MIRA INFORM REPORT

Report No. :	341757
Report Date :	25.09.2015

IDENTIFICATION DETAILS

Name :	BHAGYALAXMI GINNING AND PRESSING
Registered Office :	103/2, Murma Pachod, Paithan, Aurangabad – 431003, Maharashtra
Mobile No.:	91-9422212815 (Mr. Rajendra)
Country :	India
Financials (as on) :	31.03.2015 (Provisional)
Date of Incorporation/ Year of Establishment :	2005
Capital Investment / Paid-up Capital :	Rs.5.580 Million
IEC No.:	Not Available
TIN No.:	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Partnership Concern with an unlimited liability of the partners
Line of Business :	Manufacturing of Yarn, Cotton (Job Work)
No. of Employees :	15 (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 concern
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is small partnership concern started in the year 2005. It undertakes job work manufacturing of cotton and yarn. The rating is constrained on account of small scale of business operation marked by high customer concentration risk and concern revenue depends on the seasonality of the industry Their trade relations are reported as fair. Business is active. Payments are reported as slow but correct. The concern 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

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. Rajendra Badjate
Designation :	Partner
Contact No.:	91-9422212815
Date :	22.09.2015

LOCATIONS

Registered Office/ Factory :	103/2, Murma Pachod, Paithan, Aurangabad – 431003, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9422212815 (Mr. Rajendra)
Fax No.:	Not Available
E-Mail :	Nrb.nikhil@gmail.com

PARTNERS

Name :	Mr. Rajendra Badjate
Designation :	Partner
Name :	Mrs. Sangeeta Badjate
Designation :	Partner

BUSINESS DETAILS

Line of Business :	Manufacturing of Yarn, Cotton (Job work)
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

End Users

Reference :	Louis Dryfus, Mumbai
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

· Bagadia Oil Mill, Aurangabad

· Rounak Enterprises, Malkapur

· Namaha Cotton, Dharur

· Narmada Cotton, Kolhapur

· Vimalchand Ratanlal, Indor

· Bhadresh Trading Company, Mumbai

· Somani Ginning and Oil Mill, Aurangabad

· Sai Cotex, Pachod

· Fabi Qutn Private Limited, Aurangabad

· Soha Oil Industries, Jalna

· Keshvraj Oil Mill, Beed

· Balaji Oil Mill, Jalna

No. of Employees :

15 (Approximately)

Bankers :

Banker Name :	Dombivli Nagari Sahakari Bank Limited
Branch Address :	Samarth Nagar, Aurangabad, Maharashtra, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	Not Divulged
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 :	Mr. Sabulla Chartered Accountants
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	NR Agro Industries

CAPITAL STRUCTURE

As on: 31.03.2015 (Provisional)

Capital Investment :	Amount (Rs. In Million)
Rajendra Badjate	4.551
Sangeeta Badjate	1.029
Total	5.580

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Partners Capital		5.580	5.306	4.943
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5.580	5.306	4.943
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		1.825	0.203	0.203
TOTAL BORROWING		1.825	0.203	0.203
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.405	5.509	5.146
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.342	1.383	1.425
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.138
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.284	0.000	0.000
	Sundry Debtors	4.381	3.552	3.617
	Cash & Bank Balances	0.579	0.514	0.109
	Other Current Assets	0.472	0.472	0.510
	Loans & Advances	0.187	0.187	0.187
Total Current Assets		8.903	4.725	4.423
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.723	0.123	0.365
	Other Current Liabilities	0.663	0.021	0.021
	Provisions	0.263	0.264	0.263
	Duties and taxes	0.191	0.191	0.191
Total Current Liabilities		2.840	0.599	0.840
Net Current Assets		6.063	4.126	3.583
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.405	5.509	5.146

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
	SALES
		Income	12.837	0.000	0.000
		Job Work	0.000	0.616	0.147
		Other Income	0.000	0.000	0.000
		TOTAL	12.837	0.616	0.147
Less	EXPENSES
		Cost of goods sold	11.613	0.000	0.000
		Accounting Charges	0.000	0.000	0.003
		Audit Fees	0.012	0.000	0.000
		Bank Charges	0.019	0.000	0.001
		Electricity Expenses	0.000	0.000	0.028
		Labour Charges	0.000	0.000	0.065
		Salary	0.138	0.197	0.036
		Legal Fees	0.000	0.000	0.005
		Misc. Expenses	0.000	0.000	0.002
		Taxes Paid	0.000	0.000	0.003
		Administrative Expenses	0.000	0.159	0.000
		Interest on capital	0.157	0.198	0.000
		Processing Charges A/c	0.000	0.013	0.000
		Diesel and Petrol	0.070	0.000	0.000
		Interest on OD A/c	0.115	0.000	0.000
		Office Expenses	0.008	0.000	0.000
		Printing and Stationery	0.004	0.000	0.000
		Repair of Machinery	0.032	0.000	0.000
		Telephone and Postage	0.016	0.000	0.000
		Travelling Expenses	0.016	0.000	0.000
		Manufacturing Expenses	0.539	0.000	0.000
		TOTAL	12.739	0.567	0.143
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.098	0.049	0.004
Less/ Add	DEPRECIATION/ AMORTISATION		0.041	0.043	0.000
	NET PROFIT		0.057	0.006	0.004

The above information has been parted by Mr. Rajendra Badjate (Partner)

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

KEY RATIOS

PARTICULARS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.44	0.97	2.72
Return on Total Assets (PBT/Total Assets}	(%)	0.56	0.10	0.07
Return on Investment (ROI) (PBT/Networth)		0.01	0.00	0.00
Debt Equity Ratio (Total Debt /Networth)		0.33	0.04	0.04
Current Ratio (Current Asset/Current Liability)		1.91	5.89	4.37

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	4.943	5.306	5.580
Reserves & Surplus	0.000	0.000	0.000
Net worth	4.943	5.306	5.580
Secured Loans	0.000	0.000	0.000
Unsecured Loans	0.203	0.203	1.825
Total borrowings	0.203	0.203	1.825
Debt/Equity ratio	0.041	0.038	0.327

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	0.147	0.616	12.837
		319.048	1,983.929

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	0.147	0.616	12.837
Profit	0.004	0.006	0.057
	2.72%	0.97%	0.44%

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	Yes
18	Major suppliers	No
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	No
29	Profitability for last three 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

NAMES OF COMPETITORS

Sr. No.	Names of Competitors	Address
1	Mahavir Ginning and Pressing	At Murma(Pachod), Taluka Paithan, Dist Aurangabad, India
2	Raj Trading company	At Pachod, Taluka Paithan, Dist Aurangabad
3	White Lotus	Chetan Trade Center, Aurangabad
4	Friends Associates	At Chitegaon, Aurangabad
5	Bafana Ginning & Pressing	At Chitegaon, Aurangabad

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.65.96
UK Pound	1	Rs.101.19
Euro	1	Rs.73.37

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	DIV
Report Prepared by :	JYTK

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	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.