MIRA INFORM REPORT

Report No. :	327863
Report Date :	18.06.2015

IDENTIFICATION DETAILS

Name :	PROCONNECT SUPPLY CHAIN SOLUTIONS LIMITED
Registered Office :	SPL Guindy House, No. 95, Mount Road, Guindy, Chennai - 600032, Tamilnadu
Tel. No.:	91-44-30287901
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	31.08.2012
Com. Reg. No.:	18-087458
Capital Investment / Paid-up Capital :	Rs. 45.500 Million
CIN No.: [Company Identification No.]	U63030TN2012PLC087458
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CHEP14099B
PAN No.: [Permanent Account No.]	AAGCD7729N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is engaged in providing supply chain management services.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 280000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a relatively new company incorporated in August 2012, having satisfactory track. As per directors report, company has commenced its operation in October 2012. Company has extended its service across various verticals like FMCG, telecom, Pharmaceuticals, Engineering, logistics and Electricals and Electronics. Rating takes into consideration the sound financial risk profile of the company marked by strong net worth and healthy profit margin. Overall financial condition of the company is decent. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings with 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 DENIED BY

Name :	Dr. R. Arunachalam
Designation :	Senior Vice President
Contact No.:	91-9382332213
Date :	17.06.2015

LOCATIONS

Registered Office :	SPL Guindy House, No. 95, Mount Road, Guindy, Chennai - 600032, Tamilnadu, India
Tel. No.:	91-44-30287901
Mobile No.:	91-9382332213 (Dr. R. Arunachalam)
Fax No.:	91-44-22352790
E-Mail :	mmkumar@redington.co.in arunachalam.r@proconnect.co.in
Website :	www.proconnect.co.in

DIRECTORS

As on 17.07.2014

Name :

Mr. Kasturi Rangan Ennapadam Hariharan

Designation :

Director

Address :

Flat GB Srinivas Terrace, Old No.66, New 52, Ii Main Road, Gandhinagar, Adyar, Chennai-600020, Tamilnadu, India

Date of Birth/Age :

11.06.1964

Date of Appointment :

31.08.2012

DIN No.:

01814089

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65929TN1990PLC057809	Nook Micro Distribution Limited	Director	29/09/2007	07/09/2007	-	Active	NO
2	U52390TN2011PLC081001	CURRENTS TECHNOLOGY RETAIL (INDIA) LIMITED	Director	10/06/2011	10/06/2011	-	Active	NO
3	U65993TN1995PLC032050	REDINGTON (INDIA) INVESTMENTS LIMITED	Director	30/09/2011	27/07/2011	29/06/2012	Active	NO
4	U63030TN2012PLC087458	ProConnect Supply Chain Solutions Limited	Director	31/08/2012	31/08/2012	-	Active	NO

Name :

Mr. Muthukumaran Krishnamurthy

Designation :

Director

Address :

No. 3, Deepa Apartments, No.2, Turnbulls Road, Nandanam, Chennai-600035, Tamilnadu, India

Date of Birth/Age :

12.09.1954

Date of Appointment :

31.08.2012

DIN No.:

00432642

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U60231AP1995PLC020693	SYNERGIES-DOORAY AUTOMOTIVE LIMITED	Nominee director	18/09/2003	18/09/2003	23/06/2011	Active	NO
2	L28997KL1963PLC002015	BPL LIMITED	Nominee director	22/06/2005	22/06/2005	12/10/2007	Active	NO
3	U24230TN1980PLC008382	MALLADI DRUGS AND PHARMACEUTICALS LIMITED	Nominee director	30/06/2008	21/11/2007	24/09/2009	Active	NO
4	L17111TZ1962PLC001183	PRECOT MERIDIAN LIMITED	Nominee director	09/03/2009	09/03/2009	29/04/2011	Active	NO
5	L31900TN1985PLC012343	UCAL FUEL SYSTEMS LIMITED	Nominee director	09/09/2009	09/09/2009	30/06/2011	Active	NO
6	L17120MH1992PLC066880	BOMBAY RAYON FASHIONS LIMITED	Nominee director	30/10/2009	30/10/2009	23/06/2011	Active	NO
7	U28920KA1995PLC017793	ALUCAST AUTO PARTS LIMITED	Nominee director	16/11/2009	16/11/2009	23/06/2011	Active	NO
8	U63030TN2012PLC087458	ProConnect Supply Chain Solutions Limited	Director	31/08/2012	31/08/2012	-	Active	NO
9	U65999TN2005PLC069447	EASYACCESS FINANCIAL SERVICES LIMITED	Managing director	03/05/2013	03/05/2013	-	Active	NO

Name :

Stephen Aranha

Designation :

Director

Address :

440 Sector 15A, Noida, 201301, Uttar Pradesh, India

Date of Birth/Age :

23.05.1954

Date of Appointment :

31.08.2012

DIN No.:

05353656

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U63030TN2012PLC087458	ProConnect Supply Chain Solutions Limited	Director	31/08/2012	31/08/2012	-	Active	NO
2	U72900TN2013PLC091888	ENSURE SUPPORT SERVICES (INDIA) LIMITED	Director	27/06/2013	27/06/2013	-	Active	NO

KEY EXECUTIVES

Name :	Dr. R. Arunachalam
Designation :	Senior Vice President

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 17.07.2014

Names of Shareholders	No. of Shares
Redington (India) Limited, India	4549994
K Sundaresan	1
S Srinivasan	1
K Laxmi Narayanan	1
S Krishnamoorthy	1
K S Raghu	1
Gurbir Singh Bhatia	1
Total	4550000

Equity Share Break up (Percentage of Total Equity)

As on 17.07.2014

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in providing supply chain management services.

Products :

Item Code No.	Product Description
99831161	Integrated Supply Chain Management Services

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

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 :

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 :

Information declined by the management

Bankers :

Bank Name	HDFC Bank Limited
Branch	HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans repayable on demand	18.749	0.000
Total	18.749	0.000

Auditors :
Name :	B S R and Associates Chartered Accountants
Address :	No 10 Mahatma Gandhi Road, Nungambakkam, Chennai – 600034, Tamilnadu, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAIFB7355D
Memberships :	--
Collaborators :	--
Fellow Subsidiary companies :	· Easyaccess Financial Services Limited · Cadensworth (India) Limited · Nook Micro Distribution Limited
Holding companies:	Redington (India) Limited

CAPITAL STRUCTURE

As on 17.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
4,550,000	Equity Shares	Rs.10/- each	Rs. 45.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4,550,000	Equity Shares	Rs.10/- each	Rs. 45.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013 (7 months)
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	45.500	45.500
(b) Reserves & Surplus	53.860	9.534
(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)	99.360	55.034
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	8.987	6.823
Total Non-current Liabilities (3)	8.987	6.823
(4) Current Liabilities
(a) Short term borrowings	18.749	40.500
(b) Trade payables	47.664	39.617
(c) Other current liabilities	10.678	20.226
(d) Short-term provisions	3.466	0.416
Total Current Liabilities (4)	80.557	100.759
TOTAL	188.904	162.616
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	15.536	12.436
(ii) Intangible Assets	0.938	0.607
(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)	1.900	0.782
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	29.155	28.403
Total Non-Current Assets	47.529	42.228
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	95.218	73.475
(d) Cash and cash equivalents	2.600	5.718
(e) Short-term loans and advances	14.580	13.416
(f) Other current assets	28.977	27.779
Total Current Assets	141.375	120.388
TOTAL	188.904	162.616

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013 (7 months)
	SALES
		Income	652.250	299.315
		Other Income	0.000	0.000
		TOTAL (A)	652.250	299.315
Less	EXPENSES
		Employees benefits expense	89.281	37.206
		Other expenses	490.005	243.039
		TOTAL (B)	579.286	280.245
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		72.964	19.070
Less	FINANCIAL EXPENSES (D)		1.580	2.701
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		71.384	16.369
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.969	2.579
	PROFIT BEFORE TAX (E-F) (G)		65.415	13.790
Less	TAX (H)		21.089	4.256
	PROFIT AFTER TAX (G-H) (I)		44.326	9.534
	Earnings Per Share (Rs.)		9.74	4.4

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013 (7 months)
Current Maturities of Long term debt	NA	NA
Cash generated from operations	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013 (7 months)
Net Profit Margin (PAT / Sales)	(%)	6.80	3.19
Operating Profit Margin (PBIDT/Sales)	(%)	11.19	6.37
Return on Total Assets (PBT/Total Assets}	(%)	34.98	8.52
Return on Investment (ROI) (PBT/Networth)		0.66	0.25
Debt Equity Ratio (Total Debt /Networth)		0.19	0.74
Current Ratio (Current Asset/Current Liability)		1.75	1.19

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013 (7 months)	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	45.500	45.500
Reserves & Surplus	9.534	53.860
Net worth	55.034	99.360
long-term borrowings	0.000	0.000
Short term borrowings	40.500	18.749
Total borrowings	40.500	18.749
Debt/Equity ratio	0.736	0.189

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013 (7 months)	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	299.315	652.250
		117.914

NET PROFIT MARGIN

Net Profit Margin	31.03.2013 (7 months)	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	299.315	652.250
Profit	9.534	44.326
	3.19%	6.80%

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	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)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
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 one year seven months	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year seven months	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	No
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Intercorporate deposits	0.000	40.500
Total	0.000	40.500

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10513872	13/05/2015 *	70,000,000.00	KOTAK MAHINDRA BANK LIMITED	27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E),, Mumbai, Maharashtra - 400051, INDIA	C55567747
2	10430201	22/08/2013 *	60,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B84651918

FIXED ASSETS

• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer

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.64.11
UK Pound	1	Rs.100.32
Euro	1	Rs.72.17

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	KIN
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--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		45

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.