MIRA INFORM REPORT

Report Date :

28.11.2014

IDENTIFICATION DETAILS

Name :	ASHTAVINAYAK SUPPLIERS PRIVATE LIMITED
Registered Office :	Plot No.51, Sagar Estates, Anand Krushiji Marg, Burudgaon, Ahmednagar – 414001, Maharashtra
Country :	India
Financials (as on) :	30.09.2014
Date of Incorporation :	23.10.2012
Com. Reg. No.:	11-145158
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U52399PN2012PTC145158
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Electronic Components.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new company having moderate track record. Management of the company has failed to file its financial for the year 2013 with the government department. Mr. B.S. Khandagale, Director had provided us with all information and he also confirmed that the company has started its commercial operation from April 2013. Profitability of the company seems to be low during 2014. Trade relations are fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

N E W S

Verdict Implications: Apex court order may alter coal import dynamics. Traders go slowly on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn Business Empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M a M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Khandagale
Designation :	Director
Contact No.:	91-9326214469
Date :	26.11.2014

LOCATIONS

Registered Office :	Plot No.51, Sagar Estates, Anand Krushiji Marg, Burudgaon, Ahmednagar – 414001, Maharashtra, India
Tel. No.:	91-241-2030883
Mobile No.:	91-9326214469 (Mr. Khandagale)
Fax No.:	91-241-2030883
E-Mail :	sudhirdk25@gmail.com bskhandagale@rediffmail.com
Area :	10000 Sq. Ft
Location :	Rented

DIRECTORS

As on 10.10.2012

Name :

Mr. Sudhir Dinkar Kulkarni

Designation :

Director

Address :

House No. 12 - B, Ganraj Row Housing, Bholegaon MIDC, Ahmednagar - 414001, Maharashtra, India

Date of Birth/Age :

26.04.1976

Date of Appointment :

23.10.2012

DIN No.:

00307255

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U99999MH1982PTC028296	HOLLY-HOCK INVESTMENTS PRIVATE LIMITED	Director	11/03/2001	11/03/2001	--	Active	NO
2	U70109MH1995PTC187870	LORUS PROPERTIESANDFINVEST PRIVATE LIMITED	Director	03/11/2001	03/11/2001	--	Active	NO
3	U00082MH1994PTC187986	ZARUS PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	03/11/2001	03/11/2001	--	Active	NO
4	U70200MH1995PTC167818	ACHATE PROPERTIESANDFINVEST PRIVATE LIMITED	Director	03/11/2001	03/11/2001	--	Amalgamated	NO
5	U29301PN2002PTC017128	SUYOG ACCESSORIES AND HOME APPLIANCES (INDIA) PRIVATE LIMITED	Director	05/07/2002	05/07/2002	--	Active	NO
6	U32109MH1995PLC095343	INDIA OA SYSTEMS LIMITED	Director	29/04/2004	29/04/2004	--	Strike off	NO
7	U29305PN2000PTC015373	SHRI SIDDHI VINAYAK ELECTRONIC COMPONENTS MFG AND TRADING CO PRIVATE LIMITED	Director	20/05/2004	20/05/2004	--	Active	NO
8	U52399PN2012PTC145158	ASHTAVINAYAK SUPPLIERS PRIVATE LIMITED	Director	23/10/2012	23/10/2012	--	Active	NO

Name :

Mr. Bapusaheb Sakharam Khandagale

Designation :

Director

Address :

Shrifal Niwas, Channekar Tailor Bagde Mala, Balikaashram Road, Ahmednagar - 414001, Maharashtra, India

Date of Birth/Age :

01.06.1964

Date of Appointment :

23.10.2012

DIN No.:

01173430

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31900MH2002PTC136577	BAPUSA ELECTRONICS PRIVATE LIMITED	Director	22/07/2002	22/07/2002	--	Under Process of Striking off	NO
2	U32201PN2000PTC015372	SHRI BALLALESHWAR MANUFACTURING COMPANY PRIVATE LIMITED	Director	30/04/2003	30/04/2003	--	Active	NO
3	U74999PN2000PTC015409	SHRI SAI INDUSTRIAL SUPPLIERS PRIVATE LIMITED	Director	20/05/2004	20/05/2004	--	Active	NO
4	U52399PN2012PTC145158	ASHTAVINAYAK SUPPLIERS PRIVATE LIMITED	Director	23/10/2012	23/10/2012	--	Active	NO

MAJOR SHAREHOLDERS

As on 10.10.2012

Names of Shareholders	No. of Shares	% of Holding
Sudhir Dinkar Kulkarni	5000	50.00
Bapusaheb Sakharam Khandagale	5000	50.00
Total	10000	100.00

BUSINESS DETAILS

Line of Business :	Trader of Electronic Components.
Products :	--
Brand Names :	--
Agencies Held :	--
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash
Purchasing :	Cash

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Videocon Industries Limited

Customers :

Reference :	Tekcare India Private Limited
Name of the Person :	Mr. Rajhans (Accounts Head)
Contact No.:	91-94223157177
Since How Long Known :	1 and Half Years
Experience :	It’s a good company, they are very much satisfied by them.
Maximum Limit Dealt :	Rs.55.00 Millions

No. of Employees :

20 (Approximately)

Bankers :

ICICI Bank Limited, Panchasheel Park, New Delhi, India

Facilities :

--

Banking Relations :	--
Auditors :
Name :	C K Patil and Company Chartered Accountants
Address :	Mumbai, Maharashtra, India
Memberships :	--
Collaborators :	--
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		30.09.2014	30.09.2013
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		1.513	0.612
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.613	0.712
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		1.000	1.000
TOTAL BORROWING		1.000	1.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		2.613	1.712
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.284	0.293
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.478	4.269
	Sundry Debtors	39.193	14.791
	Cash & Bank Balances	0.479	0.196
	Other Current Assets	0.000	0.000
	Loans & Advances	6.112	9.824
Total Current Assets		52.262	29.080
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities
	Provisions
Total Current Liabilities		49.933	27.661
Net Current Assets		2.329	1.419
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		2.613	1.712

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.09.2014	30.09.2013
	SALES
		Income	469.763	186.971
		Other Income	0.000	0.000
		TOTAL	469.763	186.971
	EXPENSES		468.462	186.084
	PROFIT/(LOSS) BEFORE TAX		1.301	0.887
Less	TAX		0.400	0.275
	PROFIT/(LOSS) AFTER TAX		0.901	0.612
	Earnings / (Loss) Per Share (Rs.)

KEY RATIOS

PARTICULARS		30.09.2014	30.09.2013
Net Profit Margin (PAT/Sales)	(%)	0.19	0.33
Return on Total Assets (PBT/Total Assets}	(%)	2.48	3.02
Return on Investment (ROI) (PBT/Networth)		0.81	1.25
Debt Equity Ratio (Total Debt /Networth)		0.62	1.40
Current Ratio (Current Asset/Current Liability)		1.05	1.05

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	30.09.2013	30.09.2014
	Rs. In Millions	Rs. In Millions
Share Capital	0.100	0.100
Reserves & Surplus	0.612	1.513
	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	0.712	1.613
Long Term borrowings	0.000	0.000
Short Term borrowings	1.000	1.000
Total borrowings	1.000	1.000
Debt/Equity ratio	1.404	0.620

YEAR-ON-YEAR GROWTH

Year on Year Growth	30.09.2013	30.09.2014
	Rs. In Millions	Rs. In Millions
Sales	186.971	469.763
		151.249

NET PROFIT MARGIN

Net Profit Margin	30.09.2013	30.09.2014
	Rs. In Millions	Rs. In Millions
Sales	186.971	469.763
Profit	0.612	0.901
	0.33%	0.19%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NO CHARGES EXIST FOR COMPANY

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 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 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	Indian Rupees
US Dollar	1	Rs.61.87
UK Pound	1	Rs.97.69
Euro	1	Rs.77.37

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	RAS
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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%)

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

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.