MIRA INFORM REPORT

Report No. :	343394
Report Date :	06.10.2015

IDENTIFICATION DETAILS

Name :	VIGNESH ENTERPRISES
Registered Office :	Plot No. 140, Chattrapati Nagar, Wardha Road, Nagpur – 440015, Maharashtra
Mobile No.:	91-9890966090 (Richika Ganguli)
Country :	India
Financials (as on) :	31.03.2015
Year of Establishment :	2013
Capital Investment / Paid-up Capital :	Rs.0.157 Million
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Subject is engaged into providing security solutions.
No. of Employees :	4 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Small concern
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small partnership concern started in 2013. It is engaged in providing security solutions. Its scale of activates is limited. Turnover achieved by the concern is modest. The rating also takes into consideration limited track record of its business operations. Their trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The concern 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 :	Richika Ganguli
Designation :	Partner
Contact No.:	91-9890966090
Date :	03.10.2015

LOCATIONS

Registered Office :	Plot No. 140, Chattrapati Nagar, Wardha Road, Nagpur – 440015, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9890966090 (Richika Ganguli) 91-9923216372 (Mr. Mayur)
Fax No.:	Not Available
E-Mail :	contact@vmplindia.com mghotekar@vmplindia.com
Website :	www.vmplindia.com
Location:	Owned
Locality :	Commercial

PARTNERS

Name :	Richika Ganguli
Designation :	Partner
Name :	Mr. Mayur Gotmare
Designation :	Partner
Name :	Mr. Nikhil Pathak
Designation :	Partner

BUSINESS DETAILS

Line of Business :	Subject is engaged into providing security solutions.
Services :	Security solutions
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit (30 days / 60 days 90 days)
Purchasing :	Cash and Credit (30 days / 60 days 90 days)

GENERAL INFORMATION

Suppliers :

Reference :	Star Engineers, 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 :	Techosoft Solutions
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 :

4 (Approximately)

Bankers :

Bank Name	Vijaya Bank
Branch	Bajaj 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)	Cash Credit : Rs.0.045 Million OD : Rs.0.024 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Bank Name	IDBI Bank Limited
Branch	Trimurti Nagar, Nagpur, Maharashtra, India
Person Name (With Designation)	Mr. Santosh Dubey (Relationship Manager) Mr. Kundan Ramteke (Branch Manager)
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)	No facilities
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Vijaya Bank A/C – 0015	0.018	0.017
Total	0.018	0.017

Auditors :
Name :	Raman Nimkar and Company Chartered Accountants
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries (as confirmed by management) :	Vortex Marketing Private Limited Address : Plot No 140, Chattrapati Nagar, Wardha Road, Nagpur -440015, Maharashtra, India

CAPITAL STRUCTURE

PARTNERS’ CAPITAL ACCOUNT

AS ON 31.03.2015

(RS. IN MILLION)

Particulars	Amount	Amount
Mayor Gotmare
Add : Profit for the year	0.028
Add: Salary for the year	0.005
	0.041
Less : Withdrawals	0.074
	0.025	0.049
Nikhil Pathak
Add : Profit for the year	0.013
Add: Salary for the year	0.005
	0.040
Less : Withdrawals	0.058
	0.025	0.033
Richika Ganguli
Add : Profit for the year	0.056
Add: Salary for the year	0.005
	0.039
Less : Withdrawals	0.100
	0.025	0.075
Total		0.157

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015	31.03.2014
1] Partners Capital Account		0.157	0.097
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.157	0.097
LOAN FUNDS
1] Secured Loans		0.018	0.017
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.018	0.017
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		0.175	0.114
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.010	0.010
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.047	0.032
	Sundry Debtors	0.215	0.195
	Cash & Bank Balances	0.033	0.010
	Other Current Assets	0.000	0.000
	Loans and Advances and Deposits	0.025	0.025
Total Current Assets		0.320	0.262
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.138	0.125
	Other Current Liabilities	0.000	0.000
	Provisions	0.017	0.033
Total Current Liabilities		0.155	0.158
Net Current Assets		0.165	0.104
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		0.175	0.114

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014
	SALES
	Income	0.871	0.527
	Other Income	0.000	0.320
	TOTAL	0.871	0.847
Less	EXPENSES
	Cost of Goods Sold	0.305	0.241
	Bank and Interest charges	0.022	0.024
	Electricity Expenses	0.020	0.018
	Office Expenses	0.091	0.147
	Misc Expenses	0.025	0.023
	Labour Staff	0.095	0.124
	Salary to staff	0.096	0.079
	Salary to partner	0.130	0.120
	Printing and Stationery	0.012	0.011
	Telephone Expenses	0.028	0.004
	Travelling Expenses	0.024	0.023
	Professional Charges	0.008	0.008
	Vat Paid	0.000	0.005
	Advertisement Expenses	0.000	0.008
	Computer Expenses	0.000	0.006
	TOTAL	0.856	0.841
Less	NET PROFIT/ (LOSS)	0.015	0.006

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014
Net Profit Margin (PAT / Sales)	(%)	1.72	1.14
Return on Total Assets (PBT/Total Assets}	(%)	4.55	2.21
Return on Investment (ROI) (PBT/Networth)		0.10	0.06
Debt Equity Ratio (Total Debt /Networth)		0.11	0.18
Current Ratio (Current Asset/Current Liability)		2.06	1.66

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Partners’ Capital Account	0.097	0.157
Reserves & Surplus	0.000	0.000
Net worth	0.097	0.157
Secured Loans	0.017	0.018
Unsecured Loans	0.000	0.000
Total borrowings	0.017	0.018
Debt/Equity ratio	0.175	0.115

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Sales	0.527	0.871
		65.275

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Sales	0.527	0.871
Profit	0.006	0.015
	1.14%	1.72%

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	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	Yes
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last two 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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

PROJECTED BALANCE SHEET

SOURCES OF FUNDS		31.03.2016
1] Partner’s Capital Account		0.259
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.259
LOAN FUNDS
1] Secured Loans		0.100
2] Unsecured Loans		0.000
TOTAL BORROWING		0.100
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.359
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.010
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.120
	Sundry Debtors	0.365
	Cash & Bank Balances	0.014
	Other Current Assets	0.000
	Loans and Advances and Deposits	0.025
Total Current Assets		0.524
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.175
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.175
Net Current Assets		0.349
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.359

PROJECTED PROFIT AND LOSS ACCOUNT

	PARTICULARS	31.03.2016
	SALES
	Income	1.500
	Other Income	0.000
	TOTAL	1.500
Less	EXPENSES
	Cost of Goods Sold	0.797
	bank and Interest charges	0.040
	Electricity Expenses	0.024
	Office Expenses	0.100
	Misc. Expenses	0.030
	Labour Staff	0.110
	Salary to staff	0.120
	Salary to partner	0.185
	Printing and Stationery	0.012
	Telephone Expenses	0.030
	Travelling Expenses	0.030
	Professional Charges	0.000
	Vat Paid	0.000
	Advertisement Expenses	0.000
	Computer Expenses	0.000
	TOTAL	1.478
	NET PROFIT/ (LOSS)	0.022

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.65.29
UK Pound	1	Rs.99.31
Euro	1	Rs.73.39

INFORMATION DETAILS

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

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	2
--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		26

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.