MIRA INFORM REPORT

Report No. :	503151
Report Date :	17.04.2018

IDENTIFICATION DETAILS

Name :	PERFOTECH SYSTEMS
Registered Office :	No. A 91 and 92 , 1st Phase, Antharasanahalli, Behind Old KIADB Office, Tumkur – 572106, Karnataka
Mobile No.:	91-9731304862 (Mr. Mallikarjun. P.C )
Country :	India
Financials (as on) :	31.03.2017
Date of Establishment :	10.03.2016
Capital Investment / Paid-up Capital :	INR 3.191 Million (As on 31.03.2017)
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
TIN No.:	Not Divulged
PAN No.: [Permanent Account No.]	AASFP3672R
Legal Form :	Partnership Concern with an unlimited liability of the partners
Line of Business :	Manufacturer of perforated sheets, end caps, sheet metals, fabricated and panel boards. (From indirect source)
No. of Employees :	Not Divulged

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Maximum Credit Limit:	USD 9110 (In INR 597881.56)
Status :	Moderate
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

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 31-03-2018.

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 17.04.2018

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 DENIED BY

Name :	Mr. Mallikarjun. P.C
Designation :	Partner
Contact No.:	91-9731304862
Date :	16.04.2018

LOCATIONS

Registered Office :	No. A 91 and 92 , 1st Phase, Antharasanahalli, Behind Old KIADB Office, Tumkur – 572106, Karnataka, India
Tel. No.:	Not Available
Mobile No.:	91-9731304862 (Mr. Mallikarjun. P.C ) 91-9731304861 (Company)
Fax No.:	Not Available
E-Mail :	perfotechsystems@gmail.com enquiry@perfotechsystems.com
Website :	http://www.perfotechsystems.com
Locality:	Industrial (As per site visit)

PARTNERS

Name :	Mr. Mallikarjun. P.C
Designation :	Partner
Name :	Mr. Raghavendra Kanchagar
Designation :	Partner
Name :	Mr. Yogesh. N
Designation :	Partner

BUSINESS DETAILS

Line of Business :	Manufacturer of perforated sheets, end caps, sheet metals, fabricated and panel boards. (From indirect source)
Products :	Perforated Sheets End Caps Sheet Metals Fabricated and Panel Boards
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

• M. S. Power Tools
• Maruthi Industries
• Pavan Automats
• Quality Wire Products
• Swastick Enterprises
• Valli Fine Tools

Customers :

• Busbar Systems (India) Limited
• C. K. Power
• C.M Enuic Systems Private Limited
• Composite Technologies Private Limited
• Global Fine Punch
• G. R. Enterprises
• Krishna Fab Tech

No. of Employees :

Not Divulged

Bankers :

Banker Name :	State Bank of India
Branch :	Yellapura, Tumkar – 572106, Karnataka, India
Person Name (With Designation) :	--
Contact Number :	91-816-2211151 (Continuously Ringing)
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 :	--

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017
State Bank of India CC A/C-64210406948	1.934
State Bank of India Term Loan - 64210407602	1.235
Total	3.169

Auditors :
Name :	Chowdappa and Company Chartered Accountants
Address:	Tumkuru, Karnataka, India
FRN No.:	015441S
MRN.:	235212
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

AS ON 31.03.2017

Mallikarjun. P.C

Particular	INR in Million
Add: additions	1.140
Interest on capital	0.091
Remuneration	0.205
Net profit	0.109
Total	1.545

Raghavendra Kanchagar

Particular	INR in Million
Add: additions	0.590
Interest on capital	0.045
Remuneration	0.204
Net profit	0.055
Total	0.894

Yogesh. N

Particular	INR in Million
Add: additions	0.590
Interest on capital	0.039
Remuneration	0.204
Net profit	0.055
Less: Drawings	(0.135)
Total	0.753

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
EQUITY AND LIABILITIES
1] Partner’s Capital		3.191
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		3.191
LOAN FUNDS
1] Secured Loans		3.169
2] Unsecured Loans		0.000
TOTAL BORROWING		3.169
DEFERRED TAX LIABILITIES		0.000
TOTAL		6.360
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.483
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.456
	Sundry Debtors	2.644
	Cash & Bank Balances	0.312
	Other Current Assets	0.128
	Loans & Advances, Deposits	0.311
Total Current Assets		5.851
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.850
	Other Current Liabilities	0.000
	Provisions	0.124
Total Current Liabilities		0.974
Net Current Assets		4.877
MISCELLANEOUS EXPENSES		0.000
TOTAL		6.360

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	2.737
	Other Income	2.553
	TOTAL	5.290
Less	EXPENSES
	Cost Of Goods Sold	1.695
	Wages	0.580
	Machinery Maintains	0.107
	Labour Charges	0.385
	Freight	0.046
	Electricity Charges	0.107
	Discount	0.000
	Cartage	0.000
	Bonus	0.090
	Accounting Charges	0.009
	Advertisement	0.007
	Audit Fees	0.008
	Pooja Expenses	0.023
	Computer Maintains	0.002
	Water	0.010
	Interest On Partner	0.175
	General Expenses	0.022
	Processing Charges	0.113
	Maintains	0.019
	Pooja Expenses	0.039
	Postage And Courier Charges	0.002
	Printing And Stationery	0.009
	Profession Tax Deposit	0.002
	Remuneration To Partners	0.612
	Rent	0.273
	Machinery Maintains	0.250
	Security Charges	0.072
	Welfare Charges	0.086
	Telephone/Mobile	0.019
	Registration Charges	0.000
	TOTAL	4.762
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.528
Less	FINANCIAL EXPENSES	0.067
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.461
Less/ Add	DEPRECIATION/ AMORTISATION	0.242
	NET PROFIT / (LOSS)	0.219

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	352.60
Account Receivables Turnover (Income / Sundry Debtors)	1.04
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	159.51
Asset Turnover (Operating Income / Net Fixed Assets)	0.36

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.56
Debt Equity Ratio (Total Liability / Networth)	0.99
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.31
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.46
Interest Coverage Ratio (PBIT / Financial Charges)	7.88

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	8.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.99
Return on Investment (ROI) ((PAT / Networth) * 100)	%	6.86

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	6.01
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	6.01
G-Score Ratio Financial (Networth / Total Assets)	0.44
G-Score Ratio Debt (Debts / Equity Capital)	0.99
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	6.01

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

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 –Legal Form	Yes
3	Locality of the entity	Yes
4	Premises details	No
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	No
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 one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year	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	No
35	Negative Reporting by Auditors in the Annual Report	No

OBSERVATION POINTS

Name of Company :	PERFOTECH SYSTEMS
Address :	No. A 91 and 92 , 1st Phase, Antharasanahalli, Behind Old KIADB Office, Tumkur – 572106, Karnataka, India
Mobile No.:	91-9731304862
Person to whom we met:	Mr. Gopal Reddy (Security Guard)
Name Board :	Not Sighted
Location:	Easy
Landmark (If Any):	Near Wipro (Bypass Road)
Total Floors of the building:	Shed Type Premises
Locality:	Industrial
Area :	Neutral
Neighbour’s Overview:	On inquiry with Mr. Bhamaprakash from (Accupunch Systems) and Mr. Ravi Kumar from (Goa Canteen) both the person from neighbouring companies confirmed that the subject exist on the given address and now it has been shifted from “Plot No. R-37, KSSIDC, 2^nd Phase, Thumkur, Karnataka from past 1 month.
Proof of visit:	Photographs

FIXED ASSTES:

· Air Compressor

· Computer

· Drilling Machine

· Furniture and Fixture

· Smart Punching Machine

· Welding Machine

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	INR
US Dollar	1	INR 65.44
UK Pound	1	INR 93.27
Euro	1	INR 80.73

INFORMATION DETAILS

Information Gathered by :	POO
Analysis Done by :	NIS
Report Prepared by :	NKTS

SCORE FACTORS

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

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.