MIRA INFORM REPORT

Report No. :	497247
Report Date :	19.03.2018

IDENTIFICATION DETAILS

Name :	V R EQUIPMENT
Registered Office :	505, 5th Floor, Neelam Society, Building No. 18, Kandivali (West), Mumbai - 400067, Maharashtra
Mobile No.:	91-9004108983 [Mr. Ganesh Karan Ray]
Country :	India
Financials (as on) :	31.03.2017
Date of Establishment :	21.07.2016
Capital Investment :	INR 1.148 Million
IEC No.:	Not Applicable [As informed by the management that firm does not have export and import]
TIN No.:	762090867
GST No.:	27BERPR4784L1ZE/ 27BERPR4784L2ZD
PAN No.: [Permanent Account No.]	BERPR4784L
Legal Form :	Sole Proprietary Concern
Line of Business :	Service Provider of Broadcasting Equipment Hiring (Camera and Lens on Rent). [Confirmed by Management]
No. of Employees :	01 [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 :	Subject is relatively new proprietorship firm started in July 2016 and it is having moderate track records. It is a service provider of broadcasting equipment hiring such as camera and lens on rent basic. As per provided financials upto March 2017, the firm has earned modest revenue from its operations but reported fair income during the year. The rating takes into consideration small scale of business operation along with moderate capital base and low cash balances of the firm. However, rating weakness is partially offset by positive feedback received from its customer (Media work Equipment Pvt Ltd) and supplier (Keshav Sound) for good services provided as well as payment behavior. Also Banker (Bank of India) has also given positive feedback and satisfied with firm’s banking transaction. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The firm can be considered for business dealings with some caution. Note: Site visit was conducted at the address which you have provided. Our executive has successfully traced the firm on the given address. During the visit our executive met to Ms. Pushpa and she confirmed that firm is situated on given address. As per our executive observation, location of the firm is easy to find. Landmark was Trimurti real estate. It is 7 storey building and firm is situated on 5th floor. Locality appears to be residential. Area seems to be down-market. Name board of the firm was not sighted at the given address.

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 19.03.2018.

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. Gangesh Karan Ray
Designation :	Accounts Manager
Contact No.:	91-9004108983
Date :	16.03.2018

LOCATIONS

Registered Office :	505, 5th Floor, Neelam Society, Building No. 18, Kandivali (West), Mumbai - 400067, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9004108983/ 8960521357 [Mr. Ganesh Karan Ray]
Fax No.:	Not Available
E-Mail :	gkray20@gmail.com
Area :	595 Sq. Ft.
Locality :	Residential
Factory:	Office 7, Divya Smruti, New Link Road, Malad (West), Mumbai - 400064, Maharashtra, India

SOLE PROPRIETOR

Name :	Mr. Vishnu Ratan
Designation :	Proprietor
Address:	505, 5th Floor, Neelam Society, Building No. 18, Kandivali (West), Mumbai - 400067, Maharashtra, India
Date of Birth:	19.03.1984
Qualification:	HSC
Experience:	3 Years
Aadhar No.:	765984031946
PAN No.:	BERPR4784L

KEY EXECUTIVES

Name :	Mr. Gangesh Karan Ray
Designation :	Accounts Manager

BUSINESS DETAILS

Line of Business :	Service Provider of Broadcasting Equipment Hiring (Camera and Lens on Rent). [Confirmed by Management]
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cheque
Purchasing :	Cheque

GENERAL INFORMATION

Suppliers :

Reference:	Keshav Sound
Name of the Person (Designation):	Mr. Amrit Lal Gupta (Marketing Head)
Contact Number:	91-9819709506
Since how long known:	3 years
Maximum limit dealt:	No limit
Experience:	Payment Behaviour; Good Market Goodwill: Good Overall: Good
Remark	As claimed by Mr. Amrit Lal Gupta (Marketing Head ) that payment behaviour and market goodwill are good and overall performance also good.

Customers :

End Users

Reference:	Mediawork Equipment Private Limited
Name of the Person (Designation):	Mr. Ravi Shankar L Gupta [Director]
Contact Number:	91-9821005113
Since how long known:	3 years
Maximum limit dealt:	No limit
Experience:	Product Quality: Excellent Delivery Behaviour: Excellent Overall: Excellent
Remark	As claimed Mr. Ravi Shankar L Gupta [Director] that product quality and Delivery behaviour are excellent and overall performance also excellent

No. of Employees :

01 [Approximately]

Bankers :

Bank Name:	Bank of India
Branch:	Kandivli West, Mumbai, Maharashtra, India
Person Name (with Designation):	Mr. Keshav Kumar (A.G.M)
Contact Number:	91-22-28054794
Name of Account Holder:	V R EQUIPMENT
Account Number:	006220110001069
Account Since (Date/ Year of A/c Opening):	10.04.2017
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	Current Account
Remarks:	As claimed by Mr. Keshav Kumar (A.G.M) that they are satisfied with the subject company transaction

Auditors :	Not Appointed
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2017

Capital Investment :
Owned :	INR 1.148 Million
Borrowed :	--
Total :	INR 1.148 Million

FINANCIAL ANALYSIS

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
SHAREHOLDERS FUNDS
1] Capital Account		1.148
2] Reserves & Surplus		0.000
NETWORTH		1.148
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		6.500
TOTAL BORROWING		6.500
DEFERRED TAX LIABILITIES		0.000
TOTAL		7.648
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.676
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.900
	Sundry Debtors	0.000
	Cash & Bank Balances	0.071
	Other Current Assets	0.000
	Loans & Advances	0.001
Total Current Assets		5.972
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.000
Net Current Assets		5.972
MISCELLANEOUS EXPENSES		0.000
TOTAL		7.648

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017
	SALES
		Receipt	0.811
		Other Income	0.000
		TOTAL	0.811
Less	EXPENSES
		Accounting charges	0.015
		Att. Chg. Paid	0.163
		Conveyance charges	0.032
		Electricity charges	0.012
		Misc. exp.	0.015
		Tel and mob exp.	0.013
		Travelling exp.	0.016
		Other expenses	0.006
		TOTAL	0.272
	PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		0.539
Less	FINANCIAL EXPENSES		0.001
	PROFIT BEFORE DEPRECIATION AND AMORTISATION		0.538
Less/ Add	DEPRECIATION/ AMORTISATION		0.109
	NET PROFIT		0.429

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	0.00
Account Receivables Turnover (Income / Sundry Debtors)	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00
Inventory Turnover (Operating Income / Inventories)	0.09
Asset Turnover (Operating Income / Net Fixed Assets)	0.32

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.85
Debt Equity Ratio (Total Liability / Networth)	5.66
Current Liabilities to Networth (Current Liabilities / Net Worth)	5.66
Fixed Assets to Networth (Net Fixed Assets / Networth)	1.46
Interest Coverage Ratio (PBIT / Financial Charges)	539.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	52.90
Return on Total Assets ((PAT / Total Assets) * 100)	%	5.61
Return on Investment (ROI) ((PAT / Networth) * 100)	%	37.37

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	0.92
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.01
G-Score Ratio Financial (Networth / Total Assets)	0.15
G-Score Ratio Debt (Debts / Equity Capital)	5.66
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.92

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	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	Yes
22	Conduct of the banking account	Yes
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	Yes
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 :	V R EQUIPMENT
Address :	505, 5th Floor, Neelam Society, Building No. 18, Khandivali (West), Mumbai - 400067, Maharashtra, India
Contact No.:	91-9892595148
Date of Visit :	12.03.2018
Person to whom we met:	Ms. Pushpa
Name Board :	Not Sighted
Location:	Easy
Landmark (If Any):	Trimurti Real Estate
Total Floors of the Building :	07 Floors
Subject situated on:	5th Floor
Locality:	Residential
Area :	Down-market
Visibility of Items:	· Telephone · Computers · Air Conditioner · Office Equipment
Proof of visit:	Photos

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF TOTAL INCOME

MR. VISHNU RATAN

(INR IN MILLION)

Particulars	31.03.2017
Profits and gains from business and profession			0.429
Profit before tax as per profit and loss account		0.429
Add : Depreciation Disallowed		0.109
		-----------
		0.538
Less : Allowed Depreciation		(0.109)
		-----------
		0.429
Income from other sources			0.007
Saving bank interest		0.007
		-----------
Total		0.007
			-----------
Gross Total Income			0.436
Less deductions under chapter-Via
80C Deduction		0.065
80TTA Interest on deposits in savings account		0.007
		-----------
Total Deductions			0.072
			-----------
Total Income			0.364
			-----------
Total Income Rounded Off U/S 288A			0.364
COMPUTATION OF TAX ON TOTAL INCOME
Tax on INR 0.250	NIL
Tax on INR 0.114 (0.364-0.250) @ 10%	0.011
Tax on INR 0.364		0.011
		-----------
		0.011
Less : Rebate U/S 87A		0.005
		-----------
		0.006
Add: Education cess @ 2%		0.000
		-----------
		0.006
Add: Secondary and Higher Education Cess @ 1%		0.001
		-----------
		0.007
less Tax Deducted at Source
contractors and Sub-Contractors	0.001	0.001
		-----------
		0.006
Add Interest Payable
Interest U/S 234A	0.000
	-----------	0.000
		-----------
		0.006
Tax Rounded Off U/S 288B		0.006
Less Self Assessment Tax U/S 140A
Canara Bank, Jayanagar 9th Block - 0242465 - 01958 - 12-02-2018	0.006
	-----------	0.006
		-----------
Tax Payable		NIL
DETAIL OF DEDUCTION U/S 80C
LIC, etc.	0.065
TOTAL	0.065

------------------------------------------------------------------------------------------------------------------------------

COST OF PROJECT AND MEANS OF FINANCE

(INR IN MILLION)

Particulars	Amount
Promoters	7.535
Contribution
Term Loan	25.000
	------------
Total	32.582

------------------------------------------------------------------------------------------------------------------------------

CALCULATION OF D.S.C.R

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	2018-2019 (Projected)	2019-2020 (Projected)	2020-2021 (Projected)	2021-2022 (Projected)	2022-2023 (Projected)
Net Profit after Tax	3.408	4.573	4.669	4.656	4.748
Interest	2.869	2.561	2.214	1.823	1.382
Depreciation	4.500	4.600	4.600	4.600	4.600
Net Profit (Before Tax ) before Interest & Depreciation	10.777	11.734	11.483	11.079	10.730
Repayment Obligation	--	--	--	--	--
Loan	2.429	2.737	3.084	3.475	3.916
Interest	2.869	2.561	2.214	1.823	1.382
Total	5.298	5.298	5.298	5.298	5.298
DSCR	2.03	2.21	2.17	2.09	2.03

------------------------------------------------------------------------------------------------------------------------------

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	2017-2018 (Estimated)	2018-2019 (Projected)	2019-2020 (Projected)	2020-2021 (Projected)	2021-2022 (Projected)
Gross Income
l) Hire /Rent charges etc.	0.850	18.480	20.790	20.790	20.790
ii) other reimbursement	0.000	0.000	0.000	0.000	0.000
TOTAL	0.850	18.480	20.790	20.790	20.790
Less : Excise/service tax	0.000	0.000	0.000	0.000	0.000
Net Sales	0.850	18.480	20.790	20.790	20.790
% age rise in net sales as compared to prev. year	9.68	2074.12	12.50	0.00	0.00
Cost of Sales:
i) Raw-materials (including stores and other items used in the process of manufacture)
(a) imported	0.000	0.000	0.000	0.000	0.000
(b) Technical Services	0.000	3.696	4.158	4.158	4.158
ii) Other spares
(a) imported	0.000	0.000	0.000	0.000	0.000
(b) indigenous	0.000	0.000	0.000	0.000	0.000
iii) Power and fuel	0.010	0.100	0.110	0.120	0.130
iv) Manpower cost	0.100	1.000	1.200	1.300	1.500
v) Other operating cost	0.030	0.800	0.900	1.000	1.200
vi) Depreciation	0.014	4.500	4.600	4.600	4.600
vii) Sub-total	0.154	10.096	10.968	11.178	11.588
ix) Add: Opening stocks in process	0.000	0.000	0.000	0.000	0.000
Sub-Total	0.154	10.096	10.968	11.178	11.588
x) Deduct: Closing stocks in process	0.000	0.000	0.000	0.000	0.000
xi) Sub-Total	0.154	10.096	10.968	11.178	11.588
xii) Add: Opening stocks of finished goods	0.000	0.000	0.000	0.000	0.000
Sub-Total	0.154	10.096	10.968	11.178	11.588
xiii) Deduct: Closing stocks of finished goods	0.000	0.000	0.000	0.000	0.000
xiv) Sub-Total (Total cost of sales	0.154	10.096	10.968	11.178	11.588
Selling, general and administrative expenses	0.065	0.647	0.728	0.728	0.728
SUB-TOTAL	0.219	10.743	11.696	11.906	12.316
Operating Profit Before Interest	0.631	7.737	9.094	8.884	8.474
Interest	0.004	2.869	2.561	2.214	1.823
Interest (8-9)	0.627	4.868	6.533	6.670	6.651
Other income/expenses	0.000	0.000	0.000	0.000	0.000
Sub-Total (+/-)	0.000	0.000	0.000	0.000	0.000
Profit before tax/(Loss)	0.627	4.868	6.533	6.670	6.651
Provision for taxes	0.000	1.460	1.960	2.001	1.995
Net Profit/loss	0.627	3.408	4.573	4.669	4.656
(a) Withdrawals	0.000	0.000	0.000	0.000	0.000
Retained Profit	0.627	3.408	4.573	4.669	4.656
Retaind Profit/Net Profit	100.00	100.00	100.00	100.00	100.00

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	2017-2018 (Estimated)	2018-2019 (Projected)	2019-2020 (Projected)	2020-2021 (Projected)	2021-2022 (Projected)
CURRENT LIABILITIES
Short term borrowings from banks(including bills parched and discounted and the excess borrowings
placed on repayment basis)
(i) From applicant bank	0.000	0.000	0.000	0.000	0.000
(ii) From other banks	0.000	0.000	0.000	0.000	0.000
(iii)(of which BP & BD)	0.000	0.000	0.000	0.000	0.000
Sub-Total (A)	0.000	0.000	0.000	0.000	0.000
Short-term borrowings from others	0.000	0.000	0.000	0.000	0.000
Sundry Creditors(Trade)	0.008	0.000	0.000	0.000	0.000
Advance/progress payments	0.000	0.000	0.000	0.000	0.000
from customers/deposits from dealers
Provision for taxation	0.000	14.60	19.60	20.01	19.95
Dividend & Corp.Div. Tax payable	0.000	0.000	0.000	0.000	0.000
Other statutory liabilities (due within one year)	0.000	0.000	0.000	0.000	0.000
Instalments of term loans/ defferred payments debentures/redeemable preference shares due within one year)	0.000	2.737	3.084	3.475	3.916
Other current liabilities and provisions(due within one year) (major items to be specified individually	0.000	0.000	0.000	0.000	0.000
Expenses	0.000	0.000	0.000	0.000	0.000
Sub-Total (B)	0.008	.4197	5.044	5.476	5.911
Total Current liabilities	0.008	.4197	5.044	5.476	5.911
TERM LIABILITIES
Debentures (not maturing within one year)	0.000	0.000	0.000	0.000	0.000
Redeemable pref. shares (not maturing within one year, but of maturity not exceeding 12 years)	0.000	0.000	0.000	0.000	0.000
Term loans (exclusive of instalments payable within one year)	0.000	19.834	16.750	13.275	9.359
Term Deposits (repayable after one year)	0.000	5.817	0.000	0.000	0.000
Other term liabilities etc. DEF TAX	0.000	0.000	0.000	0.000	0.000
Total Term Liabilities	0.000	25.651	16.750	13.275	9.359
Total outside Liabilities	0.008	29.848	21.794	18.751	15.270
(item 10 plus item 17)
NET WORTH
Share Capital+	0.173	0.173	0.173	0.173	0.173
General Reserve	0.000	0.000	0.000	0.000	0.000
Unsecured loans from Relatives etc.	0.000	8.000	8.000	8.000	8.000
Other reserves (excluding provisions)	0.000	0.000	0.000	0.000	0.000
Surplus(+) or deficit(-)in Profit & Loss Account	1.967	5.375	9.948	14.617	19.273
Others (specify)	0.000	0.000	0.000	0.000	0.000
NET WORTH	2.140	13.548	18.121	22.790	27.446
TOTAL LIABILITIES	2.148	43.396	39.915	41.541	42.717
Cash and Bank balance	0.033	0.346	0.265	0.350	0.631
Investments (other than long term investments)
(i) ICD/FD	0.000	0.000	0.000	0.000	0.000
(ii) Term deposits ag. FD	0.000	0.000	0.000	0.000	0.000
(i) Receivables other than deferred and export receibvables (including bills purchased and discounted by bankers)	0.250	5.500	6.000	6.500	7.000
(ii) Export receivables (including bills purchased and discounted by bankers)	0.000	0.000	0.000	0.000	0.000
Instalments of deferred receivables (due within one year)	0.000	0.000	0.000	0.000	0.000
Inventory :
(i) Raw materials (including stores & other items used in process of manufac.)
(a) Imported	0.000	0.000	0.000	0.000	0.000
(b) Indigenous	0.000	0.000	0.000	0.000	0.000
(including packing material Packing material)
(ii) Stocks-in-process	0.000	0.000	0.000	0.000	0.000
(iii) Finished goods	0.000	0.000	0.000	0.000	0.000
(iv) Other consumables
a)Imported
b) Indegenous	0.000	2.500	2.500	3.500	4.000
Advances to suppliers	0.475	0.700	0.900	1.000	1.000
Advance payment of taxes	0.000	1.460	1.960	2.001	1.995
Other current assets	0000	1.500	1.500	2.000	2.500
DEPOSIT	0.000	0.000	0.000	0.000	0.000
TOTAL CURRENT ASSETS	0.758	12.006	13.125	15.351	17.126
FIXED ASSETS
Gross block (land and (building, machinery, constr. in progress etc.)construction-in-progress, etc.)	0.865	34.450	34.450	34.450	34.450
Depreciation to Date	0.060	4.560	9.160	13.760	18.360
Net block	0.805	29.890	25.290	20.690	16.090
OTHER NON-CURRENT ASSETS
Investments/Book debts/advances /deposits which are not current assets
(i) (a) Investments in subsidiary companies/affiliates	0.000	0.000	0.000	0.000	0.000
(b) Other Deposits	0.000	0.000	0.000	0.000	0.000
(c) Others	0.000	0.000	0.000	0.000	0.000
(ii) Advances to suppliers of capital goods/ spares and contractors for capital expenditure	0.585	0.000	0.000	0.000	0.000
(iii) Upgradation Reserves (other than those maturing within one year)	0.000	1.500	1.500	5.500	9.500
Non-consumable stores and spares
Other miscellaneous assets including dues from directors from directors	0.000	0.000	0.000	0.000	0.000
TOTAL OTHER NON-CUR ASSETS	0.585	1.500	1.500	5.500	9.500
Intangible Assets (Patents. Goodwill, Preliminary & formation expenses, bad & doubtful debts not provided for, etc.)	0.000	0.000	0.000	0.000	0.000
TOTAL ASSETS	2.148	43.396	39.915	41.541	42.716
TANGIBLE NETWORTH	2.140	13.548	18.121	22.790	27.446
NET WORKING CAPITAL	0.750	7.809	8.081	9.875	11.215
Current Ratio	9.475	0.286	0.260	0.280	0.290
Total Outside Liabilities/ Tangible Net Worth	0.000	0.220	0.120	0.082	0.056
Total Term Liabilities/ Tangible Net Worth	0.000	0.189	0.092	0.058	0.034
Net Sales / Total Tangible Assets	0.040	0.043	0.052	0.050	0.049
Return on Assets (PBT/Total Tangible Assets)	0.029	0.011	0.016	0.016	0.016
Operating Costs/Sales	0.024	0.014	0.014	0.015	0.017
Bank Finance /Current Assets	0.000	0.000	0.000	0.000	0.000
Inventory & Receivables / Sales	0.029	0.043	0.041	0.048	0.053
IRR	0.627	4.868	6.533	6.670	6.651
WORKING
TOTAL LIABILITIES	2.148	43.396	39.915	41.541	42.717
TOTAL ASSETS	2.148	43.396	39.915	41.541	42.717

------------------------------------------------------------------------------------------------------------------------------

FUND FLOW STATEMENT

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	2017-2018 (Estimated)	2018-2019 (Projected)	2019-2020 (Projected)	2020-2021 (Projected)	2021-2022 (Projected)
SOURCES
Profit before tax	0.627	4.868	6.533	6.669	6.651
(item 10 part A of Form II)
Add : Depreciation	0.014	4.500	.4600	4.600	4.600
(item 4 (vii) of part of Form II)
Gross funds generated	0.641	9.368	11.133	11.269	11.251
Less : taxes paid/payable (relating to the year)	0.000	1.460	1.960	2.001	1.995
Less : Withdrawals (relating to the year)	0.000	0.000	0.000	0.000	0.000
A. Sub-Total - Net funds generated	0.641	7.908	9.173	9.268	9.256
`
Increase in capital	0.000	0.000	0.000	0.000	0.000
Increase in Quasi capital	0.000	8.000	0.000	0.000	0.000
Decrease in Fixed Assets	0.000	0.000	0.000	0.000	0.000
Decrease in Tangible Assets	0.000	0.000	0.000	0.000	0.000
Increase in term loans/Debentures	0.000	25.000	0.000	0.000	0.000
Increase in Public Deposits/Defered Tax	0.000	5.817	0.000	0.000	0.000
B. Sub-Total	0.000	388.17	0.000	0.000	0.000
Increase in short term bank borrowings (including bills purchased and discounted by bankers)	0.000	0.000	0.000	0.000	0.000
Increase in current liabilities cap.crs.	0.000	1.452	0.500	0.041	0.000
Increase in other current liabilities	0.000	0.000	0.000	0.000	0.000
Decrease in Inventory	0.000	0.000	0.000	0.000	0.000
Decrease in receivables (including bills purchased and discounted by bankers)	0.000	0.000	0.000	0.000	0.000
Decrease in other current assets (including cash and bank balances)	1.94	0.000	0.000	0.000	0.000
Decrease in other non Current Assets	0.000	0.000	0.000	0.000	0.000
C. Sub-Total	0.194	1.452	0.500	0.041	0.000
Total funds available (A + B + C)	0.835	48.177	9.673	9.309	9.256
USES
Increase in fixed assets	0.000	33.585	0.000	0.000	0.000
Decrease in term loan/Debentures	0.000	2.429	2.737	3.084	3.475
Decrease in public deposits	0.000	0.000	5.817	0.000	0.000
Increase in Intangible Assets etc. (share issue expenses)	0.000	0.000	0.000	0.000	0.000
Increase in other non-current assets	0.585	0.915	0.000	4.000	4.000
D. Sub-Total	0.585	36.929	8.554	7084	7.475
Decrease in short term bank borrowings (including bills purchased and discounted by bankers)	0.000	0.000	0.000	0.000	0.000
Decrease in current liabilities	0.000	0.000	0.000	0.000	0.006
Decrease in other Current Liabilities	0.000	0.000	0.000	0.000	0.000
Increase in Inventory	0.000	2.500	0.000	1.000	0.500
Increase in receivables (including bills purchased and discounted by bankers)	0.250	5.250	0.500	0.500	0.500
Increase in other current assets (including cash and bank balances)	0.000	3.498	619	0.725	0.775
E. Sub-Total	0.250	11.248	1119	2.225	1.781
SUMMARY
Long term sources (A + B)	0.641	46.725	9.173	9.268	9.256
Long term uses ( D )	0.585	36.929	8.554	7.084	7.475
Surplus[+]/Short fall(-)	0.056	9.796	0.619	2.184	1.781
Short term sources ( C )	0.194	1.452	0.500	0.041	0.000
Less short term uses (E)	0.250	11.248	1.119	2225	1781
Surplus [+] / Short fall [-]	(0.056)	(9.796)	(0.619)	(2.184)	(1.781)

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COMPARATIVE STATEMENT OF CURRENT ASSETS

AND CURRENT LIABILITIES

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	2017-2018 (Estimated)	2018-2019 (Projected)	2019-2020 (Projected)	2020-2021 (Projected)	2021-2022 (Projected)
CURRENT ASSETS
Raw materials (including stores & other items used in the process of manufacture)
(a) Imported	0.000	0.000	0.000	0.000	0.000
(months' consumption)	0.00	0.00	0.00	0.00	0.00
(b) Indigenous	0.000	0.000	0.000	0.000	0.000
(months' consumption)	0.00	0.00	0.00	0.00	0.00
Other consumable spares excluding those included under item	0.000	2.500	2.500	3.500	4.000
(% of total inventory and months' consumption)	0.00%	100.00%	100.00%	100.00%	100.00%
Stocks-in-process	0.000	0.000	0.000	0.000	0.000
(months' cost of product ion)	0.00	0.00	0.00	0.00	0.00
Finished Goods	0.000	0.000	0.000	0.000	0.000
(months' cost of sales)	0.00	0.00	0.00	0.00	0.00
Receivables other than export and deferred receivables (including bills purchased and discounted by bankers)	0.250	5.500	6.000	6.500	7.000
(months' domestic sales excluding deferred payment sales)	3.53	3.57	3.46	3.75	4.04
Export receivables (including bills purchased and discounted by bankers)	0.000	0.000	0.000	0.000	0.000
(months' export sales)	0.000	0.000	0.000	0.000	0.000
Advances to suppliers of raw materials etc.	0.475	0.700	0.900	1.000	1.000
Other current assets including cash and bank balances and deferred receivables due within year (major items to be specified individually)	0.033	1.806	2.225	2.351	2.626
Total Current Assets	0.758	10.506	11.625	13.351	14.626
CURRENT LIABILITIES
Creditors for purchases of raw materials & stores and consumable spares	0.008	0.000	0.000	0.000	0.000
(months' purchases)	0.096	0.000	0.000	0.000	0.000
Advances from customers	0.000	0.000	0.000	0.000	0.000
Accrued expenses	0.000	0.000	0.000	0.000	0.000
Statutory Liabilities	0.000	0.000	0.000	0.000	0.000
Other current liabilities (major items to be specified individually)	0.000	1.460	1.960	2.001	1.995
Sub-Total	0.008	1.460	1.960	2.001	1.995
Working capital gap	0.750	9.046	9.665	11.350	12.631
Actual/projected bank borrowings for working capital including bills purchased and discounted and excess borrowings placed on repayment basis (to agree with sub-total	0.000	0.000	0.000	0.000	0.000
Total current liabilities	0.008	1.460	1.960	2.001	1.995
Net working capital	0.750	9.046	9.665	11.350	12.631

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COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	2017-2018 (Estimated)	2018-2019 (Projected)	2019-2020 (Projected)	2020-2021 (Projected)	2021-2022 (Projected)
Working Capital Gap	0.750	9.046	9.665	11.350	12.631
Minimum stipulated net working capital (25% of item 1)	0.188	2.262	2.416	2.838	3.158
Actual/projected net working capital (item VI of Part B)	0.750	9.046	9.665	11.350	12.631
Item 1 minus item 2 in net working capital) to	0.563	6.785	7.249	8.513	9.473
Item 1 minus item 3 capital term loan (item 2)	0.000	0.000	0.000	0.000	0.000
Maximum permissible bank finance (item 4 or item 5 whichever is lower) (See Note XV)	0.000	0.000	0.000	0.000	0.000
Excess borrowings (representing shortfall in net into working 'capital term loan (item 2 minus item 3) current assets i.e. item	0.000	0.000	0.000	0.000	0.000
Working capital gap (Item III of Part B)	0.750	9.046	9.665	11.350	12.631
Minimum stipulated working capital (25% of total current assets i.e. item I of Part B (Excl. Export Receivables)	0.190	3.002	3.281	3.838	4.282
Actual/projected net working capital (item VI of Part B)	0.750	9.046	9.665	11.350	12.631
Item 8 minus Item 9	0.561	6.044	6.384	7.512	8.349
Item 8 minus Item 10	0.000	0.000	0.000	0.000	0.000
12 whichever is lower)	0.000	0.000	0.000	0.000	0.000
Excess borrowings (representing shortfall in net working capital) (item 9 minus item 10)	0.000	0.000	0.000	0.000	0.000

------------------------------------------------------------------------------------------------------------------------------

NETWORTH STATEMENT

MR. VISHNU RATAN

(INR IN MILLION)

Particulars	31.03.2017
Movable Assets	1.675
Equipment’s		1.675
Other Assets
Loans & Advances	5.900
Cash In hand	0.054
Bank Accounts	0.018
	--------------	5.972
		--------------
Total Assets		7.647
Less: Liabilities
Unsecured Loans	6.500
		6.500
		--------------
Total Liabilities		6.500
		--------------
Net Total		1.147

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COMPANY PROFILE

INTRODUCTION

The company is an proprietorship concern of Mr. Vishnu Ratan, which was formed with object to provide on lease / hire all types of media production equipment’s like SD / HD cameras, etc., for shooting, post production processing facility like editing, sound recording, dubbing, and in house facilities for television software, ad films and to provide technical assistance, and all allied service in the field of cine production.

The promoter is in this line of business since the year 2012 when he started his career by working as an employee of Media work Equipment Pvt. Ltd. Under his employment he gained in depth knowledge of leasing & Hiring of Broadcasting Equipment’s. He also had an opportunity of developing good contacts with production houses who require broadcasting equipment’s.

In the year 2016, Shri Vishnu Ratan started his own business from his own funds of leasing & hiring of Cameras and Lenses on a very small scale. Today he has proved himself for successfully running his business for past 2 years.

ABOUT PRODUCTION & MEDIA INDUSTRY

Most of TV Production houses always prefer to concentrate on their core activities and outsource the equipment’s for their shootings instead of purchasing their own cameras which will be high investment for their own. The producers will be also flexible in their choice while outsourcing of the services which is normally depended upon their event or producing budget. In Mumbai, their Firm has developed goodwill in providing of all these services under one umbrella. The same has accredited and applauded by the renowned channel partners and productions houses. Our affluent treatment to all our customers always built-up a confident and stability in their activities. Thus our brosd and renowned clienteles and exploring new opportunities in similar activities are their major strengths.

Market for Indian Entertainment and Media industry front

The Indian Entertainment and Media industry is projected to grow by 11 percent compounded annually over the next decade, well above the global average growth of 2.7 percent compounded annually. Excerpts from a report published by Price water house coopers.

Digitalization Initiatives: The CAS (Conditional Access System) rollout is underway in the metros. In the quarter ending December 31,2014, the STB (Set Top Box) number is 767616 in the CAS notified areas of Delhi, Mumbai,

Kolkata, and Chennai. 19exclusive music video channel on mobile TV. Rediff.com has gone live with its third-party applications on its video and music platform.

Entertainment and media: The contradictions within leading consumers

· Over 1,000 movies released annually (largest in the world)

· 3.2 billion movie ticket sold annually (largest in the world)

· 80 million pay-TV homes (third largest in the world)

· 119 million television households

· 450 television channels

· Over 300 million mobile subscribers (second largest in the world)

· Over 350 radio stations

· 6,000 newspapers published, including the worlds largest circulated daily

· 10,000 music tracks released annually

India is among the largest media consuming and content creating industries. Despite this exciting profile of the Indian E&M industry, it constitutes only around 1 percent of the global industry. Deposit these constraints, India E&M industry is expected to consolidate its position in the global E&M space

------------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT

(GENERAL DETAILS)

Date of Valuation	22.01.2018
Name of the Owner	MR. SANJEEV ANIL SHARMA AND MRS. KAJAL SANJEEV SHARMA
Location of the property	Flat No. 102, 1^st Floor, Suraj Ashiana CHSL, 10th Road, Khar (West), Mumbai - 400052, Maharashtra, India

Fair Market Value of the property	INR 55.026 Million
Realizable Value of the property	INR 49.523 Million
Distress sale value of the property	INR 44.021 Million
Government Value of the property	INR 31.221 Million
Insurance Value of the property	INR 2.123 Million

------------------------------------------------------------------------------------------------------------------------------

FIXED ASSETS

· Camera Equipment’s

· Furniture

------------------------------------------------------------------------------------------------------------------------------

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 :	SHK
Analysis Done by :	PRS
Report Prepared by :	ARC

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.