MIRA INFORM REPORT

Report No. :	492601.2
Report Date :	27.02.2018

IDENTIFICATION DETAILS

Name :	CHIMERA CERAMICA
Registered Office :	A-101, Sneha Building, Above Rhythm Restaurant, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra
Tel. No.:	91-22-65536536
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment:	31.12.2003
Capital Investment / Paid-up Capital :	INR 0.408 Million
TIN No.:	Not Available
IEC No.: [Import-Export Code No.]	0315028246
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
GSTN : [Goods & Service Tax Registration No.]	27AAJFC2607C1ZW
PAN No.: [Permanent Account No.]	AAJFC2607C
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Trader and Importer of Tiles and Ceramic. (Confirmed by management)
No. of Employees :	08 (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 :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is a partnership firm established in the year 2003 and it is a trader and importer of tiles and ceramic. As per financial of March 2017, the subject has registered decline in its sales turnover as compared to its previous year’s sales turnover and has reported average profit margin of 2.12%. Rating takes into consideration the subject’s moderate scale of business operations marked by small capital base along with high debt balance sheet and below average liquidity position. Rating is further constrained on account of withdrawal of capital from the partners and intense competition from organized and un-organised players from ceramic industry. Payments seems to be slow but correct. In view of aforesaid, the subject 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.

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 27.02.2018

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. Sahil Kothari
Designation :	Partner
Contact No.:	91-9029777224
Date :	16.02.2018

LOCATIONS

Registered Office :	A-101, Sneha Building, Above Rhythm Restaurant, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-65536536
Mobile No.:	91-9029777224 (Mr. Sahil)
Fax No.:	Not Available
E-Mail :	chimeraceramica@yahoo.com
Area :	1200 sq. ft.
Location	Owned
Warehouse :	771, Patharewadi, Opposite Bageecha Hotel, Malad (West), Mumbai – 400095, Maharashtra, India

PARTNERS

Name :	Mr. Sahil Kothari
Designation :	Partner
Address :	78, Nagardas Park, Old Nagardas Road, Andheri – East, Mumbai – 400069, Maharashtra, India
Date of Birth/Age :	11.01.1989
Qualification :	Graduate
Experience :	10 Years
Name :	Mr. Sumit Singh Chawal
Designation :	Partner
Address :	A-101, Above Rhythm Restaurant, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India
Date of Birth/Age	11.06.1969
Qualification :	Post Graduate
Experience :	20 Years
Name :	Mr. Manoj Sainani
Designation :	Partner
Address :	A-101, Above Rhythm Restaurant, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India
Date of Birth/Age :	18.10.1976
Qualification :	Graduate
Experience :	20 Years

BUSINESS DETAILS

Line of Business :	Trader and Importer of Tiles and Ceramic. (Confirmed by management)
Products :	Tiles-Mayolica, Made in Spain Tiles-Monopole, Made in Spain Tiles-Undefesa, Made in Spain Tiles-Edimix, Made in Italy
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Yeshasia Monople Mayolica EZE Seramik Edimix
Countries :	China Spain Turkey Italy
Terms :
Selling :	Cash and Credit (30 / 60 / 90 Days)
Purchasing :	Cash and Credit (30 / 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 :

Retailer

Reference 1:

Shree Shanti Tiles

Address :

Shop No. 8, 104, 105, Laxmi Chhaya CHS, Babhai Naka, Mumbai – 400092, Maharashtra, India

Name of the Person :

Mr. Rahul (Partner)

Contact No.:

91-9619236674

Since How Long Known :

3-4 Years

Maximum Limit Dealt :

--

Experience :

Product Quality	Delivery Behaviour	Overall
Excellent	Excellent	Excellent

Remark:

Mr. Rahul (Partner) claimed that the product quality and delivery Behaviour is excellent and overall performance is excellent.

Reference 2 :	Modern Ceramics
Address :	Shop No. 48, Nagdevi Street, Mumbai – 400003, Maharashtra, India
Name of the Person :	Mr. Viral Bhai
Contact No.:	91-9821011515
Remark:	He denied to provide feedback

Reference 3 :	Beautiful Homes
Address :	Nehru Roadm Vakola, Santa Cruz East, Mumbai – 400055, Maharashtra, India
Name of the Person :	Mr. Sarfaraz
Contact No.:	91-9820134374

Reference 4 :	Sanit Designs
Address :	A-302, Emerald Building, 15thRoad, Chembur, Mumbai – 400071, Maharashtra, India
Name of the Person :	Mrs. Poonam Chand Mehta

No. of Employees :

08 (Approximately)

Bankers :

Bank Name	Bank of Maharashtra
Branch	Lokhandwala Complex, Andheri (West), Mumbai, Maharashtra, 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)	--
Account Operation	--
Remarks (If any)	--

Auditors :

Name :

RVA and Associates LLP

Chartered Accountants

Address :

Shamji Dhamji Industrial Estate

Mobile No.:

91-9820066056

E-Mail :

rva_ca@yahoo.co.in

Memberships No.:

048888

Memberships :

Not Available

Collaborators :

Not Available

Sister Concern:

Not Available

CAPITAL STRUCTURE

As on 31.03.2017

Capital Investment :
Owned :	INR 0.408 Million
Borrowed :	--
Total :	INR 0.408 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016	31.03.2015
SHAREHOLDERS FUNDS
1] Partners Capital		0.408	3.134	5.992
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.408	3.134	5.992
LOAN FUNDS
1] Secured Loans		8.450	4.671	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		8.450	4.671	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		8.858	7.805	5.992
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.860	0.241	0.284
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.621	4.784	4.546
	Sundry Debtors	12.609	3.637	3.937
	Cash & Bank Balances	0.888	0.592	0.889
	Other Current Assets	0.244	0.325	0.564
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		17.362	9.338	9.936
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9.364	1.774	4.228
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		9.364	1.774	4.228
Net Current Assets		7.998	7.564	5.708
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.858	7.805	5.992

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	38.343	41.221	25.465
	Other Income	0.057	0.254	-0.260
	TOTAL	38.400	41.475	25.205
Less	EXPENSES
	Cost of Materials Consumed	22.269	30.952	20.662
	Goods Transfer from Imperia	0.000	0.010	0.260
	Custom Duty	2.191	0.000	0.000
	Customs and Clearing Expenses	1.012	2.200	0.000
	loading and Un-Loading Expenses	1.172	0.408	0.000
	Octroy and Transport Charges	2.114	1.975	0.000
	Bonus	0.125	0.115	0.057
	Business Promotion Expenses	0.000	0.000	0.081
	Commission	0.642	0.160	0.000
	Conveyance	0.217	0.097	0.033
	Courier	0.014	0.005	0.002
	Discount and Rebates	0.000	0.032	0.061
	Delivery Expenses	0.897	0.671	0.429
	Electricity Charges	0.153	0.069	0.052
	Godown Expenses	0.097	0.094	0.247
	Godown rent	0.840	0.490	0.240
	Insurance Charges	0.007	0.000	0.000
	Interest on VAT	0.000	0.191	0.000
	Interest on Taxes	0.000	0.000	0.027
	Interest on Overdraft	0.930	0.156	0.000
	Legal and Audit Fees	0.123	0.050	0.019
	License Fees	0.005	0.002	0.000
	Motor Car Repairs	0.089	0.073	0.042
	Office Expenses	0.038	0.000	0.041
	Petrol and Diesel Expenses	0.224	0.156	0.126
	Printing and Stationery	0.025	0.030	0.012
	Rates and Taxes	0.012	0.028	0.000
	Repair and Maintenance	0.100	0.228	0.144
	Salaries and Allowances	2.200	1.397	1.643
	Software Expenses	0.022	0.012	0.024
	Staff Welfare Expenses	0.123	0.129	0.122
	Sundry expense	0.066	0.066	0.157
	Tea and Other Expenses	0.112	0.095	0.071
	Telephone Charges	0.088	0.064	0.067
	Travelling expenses	0.150	0.166	0.000
	Partners Remuneration	1.440	0.720	0.240
	TOTAL	37.497	40.841	24.859
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.903	0.634	0.346
Less	FINANCIAL EXPENSES	0.032	0.135	0.010
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.871	0.499	0.336
Less/ Add	DEPRECIATION/ AMORTISATION	0.058	0.043	0.061
	NET PROFIT	0.813	0.456	0.275

The above information has been parted by Mr. Sahil Kothari (Partner)

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

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	120.03	32.20	56.43
Account Receivables Turnover (Income / Sundry Debtors)	3.04	11.33	6.47
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	153.48	20.92	74.69
Inventory Turnover (Operating Income / Inventories)	0.25	0.13	0.08
Asset Turnover (Operating Income / Net Fixed Assets)	1.05	2.63	1.22

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.98	0.67	0.41
Debt Equity Ratio (Total Liability / Networth)	20.71	1.49	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	22.95	0.57	0.71
Fixed Assets to Networth (Net Fixed Assets / Networth)	2.11	0.08	0.05
Interest Coverage Ratio (PBIT / Financial Charges)	28.22	4.70	34.60

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	2.12	1.11	1.08
Return on Total Assets ((PAT / Total Assets) * 100)	%	4.46	4.76	2.69
Return on Investment (ROI) ((PAT / Networth) * 100)	%	199.26	14.55	4.59

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.85	5.26	2.35
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.47	2.57	1.27
G-Score Ratio Financial (Networth / Total Assets)	0.02	0.33	0.59
G-Score Ratio Debt (Debts / Equity Capital)	20.71	1.49	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.85	5.26	2.35

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Partners’ Capital	5.992	3.134	0.408
Reserves & Surplus	0.000	0.000	0.000
Net worth	5.992	3.134	0.408
Secured Loan	0.000	4.671	8.450
Unsecured Loan	0.000	0.000	0.000
Total borrowings	0.000	4.671	8.450
Debt/Equity ratio	0.000	1.490	20.711

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 Turnover	25.465	41.221	38.343
		61.873	-6.982

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	25.465	41.221	38.343
Profit	0.275	0.456	0.813
	1.08%	1.11%	2.12%

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	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	Yes
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	No
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	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

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 64.66
UK Pound	1	INR 90.65
Euro	1	INR 79.69

INFORMATION DETAILS

Information Gathered by :	SWT
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.