MIRA INFORM REPORT

Report No. :	501919
Report Date :	07.04.2018

IDENTIFICATION DETAILS

Name :	QUALITY NATURAL FOODS CANADA INC.
Registered Office :	420 Nugget Avenue, Toronto, Ontario M1S 4A4
Country :	Canada
Financials (as on) :	2016 [Summarized]
Date of Incorporation :	1986
Legal Form :	Ontario Business Corporation
Line of Business :	Subject is engages in importing and distributing of east and west Indian food and spices.
No. of Employees :	40

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

Status :	Satisfactory
Payment Behaviour :	No Complaints
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)
Canada	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

CANADA - ECONOMIC OVERVIEW

Canada resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. Canada has a large oil and natural gas sector with the majority of crude oil production derived from oil sands in the western provinces, especially Alberta. Canada now ranks third in the world in proved oil reserves behind Venezuela and Saudi Arabia and is the world’s sixth-largest oil producer.

The 1989 Canada-US Free Trade Agreement and the 1994 North American Free Trade Agreement (which includes Mexico) dramatically increased trade and economic integration between the US and Canada. Canada and the US enjoy the world’s most comprehensive and highly balanced bilateral trade and investment relationship, with merchandise trade of $544 billion in 2016, services trade of over $80 billion, and two-way investment stocks of nearly $700 billion. Over three-fourths of Canada’s exports are destined for the US each year. Canada is the largest foreign supplier of energy to the US, including oil, natural gas, and electric power, and a top source of US uranium imports.

Given its abundant natural resources, highly skilled labor force, and modern capital stock, Canada enjoyed solid economic growth from 1993 through 2007. The global economic crisis of 2007-08 moved the Canadian economy into sharp recession by late 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Since the fall in world oil prices in 2014, Canada has achieved modest economic growth.

Source : CIA

STATUTORY INFORMATION
Legal Name:	QUALITY NATURAL FOODS CANADA INC.
Trade Name:	QUALITY NATURAL FOODS CANADA
ID:	001862950
Date Created:	1986
Date Incorporated:	2011-12-01
Legal Address:	420 Nugget Avenue, Toronto, Ontario M1S 4A4, Canada
Operative Address:	420 Nugget Avenue, Toronto, Ontario M1S 4A4, Canada
Telephone:	416 261 8700
Fax:	416 261 8760
Legal Form:	Ontario Business Corporation
Email:	qualitynf@bellnet.ca
Registered in:	CANADA
Website:	www.qualitynaturalfood.com
Contact:	Jarnail Singh, President & Board Member
Staff:	40
Activity:	Main Activity: Food Wholesale.
BANKS:
	The company does not make its banking data public
HISTORY:
	Quality Natural Foods Canada Inc. was established as a corporate entity in 1986 in Montreal, in the province of Quebec, Canada. Its founders, Jarnail Singh and Sheila Singh, aimed to fill the need for a reliable, high quality supply of traditional Asian products to the local Canadian market. In 1995, the company made a strategic decision to shift its Corporate Head Office from Montreal to Toronto.
PRINCIPAL ACTIVITY
	Quality Natural Foods engages in importing and distributing of east and west Indian food and spices.
Products/Services description:	Daawat Premium Basmati Rice Daawat Chef’s Choice Basmati Rice Devaaya Basmati Rice Double Elephant Basmati Rice Maharani Super Sella Basmati Rice Maharani Basmati Diabetic Rice Begum Sella Basmati Rice Shane- E-Punjabi Basmati Rice Priya Basmati Rice Priya Brown Basmati Rice Sohna Basmati Rice Ponni Boiled Rice Sona Masuri Rice Samba Rice Idly Rice Adzuki Beans Black Eye Beans Chana Dal Chickpeas (9MM) Chickpeas (8MM) Chickpeas (10MM) Cow Peas Green Cholia (Chana) Green Lentil Large Green Peas whole Kala Chana Desi Kala Chana Mosambi Lentil Brown (Can) Mung Whole Celera Mung Whole Large Mung Dal Washed Mung Split Moth Whole Polished Pigeon Peas Red Kidney Beans Dark Red Kidney Beans Light Red Lentil Football Red Lentil Split (Turkish) Small Red Beans Soya Beans Toor Dal Dry Toor Dal Oily Urid Dal Football Ghota Urid Dal Washed Urid Split Urid whole India Val Dal Val Whole Polished Yellow Split Peas Yellow Whole Peas Golden Temple WHITE Golden Temple YELLOW Golden Temple Atta (Purple) Robin Hood All Purpose Flour Heera Atta Flour Golden Temple Sooji Sooji - Fine Sooji - Medium Rice Sooji Crack Wheat Brown Crack Wheat White Rice Flour white Arrow Root Flour Barley Flour Corn Flour White Corn Flour Yellow Corn Starch Flour Kuttu Flour Rajgira Flour Singoda Flour Urid Flour Soft Wheat Hard Wheat Natco Gram Flour Virani Gram Flour Qty Besan Flour Marie Tea Biscuits Petit Beurre Biscuits Chocolate Cream Biscuits Coconut Cream Biscuits Custard Cream Biscuits Mango Cream Biscuits Orange Cream Biscuits Strawberry Cream Biscuits Tiffany Gluco Biscuits Digestive Biscuits Family Pack Chocolate Creams Family Pack Orange Creams Family Pack Strawberry Creams Family Pack Custard Creams Piccadeli Chocolate Biscuits Piccadeli Ola Biscuits Piccadeli Strawberry Biscuits Piccadeli Vanilla Biscuits Sugar Free Chocolate Biscuits Sugar Free Lemon Biscuits Sugar Free Orange Biscuits Sugar Free Oatmeal Biscuits Anmol Coconut Oil Baby Olive Oil Brahmi Amla Hair Oil Chyawanprash Chyawanprash Dabar Pure Mustard Oil Dabur Amla Hair Oil Dabur Amla Gold Hair Oil Dabur Amla Light Hair Oil Hajmola Tab Regular Hajmola Tab Imli Hajmola Candy Hingoli Dabur Glucose Powder Janam Ghutti Jasmine Hair Oil Keora Water Lal Tail Oil Pudina Hara Liquid Pudin Hara Pearl Rose Syrup Rose Water Special Hair Oil Vatika Hair Oil Vatika Olive Hair Oil Vatika Shampoo Vatika Shampoo AD Qty Milk Rusk Tasty Rusk Atta Biscuits Jeera Biscuits Aseel Vegetable Ghee Taj Mahal Vegetable Ghee Sohna Sarson ka Saag Sohna Dal Panchratni Sohna Sarson ka Saag Sohna Kari Pakora Sohna Alu Methi Sohna Mutter Paneer Sohna Alu Palak Sohna Palak Paneer Sohna Alu Wari Sohna Punjabi Chole Sohna Baingan Bhartha Sohna Rajma Masala Sohna Black Channa Sohna Tadka Dal Sohna Dal Makhani Alu Baingan Masala Alu Bhindi Masala Mutter Paneer Amirtsari Kala Chana Masala Jaipuri Palak Paneer Baigan Bharta Paneer Tikka Masala Dal Makhni Delhi Aloo Mutter Kadi Pakora Basmati Jeera Rice Kashmiri Dum Aloo Hyderabadi Veg. Biryani Langarwali Dal Veg.Biryani Rice Lucknowi Rajma Masala Veg.Biryani Pilaf Peshawari Kadai Veg Patiala Veg. Korma Dal Tadka & Basmati Pulao Rice Punjabi Masala Dal Tadka Kadhi Pakora & Basmati Rice Punjabi Sukhi Dal Masala Shahi Punjabi Chole Sarson Da Saag Tawa Pyaaz Mushroom GITS INSTANTS MIX JUICE & SOFT DRINKS PICKLES, CHUTNEYS, PASTES, MURABBA REWARI ,SNACKS, SWEETS & SHARBAT SPICES & MASALA HAWKINS & FUTURA COOKWARE
Brands:	No brands registered
Sales are:	Wholesale
Clients:	CHETAK NEW YORK LLC
Suppliers:	EDWARD B. BEHARRY & CO. LTD Mansi Foods Product DESAI BROTHERS LTD. Haldiram Foods International Private Limited Jabs International Pvt.Ltd
Operations area:	National and International
The company imports from	Guyana, India
The subject employs	40 employees
Payments:	No Complaints
LOCATION
Headquarters :	420 Nugget Ave, M1S 4A4, Scarborough, Ontario, CANADA
Comments:	NA
Branches:	No branches
Main Competitors	NA
Related Companies:	No related companies
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. The company is part of: Loblaw Group of Company Canada
Management:	David Gore, Director Jarnail Singh, President & Board Member Vicente Trius, Director
FINANCIAL INFORMATION
	The company does not make its financial statements public. The following information has been provided by private sources:
CAD 2016
Sales	6 320 000
CASH FLOW	NORMAL
LEGAL FILINGS
Lawsuits:	1. United Food and Commercial Workers International Union, Local 175 v Quality Natural Foods Canada Inc., 2017 CanLII 29303 (ON LRB) 2. Workers United Canada Council v Quality Natural Foods Canada Inc, 2014 CanLII 49620 (ON LRB) 3. United Food and Commercial Workers International Union, Local 175 v #141726 Quality Natural Foods Canada Inc., 2017 CanLII 26468 (ON LRB) 4. Workers United Canada Council v Quality Natural Foods Canada Inc, 2014 CanLII 53070 (ON LRB) 5. United Food and Commercial Workers International Union, Local 175 v #141726 Quality Natural Foods Canada Inc., 2017 CanLII 26419 (ON LRB)
OFAC Sanctions List Search:	The company is not listed in the OFAC list.
SUMMARY
	Quality Natural Foods Canada Inc. was established as a corporate entity in 1986. It engages in importing and distributing of east and west Indian food and spices. It mainly imports from Guyana and India and does not show export. It is ACTIVE in ONTARIO, CANADA; with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	NA
POSITION	NA
COMMENTS	We called several times but always reached their voicemail. We left a voice message asking for information, if they return the call we will notify you.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.98
UK Pound	1	INR 90.95
Euro	1	INR 79.51
CAD	1	INR 50.72

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	TPT

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.