MIRA INFORM REPORT

Report No. :	341024.2
Report Date :	18.09.2015

IDENTIFICATION DETAILS

Name :	SOUND AND LIGHT PROFESSIONALS
Registered Office :	27-B, Sidhpura Industrial Estate, S.V. Road, Goregaon-West, Mumbai – 400062, Maharashtra
Tel. No.:	91-22-28712579
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	1999
Capital Investment / Paid-up Capital :	Rs.66.160 Million
IEC No.:	0301012067
TIN No.:	Not Divulged
PAN No.: [Permanent Account No.]	AEWPM3317A
Legal Form :	Sole Proprietary Concern
Line of Business :	Providing audio and sound equipment on rental basis.
No. of Employees :	40 (Approximately) [In Factory= 35 / In Office= 5]

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 190000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established proprietary concern started in the in the year 1999 having satisfactory track record. The concern is progressing well. General financial position of the concern is sound and healthy. Further, the rating also takes into consideration long track record of business operation and experience of the promoter. Trade relations are reported as fair. Business is active. Payment terms are reported as usually correct. The concern can considered normal for business dealings 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.

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. Manish Mavani
Designation :	Proprietor
Contact No.:	91-9820134780
Name :	Mr. Rajanikant Dusa
Designation :	Accounts Manager
Contact No.:	91-9320617827

LOCATIONS

Registered Office :	27-B, Sidhpura Industrial Estate, S.V. Road, Goregaon-West, Mumbai – 400062, Maharashtra, India
Tel. No.:	91-22-28712579
Mobile No.:	91-9820134780 (Mr. Manish) 91-9320617827 (Mr. Rajanikant)
Fax No.:	Not Available
E-Mail :	manish@snlpro.in
Website :	www.snlpro.in
Area :	420 sq. ft.
Location :	Owned
Warehouse :	59BC, Charkop Government Industrial Estate, Kandivali (West), Mumbai – 400067, Maharashtra, India
Tel. No.:	91-22-28688375 / 76
Area :	4500 sq. ft.
Location :	Rented

SOLE PROPRIETOR

Name :	Mr. Manish Mavani
Designation :	Proprietor
Address :	203, B Wing, Gagandeep Co-operative Housing Society, Gulmohar Road No.1, JVPD Scheme, Vileparle-West, Mumbai – 400049, Maharashtra, India
Date of Birth/ Age :	09.10.1977
Qualification :	Graduate
Experience :	16 Years

BUSINESS DETAILS

Line of Business :	Providing audio and sound equipment on rental basis.
Products :	Audio Equipment Sound Equipment
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	TOUR RIG MOTORS Flamaniac Machine CO2 Jets (Special FX) Confetti / Streamer Machine (Special FX)
Countries :	France Netherland China Spain
Terms :
Selling :	L/C, Cash, Credit
Purchasing :	L/C, Cash, Credit

GENERAL INFORMATION

Suppliers :

Company Name :	Actionlift
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

• Magicfx
• Confettishots

Customers :

End Users, Others

Company Name :	Hexagon
Name of the Person :	Mr. Rahul Soni (Director)
Contact No.:	91-9820133946
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Company Name :	Consumer Links Marketing Private Limited
Name of the Person :	Mr. Sandeep (Director)
Contact No.:	91-9821148844

Company Name :	Orangefish Entertainment Private Limited
Name of the Person :	Mr. Tanush Joseph (Director)
Contact No.:	66022700

Company Name :	Scoop Brand Holding Private Limited
Name of the Person :	Mr. Abhishek Mehta (Director)
Contact No.:	91- 9810070653

No. of Employees :

40 (Approximately) [In Factory= 35 / In Office= 5]

Bankers :

Banker Name :	City Bank
Branch :	Time Square, Andheri (West), 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) :	TL= Rs.23.000 million
Account Operation :	Not Divulged
Remark :	Not Divulged

· HDFC Bank Limited, Shop No.G1 and G2, Arihant Apartment, Plot No.2, Jawahar Nagar, S.V. Road, Mumbai – 400104, Maharashtra, India

Auditors :
Name :	Bipin Rajadyakshya and Associates Chartered Accountants
Address :	2, “Shivam”, Sant Janabai Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India
Tel. No.:	91-22-26135056 / 26128857
E-mail :	bipinrj2596@yahoo.co.in
Collaborators :	Not Divulged
Membership :	Not Divulged
Sister Concern :	--

CAPITAL STRUCTURE

AS ON 31.03.2015

Particulars	Rs. In Million
Professional	(0.263)
Sound and light	66.423
TOTAL	66.160

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Capital Account		66.160	58.883
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		66.160	58.883
LOAN FUNDS
1] Secured Loans		38.662	30.939
2] Unsecured Loans		2.405	1.905
TOTAL BORROWING		41.067	32.844
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		107.227	91.727
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		101.038	102.427
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	4.475	4.476
	Sundry Debtors	16.529	18.129
	Cash & Bank Balances	4.344	2.562
	Other Current Assets	10.633	5.919
	Loans & Advances	3.970	4.427
Total Current Assets		39.951	35.513
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	31.301	44.287
	Other Current Liabilities	1.511	1.105
	Provisions	0.950	0.821
Total Current Liabilities		33.762	46.213
Net Current Assets		6.189	(10.700)
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		107.227	91.727

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	92.618	102.272
		Other Income	0.566	1.191
		TOTAL	93.184	103.463
Less	EXPENSES
		Cost of goods sold	0.000	0.847
		Cargo charges	0.412	0.444
		Hiring charges paid	15.277	24.227
		Discounts allowed	0.000	0.098
		Show expenses	10.988	12.089
		Interest & finance charges	4.170	2.148
		Staff salaries & allowances	10.122	7.258
		Office & administrative expenses	7.870	7.435
		Freight, carriage & related expenses	3.990	5.629
		Sales promotion	0.481	0.492
		Repairs and maintenance	1.786	2.606
		Professional fees	1.943	2.087
		Bad debts	1.168	0.000
		VAT paid	1.925	0.000
		Consultancy charges	0.000	0.100
		TOTAL	60.132	65.460
	PROFIT/(LOSS) BEFORE DEPRECIATION		33.052	38.003
Less	DEPRECIATION		22.917	23.962
	NET PROFIT		10.135	14.041

Particulars	31.03.2015
Sales Turnover (Approximately)	120.000

Expected Sales (2015-2016): Rs.150.000 million

The above information has been parted by Mr. Rajanikant / Mr. Manish

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	(%)	10.94	13.73
Return on Total Assets (PBT/Total Assets)	(%)	7.19	10.18
Return on Investment (ROI) (PBT/Networth)		0.15	0.24
Debt Equity Ratio (Total Debt /Networth)		0.62	0.56
Current Ratio (Current Asset/Current Liability)		1.18	0.77

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Capital Account	58.883	66.160
Reserves & Surplus	0.000	0.000
Net worth	58.883	66.160
Secured Loans	30.939	38.662
Unsecured Loans	1.905	2.405
Total borrowings	32.844	41.067
Debt/Equity ratio	0.558	0.621

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Income	102.272	92.618
		(9.440)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Income	102.272	92.618
Profit	14.041	10.135
	13.73%	10.94%

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	No
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	No
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	No
26	Turnover of firm for last three 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	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.66.50
UK Pound	1	Rs.102.0
Euro	1	Rs.75.03

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	DIV
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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.