MIRA INFORM REPORT

Report No. :	490628.2
Report Date :	20.02.2018

IDENTIFICATION DETAILS

Name :	BALAJI CERAMICS
Registered Office :	No. 1164, 42^nd Cross, P.P. Layout, Bangalore – 560061, Karnataka
Mobile No.:	91-9535155321 (Mr. B. Balaji) 91-9916163263 (Mr. Kumar)
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment:	August 2012
Capital Investment / Paid-up Capital :	Not Divulged
TIN No.:	Not Available
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
GSTN : [Goods & Service Tax Registration No.]	29AASFB2247G1Z8
PAN No.: [Permanent Account No.]	AASFB2247G
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Trader of Ceramic Tiles. (Confirmed by management)
No. of Employees :	09 (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 :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a partnership firm established in the year 2012 and it is a trader of ceramic tiles. Mr. B. Balaji (Partner) has provided information and that the subject has achieved a sales turnover of INR 23 million in the FY 2017 and INR 20 million in the FY 2016. However, the figures are not verified. Further, he also claimed that the subject’s expected sales turnover for the FY 2018 is INR 30 million. Rating is constrained on account of subject’s no trace at the given address Payments seem to be slow. In view of aforesaid, the subject can be considered for business dealings at safe and secured trade terms and conditions. Note 1: Site visit was conducted at the given address which you have provided. Our executive has successfully traced the given address but the door was locked. As per our executive’s observation, location was difficult to find and locality seems to be commercial. Area seems to be upmarket. Local people were not available at the time of the visit as it is a restricted area. During the visit, our executive contacted Mr. Balaji (Owner) but he was non-cooperative. Name board of the subject was not sighted at the given address. Note 2: Further, when our executive contacted Mr. Balaji (Owner), he asked us to visit on another address i.e. “Karnataka Bank Upstairs, Near Indian Petrol Bunk, Kadrenathali, Bangalore-560061”. Site visit was conducted on the address which was provided by the owner but the address belongs to “RAK Ceramics”. At the premises, our executive met Mr. Rajendra Naidu (Maintenance Manager of RAK Ceramic) who claimed that the subject exists on the given address and also stated that “Balaji Ceramic” name is yet to be updated in the name board. Name board of the subject was not sighted at the given address but “RAK Ceramic” name board was sighted at the premises.

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

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 20.02.2018

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. B. Balaji
Designation :	Partner
Contact No.:	91-9535155321
Date :	06.02.2018

LOCATIONS

Registered Office :	No. 1164, 42^nd Cross, P.P. Layout, Bangalore – 560061, Karnataka, India
Tel. No.:	Not Available
Mobile No.:	91-9535155321 (Mr. B. Balaji) 91-9916163263 (Mr. Kumar)
Fax No.:	Not Available
E-Mail :	Balajiceramics18@gmail.com
Area :	1000 sq. ft. (As per site visit)
Location:	Owned
Locality :	Commercial

PARTNERS

Name :	Mr. B. Kumar
Designation :	Partner
Qualification :	B.Com
Experience :	7 Years
Name :	Mr. B. Balaji
Designation :	Partner
Qualification :	B.Com
Experience :	7 Years

BUSINESS DETAILS

Line of Business :	Trader of Ceramic Tiles. (Confirmed by management)
Products :	Ceramic Tiles
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Credit (60 / 90 Days)
Purchasing :	Credit (60 / 90 Days)

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesalers

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

No. of Employees :

09 (Approximately)

Bankers :

Bank Name	IDBI Bank
Branch	Bangalore, Karnataka, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	Current A/c
Account Operation	--
Remarks (If any)	--

Auditors :

Name :

Mr. Narsimvallo

Chartered Accountants

Memberships :

Not Available

Collaborators :

Not Available

Sister Concern:

Not Available

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	--
Total :	Not Divulged

FINANCIAL DATA

[all figures are in INR Million]

Particulars	31.03.2017	31.03.2016
Sales Turnover (Approximately)	23.000	20.000

Expected Sales (2017-2018) : INR 30.000 Million (Due to business growth)

The above information has been parted by Mr. B. Bajali (Partner)

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)
Sales Turnover (Approximately)	20.000	23.000
		15.000

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	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	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	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last three years	No
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 FORM - 1

COMPANY NAME: BALAJI CERAMICS

ADDRESS: No. 1164, 42^nd Cross, P.P. Layout, Bangalore – 560061, Karnataka, India

NAME BOARD: NOT SIGHTED

LOCATION: DIFFICULT

LOCALITY: COMMERCIAL

AREA: UPMARKET

PROOF OF VISIT: PHOTOGRAPH

OBSERVATION FORM - 2

COMPANY NAME: BALAJI CERAMICS

ADDRESS: Karnataka Bank Upstairs, Near Indian Petrol Bunk, Kadrenathali, Bangalore-560061, Karnataka, India

CONTACT NO: 91-9535155321

PERSON TO WHOM WE MET: Mr. Rajendra Naidu DESIGNATION: Maintenance Manager of RAK Ceramics

NAME BOARD: NOT SIGHTED (Sighted name board of “RAK Ceramics”)

LOCATION: DIFFICULT

LANDMARK (IF ANY): KARNATAKA BANK

TOTAL FLOORS OF THE BUILDING: GROUND + 3

SUBJECT SITUATED ON : 1ST FLOOR

LOCALITY: COMMERCIAL

AREA OF PREMISES: 1000 (SQ. FT.)

AREA: UPMARKET

NO. OF EMPLOYEES SEEN AT PREMISES: 1

VISIBILITY OF ITEMS:

TELEPHONE

FURNITURE ITEMS SIGHTED: YES

NEIGHBOUR’S INTERVIEW

1) NAME OF COMPANY: Karnataka Bank

PROOF OF VISIT: PHOTOGRAPH

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 63.90
UK Pound	1	INR 90.31
Euro	1	INR 80.16

INFORMATION DETAILS

Information Gathered by :	SLK
Analysis Done by :	VIV
Report Prepared by :	SUJ

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.