MIRA INFORM REPORT

Report No. :	326346
Report Date :	08.06.2015

IDENTIFICATION DETAILS

Name :	SOLARIUM CERAMIC PRIVATE LIMITED
Registered Office :	Survey no. 504, Opposite Kajaria Sanitary, Pipal Road, At: Jasmatgadh, Morbi – 363630, Gujarat
Tel. No.:	91-9909988833 (Mr. Paresh Godhani)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.06.2013
Com. Reg. No.:	04-075768
Capital Investment / Paid-up Capital :	Rs.47.365 Million
CIN No.: [Company Identification No.]	U26933GJ2013PTC075768
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	RKTS09282A
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Ceramic wall tiles.
No. of Employees :	35 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively new private limited company having moderate track. Mr. Paresh Godhani (Director) provided all general information, further he claimed even though the company has incorporated in June 2013 it has started its operations from June 2014. Further he claimed that sales turnover for FY 2014-2015 is approximately Rs.150.000 Million which has not been verified. As per directors report FY2014, company has not started its activity during the report. However the company has started construction on its factory shed. However, trade relations are fair. Business is active. Payments are reported to be unknown. Being relatively new company, its 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.

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

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. Paresh Godhani
Designation :	Director
Contact No.:	91-9909988833
Date :	06.06.2015

LOCATIONS

Registered Office / Factory :	Survey no. 504, Opposite Kajaria Sanitary, Pipal Road, At: Jasmatgadh, Morbi – 363630, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9909988833 (Mr. Paresh Godhani) / 9909988811 (Mr. Rajesh)
Fax No.:	Not Available
E-Mail :	solariumceramic@gmail.com
Website :	www.solariumceramic.com
Area :	61000 Mtr.
Location :	Owned
Locality :	Industrial

DIRECTORS

As on 20.10.2014

Name :	Mr. Jitendrabhai Raghavjibhai Ghodasara
Designation :	Director
Address :	At - Otala, Tal - Tankara, Rajkot – 363650, Gujarat, India
Date of Birth/Age :	07.05.1979
Date of Appointment :	26.06.2013
DIN No.:	06614345
Name :	Mr. Paresh Karshanbhai Godhani
Designation :	Director
Address :	6, Subhashnagar, Ravapar Road, Morbi, Dist Rajkot – 363641, Gujarat, India
Date of Birth/Age :	16.03.1976
Date of Appointment :	26.06.2013
DIN No.:	06614997
Name :	Mr. Rajesh Karshanbhai Patel
Designation :	Director
Address :	No. 426, 9th A Main, 1st Block HRBR Layout, Kalyan Nagar, Bangalore – 560043, Karnataka, India
Date of Birth/Age :	29.09.1969
Date of Appointment :	01.09.2013
DIN No.:	06702996

MAJOR SHAREHOLDERS

As on 20.10.2014

Names of Shareholders	No. of Shares
Jitendrabhai Raghavjibhai Ghodasara	1047000
Paresh Karshanbhai Godhani	1000000
Jitendra Bachubhai Kasundra	351000
Pravin Khimjibhai Dalsaniya	769000
Jagdish Tarshibhai Savariya	460000
Bhaveshkumar Gordhanbhai Mordiya	278000
Rajeshbhai Karshanbhai Godhani	1045000
Manojbhai Karshanbhai Godhani	900000
Pareshbhai Bachubhai Kasundra	150000
Total	6000000

As on 20.10.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Ceramic wall tiles.
Products :	Ceramic Wall Tiles
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Ceramic Wall Tiles
Countries :	Dubai Oman Qatar
Imports :	Not Available
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Sahyog Minerals

Name of the Person :

Mr. Ashish Patel (Partner)

Contact No.:

91-9879577815

Since How Long Known :

1 Year

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Excellent	Excellent

Maximum Limit Dealt :

Not Divulgec

Remark :

He informed we have very good relation with this company no complaints.

Customers :

End Users

Reference :

Glossy Marketing

Name of the Person :

Mr. Shailesh Patel (Proprietor)

Contact No.:

91-8050088883

Since How Long Known :

1 Year

Experience :

Product Quality	Delivery Behaviour	Overall
Excellent	Excellent	Excellent

Maximum Limit Dealt :

Rs. 10.000 Million (Per Month)

Remark :

He informed that we are very much satisfied by their product.

No. of Employees :

35 (Approximately)

Bankers :

Banker Name	Bank of India
Branch Address	Morbi Branch, Jail Road, Morbi, Gujarat, India
Person Name (With Designation)	Mr. Vasava (Relationship Manager)
Contact Number	91-9879683495
Name of Account Holder	Solarium Ceramic Private Limited
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	07.12.2013
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Cash Credit = Rs.450.000 Million Term Loan = Rs.70.000 Million
Account Operation	Satisfactory
Remarks (If any)	As claimed by Mr. Vasava (Relationship Manager) that subject is having very good track record for banking transaction.

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014
LONG TERM BORROWING
Term Loans	43.263
Total	43.263

Auditors :
Name :	Patel Soni Shah and Company Chartered Accountants
Address :	Krishna Complex, 1st Floor, 5/6 Lati Plot Main Road, Morbi – 363641, Gujarat, India
PAN No.:	AAKFP7672H
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AFTER 20.10.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Million

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
4736500	Equity Shares	Rs.10/- each	Rs.47.365 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	47.365
(b) Reserves & Surplus	0.057
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	47.422
(3) Non-Current Liabilities
(a) long-term borrowings	44.921
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	16.934
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	61.855
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	11.837
(d) Short-term provisions	0.040
Total Current Liabilities (4)	11.877
TOTAL	121.154
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	108.444
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	10.440
(e) Other Non-current assets	0.702
Total Non-Current Assets	119.586
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	1.537
(e) Short-term loans and advances	0.000
(f) Other current assets	0.031
Total Current Assets	1.568
TOTAL	121.154

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014
	SALES
	Income	0.000
	Other Income	0.082
	TOTAL	0.082
Less	EXPENSES
	Cost of Materials Consumed	0.000
	Purchases of Stock-in-Trade	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000
	Employees benefits expense	0.000
	Other expenses	0.000
	TOTAL	0.000
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.082
Less	FINANCIAL EXPENSES	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.082
Less/ Add	DEPRECIATION/ AMORTISATION	0.000
	PROFIT/ (LOSS) BEFORE TAX	0.082
Less	TAX	0.025
	PROFIT/ (LOSS) AFTER TAX	0.057
	IMPORTS
	Capital Goods (P&M)
	(US $ 185031)	11551080US$
	Euro 410070	34750872Euro
	Earnings / (Loss) Per Share (Rs.)	0.08

Particulars	31.03.2015
Sales Turnover (Approximately)	150.000

The above information has been parted by Mr. Paresh Godhani (Director).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014
Current Maturities of Long term debt	NA
Cash generated from operations	NA

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT/Total Income)	(%)	69.51
Return on Total Assets (PBT/Total Assets}	(%)	0.07
Return on Investment (ROI) (PBT/Networth)		0.00
Debt Equity Ratio (Total Debt/Networth)		0.95
Current Ratio (Current Asset/Current Liability)		0.13

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	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
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)	Yes
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	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	----------------------
28	Estimation for coming financial year	No
29	Profitability for last one year	Yes
30	Major shareholders, if available	Yes
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 LOAN

(Rs. In Million)

Particulars	As on 31.03.2014
LONG TERM BORROWING
From Shareholders	1.333
From Others	0.325
Total	1.658

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10467068	17/12/2013 *	130,000,000.00	BANK OF INDIA	MORBI BRANCH, JAIL ROAD, MORBI - 363641, Gujarat, INDIA	B92666866

* Date of charge modification

FIXED ASSETS

• Factory Building
• Local Machinery
• Import Machinery
• Electrical Fitting
• Computer Purchase

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.63.89
UK Pound	1	Rs.97.97
Euro	1	Rs.71.81

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KIL
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.