MIRA INFORM REPORT

Report No. :	489181
Report Date :	02.02.2018

IDENTIFICATION DETAILS

Name :	CREW BUSINESS SYSTEMS
Registered Office :	214, Jhalawar E.S. Patanwala Compound, L.B.S. Marg, Ghatkopar (West), Mumbai - 400086, Maharashtra
Tel. No.:	91-22-25007788/8485
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	1994
Capital Investment / Paid-up Capital :	INR 13.190 Million
IEC No.:	Not Divulged
GSTIN/UIN:	27AACFC1503A1ZE
TIN No.:	27090129151
PAN No.: [Permanent Account No.]	AACFC1563A
Legal Form :	Partnership Concern with an unlimited liability of the partners
Line of Business :	Trader and Dealer of Office Automation Products, Photocopier Machines Projectors and Telephone Instruments. [Confirmed by management]
No. of Employees :	20 (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 38000 (INR 2428010.00)
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a partnership concern established in the year 1994. It is a trader and dealer of office automation products, photocopier machine, projectors and telephone instruments. As per the financial records of 2017, the concern has achieved sales turnover of INR 228.85 million for the financial year 2017 and has earned average profitability margin. The overall financial position of the concern seems to be satisfactory marked by adequate capital base along with acceptable debt level. Payment seems to be usually correct. In view of aforesaid, the concern can be considered for business dealings at usual trade terms and condition. NOTE: Site visit was conducted at the address which you have provided and our executive has successfully traced the subject on the given address. At the premises our executive met Ms. Sarita Powle (Accounts Head) and she provided the contact details and confirmed the subject’s existence. As per our executive’s observation, it is 3 storey building and subject is situated on the 2nd floor of the building. Location was easy to find. Locality appears to be commercial. Area seems to be down market. Area of premises is 400 (sq. ft.). Approx. 4 employees were sighted in the office. Name board of the subject was sighted at the given address.

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 (30.06.2017)	Current Rating (30.09.2017)
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 31-03-2016.

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 02.02.2018

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. Samir Lakhani
Designation :	Partner
Contact No.:	91-9167780875
Date :	01.02.2018

LOCATIONS

Registered Office :	214, Jhalawar E.S. Patanwala Compound, L.B.S. Marg, Ghatkpar (West), Mumbai - 400086, Maharashtra, India
Tel. No.:	91-22-25007788/8485
Mobile No.:	91-9167780875 (Mr. Samir Lakhani)
Fax No.:	91-22-25005203
E-Mail :	info@crewindia.com samir@crewindia.com
Website :	http://www.crewindia.com
Area:	400 Sq. ft. (As per site visit)
Location:	Commercial (As per site visit)

PARTNERS

Name :	Mr. Samir Lakhani
Designation :	Partner
Date of Birth/Age :	46 Years
Qualification :	Graduate
Name :	Mrs. Dipti Lakhani
Designation :	Partner
Date of Birth/Age :	46 Years
Qualification :	Graduate

BUSINESS DETAILS

Line of Business :	Trader and Dealer of Office Automation Products, Photocopier Machines Projectors and Telephone Instruments. [Confirmed by management]
Products :	· Office Automation Products · Photocopier Machines Projectors · Telephone Instruments
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Raw Material
Countries :	Vietnam
Terms :
Selling :	Cash and Credit (30/60/90 Days)
Purchasing :	Cash and Credit (30/60/90 Days)

GENERAL INFORMATION

Suppliers :

Reference :	Samsung India Private Limited
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Retailers, End Users

• ICICI Bank
• SBI Life Insurance

Reference :	Axis Bank Limited
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

20 (Approximately)

Bankers :

Banker Name :	Union Bank of India
Branch :	Sion (East), Mumbai, Maharashtra, India
Person Name (With Designation) :	--
Contact Number :	91-22-24072746
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 :	Continuously Ringing

Auditors :
Name :	ATMS and Company LLP Chartered Accountants
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	Crew Business Services

CAPITAL STRUCTURE

AS ON 31.03.2017

PARTICULAR	INR in Million
Partners Capital Account	INR 13.190 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
EQUITY AND LIABILITIES
1] Partners Capital Account		13.190
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		13.190
LOAN FUNDS
1] Secured Loans		11.892
2] Unsecured Loans		9.435
TOTAL BORROWING		21.327
DEFERRED TAX LIABILITIES		0.000
TOTAL		34.517
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.747
Capital work-in-progress		0.000
INVESTMENT		4.891
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	29.274
	Sundry Debtors	27.536
	Cash & Bank Balances	0.208
	Other Current Assets	1.846
	Loans & Advances	0.000
Total Current Assets		58.864
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	30.041
	Other Current Liabilities	0.944
	Provisions	0.000
Total Current Liabilities		30.985
Net Current Assets		27.879
MISCELLANEOUS EXPENSES		0.000
TOTAL		34.517

PROFIT & LOSS ACCOUNT

Particulars	31.03.2016
Sales Turnover (Approximately)	170.000

	PARTICULARS	31.03.2017
	SALES
	Income	228.855
	Other Income	0.542
	TOTAL	229.397
Less	EXPENSES
	Cost of Materials Consumed	0.000
	Purchases of Stock-in-Trade	203.270
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.687)
	Remunation to partner	1.800
	Intesrest on partner	1.047
	Employees benefits expense	2.929
	Other expenses	13.637
	TOTAL	221.996
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	7.401
Less	FINANCIAL EXPENSES	2.929
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	4.472
Less/ Add	DEPRECIATION/ AMORTISATION	0.297
	PROFIT/ (LOSS) BEFORE TAX	4.175

Expected Sales (2017-2018): INR 400.000 Million (Due to business growth)

The above information has been parted by Mr. Samir Lakhani (Partner)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	43.92
Account Receivables Turnover (Income / Sundry Debtors)	8.31
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	53.94
Inventory Turnover (Operating Income / Inventories)	0.25
Asset Turnover (Operating Income / Net Fixed Assets)	4.24

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.80
Debt Equity Ratio (Total Liability / Networth)	1.62
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.06
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.13
Interest Coverage Ratio (PBIT / Financial Charges)	2.53

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	1.82
Return on Total Assets ((PAT / Total Assets) * 100)	%	6.37
Return on Investment (ROI) ((PAT / Networth) * 100)	%	31.65

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.46
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.73
G-Score Ratio Financial (Networth / Total Assets)	0.20
G-Score Ratio Debt (Debts / Equity Capital)	1.62
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.46

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

FINANCIAL ANALYSIS

[all figures are INR Million]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	170.000	229.397
		34.939

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	Yes
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	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 (As per site visit)	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
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	No
26	Turnover of firm for last two 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	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OBSERVATION POINTS

Name of Company :	CREW BUSINESS SYSTEM
Address :	214, Jhalawar E.S. Patanwala Compound, L.B.S. Marg, Ghatkpar (West), Mumbai - 400086, Maharashtra, India
Mobile No.:	91-9167780875
Person to whom we met:	Name: Ms. Sarita Powle Designation: Accountants Head
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	Near Patanwala Compound
Total Floors of the building:	03
Subject situated on:	2 Floor
Locality:	Commercial
Area of premises :	400 Sq. ft.
Area :	Downmarket
No. of employees seen at premises:	04
Visibility of Items:	Telephone Computers Air Conditioner Office Equipment
Furniture items sighted :	Yes
Proof of visit:	Photographs

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 63.61
UK Pound	1	INR 90.17
Euro	1	INR 78.94

INFORMATION DETAILS

Information Gathered by :	SHW
Analysis Done by :	NIY
Report Prepared by :	NKTS

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.