MIRA INFORM REPORT

Report No. :	308827
Report Date :	28.03.2015

IDENTIFICATION DETAILS

Name :	WINNERS INDUSTRIES PRIVATE LIMITED

Registered Office :	701 B, Sumer Plaza, Cts 419, Marol Maroshi Road, Andheri (East), Mumbai – 400059, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	13.09.2012

Com. Reg. No.:	11-235672

Capital Investment / Paid-up Capital :	Rs. 36.500 Million

CIN No.: [Company Identification No.]	U74900MH2012PTC235672

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Trading of Bowls, Colander, Storage, Canister, Jugs, Trays, Flat wares, Accessories, Hotel ware, Non-stick Anodized.

No. of Employees :	150 (Approximately) (Office – 50, Factory – 100)

RATING & COMMENTS

MIRA’s Rating :

B (41)

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

Maximum Credit Limit :	USD 100000

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is a Relatively new company having satisfactory track record. Management has reported considerable rise in its total revenue and profitability during the year 2013-14. However, reserves seems to be low. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings at 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Pradeep Banal
Designation :	Manager
Contact No.:	91-7710071056
Date :	14.03.2015

LOCATIONS

Registered Office / Factory :	701 B, Sumer Plaza, CTS 419, Marol Maroshi Road, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-29204250
Mobile No.:	91-7710071056 (Mr. Pradeep Banla)
Fax No.:	91-22-29254250
E-Mail :	Sales@winnersipl.com winners.jodhpur@gmail.com
Website :	Not Available
Area :	5000 Sq. Ft.
Location :	Rented

DIRECTORS

As on : 25.09.2014

Name :

Ms. Anuradha Agarwal

Designation :

Director

Address :

A/1/502, Shankeshwar, Anant Ganpat Pawar Cross Lane, Byculla, Mumbai – 400027, Maharashtra, India

Date of Birth/Age :

16.08.1969

Date of Appointment :

13.09.2012

DIN No.:

01302977

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	U45200MH2007PTC167877	SATISFACTION PROPERTIES PRIVATE LIMITED	Director	15/02/2007	15/02/2007	28/02/2014	Active	NO
2	U74900MH2012PTC235672	Winners Industries Private Limited	Director	13/09/2012	13/09/2012	-	Active	NO
3	U27310MH2012PTC236794	VARUN STEEL PRIVATE LIMITED	Director	15/10/2012	15/10/2012	08/11/2013	Active	NO
4	U55100MH1988PTC047006	TROPICAL LANDSCAPES PRIVATE LIMITED	Additional director	16/10/2012	16/10/2012	-	Active	NO
5	U45200DL2006PTC156275	YASHVARDHAN REALTORS PRIVATE LIMITED	Additional director	20/03/2014	20/03/2014	-	Active	NO

Name :

Mr. Anilsingh Chaddha

Designation :

Director

Address :

210, Gold Mohur Building, 174, Princess Street, Marine Lines, Mumbai – 400002, Maharashtra, India

Date of Birth/Age :

22.11.1964

Date of Appointment :

13.09.2012

DIN No.:

05323667

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	U74900MH2012PTC235672	Winners Industries Private Limited	Director	13/09/2012	13/09/2012	15/12/2014	Active	NO
2	U27310MH2012PTC236794	VARUN STEEL PRIVATE LIMITED	Director	15/10/2012	15/10/2012	01/02/2013	Active	NO
3	U55100MH1988PTC047006	TROPICAL LANDSCAPES PRIVATE LIMITED	Additional director	16/10/2012	16/10/2012	-	Active	NO

Name :

Mr. Manojkumar Shankerlal Agarwal

Designation :

Director

Address :

A-201, Chamunda Place, Geeta Nagar, 90 FT Cross Road, Bhayander (West), Thane – 401101, Maharashtra, India

Date of Birth/Age :

01.09..1968

Date of Appointment :

30.09.2013

DIN No.:

06575987

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	U74900MH2012PTC235672	Winners Industries Private Limited	Director	30/09/2013	07/05/2013	-	Active	NO
2	U45200DL2006PTC156275	YASHVARDHAN REALTORS PRIVATE LIMITED	Additional director	20/03/2014	20/03/2014	-	Active	NO

Name :

Mrs. Neha Viniet Jain

Designation :

Director

Address :

1801 – A, Vardham, T B Kadam Marg, Byculla, Mumbai – 400027, Maharashtra, India

Date of Birth/Age :

16.01.1988

Date of Appointment :

25.09.2014

DIN No.:

06546114

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	U17100MH1988PTC050105	ROYAL SYNTHETICS PRIVATE LIMITED	Director	01/01/2013	01/01/2013	08/08/2013	Active	NO
2	U18100MH1997PTC109898	ROLSON TEXTILES PRIVATE LIMITED	Director	25/05/2013	25/05/2013	08/08/2013	Active	NO
3	U17200MH2013PTC244012	NEVITON FABRICS PRIVATE LIMITED	Director	04/06/2013	04/06/2013	-	Active	NO
4	U74900MH2012PTC235672	Winners Industries Private Limited	Director	25/09/2014	10/07/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pradeep Banal
Designation :	Manager
Address :
Name :	Mr. Rajesh Shettigar
Designation :	VP Sales Marketing

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 25.09.2014

Names of Shareholders	No. of Shares	%age
Anuradha Agarwal	657000	18.00
Anilsingh Cahddha	224000	6.14
Manoj Kumar Shankerlal Agarwal	2769000	75.86
Total	3650000	100.00

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 Trading of Bowls, Colander, Storage, Canister, Jugs, Trays, Flat wares, Accessories, Hotel ware, Non-stick Anodized.

Products :	Bowls Colander Storage Canister Jugs, Trays Flat wares Accessories Hotel ware Non-stick Anodized

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Countries :	Africa Europe USA UK

Imports :	Not Divulged

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	MNB Private Limited - Australia
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

150 (Approximately) (Office – 50, Factory – 100)

Bankers :

Banker Name	Laxmi Vilas Bank
Branch Address	Fort, Mumbai
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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Cash Credit / ODBD	2.504	0.000
(Cash Credit Limits are secured by first charge/hypothecation of Stock / inventory, receivable and advances to supplier of the Company as well as on immovable properties (flats) owned by its Directors, personal guarantees of Manoj S Agarwal and Smt Anuradha Agarwal
Total	2.504	0.000

Auditors :
Name :	GMJ and Company Chartered Accountants
Address :	3^rd and 4^th Floor, Vaastu Darshan, B Wing, Above Central Bank of India, Azad Road, Andheri (East), Mumbai – 400069, Maharashtra, India
Tel. No.:	91-22-61919293/222/200
Fax No.:	91-22-2684222/61919256
E-Mail :	admin@gmj.co.in info@gmj.co.in
PAN No.:	AAAFG2163L

Memberships :	Not Available

Collaborators :	Not Available

Enterprises over which Key Managerial person have significant influence :	Satisfaction Properties Private Limited

CAPITAL STRUCTURE

As on : 25.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

3650000	Equity Shares	Rs.10/- each	Rs.36.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	36.500	0.500
(b) Reserves & Surplus	9.731	1.444
(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)	46.231	1.944

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.753	0.002
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.753	0.002

(4) Current Liabilities
(a) Short term borrowings	43.739	36.044
(b) Trade payables	133.843	7.868
(c) Other current liabilities	18.738	0.354
(d) Short-term provisions	0.154	0.660
Total Current Liabilities (4)	196.474	44.926

TOTAL	243.458	46.872

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	51.187	0.122
(ii) Intangible Assets	0.000	0.000
(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)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	5.208	0.173
Total Non-Current Assets	56.395	0.295

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	110.263	14.026
(c) Trade receivables	59.467	28.769
(d) Cash and cash equivalents	0.440	2.709
(e) Short-term loans and advances	9.510	0.000
(f) Other current assets	7.383	1.073
Total Current Assets	187.063	46.577

TOTAL	243.458	46.872

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013

	TURNOVER	938.948	98.634

Less	EXPENSES	NA	NA

	PROFIT BEFORE TAX	12.238	2.106

Less	TAX	3.952	0.662

	PROFIT AFTER TAX	8.286	1.444

	EARNINGS IN FOREIGN CURRENCY
	Utensils	221.552	70.405
	TOTAL EARNINGS	221.552	70.405

	IMPORTS
	Capital Goods	3.768	0.000
	TOTAL EARNINGS	3.768	0.000

	Earnings Per Share (Rs.)	2.27	0.40

Expected Sales (2014-15) : Rs.1000.000 Million

The above information has been parted by Mr. Pradeep Banal (Manager)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT/Turnover)	(%)	0.88	1.46

Return on Total Assets (PBT/Total Assets}	(%)	5.03	4.49

Return on Investment (ROI) (PBT/Networth)		0.26	1.08

Debt Equity Ratio (Total Debt /Networth)		0.95	18.54

Current Ratio (Current Asset/Current Liability)		0.95	1.04

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.500	36.500
Reserves & Surplus	1.444	9.731
Net worth	1.944	46.231

long-term borrowings	0.000	0.000
Short term borrowings	36.044	43.739
Total borrowings	36.044	43.739
Debt/Equity ratio	18.541	0.946

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Turnover	98.634	938.948
	--	851.952

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Turnover	98.634	938.948
Profit	1.444	8.286
	1.46%	0.88%

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

WORKING RESULTS

During the year the turnover of the company has group up from Rs.98.634 Million to 938.948 Million. The company has earned a profit after tax amounting to Rs. 80.287 Million as compared to a profit incurred Rs. 1.444 Million in previous period. The Directors are hopeful for a better result in the current year.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing

Loans are Repayable on Demand
From Directors	4.434	1.044
From Related Parties	12.300	0.000
From Others	24.500	35.000
Total	41.234	36.044

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10527161	10/10/2014	50,000,000.00	STATE BANK OF BIKANER AND JAIPUR	JALORI GATE, JODHPUR, Rajasthan - 342001, INDIA	C30630321

* Date of charge modification

FIXED ASSETS

Land
Building
Plant and machinery
Furniture and Fixture
Office Equipments
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 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 :	RKA

Analysis Done by :	SUC

Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	3
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		41

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.

MIRA INFORM REPORT

Unit