MIRA INFORM REPORT

Report No. :	310108
Report Date :	05.03.2015

IDENTIFICATION DETAILS

Name :	PARTHE TUBE ICE TECHNOLOGIES
Registered Office :	No. 18/5, J. P. M. Society,  Sant Ramdas Marg Road, Mulund (East), Mumbai - 400081, Maharashtra
Country :	India
Financials (as on) :	31.03.2014 (Provisional)
Date of Incorporation :	20.10.2010
Capital Investment / Paid-up Capital :	Rs.0.820 Million
IEC No.:	Not Available
TIN No.:	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Partnership Concern with an unlimited liability of the partners
Line of Business :	Manufacturer and Fabricator of Tube Ice, Block Ice and Chilling Machine.
No. of Employees :	11 (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 :	Slow but correct
Litigation :	Clear
Comments :	Even though the concern was incorporated during the year 2010 the concern commenced its operation from 2013. It is having moderate track record. Mr. Ankit Vaidyanath Parthe, Partner has provided information to us. As per provisional financial statement of 2014 the concern has achieved decent turnover from its operational activities. However, trade relations are reported to be improving. Business is active. Payment terms are reported to be slow but correct. The concern 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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. Aniket Vaidyanath Parthe
Designation :	Partner
Contact No.:	91-9665496407
Date :	03.03.2015

LOCATIONS

Registered Office :	No. 18/5, J. P. M. Society,  Sant Ramdas Marg Road, Mulund (East), Mumbai - 400081, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9665496407 (Mr. Aniket Vaidyanath Parthe) 91-9320162109 (Mr. Vaidyanath)
Fax No.:	Not Available
E-Mail :	parthetubeicetechnology@gmail.com parthetubeicetechnology@hotmail.com
Website :	www.parthetobeice.com www.aironfreeze.com
Area :	350 Sq. Ft
Location :	Owned
Factory :	PAP/R 221, T.T.C Industrial Area, Rabale, M.I.D.C, Navi Mumbai - 400701, Maharashtra, India
Area :	1000 Sq. Ft
Location :	Rented

PARTNERS

Name :	Mr. Aniket Vaidyanath Parthe
Designation :	Partner
Date of Birth / Age :	31 Years
Qualification :	BE Mechanical
Name :	Mrs. Swati Vaidyanath Parthe
Designation :	Partner
Date of Birth / Age :	58 Years
Qualification :	BA

BUSINESS DETAILS

Line of Business :	Manufacturer and Fabricator of Tube Ice, Block Ice and Chilling Machine.
Products :	Tube Ice, Block Ice and Chilling Machine.
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Gargi Engineering Enterprises Private Limited
Name of the Person :	Mr. Dixit
Contact No.:	91-9930318752
Since How Long Known :	Known owner form 10 year and subject from 4 years
Experience :	Product Quality – Good Delivery Behaviour – Good Overall – Good
Maximum Limit Dealt :	Rs.1.500 Million
Remark :	They know owner from long time, they are experienced and has goodwill In market.

Customers :

Reference :	Sajjan India Limited
Name of the Person :	Mr. Briju (Purchase Officer)
Contact No.:	91-8511110586
Since How Long Known :	1 Years
Experience :	Product Quality – Good Delivery Behaviour – Good Overall – Good
Maximum Limit Dealt :	Rs.1.500 Million
Remark :	They are satisfied in dealing with them, they are co-operative and deliver goods on time

No. of Employees :

11 (Approximately)

Bankers :

Banker Name	HDFC Bank Limited
Branch Address	Mulund East, 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

Banking Relations :	--
Auditors :
Name :	Shetty and Associates Chartered Accountants
Memberships :	--
Sister Concerns :	Not Divulged

CAPITAL STRUCTURE

As on 31.03.2014

Particulars	Rs. In Million
Mr. Aniket V. Parthe	0.713
Mrs. Swati V. Parthe	0.107
Total	0.820

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014 (Provisional)	31.03.2013
SHAREHOLDERS FUNDS
1] Share Capital		0.820	0.096
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.820	0.096
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		2.332	(0.270)
TOTAL BORROWING		2.332	(0.270)
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		3.152	(0.174)
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.160	0.006
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	0.756	2.668
	Sundry Debtors	2.895	(1.961)
	Cash & Bank Balances	0.539	0.236
	Other Current Assets	0.140	0.151
	Loans & Advances	0.000	0.000
Total Current Assets		4.330	1.094
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.196	1.249
	Other Current Liabilities	0.142	0.025
	Provisions	0.000	0.000
Total Current Liabilities		1.338	1.274
Net Current Assets		2.992	(0.180)
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		3.152	(0.174)

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014 (Provisional)	31.03.2013
	SALES
		Income	12.105	1.088
		Other Income	0.001	0.000
		TOTAL	12.106	1.088
Less	EXPENSES
		Cost of goods sold	9.142	0.772
		Accounting Charges	0.018	0.009
		Audit Fees	0.045	0.056
		Advertising Charges	0.102	0.000
		Bank Charges	0.006	0.000
		Bonus	0.101	0.000
		Commission	0.020	0.000
		Conveyance	0.038	0.001
		Donation	0.016	0.001
		Electricity Charges	0.041	0.001
		Freight & Octroi	0.001	0.010
		Gas Consumption	0.002	0.000
		Hire Charges	0.004	0.000
		Packaging & Forwading	0.006	0.000
		Printing & Stationery	0.026	0.017
		Registration Fees	0.005	0.000
		Professional Charges	0.020	0.006
		Rent, Rates & Taxes	0.360	0.033
		Repairs & Maintenance	0.280	0.050
		Round off	0.000	0.000
		Salaries	0.707	0.198
		Staff Welfare	0.021	0.002
		Sundry Expenses	0.022	0.000
		Transport Charges	0.122	0.043
		Water Charges	0.010	0.006
		TOTAL	11.115	1.205
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.991	(0.117)
Less	DEPRECIATION/ AMORTISATION		0.010	0.001
	PROFIT/(LOSS) FOR THE YEAR		0.981	(0.118)

The above information has been parted by Mr. Ankit Parthe

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

KEY RATIOS

PARTICULARS		31.03.2014 (Provisional)	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	8.10	(10.85)
Operating Profit Margin (PBDIT/Sales)	(%)	8.19	910.75)
Return on Total Assets (PBT/Total Assets}	(%)	21.85	(10.73)
Return on Investment (ROI) (PBT/Networth)		1.20	(1.23)
Debt Equity Ratio (Total Debt /Networth)		2.84	(2.81)
Current Ratio (Current Asset/Current Liability)		3.24	0.86

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014 (Provisional)
	Rs. In Million	Rs. In Million
Share Capital	0.096	0.820
Reserves & Surplus	0.000	0.000
Money received against share warrants	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	0.096	0.820
Secured Loans	0.000	0.000
Unsecured Loans	(0.270)	2.332
Total borrowings	(0.270)	2.332
Debt/Equity ratio	(2.813)	2.844

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014 (Provisional)
	Rs. In Million	Rs. In Million
Sales	1.088	12.105
		1,012.592

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014 (Provisional)
	Rs. In Million	Rs. In Million
Sales	1.088	12.105
Profit	(0.118)	0.981
	(10.85%)	8.10%

LOCAL AGENCY FURTHER INFORMATION

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
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

FIXED ASSETS

• Furniture and Fixtures
• Mobile Phone
• Tools and Equiptments

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.61.85
UK Pound	1	Rs.94.96
Euro	1	Rs.69.10

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	DIV
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	2
--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		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.