MIRA INFORM REPORT

Report No. :	492660
Report Date :	22.02.2018

IDENTIFICATION DETAILS

Name :	ECO GLOBAL SALES CORP
Registered Office :	Ghuman Complex, Jalandhar Road, Batala-143505, Punjab
Mobile No.:	91-9888884884 [Mr. Rohit Sharma]
Country :	India
Financials (as on) :	28.02.2018 [Provisional]
Year of Establishment :	June, 2016
Capital Investment :	INR 1.657 Million
IEC No.:	Not Divulged
TIN No.:	03922213281
GST No.:	03DOCPS9694B1ZP
PAN No.: [Permanent Account No.]	DOCPS9694B
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader, Dealer and Distributor of Solar Modules, Grid Tied Inverter, Cables, Structure, etc. [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 :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Relatively New Business
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a proprietorship concern established on June 2016. It is engaged as Trader, Dealer and Distributor of Solar Modules, Grid Tied Inverter, Cables, Structure, etc. As per the available financials of March 2017, the concern has achieved sales turnover of INR 1.84 million from its first year of its business operation along with fair profit margin of 19.87% during the year. However, the general financial position of the concern is marked by average capital base and strong debt protection metric. Further, as per provisional figures of February 2018, the concern has achieved sale turnover of INR 15.04 million. Further, the concern’s customer “Offcom Systems Private Limited” gave positive response and claimed that they are satisfied with the company’s product quality and delivery behaviour. The concern’s supplier “Vikram Solar” gave positive response and claimed that they are satisfied with the company’s payment behaviour and market goodwill. Even, the concern’s banker “HDFC Bank Limited” are satisfied with the payment behaviour and its banking transactions. However, rating strengths gets partially offset by its limited track record of its business operations. Payment seems to be slow but correct. In view of aforesaid, the concern can be considered for business dealings with some caution.

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

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 22.02.2018

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. Rohit Sharma
Designation :	Proprietor
Contact No.:	91-9888884884
Date :	18.02.2018

LOCATIONS

Registered Office :	Ghuman Complex, Jalandhar Road, Batala-143505, Punjab, India
Tel. No.:	Not Available
Mobile No.:	91-9888884884 [Mr. Rohit Sharma]
Fax No.:	Not Available
E-Mail :	rohit@egsolar.in
Website :	http://www.egsolar.in
Area :	1000 Sq. Ft.
Location :	Rented

SOLE PROPRIETOR

Name :	Mr. Rohit Sharma
Designation :	Proprietor
Address:	Khanda, Hola, Batala-143505, Punjab, India
Date of Birth/ Age:	28 Years
Qualification :	Post Graduate
Experience :	06 Years
PAN No.:	DOCPS9694B

BUSINESS DETAILS

Line of Business :	Trader, Dealer and Distributor of Solar Modules, Grid Tied Inverter, Cables, Structure, etc. [Confirmed by Management]
Brand Names :	Not Available
Agencies Held :	· MNRE-Ministry of Renewable Energy · PEDA-Punjab Energy Development Agency
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS:

Products	Installed Capacity
Olar Grid Tied Power Plants under Net metering	402.69KWp

GENERAL INFORMATION

Suppliers :

Reference:

Vikram Solar

Name of the Person (Designation):

Mr. Sujit Singh [Senior Manager]

Contact Number:

91-9582188822

Since how long known:

01 Year

Maximum limit dealt:

--

Experience:

Payment Behavior	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark

As claimed by Mr. Sujit Singh [Senior Manager] that payment behaviour and market goodwill is excellent.

Customers :

End Users

Reference:

Offcom Systems Private Limited [KACO]

Name of the Person (Designation):

Mr. Vishwmohan Chaudhary [Sales Manager]

Contact Number:

91-9873443572

Since how long known:

7-8 Months

Maximum limit dealt:

--

Experience:

Product Quality	Delivery Behavior	Overall
Excellent	Excellent	Excellent

Remark

As claimed by Mr. Vishwmohan Chaudhary [Sales Manager] that the product quality and delivery behaviour is excellent and overall performance is excellent.

No. of Employees :

20 [Approximately]

Bankers :

Bank Name:	HDFC Bank Limited
Branch:	Batala Branch, Punjab, India
Person Name (with Designation):	Mr. Mandeep Kaur [Professional Business Accountant]
Contact Number:	91-9501477887
Name of Account Holder:	ECO GLOBAL SALES CORP
Account Number:	5020002529575
Account Since (Date/ Year of A/c Opening):	03.06.2017
Average Balance Maintained (Optional):	INR 1.048 Million
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	Regular
Remarks:	As claimed by Mr. Mandeep Kaur [Professional Business Accountant] that they are satisfied with the subject company transaction

Auditors :
Name :	Mehta Sareen and Company Chartered Accountants
Address :	SCF 104, Leek Wala Talab Bus Stand, Batala, Punjab, India
Mobile No.:	91-7888486100
Email :	mehtasareenandco@gmail.com
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON: 28.02.2018 [PROVISIONAL]

Capital Investment :
Owned :	INR 1.657 Million
Borrowed :	--
Total :	INR 1.657 Million

FINANCIAL ANALYSIS

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		28.02.2018 [Provisional] [11 Months]	31.03.2017
SHAREHOLDERS FUNDS
1] Capital Account		1.657	1.068
2] Reserves & Surplus		0.000	0.000
3] (Accumulated Losses)		0.000	0.000
NETWORTH		1.657	1.068
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.600	0.000
TOTAL BORROWING		0.600	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		2.257	1.068
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.147	0.010
Capital work-in-progress		0.000	0.000
INVESTMENT		0.236	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.863	0.368
	Sundry Debtors	3.999	0.000
	Cash & Bank Balances	1.836	0.127
	Other Current Assets	0.224	0.023
	Loans & Advances	0.068	0.540
Total Current Assets		6.990	1.058
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.766	0.000
	Other Current Liabilities	3.350	0.000
	Provisions	0.000	0.000
Total Current Liabilities		5.116	0.000
Net Current Assets		1.874	1.058
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		2.257	1.068

PROFIT & LOSS ACCOUNT

	PARTICULARS		28.02.2018 [Provisional] [11 Months]	31.03.2017
	SALES
		Sales	15.039	1.842
		Other Income	0.219	0.437
		TOTAL	15.258	2.279
Less	EXPENSES
	Cost of Goods Sales		13.057	1.646
		Advertisement/ Flex Board	0.025	0.001
		Electricity Expenses	0.000	0.003
		Entertainment Expenses	0.000	0.018
		Mobile Bill	0.000	0.006
		Printing and Stationery	0.009	0.003
		Prof. Fees	0.000	0.004
		Rent	0.000	0.042
		Salary	0.877	0.085
		Internet Bill	0.000	0.013
		Travelling Expenses	0.000	0.087
		Freight and Forwarding Charges	0.050	0.000
		Accounting Charges	0.005	0.000
		Commission on sales	0.030	0.000
		Entertainment	0.001	0.000
		fee and taxes	0.018	0.000
		Festival Exps	0.048	0.000
		Freight Outward	0.002	0.000
		Fuel Exps	0.195	0.000
		Internet Expenses	0.004	0.000
		Legal Expense	0.002	0.000
		Miscellaneous Exps	0.003	0.000
		Rating Exps	0.035	0.000
		Service Charges Paid	0.003	0.000
		Shop Rent	0.018	0.000
		Staff Welfare Expenses	0.006	0.000
		Vehicle Repairs	0.032	0.000
		TOTAL	14.420	1.908
	PROFIT/ (LOSS) BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		0.838	0.371
Less	FINANCIAL EXPENSES		0.027	0.005
	PROFIT / (LOSS) BEFORE, DEPRECIATION AND AMORTISATION		0.811	0.366
Less/ Add	DEPRECIATION/ AMORTISATION		0.000	0.000
	NET PROFIT/ (LOSS)		0.811	0.366

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	28.02.2018 [Provisional] [11 Months]	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	97.06	0.00
Account Receivables Turnover (Income / Sundry Debtors)	3.76	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	49.37	0.00
Inventory Turnover (Operating Income / Inventories)	0.97	1.01
Asset Turnover (Operating Income / Net Fixed Assets)	5.70	37.10

LEVERAGE RATIOS

PARTICULARS	28.02.2018 [Provisional] [11 Months]	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.78	0.00
Debt Equity Ratio (Total Liability / Networth)	0.36	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.45	0.00
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.09	0.01
Interest Coverage Ratio (PBIT / Financial Charges)	31.04	74.20

PROFITABILITY RATIOS

PARTICULARS		28.02.2018 [Provisional] [11 Months]	31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	5.39	19.87
Return on Total Assets ((PAT / Total Assets) * 100)	%	11.00	34.27
Return on Investment (ROI) ((PAT / Networth) * 100)	%	48.94	34.27

SOLVENCY RATIOS

PARTICULARS	28.02.2018 [Provisional] [11 Months]	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.26	0.00
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.11	0.00
G-Score Ratio Financial (Networth / Total Assets)	0.22	1.00
G-Score Ratio Debt (Debts / Equity Capital)	0.36	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.26	0.00

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	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)	No
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
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 and eleven months	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year and eleven months	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	No
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOANS

PARTICULARS	28.02.2018 (INR In Million) [Provisional] [11 Months]	31.03.2017 (INR In Million)
Kapoor Singh	0.500	0.000
Varinder Singh, Batala	0.100	0.000
Total	0.600	0.000

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	Indian Rupees
US Dollar	1	INR 64.82
UK Pound	1	INR 90.66
Euro	1	INR 79.94

INFORMATION DETAILS

Information Gathered by :	SAV
Analysis Done by :	NIS
Report Prepared by :	RUP

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	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.

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