MIRA INFORM REPORT

Report No. :	503867
Report Date :	18.04.2018

IDENTIFICATION DETAILS

Name :	EMINENT EXPORTS (INDIA)
Registered Office :	No. 203, 2nd Floor, Shivam Tower, Raj Nagar District Center, Raj Nagar, Near Mahalaxmi Mall, Ghaziabad - 201002, Uttar Pradesh
Tel. No.:	91-120-4150278
Country :	India
Financials (as on) :	31.03.2017 (Detail Financial) 31.03.2018 (Sales Figure)
Date of Establishment :	14.07.2008
Capital Investment / Paid-up Capital :	INR 6.149 Million (As on 31.03.2017)
IEC No.: [Import-Export Code No.]	0508040191
PAN No.: [Permanent Account No.]	ALXPK9068Q
GSTN : [Goods & Service Tax Registration No.]	09ALXPK9068Q1ZM
TIN/CST No.:	09888808187
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturer, Trader and Exporter of Steel Pipes, Seamless Pipes and Tubes, Steel Valves, Flanges etc. (Confirmed by management)
No. of Employees :	25 (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 17600
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a proprietorship concern established in the year 2008. It is a manufacturer, trader and exporter of steel pipes, seamless pipes and tubes, steel valves, flanges etc. Mr. Sunil Singhal (Manager) provided information about the subject to us. For the financial year 2017, the concern has achieved revenue of INR 76.566 million along with an average profit margin of 3.90%. The satisfactory financial risk profile of concern is marked by sufficient capital base along with low debt balance sheet profile. Payment seems to be usually correct. In view of aforesaid, the concern can be considered for business dealings at usual trade terms and conditions.

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

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 18.04.2018

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. Sunil Singhal
Designation :	Manager
Contact No.:	91-9717555335
Date :	13.04.2018

LOCATIONS

Registered Office :	No. 203, 2nd Floor, Shivam Tower, Raj Nagar District Center, Raj Nagar, Near Mahalaxmi Mall, Ghaziabad - 201002, Uttar Pradesh, India
Tel. No.:	91-120-4150278 / 2820307
Mobile No.:	91-9717555335 (Mr. Sunil Singhal)
Fax No.:	91-120-2820313
E-Mail :	marketing@eei.co.in
Website :	http://www.eminenttubularproducts.net
Area :	470 Sq. Ft.
Location :	Owned
Locality :	Commercial
Factory :	129, Prakash Industrial Estate, Sahibabad – 201006, Uttar Pradesh, India

SOLE PROPRIETOR

Name :	Mr. Akhil Kumar
Designation :	Proprietor
Address :	K/898, Raj Nagar, Sector-23, Ghaziabad - 201001, Uttar Pradesh, India
PAN No.:	ALXPK9068Q

KEY EXECUTIVES

Name :	Mr. Sunil Singhal
Designation :	Manager

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader and Exporter of Steel Pipes, Seamless Pipes and Tubes, Steel Valves, Flanges etc. (Confirmed by management)
Products :	Steel Pipes Seamless Pipes Tubes Steel Valves Flanges
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished goods
Countries :	Ethiopia
Imports :	Not Available
Terms :
Selling :	Advance Payment, Cheque and Others (NEFT)
Purchasing :	Advance Payment, Cheque and Others (NEFT)

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesalers, Retailers

• Siemens
• Corce Turbo
• Hindustan constant

No. of Employees :

25 (Approximately)

Bankers :

• HDFC Bank Limited
• Axis Bank Limited

Banker Name :	Yes Bank Limited
Branch :	Ground Floor, 1^st, 2^nd and 3^rd floor, C-37, Rajnagar - 201002, Uttar Pradesh, 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 :	--

Facilities :

Particular	31.03.2017 (INR in Million)
Secured Loan HDFC Bank Limited	0.096
Axis Bank Limited	5.253
	0.000
Unsecured Loan	1.339
Total	6.688

Auditors :

Name :

Vipin Madan and Associates

Chartered Accountants

Address :

Delhi, India

Membership No.:

95818

Collaborators :

Not Available

Membership :

Not Available

Group Company (As confirmed by management) :

Eminent Pipe and Profiles Private Limited

Victor Screen Pipe Industries

CAPITAL STRUCTURE

AS ON 31.03.2017

Particular	As on 31.03.2017
Mr. Nikhil Kumar
Opening balance	4.290
Add: Net Profit	2.985
Add: Additions	0.000
	7.275
Less: Drawings	(1.126)
Total		6.149

FINANCIAL DATA

[all figures are INR Million]

Particulars	31.03.2018
Sales Turnover (Approximately)	140.000
	(Due to business growth)

Expected Sales (2018-2019): INR 200.000 Million

The above information has been parted by Mr. Sunil Singhal (Manager)

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
EQUITY AND LIABILITIES
1] Proprietors Capital		6.149
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		6.149
LOAN FUNDS
1] Secured Loans		5.349
2] Unsecured Loans		1.339
TOTAL BORROWING		6.688
DEFERRED TAX LIABILITIES		0.000
TOTAL		12.837
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.943
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.802
	Sundry Debtors	9.026
	Cash & Bank Balances	0.790
	Other Current Assets	0.000
	Loans & Advances	6.977
Total Current Assets		19.595
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4.702
	Other Current Liabilities and Provisions	3.999
Total Current Liabilities		8.701
Net Current Assets		10.894
MISCELLANEOUS EXPENSES		0.000
TOTAL		12.837

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	76.566
	Other Income	0.745
	TOTAL	77.311
Less	EXPENSES
	Cost Of Materials Consumed	55.646
	Entry Tax	0.036
	Accountancy Charges	0.030
	Audit Fee	0.025
	Bonus	0.874
	Business Promotion	0.326
	Car Expenses	0.489
	Clearing And Forwarding Charges	3.171
	Commission Paid To Foreign Agent	0.110
	Commission Paid To Indian Agent	1.986
	Computer Maintenance	0.016
	Conveyance	0.747
	Discount	0.400
	Electricity Expenses	0.043
	Festival Expenses	0.250
	Foreign Exchange Fluctuation	0.006
	Freight and Cartage	0.009
	Grooving Job Work Charges	0.133
	Insurance	0.030
	Late Delivery Charges	0.295
	Ocean Fright Expenses	0.136
	Postage and Courier Charges	0.032
	Printing and Stationery	0.039
	Professional Charges	0.030
	Registration And Fee	0.132
	Rent (Godown)	0.044
	Repair and Maintenance (Office)	0.071
	Salary	5.605
	Staff Welfare	0.225
	Telephone Charges	0.222
	Transportation Charges	1.073
	Travelling Expenses	0.925
	TOTAL	73.156
	PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION	4.155
Less	FINANCIAL EXPENSES	0.842
	PROFIT / (LOSS) BEFORE, DEPRECIATION AND AMORTISATION	3.313
Less/ Add	DEPRECIATION/ AMORTISATION	0.328
	NET PROFIT/ (LOSS)	2.985

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	43.03
Account Receivables Turnover (Income / Sundry Debtors)	8.48
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	30.84
Inventory Turnover (Operating Income / Inventories)	1.48
Asset Turnover (Operating Income / Net Fixed Assets)	2.14

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.71
Debt Equity Ratio (Total Liability / Networth)	1.09
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.63
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.32
Interest Coverage Ratio (PBIT / Financial Charges)	4.93

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	3.90
Return on Total Assets ((PAT / Total Assets) * 100)	%	13.86
Return on Investment (ROI) ((PAT / Networth) * 100)	%	48.54

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.95
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.67
G-Score Ratio Financial (Networth / Total Assets)	0.29
G-Score Ratio Debt (Debts / Equity Capital)	1.09
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.95

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 -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	No
11	Pan Card No. of Proprietor / Partners	Yes
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)	Yes
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 2 years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	Yes
29	Profitability for last one year	Yes
30	Major shareholders, if available	No
31	Litigations that the firm/promoter involved in	--
32	Market information	--
33	Payments terms	Yes
34	Negative Reporting by Auditors in the Annual Report	No

ISO CERTIFICATE

No:

ISO 9001: 2015

Start Date:

12.07.2017

Expiry Date:

21.05.2018

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 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34

INFORMATION DETAILS

Information Gathered by :	AKY
Analysis Done by :	DIV
Report Prepared by :	RKI

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	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.