MIRA INFORM REPORT

Report No. :	343392
Report Date :	05.10.2015

IDENTIFICATION DETAILS

Name :	VORTEX MARKETING PRIVATE LIMITED
Registered Office :	22, Ravi Nagar, Nagpur – 400010, Maharashtra
Tel. No.:	91-712-6417335
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.10.2003
Com. Reg. No.:	11-142838
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U51909MH2003PTC142838
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCV8783H
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and servicer provider of CCTV Camera, Fire Alarm System and excess control systems.
No. of Employees :	5 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2003 having moderate track record. As per Registrar of Companies the status of the company is shown as “Dormant”. Management of the company has not filed its financials since its incorporation. However, Mr. Mayur Mahesh Ghotekar (Director) provided information and also confirmed that the company is very much active. He further also provided audited financials for the year 2012-2013 and 2013-2014. As per the available financial of 2014, the company seems to be small company turnover and profit achieved by the company is modest. Their trade relations are fair. Business is active. Payments are reported as slow but correct. The company can be considered for business dealings with some 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 – 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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Mayur Mahesh Ghotekar
Designation :	Director
Contact No.:	91-9923216372
Date :	29.09.2015

LOCATIONS

Registered Office :	22, Ravi Nagar, Nagpur – 400010, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9923216372 (Mr. Mayur)
Fax No.:	Not Available
E-Mail :	contact@vmplindia.com
Website :	www.vmplindia.com
Head Office :	Flat No.01, Plot No.14, Ninad, co-opertaive Housing Society, NIT Layout, Swawalambi Nagar, Nagpur-440022, Maharashtra, India
Tel. No.:	91-712-6417335
Location :	Rented

DIRECTORS

Name :	Richik Kalyankumar Ganguly
Designation :	Director
Address :	16/2, Type/V, of Bhandara Estate, Jawaharnagar, Bhandara, Maharashtra, India
Date of Birth/Age :	16.05.1979
Qualification :	B.E.
Experience :	12 Years
Name :	Mr. Mayur Mahesh Ghotekar
Designation :	Director
Date of Birth/Age :	01.03.1977
Qualification :	B.E.
Name :	Debashish Sachidulal Mukherjee
Designation :	Director
Address :	C/4, Liberty Enclaves, Malvianagar, Khamala Nagpur-440023, Maharashtra, India
Date of Birth/Age :	07.02.1978
Qualification :	B.E.
Experience :	12 Years
Name :	Mrs. Pallavi Prasad Dhatarak
Designation :	Director
Address :	22, Behind Ambazari Police Station, Ravinagar, Nagpur, Maharashtra, India
Date of Birth/Age :	41 Years
Qualification :	MSC
Experience :	15 Years

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Not Available

BUSINESS DETAILS

Line of Business :	Trader and servicer provider of CCTV Camera, Fire Alarm System and excess control systems.
Products :	· CCTV · Fire Alarm system
Brand Names :	· Sony · Honeywell · Samsung
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Credit (30 Days)
Purchasing :	L/C, Credit (30 Days) and Advance Payment

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Cable Connector, Nagpur
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

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

No. of Employees :

5 (Approximately)

Bankers :

Bank Name	IDBI Bank
Branch	188, Ashirwad, Beside Ranapratap Police Station, Trimurti Nagar, Nagpur, Maharashtra, India
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

Banking Relations :	--
Auditors :
Name :	Raman Nikar and Company Chartered Accountants
Address :	Wani, Maharashtra, India
Memberships :	--
Collaborators :	--
Sister concern :	Vignesh Enterprises

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 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	0.100	0.100	0.100
(b) Reserves & Surplus	0.256	0.232	0.158
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.108	0.108	0.108
Total Shareholders’ Funds (1) + (2)	0.464	0.440	0.366
(3) Non-Current Liabilities
(a) long-term borrowings	0.358	0.408	0.118
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.358	0.408	0.118
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.352	0.883	0.146
(c) Other current liabilities	0.341	0.505	0.463
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	0.693	1.388	0.609
TOTAL	1.515	2.236	1.093
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.048	0.060	0.076
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.035	0.040	0.036
Total Non-Current Assets	0.083	0.100	0.112
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.171	0.201	0.125
(c) Trade receivables	0.851	1.731	0.606
(d) Cash and cash equivalents	0.292	0.153	0.250
(e) Short-term loans and advances	0.118	0.051	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1.432	2.136	0.981
TOTAL	1.515	2.236	1.093

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	3.175	3.793	3.076
		Other Income	0.000	0.000	0.000
		TOTAL (A)	3.175	3.793	3.076
Less	EXPENSES
		Cost of Materials Consumed	0.000	0.000	0.000
		Purchases of Stock-in-Trade	1.776	2.391	1.645
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.030	(0.076)	0.005
		Employees benefits expense	0.363	0.226	0.368
		Other expenses	0.970	1.161	0.963
		TOTAL (B)	3.139	3.702	2.981
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.036	0.091	0.095
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.036	0.091	0.095
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.012	0.016	0.022
	PROFIT BEFORE TAX (E-F) (G)		0.024	0.075	0.073
Less	TAX (H)		0.000	0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		0.024	0.075	0.073
	Earnings Per Share (Rs.)		2.40	7.50	7.30

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.76	1.98	2.37
Operating Profit Margin (PBIDT/Sales)	(%)	1.13	2.40	3.09
Return on Total Assets (PBT/Total Assets}	(%)	1.58	3.35	6.68
Return on Investment (ROI) (PBT/Networth)		0.05	0.17	0.20
Debt Equity Ratio (Total Debt /Networth)		0.77	0.93	0.32
Current Ratio (Current Asset/Current Liability)		2.07	1.54	1.61

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	0.100	0.100	0.100
Reserves & Surplus	0.158	0.232	0.256
Share Application money pending allotment	0.108	0.108	0.108
Net worth	0.366	0.440	0.464
long-term borrowings	0.118	0.408	0.358
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.118	0.408	0.358
Debt/Equity ratio	0.322	0.927	0.772

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	3.076	3.793	3.175
		23.309	(16.293)

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	3.076	3.793	3.175
Profit	0.073	0.075	0.024
	2.37%	1.98%	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)
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	No
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

INDEX OF CHARGES NO CHARGES EXIST FOR COMPANY

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.65.55
UK Pound	1	Rs.99.17
Euro	1	Rs.73.07

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	DIV
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		27

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.