MIRA INFORM REPORT

Report No. :	498205
Report Date :	17.03.2018

IDENTIFICATION DETAILS

Name :	QWIKPIK TECHNOLOGY PRIVATE LIMITED
Registered Office :	Flat No. 303, 3^rd Floor, Plot-170E, Al Bahar Corporate Housing Society Limited, Swatantrya Veer Savarkar Marg, Kapad Bazar, Mahim (West), Mumbai – 400016, Maharashtra
Tel. No.:	91-80-97024899
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	09.03.2016
Com. Reg. No.:	11-274099
Capital Investment / Paid-up Capital :	INR 0.127 Million
CIN No.: [Company Identification No.]	U72900MH2016PTC274099
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	27AAACQ4164A1ZT
TIN No.:	Not Divulged
PAN No.: [Permanent Account No.]	AAACQ4164A
Legal Form :	Private Limited Liability Company
Line of Business :	Retail Trade Services of Food Products. [Registered Activity] Developing, designing, testing, implementing, installing, commissioning, maintaining and operating a portal for online comparison and promotion of products and for enabling sale of products to the users of the portal by acquiring, processing, assembling, marketing, improving, preparing for the market. [As per memorandum of association]
No. of Employees :	Information denied by the management

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

Maximum Credit Limit :	USD 78400
Status :	Relatively new company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new private limited company established in March 2016. As per the available financials of March 2017, the company has achieved revenue of INR 2.540 million from its first year of its business operations and has incurred loss during the year. Rating takes into account, the company’s moderate financial risk profile marked by average net worth base. Rating further gets constrained by its presence in highly competitive FMCG industry. However, these rating weakness gets partially offset by its zero debt balance sheet profile and fair cash accruals. Payments 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 17.03.2018.

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 DENIED BY

Name :	Mr. Prasad
Designation :	Not Divulged
Contact No.:	91-9820086024
Date :	16.03.2018

LOCATIONS

Registered Office :	Flat No. 303, 3rd Floor, Plot-170E, Al Bahar CHSL, Swatantrya Veer Savarkar Marg, Kapad Bazar, Mahim (West), Mumbai – 400016, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-8879426842 (Mr. Rahul)
Fax No.:	Not Available
E-Mail :	rahul@qwikpik.in
Website :	www.qwikpik.in
Location :	Owned
Locality :	Residential
Branch Office :	4^th Floor, Ziffi Office, Krislon House, Opposite Marwah Industrial Estate, Saki Vihar Road, Andheri (East), Mumbai – 400071, Maharashtra, India

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Hitesh Ahuja

Designation :

Director

Address :

Flat No. 303, 3rd Floor, Plot-170E, Al Bahar CHSL, Swatantrya Veer Savarkar Marg, Kapad Bazar, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

16.11.1981

Date of Appointment :

09.03.2016

DIN No.:

05227831

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U55101MH2013PTC250080	FOODINDEX RESTAURANTS PRIVATE LIMITED	13/11/2013	-

Name :

Mr. Rahul Kumar

Designation :

Director

Address :

Hostel 6, Room No.3 IIT Bombay, Powai, Mumbai – 400076, Maharashtra, India

Date of Birth/Age :

15.03.1988

Date of Appointment :

30.12.2017

DIN No.:

06638657

Name :

Mrs. Rueben Amit Ghosh

Designation :

Director

Address :

501/3a, Shiv Bhagtani Manor, Near S M Shetty School, Off. Chandivali Road, Sakinaka, Mumbai – 400072, Maharashtra, India

Date of Appointment :

09.03.2016

DIN No.:

06490747

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74999MH2015PTC265111	GROCTECH SOLUTIONS PRIVATE LIMITED	01/06/2015	-

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders [Equity Shares]	No. of Shares
Reuben Ghosh	1249
Rahul Kumar	2070
Hitesh Ahuja	4883
Anirudh Mantri	298
Qwikpik ESOP Trust	1500
Binny Bansal	10
Sachin Bhatia	10
Smile Multimedia Private Limited, India	10
Calabasas Ventures Private Limited, India	10
Amupam Mittal	10
Rajnish Taneja	10
Darius Pandole	10
Dheeraj Jain	10
Orios ventures Private Limited, India	100
Total	10180

Names of Shareholders [Preference Shares]	No. of Shares
Binny Bansal	841
Sachin Bhatia	294
Smile Multimedia Private Limited, India	294
Calabasas Ventures Private Limited, India	90
Amupam Mittal	240
Rajnish Taneja	294
Darius Pandole	233
Dheeraj Jain	112
Orios ventures Private Limited, India	1579
Total	3977

AS ON 30.12.2017

Equity Share Break up	Percentage
Category
Promoters – [Individual/Hindu Undivided Family – Indian]	80.57
Public/Other than promoters - [Individual/Hindu Undivided Family – Indian]	3.52
Public/Other than promoters -[Venture capital]	0.98
Public/Other than promoters -[Bodies corporate]	0.20
Public/Other than promoters -[Others - Qwikpik ESOP Trust]	14.73
Total	100.00

BUSINESS DETAILS

Line of Business :

• Retail Trade Services of Food Products. [Registered Activity]

• Developing, designing, testing, implementing, installing, commissioning, maintaining and operating a portal for online comparison and promotion of products and for enabling sale of products to the users of the portal by acquiring, processing, assembling, marketing, improving, preparing for the market. [As per memorandum of association]

Products / Services :

ITC Code	Product/ Services Description
99622290	Food products n.e.c

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 :

Information denied by the management

Bankers :

Bank Name	Not Divulged
Branch	--
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Auditors :
Name :	S G C O and CO LLP Chartered Accountants
Address :	4A Kaledonia, HDIL, 2^nd Floor, Sahar Road Near Andheri Station, Andheri (East), Mumbai – 400069, Maharashtra, India
Tel. No.:	91-22-66256363
Fax No.:	91-22-66256364
E-Mail :	info@sgco.co.in
PAN No.:	AAAFS7106D
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

AS ON 31.12.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	INR 10/- each	INR 0.500 Million
50000	Preference Shares	INR 10/- each	INR 0.500 Million
	Total		INR 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10180	Equity Shares	INR 10/- each	INR 0.102 Million
3977	Preference Shares	INR 10/- each	INR 0.040 Million
	Total		INR 0.142 Million

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	INR 10/- each	INR 0.500 Million
50000	Preference Shares	INR 10/- each	INR 0.500 Million
	Total		INR 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10180	Equity Shares	INR 10/- each	INR 0.102 Million
	Less: Amount Recoverable from employee Welfare Trust		(INR 0.015 Million)
			INR 0.087 Million
3977	Preference Shares	INR 10/- each	INR 0.040 Million
	Total		INR 0.127 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.127
(b) Reserves & Surplus	27.311
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	27.438
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.150
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.150
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	5.437
(c) Other current liabilities	2.584
(d) Short-term provisions	0.000
Total Current Liabilities (4)	8.021
TOTAL	35.609
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.255
(ii) Intangible Assets	0.192
(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	2.796
(e) Other Non-current assets	0.000
Total Non-Current Assets	6.243
(2) Current assets
(a) Current investments	22.894
(b) Inventories	1.276
(c) Trade receivables	0.502
(d) Cash and cash equivalents	2.694
(e) Short-term loans and advances	2.000
(f) Other current assets	0.000
Total Current Assets	29.366
TOTAL	35.609

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	2.541
	Other Income	0.154
	TOTAL	2.695
Less	EXPENSES
	Purchases of Stock-in-Trade	3.871
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1.276)
	Employees benefits expense	11.834
	Other expenses	19.868
	TOTAL	34.297
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(31.602)
Less	FINANCIAL EXPENSES	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(31.602)
Less	DEPRECIATION/ AMORTISATION	0.145
	PROFIT/ (LOSS) BEFORE TAX	(31.747)
Less	TAX	0.150
	PROFIT/ (LOSS) AFTER TAX	(31.897)
	Earnings / (Loss) Per Share (INR)
	Basic	(4458.11)
	Diluted	(4458.11)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017
Current Maturities of Long term debt	NA
Cash generated from operations	NA
Net cash flow from (used in) operations	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days [Sundry Debtors / Income * 365]	72.11
Account Receivables Turnover [Income / Sunday Debtors]	5.06
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	512.66
Inventory Turnover (Operating Income / Inventories)	(24.77)
Asset Turnover (Operating Income / Net Fixed Assets)	(9.17)

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.23
Debt Equity Ratio (Total Liability / Networth)	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.29
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.13
Interest Coverage Ratio [PBIT / Financial Charges]	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
PAT to Sales ((PAT / Sales) * 100)	%	(1255.29)
Return on Total Assets ((PAT / Total Assets) * 100)	%	(89.58)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(116.25)

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	3.66
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	3.50
G-Score Ratio Financial (Networth / Total Assets)	0.77
G-Score Ratio Debt (Debts / Equity Capital)	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	3.66

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	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	No
21	Banking facility details	No
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 about one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last about 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	No
35	Negative Reporting by Auditors in the Annual Report	No

CORPORATE RESULTS:

The Company has commenced its operations and has achieved a net turnover of INR 2.541 Million. During the financial period the Company base incurred Net Loss of INR 31.897 Million. The Directors are confident about Companies future Operational Performance.

INDEX OF CHARGE: NO CHARGES EXISTS FOR COMPANY

FIXED ASSETS:

Tangible Assets

· Plant and Machinery

· Furniture and Fixture

· Computer and Accessories

· Electrical Installations

Intangible assets

· Mobile App

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 64.87
UK Pound	1	INR 90.49
Euro	1	INR 79.91

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	NSG
Report Prepared by :	GEET

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.