MIRA INFORM REPORT

Report No. :	486885
Report Date :	19.01.2018

IDENTIFICATION DETAILS

Name :	SANGLI ALUMINIUM EXTRUSIONS PRIVATE LIMITED
Registered Office :	Plot No. H-13 & 14, M.I.D.C. Kupwad Block, Sangli-416436, Maharashtra
Tel. No.:	91- 233-2644168, 2645568
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	17.05.1994
Com. Reg. No.:	11-078416
Capital Investment / Paid-up Capital :	INR 15.000 Million
CIN No.: [Company Identification No.]	U72203PN1994PTC078416
IEC No.:	Not Divulged
GSTIN :	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Divulged
PAN No.: [Permanent Account No.]	AADCS9485R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Extruded Aluminium Profiles, Bar and Rods, Hollow Bar (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 is an established company incorporated in the year 1994 having satisfactory track. Management of the company not has filed its financial with the government department for the year 2017 As per available financial of 2016, the company has witnessed a growth in its revenue and has achieved fair profit margin at 1.04% (approximately) The company possesses sound financial profile marked by healthy networth base along with fair debt level of the company. The company also derives strength from its long standing track record of business operations. Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. In view of the 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

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 19.01.2018

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 BY

Name :	Mr. Raj Mane
Designation :	Accounts Department
Contact No.:	91-233-2644168
Date :	18.01.2018

LOCATIONS

Registered Office :	Plot No. H-13 & 14, M.I.D.C. Kupwad Block, Sangli-416436, Maharashtra, India
Tel. No.:	91- 233-2644168, 2645568
Fax No.:	91- 233-2644169
E-Mail :	sales@sanglialuminium.com accounts@sanglialuminium.com
Website :	http://www.sanglialuminium.com

DIRECTORS

As on 31.03.2017

Name :	Mr. Jethalal Premji Chheda
Designation :	Managing Director
Address :	F/9, Adinath Nagar, Near Ratanshi Nagar, Sangli-416416, Maharashtra, India
Date of Birth/Age :	14.12.1944
Date of Appointment :	17.05.1994
DIN No.:	00101696
Name :	Mrs. Vijaya Jethalal Chheda
Designation :	Director
Address :	F/9, Adinath Nagar, Near Ratanshi Nagar, Sangli-416416, Maharashtra, India
Date of Birth/Age :	14.09.1949
Date of Appointment :	25.03.1999
DIN No.:	00101762
Name :	Mr. Ravindra Jethalal Chheda
Designation :	Director
Address :	F/9, Adinath Nagar, Near Ratanshi Nagar, Sangli-416416, Maharashtra, India
Date of Birth/Age :	06.08.1973
Date of Appointment :	17.05.1994
DIN No.:	00101787
Name :	Mrs. Reena Ravindra Chheda
Designation :	Director
Address :	F/9, Adinath Nagar, Near Ratanshi Nagar, Sangli-416416, Maharashtra, India
Date of Birth/Age :	12.08.1978
Date of Appointment :	01.04.2000
DIN No.:	00101815
Name :	Mr. Niten Khushal Maru
Designation :	Director
Address :	F/9, Adinath Nagar, Near Ratanshi Nagar, Sangli-416416, Maharashtra, India
Date of Birth/Age :	12.02.1977
Date of Appointment :	01.04.2005
DIN No.:	00101841
Name :	Mrs. Dhanashri Niten Maru
Designation :	Director
Address :	F/9, Adinath Nagar, Near Ratanshi Nagar, Sangli-416416, Maharashtra, India
Date of Birth/Age :	21.09.1977
Date of Appointment :	01.04.2005
DIN No.:	00101871

KEY EXECUTIVES

Name :	Mr. Raj Mane
Designation :	Accounts Department

MAJOR SHAREHOLDERS

As on 31.03.2016

Names of Shareholders	No. of Shares
Jethalal Premji Chheda	2350
Vijaya Jethalal Chheda	2375
Ravindra Jethalal Chheda	2400
Reena Ravindra Chheda	800
Niten Khushal Maru	1150
Dhanashri Niten Maru	1450
Jethalal Premji Chheda (HUF)	3050
Ravindra Chheda (HUF)	1400
Navalben Gada	25
Total	15000

Equity Share Break up (Percentage of Total Equity)

As on 30.12.2016

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

BUSINESS DETAILS

Line of Business :

Manufacturer of Extruded Aluminium Profiles, Bar and Rods, Hollow Bar (Registered Activity)

Products / Services :

Item Code No.	Products/Services Description
76042990	Extruded Aluminium Profiles, Bar and Rods

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 :

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

No. of Employees :

Not Divulged

Bankers :

Banker Name :	Axis Bank Limited
Branch :	Ground Floor, DSP Plaza, City Survey No.32/A, Amarai Road, Azad Chowk, Sangli-416416, Maharashtra, India
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

· Small Industries Development Bank of India, S-10, Ground Floor, Royal Heritage, C. S. No. 395/1-B, Plot No.15, E Ward, Opposite Basant Bahar Theater, Kolhapur-416001, Maharashtra, India

Facilities :

Secured Loan	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
SIDBI Term loan	33.458	0.000
Axis Bank T/L – 1 Machinery	0.000	0.350
Axis Bank T/L – 2 Machinery	0.000	0.290
Axis Bank T/L – 3 Machinery	0.000	0.931
Deposits of Directors and Relatives
Deposit - Dhanashri Niten Maru	6.836	4.686
Deposit - Jethalal Premji Chheda	6.940	6.540
Deposit - Jethalal Premji Chheda (HUF)	3.548	1.880
Deposit - Niten Khushal Maru	5.175	3.258
Deposit - Ravindra Chheda	7.880	5.800
Deposit - Ravindra Chheda (HUF)	3.050	1.590
Deposit - Reena Ravindra Chheda	9.075	6.750
Deposit - Vijaya Jethalal Chheda	5.808	5.808
Interest free deposits from directors
Deposit - Dhanashri Niten Maru	0.800	0.000
Deposit - Jethalal Premji Chheda	0.910	0.000
Deposit - Jethalal Premji Chheda (HUF)	0.500	0.000
Deposit - Niten Khushal Maru	0.600	0.000
Deposit - Ravindra Chheda	0.975	0.000
Deposit - Ravindra Chheda (HUF)	0.415	0.000
Deposit - Reena Ravindra Chheda	1.075	0.000
Deposit - Vijaya Jethalal Chheda	0.725	0.000
Short-term borrowings
Axis Bank Limited – O/D - 91003049648668	84.388	99.167
Total	172.158	137.050

Auditors :
Name :	R. J. Kulkarni and Company Chartered Accountants
Address :	14, Preeti Apartments, Near Mali Theatre, Shivaji Nagar (South), Sangli – 416416, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	ACCPK5855D
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 30.12.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	INR 1000/- each	INR 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15000	Equity Shares	INR 1000/- each	INR 15.000 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	15.000	15.000	15.000
(b) Reserves & Surplus	55.706	48.260	43.193
(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)	70.706	63.260	58.193
(3) Non-Current Liabilities
(a) long-term borrowings	87.770	37.883	53.846
(b) Deferred tax liabilities (Net)	1.981	4.588	2.407
(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)	89.751	42.471	56.253
(4) Current Liabilities
(a) Short term borrowings	84.388	99.167	91.755
(b) Trade payables	1.045	2.209	27.008
(c) Other current liabilities	21.472	35.440	20.472
(d) Short-term provisions	7.432	5.798	3.088
Total Current Liabilities (4)	114.337	142.614	142.323
TOTAL	274.794	248.345	256.769
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	60.037	67.600	70.186
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	4.288	0.362	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.677	0.677	2.278
(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	65.002	68.639	72.464
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	71.034	80.605	90.994
(c) Trade receivables	54.971	68.122	61.248
(d) Cash and cash equivalents	29.080	1.137	2.882
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	54.707	29.842	29.181
Total Current Assets	209.792	179.706	184.305
TOTAL	274.794	248.345	256.769

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Income	540.777	532.887	465.303
	Other Income	0.683	2.142	0.871
	TOTAL	541.460	535.029	466.174
Less	EXPENSES
	Cost of Materials Consumed	473.877	470.831	434.032
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	9.571	10.389	(20.907)
	Employees benefits expense	15.873	14.146	14.996
	Other expenses	4.166	3.688	3.790
	TOTAL	503.487	499.054	431.911
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	37.973	35.975	34.263
Less	FINANCIAL EXPENSES	18.985	18.592	18.695
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	18.988	17.383	15.568
Less/ Add	DEPRECIATION/ AMORTISATION	12.006	7.969	8.141
	PROFIT/ (LOSS) BEFORE TAX	6.982	9.414	7.427
Less	TAX	1.348	4.347	2.363
	PROFIT/ (LOSS) AFTER TAX	5.634	5.067	5.064
	Earnings / (Loss) Per Share (INR)	375.60	337.80	337.60

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	1.515	5.015	5.178
Cash generated from operations	1.557	2.755	6.407
Net cash flows from (used in) operations	(0.608)	0.755	4.407

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	37.10	46.66	48.05
Account Receivables Turnover (Income / Sundry Debtors)	9.84	7.82	7.60
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.80	1.71	22.71
Inventory Turnover (Operating Income / Inventories)	0.53	0.45	0.38
Asset Turnover (Operating Income / Net Fixed Assets)	0.59	0.53	0.49

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.74	0.75	0.78
Debt Equity Ratio (Total Liability / Networth)	2.46	2.25	2.59
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.62	2.25	2.45
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.91	1.07	1.21
Interest Coverage Ratio (PBIT / Financial Charges)	2.00	1.93	1.83

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	1.04	0.95	1.09
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.05	2.04	1.97
Return on Investment (ROI) ((PAT / Networth) * 100)	%	7.97	8.01	8.70

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.83	1.26	1.29
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.21	0.69	0.66
G-Score Ratio Financial (Networth / Total Assets)	0.26	0.25	0.23
G-Score Ratio Debt (Debts / Equity Capital)	11.58	9.47	10.05
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.83	1.26	1.29

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	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Share Capital	15.000	15.000	15.000
Reserves & Surplus	43.193	48.260	55.706
Net worth	58.193	63.260	70.706
long-term borrowings	53.846	37.883	87.770
Short term borrowings	91.755	99.167	84.388
Current maturities of long-term debts	5.178	5.015	1.515
Total borrowings	150.779	142.065	173.673
Debt/Equity ratio	2.591	2.246	2.456

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	465.303	532.887	540.777
		14.525	1.481

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	465.303	532.887	540.777
Profit	5.064	5.067	5.634
	1.09%	0.95%	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)	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	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	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

PERFORMANCE OVERVIEW DURING THE YEAR

The company’s main business operation is manufacture or draw through extrusion process aluminium pipes, wires, tubes, hollow bars whether square, rectangular, round or otherwise and also to engage as buyer, seller, dealer, distributor, agent job-worker, importer or exporter of aluminium extruded products and to manufacture or draw through extrusion process copper, bronze or steel pipes, wires, tubes, hollow bars whether square, etc. The market of Aluminium is volatile and linked with international market trend and prices. As there were volatile conditions in the raw material during the period under report, cost of consumption is hiked slightly. So also there was slack and recessionary trend in the market during the financial year due to which though turnover is satisfactory, The company has earned good profit. In the coming year we hope to there would be good future for the business.

INDEX OF CHARGES

S No	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G42650432	100094260	Axis Bank Limited	25/07/2016	-	-	1115000.0	GROUND FLOOR, DSP PLAZA, CITY SURVEY NO.32/A, AMARAI ROAD, AZAD CHOWK, SANGLI SANGI MAHARASHTRA 416416 INDIA
2	C82555558	10628179	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	22/03/2016	-	-	67500000.0	S-10,GROUND FLOOR, ROYAL HERITAGE,C.S.NO.395/1-BPLOT NO.15, E WARD, OPP. BASANT BAHAR THEATER KOLHAPUR MAHARASHTRA 416001 INDIA
3	C12038915	10258995	Axis Bank Limited	23/12/2010	26/06/2014	-	114300000.0	TRISHUL, 3RD FLOOR, OPP. SAMARTHESHWAR TEMPLE,LAW GARDEN, ELLIS BRIDGE, AHMEDABAD GJ 380006 INDIA
4	B03258233	10146927	THE KARAD URBAN CO-OP BANK Limited	02/02/2009	02/02/2010	31/12/2010	35000000.0	KARNAL CHOWKY BRANCH KARNAL CHOWKY SANGLI MAHARASHTRA 416416 INDIA
5	B03257821	10154670	The Karad Urban Co-op Bank Limited	23/01/2009	-	31/12/2010	10000000.0	KARNAL CHOWKY BRANCH KARNAL CHOWKY SANGLI MAHARASHTRA 416416 INDIA
6	B03257045	10146930	The Karad Urban Co-op Bank Limited	19/02/2009	-	31/12/2010	12500000.0	KARNAL CHOWKY BRANCH KARNAL CHOWKY SANGLI MAHARASHTRA 416416 INDIA
7	A71305205	90093166	HDFC BANK LIMITED	27/04/2005	16/08/2006	14/10/2009	5000000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL W MUMBAI MAHARASHTRA 400013 INDIA
8	A71305957	90088979	HDFC BANK LIMITED	27/04/2005	-	14/10/2009	5000000.0	SENAPATI BAPAT MARG MUMBAI MAHARASHTRA INDIA

FIXED ASSETS

• Land Leasehold
• Land Freehold
• Factory Building
• Furniture and Fixture
• Computer
• Plant and Machinery
• Vehicles
• Electrical Installations
• Office Equipment

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 63.72
UK Pound	1	INR 88.64
Euro	1	INR 78.14

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	DIV
Report Prepared by :	JYTK

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.

·