MIRA INFORM REPORT

Report No. :	338325
Report Date :	27.08.2015

IDENTIFICATION DETAILS

Name :	PERFECT WAY TRADING CORP
Registered Office :	Block No.1, Parekh Nagar, S. V. Road, Kandivali (West) Mumbai – 400067, Maharashtra
Tel. No.:	91-22-26284499
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	2002
Capital Investment / Paid-up Capital :	Rs.12.127 Million
IEC No.:	Not Divulged
TIN No.:	27140084940
PAN No.: [Permanent Account No.]	Not Divulged
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader of glassware and crockeries ceramic tiles, gift articles, stationery item, household products.
No. of Employees :	12 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a proprietary concern established in the year 1995. It has satisfactory track record. The concern is growing well in its business and achieved a consistent growth in its sales turnover. Trade relations are fair. Business is active. Payment terms are usually correct. In view of long business track record, the concern can be considered for business dealings at usual trade terms and conditions.

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Milan Shah
Designation :	Accounts Manager
Contact No.:	91-9920788085
Date :	26.08.2015

LOCATIONS

Registered Office :	Block No.1, Parekh Nagar, S. V. Road, Kandivali (West) Mumbai – 400067, Maharashtra, India
Tel. No.:	91-22-26284499
Mobile No.:	91-9920788085 (Mr. Milan)
Fax No.:	Not Available
E-Mail :	perfectway.trading@gmail.com
Area :	2200 sq. ft.
Location :	Owned
Locality :	Residential

SOLE PROPRIETOR

Name :	Mr. Anil Babubhai Mehta
Designation :	Proprietor
Date of Birth/Age :	23.09.1961
Qualification :	B. Com
PAN No.:	AACPM9386P

KEY EXECUTIVES

Name :	Mr. Milan Shah
Designation :	Accounts Manager

BUSINESS DETAILS

Line of Business :	Trader of glassware and crockeries ceramic tiles, gift articles, stationery item, household products.
Products :	· Glassware · Crockeries Ceramic Tiles · Gift Articles · Stationery Item · Household Products
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	· Glassware · Crockeries Ceramic Tiles · Gift Articles · Stationery Item · Household Products
Countries :	· USA · UK · China · Turkey · Italy · France · Dubai
Terms :
Selling :	Cheque, Credit (30 Days)
Purchasing :	Cheque, Credit (30 Days)

GENERAL INFORMATION

Suppliers :

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

Customers :

Retailers, End Users

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

No. of Employees :

12 (Approximately)

Bankers :

Banker Name :	HDFC Bank Limited
Branch :	S. V. Road, Kandivali, Mumbai, Maharashtra, India
Person Name (With Designation) :	Not Divulged
Contact Number :	Not Divulged
Name of Account Holder :	Not Divulged
Account Number :	Not Divulged
Account Since (Date/Year of Account Opening) :	Not Divulged
Average Balance Maintained :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Auditors :

Name :

Nikhil B. Vayeda

Chartered Accountant

Collaborators :

Not Divulged

Membership :

Not Divulged

Sister Concern :

Name :	Jaynil Enterprises
Line of Business :	Builders and Developers
Name :	Jaynil Developers
Line of Business :	Builders and Developers

CAPITAL STRUCTURE

AS ON 31.03.2014

Proprietor’s Capital:	Rs. In Million
Anil B Mehta	12.127

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014 (Combined)	31.03.2013
PROPRIETOR’S FUNDS
1] Proprietor’s Capital		12.127	9.543
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		12.127	9.543
LOAN FUNDS
1] Secured Loans		12.436	0.000
2] Unsecured Loans		3.409	3.398
TOTAL BORROWING		15.845	3.398
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		27.972	12.941
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.051	0.337
Capital work-in-progress		0.000	0.000
INVESTMENT		6.621	0.884
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	17.425	4.748
	Sundry Debtors	38.873	47.326
	Cash & Bank Balances	0.637	0.387
	Other Current Assets	0.000	0.000
	Loans & Advances	1.824	2.821
Total Current Assets		58.759	55.282
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	38.077	43.292
	Other Current Liabilities	0.000	0.000
	Provisions	0.382	0.270
Total Current Liabilities		38.459	43.562
Net Current Assets		20.300	11.720
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		27.972	12.941

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	111.347	113.413
		Other Income	NA	2.840
		TOTAL	NA	116.253
Less	EXPENSES
		Cost of goods sold	NA	3.506
		Import purchase	NA	58.731
		Cleaning & forwarding expenses	NA	2.770
		Local purchase	NA	0.488
		Vat on purchase	NA	0.060
		Custom duty	NA	21.584
		Freight charges	NA	1.470
		Octroi duty	NA	1.136
		Sundry purchase	NA	0.880
		M Vat paid / Sales tax paid	NA	10.684
		CST paid	NA	0.010
		Advertisement expenses	NA	0.001
		Audit fees	NA	0.028
		Bad debts w/off	NA	0.001
		Bank charges	NA	0.029
		Bonus paid	NA	0.082
		Car insurance	NA	0.018
		Commission paid	NA	0.325
		Computer repairing expenses	NA	0.051
		Conveyance expenses	NA	0.344
		Donation	NA	0.020
		Electricity charges	NA	0.088
		Exchange difference loss	NA	2.779
		Insurance of goods in transit	NA	0.032
		Interest on M Vat	NA	0.033
		Interest on loans	NA	0.272
		Loan processing fees	NA	0.007
		Motor car expenses	NA	0.217
		Packing expenses	NA	0.132
		Postage & courier	NA	0.038
		Printing & stationery	NA	0.141
		Professional fees	NA	0.028
		Repairs & maintenance	NA	0.025
		Salary	NA	0.984
		Staff welfare expenses	NA	0.054
		Sundry expenses	NA	0.019
		Telephone expenses	NA	0.154
		Transportation charges	NA	0.410
		Travelling expenses	NA	0.171
		TOTAL	NA	107.802
	PROFIT/(LOSS) BEFORE DEPRECIATION		NA	8.451
Less	DEPRECIATION		NA	0.040
	NET PROFIT		NA	8.411

Particulars	31.03.2015
Sales Turnover (Approximately)	235.000

Expected Sales (2015-2016): Rs.250.000 Million

The above information has been parted by Mr. Milan

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin PAT / Sales	(%)	NA	7.42
Return on Total Assets (PBT/Total Assets)	(%)	NA	15.12
Return on Investment (ROI) (PBT/Networth)		NA	0.88
Debt Equity Ratio (Total Debt /Networth)		1.31	0.36
Current Ratio (Current Asset/Current Liability)		1.53	1.27

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Proprietor’s Capital	9.543	12.127
Reserves & Surplus	0.000	0.000
Net worth	9.543	12.127
Secured Loans	0.000	12.436
Unsecured Loans	3.398	3.409
Total borrowings	3.398	15.845
Debt/Equity ratio	0.356	1.307

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	113.413	111.347	235.000
		(1.822)	111.052

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	Yes
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	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last one year	Yes
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

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.66.16
UK Pound	1	Rs.103.88
Euro	1	Rs.75.89

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	TRI
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.