MIRA INFORM REPORT

Report No. :	504628
Report Date :	27.04.2018

IDENTIFICATION DETAILS

Name :	PERFECT ENGINEERING GROUP
Registered Office :	Plot No. PB-3/ 3035, Saptasati Vihar, Palasuni, Bhubaneswar 751010, Odisha
Mob. No.:	91-8908443998 (Mr. Binayak Senapati)
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	2015 (Confirmed by Management)
Capital Investment :	INR 1.509 Million
IEC No.: [Import-Export Code No.]	Not Divulged
TIN No.:	21465504447
GSTN : [Goods & Service Tax Registration No.]	21AARFP4288N1ZJ
PAN No.: [Permanent Account No.]	AARFP4288N
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners (Confirmed by Management)
Line of Business :	Trader of Fasteners like Nut and Bolt and Distributor of Industrial Safety Googles, Industrial Safety Helmet and Industrial Safety Shoes. [Confirmed by Management]
No. of Employees :	03 (Approx.) [As per Site Visit]

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 4300 (INR 287390.50)
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

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 27.04.2018

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. Binayak Senapati
Designation :	Partner
Contact No.:	91-8908443998
Date :	27.04.2018

LOCATIONS

Registered Office :	Plot No. PB-3/ 3035, Saptasati Vihar, Palasuni, Bhubaneswar 751010, Odisha, India
Tel. No.:	Not Available
Mobile No.:	91-8908443998 (Mr. Binayak Senapati)
Fax No.:	Not Available
E-Mail :	perfectgroup15@gmail.com
Area :	250 Sq. ft. [As per Site Visit]
Locality :	Residential [As per Site Visit]

PARTNERS (CONFIRMED BY MANAGEMENT)

Name :	Mr. Binayak Senapati
Designation :	Partner

NOTE: Denied to provide other partners names.

BUSINESS DETAILS

Line of Business :	Trader of Fasteners like Nut and Bolt and Distributor of Industrial Safety Googles, Industrial Safety Helmet and Industrial Safety Shoes. [Confirmed by Management]
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

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 :

03 (Approx.) [As per Site Visit]

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:	--

Auditors :
Name :	Kejriwal and Associates Chartered Accountants
Address :	Room No. 13 and 14, 1^st Floor, Apex Markfed complex, Cuttack Road, Kalpana Square, Bhubaneswar – 751006, Orissa, India
Telefax :	91-674-2310033
Mobile No.:	91-9437043043
E-Mail :	kejriwalfca@yahoo.com
Memberships :	Not Divulged
Collaborators :	Not Divulged
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

AS ON 31.03.2017

Name of the Partners	Opening Balance	Addition for the year	Share of Profit	Interest on Capital @12%	Salary for the year	Total	Drawings	Balance as on 31.03.2017
Binayak Senapati	0.269	0.000	0.029	0.032	0.192	0.523	0.005	0.518
Ganesh Vasant Shinde	1.170	0.000	0.029	0.141	0.120	1.459	0.468	0.991
Total	1.439	0.000	0.058	0.173	0.312	1.982	0.473	1.509

FINANCIAL DATA

[all figures are in INR Million]

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
SHAREHOLDERS FUNDS
1] Capital Account		1.509
2] Reserves & Surplus		0.000
NETWORTH		1.509
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.509
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.074
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.151
	Sundry Debtors	1.260
	Cash & Bank Balances	0.137
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		1.548
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.113
	Provisions	0.000
Total Current Liabilities		0.113
Net Current Assets		1.435
MISCELLANEOUS EXPENSES		0.000
TOTAL		1.509

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017
	SALES
		Sales Turnover	5.820
		Other Income	0.000
		TOTAL	5.820
Less	EXPENSES
		Cost of Goods sold	3.878
		Entry Tax	0.008
		Freight on Purchase	0.030
		Labour Loading and Unloading	0.526
		Salary, Bonus and Allowances	0.326
		Rent and Electricity	0.135
		Water Charges	0.004
		Printing and Stationaries	0.006
		Telephone Expenses	0.008
		Fuel Expenses	0.050
		Carriage Outward	0.099
		Office Expenses	0.053
		Travelling and Conveyance	0.031
		Postage and Courier	0.003
		Repair and Maintenance	0.012
		Staff Welfare	0.059
		Accounting Charges	0.003
		Audit and Filling Fees	0.011
		Interest on Partners Capital	0.173
		Partners Salary	0.312
		TOTAL	5.727
	PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		0.093
Less	FINANCIAL EXPENSES		0.003
	PROFIT BEFORE DEPRECIATION AND AMORTISATION		0.090
Less/ Add	DEPRECIATION/ AMORTISATION		0.032
	NET PROFIT		0.058

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	79.02
Account Receivables Turnover (Income / Sundry Debtors)	4.62
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00
Inventory Turnover (Operating Income / Inventories)	0.62
Asset Turnover (Operating Income / Net Fixed Assets)	1.26

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.07
Debt Equity Ratio (Total Liability / Networth)	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.07
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.05
Interest Coverage Ratio (PBIT / Financial Charges)	31.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	1.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	3.58
Return on Investment (ROI) ((PAT / Networth) * 100)	%	3.84

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	13.70
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	12.36
G-Score Ratio Financial (Networth / Total Assets)	0.93
G-Score Ratio Debt (Debts / Equity Capital)	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	13.70

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 [As per Site Visit]	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 [As per Site Visit]	Yes
17	Details of sister concerns	No
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 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 :	PERFECT ENGINEERING GROUP
Address :	Plot No. PB-3/ 3035, Saptasati Vihar, Palasuni, Bhubaneswar 751010, Odisha, India
Contact No.:	91-8908443998 (Mr. Binayak Senapati)
Date of Visit :	25.04.2018
Person to whom we met:	Staff [Name Not Divulged]
Name Board :	Sighted
Location:	Difficult
Total Floors of the Building :	Ground Floor + 2 Floors
Subject situated on:	Ground Floor
Locality:	Residential
Area of Premises :	250 Sq. ft.
Area :	Neutral
No. of employees seen at premises:	03 (Approx.)
Visibility of Items:	· Telephone · Furniture
Neighbours Interview :	During the visit, our executive met with neighbour companies (RK Marble and Biswal Builders) and they both confirmed that the subject exist on the given address.
Proof of visit:	Photos

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	Indian Rupees
US Dollar	1	INR 66.83
UK Pound	1	INR 93.17
Euro	1	INR 81.38

INFORMATION DETAILS

Information Gathered by :	SHA
Analysis Done by :	VIV
Report Prepared by :	BVA

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	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.