MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	484196
Report Date :	05.01.2018

IDENTIFICATION DETAILS

Name :	DIMENSION DATA INDIA PRIVATE LIMITED [w.e.f. 30.03.2015]

Formerly Known As :	DIMENSION DATA INDIA LIMITED (w.e.f. 26.03.2011) DATACRAFT INDIA LIMITED (w.e.f 15.09.2000) DATACRAFT RPG LIMITED DATACRAFT ICIM PRIVATE LIMITED

Registered Office :	1701 to 1704, Part B and C Wing, One BKC, Plot No. C-66, G Block Bandra Kurla Complex Bandra (East), Mumbai - 400051, Maharashtra
Tel. No.:	91-22-61657000

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	13.12.1994

Com. Reg. No.:	11-083713

Capital Investment / Paid-up Capital :	INR 63.800 Million

CIN No.: [Company Identification No.]	U72200MH1994PTC083713

IEC No.:	Not Divulged

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAACD2145G

GSTIN :	Not Divulged

Legal Form :	Private Limited Liability Company.

Line of Business :	The Company is engaged in the business of Data Communication, Networking and Trading of Networking Equipment. (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+	Low Risk	Business dealings permissible with low risk of default

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is a subsidiary of “Dimension Data Asia Pacific Pte Limited” and it was incorporated in the year 1994. As per financials of March 2017, the company has registered a growth of 11.28% in its revenue as compared to its previous year’s revenue and has reported average profit margin of 1.84%. Rating takes into consideration the company’s established track record of business operations marked by healthy net worth base along with low solvency indicators due to zero balance sheet and good liquidity position. Rating also takes into account the strong financial and managerial support received from its holding company and well experienced management team. Further, the company has reported a good earnings per share of INR 42.17 against its face value of INR 10. Payments are reported to be regular. In view of aforesaid, the company can be considered good 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

(30.06.2017)

Current Rating

(30.09.2017)

India

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 05.01.2018

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 [91-22-61657000]

GIVEN NUMBER [91-22-24981212] IS INCORRECT

LOCATIONS

Registered/ Head Office :	1701 to 1704, Part B and C Wing, One BKC, Plot No. C-66, G Block Bandra Kurla Complex Bandra (East), Mumbai - 400051, Maharashtra, India
Tel. No.:	91-22-61657000 / 62190337
Fax No.:	91-22-62190010
E-Mail :	kapil.garg@datacraft-asia.com info.in@dimensiondata.com
Website:	www.dimensiondata.com

Branch Offices:	Located at : South Africa United Kingdom Singapore Americas Asia Pacific Australia Europe Middle East and Africa

DIRECTORS

As on 31.03.2017

Name :	Mr. Kapil Kumar Garg
Designation :	Whole-time director
Address :	C- 1103, Park View Spa, Sector- 47, Gurgaon - 122001, Haryana, India
Date of Birth/Age :	05.02.1969
Qualification :	ICWA & CS
Date of Appointment :	06.04.2015
PAN No.:	ABAPG5754E
DIN No.:	00176651

Name :	Mr. IP Sik Ming
Designation :	Director
Address :	90 D Coronation Road West, Singapore 286301
Date of Birth/Age :	03.08.1956
Qualification :	Post Graduate
Date of Appointment :	23.09.2008
DIN No.:	01405977

Name :	Mr. Kiran Bhagwanani
Designation :	Whole-time director
Address :	1202, Safal Heights Ghatla Road, Chembur, Mumbai - 400071, Maharashtra, India
Date of Birth/Age :	26.08.1970
Qualification :	Degree in Electronic Engineering
Date of Appointment :	01.05.2011
PAN No.:	AAIPB4018M
DIN No.:	03510929

Name :	Mr. John Alexander Lombard
Designation :	Director
Address :	99 Emerald Hill Road, Singapore-229375
Date of Birth/Age :	01.12.1966
Qualification :	Bachelor Education Latrobe University Melbourne
Experience :	25 years
Date of Appointment :	29.09.2016
DIN No.:	07553582

KEY EXECUTIVES

Name :	Mr. Sanket Tarun Bhinde
Designation :	Company Secretary
Address :	B-39, Niwara CHS. Limited, LBS Marg, Mulund (West), Mumbai-400080, Maharashtra, India
Date of Appointment :	29.09.2016
PAN No.:	AMLPB9876A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders		No. of Shares
Dimension Data Asia Pacific Pte. Limited, Singapore		6381003
Kapil Kumar Garg (As Registered members on behalf of Dimension Data Asia Pacific Pte. Limited)		01

Total		6381004

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2017

Category	Percentage
Promoter - Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the business of Data Communication, Networking and Trading of Networking Equipment. (Registered activity)

Products :

Item Code No.	Product Description
99611841	Hardware
99831311	Advisory service fee
99831429	Information Technology solutions for businesses

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

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 :

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

No. of Employees :

Information declined by the management

Bankers :

Bank Name	HDFC Bank
Branch	HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, 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)	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Short-term borrowings
Rupee term loans from banks	0.000	57.400

Total	0.000	57.400

Auditors :
Name :	BSR and Company LLP Chartered Accountants
Address :	5Th Floor, Lodha Excellus, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai, Maharashtra, India
Tel. No.:	91-22-43455300
Fax No.:	91-22-43455399
PAN N Income-tax PAN of auditor or auditor's firm :	AAIFB4734C

Memberships :	Not Available

Collaborators :	Not Available


Ultimate Holding Company :	Nippon Telegraph and Telephone Corporation

Holding Company :	Dimension Data Asia Pacific Pte. Limited, Singapore

Fellow subsidiaries :	Dimension Data (Singapore) Pte Limited, Singapore Dimension Data (Thailand) Limited, Thailand Dimension Data (Malaysia) Sdh Bhd, Malaysia Dimension Data New Zealand Limited, New Zealand Dimension Data China / Hongkong Limited, China PT Dimension Data Indonesia Dimension Data Japan Inc., Japan Dimension Data Korea Inc. Dimension Data Philippines Inc., Philippines Dimension Data Vietnam Limited Dimension Data Australia Pty Limited, Australia Dimension Data Germany AG and Co. KG., Germany Dimension Data Italia S.p.a., Italy Dimension Data Network Services Limited, United Kingdom Dimension Data North America Inc, United States Dimension Data Canada Inc, Canada Dimension Data S.A.(Switzerland) J.Q.Networks Pte Limited Training Partners Pte Limited Dimension Data Espana, S.L.U., Spain Dimension Data Netherlands BV, Netherlands Dimension Data (Pty) Limited, Singapore Dimension Data France SAS, France Dimension Data Commerce Centre Limited, United Kingdom Dimension Data Management Services (Pty) Limited, South Africa Dimension Data Belgium SA, Belgium Dimension Data (Beijing) Limited, China Dimension Data Global Services Limited, United Kingdom Dimension Data Communication UK Limited, United Kingdom Dimension Data Middle East LLC, United Arab Emirates Dimension Data Cloud Solutions Inc, United States Dimension Data Taiwan Limited Dimension Data Supply Chain Services Limited Dimension Data Cloud Solutions India Private Limited, India U72200KA2004PTC033979 Training Partner Co Limited Dimension Data Cloud Solutions Australia Pty Limited Dimension Data Austria GMBH, Australia Dimension Data Learning Solutions Dimension Data Visual Communications Limited. Dimension Data Deutschland Holdings Dimension Data (Shanghai) Limited, China Netmagic IT Services Private Limited Netmagic Solutions Private Limited NTT Communications Corporation NTT Communications India Private Limited NTT Data Deutschland GmbH, Germany NTT Data Information NTT Data Global Delivery Service Private Limited

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital:

No. of Shares	Type	Value	Amount

10000000	Equity Shares	INR 10/- each	INR 100.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount

6381004	Equity Shares	INR 10/- each	INR 63.810 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	63.810	63.810	63.800
(b) Reserves and Surplus	3198.400	2977.300	2291.400
(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)	3262.210	3041.110	2355.200

(3) Non-Current Liabilities
(a) long-term borrowings	418.900	254.900	141.700
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	514.800	439.800	192.300
(d) long-term provisions	66.500	52.100	27.600
Total Non-current Liabilities (3)	1000.200	746.800	361.600

(4) Current Liabilities
(a) Short-term borrowings	26.900	86.500	0.000
(b) Trade payables	6232.290	4000.790	1985.700
(c) Other current liabilities	2213.000	1683.500	1095.500
(d) Short-term provisions	456.100	430.300	23.000
Total Current Liabilities (4)	8928.290	6201.090	3104.200

TOTAL	13190.700	9989.000	5821.000

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	298.200	310.300	855.000
(ii) Intangible Assets	27.500	36.600	10.300
(iii) Tangible assets 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)	610.700	508.100	84.100
(d) Long-term loans and advances	2323.300	1842.900	1195.600
(e) Other Non-current assets	32.500	39.800	32.900
Total Non-Current Assets	3292.200	2737.700	2177.900

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	143.300	203.900	33.700
(c) Trade receivables	4981.300	3986.600	2351.400
(d) Cash and bank balances	2365.600	1228.500	433.300
(e) Short-term loans and advances	2193.700	1575.100	766.500
(f) Other current assets	214.600	257.200	58.200
Total Current Assets	9898.500	7251.300	3643.100

TOTAL	13190.700	9989.000	5821.000

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	14617.000	13134.900	10808.700
	Other Income	83.900	48.200	38.600
	TOTAL	14700.900	13183.100	10847.300

Less	EXPENSES
	Purchases of Stock-in-Trade	7529.000	6480.800	5874.100
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	60.600	(33.700)	(136.500)
	Employee benefit expense	1764.100	1481.800	1208.900
	CSR expenditure	0.600	1.800	4.900
	Other expenses	4727.000	4328.300	3983.300
	Exceptional items before tax	0.000	0.000	(334.700)
	TOTAL	14081.300	12259.000	10600.000

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	619.600	924.100	247.300

Less	FINANCIAL EXPENSES	7.800	27.700	24.200

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	611.800	896.400	223.100

Less/ Add	DEPRECIATION/ AMORTISATION	156.700	172.800	219.600

	PROFIT/ (LOSS) BEFORE TAX	455.100	723.600	3.500

Less	TAX	186.000	283.200	(179.100)
Less	Tax expense of discontinuing operations	0.000	(14.900)	0.000

	PROFIT/ (LOSS) AFTER TAX	269.100	455.300	182.600

	Earnings / (Loss) Per Share (INR)	42.17	69.02	28.62

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	471.700	389.400	166.400
Net cash flows from (used in) operations	1671.700	1377.400	337.600
Net cash flows from (used in) operating activities	1127.800	1002.700	(57.300)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days [Sundry Debtors / Income * 365]	124.39	110.78	79.40

Account Receivables Turnover [Income / Sunday Debtors]	2.93	3.29	4.60

Average Payment Days [Sundry Creditors / Purchases * 365]	302.14	225.33	123.39

Inventory Turnover [Operating Income / Inventories]	4.32	4.53	7.34

Asset Turnover [Operating Income / Net Fixed Assets]	1.90	2.66	0.29

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets]	0.71	0.65	0.56

Debt Equity Ratio (Borrowings / NetWorth)	0.14	0.11	0.06

Current Liabilities to Networth (Current Liabilities / NetWorth)	2.74	2.04	1.32

Fixed Assets to NetWorth (Net Fixed Assets / NetWorth)	0.10	0.11	0.37

Interest Coverage Ratio [PBIT / Financial Charges]	79.44	33.36	10.22

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	(%)	1.84	3.47	1.69

Return on Total Assets [(PAT / Total Assets) * 100]	(%)	2.04	4.56	3.14

Return on Investment (ROI) [(PAT / NetWorth) * 100]	(%)	8.25	14.97	7.75

SOLVENCY RATIO

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio [Current Assets / Current Liabilities]	1.11	1.17	1.17

Quick Ratio [(Current Assets - Inventories) / Current Liabilities]	1.09	1.14	1.16

G-Score Ratio Financial [NetWorth / Total Assets]	0.25	0.30	0.40

G-Score Ratio Debt [Debts / Equity Capital]	6.99	5.35	2.22

G-Score Ratio Liquidity [Total Current Assets / Total Current Liabilities]	1.11	1.17	1.17

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	63.800	63.810	63.810
Reserves & Surplus	2291.400	2977.300	3198.400
	0.000	0.000	0.000
Net worth	2355.200	3041.110	3262.210

Long-term borrowings	141.700	254.900	418.900
Short term borrowings	0.000	86.500	26.900
Current maturities of long-term debts	0.000	0.000	0.000
Total borrowings	141.700	341.400	445.800
Debt/Equity ratio	0.060	0.112	0.137

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	10808.700	13134.900	14617.000
		21.522	11.284

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	10808.700	13134.900	14617.000
Profit/ (Loss)	182.600	455.300	269.100
	1.69%	3.47%	1.84%

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	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	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
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

BACKGROUND

The Company was incorporated in the year 1994 and is a subsidiary of Dimension Data Asia Pacific Pte Ltd., Singapore. The Company has been converted into a private limited company on 30 March 2015.

The Company is primarily engaged in the business of data communication, networking and trading of networking equipment. The Company combines an expertise in networking, security, data center, storage, end user computing and converged communications and contact center technologies, with advanced skills in consulting, integration, training and managed services to craft Information Technology solutions for businesses.

UNSECURED LOAN

Unsecured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Other loans and advances, others	418.900	254.900

Short-term borrowings
Other loans and advances	26.900	29.100

Total	445.800	284.000

INDEX OF CHARGES:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G05036629	80049417	HDFC BANK LIMITED	09/09/2003	14/11/2008	07/06/2016	210000000.0	HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India
2	G05001748	90212967	DBS BANK LTD	26/12/1996	17/04/2013	07/06/2016	390000000.0	221, Fort House, 3rd Floor, D.N. Road, Fort, Mumbai – 400001, Maharashtra, India
3	G04968673	80049418	The Hongkong and Shanghai Banking Corporation Limited	15/10/2005	17/11/2014	07/06/2016	1180000000.0	India Area Management Office52/60 Mahatma Gandhi Road, P.O Box 128, Mumbai – 40000, Maharashtra, India
4	Y10314939	90213040	CENTURION BANK LTD.	02/06/1997	-	13/02/2004	32000000.0	Maker Chamber, Nariman Point, Mumbai – 400021, Maharashtra, India

FIXED ASSETS

Plant and Equipment
Furniture and fixtures
Office Equipment
Computer Equipments
Leasehold Improvements
Computer Software

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 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 63.39
UK Pound	1	INR 85.74
Euro	1	INR 76.25

INFORMATION DETAILS

Information Gathered by :	SWT

Analysis Done by :	VIV

Report Prepared by :	KJL

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	YES
--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.