MIRA INFORM REPORT

Report No. :	303966
Report Date :	21.01.2015

IDENTIFICATION DETAILS

Name :	MAHESHWARA INTERNATIONAL PRIVATE LIMITED
Registered Office :	Flat No 007, Yugmsneh Apartment, 202, Somwar Peth, Daruwala Pool, Pune – 411011, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.12.2012
Com. Reg. No.:	11-145761
Capital Investment / Paid-up Capital :	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U74900PN2012PTC145761
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 Importer of Pulses.
No. of Employees :	3 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Moderate
Payment Behavior :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile and low reserves of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. 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

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Mahesh Bora
Designation :	Director
Contact No.:	91-9371121414
Date :	19.01.2015

LOCATIONS

Registered Office/Warehouse :	Flat No. 007, Yugmsneh Apartment, 202, Somwar Peth, Daruwala Pool, Pune – 411011, Maharashtra, India
Tel. No.:	91-20-24240984
Mobile No.:	91-9371121414 (Mr. Mahesh Bora)
Fax No.:	Not Available
E-Mail :	maheshbora2502@gmail.com
Area :	300 Sq. Ft.
Location :	Owned

DIRECTORS

As on: 30.09.2014

Name :	Mr. Mahesh Vinodlal Bora
Designation :	Executive Director
Address :	Flat No-7, Yugmasneh Apartment, B-Building 202, Somwar Peth, Daruwala, Phule, Pune.411011, Maharashtra, India
Date of Birth/Age :	23.02.1978
Date of Appointment :	18.12.2012
DIN No.:	06436203
Name :	Mr. Santosh Babaji More
Designation :	Executive Director
Address :	Flat No 12o0,, Somwar Peth, Pune- 411011, Maharashtra, India
Date of Birth/Age :	09.03.1971
Date of Appointment :	18.12.2012
DIN No.:	06436414

KEY EXECUTIVES

Name :	Mr. Vishwas Bokil
Designation :	Company Secretary
Address :	Uma Building, Flat No. 502, Mahalaxminagar, Bibwewadi, Near VIT/Laketown, Pune – 411037, Maharashtra, India
Email:	bokilvishwas@gmail.com
Tel No.:	91-9822254210

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2014

Names of Shareholders	No. of Shares	Percentage
Bora Vinodlal Mahesh	50000	50.00
More Babaji Santosh	50000	50.00
Total	100000	100.00

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Pulses.
Products :	Pulses
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	USA Canada Singapore
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	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 :

End Users

Reference :	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 :

3 (Approximately)

Bankers :

• Bank of Maharashtra, Lokmangal, 1501, Shivajinagar, Pune Through Overseas Branch - 411005, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Loan Repayble on Demand	0.898	0.000
Total	0.898	0.000

Auditors :
Name :	Morab and Associates Chartered Accountants
Address :	Somnath Smruti, 1644, Sadashiv Peth, Tilak Road, Pune – 411030, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AFDPM3565N
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.000	1.000
(b) Reserves & Surplus	0.733	0.031
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1.733	1.031
(3) Non-Current Liabilities
(a) long-term borrowings	1.968	0.600
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	1.968	0.600
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	21.114	9.867
(c) Other current liabilities	0.060	0.011
(d) Short-term provisions	0.329	0.034
Total Current Liabilities (4)	21.503	9.912
TOTAL	25.204	11.543
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.009	0.011
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.023	0.031
Total Non-Current Assets	0.032	0.042
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	8.244	0.000
(c) Trade receivables	5.823	9.968
(d) Cash and cash equivalents	1.685	0.000
(e) Short-term loans and advances	9.018	1.522
(f) Other current assets	0.402	0.011
Total Current Assets	25.172	11.501
TOTAL	25.204	11.543

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	56.443	28.661
	EXPENDITURE		54.772	28.614
	PROFIT BEFORE TAX		1.017	0.045
Less	TAX		0.315	0.014
	PROFIT AFTER TAX		0.702	0.031
	Earnings Per Share (Rs.)		7.02	0.31

Expected Sales (2014-15): Rs.150.000 Millions

The above information has been parted by Mr. Mahesh Bora (Director).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Return on Total Assets (PBT/Total Assets}	(%)	4.04	0.39
Return on Investment (ROI) (PBT/Networth)		0.59	0.04
Debt Equity Ratio (Total Debt /Networth)		1.14	0.58
Current Ratio (Current Asset/Current Liability)		1.17	1.16

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	1.000	1.000
Reserves & Surplus	0.031	0.733
Net worth	1.031	1.733
long-term borrowings	0.600	1.968
Short term borrowings	0.000	0.000
Total borrowings	0.600	1.968
Debt/Equity ratio	0.582	1.136

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Income	28.661	56.443
		96.933

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Income	28.661	56.443
Profit	0.031	0.702
	0.11%	1.24%

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS: NOT AVAILABLE

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 two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

FINANCIAL RESULTS AND OPERATIONS:

During the year report, the turnover of the company has increased by 94.73% as compared to the previous year, whereas the profit before tax stood at 1.83% as against 0.15% in the previous year.

The company undertook local trading of pulses. Suppliers of good quality of pules resulted into increase in demand. In the year under consideration, the company imported pules and sold in the domestic market.

During the financial year, the company has availed increased credit facilities of Rs. 11.600 Millions from Bank of Maharashtra and scaled up the operations and turnover.

It is heartening to note that, in the first five months of the current year, sales crossed Rs. 100.000 Millions. It is expected that the company would be able to achieve turnover of Rs. 180.000millions in the current year.

UNSECURED LOAN

Particular	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Loan from Related Parties	1.070	0.600
Total	1.070	0.600

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10477071	17/01/2014	15,500,000.00	BANK OF MAHARASHTRA	LOKMANGAL, 1501,, SHIVAJINAGAR, PUNE THROUGH OVER  SEAS BRANCH, MAHARASHTRA - 411005, INDIA	B96141908
2	10441317	17/01/2014 *	11,600,000.00	BANK OF MAHARASHTRA	LOKMANGAL, 1501,, SHIVAJINAGAR, PUNE THROUGH OVER  SEAS BRANCH, MAHARASHTRA - 411005, INDIA	B96192448

* Date of charge modification

FIXED ASSETS:

• Land
• Building
• Computer
• Office Equipment
• Furniture

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.61.85
UK Pound	1	Rs.93.26
Euro	1	Rs.71.57

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KRN
Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		30

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.