MIRA INFORM REPORT

Report No. :	341791
Report Date :	21.09.2015

IDENTIFICATION DETAILS

Name :	SHRI ABHIJEET SUTAR PACKING WORKS
Registered Office :	A/P Wathar, Vadagaon, Hatkanagale, Kolhapur – 416112, Maharashtra
Mobile No.:	91-8793375886 (Mr. Abhijeet)
Country :	India
Financials (as on) :	31.03.2015
Year of establishment :	October, 2010
Capital Investment / Paid-up Capital :	Rs.0.933 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 :	Manufacturing of Plywood, wooden, Furniture’s etc.
No. of Employees :	7 (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 :	Small
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a proprietorship concern established in the year 2010. It is engaged in the business of manufacturing of plywood, wooden, furniture etc. Rating’s are constrained due to small scale of business operation and high intensive competition in plywood industry. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company 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 :	Mr. Abhijeet Sutar
Designation :	Proprietor
Contact No.:	91-8793375886
Date :	18.09.2015

LOCATIONS

Registered Office/ Factory :	A/P Wathar, Vadagaon, Hatkanagale, Kolhapur – 416112, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-8793375886 (Mr. Abhijeet)
Fax No.:	Not Available
E-Mail :	Shriabhijeet50@gmail.com
Area :	15000 sq. ft.
Location :	Owned
Locality:	Commercial

SOLE PROPRIETOR

Name :	Mr. Abhijeet Sutar
Designation :	Proprietor
Date of Birth/Age :	33 Years
Qualification :	MBA

BUSINESS DETAILS

Line of Business :	Manufacturing of Plywood, wooden, Furniture’s etc.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

GENERAL INFORMATION

Suppliers :

Reference :	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 :

Retailers

Reference :	Gnat Foundry Private Limited
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	IDBI Bank Limited
Branch Address	Shivaji Chowk, Kolhapur, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	91-231-2545207 (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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	G.M Kokatte Chartered Accountant
Address :	Kolhapur, Maharashtra, India
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2015

Capital Investment :
Owned :	Rs.0.933 Million
Borrowed :	--
Total :	Rs.0.933 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015	31.03.2014
SHAREHOLDERS FUNDS
1] Share Capital		0.933	0.784
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.933	0.784
LOAN FUNDS
1] Secured Loans		0.326	0.386
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.326	0.386
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		1.259	1.170
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.909	0.952
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.380	0.536
	Sundry Debtors	0.325	0.131
	Cash & Bank Balances	0.175	0.050
	Other Current Assets	0.000	0.000
	Loans & Advances/ Deposit	0.301	0.105
Total Current Assets		1.181	0.822
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.307	0.204
	Other Current Liabilities	0.257	0.257
	Provisions	0.267	0.143
Total Current Liabilities		0.831	0.604
Net Current Assets		0.350	0.218
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		1.259	1.170

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014
	SALES
	Income	4.201	2.271
	Other Income	0.002	0.006
	TOTAL	4.203	2.277
Less	EXPENSES
	cost of goods sold	1.893	0.663
	transport and Hamali	0.070	0.064
	Wages	0.390	0.305
	Power Charges	0.064	0.058
	Rent	0.000	0.048
	Labor Charges Paid	0.297	0.289
	salaries	0.111	0.070
	office expenses	0.041	0.038
	Postage and Telephone	0.041	0.032
	Printing and Stationery	0.013	0.007
	Account Fees	0.020	0.000
	Consultation Fees	0.005	0.004
	Bank charges	0.104	0.017
	Local Conveyance	0.048	0.040
	Travelling Expenses	0.014	0.012
	Vehicle Maintenance	0.030	0.016
	Bonus Paid	0.091	0.046
	Work Shop Rent	0.060	0.000
	Go down rent	0.036	0.018
	Vat Tax Paid	0.001	0.000
	Advertisement	0.003	0.002
	Sub. And contribution	0.003	0.002
	Supervision Charges	0.153	0.087
	Labor Welfare Expense	0.029	0.006
	Insurance Expenses	0.008	0.002
	TOTAL	3.525	1.826
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.678	0.451
Less	DEPRECIATION/ AMORTISATION	0.164	0.090
	NET PROFIT	0.514	0.361

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

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014
Net Profit Margin (PAT / Sales)	(%)	12.24	15.90
Return on Total Assets (PBT/Total Assets}	(%)	43.52	43.92
Return on Investment (ROI) (PBT/Networth)		0.39	0.66
Debt Equity Ratio (Total Debt /Networth)		0.55	0.46
Current Ratio (Current Asset/Current Liability)		1.42	1.36

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.784	0.933
Reserves & Surplus	0.000	0.000
Net worth	0.784	0.933
Secured Loans	0.386	0.326
Unsecured Loans	0.000	0.000
Total borrowings	0.386	0.326

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Sales	2.271	4.201
		84.985

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Sales	2.271	4.201
Profit	0.361	0.514
	15.90%	12.24%

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)	No
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
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 two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
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.66.71
UK Pound	1	Rs.105.10
Euro	1	Rs.77.11

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	AMR
Report Prepared by :	GTA

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	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		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.