MIRA INFORM REPORT

Report No. :	493681
Report Date :	27.02.2018

IDENTIFICATION DETAILS

Name :	SHIVAM AUTOMOVERS PRIVATE LIMITED
Registered Office :	Sita Bhawan, H. No. 8, Street No. 2, Shakti Nagar, Jammu – 180001, Jammu and Kashmir
Tel. No.:	91-191-2467508
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	22.08.1997
Com. Reg. No.:	07-001733
Capital Investment / Paid-up Capital :	INR 8.159 Million
CIN No.: [Company Identification No.]	U35912JK1997PTC001733
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAGCS3555F
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in the business of transportation. To carry on the business of transport of goods and automobiles as authorized transport carriers of the original manufacturers of automobiles, etc. Retail trade services of motor vehicles, motorcycles, snowmobiles and related parts and accessories. (Registered Activity)
No. of Employees :	Information declined by the management

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 :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1997 and it is having satisfactory track records. For the financial year 2017, the company has increased its revenue from operation as compared to previous year and maintained average profit margin of 1.98%. General financial position of the company seems to be sound and acceptable. Further, rating also reflects company’s long standing track records along with improvement in the revenue and profitability profile during the year. However, rating strength is partially offset by excess of borrowing recorded during the year. Trade relations are reported as fair. Business is active. Payments are seems to be slow but 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 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 DENIED

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-191-2467508)

(Mobile No.: 91-9419190044/ 9419117935 – Not Reachable)

LOCATIONS

Registered Office :	Sita Bhawan, H. No. 8, Street No. 2, Shakti Nagar, Jammu – 180001, Jammu and Kashmir, India
Tel. No.:	91-191-2467508/ 2481085
Fax No.:	Not Available
E-Mail :	shivam_auto_movers@yahoo.com
Website :	http://www.shivamautomovers.com
Head Office :	House No: 211, Sector - 5, Channi Himmat, Jammu – 180015, Jammu and Kashmir, India

DIRECTORS

As on 31.03.2017

Name :

Mr. Shivkant Khajuria

Designation :

Managing Director

Address :

Street No. 2, House No. 8, Sita Bhawan, Shakti Nagar, Jammu – 180001, Jammu and Kashmir, Indi a

Date of Birth/Age :

03.02.1961

Date of Appointment :

11.08.1998

DIN No.:

01030537

Name :

Mr. Siddhant Singal

Designation :

Director

Address :

H.No.-5 and 6, Ist Floor, Pocket-6, Near Prince Public Sachool, Sector -24, Rohini, Delhi – 110085, India

Date of Appointment :

01.11.2017

DIN No.:

07014015

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U67190DL1996PLC076519	SINGALS BUILDWELL (INDIA) LIMITED.	30/12/2014	-
U63030DL2017PTC323412	SHARANYA CARRIERS PRIVATE LIMITED	08/09/2017	-

Name :

Ms. Kavita Singal

Designation :

Director

Address :

House No. 5-6, First Floor, Pocket 6, Near Prince Public School, Sector - 24, Rohini, New Delhi – 110085, India

Date of Appointment :

01.11.2017

DIN No.:

07914795

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U63030DL2017PTC323412	SHARANYA CARRIERS PRIVATE LIMITED	10/10/2017	-

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares	%age
Shivkant Khajuria	46307	56.76
Charu Khajuria	35280	43.24
Total	81587	100.00

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family-Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

• The company is engaged in the business of transportation.

• To carry on the business of transport of goods and automobiles as authorized transport carriers of the original manufacturers of automobiles, etc.

• Retail trade services of motor vehicles, motorcycles, snowmobiles and related parts and accessories.

(Registered Activity)

Products/ Services :

Item Code No.	Product/ Services Description
99625810	Motor vehicles, motorcycles, snowmobiles and related parts and accessories

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

(From Indirect Source)

• Maruti Suzuki India Limited
• Honda India Private Limited
• Mahindra and Mahindra Limited
• Tata
• Toyota
• Nissan/Renault

No. of Employees :

Information declined by the management

Bankers :

Bank Name	The Jammu and Kashmir Bank Limited
Branch	Shalamar Road, Jammu – 180001, Jammu and Kashmir, 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)	--

• HDFC Bank Limited

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
HDFC Car Loan	0.675	0.852
HDFC Vehicles Loan	12.515	11.304
JK Bank Term 423	0.000	0.327
JK Bank Term Loan 040	9.515	14.753
JK Bank Term Loan 046	15.763	0.000
JK Bank Term Loan 280	4.690	6.325
JK Bank Term Loan 281	6.444	8.068
JK Bank Term Loan 282	6.779	8.167
Current Portions	(27.201)	(16.500)
Short-term borrowings	29.180	33.296
Current Portion of Loan	27.201	16.500
J&K Bank Limited	6.263	4.799
Total	62.644	54.595

Auditors :
Name :	JSVP and Company Chartered Accountants
Address :	Karan Market, Jammu – 180001, Jammu and Kashmir, India
Tel. No.:	91-191-2475848
Mobile No.:	91-9419181848/ 9419183620/ 9419180280
E-Mail :	jsvpca@gmail.com jsvpca@rediffmail.com
Income-tax PAN of auditor or auditor's firm :	AADFJ7336D
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 26.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	INR 100/- each	INR 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
81587	Equity Shares	INR 100/- each	INR 8.159 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	8.159	8.159	8.159
(b) Reserves & Surplus	8.461	5.665	3.122
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.860
Total Shareholders’ Funds (1) + (2)	16.620	13.824	12.141
(3) Non-Current Liabilities
(a) Long-term borrowings	29.180	33.296	15.076
(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)	29.180	33.296	15.076
(4) Current Liabilities
(a) Short term borrowings	33.464	21.299	16.040
(b) Trade payables	6.231	6.165	0.000
(c) Other current liabilities	4.483	2.586	6.993
(d) Short-term provisions	2.227	0.897	0.580
Total Current Liabilities (4)	46.405	30.947	23.613
TOTAL	92.205	78.067	50.830
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	52.026	60.304	33.244
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.831	0.618	0.947
(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	52.857	60.922	34.191
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	16.264	10.729	7.473
(d) Cash and cash equivalents	2.643	2.965	6.073
(e) Short-term loans and advances	15.208	0.000	0.000
(f) Other current assets	5.233	3.451	3.093
Total Current Assets	39.348	17.145	16.639
TOTAL	92.205	78.067	50.830

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	140.872	116.038	111.992
	Other Income	1.662	1.380	1.115
	TOTAL	142.534	117.418	113.107
Less	EXPENSES
	Cost of Sales	0.000	0.000	0.000
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Operational Expenses	106.329	86.275	87.008
	Administrative and Other expenses	13.594	12.542	10.884
	TOTAL	119.923	98.817	97.892
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	22.611	18.601	15.215
Less	FINANCIAL EXPENSES	5.631	4.786	3.980
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	16.980	13.815	11.235
Less/ Add	DEPRECIATION/ AMORTISATION	13.066	9.887	8.149
	PROFIT/ (LOSS) BEFORE TAX	3.914	3.928	3.086
Less	TAX	1.118	1.385	0.523
	PROFIT/ (LOSS) AFTER TAX	2.796	2.543	2.563
	Earnings / (Loss) Per Share (INR)	34.27	31.16	31.41

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	12.638	12.276	15.060
Net cash flow from operating activity	11.308	11.220	12.656

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	42.14	33.75	24.36
Account Receivables Turnover ( Income / Sundry Debtors)	8.66	10.82	14.99
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	0.00	0.00	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	0.43	0.31	0.46

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.82	0.82	0.76
Debt Equity Ratio (Total Liability / Networth)	3.77	3.95	2.56
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.79	2.24	1.94
Fixed Assets to Networth (Net Fixed Assets / Networth)	3.13	4.36	2.74
Interest Coverage Ratio (PBIT / Financial Charges)	4.02	3.89	3.82

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	%	1.98	2.19	2.29
Return on Total Assets ((PAT / Total Assets) * 100)	%	3.03	3.26	5.04
Return on Investment (ROI) ((PAT / Networth) * 100)	%	16.82	18.40	21.11

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.85	0.55	0.70
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.85	0.55	0.70
G-Score Ratio Financial (Networth / Total Assets)	0.18	0.18	0.24
G-Score Ratio Debt (Debts / Equity Capital)	7.68	6.69	3.81
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.85	0.55	0.70

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
Share Capital	8.159	8.159	8.159
Reserves & Surplus	3.122	5.665	8.461
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.860	0.000	0.000
Net worth	12.141	13.824	16.620
long-term borrowings	15.076	33.296	29.180
Short term borrowings	16.040	21.299	33.464
Total borrowings	31.116	54.595	62.644
Debt/Equity ratio	2.563	3.949	3.769

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	111.992	116.038	140.872
		3.613	21.402

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	111.992	116.038	140.872
Profit/(Loss)	2.563	2.543	2.796
	2.29%	2.19%	1.98%

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	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)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
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	No
35	Negative Reporting by Auditors in the Annual Report	No

LEGAL STATUS AND BUSINESS ACTIVITY

• The company is a private limited company, registered under the companies act 1956.

• The company is engaged in the business of transportation.

• The financial statements are prepared in Indian Rupee, which is the functional and presentation currency.

INDEX OF CHARGES

Charges Registered
SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Amount	Address
1	G40264376	100088820	The Jammu & Kashmir Bank Limited	07/03/2017	-	20269000.0	Shalamar Road Jammu JAMMU AND KASHMIR 180001 INDIA
2	C62552450	10587967	The Jammu and Kashmir Bank Limited	31/07/2015	-	24037000.0	Shalamar Road Jammu JAMMU AND KASHMIR 180001 INDIA
3	B78663283	10434685	HDFC BANK LIMITED	14/05/2013	-	1400000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA
4	B56206402	10372041	HDFC BANK LIMITED	17/07/2012	-	2800000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA
5	B06396683	10254206	THE JAMMU AND KASHMIR BANK LIMITED	29/09/2010	28/12/2010	23886000.0	Shalamar Road Jammu JAMMU AND KASHMIR 180001 INDIA
6	A99194409	10254196	JAMMU AND KASHMIR BANK LIMITED	29/09/2010	-	1140000.0	Shalamar Road Jammu JAMMU AND KASHMIR 180001 INDIA
7	Y10447004	90323925	THE J AND K BANK LTD.	20/06/2005	-	21290000.0	Shalamar Road Jammu JAMMU AND KASHMIR 180001 INDIA
8	G17724352	90323887	The Jammu & Kashmir Bank Limited	09/02/2004	23/08/2016	39500000.0	Shalamar Road Jammu JAMMU AND KASHMIR 180001 INDIA

FIXED ASSETS

• Inverter
• Air Condtioner
• Television
• Mobile
• Vehicles
• Computers
• Furniture and Fixtures
• Commercial Vehicles

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 :	SVT
Analysis Done by :	PSD
Report Prepared by :	SUD

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.