MIRA INFORM REPORT

Report No. :	354883
Report Date :	29.12.2015

IDENTIFICATION DETAILS

Name :	SHRENUJ MAURITIUS PRIVATE LIMITED
Registered Office :	Suite 307/308 St James Court, St Denis Street, P. O. Box, Port Louis
Country :	Mauritius
Financials (as on) :	31.03.2015
Date of Incorporation :	04.04.2005
Com. Reg. No.:	C10055316
Legal Form :	Limited Corporation
Line of Business :	Dealers in Jewelry and Related Products.
No. of Employees :	80 Employees

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Mauritius	A2	A2

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

MAURITIUS - ECONOMIC OVERVIEW

Since independence in 1968, Mauritius has undergone a remarkable economic transformation from a low-income, agriculturally based economy to a diversified, upper middle-income economy with growing industrial, financial, and tourist sectors. Mauritius has achieved steady growth over the last several decades, resulting in more equitable income distribution, increased life expectancy, lowered infant mortality, and a much-improved infrastructure. The economy rests on sugar, tourism, textiles and apparel, and financial services, and is expanding into fish processing, information and communications technology, and hospitality and property development. Sugarcane is grown on about 90% of the cultivated land area and accounts for 15% of export earnings. The government's development strategy centers on creating vertical and horizontal clusters of development in these sectors. Mauritius has attracted more than 32,000 offshore entities, many aimed at commerce in India, South Africa, and China. Investment in the banking sector alone has reached over $1 billion. Mauritius’ textile sector has taken advantage of the Africa Growth and Opportunity Act, with Mauritian exports to the US growing by 400% from 2001-2012. Mauritius' sound economic policies and prudent banking practices helped to mitigate negative effects of the global financial crisis in 2008-09. GDP grew in the 3-4% per year range in 2010-14, and the country continues to expand its trade and investment outreach around the globe.

Source : CIA

SUBJECT'S NAME
Registered Name:	SHRENUJ MAURITIUS PRIVATE LIMITED
Requested Name:	SHRENUJ MAURITIUS PRIVATE LIMITED
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	Suite 307/308 St James Court, St Denis Street,
Postal Address:	P. o. Box
	Port Louis
Country:	Mauritius
Phone:	230-2106788
Fax:	230-2106788
Email:	None
Website:	None
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		04-April-2005
Reg. Number:		C10055316
Nominal Capital		MUR. 383,770,820
Subscribed Capital		MUR. 383,770,820
Subscribed Capital is Subscribed in the following form:
		Position	Shares
Mr. Kirtilal Shreyas Doshi		MD
Mr. Vishal Shreyas Doshi		Director
Mr. Kim Fung Kong Yune		Director
Mr. Shailesh Vasani		Director
Shrenuj & Company Limited		Holding Co.	383,770,820
RELATED COMPANIES
Shrenuj Company Ltd		Parent company.
None		Subsidiary company.
Listed Below		Affiliated companies.
Messrs Shrenuj & Company Limited		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Registered to operate as dealers in jewelry and related products
Imports:		Asia
Exports:		Europe, Middle East
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		firms and organizations
Employees:		80 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Mauritius
Location:		Leased premises, 10,000 square feet,
AUDITORS AND INSURANCE
Auditors:		FIRST ISLAND & ASSOCIATES
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Mauritius Rupee (MUR.)
Approx. Ex. Rate:		1 US Dollar = 36.09 Mauritius Rupee
Fiscal Year End:		December 31, 2014
Inflation:		According to information given by independent sources, the inflation at December 31st, 2014 was of 13%.
Financial Information Submitted below
BANK
Bank Name:		Barclays Bank
Branch:		Mauritius
Comments:		None
TRADE REFERENCES
Experiences:		Good
NOTARIAL BONDS
None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources other than the subject company itself and confirmed the above subject. The telephone number provided i.e. +912267897734 belongs to the holding Company.

AFFILIATED COMPANIES

ALIJA INTERNATIONAL PTY LTD.

ASTRAL HOLDINGS INC.

ASTRAL JEWELS LLC

ASTRAL USA, INC.

BERNIES INTERNATIONAL LLC

DAILY JEWELLERY LTD.

GLOBAL MARINE DIAMOND COMPANY

INTERGEMS H. K. LTD.

ITHEMBA DIAMONDS (PTY) LTD.

LUME GROUP AG

SHRENUJ AUSTRALIA PTY. LTD.

SHRENUJ BOSTWANA PTY. LTD.

SHRENUJ DMCC

SHRENUJ GMBH

SHRENUJ JAPAN CORPORATION.

SHRENUJ JEWELRY (FAR EAST) LTD.

SHRENUJ LIFESTYLE LTD.

SHRENUJ N V

SHRENUJ OVERSEAS LTD.

SHRENUJ (SHANGHAI) DIAMONDS PVT. LTD.

SHRENUJ SOUTH AFRICA PTY LTD.

SHRENUJ USA LLC

SIMON GOLUB & SONS INC

UXOLO DIAMOND CUTTING WORKS (PTY) LTD

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.14
UK Pound	1	Rs.98.69
Euro	1	Rs.72.55
MUR	1	Rs.1.85

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

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.