MIRA INFORM REPORT

Report No. :	345776.2
Report Date :	20.10.2015

IDENTIFICATION DETAILS

Name :	SHRUTI IMPEX
Registered Office :	11/6/465 Nampally Market, Hyderabad-500001, Telangana
Tel. No.:	91-40-23326966
Country :	India
Financials (as on) :	April to June 2015
Date of Establishment :	27.04.2000
Capital Investment :	Rs. 3.769 Million
IEC No.:	0900001704
TIN No.:	36181488912
PAN No.: [Permanent Account No.]	ACBPR3983L
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader, Importer and Distributor of Plastic Granules and Rice.
No. of Employees :	07 (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 :	Unknown
Litigation :	Clear
Comments :	Shruti Impex is a proprietorship concern established in the year 2000. It is engaged into trading and importing of plastic granules. Mr. Harish K. Raney, Manager of the concern has provided information of the concern to us. Rating is constrained on account of concern’s unavailability of financial information to evaluate risk associate with the concern. As per provisional financials for the period from April to June 2015 the concern has achieved sales turnover of Rs. 141.2 million and profit of Rs. 2.798 million, has been provided for you mere reference which has not been verified. However, trade relations are fair. Business is active. Payment terms are reported to be unknown. In view of aforesaid, the concern can be considered for business dealing 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

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. Harish K Raney
Designation :	Manager
Contact No.:	91-9849014332
Date :	16.10.2015

LOCATIONS

Registered/ Head Office :	11/6/465 Nampally Market, Hyderabad-500001, Telangana, India
Tel. No.:	91-40-23326966
Mobile No.:	91-9849014332 (Mr. Harish K Raney)
Fax No.:	Not Available
E-Mail :	shrutiimpexx@gmail.com
Area :	850 Sq. Ft
Location :	Owned

SOLE PROPRIETOR

Name :	Mrs. Kavita Harish Raney
Designation :	Proprietor
Address :	302, Sowmya Aaprtments, Red Hills, Hyderabad-500004, Telangana, India
Date of Birth/Age :	24.06.1968
Qualification :	BSc
Experience :	14 Years
Voter ID No.:	WRH1298968

KEY EXECUTIVES

Name :	Mr. Harish K Raney
Designation :	Manager

BUSINESS DETAILS

Line of Business :

Trader, Importer and Distributor of Plastic Granules and Rice.

Products :

ITC Code No.	Product Descriptions
39211900	Other Plates, Sheets, Film, Foil and Strip, of Plastics-Cellular: of Other Plastics

Brand Names :

--

Agencies Held :

--

Exports :

Products :

Rice

Countries :

Ghana

Trade References :

· Golden Trust Enterprises

· Nimah Accra Ghana

Imports :

Products :

Plastic Granules

Countries :

· KSA, Saudi Arabia

· Lithuania, Europe

Terms :

Selling :

Cash and L/C

Purchasing :

Others (T/T)

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

· SABIC Polymers, Saudi Arabia

· Saudi Polymers, Saudi Arabia

· Petro Rabiq, Saudi Arabia

· Naftan Polymers, Rusia

Customers :

Wholesalers and End Users

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

· Jeevan Polymers, Hyderabad

· Bhavani Polymers, Hyderabad

· Heterogems, Hyderabad

· Petrogen Polymers

· Chetan Plastics

· Siddharth Polymers

· Pavani Polymers

· Tirumala Plastics

· KKR Polymers

No. of Employees :

07 (Approximately)

Bankers :

Bank Name:	Dena Bank
Branch:	Nampally, Hyderabad, Telangana, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	053411001831
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: Not Divulged

· Central Bank of India

Nampally, Hyderabad, Telangana, India

Account Number: 3420620505

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Azghar Hussain and Company Chartered Accountants
Memberships :	--
Collaborators :	--
Sister Concerns :	· Arti Medical Address: Humayun Nagar, Hyderabad, Telangana, India Line of Business: Sale of Pharmaceutical Items · Asha Medical Hall Address: Nampally, Hyderabad, Telangana, India Line of Business: Retail Pharmacy

CAPITAL STRUCTURE

AS ON JUNE 2015

Capital Investment :
Owned :	Rs. 3.769 Million
Borrowed :	--
Total :	Rs. 3.769 Million

FINANCIAL DATA

[all figures are in Rupees Million]

PARTICULARS	31.03.2016 Projected
Sales Turnover [Approximately]	300.000
Net Profit	18.000

The above information has been parted by Mr. Harish K Raney (Manager)

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		April to June 2015
SHAREHOLDERS FUNDS
1] Partner Capital		3.679
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		3.679
LOAN FUNDS
1] Secured Loans		20.000
2] Unsecured Loans		3.676
TOTAL BORROWING		23.676
DEFERRED TAX LIABILITIES		0.000
TOTAL		27.355
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.345
Capital work-in-progress		0.000
INVESTMENT AND DEPOSITS		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.450
	Sundry Debtors	22.200
	Cash & Bank Balances	2.360
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		27.010
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities (Outstanding Liabilities)	0.000
	Provisions	0.000
Total Current Liabilities		0.000
Net Current Assets		27.010
MISCELLANEOUS EXPENSES		0.000
TOTAL		27.355

PROFIT & LOSS ACCOUNT

	PARTICULARS		April to June 2015
	SALES
		Sales	138.754
		Other Income	0.000
		TOTAL	138.754
Less	EXPENSES
		Staff Salaries	0.748
		Bonus	0.120
		Stationery	0.022
		Computer Expenses	0.027
		Conveyance Expenses	0.056
		News Paper	0.001
		Transportation	0.298
		Import Duty	15.470
		Purchases	120.965
		Closing Stock	(2.450)
		Other Expenses	0.698
		TOTAL	135.955
	NET PROFIT/ (LOSS)		2.799

KEY RATIOS

PARTICULARS		April to June 2015
Net Profit Margin (PAT / Sales)	(%)	2.02
Return on Total Assets (PBT/Total Assets}	(%)	10.23
Return on Investment (ROI) (PBT/Networth)		0.76
Debt Equity Ratio (Total Liability/Networth)		6.44
Current Ratio (Current Asset/Current Liability)		7.35

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	Yes
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	Yes
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
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 months	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last two months	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 records 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. 64.82
UK Pound	1	Rs. 100.12
Euro	1	Rs. 73.75

INFORMATION DETAILS

Analysis Done by :	KAS
Report Prepared by :	IND

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	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--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.