MIRA INFORM REPORT

Report No. :	347414
Report Date :	31.10.2015

IDENTIFICATION DETAILS

Name :	STEP COMPUTERS PRIVATE LIMITED
Registered Office :	8/806, Vanrai Colony, Western Express Highway, Goregaon (East), Opposite Nirlon, Mumbai – 400063, Maharashtra
Tel. No.:	91-22-26865857
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.02.2011
Com. Reg. No.:	11-213148
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U72300MH2011PTC213148
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMS75610D
PAN No.: [Permanent Account No.]	AAPCS4035D
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Computer Peripherals.
No. of Employees :	18 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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 incorporated on 7^th February, 2011. It is engaged into business of trading of computer peripherals. It has satisfactory track record. The company has recorded declined in its profit as well as ash and cash equivalents as compared to previous year. However, liquidity of the company is fair marked by favorable gap between trade receivable and payables. It possesses an acceptable financial profile marked by modest networth base. Trade relations are reported to be fair. Business is active. Payment are reported to be slow but correct. The company can be considered normal for business dealing at 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.

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. Ritesh Paliwal
Designation :	Director
Contact No.:	91-7738363070
Date :	28.10.2015

LOCATIONS

Registered Office :	8/806, Vanrai Colony, Western Express Highway, Goregaon (East), Opposite Nirlon, Mumbai – 400063, Maharashtra, India
Tel. No.:	91-22-26865857
Mobile No.:	91-7738363070 (Mr. Ritesh)
Fax No.:	Not Available
E-Mail :	stepcomp@yahoo.com ritesh@stepcomp.com

DIRECTORS

AS ON 29.09.2014

Name :	Mr. Ritesh Ramesh Paliwal
Designation :	Director
Address :	8/806, Vanrai Colony, Western Express Highway, Goregaon (East), Opposite Nirlon, Mumbai – 400063, Maharashtra, India
Date of Birth/Age :	06.10.1970
Date of Appointment :	07.02.2011
DIN No.:	03066934
Name :	Mrs. Ranjana Ritesh Paliwal
Designation :	Director
Address :	807, Bhad CTS N 589/258 PT, Building No. 8, Vidyapith, Goregaon (East), Mumbai – 400063, Maharashtra, India
Date of Birth/Age :	05.03.1980
Date of Appointment :	07.02.2011
DIN No.:	03175728

MAJOR SHAREHOLDERS

AS ON 29.09.2014

Names of Shareholders	No. of Shares	% of Holding
Ritesh Ramesh Paliwal	76000	76.00
Ranjana Ritesh Paliwal	24000	24.00
Total	100000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Trader of Computer Peripherals.
Products :	Computer Peripherals
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Not Divulged
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 :

Company Name :	Not Divulged
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 :

18 (Approximately)

Bankers :

Banker Name :	State Bank of India
Branch :	Goregaon, Mumbai, 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 :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

• ICICI Bank Limited, Near Dinsoshi Bus Stop, Goregaon (West), Mumbai – 400063, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Mahendra and Mahendra Finance Limited (Loan is secured by way of hypothecation of Tempo / Lorries)	0.579	0.801
Total	0.579	0.801

Auditors :
Name :	SSN and Company Chartered Accountants
Address :	1A, Ramchandra Niwas, Sector -12A, Koparkhairne, Navi Mumbai – 400709, Maharashtra, India
PAN No.:	ACHFS5500L
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 29.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 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	1.000	1.000	1.000
(b) Reserves & Surplus	10.403	7.038	2.277
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	21.815	25.465	13.665
Total Shareholders’ Funds (1) + (2)	33.218	33.503	16.942
(3) Non-Current Liabilities
(a) long-term borrowings	3.314	4.550	0.000
(b) Deferred tax liabilities (Net)	0.000	0.026	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)	3.314	4.576	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	11.171	21.992	14.946
(c) Other current liabilities	1.576	3.743	2.209
(d) Short-term provisions	1.711	2.147	1.027
Total Current Liabilities (4)	14.458	27.882	18.182
TOTAL	50.990	65.961	35.124
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.994	1.704	0.295
(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)	0.006	0.000	0.002
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.012	0.018	0.024
Total Non-Current Assets	2.012	1.722	0.321
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	10.943	8.480	1.251
(c) Trade receivables	22.472	37.466	29.924
(d) Cash and cash equivalents	10.133	16.520	2.643
(e) Short-term loans and advances	0.000	0.035	0.000
(f) Other current assets	5.430	1.738	0.985
Total Current Assets	48.978	64.239	34.803
TOTAL	50.990	65.961	35.124

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES (Approximately)	100.000	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX	NA	NA	NA
Less	TAX	NA	NA	NA
	PROFIT/(LOSS) AFTER TAX	3.365	4.761	2.277
	Earnings Per Share (Rs.)	33.65	--	--

Particulars	31.03.2015
Sales Turnover (Approximately)	100.000

Expected Sales (2015-2016): Rs.120.000 Million

The above information has been parted by Mr. Ritesh

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 flow from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	0.10	0.14	0.00
Current Ratio (Current Asset/Current Liability)	3.39	2.30	1.91

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	1.000	1.000	1.000
Reserves & Surplus	2.277	7.038	10.403
Share Application money pending allotment	13.665	25.465	21.815
Net worth	16.942	33.503	33.218
long-term borrowings	0.000	4.550	3.314
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	4.550	3.314
Debt/Equity ratio	0.000	0.136	0.100

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	No
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 three 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

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Loans and advances from related parties
Ritesh Paliwal	2.735	0.300
Step Computers	0.000	3.404
Loans and advances - Others
R P Sharma	0.000	0.045
Total	2.735	3.749

NO CHARGES EXIST FOR COMPANY

FIXED ASSETS:

· Motor Lorries

· Computers and Printers

· Mobile

· Nagpur Godown

· Office at Goregaon

· Telephone Instrument

· Furniture and Fixture

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.65.22
UK Pound	1	Rs.99.93
Euro	1	Rs.71.67

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		41

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.