MIRA INFORM REPORT

Report No. :	489919
Report Date :	06.02.2018

IDENTIFICATION DETAILS

Name :	NIKITA DISTRIBUTORS
Registered Office :	FL-1B, Plot No.410/2, Green Terrace, Near Vidyut Nagar, Lane No. 5, South Koregoan Park, Pune - 411001, Maharashtra
Mobile No.:	91-9967588171 [Mr. Raman Agarwal]
Country :	India
Financials (as on) :	31.03.2015
Year of Establishment :	2004
Capital Investment :	INR 35.367 Million
IEC No.:	3109017423
TIN No.:	Not Divulged
GST No.:	Not Divulged
PAN No.: [Permanent Account No.]	AJKPB8051B
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Importer and Distributor of Photography Equipment. [Confirmed by Management]
No. of Employees :	70 [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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a partnership firm established in the year 2004 and it is an Importer and Distributor of Photography Equipment. Mr. Raman Agarwal (Partner) has provided information and he claimed that the subject has achieved a sales turnover of INR 1000.000 million in the FY 2017 and INR 970.000 million in the FY 2016. However, the figures are not verified. Rating takes into consideration the subject’s established track record of business operations and sound sales turnover profile. Payment seems to be usually correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

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 06.02.2018.

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. Raman Agarwal
Designation :	Partner
Contact No.:	91-9967588171
Date :	02.02.2018

Given number [91-20-30500614] not working

LOCATIONS

Registered Office :	FL-1B, Plot No.410/2, Green Terrace, Near Vidyut Nagar, Lane No. 5, South Koregoan Park, Pune - 411001, Maharashtra, India
Tel. No.:	91-20-66050600/ 66050614
Mobile No.:	91-9967588171 [Mr. Raman Agarwal]
Fax No.:	Not Available
E-Mail :	raman.jpa@gmail.com
Website :	http://www.imaginext.co.in
Branch Offices :	Located at: · Mumbai · Bangalore · New Delhi · Kolkata · Chennai · Ahmedabad · Kerala · Margoa · Hyderabad · Mohali · Indore

PARTNERS

Name :	Mr. Raman Agarwal
Designation :	Partner
Date of Birth/Age :	30 Years
Qualification :	Graduate
Experience :	14 Years
Name :	Mr. Mohan Lal Bishnoi
Designation :	Partner
Address:	912, Sadashiv Peth, Flat No.7,  Deep Vijay Apartment , Pune - 411030, Maharashtra, India
Date of Birth/Age :	36 Years
Qualification :	HSC
Experience :	18 Years
Name :	Mr. Kamladevi Bishnoi
Designation :	Partner

BUSINESS DETAILS

Line of Business :	Importer and Distributor of Photography Equipment. [Confirmed by Management]
Products/ Services :	Photography Equipment
Brand Names :	Not Available
Agencies Held :	“Nikon”
Exports :	Not Available
Imports :
Products :	Photography Equipment
Countries :	· China · USA · Taiwan · Italy · South Korea · Germany
Terms :
Selling :	Cash, Advance Payment, L/C, Cheque and Credit [30 Days]
Purchasing :	Cash, Advance Payment, L/C, Cheque and Credit [30 Days]

GENERAL INFORMATION

Suppliers :

Reference:	Godox Photo Equipment Co. Limited, China
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

End Users and OEM’s

Reference:	Amazon
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

70 [Approximately]

Bankers :

Bank Name:	The Shamrao Vithal Cooperative Bank Limited
Branch:	Shop No. 9+014, Chaphalkar Centre, Market Yard, Pune, Maharashtra, India
Person Name (with Designation):	--
Contact Number:	91-20-4215075/ 46
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:	Numbers are continuously ringing

Auditors :
Name :	Anil Jakhaha and Company Chartered Accountants
Address :	Sowar Peth, Pune, Maharashtra, India
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	· Extreme Adventure Sports Address: 113, Plot No. 410/2, Green Terrace, Near Vidya Nagar, Pune – 411001, Maharashtra, India

CAPITAL STRUCTURE

AS ON 31.03.2015

Particulars	Amount in Million
Mohanlal Bishnoi	23.396
Kamladevi Bishnoi	5.037
Raman Agarwal	6.934
Total	35.367

FINANCIAL DATA

[all figures are in INR Million]

PARTICULARS	31.03.2017	31.03.2016
Sales Turnover (Approximately)	1000.000	990.000
	(Due to Increase in order)

The above information has been parted by Mr. Raman Agarwal (Partner)

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015
SHAREHOLDERS FUNDS
1] Partner’s Capital		35.367
2] Reserves & Surplus		0.000
NETWORTH		35.367
LOAN FUNDS
1] Secured Loans		133.857
2] Unsecured Loans		26.422
TOTAL BORROWING		160.279
DEFERRED TAX LIABILITIES		0.000
TOTAL		195.646
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.022
Capital work-in-progress		0.000
INVESTMENT		13.989
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	139.398
	Sundry Debtors	89.463
	Cash & Bank Balances	5.739
	Other Current Assets	0.928
	Loans & Advances	0.000
Total Current Assets		235.528
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	40.815
	Other Current Liabilities	15.078
	Provisions	0.000
Total Current Liabilities		55.893
Net Current Assets		179.635
MISCELLANEOUS EXPENSES		0.000
TOTAL		195.646

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015
	SALES
		Sales	909.268
		Other Income	15.003
		Stock TRF to EAS	0.318
		TOTAL	924.589
Less	EXPENSES
		Cost of Goods Sold	802.224
		Stock TRF EAS	28.452
		Transport Charges LBT and Other	2.304
		Advertisement Expenses	0.632
		Audit fees	0.160
		Courier expenses	0.015
		Discount	2.010
		Electricity Chares	0.317
		Interest	19.918
		Insurance	0.237
		Membership Fees	0.015
		Office expenses	1.035
		Petrol and Fuel expenses	0.657
		Postage	1.067
		Printing and Stationery	0.406
		Professional fees	0.809
		Professional tax	0.003
		Property Tax	0.000
		Repair and Maintenance	0.770
		Rent	2.541
		Salary	18.813
		Sales Promotion expenses	3.151
		Staff Welfare expenses	1.074
		Telephone charges	0.715
		Tour and Travelling Expenses	3.596
		Vat expenses	0.340
		Website Expenses	0.091
		Interest to Partners	4.571
		Remuneration to partners	16.813
		TOTAL	912.736
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		11.853
Less	FINANCIAL EXPENSES		0.321
	PROFIT BEFORE DEPRECIATION AND AMORTISATION		11.532
Less/ Add	DEPRECIATION/ AMORTISATION		0.473
	NET PROFIT		11.059

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	35.91
Account Receivables Turnover (Income / Sundry Debtors)	10.16
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	18.57
Inventory Turnover (Operating Income / Inventories)	0.09
Asset Turnover (Operating Income / Net Fixed Assets)	5.86

LEVERAGE RATIOS

PARTICULARS	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.86
Debt Equity Ratio (Total Liability / Networth)	4.53
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.33
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.06
Interest Coverage Ratio (PBIT / Financial Charges)	36.93

PROFITABILITY RATIOS

PARTICULARS		31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	1.22
Return on Total Assets ((PAT / Total Assets) * 100)	%	4.40
Return on Investment (ROI) ((PAT / Networth) * 100)	%	31.27

SOLVENCY RATIOS

PARTICULARS	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	2.86
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.17
G-Score Ratio Financial (Networth / Total Assets)	0.14
G-Score Ratio Debt (Debts / Equity Capital)	4.53
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.86

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

FINANCIAL ANALYSIS

[all figures are in Indian INR Million]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales Turnover (Approximately)	909.268	990.000	1000.000
		8.879	1.010

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
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 three years	Yes
27	Reasons for variation <> 20%	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

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 64.03
UK Pound	1	INR 90.40
Euro	1	INR 79.73

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	VIK
Report Prepared by :	ARC

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.