MIRA INFORM REPORT

Report No. :	491231
Report Date :	12.02.2018

IDENTIFICATION DETAILS

Name :	JP MODATEX LLP
Registered Office :	Unit No. 903, 9th Floor, Embassy Centre, 207, Backbay Reclamation, Nariman Point, Mumbai – 400021, Maharashtra
Tel. No.:	91-22-22045343/ 44
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	25.08.2015
LLPIN No:	AAE-6423
Total Obligation of Contribution:	INR 3.000 Million
IEC No.:	0315053232
GSTIN:	27AAALFJ3580B2ZE
TIN No:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAALFJ3580B2
Legal Form :	Limited Liability Partnership
Line of Business :	To carry on business of manufacturing, trading, packing, grading, crimping, twisting, texturing, bleaching, dyeing, printing, mercerizing or otherwise processing yarns, cloth, carpets, blankets and other textile goods. [Registered Activity and also Confirmed by management]
No. of Employees :	200 (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 110000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a limited liability partnership firm started in the year 2015 and it is having satisfactory track records. It is a manufacturer and trader of textile yarn. Ms. Nilakshi (Accountant) has provided general information and revenue figure for the (FY 2016-17 as INR 382 million and expected in FY 2017-18 as INR 639.8 million). However financials could not be verified. Further as per audited financials of 2016, the firm has achieved decent revenue from its operations and reported average profitability margin of 1.42%. Further, rating takes into consideration firm’s sound financial profile along with good reserves position and healthy revenue profile. However, rating strength is partially offset by short track records of business operation and intense competition from industry. Trade relations are reported as fair. Business is active. Payments are seems to be slow but correct. The firm 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 (31.03.2016)	Current Rating (30.06.2016)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	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.

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 12.02.2018

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.

INFORMATION PARTED BY

Name :	Mrs. Nilakshi
Designation :	Accountant
Contact No.:	91-22-22045343
Date :	09.02.2018

LOCATIONS

Registered Office :	Unit No. 903, 9th Floor, Embassy Centre, 207, Backbay Reclamation, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22045343/ 44
Fax No.:	Not Available
E-Mail :	jindasjain@gmail.com info@jpmodatex.com
Website :	http://www.jpmodatex.com
Area :	1250 Sq. Ft.
Location :	Rented
Locality :	Commercial
Spinning Unit :	Survey No.272/1/2, 274/4/1, 274/4/2, 274/3, 274/5/1 and 274/1, Jalaram Industrial Estate, 1^st Floor, Opposite RTO, Village Athal, Silvassa (DNH) – 396230, Dadra and Nagar, India
Tel. No.:	91-260-2642422

PARTNERS

As on: 31.03.2015

Name :

Mr. Rakesh Om Prakash Sharma

Designation :

Designated Partner

Address :

4b, Srivari Sushant, 84 Periaswamy Road, West R. S Puram, Coimbatore – 641002, Tamilnadu, India

Date of Appointment :

25.08.2015

DPIN No.:

01304684

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U17120MH2005PTC157035	Samosaran Yarns Private Limited	Director	21.05.2007

Name :

Mr. Jindas Pukhraj Jain

Designation :

Designated Partner

Address :

102, Dariyamahal, 17th Floor, 'A' Wing, 80, Nepeansea Road Mumbai – 400006, Maharashtra, India

Date of Appointment :

25.08.2015

DPIN No.:

01111351

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U17120MH2005PTC157035	Samosaran Yarns Private Limited	Director	25/10/2005
AAE - 6666	KLAN LE SOLUTIONS LLP	Designated Partner	21/08/2015
U17110MH2007PTC167952	Samosaran Syntex Private Limited	Director	23/02/2007

Name :

Mr. Tushar Ashokkumar Satiya

Designation :

Partner

Address :

A/601, Shankar Sheth Palace, J. D. Road, Nana Chowk, Mumbai – 400007, Maharashtra, India

Date of Appointment :

12.02.2016

PAN No.:

AUBPS3380E

Name :

Mr. Rashi Pratik Jain

Designation :

Partner

Address :

A/402/401, Vimlachal Building, 4th Floor, Seth Motisha Lane, Byculla, Mumbai – 400027, Maharashtra, India

Date of Appointment :

25.08.2015

PAN No.:

AKBPJ1150H

Name :

Mr. Pukhraj Bhurmal Shah

Designation :

Partner

Address :

83 / B, Nav Dariyamahal CHSL, 14th Floor, 80 Nepeansea Road, Mumbai – 400006, Maharashtra, India

Date of Appointment :

12.02.2016

PAN No.:

AFBPS3929N

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U17120MH2005PTC157035	Samosaran Yarns Private Limited	Director	25/10/2005
U17110MH2007PTC167952	Samosaran Syntex Private Limited	Director	23/02/2007

KEY EXECUTIVES

Name :	Mrs. Nilakshi
Designation :	Accountant

CONTRIBUTION DETAILS

As on: 31.03.2017

Names of Person	Obligation of Contribution (INR In Million)
Tushar Ashokkumar Satiya	0.100
Rashi Pratik Jain	0.100
Pukhraj Bhurmal Shah	0.100
Rakesh Kumar Sharma	0.750
Jindas Pukhraj Jain	1.950
Total	3.000

BUSINESS DETAILS

Line of Business :	To carry on business of manufacturing, trading, packing, grading, crimping, twisting, texturing, bleaching, dyeing, printing, mercerizing or otherwise processing yarns, cloth, carpets, blankets and other textile goods. [Registered Activity and also Confirmed by management]
Products :	Yarns Cloth Carpets Blankets Textile goods
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Finished Goods
Countries :	China
Imports :
Products :	Raw material
Countries :	China
Terms :
Selling :	Cash, Cheque and RTGS
Purchasing :	Cash, Cheque and RTGS

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

Retailers and End Users

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

No. of Employees :

200(Approximately)

Bankers :

Bank Name	Bank of Baroda
Branch	Malabar Hill Branch, 37-B, Dolat Niketan, Ridge Road, Mumbai-400006, Maharashtra, India
Person Name (With Designation)	--
Contact Number	91-22-23678217
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	Ringing
Email:	harkne@bankofbaroda.com

Auditors :
Name :	Sanghvi and Sanghvi Chartered Accountants
Address :	10, LA Citadelle, 2nd Floor, 99 Maharshi Karve Road, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-66333400
E-Mail :	casanghvi@gmail.com
Memberships :	---
Collaborators :	--
Associates/Subsidiaries :	---

CAPITAL STRUCTURE

As on: 31.03.2016

Total Obligation of Contribution: INR 3.000 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2016
EQUITY AND LIABILITIES
1] Contribution Received		3.000
2] Share Application Money		0.000
3] Reserves & Surplus		35.751
4] (Accumulated Losses)		0.000
NETWORTH		38.751
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		62.994
TOTAL LOANS		62.994
DEFERRED TAX LIABILITIES		0.424
TOTAL		102.169
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.671
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	52.633
	Sundry Debtors	48.874
	Cash & Bank Balances	0.203
	Loan and Advances	8.142
	Other current Assets	29.002
Total Current Assets		138.854
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	37.301
	Current Liabilities	0.00
	Provision	0.055
Total Current Liabilities		37.356
Net Current Assets		101.498
MISCELLANEOUS EXPENSES		0.000
TOTAL		102.169

PROFIT & LOSS ACCOUNT

	PARTICULARS		25.08.2015 to 31.03.2016
	SALES
		Income	90.934
		Other Income	0.806
		TOTAL	91.740
Less	EXPENSES
		Purchases made for re-sale	139.947
		Personnel Expenses	0.377
		Increase/(decrease) in stocks [including for raw materials, work in progress and finished goods]	(52.632)
		Administrative expenses	0.695
		Payment to auditors	0.046
		Selling expenses	0.717
		Insurance expenses	0.036
		Other expenses	0.037
		TOTAL	89.223
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		2.517
Less	FINANCIAL EXPENSES		1.139
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.378
Less	DEPRECIATION/ AMORTISATION		0.083
	PROFIT/ (LOSS) BEFORE TAX		1.295
Less	TAX		0.000
	PROFIT/ (LOSS) AFTER TAX		1.295

Particulars	31.03.2017
Sales Turnover (Approximately)	382.000
	(Due to Business Growth)

Expected Sales 2017-18): INR 639.800 million

The above information has been parted by Mrs. Nilakshi (Accountant)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	25.08.2015 to 31.03.2016
Current Maturities of Long term debt	NA
Cash generated from operations	NA
Net Cash flows from operating activities	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	25.08.2015 to 31.03.2016
Average Collection Days (Sundry Debtors / Income * 365 Days)	196.18
Account Receivables Turnover (Income / Sundry Debtors)	1.86
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	97.29
Inventory Turnover (Operating Income / Inventories)	0.05
Asset Turnover (Operating Income / Net Fixed Assets)	3.75

LEVERAGE RATIOS

PARTICULARS	25.08.2015 to 31.03.2016
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.72
Debt Equity Ratio (Total Liability / Networth)	1.63
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.59
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.02
Interest Coverage Ratio (PBIT / Financial Charges)	2.21

PROFITABILITY RATIOS

PARTICULARS		25.08.2015 to 31.03.2016
Net Profit Margin ((PAT / Sales) * 100)	%	1.42
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.93
Return on Investment (ROI) ((PAT / Networth) * 100)	%	3.34

SOLVENCY RATIOS

PARTICULARS	25.08.2015 to 31.03.2016
Current Ratio (Current Assets / Current Liabilities)	1.38
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.86
G-Score Ratio Financial (Networth / Total Assets)	0.28
G-Score Ratio Debt (Debts / Equity Capital)	21.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.38

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	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	No
18	Major suppliers	No
19	Major customers	No
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	Yes
26	Turnover of firm for 1 year and 7 Months	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last three 7 Months	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CAHREGS:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	M04846234	100121108	Bank of Baroda	08/08/2017	-	-	40000000.0	Malabar Hill Branch, 37-B, Dolat Niketan, Ridge Road, Mumbai-400006, Maharashtra, India
2	M01643675	100034258	Bank of Baroda	25/05/2016	-	-	345000000.0	Malabar Hill Branch, 37-B, Dolat Niketan, Ridge Road, Mumbai-400006, Maharashtra, India

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 64.37
UK Pound	1	INR 89.71
Euro	1	INR 78.89

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	PSD
Report Prepared by :	MTN

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	YES
--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.