MIRA INFORM REPORT

Report No. :	323731
Report Date :	25.05.2015

IDENTIFICATION DETAILS

Name :	JAY AMBE XEROX AND STATIONERY
Registered Office :	C/6, Kailash Espalande, Opposite Shreyas Cinema, Ghatkopar (West), Mumbai – 400 086, Maharashtra
Tel. No.:	91-22-2506648
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment:	2001
Capital Investment / Paid-up Capital :	Rs. 3.582 Million
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader of Stationery item
No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established partnership concern having satisfactory track. The concern is doing well. It has reported an acceptable turnover and fair profitability during FY2014. Overall financial position is satisfactory. Trade relations are fair. Business is active. Payment terms are usually correct. Subject can be considered for business dealings at usual business 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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Mahadev
Designation :	Partner
Contact No.:	91-9820069258
Date :	22.05.2015

LOCATIONS

Registered Office Factory :	C/6, Kailash Espalande, Opposite Shreyas Cinema, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India
Tel. No.:	91-22-25006648/7850
Mobile No.:	91-9820069258 (Mr. Mahadev)
Fax No.:	91-22-25008871
E-Mail :	jayambestationery@yahoo.co.in

PARTNERS

Name :	Mr. Mahadev Gami
Designation :	Partner
Name :	Mr. Fuli Gami
Designation :	Partner

BUSINESS DETAILS

Line of Business :	Trader of Stationery item
Products :	Not Available
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

GENERAL INFORMATION

Suppliers :

Reference :	A.K. Traders
Name of the Person :	Mr. Ashok (Proprietor)
Contact No.:	91-22-22705397/9930612951
Since How Long Known :	12 Years
Maximum Limit Dealt :	Payment Behaviour = Good Market Goodwill = God Overall = Good
Experience :	Not Divulged
Remark:	They gave us positive response about subject company they are satisfied with their payment behavior and market goodwill

Customers :

Reference :	Godrej and Boyce Manufacturing company Limited
Name of the Person :	Mr. Maroliya (Deputy Manager)
Contact No.:	91-22-67965656
Since How Long Known :	April 2015
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Company has recently started its business with Jay Ambe Xerox and Stationery due to this reason he denied to provide any feedback regarding the subject company.

No. of Employees :

8 (Approximately)

Bankers :

Bank Name	Citizen Credit Co.operative Bank Limited
Branch	Vikhroli Branch
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	As on 31.03.2014	As on 31.03.2013
Kotak Mahindra Prime Limited	0.398	0.511
Total	0.398	0.511

Auditors :
Name :	Bharat Parikh and Company Chartered Accountants
Address :	Ghatkopar, Mumbai, Maharashtra, India
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern:	Shreeji Packaging

CAPITAL STRUCTURE

As on 31.03.2014

Particulars	Amount
Mahadev Gami	2.636
Fullyben M Gami	0.946
Total	3.582

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Partners Capital		3.582	5.085	4.211
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.582	5.085	4.211
LOAN FUNDS
1] Secured Loans		0.398	0.511	0.000
2] Unsecured Loans		3.717	0.830	0.422
TOTAL BORROWING		4.115	1.341	0.422
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.697	6.426	4.633
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.710	0.833	0.362
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.926	0.196	0.575
	Sundry Debtors	6.148	6.190	5.216
	Cash & Bank Balances	0.576	1.337	0.745
	Other Current Assets	0.175	0.053	0.063
	Loans & Advances	1.200	0.300	0.275
Total Current Assets		9.025	8.076	6.874
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.961	2.289	2.459
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.077	0.194	0.144
Total Current Liabilities		2.038	2.483	2.603
Net Current Assets		6.987	5.591	4.271
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.697	6.426	4.633

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	20.292	19.621	15.577
	Other Income	0.000	0.000	0.001
	TOTAL	20.292	19.621	15.578
Less	EXPENSES
	Cost of Goods Sold	16.856	15.947	13.529
	Accounting Charges	0.012	0.000	0.020
	Advertisement Expenses	0.008	0.006	0.006
	Bank Charges	0.001	0.001	0.005
	Interest on Car Loan	0.051	0.063	0.000
	Miscellaneous Expenses	0.077	0.066	0.044
	Rent Paid	0.186	0.181	0.161
	Salary	0.560	0.481	0.231
	VAT Tax	0.387	0.531	0.164
	Repairs and Maintenance Charges	0.061	0.055	0.010
	Other Expenses	1.717	1.840	1.226
	TOTAL	19.916	19.171	15.396
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.376	0.450	0.182
Less/ Add	DEPRECIATION/ AMORTISATION	0.125	0.147	0.032
	NET PROFIT/ (LOSS)	0.251	0.303	0.150

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.24	1.54	0.96
Return on Total Assets (PBT/Total Assets}	(%)	2.58	3.40	2.07
Return on Investment (ROI) (PBT/Networth)		0.07	0.06	0.04
Debt Equity Ratio (Total Debt /Networth)		1.15	0.26	0.10
Current Ratio (Current Asset/Current Liability)		1.57	2.44	2.27

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	4.211	5.085	3.582
Reserves & Surplus	0.000	0.000	0.000
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	4.211	5.085	3.582
Secured Loan	0.000	0.511	0.398
Unsecured Loan	0.422	0.830	3.717
Total borrowings	0.422	1.341	4.115
Debt/Equity ratio	0.100	0.264	1.149

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)
Sales	15.577	19.621	20.292
		25.961	3.420

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	15.577	19.621	20.292
Profit	0.150	0.303	0.251
	0.96%	1.54%	1.24%

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	No
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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
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	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	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	As on 31.03.2014	As on 31.03.2013
Unsecured Loan	3.717	0.830
Total	3.717	0.830

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.63.57
UK Pound	1	Rs.99.67
Euro	1	Rs.70.93

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUM
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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		43

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.