MIRA INFORM REPORT

Report No. :	493330.2
Report Date :	03.03.2018

IDENTIFICATION DETAILS

Name :	SRI RATHI RETAIL
Registered Office :	69/38, M.R. Compound, Naya Bazar, Manku Ram, Behind Raj Guest House, Siliguri-734005, West Bengal
Mobile No.:	91-9832023324 [Mr. Rajesh Rathi]
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	2004
Capital Investment :	INR 4.730 Million
IEC No.:	Not Divulged
GST No.:	Not Divulged
TIN No.:	Not Divulged
PAN No.: [Permanent Account No.]	Not Divulged
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Trading, Dealer, Wholesaler and Supplier of Computers, Printers, Mobiles, Laptops, Digital Camera Accessories, Digital Voice Recorders and Accessories, etc. [Confirmed by Management]
No. of Employees :	25 [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

Maximum Credit Limit :	USD 13500 [INR 873517.50]
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a partnership firm established in the year 2004. It is a trader, dealer, wholesaler and supplier of Computers, Printers, Mobiles, Laptops, Digital Camera Accessories and Digital Voice Recorders. Mr. Rajesh Rathi (Partner) has provided partial information. For the financial year 2017, the firm has achieved revenue of INR 106.000 million along with healthy profit margin of 0.26%. The satisfactory financial profile of the firm is marked by sufficient capital base along with strong debt coverage indicators due to low debt balance sheet profile. Business is active. Payment seems to be usually correct. In view of aforesaid, the firm can be considered for business dealings at usual trade terms and conditions. Note: Site Visit was conducted at the given address and our executive has successfully traced the subject at the given address. At the premises our executive met Mr. Rajiv Rathi (Partner) and he confirmed that subject is situated on the given address. At the premises our executive enquired with subject’s sister Concern Rathi Commodities (Mr. Murad) and he confirmed that subject is situated on the given address. During the site visit our executive also enquired with neighbour company Rathi Trader (Mr. Sumit) and he confirmed that subject is situated on the given address. As per our executive’s observation it is a 2 storey building and subject situated on the ground floor. Location was easy to find and locality appears to be commercial cum residential. Area seems to be upmarket. Total area of premises is 1000 (sq. ft.) and 10 employees were sighted at the premises. Name board of the subject was sighted.

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

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 03.03.2018.

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 [PARTIAL DETAILS]

Name :	Mr. Rajesh Rathi
Designation :	Partner
Contact No.:	91-9832023324
Date :	25.02.2018

LOCATIONS

Registered Office :	69/38, M.R. Compound, Naya Bazar, Manku Ram, Behind Raj Guest House, Siliguri-734005, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-9832023324 [Mr. Rajesh Rathi]
Fax No.:	Not Available
E-Mail :	rajeshrathi71@gmail.com
Website :	http://www.srirathiretail.com
Area :	1000 Sq. Ft. [As per site visit]
Location :	Owned
Locality :	Commercial

PARTNERS

Name :	Mr. Rajesh Rathi
Designation :	Partner
Date of Birth/Age :	07.10.1971
Qualification :	B. Sc.
Name :	Mr. Rajeev Rathi
Designation :	Partner
Date of Birth/Age :	11.02.1978
Qualification :	B. Com

BUSINESS DETAILS

Line of Business :	Trading, Dealer, Wholesaler and Supplier of Computers, Printers, Mobiles, Laptops, Digital Camera Accessories, Digital Voice Recorders and Accessories, etc. [Confirmed by Management]
Products/ Services :	· Computers · Printers · Mobiles · Laptops · Digital Camera Accessories, etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	· Computers · Printers · Mobiles · Laptops · Digital Camera Accessories, etc.
Countries :	Nepal
Imports :
Products :	Not Available
Countries :	Not Available
Terms :
Selling :	Others [NEFT, RTGS]
Purchasing :	Others [NEFT, RTGS]

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesaler and Retailers

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

No. of Employees :

25 [Approximately]

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 :	ABMS and Company Chartered Accountants
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Rathi Commodities

CAPITAL STRUCTURE

AS ON 31.03.2017

Capital Investment :
Owned :	INR 4.730 Million
Borrowed :	---
Total :	INR 4.730 Million

FINANCIAL ANALYSIS

[all figures are in INR Million]

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
SHAREHOLDERS FUNDS
1] Proprietor Capital Account		4.730
2] Reserves & Surplus		0.000
NETWORTH		4.730
LOAN FUNDS
1] Secured Loans		24.213
2] Unsecured Loans		7.728
TOTAL BORROWING		31.941
DEFERRED TAX LIABILITIES		0.000
TOTAL		36.671
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.231
Capital work-in-progress		0.000
INVESTMENT		1.152
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.297
	Sundry Debtors	23.487
	Cash & Bank Balances	1.628
	Other Current Assets	1.012
	Loans & Advances	0.000
Total Current Assets		41.424
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.572
	Other Current Liabilities	0.554
	Provisions	0.010
Total Current Liabilities		6.136
Net Current Assets		35.288
MISCELLANEOUS EXPENSES		0.000
TOTAL		36.671

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017
	SALES
		Sales	106.001
		Other Income	0.584
		TOTAL	106.585
Less	EXPENSES
		Cost of Goods Sold	100.017
		Fuel Expenses	0.021
		Accounting Charges	0.018
		Audit Fees	0.010
		Miscellaneous Expenses	0.111
		Postage	0.001
		Rates and Taxes	0.006
		Printing and Stationery	0.025
		Repairs and Maintenance	0.014
		Salary and Staff Welfare	0.530
		Telephone Expenses	0.125
		Travelling and Conveyance	0.019
		Remuneration	0.631
		Interest on Capital	0.448
		TOTAL	101.976
	PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		4.609
Less	FINANCIAL EXPENSES		4.300
	PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION		0.309
Less/ Add	DEPRECIATION/ AMORTISATION		0.038
	NET PROFIT/ (LOSS)		0.271

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	80.87
Account Receivables Turnover (Income / Sundry Debtors)	4.51
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	20.33
Inventory Turnover (Operating Income / Inventories)	0.30
Asset Turnover (Operating Income / Net Fixed Assets)	19.95

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.89
Debt Equity Ratio (Total Liability / Networth)	6.75
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.93
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.05
Interest Coverage Ratio (PBIT / Financial Charges)	1.07

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	0.26
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.63
Return on Investment (ROI) ((PAT / Networth) * 100)	%	5.73

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	2.99
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.88
G-Score Ratio Financial (Networth / Total Assets)	0.11
G-Score Ratio Debt (Debts / Equity Capital)	6.75
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.99

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

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	Yes
5	Buyer visit details	Yes
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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
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 one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year	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

OBSERVATION POINTS

Name of Company :	SRI RATHI RETAIL
Address :	69/38, M.R. Compound, Naya Bazar, Manku Ram, Behind Raj Guest House, Siliguri-734005, West Bengal, India
Contact No.:	91-9832063329
Date of Visit :	27.02.2018
E-mail :	retail.rathi@gmail.com
Person to whom we met:	Mr. Rajiv Rathi (Partner)
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	M.R. Compound
Total Floors of the Building :	2 Floors
Subject situated on:	Ground Floor
Locality:	Commercial cum Residential
Area of Premises :	1000 Sq. Ft.
Area :	Upmarket
No. of employees seen at premises:	10 [Approx.]
Visibility of Items:	· Telephone · Office Equipment
Furniture Items Sighted :	Table & Chair
Neighbours Interview :	During the site visit our executive also enquired with neighbour company Rathi Trader (Mr. Sumit) and he confirmed that subject is situated on the given address.
Proof of visit:	Photos

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 65.23
UK Pound	1	INR 89.71
Euro	1	INR 79.50

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	VAR
Report Prepared by :	IND

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.