MIRA INFORM REPORT

Report No. :	497948
Report Date :	15.03.2018

IDENTIFICATION DETAILS

Name :	BLUE SEA COMMODITIES PRIVATE LIMITED
Registered Office :	Flat No.104, Floor 1, Wing-C, Avirahi-C, Prem Nagar Shanti Garden Road, Mira Road (East), Thane – 401107, Maharashtra
Mobile No.:	91-7666182937 (Mr. Mahesh Kinger)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	29.06.2016
Com. Reg. No.:	11-283038
Capital Investment / Paid-up Capital :	INR 0.100 Million
CIN No.: [Company Identification No.]	U74999MH2016PTC283038
IEC No.:	Not Applicable (As informed by the management that firm does not have export and import)
GST No.:	27AAGCB7888Q1ZK
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAGCB7888Q
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of Iron and Steel Products like HR Sheet, Hot Roll Sheet, Hot Coil, Galvanized Coil, MS Channel and TMT Bar and also Fabrics. [Confirmed by Management and also Memorandum of Association]
No. of Employees :	10 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Blue Sea Commodities Private Limited was incorporated in June 2016. It is a Trading of Iron and Steel Products like HR Sheet, Hot Roll Sheet, Hot Coil, Galvanized Coil, MS Channel and TMT Bar and also Fabrics. For the financial year 2017, the company has earned revenue of INR 1852.86 million along with low profit margin of 0.05%. The moderate financial profile of the company is marked by modest networth base. Rating is constrained on account of limited track record of the company. However, rating weakness is partially offset by strong debt coverage indicators due to debt free balance sheet profile. The company has decent Earning Per Share (EPS) of INR 89.34 against the face value (FV) of INR 10. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution.

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 15.03.2018.

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

Name :	Mr. Mahesh Kinger
Designation :	Marketing Head
Contact No.:	91-7666182937

[Given 91-22-40036970 is ringing and www.blueseagroup.co [Website not working]

LOCATIONS

Registered Office :	Flat No.104, Floor 1, Wing-C, Avirahi-C, Prem Nagar, Shanti Garden Road, Mira Road (East), Thane – 401107, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-7666182937 (Mr. Mahesh Kinger) 91-9004097822 (Mr. Vijay)
Fax No.:	Not Available
E-Mail :	vm.nihalani@gmail.com blueseacommoditiespvtltd@gmail.com bluesea.commodities@gmail.com sales@blueseagroup.co
Warehouse :	Located at: · Mumbai, Maharashtra, India

DIRECTORS

AS ON 31.03.2017

Name :	Mrs. Riya Mahesh Kinger
Designation :	Director
Address :	Plot No. 101/A, Sindhi Colony, Near Sindhu Bhawan, Aurangabad – 431001, Maharashtra, India
Date of Birth/Age :	08.08.1980
Qualification :	Graduation/Bachelor/Equivalen
Date of Appointment :	29.06.2016
Aadhar No.:	908784241886
PAN No.:	BDAPK3865M
DIN No.:	07525565
Name :	Mr. Mohan Govindram Nihlani
Designation :	Director
Address :	Plot No. 73 - B Sindhi Colony Jalana Road, Aurangabad – 431005, Maharashtra, India
Date of Birth/Age :	21.10.1951
Qualification :	Graduation/Bachelor/Equivalent
Date of Appointment :	29.06.2016
PAN No.:	AAMPN1449C
Passport No.:	N6577963
DIN No.:	07525959

KEY EXECUTIVES

Name :	Mr. Mahesh Kinger
Designation :	Marketing Head

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares	Percentage of Holding
Mohan Govindram Nihlani	5000	50.00
Riya Mahesh Kinger	5000	50.00
Total	10000	100.00

AS ON: 30.09.2017

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

BUSINESS DETAILS

Line of Business :

Trading of Iron and Steel Products like HR Sheet, Hot Roll Sheet, Hot Coil, Galvanized Coil, MS Channel and TMT Bar and also Fabrics. [Confirmed by Management and also Memorandum of Association]

Products/ Services :

ITC Code No.	Product Descriptions
99611929	Other non-ferrous metals and articles thereof n.e.c.

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Not Available

Countries :

Not Available

Imports :

Products :

Not Available

Countries :

Not Available

Terms :

Selling :

Cash and Cheque

Purchasing :

Cash and Cheque

PRODUCTION STATUS: (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference :	Aikya Infrastructure Private Limited
Name of the Person :	---
Contact No.:	---
Since How Long Known :	---
Maximum Limit Dealt :	---
Experience :	---
Remark :	---

Customers :

Wholesalers

Reference :	KLT Automotive
Name of the Person :	---
Contact No.:	---
Since How Long Known :	---
Maximum Limit Dealt :	---
Experience :	---
Remark :	---

No. of Employees :

10 (Approximately)

Bankers :

Banker Name :	Axis Bank Limited
Branch :	Andheri (East), Mumbai-400093, Maharashtra, India
Person Name (With Designation) :	---
Contact Number :	91-22-28302290
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 :	Ringing

Auditors :
Name :	Mr. Harish Sampat Chartered Accountant
Address :	Gita Graha 4 Picket Road, 3rd Floor R No 83, Mumbai-400002, Maharashtra, India
PAN NO:	AQMPS7952B
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
10000	Equity Shares	INR 10/- each	INR 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	INR 10/- each	INR 0.100 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	0.893
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	0.993
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	91.828
(c) Other current liabilities	0.006
(d) Short-term provisions	0.619
Total Current Liabilities (4)	92.453
TOTAL	93.446
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	0.000
(2) Current assets
(a) Current investments	0.000
(b) Inventories	1.972
(c) Trade receivables	80.997
(d) Cash and cash equivalents	9.971
(e) Short-term loans and advances	0.506
(f) Other current assets	0.000
Total Current Assets	93.446
TOTAL	93.446

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017
	SALES
		Revenue from Operations	1852.866
		Other Income	0.000
		TOTAL	1852.866
Less	EXPENSES
		Purchases of Stock-in-Trade	1849.035
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1.972)
		Other expenses	4.521
		TOTAL	1851.584
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1.282
Less	FINANCIAL EXPENSES		0.000
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.282
Less/ Add	DEPRECIATION/ AMORTISATION		0.000
	PROFIT/ (LOSS) BEFORE TAX		1.282
Less	TAX		0.389
	PROFIT/ (LOSS) AFTER TAX		0.893
	Earnings/ (Loss) Per Share (INR)		89.34

Expected Sales (2017-2018): INR 1870.000 Million [Due to Business Growth]

The above information has been parted by Mr. Mahesh Kinger (Marketing Head)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2017
Current Maturities of Long term debt	NA
Net cash flows from (used in) operations	10.765
Net cash flows from (used in) operating activities	10.765

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	15.96
Account Receivables Turnover (Income / Sundry Debtors)	22.88
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	18.13
Inventory Turnover (Operating Income / Inventories)	0.65
Asset Turnover (Operating Income / Net Fixed Assets)	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.99
Debt Equity Ratio (Total Liability / Networth)	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	93.10
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00
Interest Coverage Ratio (PBIT / Financial Charges)	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	0.05
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.96
Return on Investment (ROI) ((PAT / Networth) * 100)	%	89.93

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.01
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.99
G-Score Ratio Financial (Networth / Total Assets)	0.01
G-Score Ratio Debt (Debts / Equity Capital)	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.01

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	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)	No
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	Yes
23	Financials, if provided	No
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last one year	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	Yes
29	Profitability for last one year	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGE: NO CHARGES EXISTS FOR COMPANY

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 64.99
UK Pound	1	INR 90.83
Euro	1	INR 80.58

INFORMATION DETAILS

Information Gathered by :	SHA
Analysis Done by :	VAR
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	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.