MIRA INFORM REPORT

Report No. :	492778
Report Date :	23.02.2018

IDENTIFICATION DETAILS

Name :	RATANMOTI TEXFAB (INDIA) PRIVATE LIMITED
Registered Office :	B-7, W. No. 24/2, Vardhman Chowk, BJP Market, Textiles Market, Ichalkaranji -416115, Maharashtra
Tel. No.:	91-230-2420081 / 2433792 / 2436877
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	27.12.2007
Com. Reg. No.:	11-131174
Capital Investment / Paid-up Capital :	INR 2.000 Million
CIN No.: [Company Identification No.]	U17297PN2007PTC131174
IEC No.: [Import-Export Code No.]	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
TIN No.:	27780643696
GSTN : [Goods & Service Tax Registration No.]	27AADCR8239C1ZD
PAN No.: [Permanent Account No.]	AADCR8239C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Textiles. (Registered activity and also 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 :

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 was incorporated in the year 2007 and it is having satisfactory track. For the financial year 2017, the company has increased in its revenue from operation and maintained average profitability margin of 1%. Rating takes into consideration sound financial profile of the company marked by adequate networth base and average debt balance sheet. Further, rating also reflects from its long standing track records of business operation and improvement in the revenue as well as profitability during the year. Trade relations are reported as fair. Business is active. Payments are seems to be usually correct. The company 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 (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 23.02.2018.

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. Ritesh Kumar
Designation :	Director
Contact No.:	91-9730045615
Date :	18.02.2018

LOCATIONS

Registered Office :	B-7, W. No. 24/2, Vardhman Chowk, BJP Market, Textiles Market, Ichalkaranji -416115, Maharashtra, India
Tel. No.:	91-230-2420081 / 2433792 / 2436877
Mobile No.:	91-9730045615 [Mr. Ritesh Kumar]
Fax No.:	91-230-2420081 / 2436877
E-Mail :	info@ratanmoti.com ratanmoti@gmail.com
Website :	http://www.ratanmoti.com
Factory :	Gat No.: 637, Prabhat Warehouse, Tadal, Ichalkaranji – 416115, Maharashtra, India
Branch Office :	C/F – 08, Sumel Busienss Park 1, Behind New Cloth Market, Sarangpur, Ahmedabad – 380002, Gujarat, India
Tel. No.:	91-79-22161148
E-Mail :	ratanmotiahmedabad@gmail.com

DIRECTORS

As on 31.03.2017

Name :	Mr. Nitesh Gyanchand Patani
Designation :	Director
Address :	B-7, W. No. 24/2, Vardhman Chowk, BJP Market, Textiles Market, Ichalkaranji -416115, Maharashtra, India
Date of Appointment :	27.12.2007
DIN No.:	01910060
Name :	Mr. Sanjay Bhagchand Patani
Designation :	Director
Address :	10/352, Ratanmoti Building, Sarvoday Nagar, Galli No.: 3, Ichalkaranji -416115, Maharashtra, India
Date of Appointment :	27.12.2007
DIN No.:	01910412
Name :	Mr. Gyanchand Motilal Patni
Designation :	Director
Address :	H No B No.: 7, G No.: 3, BJP Co-operative Textiles, Market, Ichalkaranji -416115, Maharashtra, India
Date of Appointment :	14.08.2014
DIN No.:	01910542
Name :	Mr. Bhagchand Motilal Patni
Designation :	Director
Address :	10/352, Ratanmoti Building, Sarvoday Nagar, Galli No.: 3, Ichalkaranji -416115, Maharashtra, India
Date of Appointment :	14.08.2014
DIN No.:	01910562
Name :	Mr. Riteshkumar Navalchand Patni
Designation :	Director
Address :	10/352, Ratanmoti Building, Sarvoday Nagar, Galli No.: 3, Ichalkaranji -416115, Maharashtra, India
Date of Appointment :	14.08.2014
DIN No.:	06682786
Name :	Mr. Rahul Bhagchand Patni
Designation :	Director
Address :	10/352, Ratanmoti Building, Sarvoday Nagar, Galli No.: 3, Ichalkaranji -416115, Maharashtra, India
Date of Appointment :	14.08.2014
DIN No.:	06946237

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares
Sanjay Bhagchand Patani	4100
Nitesh Gyanchand Patani	4100
Navalchand M Patni – HUF	700
Bhagchand Motilal Patni	700
Bhagchand Motilal Patni – HUF	700
Gyanchand Motilal Patni	700
Gyanchand Motilal Patni – HUF	700
Sanjay Bhagchand Patani- HUF	700
Nitesh Gyanchand Patani- HUF	700
Rahul Bhagchand Patni	700
Riteshkumar Navalchand Patni	700
Ratandevi M Patni	200
Sarladevi N Patni	500
Ushadevi B Patni	500
Chainkanwar G Patni	500
Smita Sanjay Patni	500
Priya Rahul Patni	500
Suchita Nitesh Patni	500
Bhavna Sandip Doshi	100
Alka Rajesh Jain	100
Minax Mahendrakumar Pahadiya	100
Rinku Nitin Kumar Ghoda	100
Rahul Bhagchand Patni – HUF	700
Sapana Ritesh Patni	500
Riteshkumar Navalchand Patni – HUF	700
Total	20000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoter – (Individual/ Hindu Undivided Family – Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Textiles. (Registered activity and also Confirmed by management)

Products :

Item Code No.	Product Description
52081190	Textiles, Yarns and Fabrics

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

Finished Goods

Countries :

• UK
• Turkey
• Korea
• USA

Imports :

Products :

Raw Material

Countries :

China

Terms :

Selling :

Advance Payment, L/C, Cheque and Credit (30/60/90 days) and RTGS

Purchasing :

Advance Payment, L/C, Cheque and Credit (30/60/90 days) and RTGS

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• Arunoday Sales
• Exotex Industries
• Pooja Cotspin Limited
• Shubh Textiles
• Luckay Textiles
• Mahavir Exports
• Datta Textiles
• Rachana Textiles
• SSaraswati Impex

Reference :	Full Circle Textiles LLP
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Wholesalers, Retailers

• Amruta Fashion
• Ankush Enterprises
• Bhavna Impex
• Birla Century
• Encot Fabrics Private Limited
• Anjani Synthetics Limited
• Gopi Synthetics Private Limited
• Enrich Clothing
• M N Textiles
• Maan Textiles Industries

Reference :	Jindal Fabrics Private Limited
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

20 (Approximately)

Bankers :

Bank Name	ICICI Bank
Branch	--
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)	--
Account Operation	--
Remarks (If any)	--

• Tamilnad Mercantile Bank Limited
• Axis Bank
• The Karur Vysya Bank Limited
• Union Bank of India
• HDFC Bank

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Term loan from HDFC Bank	2.179	0.954
Short-term borrowings
Loan repayable on demand from HDFC Bank	50.370	43.705
HDFC Bank (LC Discount)	13.771	3.455
Total	66.320	48.114

Auditors :
Name :	N. S. Baldi and Company Chartered Accountants
Address :	Vikranta Apartment, Near Radha Krishna Talkies, Ichalkaranji – 416115, Maharashtra, India
Tel. No.:	91-230-2433605
Mobile No.:	91-9422046008
E-Mail :	nbaldi@rediffmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	ABOPB2868G
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
20000	Equity Shares	INR 100/- each	INR 2.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	INR 100/- each	INR 2.000 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2.000	2.000	2.000
(b) Reserves & Surplus	37.577	27.981	21.298
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	39.577	29.981	23.298
(3) Non-Current Liabilities
(a) long-term borrowings	67.039	75.779	47.517
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	67.039	75.779	47.517
(4) Current Liabilities
(a) Short term borrowings	64.141	47.160	70.849
(b) Trade payables	105.482	67.804	32.034
(c) Other current liabilities	0.000	0.000	6.116
(d) Short-term provisions	6.326	7.770	8.804
Total Current Liabilities (4)	175.949	122.734	117.803
TOTAL	282.565	228.494	188.618
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12.181	11.077	8.580
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.075	0.084	0.049
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	12.256	11.161	8.629
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	88.549	88.414	67.974
(c) Trade receivables	165.814	118.764	101.838
(d) Cash and cash equivalents	7.094	1.873	0.990
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	8.852	8.282	9.187
Total Current Assets	270.309	217.333	179.989
TOTAL	282.565	228.494	188.618

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	899.113	676.455	649.609
	Other Income	14.641	11.657	5.416
	TOTAL	913.754	688.112	655.025
Less	EXPENSES
	Cost of Materials Consumed	702.138	488.904	455.952
	Purchases of Stock-in-Trade	6.475	9.082	46.319
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(6.458)	12.855	(12.003)
	Employees benefits expense	1.648	2.022	1.932
	Other expenses	177.175	148.574	139.518
	TOTAL	880.978	661.437	631.718
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	32.776	26.675	23.307
Less	FINANCIAL EXPENSES	16.999	15.038	13.754
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	15.777	11.637	9.553
Less	DEPRECIATION/ AMORTISATION	1.615	1.599	1.306
	PROFIT/ (LOSS) BEFORE TAX	14.162	10.038	8.247
Less	TAX	4.809	3.465	2.646
	PROFIT/ (LOSS) AFTER TAX	9.353	6.573	5.601
	Earnings / (Loss) Per Share (INR)	467.64	328	280

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	38.237	(66.050)	(21.523)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	67.31	64.08	57.22
Account Receivables Turnover (Income / Sundry Debtors)	5.42	5.70	6.38
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	54.33	49.70	23.28
Inventory Turnover (Operating Income / Inventories)	0.37	0.30	0.34
Asset Turnover (Operating Income / Net Fixed Assets)	2.69	2.41	2.72

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.86	0.87	0.88
Debt Equity Ratio (Total Liability / Networth)	3.31	4.10	5.08
Current Liabilities to Networth (Current Liabilities / Net Worth)	4.45	4.09	5.06
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.31	0.37	0.37
Interest Coverage Ratio (PBIT / Financial Charges)	1.93	1.77	1.69

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	1.04	0.97	0.86
Return on Total Assets ((PAT / Total Assets) * 100)	%	3.31	2.88	2.97
Return on Investment (ROI) ((PAT / Networth) * 100)	%	23.63	21.92	24.04

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.54	1.77	1.53
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.03	1.05	0.95
G-Score Ratio Financial (Networth / Total Assets)	0.14	0.13	0.12
G-Score Ratio Debt (Debts / Equity Capital)	65.59	61.47	59.18
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.54	1.77	1.53

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

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	2.000	2.000	2.000
Reserves & Surplus	21.298	27.981	37.577
Net worth	23.298	29.981	39.577
long-term borrowings	47.517	75.779	67.039
Short term borrowings	70.849	47.160	64.141
Total borrowings	118.366	122.939	131.180
Debt/Equity ratio	5.081	4.101	3.315

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	649.609	676.455	899.113
		4.133	32.915

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	649.609	676.455	899.113
Profit	5.601	6.573	9.353
	0.86%	0.97%	1.04%

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	No
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	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	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

UNSECURED LOAN

Unsecured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Loans and advances from related parties
Nitesh Textiles	8.330	13.580
Prabhat Sizers	1.970	9.590
Rahul B. Patni	4.150	5.170
Relish Clothing	5.490	9.000
Ritesh Textiles	3.940	12.300
Sanjay Textiles	13.950	12.600
Harshit Textiles	6.190	0.690
Patni and Company	4.900	5.440
Prabhat Enterprises	1.420	0.000
Ratan Industries	1.620	0.000
Riddhi Textiles	3.200	5.545
Rishabh Textiles	6.900	0.910
Sapna Textiles	2.800	0.000
Total	64.860	74.825

INDEX OF CHARGES:

Charges Registered
SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G75288720	10251072	HDFC BANK LIMITED	29/10/2010	10/01/2018	-	175000000.0	HDFC BANK HOUSE SENAPATI BAPAT MARG LOWER PAREL W MUMBAI MH 400013 IN
2	B06392534	10129408	TAMILNAD MERCANTILE BANK LIMITED	16/10/2008	-	23/02/2011	10000000.0	MAIN BRANCH, NARAYAN PETH ICHALKARANJI MH 416115 IN

FIXED ASSETS

• Building
• Plant and Machinery
• Office Equipment
• Furniture and Deadstock
• Air Conditioner
• Computer
• CCTV Camera

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 64.82
UK Pound	1	INR 90.66
Euro	1	INR 79.94

INFORMATION DETAILS

Information Gathered by :	SAV
Analysis Done by :	PRA
Report Prepared by :	JYO

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.