MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	503927
Report Date :	21.04.2018

IDENTIFICATION DETAILS

Name :	SUDARSHAN CSR FOUNDATION

Registered Office :	162, Wellesley Road, Pune - 411001, Maharashtra
Tel. No.:	91-20-26226200

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	03.03.2015

Com. Reg. No.:	11-154211

Capital Investment / Paid-up Capital :	INR 0.100 million

CIN No.: [Company Identification No.]	U74900PN2015NPL154211

IEC No.: [Import-Export Code No.]	Not Divulged

TIN No.:	Not Divulged

GSTN : [Goods & Service Tax Registration No.]	Not Divulged

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAVCS5287P

Legal Form :	Foundation

Line of Business :	Subject carry on among: (a) Promotion of Education and (b) Enhancing Vocational Skills, Eradication of hunger and promoting hygiene, (c) promotion of sports, (d) protection of national heritage and promotion and development of traditional arts, (e) promotion of gender equality and (f) other infrastructure that would help meet the objectives of environment sustainability such as waste management, vermin-culture, organic farming, etc. [Registered Activity]

No. of Employees :	Not Divulged

RATING & COMMENTS

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

MIRA’s Rating :

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is a subsidiary of “Sudharshan Chemical Industries Limited”. The Foundation was started in the year 2015 and it is based in Pune, Maharashtra. Sudarshan CSR Foundation aims for education. It has working with Seva Sahayog Foundation (SSF) in Pune and Magic Bus in Roha to enhance the accessibility and quality of education. In Roha, Sudarshan has tied up with Magic Bus to bring about positive changes in the behavior and attitude of children and parents in the domain areas of education, gender, and health using Magic Bus’ sport and activity-based curriculum. This program will cover 1500 children in 17 Zilla Parishad Schools in Roha. It has reach over 100 slums in Pune city over the next three years and will work to enhance child development, health & vocational education. Sudarshan has also setup a computer lab at the JM Rathi School to be used not only by the students of the school but also for children of the local community. Basic computer education at the lab will be provided by established computer education firms in the region. Further, the foundation derives strength from its holding entity and its experienced management team However, the rating strength is partially offset by minimal income earned by the subject and reported loss during FY 2017. Payment terms are seems to be slow but correct. The foundation 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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

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 21.04.2018.

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 DECLINED BY

Name :	Mr. Milind
Designation :	Accountant
Contact No.:	91-20-26226200
Date :	18.04.2018

LOCATIONS

Registered Office :	162, Wellesley Road, Pune - 411001, Maharashtra, India
Tel. No.:	91-20-26226200
Fax No.:	91-20-26058222
E-Mail :	psraghavan@sudarshan.com contact@sudarshan.com
Website :	http://www.sudarshan.com

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Pradeep Ramwilas Rathi

Designation :

Nominee Director

Address :

2, Boat Club Road, Pune - 411001, Maharashtra, India

Date of Birth:

20.05.1953

Date of Appointment :

03.03.2015

DIN No.:

00018577

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	08/11/1995	-
L29120PN2009PLC133351	KIRLOSKAR OIL ENGINES LIMITED	07/08/2015	-
L29150PN1989PLC054143	SANGHVI MOVERS LIMITED	27/07/2007	-
L31300MH1967PLC016531	FINOLEX CABLES LIMITED	10/05/2007	-
U17119MH1940PTC003210	RATHI BROTHERS PRIVATE LIMITED	22/03/2003	-
U24100PN2008PTC132573	RATHI ENTERPRISES PRIVATE LIMITED	06/08/2008	-
U24114PN2003PTC018532	CLEAN SCIENCE AND TECHNOLOGY PRIVATE LIMITED	15/12/2006	-
U24118MH1975PLC018631	RIECO INDUSTRIES LIMITED	10/02/2015	-
U24229PN2006PLC128651	PRESCIENT COLOR LIMITED	23/06/2006	-
U24299PN2016PTC165944	RABRO SPECIALITY CHEMICALS PRIVATE LIMITED	11/08/2016	-

Name :

Mr. Rajesh Balkrishna Rathi

Designation :

Nominee Director

Address :

Sr. No. 277, Plot No. 4/8, Lane No. 3, Pallod Farm, Pune - 411045, Maharashtra, India

Date of Birth:

13.11.1968

Date of Appointment :

03.03.2015

DIN No.:

00018628

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	01/04/2014	-
U17119MH1940PTC003210	RATHI BROTHERS PRIVATE LIMITED	30/09/1997	-
U24100MH1961PTC012038	MARATHWADA CHEMICAL INDUSTRIES PRIVATE LIMITED	30/09/2015	-
U24100PN2008PTC132573	RATHI ENTERPRISES PRIVATE LIMITED	06/08/2008	-
U24118MH1975PLC018631	RIECO INDUSTRIES LIMITED	10/02/2015	-
U24229PN2006PLC128651	PRESCIENT COLOR LIMITED	23/06/2006	-
U24299PN2016PTC165944	RABRO SPECIALITY CHEMICALS PRIVATE LIMITED	11/08/2016	-
U51909PN1999PLC014039	RATHI BROTHERS POONA LIMITED	01/10/1999	-
U51909PN2000PLC015169	RATHI BROTHERS MADRAS LIMITED	01/08/2000	-
U51909PN2000PLC015170	RATHI BROTHERS CALCUTTA LIMITED	01/08/2000	-

KEY EXECUTIVES

Name :	Mr. Milind
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders		No. of Shares
Sudarshan Chemical Industries Limited		9999
Rajesh Balkrishna Rathi		1

Total		10000

AS ON: 30.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters (Individual/Hindu Undivided Family - Indian)	0.01
Promoters (Body corporate)	99.99

Total	100.00

BUSINESS DETAILS

Line of Business :	Subject carry on among: (a) Promotion of Education and (b) Enhancing Vocational Skills, Eradication of hunger and promoting hygiene, (c) promotion of sports, (d) protection of national heritage and promotion and development of traditional arts, (e) promotion of gender equality and (f) other infrastructure that would help meet the objectives of environment sustainability such as waste management, vermin-culture, organic farming, etc. [Registered Activity]

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Not Divulged

Purchasing :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	--
Person Name (with Designation):	--
Contact Number:	--
Name of Account Holder:	--
Account Number:	--
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	--

Facilities :


Auditors :
Name :	A.H. Joshi and Company Chartered Accountants
Address :	1907, Sadashiv Peth, Natu Baug, Pune - 411030, Maharashtra, India
Tel. No.:	91-20-24472948/ 24471625/ 24472644
Fax No.:	91-20-24460742
Income-tax PAN of auditor or auditor's firm :	AADFA6011E

Memberships :	Not Available

Collaborators :	Not Available

Holding Company :	Sudarshan Chemical Industries Limited

CAPITAL STRUCTURE

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

500000	Equity Shares	INR 10/- each	INR 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	INR 10/- each	INR 0.100 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	(0.091)	0.035
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	0.009	0.135

(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.035	0.025
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	0.035	0.025

TOTAL	0.044	0.160

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.000	0.000

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	0.044	0.160
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.000	0.000
Total Current Assets	0.044	0.160

TOTAL	0.044	0.160

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Revenue from Operations	0.111	1.448
		Other Income	0.000	0.000
		TOTAL	0.111	1.448

Less	EXPENSES
		Other expenses	0.238	1.409
		TOTAL	0.238	1.409

	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.127)	0.039

Less	FINANCIAL EXPENSES		0.000	0.000

	PROFIT/(LOSS)BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.127)	0.039

Less/ Add	DEPRECIATION/ AMORTISATION		0.000	0.000

	PROFIT/(LOSS)BEFORE TAX		(0.127)	0.039

Less	TAX		0.000	0.000

	PROFIT/(LOSS)AFTER TAX		(0.127)	0.039

	Earnings/(Loss) Per Share (INR)		(12.66)	3.54

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2017	31.03.2016
Current Maturities of Long term debt	NA	NA

Cash generated from operations	NA	NA

Net Cash flow from (used in) Operations	(0.116)	0.060

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Average Collection Days (Sundry Debtors / Income 365 Days)*	0.00	0.00

Account Receivables Turnover (Income / Sundry Debtors)	0.00	0.00

Average Payment Days (Sundry Creditors / Purchases 365 Days)*	0.00	0.00

Inventory Turnover (Operating Income / Inventories)	0.00	0.00

Asset Turnover (Operating Income / Net Fixed Assets)	0.00	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.80	0.16

Debt Equity Ratio (Total Liability / Networth)	0.00	0.00

Current Liabilities to Networth (Current Liabilities / Net Worth)	3.89	0.19

Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00	0.00

Interest Coverage Ratio (PBIT / Financial Charges)	0.00	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016
Net Profit Margin ((PAT / Sales) 100)*	%	(114.41)	2.69

Return on Total Assets ((PAT / Total Assets) 100)*	%	(288.64)	24.38

Return on Investment (ROI) ((PAT / Networth) 100)*	%	(1411.11)	28.89

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Current Ratio (Current Assets / Current Liabilities)	1.26	6.40

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.26	6.40

G-Score Ratio Financial (Networth / Total Assets)	0.20	0.84

G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.26	6.40

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2016	31.03.2017
	INR In Million	INR In Million
Share Capital	0.100	0.100
Reserves & Surplus	0.035	(0.091)
Money received against share warrants	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	0.135	0.009

long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	1.448	0.111
		(92.334)

NET PROFIT MARGIN

Net Profit Margin	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	1.448	0.111
Profit/(Loss)	0.039	(0.127)
	2.69%	(114.41%)

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	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
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	Yes
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last two years	Yes
30	Major shareholders, if available	Yes
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

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY

COMPANY OVERVIEW

The company was incorporated in India on 3rd March, 2015 as a “Not for profit company” under section 8 of the companies Act, 2013. The company has allotted Unique Identification No. U74900PN2015NPL154211. The is a wholly owned subsidiary of Sudarshan Chemical Industries Limited.

The company has been incorporated to carry on CSR activities as envisaged under section 135 of the companies act 2013 that would include among others promotion of education and enhancing vocational skills, eradication of hunger and promoting hygiene, promotion of sports, protection of national heritage and promotion and development of traditional arts, promotion of gender equality and other infrastructure that would help meet the objectives of environment sustainability such as waste management, vermin-culture, organic farming, etc.

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 66.02
UK Pound	1	INR 92.73
Euro	1	INR 81.46

INFORMATION DETAILS

Information Gathered by :	SHK

Analysis Done by :	DIV

Report Prepared by :	ARC

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.