MIRA INFORM REPORT

Report No. :	497536
Report Date :	20.03.2018

IDENTIFICATION DETAILS

Name :	TELSO NETWORKS
Registered Office :	G-03, Ground Floor Regal Residency, Plot No. 141-142, Nirman Nagar [East], Ajmer Road, Jaipur-302019, Rajasthan
Mobile No.:	91-9660012482 [Ms. Sapna Jain]
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	2013
Capital Investment :	INR 1.504 Million
IEC No.:	Not Divulged
GST No.:	08AFIPJ7424C1ZM
TIN No.:	08254056664
PAN No.: [Permanent Account No.]	AFIPJ7424C
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader of Networking Solutions, IT peripherals, Communication Solutions, Electronic Safety and Security Systems, etc. [From Indirect Sources]
No. of Employees :	Not Divulged

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 4200 [INR 273843.78]
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Management has denied providing any information about the subject to us. As per the information gathered from indirect sources, subject is a proprietary concern established in the year 2013 and is a trader of networking solutions, IT peripherals, communication solutions, etc. For the financial year ended 2017, the concern has achieved a decent sales turnover of INR 13 million and has gained fair net profit margin of 6.97%. The concern possesses satisfactory financial position marked by sufficient capital base. The subject’s clients include, Hindware, Vodafone, L&T, Schindler, Sojitz, Financiers, etc. The concern has alliances with Cisco, Dlink, AMP, Netrack, Polycom, Grandstream, Plantronics, Hp, Suvira, Ubiquity, Hitachi, Sony, etc. Payment seems to be usually correct. In view of aforesaid, the concern can be considered for business dealings at usual trade terms and condition. Note: Site visit was conducted at the address which you have provided and our executive has successfully traced the subject on the given address. At the premises our executive met on of the executive and he claimed that the subject is situated on the given address but he did not allow our executive to enter the premises. During the site visit our executive inquired with the neighbour companies Gharh Car Bazar and Stonex and they both confirmed the subject’s existence on the given address. As per our executive’s observation, it is a shed type premises. Location was easy to find. Locality appears to be commercial. Area seems to be neutral. Name board of the subject 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 20.03.2018.

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 DECLINED BY

Name :	Ms. Sapna Jain
Designation :	Manager
Contact No.:	91-9660012482
Date :	20.03.2018

MANAGEMENT NON-COOPERATIVE

[Contact No: 91-7727935910]

LOCATIONS

Registered Office :	G-03, Ground Floor Regal Residency, Plot No. 141-142, Nirman Nagar [East], Ajmer Road, Jaipur-302019, Rajasthan, India
Tel. No.:	Not Available
Mobile No.:	91-9660012482 [Ms. Sapna Jain] 91-7727935910 [Office]
Fax No.:	Not Available
E-Mail :	info@telsonetworks.com
Website :	http://telsonetworks.com
Locality :	Commercial [As per site visit]

SOLE PROPRIETOR

Name :	Mr. Shashi Jain
Designation :	Proprietor
Date of Birth/Age :	22.07.1959
PAN No.:	AFIPJ7424C

KEY EXECUTIVES

Name :	Ms. Sapna Jain
Designation :	Manager

BUSINESS DETAILS

Line of Business :	Trader of Networking Solutions, IT peripherals, Communication Solutions, Electronic Safety and Security Systems, etc. [From Indirect Sources]
Products/ Services :	· Networking Solutions · IT peripherals · Communication Solutions, etc
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

GENERAL INFORMATION

Suppliers :

· Zen Exim Private Limited

· Bits and Bytes Compusoft Private Limited

· Gupta Traders

· Prime Infotech

· VJ Ifonet Private Limited

· Compuage Infocom Limited

Customers :

· Hindware

· Data Infosys Limited

· Larsen and Toubro

· Sojitz

· Vodafone

· Schindler, etc

No. of Employees :

Not Divulged

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 :	Vanj and Assocaites Chartered Accountants
Membership No :	425003
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

CAPITAL ACCOUNT AS ON 31.03.2017

PARTICULARS	INR IN MILLION	PARTICULARS	INR IN MILLION
Drawings	0.724	Balance B/F	1.266
		Net Profit	0.952
Balance C/F	1.504	Capital Account	0.010
	-----------		-----------
TOTAL	2.228		2.228

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		1.504
2] Reserves & Surplus		0.000
NETWORTH		1.504
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.504
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.027
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.010
	Sundry Debtors	1.413
	Cash & Bank Balances	1.083
	Other Current Assets	1.458
	Loans & Advances	0.207
Total Current Assets		4.171
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.460
	Other Current Liabilities	2.234
	Provisions	0.000
Total Current Liabilities		2.694
Net Current Assets		1.477
MISCELLANEOUS EXPENSES		0.000
TOTAL		1.504

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017
	SALES
		Revenue from Operations	13.655
		Other Income	0.231
		TOTAL	13.886
Less	EXPENSES
		Cost of Goods Sold	11.218
		Direct Expenses	0.078
		Acc Keeping Fee	0.001
		Business Promotion Expenses	0.042
		Consultancy Fees	0.026
		Conveyance expenses	0.036
		Electricity exp	0.028
		Job work expenses	0.542
		Office expenses	0.014
		Printing and stationery	0.014
		Salary	0.919
		Telephone exp	0.011
		TOTAL	12.929
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.957
Less	FINANCIAL EXPENSES		0.002
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.955
Less/ Add	DEPRECIATION/ AMORTISATION		0.003
	NET PROFIT/ LOSS		0.952

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	37.77
Account Receivables Turnover (Income / Sundry Debtors)	9.66
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	14.97
Inventory Turnover (Operating Income / Inventories)	95.70
Asset Turnover (Operating Income / Net Fixed Assets)	35.44

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.64
Debt Equity Ratio (Total Liability / Networth)	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.79
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.02
Interest Coverage Ratio (PBIT / Financial Charges)	478.50

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	6.97
Return on Total Assets ((PAT / Total Assets) * 100)	%	22.68
Return on Investment (ROI) ((PAT / Networth) * 100)	%	63.30

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.55
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.54
G-Score Ratio Financial (Networth / Total Assets)	0.36
G-Score Ratio Debt (Debts / Equity Capital)	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.55

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	No
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
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 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	No
35	Negative Reporting by Auditors in the Annual Report	No

OBSERVATION POINTS

Name of Company :	TELSO NETWORKS
Address :	G-03, Ground Floor Regal Residency, Plot No. 141-142, Nirman Nagar [East], Ajmer Road, Jaipur-302019, Rajasthan, India
Contact No.:	91-7727935410
Date of Visit :	19.03.2018
Person to whom we met:	Staff [Name Not Divulged]
Name Board :	Not Sighted
Location:	Easy
Landmark (If Any):	Near Hotel Apple
Total Floors of the Building :	Shed Type Premises
Subject situated on:	Shed Type Premises
Locality:	Commercial
Area :	Neutral
Neighbours Interview :	During the site visit our executive inquired with the neighbour companies Gharh Car Bazar and Stonex and they both confirmed the subject’s existence 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 65.04
UK Pound	1	INR 90.56
Euro	1	INR 79.78

INFORMATION DETAILS

Information Gathered by :	SAV
Analysis Done by :	NIY
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.