MIRA INFORM REPORT

Report No. :	344881
Report Date :	15.10.2015

IDENTIFICATION DETAILS

Name :	JAYA ELECTRICALS
Registered Office :	Plot No.1 C, R-Square, Addagutta Co-Operative Society, Opposite JNTU, Kukatpally, Hyderabad – 500072, Telangana
Tel. No.:	91-40-33061905
Country :	India
Financials (as on) :	31.03.2014
Year of establishment :	2003
Capital Investment / Paid-up Capital :	Rs. 8.713 Million
IEC No.:	Not Available
TIN 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 electrical products, like Fans, Switches, Wires, Switchgears, Cables.
No. of Employees :	7 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 24000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a proprietary concern established in the year 2003. It has a satisfactory track record as a trader of electrical products such as fans, switches, wires, switchgears, cables etc. The rating takes into consideration sound financial risk profile of the concern marked by adequate capital base and comfortable debt level in FY14. It has reported decent growth in its sales turnover along with fair profit margin in the year under consideration. However, there seems unfavourable gap between debtors and creditors in FY14, which may hamper the liquidity condition of the concern. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. In view of aforesaid, the concern can be considered for normal business dealings 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

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. Shankar Reddy
Designation :	Account Manager
Contact No.:	91-40-64610999
Date :	12.10.2015

LOCATIONS

Registered Office :	Plot No.1 C, R-Square, Addagutta Co-Operative Society, Opposite JNTU, Kukatpally, Hyderabad – 500072, Telangana, India
Tel. No.:	91-40-33061905/64610999
Mobile No.:	91-9397365999 (Mr. T Sudhaker)
Fax No.:	91-40-6545999/23157999
E-Mail :	jayaelectricalshrd@gmail.com jayaelectricalshyd@yahoo.com
Location:	Owned
Locality:	Industrial

SOLE PROPRIETOR

Name :	Mr. T Sudhaker
Designation :	Proprietor

KEY EXECUTIVES

Name :	Mr. Shankar Reddy
Designation :	Account Manager

BUSINESS DETAILS

Line of Business :	Trader of electrical products, like Fans, Switches, Wires, Switchgears, Cables.
Products :	Fans Switches Wires Switchgears Cables
Brand Names :	Not Available
Agencies Held :	Havells India Limited Bajaj Electricals Limited Anchor Electricals Private Limited Roma Witches
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit (30,60,90 Days)
Purchasing :	Cash and Credit (30,60,90 Days)

GENERAL INFORMATION

Suppliers :

Reference :	Anchor Electrical Limited, Hyderabad, Telangana, India
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 :

End Users and OEMS

• Sai Pranita Technologies, Hyderabad, Telangana, India

Reference :	Prithvi Aditya Infratech, Hyderabad, Telangana, India
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 :

7 (Approximately)

Bankers :

Banker Name	Indian Overseas Bank
Branch Address	Kukatpally Branch, Hyderabad, Telangana, India
Person Name (With Designation)	Not Divulged
Contact Number	91-40-23468810 (Number Ringing)
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)	Overdraft Facilities: Rs. 9.500 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	K Naveen Kumar Chartered Accountant
Address :	Hyderabad, Telangana, India
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	JAYA ELECTRICALS PRIVATE LIMITED Address: Plot No.1 C, R-Square, Addagutta Co-Operative Society, Opposite JNTU, Kukatpally, Hyderabad – 500072, Telangana, India Line of Business: Trader of electrical products. Like Fans, Switches, Wires, Switchgears, Cables.

CAPITAL STRUCTURE

AS ON 31.03.2014

Capital Accounts	Rs In Million 31.03.2014
Capital	7.143
Net profit for the year	1.570
TOTAL	8.713

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Share Capital		8.713	5.694
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		8.713	5.694
LOAN FUNDS
Secured Loans		0.140	0.000
Unsecured loans		0.000	0.832
Bank OD A/C		9.918	5.821
Margadarsi Chit Fund Private Limited		0.709	0.000
Car Lona		0.000	0.140
TOTAL BORROWING		10.767	6.793
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		19.480	12.487
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.468	0.525
Capital work-in-progress		0.000	0.000
INVESTMENT		0.332	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	39.570	26.004
	Sundry Debtors	5.145	4.941
	Cash & Bank Balances	0.013	0.024
	Other Current Assets	0.000	0.003
	Loans & Advances	0.402	0.000
Total Current Assets		45.130	30.972
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	26.391	18.845
	Other Current Liabilities	0.000	0.000
	Provisions	0.059	0.165
Total Current Liabilities		26.450	19.010
Net Current Assets		18.680	11.962
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		19.480	12.487

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	50.169	49.941
	Other Income	0.362	0.063
	TOTAL	50.531	50.004
Less	EXPENSES
	Cost of Goods Sold	46.954	46.589
	Advertisement and Promotion Expense	0.085	0.000
	Audit Fee	0.015	0.000
	Bank Charges	0.011	0.092
	Computer Maintenance	0.001	0.000
	Courier Charges	0.000	0.000
	Discounts	0.014	0.000
	Electricity Expense	0.041	0.021
	Finance Charges	0.204	0.000
	General Expenses	0.172	0.000
	Insurance Premium	0.000	0.501
	Rates ad Taxes	0.000	0.138
	Rent Expenses	0.144	0.165
	Insurance - Stock	0.043	0.000
	Interest Expenses	0.000	0.819
	Interest on OD	0.836	0.000
	Internet Charges	0.012	0.000
	Office Maintenance Charges	0.008	0.000
	Packing Material	0.001	0.000
	Petrol Charges	0.008	0.000
	Printing and Stationary	0.009	0.000
	Registration Charges	0.005	0.000
	Repairs and Maintenance	0.003	0.000
	Salaries	0.279	0.219
	Sales Taxes	0.000	0.147
	Staff welfare	0.002	0.000
	Stationary Expense	0.001	0.000
	Telephone Charges	0.023	0.022
	Transport Charges	0.006	0.000
	Vehicle Maintenance Expenses	0.002	0.000
	TOTAL	48.879	48.713
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1.652	1.291
Less/ Add	DEPRECIATION/ AMORTISATION	0.082	0.120
	NET PROFIT	1.570	1.171

Particulars	31.03.2015
Sales Turnover (Approximately)	60.000

The above information has been parted by Mr. Shankar Reddy

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

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	3.13	2.34
Return on Total Assets (PBT/Total Assets}	(%)	3.44	3.72
Return on Investment (ROI) (PBT/Networth)		0.18	0.21
Debt Equity Ratio (Total Debt /Networth)		1.24	1.19
Current Ratio (Current Asset/Current Liability)		1.71	1.63

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	5.694	8.713
Reserves & Surplus	0.000	0.000
Net worth	5.694	8.713
Total borrowings	6.793	10.767
Total borrowings	6.793	10.767
Debt/Equity ratio	1.193	1.236

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	49.941	50.169
		0.457

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	49.941	50.169
Profit	1.171	1.570
	2.34%	3.13%

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	No
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 two years	No
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.65.11
UK Pound	1	Rs.99.50
Euro	1	Rs.74.24

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KIN
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.