MIRA INFORM REPORT

Report No. :	486279
Report Date :	17.01.2018

IDENTIFICATION DETAILS

Name :	PRANAVA ELECTRICAL INDUSTRIES PRIVATE LIMITED
Registered Office :	3A/131, N.I.T Faridabad, Faridabad - 121001, Haryana
Tel. No.:	91-129-4101823
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	20.02.2015
Com. Reg. No.:	05-054665
Capital Investment / Paid-up Capital :	INR 0.300 Million
CIN No.: [Company Identification No.]	U74900HR2015PTC054665
IEC No.:	Not Divulged
TIN No.:	06031312785
GST No.:	06AAICP0290Q1ZY
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAICP0290Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Electrical Winding Wires and Insulation. [Registered Activity]
No. of Employees :	Not Divulged

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 was incorporated in the year 2015 having satisfactory track record. It is engaged as distributor, traders, manufacturers, assemblers, fabricators, repairers, importer, exporter and dealer of control units, switch gear, switch board, circuit board, MCB’s, RCEB’s control gear, industrial electrical goods, power control gears, PVC conduct, lighting and fitting, etc. For the financial year 2017, the company has achieved massive growth in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the satisfactory financial risk profile marked by sufficient net worth base and strong debt protection metrics. However, these rating strengths gets partially offset by its limited track record of its business operation and its presence in highly fragmented and competitive industry. Payments are reported to be slow but correct. In view of aforesaid, 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 (30.06.2017)	Current Rating (30.09.2017)
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 17.01.2018.

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 DECLINED BY

Name :	Mr. Naresh Kumar
Contact No.:	91-9871938200
Date :	13.01.2018

MANAGEMENT NON-COOPERATIVE [TEL. NO.: 9910539950]

[91-129-4101823] Not working

[91-129-2411823] Not exist

LOCATIONS

Registered Office :	3A/131, N.I.T Faridabad, Faridabad - 121001, Haryana, India
Tel. No.:	Not Available
Mobile No.:	91-9871938200 [Mr. Naresh Kumar] 91-9910539950 [Office]
Fax No.:	Not Available
E-Mail :	cma.anilsuneja@gmail.com
Website :	http://www.pranavaelectrical.com

DIRECTORS

AS ON: 31.03.2017

Name :	Mr. Gaurav Verma
Designation :	Director
Address :	3g/32 Gurudwara, N.I.T, Faridabad - 121001, Haryana, India
Date of Appointment :	20.02.2015
DIN No.:	07078086
Name :	Mrs. Neha Verma
Designation :	Director
Address :	3G/32, Gurudwara N. I. T, Fardiabad - 121001, Haryana, India
Date of Appointment :	20.02.2015
DIN No.:	07078307

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders	No. of Shares	% age holding
Gaurav Verma	5000	16.67
Neha Verma	5000	16.67
Naresh Verma	20000	66.67
Total	30000	100.00

AS ON: 29.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters (Individual/Hindu Undivided Family - Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electrical Winding Wires and Insulation. [Registered Activity]

Products :

ITC Code No.

Product Descriptions

99887530

To carry on the business of distributors, traders, manufacturers, assemblers, fabricators, repairers, importers, exporters, agents, brokers, stockists, commission agents and dealers of all kind electrical goods, electrical wires and cables, meters, motors, motor starters, control units, switchgears, switch boards, circuit boards, MCBS, RCEB's, MCCB's, control gears, industrial electrical goods, power control gears, bakelite sheets, PVC conduct and accessories, indoor and outdoor lighting fitting

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS: (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

Not Divulged

Bankers :

Bank Name:	HDFC Bank Limited
Branch:	--
Person Name (with Designation):	--
Contact Number:	--
Name of Account Holder:	--
Account Number:	--
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	--

Auditors :
Name :	Sulekh Chand Jain and Company Chartered Accountants
Address :	E-5, Nehru Ground, Faridabad - 121001, Haryana, India
Income-tax PAN of auditor or auditor's firm :	ACEFS5234N
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
30000	Equity Shares	INR 10/- each	INR 0.300 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	INR 10/- each	INR 0.300 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	0.300	0.300	0.100
(b) Reserves & Surplus	2.410	0.729	0.000
(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)	2.710	1.029	0.100
(3) Non-Current Liabilities
(a) Long-term borrowings	19.073	7.678	0.000
(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)	19.073	7.678	0.000
(4) Current Liabilities
(a) Short term borrowings	31.627	11.486	0.000
(b) Trade payables	59.536	39.724	0.000
(c) Other current liabilities	3.541	5.528	0.000
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	94.704	56.738	0.000
TOTAL	116.487	65.445	0.100
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.960	1.645	0.000
(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)	0.000	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	1.960	1.645	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	26.225	33.042	0.000
(c) Trade receivables	71.566	28.292	0.000
(d) Cash and cash equivalents	5.384	1.449	0.100
(e) Short-term loans and advances	11.352	1.017	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	114.527	63.800	0.100
TOTAL	116.487	65.445	0.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Revenue from Operations	310.170	49.357
		Other Income	0.769	0.063
		TOTAL	310.939	49.420
Less	EXPENSES
		Cost of Materials Consumed	299.980	42.384
		Employees benefits expense	2.429	1.191
		Other expenses	3.083	3.727
		TOTAL	305.492	47.302
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		5.447	2.118
Less	FINANCIAL EXPENSES		2.373	1.138
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		3.074	0.980
Less/ Add	DEPRECIATION/ AMORTISATION		0.242	0.250
	PROFIT BEFORE TAX		2.832	0.730
Less	TAX		1.151	0.001
	PROFIT AFTER TAX		1.681	0.729
	EARNINGS IN FOREIGN CURRENCY
		Foreign Travel Expenses	0.088	0.000
	IMPORTS
		Capitals Goods	34.295	0.000
	Earnings Per Share (INR)		56.02	24.31

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	0.143	0.184	0.000
Cash generated from operations	NA	NA	NA
Net Cash flow from (used in) Operations	NA	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	84.22	209.22	NA
Account Receivables Turnover (Income / Sundry Debtors)	4.33	1.74	NA
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	72.44	342.09	NA
Inventory Turnover (Operating Income / Inventories)	0.21	0.06	NA
Asset Turnover (Operating Income / Net Fixed Assets)	2.78	1.29	NA

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.98	0.99	NA
Debt Equity Ratio (Total Liability / Networth)	18.76	18.80	NA
Current Liabilities to Networth (Current Liabilities / Net Worth)	34.95	55.14	NA
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.72	1.60	NA
Interest Coverage Ratio (PBIT / Financial Charges)	2.30	1.86	NA

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.54	1.48	NA
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.44	1.11	NA
Return on Investment (ROI) ((PAT / Networth) * 100)	%	62.03	70.85	NA

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.21	1.12	0.00
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.93	0.54	0.00
G-Score Ratio Financial (Networth / Total Assets)	0.02	0.02	1.00
G-Score Ratio Debt (Debts / Equity Capital)	169.48	64.49	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.21	1.12	0.00

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	0.100	0.300	0.300
Reserves & Surplus	0.000	0.729	2.410
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.100	1.029	2.710
long-term borrowings	0.000	7.678	19.073
Short term borrowings	0.000	11.486	31.627
Current Maturities of Long term debt	0.000	0.184	0.143
Total borrowings	0.000	19.348	50.843
Debt/Equity ratio	0.000	18.803	18.761

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	49.357	310.170
		528.422

NET PROFIT MARGIN

Net Profit Margin	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	49.357	310.170
Profit	0.729	1.681
	1.48%	0.54%

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	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	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 two 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

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G43970417	100085896	HDFC BANK LIMITED	31/12/2016	02/04/2017	-	42000000.0	HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN

BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIRS

Company make any revenue from operations of INR 310.170 million. Company promises to achieved growth in future.

FIXED ASSETS:

· Electrical and other instruments

· Furniture

· Computer

· 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 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 63.76
UK Pound	1	INR 87.91
Euro	1	INR 78.20

INFORMATION DETAILS

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

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.