MIRA INFORM REPORT

Report Date :

01.01.2015

IDENTIFICATION DETAILS

Name :	KANNITH SUPPLIERS
Registered Office :	43/94, S-6, 2^nd Floor, Sembudoss Road, Broadway, Chennai – 600001, Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	02.04.2007
Com. Reg. No.:	33120061087
Capital Investment / Paid-up Capital :	Rs. 36.604 Millions
IEC No. :	040800589
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	ASMPS2603P
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader of TMT MS, Angle MS, Channel HR, Plat MS, Plate MS, Beam MS Round, MS Pipe, MS Tube, MS Rod, etc.
No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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 an established proprietary concern having moderate track record. Trade relations are fair. Business is active. Payment terms are reported to be usually 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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. Vicky Agarwal
Designation :	General Manager
Contact No.:	91-9340038484
Date :	27.12.2014

LOCATIONS

Registered Office :	43/94, S-6, 2^nd Floor, Sembudoss Road, Broadway, Chennai – 600001, Tamilnadu, India
Tel. No.:	91-44-25218484
Mobile No.:	91-9340038484 (Mr. Vicky Agarwal)
Fax No.:	91-44-25219121
E-Mail :	Kannith_corp@yahoo.co.in
Area :	200 Sq ft
Location :	Rented
Factory :	C-45, CMDA Iron and Steel Market Complex, Sathangadu, Manali, Chennai – 600068, Tamilnadu, India
Location :	Owned

SOLE PROPRIETOR/

Name :	Mr. Sandip Agarwal
Designation :	Proprietor
Address :	Lilly 17 and 18, Be foundation No. 1, South Park Raod, Paddikuppam, Annanaagr West, Chennai – 600040, Tamilnadu, India
Date of Birth/Age :	06.11.1973
Qualification :	B Com
Experience :	25 Years

KEY EXECUTIVES

Name :	Mr. Vicky Agarwal
Designation :	General Manager

BUSINESS DETAILS

Line of Business :	Trader of TMT MS, Angle MS, Channel HR, Plat MS, Plate MS, Beam MS Round, MS Pipe, MS Tube, MS Rod, etc.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Credit 30 Days
Purchasing :	Credit 30 Days

GENERAL INFORMATION

Suppliers :

Reference :

R Ram Syndicate, Chennai, Tamilnadu, India

Name of the Person :

Mr. Giraj – General Manager

Contact No.:

91-9884012561

Since How Long Known :

7 Years

Maximum Limit Dealt :

Unlimited

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark:

Mr. Giraj gave me positive response for subject company. Company having very good track record.

Customers :

End Users

Reference :

KAveri Enterprises, Chennai, Tamilnadu, India

Name of the Person :

Not Divulged

Contact No.:

91-9444027427

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
--	--	--

Remark:

Constantly ringing

No. of Employees :

8 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	SME Branch, Chennai, Tamilnadu, India
Person Name (With Designation)	91-9659315887 (Mr. Ganesh Raj)
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	33670038924
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Rs. 30.000 Millions
Account Operation	Not Divulged
Remarks (If any)	Mr. Ganesh Raj denied to provide he is opinion about the subject comapny

Banking Relations :
Auditors :
Name :	Khichand and Company Chartered Accountants
Address:	Chennai, Tamilnadu, India
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

Capital Investment :
Owned :	Rs. 36.604 Millions
Borrowed :	--
Total :	Rs. 36.604 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Share Capital		36.604	33.690	25.854
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		36.604	33.690	25.854
LOAN FUNDS
1] Secured Loans		16.462	18.474	20.008
2] Unsecured Loans		14.340	14.461	1.573
TOTAL BORROWING		30.802	32.935	21.581
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		67.406	66.625	47.435
APPLICATION OF FUNDS
		0.941	1.080	0.876
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress
		0.000	10.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.275	14.332	13.243
	Sundry Debtors	98.092	81.907	105.334
	Cash & Bank Balances	0.054	0.537	2.198
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.093	4.243	2.918
Total Current Assets		100.514	101.019	123.693
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	33.439	44.950	56.293
	Other Current Liabilities	0.610	0.524	20.841
	Provisions	0.000	0.000	0.000
Total Current Liabilities		34.049	45.474	77.134
Net Current Assets		66.465	55.545	46.559
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		67.406	66.625	47.435

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	589.910	534.352	645.833
	Other Income	0.465	0.991	1.360
	TOTAL	590.375	535.343	647.193
Less	EXPENSES
	Cost of goods sold	578.473	521.525	625.735
	Audit fees	0.079	0.067	0.067
	bank Interest	1.869	1.137	0.585
	Discount and Rebates	0.109	0.150	0.292
	Fright Forward	0.454	0.963	0.960
	Interest on unsecured loans	0.987	0.516	0.188
	L C Services Charges	0.203	0.698	1.355
	Salary Bonus	1.292	0.858	1.161
	Staff Welfare	0.093	0.069	0.060
	Telephone Expenses	0.129	0.118	0.130
	Travelling and Conveyance Expenses	0.120	0.311	0.214
	Other expenses	1.698	5.221	12.751
	TOTAL	585.506	531.633	643.498
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	4.869	3.710	3.695
Less/ Add	DEPRECIATION/ AMORTISATION	0.191	0.253	0.200
	NE PROFIT/ (LOSS)	4.678	3.457	3.495

The above information has been parted by Mr. Vicky Agarwal

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

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT/ Sales	(%)	0.79	0.65	0.54
Return on Total Assets (PBT/Total Assets}	(%)	4.61	3.39	2.81
Return on Investment (ROI) (PBT/Networth)		0.13	0.10	0.14
Debt Equity Ratio (Total Debt /Networth)		0.84	0.98	1.83
Current Ratio (Current Asset/Current Liability)		2.95	2.22	1.60

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	25.854	33.690	36.604
Reserves & Surplus	0.000	0.000	0.000
Net worth	25.854	33.690	36.604
Secured Loans	20.008	18.474	0.000
Unsecured Loans	1.573	14.461	0.000
Total borrowings	21.581	32.935	0.000
Debt/Equity ratio	0.835	0.978	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	645.833	534.352	589.910
		(17.262)	10.397

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	645.833	534.352	589.910
Profit	3.495	3.457	4.678
	0.54%	0.65%	0.79%

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 three years	Yes
12]	Profitability for last three 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	Yes
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	Yes
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

TRADE REFERENCE

• Shree Aagarsen Steel Industries Private Limited
• Hinduja Foundries – 91-9840759714

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.63.33
UK Pound	1	Rs.98.58
Euro	1	Rs.77.00

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	RAS
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.