MIRA INFORM REPORT

Report No. :	516223
Report Date :	22.06.2018

IDENTIFICATION DETAILS

Name :	UNITED TRANSFORMERS
Registered Office :	G-687 (A), Road No. 9F2, V. K. I. Area, Jaipur-302013, Rajasthan
Mobile No.:	91-9828080864 [Mr. Anil]
Country :	India
Financials (as on) :	31.03.2018 [Turnover Figure] 31.03.2017 [Detailed Financial]
Year of Establishment :	1994
Capital Investment :	INR 6.606 Million [As on 31.03.2017]
IEC No.: [Import-Export Code No.]	1305029691
PAN No.: [Permanent Account No.]	AFOPM3126Q
GSTN : [Goods & Service Tax Registration No.]	08AFOPM3126Q1ZT
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturer and Exporter of Industrial Transformers. [Confirmed by Management]
No. of Employees :	20 [Approximately]

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 :	Usually Correct
Litigation :	Clear
Comments :	Subject was established in the year 1994 as a proprietorship firm and it is having satisfactory track records. It is a manufacturer and exporter of industrial transformers. For the financial year 2017, the firm has increased its revenue from operation as compared to previous year and maintained average profitability margin of 1.22%. Rating takes into consideration firm’s sound financial risk profile marked by adequate capital base and low debt balance sheet. The firm also derives strength from its long standing track records of business operations and improvement in the revenue as well as profitability profile during the year. Trade relations are reported as fair. Business is active. Payment terms are seems to be usually correct. In view of aforesaid, the firm 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 (31.12.2017)	Current Rating (01.04.2018)
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 31-03-2018.

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 22.06.2018.

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. Anil Sharma
Designation :	Chief Executive Officer
Contact No.:	91-141-4010576
Date :	20.06.2018

LOCATIONS

Registered/ Admn/ Head Office/ Factory :	G-687 (A), Road No. 9F2, V. K. I. Area, Jaipur-302013, Rajasthan, India
Tel. No.:	91-141-4010576
Mobile No.:	91-9828080864 [Mr. Anil]
Fax No.:	91-141-4038129/ 5104568
E-Mail :	support@unitedtransformers.com
Website :	http://www.unitedtransformers.com
Area :	1400 Sq. Ft.
Location :	Owned
Locality :	Industrial

SOLE PROPRIETOR

Name :	Mr. Om Prakash Mursenia
Designation :	Proprietor
Address :	2/277 Vidhyadhar Nagar, Jaipur-302021, Rajasthan, India
Date of Birth/Age :	65 Years
Qualification :	Electrical Eng.
Experience :	40 Years
PAN No.:	AFOPM3126Q

KEY EXECUTIVES

Name :	Mr. Anil Sharma
Designation :	Chief Executive Officer

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Industrial Transformers. [Confirmed by Management]
Products/ Services :	Industrial Transformers
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Industrial Transformers
Countries :	· Nepal · Bhutan · Ghana
Imports :
Products :	Not Available
Countries :	Not Available
Terms :
Selling :	Advance Payment, L/C and Cheque
Purchasing :	Credit [15-30 Days]

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesaler, End Users and Others [Traders]

Reference:	Manan Traders, Jodhpur
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

· Surendra Electricals Private Limited

No. of Employees :

20 [Approximately]

Bankers :

Bank Name:	ICICI Bank Limited
Branch:	VKI Area, Jaipur-302013, Rajasthan, India
Person Name (with Designation):	--
Contact Number:	91-141-2330696
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:	Continuously ringing

Auditors :
Name :	Kaushik Agarwal and Company Chartered Accountants
Address :	Jaipur, Rajasthan, India
M. No:	074659
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2017

Capital Investment :
Owned :	INR 6.606 Million
Borrowed :	---
Total :	INR 6.606 Million

FINANCIAL ANALYSIS

[all figures are in INR Million]

PARTICULARS	31.03.2018
Sales Turnover (Approximately)	169.300
	[Due to business growth]

The above information has been parted by Mr. Anil Sharma [Chief Executive Officer]

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.03.2017	31.03.2016
SHAREHOLDERS FUNDS
1] Capital Account			6.606	4.439
2] Reserves & Surplus			3.015	2.232
NETWORTH			9.621	6.671
LOAN FUNDS
1] Secured Loans
2] Unsecured Loans
TOTAL BORROWING			3.277	2.274
DEFERRED TAX LIABILITIES			0.000	0.000
TOTAL			12.898	8.945
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]			14.333	9.811
Capital work-in-progress			0.000	0.000
INVESTMENT			0.556	0.404
DEFERRED TAX ASSETS			0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories		13.367	8.349
	Sundry Debtors		23.310	17.203
	Cash & Bank Balances		0.978	0.684
	Other Current Assets		1.415	1.375
	Loans & Advances		3.734	5.282
Total Current Assets			42.804	32.893
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities
	Provisions
Total Current Liabilities			44.795	34.163
Net Current Assets			(1.991)	(1.270)
MISCELLANEOUS EXPENSES			0.000	0.000
TOTAL			12.898	8.945

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Sales	135.350	109.992
		Other Income	0.562	0.866
		TOTAL	135.912	110.858
Less	EXPENSES
		Cost of Goods Sold	118.562	98.090
		Direct Expenses	7.418	4.849
		Administrative, Selling and Other Expenses	7.384	5.746
		TOTAL	133.364	108.685
	PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		2.548	2.173
Less	INTEREST		0.118	0.154
	PROFIT BEFORE, DEPRECIATION AND AMORTISATION		2.430	2.019
Less/ Add	DEPRECIATION/ AMORTISATION		0.782	0.635
	NET PROFIT/ (LOSS)		1.648	1.384

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Average Collection Days (Sundry Debtors / Income * 365 Days)	62.86	57.09
Account Receivables Turnover (Income / Sundry Debtors)	5.81	6.39
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	0.19	0.26
Asset Turnover (Operating Income / Net Fixed Assets)	0.18	0.22

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.83	0.85
Debt Equity Ratio (Total Liability / Networth)	0.34	0.34
Current Liabilities to Networth (Current Liabilities / Net Worth)	4.66	5.12
Fixed Assets to Networth (Net Fixed Assets / Networth)	1.49	1.47
Interest Coverage Ratio (PBIT / Financial Charges)	21.59	14.11

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016
Net Profit Margin ((PAT / Sales) * 100)	%	1.22	1.26
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.86	3.21
Return on Investment (ROI) ((PAT / Networth) * 100)	%	17.13	20.75

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Current Ratio (Current Assets / Current Liabilities)	0.96	0.96
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.66	0.72
G-Score Ratio Financial (Networth / Total Assets)	0.17	0.15
G-Score Ratio Debt (Debts / Equity Capital)	0.50	0.51
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.96	0.96

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	31.03.2016	31.03.2017
	INR In Million	INR In Million
Capital Account	4.439	6.606
Reserves & Surplus	2.232	3.015
Net worth	6.671	9.621
Secured Loans
Unsecured Loans
Total borrowings	2.274	3.277
Debt/Equity ratio	0.341	0.341

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	109.992	135.350
		23.054

NET PROFIT MARGIN

Net Profit Margin	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	109.992	135.350
Profit	1.384	1.648
	1.26%	1.22%

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	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)	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	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	No
29	Profitability for last two 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	Indian Rupees
US Dollar	1	INR 68.20
UK Pound	1	INR 89.58
Euro	1	INR 78.79

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	PRS
Report Prepared by :	IND

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--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.