MIRA INFORM REPORT

Report No. :	492122
Report Date :	17.02.2018

IDENTIFICATION DETAILS

Name :	JADE GRANITES INDUSTRIES PRIVATE LIMITED
Registered Office :	304, Banker House, Opposite Golden Triangle Building, Near Sardar Patel Stadium, Navrangpura, Ahmedabad-380009, Gujarat
Tel. No.:	91-79-66620762
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	28.07.2016
Com. Reg. No.:	04-093128
Capital Investment / Paid-up Capital :	INR 49.985 Million
CIN No.: [Company Identification No.]	U14294GJ2016PTC093128
IEC No.:	Not Divulged
GST No.:	24AADCJ7631G1ZP
TIN No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCJ7631G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Dealing of Granites, Marble, Tiles, Marble Stones and Other Building Materials. [Registered Activity and also Confirmed by Management]
No. of Employees :	100 (Approximately)

RATING & COMMENTS

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

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Recently started its business operation
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a newly established company incorporated in the year 2016. It is engaged as manufacturing of granites, marbles, tile marble stones and other building material. Mr. Samir Patel (Accounts Manager) provided information and claimed that the subject has started its business operation from January 2018. As per available financials of 2017, the general financial position of the company is marked by average capital base. Payments seems to be unknown. In view of aforesaid, the company can be considered for business dealing at fully safe and secured 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 (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

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 17.02.2018.

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 [GENERAL DETAILS]

Name :	Mr. Samir Patel
Designation :	Accounts Manager
Contact No.:	91-79-66620762
Date :	16.02.2018

LOCATIONS

Registered Office :	304, Banker House, Opposite Golden Triangle Building, Near Sardar Patel Stadium, Navrangpura, Ahmedabad-380009, Gujarat, India
Tel. No.:	91-79-66620762/ 66630762
Fax No.:	91-79-66621035
E-Mail :	jadegranites@icloud.com accounts@jadegroups.com info@jadegroups.com
Website :	http://jadeind.com www.jadegroups.com
Factory :	Plot No. 48-53, Jade Granites Park, Phundhor, Himat Nagar, District Sabarkantha-383010, Gujarat, India
Area :	21323 Sq. Ft.

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Jaydev Ambalal Patel

Designation :

Director

Address :

33, Rajdeep Society, Nr. Gayatri Mandir, Ranip, Ahmedabad-382480, Gujarat, India

Date of Appointment :

28.07.2016

DIN No.:

01134936

Name :

Mr. Mrugal Dilipbhai Sompura

Designation :

Director

Address :

Lane-24, Bunglows No.555, Satyagrah Chavnni, Jodhpur, Ahmedabad-380015, Gujarat, India

Date of Appointment :

28.07.2016

DIN No.:

01182935

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U29120GJ2013PTC073799	PROGRACE TECHNOLOGIES PRIVATE LIMITED	01/03/2013
U45201GJ1994PTC022864	PRONEEL TECHNOLOGIES PVT LTD	01/04/2000

Name :

Mr. Ritesh Choudhary

Designation :

Director

Address :

A-19, R.K. Colony, Opposite Park, Bhilwara-311001, Rajasthan, India

Date of Appointment :

28.07.2016

DIN No.:

02195840

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U14108RJ2011PTC037160	PARAS MINING PRIVATE LIMITED	28/11/2011
U24100RJ2008PTC026775	PARAS FERTICHEM PRIVATE LIMITED	13/06/2008
U67200RJ2009PTC028407	PARAS COMMOBROKING PRIVATE LIMITED	05/03/2009

Name :

Mr. Harpalsingh Munnalal Yadav

Designation :

Director

Address :

233 Manglam Street, Near Yashvi Flats Mahavirnagar, Himatnagar, Sabarkantha- 383001, Gujarat, India

Date of Appointment :

28.07.2016

DIN No.:

02424763

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U74210RJ1994PTC008522	UDAIPUR MINTECH PRIVATE LIMITED	01/01/2005

Name :

Mr. Dipakkumar Amrutlal Patel

Designation :

Director

Address :

33, Rajdeep Society, Near Balkrishna Mandir Ranip, Ahmedabad-382480, Gujarat, India

Date of Appointment :

28.07.2016

DIN No.:

06531852

Name :

Mr. Ankitkumar Patel

Designation :

Director

Address :

12 C O Radhe Greenz Kudasan, Gandhinagar-382421, Gujarat, India

Date of Appointment :

28.07.2016

DIN No.:

06619570

Name :

Mr. Hardikkumar Patel

Designation :

Director

Address :

12 Radhe Greens Bunglows At & Post Kudasan, Gandhinagar-382421, Gujarat, India

Date of Appointment :

28.07.2016

DIN No.:

07441748

KEY EXECUTIVES

Name :	Mr. Samir Patel
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders	No. of Shares	Percentage of Holding
Jaydev Ambalal Patel	1002600	20.06
Ankitkumar Jashubhai Patel	601750	12.04
Hardikkumar Jashubhai Patel	601750	12.04
Harpalsingh Munnalal Yadav	1500	0.03
Ritesh Gulab Singh Choudhary	1001000	20.03
Dipakkumar Amrutlal Patel	1000900	20.02
Mrugal Dilipbhai Sompura	250000	5.00
Mahipalsinh Thansingh Deora	289000	5.78
Gulabkumari Rajendrasinh Kumpavat	125000	2.50
Tejal Ashishbhai Adalja	125000	2.50
Total	4998500	100.00

AS ON: 30.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters – Individual/ Hindu Undivided Family – Indian	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Dealing of Granites, Marble, Tiles, Marble Stones and Other Building Materials. [Registered Activity and also Confirmed by Management]
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Not Available
Countries :	Not Available
Imports :
Products :	Raw Material
Countries :	· Italy · Turkey
Terms :
Selling :	Others [NEFT, RTGS]
Purchasing :	Others [NEFT, RTGS]

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 :

End Users and OEMs

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

No. of Employees :

100 (Approximately)

Bankers :

Bank Name:	Thane Janata Sahakari Bank Limited
Branch:	10,11,12, Ground Floor, The Grand Monarch Complex, Prahlad Nagar Road, Satellite, Ahmedabad-380015, Gujarat, India
Person Name (with Designation):	--
Contact Number:	91-79-26765290
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:	Number is continuously ringing

Facilities :

SECURED LOANS	31.03.2017 (INR In Million)
LONG-TERM BORROWINGS
Term Loan with Thane Janata Sahakari Bank Limited, Ahmedabad	98.920
Total	98.920

Auditors :
Name :	Pranav Vyas and Associates Chartered Accountants
Address :	205, 2nd Floor, Sun Complex-II, Behind Hotel Navjivan, Motipura, Himatnagar-383001, Gujarat, India
Tel. No.:	91-2772-228621
Mobile No.:	91-9925399621
E-Mail :	ca.pranav09@gmail.com
PAN No.:	AENPV4345Q
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	INR 10/- each	INR 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4998500	Equity Shares	INR 10/- each	INR 49.985 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	49.985
(b) Reserves & Surplus	0.000
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	49.985
(3) Non-Current Liabilities
(a) Long-term borrowings	133.277
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	133.277
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	0.931
(d) Short-term provisions	0.000
Total Current Liabilities (4)	0.931
TOTAL	184.193
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	49.381
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.950
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	7.045
Total Non-Current Assets	57.376
(2) Current assets
(a) Current investments	117.919
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	8.898
(e) Short-term loans and advances	0.000
(f) Other current assets	0.000
Total Current Assets	126.817
TOTAL	184.193

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017
	SALES
		Revenue from Operations	0.000
		Other Income	0.000
		TOTAL	0.000
Less	EXPENSES
		Cost of Materials Consumed	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000
		Employees benefits expense	0.000
		TOTAL	0.000
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.000
Less	FINANCIAL EXPENSES		0.000
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.000
Less/ Add	DEPRECIATION/ AMORTISATION		0.000
	PROFIT/ (LOSS) BEFORE TAX		0.000
Less	TAX		0.000
	PROFIT/ (LOSS) AFTER TAX		0.000
	IMPORTS
		Capital Goods	92.468
	TOTAL IMPORTS		92.468
	Earnings/ (Loss) Per Share (INR)		0.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2017
Current Maturities of Long term debt	NA
Cash generated from operations	NA
Net Cash flow from (used in) Operations	NA

KEY RATIOS

EFFICIENCY RATIOS

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

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.73
Debt Equity Ratio (Total Liability / Networth)	2.67
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.02
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.99
Interest Coverage Ratio (PBIT / Financial Charges)	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.00
Return on Investment (ROI) ((PAT / Networth) * 100)	%	0.00

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	136.22
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	136.22
G-Score Ratio Financial (Networth / Total Assets)	0.27
G-Score Ratio Debt (Debts / Equity Capital)	2.67
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	136.22

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	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
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	Yes
22	Conduct of the banking account	Yes
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	Yes
31	Litigations that the firm/promoter involved in	--
32	Market information	--
33	Payments terms	Yes
34	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G40769002	100089214	TJSB Sahakari Bank Limited	30/03/2017	-	-	160000000.0	PRAHLADNAGAR BRANCHSHOP NO 10 TO 12 GRAND MONARCH SATELLITEAHMEDABADGJ380015IN
2	G40769333	100089215	TJSB Sahakari Bank Limited	30/03/2017	-	-	177000000.0	PRAHLADNAGAR BRANCHSHOP NO 10 TO 12 GRAND MONARCH SATELLITEAHMEDABADGJ380015IN

UNSECURED LOANS

PARTICULARS	31.03.2017 (INR In Million)
LONG-TERM BORROWINGS
Unsecured Loan	34.357
Total	34.357

BUSINESS OVERVIEW DURING THE YEAR :-

a) REVIEW OF BUSINESS OPERATIONS

JADE GRANITES INDUSTRIES, the Partnership Firm / Joint Stock Company was carrying on the business since 20-05-2015 and Registered as Private Limited Company under the name and style of JADE GRANITES INDUSTRIES PRIVATE LIMITED having share capital and with limited liability, as defined under Section 366 and all other relevant provisions of the Companies Act, 2013 on 28^th July 2016. And having CIN is U14294GJ2016PTC093128.

The Company is in the process of establishing its project of manufacturing of granites and marble stones and other building materials at its own NA land admeasuring 21323.77 sq meters, situated and lying at Village Dhundhor Taluka Himmatnagar Dist Sabarkantha with the capital cost of INR 250.000 Million.

The TJSB Sahakari Bank Ltd, Prahladnagar Branch, Ahmedabad has sanctioned the Credit facilities with aggregate limits of INR 160.000 Million (Term Loan of INR 130.000 Million and Fund and Non Fund Based Working Capital of INR 30.000 Million) to the company. The company is in the process of establishing it manufacturing plant and not yet commenced any business activities during the year.

FIXED ASSETS:

Tangible Assets

· Land and Land Development

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer

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 63.91
UK Pound	1	INR 90.31
Euro	1	INR 80.17

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	NIS
Report Prepared by :	IND

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	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.