MIRA INFORM REPORT

Report No. :	351451
Report Date :	27.11.2015

IDENTIFICATION DETAILS

Name :	PRADIP TRADING CO.
Registered Office :	Shree Sunder Kamala Nagar, Room M C.R-87, Near King Circle Railway Station Sion, Mumbai-400022, Maharashtra
Mob. No.:	91-9870374779 (Mr. Pradeep Pawar)
Country :	India
Financials (as on) :	31.03.2015
Date of Establishment :	09.09.1963
Capital Investment :	Rs. 2.653 Million
IEC No.:	Not Divulged
PAN No.: [Permanent Account No.]	ANPPP1943B
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader of Fabrics.
No. of Employees :	03 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was established in the year 1963 as a proprietorship concern and it is having satisfactory track record. Mr. Pradeep Pawar, Proprietor of the concern has provided information to us. The rating takes into account on concern healthy operational activities along with well-established track record and decent experienced of the proprietor in trading of fabrics business. However, this rating strength is partially offsets by the trading nature of its business and low profitability margin of the concern recorded over the years. Trade relations are fair. Business is active. Payments terms are slow but correct. In view of aforesaid, the concern can be considered for business dealing with 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 – 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

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Pradeep Pawar
Designation :	Proprietor
Contact No.:	91-9870374779
Date :	26.11.2015

LOCATIONS

Registered Office :	Shree Sunder Kamala Nagar, Room M C.R-87, Near King Circle Railway Station Sion, Mumbai-400022, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9870374779 (Mr. Pradeep Pawar)
Fax No.:	Not Available
E-Mail :	pawarpradip1963@gmail.com
Location :	Owned

SOLE PROPRIETOR

Name :	Mr. Pradeep Pawar
Designation :	Proprietor
Date of Birth/Age :	53 Years
Qualification :	S.S.C

BUSINESS DETAILS

Line of Business :	Trader of Fabrics.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	--
Countries :	--
Imports :
Products :	--
Countries :	--
Terms :
Selling :	90 days
Purchasing :	L/C (90 days)

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Retailers

Reference:	Asian Tradecon Limited, Mumbai (Sion)
Name of the Person (Designation):	Mr. Selvam (Finance Department)
Contact Number:	91-22-66669770
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	He denied to provide any information.

No. of Employees :

03 (Approximately)

Bankers :

Bank Name:	Greater Bank
Branch:	Churchgate Chambers, Ground Floor, Vithaldas Thakersey Marg, 5 New Marinlines, Mumbai-400020, Maharashtra, India
Person Name (with Designation):	Mr. John Quadros
Contact Number:	91-22-61285925
Name of Account Holder:	Not Divulged
Account Number:	30202271809
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: He denied to provided any information on call he told me send mail after that he will revert on mail. He only confirmed that the subject company have current account only. Sent Mail: (john.quadros@greaterbank.com )

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Mr. Bhavesh Shah and Associates Chartered Accountants
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2015

Particulars	Amount	Particulars	Amount
To Drawings	0.047	By Opening Balance	2.197
To VAT Paid (Prior period)	0.200	Bank Interest	0.006
To Asian Tradecon Limited (Mediclaim)	0.009	By Net Profit As per Profit & Loss A/c	0.707
To Closing Balance	2.653
Total	2.910		2.910

FINANCIAL DATA

[all figures are in Rupees Million]

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015	31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietor Capital Account		2.653	2.197	2.782
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		2.653	2.197	2.782
LOAN FUNDS
1] Secured Loans			0.000
2] Unsecured Loans			0.000
TOTAL BORROWING		24.351	0.000	0.601
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		27.004	2.197	3.383
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
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	5.230	0.000	0.000
	Sundry Debtors	43.521	0.000	94.885
	Cash & Bank Balances	0.508	0.374	0.671
	Other Current Assets	0.000	86.862	0.000
	Loans & Advances	5.203	0.202	0.202
Total Current Assets		54.462	87.438	95.758
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	27.287	85.094	92.357
	Other Current Liabilities	0.000	0.000	0.018
	Provisions	0.171	0.147	0.000
Total Current Liabilities		27.458	85.241	92.375
Net Current Assets		27.004	2.197	3.383
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		27.004	2.197	3.383

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Sales	93.160	68.526	170.299
		Other Income	0.102	0.681	0.001
		TOTAL	93.262	69.207	170.300
Less	EXPENSES
		Cost of Goods Sold	89.817	66.675	167.056
		LC Discounting Charges	2.347	1.788	2.097
		Account Writing Charges	0.018	0.018	0.018
		Conveyance Expenses	0.011	0.009	0.007
		Travelling Expenses	0.018	0.014	0.052
		Other Expenses	0.344	0.425	0.696
		TOTAL	92.555	68.929	169.926
	NET PROFIT/ (LOSS)		0.707	0.278	0.374

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.76	0.41	0.22
Return on Total Assets (PBT/Total Assets}	(%)	1.30	0.32	0.39
Return on Investment (ROI) (PBT/Networth)		0.27	0.13	0.13
Debt Equity Ratio (Total Liability/Networth)		9.18	0.00	0.22
Current Ratio (Current Asset/Current Liability)		2.00	1.03	1.04

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Proprietor Capital	2.782	2.197	2.653
Reserves & Surplus	0.000	0.000	0.000
Net worth	2.782	2.197	2.653
Secured Loans		0.000
Unsecured Loans		0.000
Total borrowings	0.601	0.000	24.351
Debt/Equity ratio	0.216	0.000	9.179

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	170.299	68.526	93.160
		(59.761)	35.948

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	170.299	68.526	93.160
Profit	0.374	0.278	0.707
	0.22%	0.41%	0.76%

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	Yes
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	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
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	No
18	Major suppliers	No
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	Yes
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	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

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. 66.55
UK Pound	1	Rs. 100.64
Euro	1	Rs. 70.70

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KAS
Report Prepared by :	IND

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	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.