MIRA INFORM REPORT

Report No. :	329985
Report Date :	04.07.2015

IDENTIFICATION DETAILS

Name :	NANDLAL BIHANI AND CO.
Registered Office :	62, Nalini Seth Road, Kolkata – 700 007, West Bengal
Tel. No.:	91-33-22748641/ 22743843
Country :	India
Financials (as on) :	31.03.2015
Year of Establishment :	1996
Capital Investment / Paid-up Capital :	Rs.3.923 million (As on 31.03.2014)
IEC No.:	Not Available
TIN No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader of Iron and Steel.
No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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 proprietorship concern established in the year 1996 and it is having satisfactory track record. Mr. Dinesh Kumar Bihani, proprietor has provided the information to us. Subject is engaged into trading of iron and steel. During year 2014, sales turnover of the concern have reported marginal decline but it has able to achieve profit from its operations. Rating takes into accounts on decent experience of its proprietor and sound track record of its operations. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view aforesaid, 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

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Dinesh Kumar Bihani
Designation :	Proprietor
Contact No.:	91-9830033517
Date :	03.07.2015

LOCATIONS

Registered Office/ Warehouse :	62, Nalini Seth Road, Kolkata – 700 007, West Bengal, India
Tel. No.:	91-33-22748641/ 22743843
Mobile No.:	91-9830033517 (Mr. Dinesh Kumar Bihani)
Fax No.:	Not Available
E-Mail :	nlbsteels@gmail.com
Area :	500 sq. ft.
Location :	Rented
Locality :	Commercial

SOLE PROPRIETOR

Name :	Mr. Dinesh Kumar Bihani
Designation :	Proprietor

BUSINESS DETAILS

Line of Business :	Trader of Iron and Steel.
Products :	Iron Steel
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :

Steel Authority of India Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

Customers :

Wholesalers and End Users

Reference :

Blue Star

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

8 (Approximately)

Bankers :

Banker Name	Union Bank of India
Branch Address	Burrabazar, Kolkata, West Bengal, India
Person Name (With Designation)	Mr. Bose (Branch Manager)
Contact Number	91-33-22744193
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Mr. Bose (Branch Manager) denied to provide any information about subject company.

Facilities :

Secured Loans	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Cash Credit Account with Union Bank of India (Burrabazar Branch)	1.241	16.837
Total	1.241	16.837

Banking Relations :	--
Auditors :
Name :	A.K. Tibrewal and Associates Chartered Accountants
Address :	Kolkata, West Bengal, India
Memberships :	Not Available
Collaborators :	Not Available
Associates/ Subsidiaries :	NLB Steels Private Limited

CAPITAL STRUCTURE

Capital Investment :	31.03.2014 (Rs. in million)
Proprietor’s Capital Account
Balance as per last Account	3.395
Add: Profit for the year	1.004
Add: Introduced during the year	0.000
	4.399
Less: Withdrawals for the year	(0.361)
Income Tax – A.Y. 2013-14	(0.115)
	3.923

FINANCIAL DATA

[all figures are in Rupees Million]

Particulars	31.03.2015
Sales Turnover (Approximately)	240.000

The above information has been parted by Mr. Dinesh Kumar Bihani (Proprietor).

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietor’s Capital		3.923	3.395
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		3.923	3.395
LOAN FUNDS
1] Secured Loans		1.241	16.837
2] Unsecured Loans		16.461	18.253
TOTAL BORROWING		17.702	35.090
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		21.625	38.485
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.719	0.383
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	5.187	12.631
	Sundry Debtors	42.791	37.883
	Cash & Bank Balances	0.284	0.357
	Other Current Assets	0.690	0.692
	Loans, Advances & Deposits	0.431	0.434
Total Current Assets		49.383	51.997
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	28.046	10.408
	Other Current Liabilities & Provisions	0.431	3.487
Total Current Liabilities		28.477	13.895
Net Current Assets		20.906	38.102
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		21.625	38.485

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	232.694	242.196
		Other Income	0.245	0.000
		TOTAL	232.939	242.196
Less	EXPENSES
		Cost of Goods Sold	227.402	235.204
		Carriage Inward	0.163	0.341
		Coil Cutting Charges	0.032	0.112
		Bank Charges	0.083	0.008
		Bank Interest	0.648	0.631
		Bill Discounting Charges	0.354	0.586
		Brokerage	0.204	0.564
		Carriage Outward	0.000	0.117
		Donation and Charity	0.011	0.077
		Electricity Charges	0.048	0.050
		General Expenses	0.048	0.047
		Insurance Charges	0.025	0.016
		Interest Paid	1.626	1.814
		Motor Car Expenses	0.061	0.084
		Rates and Taxes	0.010	0.003
		Legal Expenses	0.002	0.009
		Repair and Maintenance	0.000	0.028
		Printing and Stationery	0.008	0.008
		Profession Tax	0.003	0.003
		Promotional Expenses	0.000	0.014
		Rent	0.029	0.024
		Salaries and Bonus	0.979	1.166
		Tax Audit Fees	0.015	0.015
		Vat Audit Fees	0.006	0.003
		Sundry Balances Written off	0.025	0.141
		Telephone Expenses	0.025	0.019
		Travelling Expenses	0.059	0.057
		TOTAL	231.866	241.141
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.073	1.055
Less/ Add	DEPRECIATION/ AMORTISATION		0.069	0.068
	NET PROFIT/ (LOSS)		1.004	0.987

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.43	0.41
Return on Total Assets (PBT/Total Assets}	(%)	2.00	1.88
Return on Investment (ROI) (PBT/Networth)		0.26	0.29
Debt Equity Ratio (Total Debt /Networth)		4.51	10.34
Current Ratio (Current Asset/Current Liability)		1.73	3.74

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

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	242.196	232.694	240.000 (Approximately)
		(3.923)	3.140

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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	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 two 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

UNSECURED LOANS:

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Bearing Interest	16.461	18.253
Total	16.461	18.253

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.63.40
UK Pound	1	Rs.98.94
Euro	1	Rs.70.33

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAS
Report Prepared by :	SMN

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	5
--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		44

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.