€910,436	-2.1%	€929,691	9.5%	€849,280	9.3%	€777,132	502.5%	€128,992
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	BANK OF IRELAND
Bank Branch Code	90-32-77

Ratios

Date Of Accounts	31/01/13	31/01/12	31/01/11	31/01/10	31/01/09
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.81	3.99	2.30	2.12	2.05
Sales/Net Working Capital	-	-	-	-	-
Gearing %	136.20	154	242.40	435.40	0
Equity in %	28.70	35.50	25	16.80	51.10
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.68	3.49	2.05	1.69	1.98
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	1.11	0.30	0.66	0.68	0.95
Total Debt Ratio	2.48	1.81	3	4.96	0.95
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Enquiries Trend

There have been 13 enquiries in the last 12 months.

There are an average of 1 reports taken each month.

Status History

No Status History found

Event History

Date	Description
13/03/2014	New Accounts Filed
12/03/2014	Annual Returns
25/12/2012	New Accounts Filed
24/12/2012	Annual Returns
17/01/2012	Annual Returns
17/01/2012	New Accounts Filed
23/11/2010	New Accounts Filed
23/11/2010	New Accounts Filed
22/11/2010	Annual Returns
16/06/2010	New Accounts Filed
12/01/2010	Annual Returns
12/01/2010	Annual Returns
12/01/2010	Annual Returns
12/01/2010	New Accounts Filed
12/01/2010	New Accounts Filed

Previous Company Names

No Previous Names found

Current Company Secretary

Name	BARRY MCARDLE	Date of Birth	12/08/1981
Officers Title		Nationality
Present Appointments	2	Function	Company Secretary
Appointment Date	10/11/2006
Address	102 COLLEGE STREET, CAVAN

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

There is insufficient data to indicate a change in this company's percentage of sales.

Net Worth increased by 4.3% during the latest trading period.

A 28.8% growth in Total Assets occurred during the latest trading period.

There is insufficient data to indicate a change in this company's pre-tax profit.

The company saw an increase in their Cash Balance of 289.9% during the latest trading period.

The company is exempt from audit.

No recent changes in directorship are recorded.

The company is not part of a group.

The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.

The company was established over 7 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.10
UK Pound	1	Rs.102.04
Euro	1	Rs.80.74

INFORMATION DETAILS

Analysis Done by :	SUM
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.