MIRA INFORM REPORT

Report No. :	325821
Report Date :	03.06.2015

IDENTIFICATION DETAILS

Name :	RIYA AGENCIES
Registered Office :	512, Opposite Maruthi Complex, Near Ashok Theater, Pimpri, Pune – 411017, Maharashtra
Mobile No.:	91-9822227270 (Mr. Prem Sangtani)
Country :	India
Financials (as on) :	31.03.2015 (Provisional)
Year of establishment :	2005
Capital Investment / Paid-up Capital :	Rs. 11.418 Million (31.03.2015 (Provisional))
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 Welding electrode, Electrode dryer oven, TMT bars, Billets etc.
No. of Employees :	6 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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 was established as proprietary concern in the year 2005 having a satisfactory track record. It is a trader of welding electrode, TMT bars, billets etc. concern only has local trading business and it does not deal in international markets. Mr. Prem Sangtani, Proprietor has provided information to us and claimed that due to they have started trading activities of TMT Bars and billets from 2014-15 concern has achieved decent sales turnover of Rs. 120.000 Million. As per the provisional financial record of 2014-15, concern has shown decent topline growth due to increase in scale of its business operations. Rating also takes into consideration concern’s sound operational performance backed by above average financial base and fair profitability margins of the concern. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of sound business profile, the concern can be considered for business dealings at usual trade terms and condition.

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Prem Sangtani
Designation :	Proprietor
Contact No.:	91-9822227270
Date :	02.06.2015

LOCATIONS

Registered Office :	512, Opposite Maruthi Complex, Near Ashok Theater, Pimpri, Pune – 411017, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9822227270 (Mr. Prem)
Fax No.:	Not Available
E-Mail :	riyaagencies@gamil.com
Godown :	Gala No. 1, Survey No. 48, Pune – Nashik Highway, Pune – 410505, Maharashtra, India
Correspondence Office :	Kamla Cross Road, Shop No. 6, A Wing, Opposite Bapna Auto, Pimpri, Pune – 411018, Maharashtra, India

SOLE PROPRIETOR

Name :	Mr. Prem Sangtani
Designation :	Proprietor

BUSINESS DETAILS

Line of Business :	Trader of Welding electrode, Electrode dryer oven, TMT bars, Billets etc.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Gang Inox Limited, Haryana, India
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 :

Retailers and End Users

Reference :	Shapoorji Pallonji and Company Limited, Pune, Maharashtra, India
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 :

6 (Approximately)

Bankers :

Banker Name	Bank of Maharashtra
Branch Address	Pimpri, Pune, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
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)	Not Divulged

Auditors :
Name :	S V G and Associates Chartered Accountant
Memberships :	--
Collaborators :	--
Sister Concern :	--

CAPITAL STRUCTURE

AS ON 31.03.2015 (PROVISIONAL)

Particulars	Rs. In Million
Capital Accounts
Opening Balance	3.386
Add: Net Profit	8.507
Less: Drawings	0.475
TOTAL	11.418

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Share Capital		11.418	3.387	3.342
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		11.418	3.387	3.342
LOAN FUNDS
1] Secured Loans		8.674	6.570	7.461
2] Unsecured Loans		0.000	0.539	0.410
TOTAL BORROWING		8.674	7.109	7.871
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		20.092	10.496	11.213
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.528	0.618	0.724
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.958	4.976	5.050
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	9.215	1.560	1.070
	Sundry Debtors	34.609	3.529	5.530
	Cash & Bank Balances	0.111	0.287	0.026
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances, Deposit	0.214	0.764	0.833
Total Current Assets		44.149	6.140	7.459
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	29.465	1.179	1.961
	Other Current Liabilities	0.000	0.044	0.044
	Provisions	0.078	0.015	0.015
Total Current Liabilities		29.543	1.238	2.020
Net Current Assets		14.606	4.902	5.439
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		20.092	10.496	11.213

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015 (Provisional)	31.03.2014	31.03.2013
	SALES
	Income	124.528	11.321	13.957
	Other Income	0.720	0.196	0.486
	TOTAL	125.248	11.517	14.443
Less	EXPENSES
	Cost of Goods Sold	113.255	9.859	12.371
	Interest expense	0.843	0.568	0.631
	Labor Expenses	0.000	0.021	0.000
	Advertisement expense	0.010	0.000	0.022
	Professional Fees	0.060	0.006	0.021
	Bank Charges	0.000	0.042	0.026
	Insurance	0.000	0.035	0.000
	Petrol Expenses	0.000	0.000	0.027
	Legal Charges	0.000	0.000	0.003
	Business Promotion expense	0.455	0.000	0.000
	Printing and Stationery	0.000	0.003	0.000
	Accounting Charges	0.180	0.000	0.000
	Discount	0.083	0.000	0.000
	Electricity expense	0.083	0.030	0.029
	Miscellaneous expense	0.053	0.001	0.010
	Octroi Expenses	0.000	0.000	0.008
	Office expense	0.082	0.000	0.012
	Rent Paid	0.096	0.007	0.034
	Repair and Maintenance	0.159	0.015	0.012
	Salary Paid	0.705	0.062	0.060
	Rates and taxes	0.197	0.131	0.135
	Telephone expense	0.052	0.002	0.002
	Transport Charges	0.255	0.003	0.128
	Travelling expense	0.083	0.023	0.008
	Courier Charges	0.000	0.000	0.002
	TOTAL (B)	116.651	10.808	13.541
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	8.597	0.709	0.902
Less/ Add	DEPRECIATION/ AMORTISATION	0.090	0.107	0.125
	NET PROFIT	8.507	0.602	0.777

Expected Sales (2015-2016) : Rs.150.000 Million

The above information has been parted by Mr. Prem Sangtani

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

KEY RATIOS

PARTICULARS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	6.83	5.32	5.57
Return on Total Assets (PBT/Total Assets}	(%)	19.04	8.91	9.50
Return on Investment (ROI) (PBT/Networth)		0.75	0.18	0.23
Debt Equity Ratio (Total Debt /Networth)		0.76	2.10	2.36
Current Ratio (Current Asset/Current Liability)		1.49	4.96	3.69

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	3.342	3.387	11.418
Reserves & Surplus	0.000	0.000	0.000
Net worth	3.342	3.387	11.418
Secured Loans	7.461	6.570	8.674
Unsecured Loans	0.410	0.539	0.000
Total borrowings	7.871	7.109	8.674
Debt/Equity ratio	2.355	2.099	0.760

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	13.957	11.321	124.528
		(18.887)	999.974

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	13.957	11.321	124.528
Profit	0.777	0.602	8.507
	5.57%	5.32%	6.83%

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	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	No
18	Major suppliers	Yes
19	Major customers	Yes
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	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last three 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

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.63.83
UK Pound	1	Rs.97.10
Euro	1	Rs.69.74

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAR
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	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	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		46

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.