MIRA INFORM REPORT

Report No. :	344889
Report Date :	03.12.2015

IDENTIFICATION DETAILS

Name :	HIND SALES AND MARKETING
Registered Office :	Late Kishori Singh Yadav Chowk, Ratu Road, Kotnali, Ranchi – 834001, Jharkhand
Mob. No.:	91-9835575036 [Mr. Gaurav Kumar Sah]
Country :	India
Financials (as on) :	31.03.2015
Year of Establishment :	2010
Capital Investment :	Rs. 3.628 Million
IEC No.:	Not Applicable [As claimed by Company management, the Company does not Export and Import]
TIN No.:	20190400375
PAN No.: [Permanent Account No.]	AAFFH9543N
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Distributor of Wires, Fans and various Appliances.
No. of Employees :	6 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 10400
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a partnership concern established in the year 2010. It is a distributor of wires, fans and various appliances. Rating takes into consideration reputed supplier base, adequate sales turnover and comfortable partner’s capital. Operational performance has improved as compared to previous year. However, rating is constrained on account of low profitability margin and small cash accruals. Trade relations are fair. Business is active. Payments are slow but correct. 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.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Saurabh Kumar Sah
Designation :	Partner
Contact No.:	91-9431107773
Date :	03.12.2015

LOCATIONS

Registered Office :	Late Kishori Singh Yadav Chowk, Ratu Road, Kotnali, Ranchi – 834001, Jharkhand, India
Tel. No.:	Not Available
Mobile No.:	91-9835575036 [Mr. Gaurav Kumar Sah] 91-9431107773 [Mr. Saurabh Kumar Sah]
Fax No.:	Not Available
E-Mail :	saurabh_sah@yahoo.co.in saurabh_sab2007@yahoo.com
Area :	2000 Sq. ft.
Location :	Rented
Warehouse :	Located at: · Ranchi, Jharkhand, India

PARTNERS

Name :	Mr. Gaurav Kumar Sah
Designation :	Partner
Address :	Draupadi Bhawan, MP Sinha Compound, Kankee Road, Ranchi, Jharkhand, India
Date of Birth/Age :	34 Years
Qualification :	MBA
Experience :	10 Years
Name :	Mr. Saurabh Kumar Sah
Designation :	Partner
Address :	Draupadi Bhawan, MP Sinha Compound, Kankee Road, Ranchi, Jharkhand, India
Date of Birth/Age :	30 Years
Qualification :	MBA
Experience :	5 Years

BUSINESS DETAILS

Line of Business :	Distributor of Wires, Fans and various Appliances.
Brand Names :	· Usha · Polar · V-Guard · Khaitan
Agencies Held :	--
Exports :	--
Imports :	--
Terms :
Selling :	Credit [60 Days]
Purchasing :	Credit [60 Days]

GENERAL INFORMATION

Suppliers :

Reference:	Usha International Limited
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers, Retailers and End Users

Reference:	Medica Super Specialty Hospital, Ranchi
Name of the Person (Designation):	Not Divulged
Contact Number:	91-651-6606000
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Management non-cooperative

No. of Employees :

6 (Approximately)

Bankers :

Bank Name:	Bank of Baroda
Branch:	Main Road Branch, Ratan Talkies, Kataruka House, 1^st Floor, Ranchi - 834001, Jharkhand, India
Person Name (with Designation):	Not Divulged
Contact Number:	91-651-2205466
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Cash Credit = Rs. 4.000 Million
Account Operation:	Not Divulged
Remarks: Number is continuously Ringing.

Facilities :

SECURED LOANS	31.03.2015 (Rs. In Million)	31.03.2014 (Rs. In Million)
Bank of Baroda [CC]	4.030	0.000
State Bank of India [CC]	0.000	1.814
Total	4.030	1.814

Auditors :
Name :	Kumar Abhishek and Associates Chartered Accountants
Address :	Ranchi, Jharkhand, India
Memberships :	--
Collaborators :	--
Sister Concerns :	· Hind Machineries Mahavir Chowk, Upper Bazaar, Ranchi, Jharkhand, India Activity: Agriculture · S N Enterprises Kankee Road, Ranchi, Jharkhand, India Activity: Electrical

CAPITAL STRUCTURE

AS ON 31.03.2015

Capital Investment :
Owned :	Rs. 3.628 Million
Borrowed :	--
Total :	Rs. 3.628 Million

FINANCIAL DATA

[all figures are in Rupees Million]

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015	31.03.2014
SHAREHOLDERS FUNDS
1] Partners Capital		3.628	3.106
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		3.628	3.106
LOAN FUNDS
1] Secured Loans		4.031	1.814
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		4.031	1.814
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		7.659	4.920
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.177	0.185
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	8.549	5.555
	Sundry Debtors	5.286	4.331
	Cash & Bank Balances	0.115	0.101
	Other Current Assets	0.239	0.053
	Loans & Advances	0.618	0.735
Total Current Assets		14.807	10.775
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.276	5.976
	Other Current Liabilities	0.000	0.039
	Provisions	0.049	0.025
Total Current Liabilities		7.325	6.040
Net Current Assets		7.482	4.735
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		7.659	4.920

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Sales	15.000	14.087	17.900
		Other Income	0.242	0.478	0.358
		TOTAL	15.242	14.565	18.258
Less	EXPENSES
		Cost of Goods sold	13.243	12.796	16.607
		Salaries and Allowances	0.288	0.288	0.300
		Travelling and Conveyance	0.044	0.042	0.088
		Printing and Stationery	0.038	0.035	0.033
		Telephone Expenses	0.033	0.033	0.029
		Shop and Godown Rent	0.192	0.180	0.118
		Shop Expenses	0.114	0.028	0.077
		Interest	0.398	0.222	0.151
		Bank Charges	0.044	0.021	0.008
		Salary to Partners	0.232	0.288	0.288
		Interest to Partners	0.386	0.299	0.234
		Other Expenses	0.114	0.222	0.253
		TOTAL	15.126	14.454	18.186
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.116	0.111	0.072
Less/ Add	DEPRECIATION/ AMORTISATION		0.022	0.024	0.018
	PROFIT BEFORE TAX		0.094	0.087	0.054
Less	PROVISION FOR INCOME TAX		0.029	0.027	0.015
	PROFIT AFTER TAX		0.065	0.060	0.039

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.43	0.43	0.22
Return on Total Assets (PBT/Total Assets}	(%)	0.63	0.55	NA
Return on Investment (ROI) (PBT/Networth)		0.03	0.02	NA
Debt Equity Ratio (Total Liability/Networth)		1.11	0.58	NA
Current Ratio (Current Asset/Current Liability)		2.02	1.78	NA

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Partners Capital	3.106	3.628
Reserves & Surplus	0.000	0.000
Net worth	3.106	3.628
Secured Loans	1.814	4.031
Unsecured Loans	0.000	0.000
Total borrowings	1.814	4.031
Debt/Equity ratio	0.584	1.111

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	17.900	14.087	15.000
		-21.302	6.481

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	17.900	14.087	15.000
Profit	0.039	0.060	0.065
	0.22%	0.43%	0.43%

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	No
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)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	Yes
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
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 three years	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 records 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. 66.62
UK Pound	1	Rs. 100.34
Euro	1	Rs. 70.67

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	AMR
Report Prepared by :	BVA

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	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--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		43

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.