MIRA INFORM REPORT

Report No. :	501085.2
Report Date :	04.04.2018

IDENTIFICATION DETAILS

Name :	SHREE CORPORATION
Registered Office :	K-109, Ansa Industrial Estate, Building No K, 1st Floor, Saki Vihar Road, Saki Naka, Mumbai -400072, Maharashtra
Mobile No.:	91-9594747460 (Mr. Sachin Bapu Kurade)
Country :	India
Financials (as on) :	31.03.2016
Year of Establishment :	07.12.2012
Capital Investment / Paid-up Capital :	INR 1.163 Million
Com.Reg No.	762001543
IEC No.: [Import-Export Code No.]	Not Applicable (As informed by the management that firm does not have export and import)
GSTN : [Goods & Service Tax Registration No.]	27BGFPK0673K1Z7
TIN No.:	27040955861
PAN No.: [Permanent Account No.]	BGFPK0673K
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader and Distributor of audio visual equipment. [Confirmed by management]
No. of Employees :	20 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 3300 (IN INR 214450.50)
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 04.04.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY

Name :	Mr. Sachin Bapu Kurade
Designation :	Proprietor
Contact No.:	91-9594747460
Date :	02.04.2018

LOCATIONS

Registered Office / Warehouse:	K-109, Ansa Industrial Estate, Building No K, 1st Floor, Saki Vihar Road, Saki Naka, Mumbai -400072, Maharashtra, India
Tel. No.:	91-22-65555119/49702368
Mobile No.:	91-9594747460 (Mr. Sachin Bapu Kurade)
Fax No.:	Not Available
E-Mail :	info@shreecorporation.co.in
Website:	www.shreecorporation.co.in
Area:	875 Sq. Ft
Location:	Owned
Locality:	Industrial

SOLE PROPRIETOR

Name :	Mr. Sachin Bapu Kurade
Designation :	Proprietor
Date of birth/age:	18.11.1980
Qualification:	T.Y B.Com

BUSINESS DETAILS

Line of Business :	Trader and Distributor of audio visual equipment. [Confirmed by management]
Brand Names :	Not Available
Agencies Held :	Indian
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cheque, Credit and Others (Online) (30,60 Days)
Purchasing :	Cheque and Others (Online) (30 Days)

GENERAL INFORMATION

Suppliers :

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

Customers :

End Users

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

No. of Employees :

20 (Approximately)

Bankers :

Banker Name :	Kotak Mahindra Bank
Branch :	Satellite Silver Cooperative Housing Society Limited, Andheri Kurla Raod, Mumbai, Maharashtra, India
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

• ICICI Bank Limited

Auditors 1:
Name :	Hemal Parekh and Company Chartered Accountants
Auditors 2 :
Name :	Samir Gokulbhai Kasvala Chartered Accountants
Address:	Shop No. 17, Sant Mukta Cooperative Housing Society Limited, Peru Baur, Aarey Road, Goregaon, Mumbai, Maharashtra, India
Tel No.:	91-22-49702368
Email:	info@shreecorporation.co.in
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	Active AV Technologies LLP Address: K-109, Ansa Industrial Estate, Building No K, 1st Floor, Saki Vihar Road, Saki Naka, Mumbai -400072, Maharashtra, India

CAPITAL STRUCTURE

AS ON 31.03.2016

Particulars	INR IN Million	Particulars	INR IN Million
To Drawings	0.402	By Balance B/f	0.878
To Mediclaim	0.014	By Profit & Loss A/c	0.803
To TDS	0.080	By PPF Interest	0.015
To Insurance	0.058	By Interest on IT Refund	0.002
		By Income Tax Refund	0.019
To Balance C/f	1.163
Total	1.717	Total	1.717

FINANCIAL DATA

[all figures are INR Million]

Particulars	31.03.2017
Sales Turnover (Approximately)	30.000

Expected Sales (2017-2018): INR 110.000 Million (Due to business growth)

The above information has been parted by Mr. Sachin Bapu Kurade (Proprietor)

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2016	31.03.2015	31.03.2014
EQUITY AND LIABILITIES
1] Share Capital		1.163	0.878	0.250
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		1.163	0.878	0.250
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.760	0.378	0.045
TOTAL BORROWING		0.760	0.378	0.045
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1.923	1.256	0.295
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.066	0.071	0.114
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.312	0.172	0.011
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.504	0.827	0.024
	Sundry Debtors	0.292	1.287	0.000
	Cash & Bank Balances	1.203	0.339	0.076
	Other Current Assets	0.003	0.268	0.000
	Loans & Advances, Deposite	1.275	0.228	0.072
Total Current Assets		3.277	2.949	0.172
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.369	1.579	0.000
	Other Current Liabilities and Provisions	0.363	0.357	0.002
Total Current Liabilities		1.732	1.936	0.002
Net Current Assets		1.545	1.013	0.170
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1.923	1.256	0.295

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Income	8.289	10.886	2.561
	Other Income	0.000	0.000	0.014
	TOTAL	8.289	10.886	2.575
Less	EXPENSES
	Cost of Materials Consumed	5.289	8.071	1.335
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Octroi/Entry tax	0.022	0.008	0.002
	Forwarding Charges	0.000	0.000	0.007
	Labour Charges	0.000	0.000	0.096
	Advertising Expenses	0.000	0.023	0.000
	Medical Expenses	0.000	0.000	0.015
	Motor Car Expenses	0.000	0.000	0.004
	Motor Cycle Expenses	0.000	0.000	0.003
	Audit Fees	0.000	0.024	0.000
	Commission paid	1.050	0.857	0.453
	Business Promotion Expenses	0.000	0.012	0.000
	Conveyance Expenses	0.090	0.067	0.000
	Delivery and Forwarding Expenses	0.015	0.046	0.000
	Discount	0.000	0.015	0.000
	Electricity Expenses	0.056	0.010	0.019
	General Expenses	0.000	0.000	0.014
	Misc and Office Expenses	0.109	0.038	0.000
	Office Rent	0.212	0.123	0.060
	Postage and Courier	0.023	0.000	0.000
	Printing and Stationery	0.055	0.025	0.016
	Professional Fees	0.038	0.021	0.003
	Professional Tax	0.003	0.000	0.005
	Programming Charges	0.000	0.192	0.022
	Staff Salary	0.322	0.358	0.166
	Staff Welfare Expenses	0.071	0.025	0.008
	Repairs and Maintenance	0.050	0.000	0.000
	Telephone Expenses	0.020	0.005	0.003
	Travelling Expenses	0.039	0.024	0.004
	TOTAL	7.464	9.944	2.235
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.825	0.942	0.340
Less	FINANCIAL EXPENSES	0.005	0.016	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.820	0.926	0.340
Less/ Add	DEPRECIATION/ AMORTISATION	0.016	0.023	0.021
	Net Profit	0.804	0.903	0.319

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	12.86	43.15	0.00
Account Receivables Turnover (Income / Sundry Debtors)	28.39	8.46	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	94.48	71.41	0.00
Inventory Turnover (Operating Income / Inventories)	1.64	1.14	14.17
Asset Turnover (Operating Income / Net Fixed Assets)	12.50	13.27	2.98

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.68	0.72	0.16
Debt Equity Ratio (Total Liability / Networth)	0.65	0.43	0.18
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.14	2.64	0.19
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.06	0.08	0.46
Interest Coverage Ratio (PBIT / Financial Charges)	165.00	58.88	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	9.70	8.30	12.46
Return on Total Assets ((PAT / Total Assets) * 100)	%	22.00	28.29	107.41
Return on Investment (ROI) ((PAT / Networth) * 100)	%	69.13	102.85	127.60

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.44	1.35	3.89
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.24	0.99	3.38
G-Score Ratio Financial (Networth / Total Assets)	0.32	0.28	0.84
G-Score Ratio Debt (Debts / Equity Capital)	0.65	0.43	0.18
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.44	1.35	3.89

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Share Capital	0.250	0.878	1.163
Reserves & Surplus	0.000	0.000	0.000
Net worth	0.250	0.878	1.163
Secured Loans	0.000	0.000	0.000
Unsecured Loans	0.045	0.378	0.760
Total borrowings	0.045	0.378	0.760
Debt/Equity ratio	0.180	0.431	0.653

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	2.561	10.886	8.289
		325.068	(23.856)

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	2.561	10.886	8.289
Profit/(Loss)	0.319	0.903	0.804
	12.46%	8.30%	9.70%

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	Yes
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	No
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 four years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	Yes
29	Profitability for last three 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

NOTE: 1

OBSERVATION POINTS

Name of Company :	SHREE CORPORATION
Address :	Unit No. 04, Twin Complex, Phase-2, Marol, Maroshi Road, Marol Naka, Andheri (East), Mumbai- 4000059, Maharashtra, India
Person to whom we met:	Neighbour (Name: Not Divulged)
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	Metro Station
Locality:	Commercial
Area :	Upmarket
Proof of visit:	Photographs

NOTE: 2

OBSERVATION POINTS

Name of Company :	SHREE CORPORATION
Address :	K-109, Ansa Industrial Estate, Building No K, 1st Floor, Saki Vihar Road, Saki Naka, Mumbai -400072, Maharashtra, India
Mobile No.:	91-9768978753/8355846989
Person to whom we met:	Name: Mr. Jayesh Shirpurkar Designation : Office Executive
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	Ansa Industrial Estate
Total Floors of the building:	2 Floors
Subject situated on:	1^st Floor
Locality:	Industrial
Area :	Upmarket
No. of employees seen at premises:	5
Visibility of Items:	· Telephone · Computers · Air Conditioner · Office Equipment
Furniture items sighted :	Yes
Proof of visit:	Photographs

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	INR
US Dollar	1	INR 65.02
UK Pound	1	INR 91.46
Euro	1	INR 80.09

INFORMATION DETAILS

Information Gathered by :	SHW
Analysis Done by :	VAR
Report Prepared by :	KVT

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.