MIRA INFORM REPORT

Report No. :	354509
Report Date :	11.12.2015

IDENTIFICATION DETAILS

Name :	PERFECT COMPUTER SOLUTIONS PRIVATE LIMITED
Registered Office :	Office No. 39, Santosh Heights, Gultekdi Road, Pune – 411037, Maharashtra
Tel. No.:	91-20-26455705
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.11.1999
Com. Reg. No.:	11-014160
Capital Investment / Paid-up Capital :	Rs. 0.990 Million
CIN No.: [Company Identification No.]	U72200PN1999PTC014160
IEC No.:	Not Divulged
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 and Distributor of Computer Peripherals. (Confirmed by Management)
No. of Employees :	12 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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 an established company incorporated in the year 1999. It is having moderate track. As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2015 but documents related to same for the financial year ending 2015 is not available from any other sources. The rating takes into consideration moderate financial risk profile of the company marked by highly leveraged capital structure in FY14. However, the company has reported decent increase in its sales turnover in the year under consideration along with thin profit margin. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. In view of high external borrowings, 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.

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 (GENERAL DETAILS)

Name :	Ms. Maria
Designation :	Accounts Department
Contact No.:	91-20-26455705
Date :	10.12.2015

LOCATIONS

Registered Office/ Warehouse :	Office No. 39, Santosh Heights, Gultekdi Road, Pune – 411037, Maharashtra, India
Tel. No.:	91-20-26455705
Mobile No.:	91-9822031260 (Ms. Maria)
Fax No.:	91-20-26455703
E-Mail :	mgramo@gmail.com puneperfect@gmail.com csrahulkandharkar@gmail.com
Location :	Owned
Locality :	Commercial

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Rajkumar Thawerdas Mandan
Designation :	Director
Address :	104, Kadambari Society, Fatimanagar, Pune-411013, Maharashtra, India
Date of Birth/Age :	17.07.1968
Date of Appointment :	15.11.1999
DIN No.:	00733314
Name :	Mr. Rajani Rajkumar Mandan
Designation :	Director
Address :	104, Kadambari Society, Fatimanagar, Pune-411013, Maharashtra, India
Date of Birth/Age :	30.04.1968
Date of Appointment :	15/11/1999
DIN No.:	00733390

KEY EXECUTIVES

Name :	Ms. Maria
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Rajkumar Thawerdas Mandan	98000
Rajani Rajkumar Mandan	1000
Total	99000

AS ON 31.03.2015

Names of Allottees	No. of Shares
Rajkumar Thawerdas Mandan	594929
Rajani Rajkumar Mandan	6071
Total	601000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Distributor of Computer Peripherals. (Confirmed by Management)
Brand Names :	--
Agencies Held :	--
Exports :
Products :	--
Countries :	--
Imports :
Products :	--
Countries :	--
Terms :
Selling :	Cash, Cheque and Credit (30 days and 60 days)
Purchasing :	Cash, Cheque and Credit (30 days and 60 days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
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 and End Users

Reference:	Not Divulged
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

No. of Employees :

12 (Approximately)

Bankers :

Bank Name:	Bank of Maharashtra
Branch:	Vardhaman Building, 321 A/3, Mahatma Phule Peth, Shankar Seth Road, Pune - 411042, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	91-20-24474091 (Ringing)
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):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Rupee Co-Operative Bank

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Loan From Barclays Finance - Current Liability	0.000	0.292
Cash Credit with Bank of Maharashtra (Secured against hypothecation of stock and book debts)	4.836	12.679
Loan from Standard Chartered Bank	5.777	0.000
Total	10.613	12.971

Banking Relations :	--
Auditors :
Name :	Gramopadhye and Associates Chartered Accountants
Address :	9, Matru- Krupa Apartments, 2/14, Erandwane, Off Karve Road, Palande Courier Lane, Pune-411004, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	ABMPG3586A
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs. 10/- each	Rs. 7.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs. 10/- each	Rs. 7.000 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
99,000	Equity Shares	Rs. 10/- each	Rs. 0.990 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.990	0.990	0.990
(b) Reserves & Surplus	3.865	3.444	3.229
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	4.855	4.434	4.219
(3) Non-Current Liabilities
(a) Long-term borrowings	10.529	8.764	7.543
(b) Deferred tax liabilities (Net)	0.084	0.068	0.058
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	10.613	8.832	7.601
(4) Current Liabilities
(a) Short term borrowings	10.613	12.971	4.626
(b) Trade payables	22.888	12.491	16.698
(c) Other current liabilities	1.488	2.106	2.026
(d) Short-term provisions	0.163	0.060	0.111
Total Current Liabilities (4)	35.152	27.628	23.461
TOTAL	50.620	40.894	35.281
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.579	0.344	0.244
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.059	0.059	0.059
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.529	0.501	0.299
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1.167	0.904	0.602
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	22.820	17.478	15.005
(c) Trade receivables	22.119	16.262	16.214
(d) Cash and cash equivalents	3.620	6.250	3.335
(e) Short-term loans and advances	0.894	0.000	0.125
(f) Other current assets	0.000	0.000
Total Current Assets	49.453	39.990	34.679
TOTAL	50.620	40.894	35.281

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	212.397	189.080	144.854
Less	EXPENSES
		TOTAL	211.797	188.763	144.443
	PROFIT BEFORE TAX		0.600	0.317	0.411
Less	TAX		0.179	0.070	0.152
	PROFIT AFTER TAX		0.421	0.247	0.259
	Earnings Per Share (Rs.)		4.25	24.95	26.13

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Total Income)	(%)	0.20	0.13	0.18
Return on Total Assets (PBT/Total Assets}	(%)	1.19	0.78	1.17
Return on Investment (ROI) (PBT/Networth)		0.12	0.07	0.10
Debt Equity Ratio (Total Debt/Networth)		4.35	4.90	2.88
Current Ratio (Current Asset/Current Liability)		1.41	1.45	1.48

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.990	0.990	0.990
Reserves & Surplus	3.229	3.444	3.865
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	4.219	4.434	4.855
Long-term borrowings	7.543	8.764	10.529
Short term borrowings	4.626	12.971	10.613
Total borrowings	12.169	21.735	21.142
Debt/Equity ratio	2.884	4.902	4.355

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	144.854	189.080	212.397
		30.531	12.332

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	144.854	189.080	212.397
Profit	0.259	0.247	0.421
	0.18%	0.13%	0.20%

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	No
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	No
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	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10330123	27/03/2015 *	20,000,000.00	BANK OF MAHARASHTRA	VARDHAMAN BUILDING, 321 A/3, MAHATMA PHULE PETH, SHANKAR SETH ROAD, PUNE- 411042, MAHARASHTRA, INDIA	C51067742

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Rajkumar Mandan	10.244	8.222
Rajani Mandan	0.285	0.542
Total	10.529	8.764

FINANCIAL RESULTS AND OPERATIONS :

The turnover is increased by 12.33%. In spite of the fact that due to rising prices and heavy competition in the field we could achieve higher turnover as compared to last year. They have concentrated on changing the brands and items of higher margin. The Directors expect to increase the turnover in the coming year.

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

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. 66.79
UK Pound	1	Rs. 101.37
Euro	1	Rs. 73.46

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	KIN
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.