MIRA INFORM REPORT

Report No. :	314460
Report Date :	27.03.2015

IDENTIFICATION DETAILS

Name :	DEALSKART ONLINE SERVICES PRIVATE LIMITED
Registered Office :	D 12/2, Okhla Phase 2, New Delhi – 110020
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.09.2011
Com. Reg. No.:	55-224819
Capital Investment / Paid-up Capital :	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U74140DL2011PTC224819
TAN No.: [Tax Deduction & Collection Account No.]	DELD13049B
PAN No.: [Permanent Account No.]	AADCD9571D
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the retail and distribution of branded and private labelled Eyeglasses, Sunglasses, Contact Lenses, Watches and accessories, Bags and accessories, and jewellery products.
No. of Employees :	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has incurred huge accumulated losses which exceeds the entire net worth of the company. However, Business is active. Payments terms are reported to be slow. The company can be considered for business dealings on a secured 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 – 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

Name :	Ms. Neetu Mittal
Designation :	Director
Contact No.:	91-11-4949-4646
Date :	25.03.2015

LOCATIONS

Registered Office :	D 12/2, Okhla Phase 2, New Delhi – 110020, India
Tel. No. :	91-11-49494646/ 66570593
Fax No. :	91-11-49494646
E-Mail :	dns@dnsadvisors.com intdeliveries@credisale.com kundan.kumar@dealskartin
Website :	http://www.lenskart.com
Location :	Owned
Locality :	Industrial
Branches Office:	T-27, Ground Floor, Okhla Industrial Area, Phase 2, New Delhi – 110028, India
Location :	Owned

DIRECTORS

AS ON 30.09.2014

Name :	Ms. Neetu Mittal
Designation :	Director
Address :	59, D Block, Pushpanjali Enclave, Pitampura, Delhi – 110034, India
Date of Birth/Age :	28.09.1982
Qualification :	Graduate
Date of Appointment :	08.09.2011
DIN No. :	03616423
Name :	Ms. Usha Singhal
Designation :	Director
Address :	1 B Ram Chander Lane, Shankra Charya Marg, Civil Line, Delhi – 110054, India
Date of Birth/Age :	12.06.1957
Qualification :	Graduate
Date of Appointment :	08.09.2011
DIN No. :	03616430
Name :	Ms. Sneh Lata Mittal
Designation :	Director
Address :	D-59, First Floor, Puspanjali Enclave, Pitam Pura, New Delhi – 110034, India
Date of Birth/Age :	24.02.1964
Qualification :	H.S.C.
Date of Appointment :	10.10.2011
DIN No. :	03623847

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Neetu Mittal	45000	45.00
Usha Singhal	45000	45.00
Sneh Lata Mittal	10000	10.00
Total	100000	100.00

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the retail and distribution of branded and private labelled Eyeglasses, Sunglasses, Contact Lenses, Watches and accessories, Bags and accessories, and jewellery products.
Products :	--
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :
Selling :	Cash, Cheque and Credit
Purchasing :	Cash, Cheque and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

Customers :

Wholesalers, Retailers and Manufactures

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

No. of Employees :

80 (Approximately)

Bankers :

Bank Name:	Oriental Bank of Commerce
Branch:	Gurgaon, Haryana India
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks: Not Divulged

Banking Relations :	--
Auditors :
Name :	J.C. Bhalla and Company Chartered Accountants
Address :	B-5, Sector-6, Noida – 201301, Uttar Pradesh, India
Tel. No. :	91-120-4241000
Fax No. :	91-120-4241007
E-Mail :	taxaid@vsnil.com
Income-tax PAN of auditor or auditor's firm :	AAAFJ3258M
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

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	1.000	1.000	0.100
(b) Reserves & Surplus	(37.787)	(37.977)	(10.030)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	(36.787)	(36.977)	(9.930)
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.498	0.807	0.139
Total Non-current Liabilities (3)	1.498	0.807	0.139
(4) Current Liabilities
(a) Short term borrowings	3.507	0.000	0.000
(b) Trade payables	116.121	107.158	47.444
(d) Other current liabilities	7.446	4.541	2.191
(e) Short-term provisions	0.023	0.008	0.002
Total Current Liabilities (4)	127.097	111.706	49.637
TOTAL	91.808	75.537	39.846
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8.630	1.642	0.261
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(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	3.567	2.542	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	12.197	4.184	0.261
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	57.901	48.598	24.961
(c) Trade receivables	15.351	19.648	12.214
(d) Cash and cash equivalents	5.523	1.965	0.974
(e) Short-term loans and advances	0.793	1.133	1.426
(f) Other current assets	0.043	0.009	0.010
Total Current Assets	79.611	71.353	39.585
TOTAL	91.808	75.537	39.846

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	591.716	388.381	53.648
Less	EXPENSES
		TOTAL	590.537	415.942	63.671
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.179	(27.561)	(10.023)
Less/ Add	DEPRECIATION/ AMORTISATION		0.989	0.386	0.007
	PROFIT/ (LOSS) BEFORE TAX		0.190	(27.947)	(10.030)
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		0.190	(27.947)	(10.030)
	Earnings / (Loss) Per Share (Rs.)		1.90	(279.47)	(1002.96)

Expected Sales (2014-2015): Rs. 620.000 Millions

The above information has been parted by Ms. Neetu Mittal (Director)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.21	(37.00)	(25.17)
Return on Investment (ROI) (PBT/Networth)		(0.01)	0.76	1.01
Debt Equity Ratio (Total Debt/Networth)		(0.10)	0.00	0.00
Current Ratio (Current Asset/Current Liability)		0.63	0.64	0.80

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	1.000	1.000
Reserves & Surplus	(10.030)	(37.977)	(37.787)
Net worth	(9.930)	(36.977)	(36.787)
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	3.507
Total borrowings	0.000	0.000	3.507
Debt/Equity ratio	0.000	0.000	(0.095)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	53.648	388.381	591.716
		623.943	52.355

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	53.648	388.381	591.716
Profit	(10.030)	(27.947)	0.190
	(18.70%)	(7.20%)	0.03%

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS:

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
Neetu Mittal	2.505	0.000
Usha Singhal	1.002	0.000
Total	3.507	0.000

CHANGE OF ADDRESS:

The registration Office of the Company has been shifted from W-123, Greater Kailash II, Delhi - 110048, India to the present address w.e.f. 15.09.2012.

REVIEW OF OPERATION:

During the year, the Company has earned gross revenuer of Rs. 587.836 Millions from retail selling of eyewear, watches, Bags, Jewelry and Accessories. The net profit for the year has been Rs. 0.190 Million as against loss of Rs. 27.947 Millions in previous year. The Directors are continuously looking for avenues for future growth of the Company in rapidly growing e – commerce industry.

BACKGROUND:

The Company was incorporated under the Companies Act, 1956 on 8 September 2011, as Private Limited Company. The Company is engaged in retail and distribution of branded and private labelled Eyeglasses, Sunglasses, Contact Lances, Watches and Accessories, Bags and Accessories and Jewellery products.

FIXED ASSETS

· Office Equipment’s

· Furniture and Fixtures

· Vehicle

· Plant and Machinery

· Computers and Peripherals

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 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.62.67
UK Pound	1	Rs.93.26
Euro	1	Rs.68.85

INFORMATION DETAILS

Information Gathered by :	SAN
Analysis Done by :	DIV
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	-
--CREDIT LINES	1~10	-
--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		12

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.