MIRA INFORM REPORT

Report No. :	312144
Report Date :	17.03.2015

IDENTIFICATION DETAILS

Name :	SHIVAM AUTOZONE (INDIA) PRIVATE LIMITED
Registered Office :	Plot No:- 64 EFGH Kandivali Industrial Estate, Charkop, Kandivali (West), Mumbai - 400067, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.03.2011
Com. Reg. No.:	11- 214242
Capital Investment / Paid-up Capital :	Rs.141.500 Million
CIN No.: [Company Identification No.]	U50103MH2011PTC214242
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMS70834B
PAN No.: [Permanent Account No.]	AAPCS4402A
Legal Form :	Private Limited Liability Company
Line of Business :	Authorized Dealer of Car.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company with limited operational history having moderate track. Management has reported huge gearing along with accumulated losses FY 2014. However, trade relations seems to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with 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

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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Ramakant Roonga
Designation :	Office Executive
Contact No.:	91-22-42555555
Date :	16.03.2015

LOCATIONS

Registered Office / Workshop 1 :	Plot No:- 64 EFGH Kandivali Industrial Estate, Charkop, Kandivali (West), Mumbai - 400067, Maharashtra, India
Tel. No.:	91-22-41033333
Service Hotline :	91-8082696969
Fax No.:	91-22-41033330
E-Mail :	sales@shivamauto.in service@sivamauto.in
Website :	http://www.shivamautozone.com
Showroom 1 :	Lakshachandi Towers, Near Kandivali Flyover, S. V. Road, Kandivali (West), Mumbai – 400067, Maharashtra, India
Fax No.:	91-22-42555555 / 33244444
Fax No.:	91-22-3324440
Showroom :	Raghuleela Mega Mall, Shop No. G003/3A, Kandiwali (West), Mumbai – 400067, Maharashtra, India
Fax No.:	91-22-41044444
Fax No.:	91-22-41044440
Workshop 2 and Showroom 3 :	Plot No. 5, Next To Aryan HP Petrol Pump, Mumbai Ahmedabad Highway, NH- 8, Talasari- 401606, District – Palghar, Maharashtra, India
Tel. No.:	91-2521-220777

DIRECTORS

As on 30.09.2014

Name :

Mr. Samir Narendra Jani

Designation :

Director

Address :

Asha Jyoti, 3rd Floor,, Bhaudaji Cross Road No.7, Matunga, Mumbai - 400019, Maharashtra, India

Date of Birth/Age :

05.01.1968

Date of Appointment :

01.03.2011

PAN No.:

AARPJ4160D

DIN No.:

01592330

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	U35999MH2006PTC163055	AADYA AUTO PRIVATE LIMITED	Director	12/07/2006	12/07/2006	31/03/2012	Active	NO
2	U45200TG2004PTC044297	PHOENIX VENTURES PRIVATE LIMITED	Director	05/12/2006	05/12/2006	11/07/2007	Active	NO
3	U45201MH2006PTC163061	Aadya Realtors & Estates Private Limited	Director	01/04/2007	01/04/2007	-	Active	NO
4	U50103MH2004PTC145563	PHEONIX AUTO PRIVATE LIMITED	Director	31/03/2008	31/03/2008	31/03/2011	Active	NO
5	U45200MH2000PTC164337	GLOBAL BUILDCON PRIVATE LIMITED	Director	29/09/2008	29/09/2008	-	Active	NO
6	U45400MH2009PTC197205	SHIVAM MEGASTRUCTURES PRIVATE LIMITED	Director	21/11/2009	21/11/2009	05/10/2010	Active	NO
7	U45400MH2010PTC201098	MONARCH TECHNOBUILD PRIVATE LIMITED	Director	20/03/2010	20/03/2010	-	Converted to LLP and dissolved	NO
8	U50103MH2011PTC214242	SHIVAM AUTOZONE (INDIA) PRIVATE LIMITED	Director	01/03/2011	01/03/2011	-	Active	NO
9	AAC-9745	MONARCH TECHNOBUILD LLP	Designated Partner	26/11/2014	26/11/2014	-	Active	NO

Name :

Mrs. Ritu Samir Jani

Designation :

Director

Address :

388.801, Sterling Heritage, Matunga Post Office, Shankar Mattham Road, Matunga C R. Matunga S. O, Mumbai - 400019, Maharashtra, India

Date of Birth/Age :

17.02.1971

Date of Appointment :

01.03.2011

PAN No.:

AFMPJ5118F

DIN No.:

02955061

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	U45400MH2010PTC201098	MONARCH TECHNOBUILD PRIVATE LIMITED	Director	20/03/2010	20/03/2010	-	Converted to LLP and dissolved	NO
2	U50103MH2011PTC214242	SHIVAM AUTOZONE (INDIA) PRIVATE LIMITED	Director	01/03/2011	01/03/2011	-	Active	NO
3	AAC-9745	MONARCH TECHNOBUILD LLP	Designated Partner	26/11/2014	26/11/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramakant Roonga
Designation :	Office Executive

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Samir Narendra Jani	12900000	91.17
Ritu Samir Jani	1250000	8.83
Total	14150000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Authorized Dealer of Car.

Products :

Product Description	Item Code No. (ITC Code)
Cycles/Motor Vehicle	85122090
Leasing or rental services without operator	99731110

Brand Names :

--

Agencies Held :

--

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Maruti, Gurgaon, Haryana, India
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

Customers :

Reference :	Reliance, Mumbai, Maharashtra, India
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

No. of Employees :

400 (Approximately)

Bankers :

· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai, Maharashtra - 400013, India

· State Bank Of India, Commercial Branch, 1548-A'Tulsi Apartments' 2nd Floor, Off Tilak Road, Sadashiv Peth, Pune, Maharashtra - 411030, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Rupee term loans from banks	185.262	185.425
Other loans and advances	11.817	16.645
SHORT TERM BORROWINGS
Loans repayable on demand from banks	283.508	330.725
Total	480.587	532.795

Auditors :
Name :	P H D and Company Chartered Accountants
Address :	201, C-Wing, Jugal Jyoti Society, 176, C.S.T. Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India
Tel. No.:	91-22-65785537
PAN No.:	AACPD6383P
Memberships :	--
Collaborators :	--
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14150000	Equity Shares	Rs.10/- each	Rs.141.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	141.500	90.000	10.000
(b) Reserves & Surplus	(73.863)	(75.656)	(33.547)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	40.000
Total Shareholders’ Funds (1) + (2)	67.637	14.344	16.453
(3) Non-Current Liabilities
(a) long-term borrowings	271.294	208.297	228.807
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	1.423	3.862	9.200
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	272.717	212.159	238.007
(4) Current Liabilities
(a) Short term borrowings	283.508	330.725	138.078
(b) Trade payables	31.820	21.235	27.034
(c) Other current liabilities	113.010	134.187	49.104
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	428.338	486.147	214.216
TOTAL	768.692	712.650	468.676
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	360.836	152.753	68.867
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	177.126	232.148
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	20.689	40.505	21.907
(e) Other Non-current assets	5.015	7.402	9.789
Total Non-Current Assets	386.540	377.786	332.711
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	225.546	271.370	67.070
(c) Trade receivables	106.536	23.347	51.440
(d) Cash and cash equivalents	39.894	29.257	12.846
(e) Short-term loans and advances	9.777	10.618	4.447
(f) Other current assets	0.399	0.272	0.162
Total Current Assets	382.152	334.864	135.965
TOTAL	768.692	712.650	468.676

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL	1597.497	1142.882	390.111
Less	EXPENSES		NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT/(LOSS) AFTER TAX		1.793	(42.109)	(33.547)
	Earnings / (Loss) Per Share (Rs.)		0.13	NA	(33.55)

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	8.20	37.58	22.30
Current Ratio (Current Asset/Current Liability)	0.89	0.69	0.63

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	10.000	90.000	141.500
Reserves & Surplus	(33.547)	(75.656)	(73.863)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	40.000	0.000	0.000
Net worth	16.453	14.344	67.637
Long Term borrowings	228.807	208.297	271.294
Short Term borrowings	138.078	330.725	283.508
Total borrowings	366.885	539.022	554.802
Debt/Equity ratio	22.299	37.578	8.203

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Total Income	390.111	1,142.882	1,597.497
		192.963	39.778

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Total Income	390.111	1,142.882	1,597.497
Profit	(33.547)	(42.109)	1.793
	(8.60%)	(3.68%)	0.11%

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	No
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 three years	Yes
12]	Profitability for last three 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	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Loans and advances from related parties	74.215	6.227
Total	74.215	6.227

FINANCIAL RESULTS:

During the year, the Company has earned total income of Rs.1597.497 Million. The Company has earned net profit of Rs.1.793 Million after providing provision for depreciation and amortization of Rs.23.984 Million.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10517989	15/07/2014	160,000,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	C19158385
2	10433482	15/05/2013	50,000,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B78149366
3	10306469	09/05/2014 *	419,000,000.00	State Bank Of India Commercial Branch	1548-A'Tulsi Apartments' 2nd Floor, Off Tilak Road, Sadashiv Peth, Pune, Maharashtra - 411030, India	C05093984

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.62.82
UK Pound	1	Rs.92.83
Euro	1	Rs.66.17

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUB
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--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	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		30

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.