MIRA INFORM REPORT

Report No. :	499681
Report Date :	24.03.2018

IDENTIFICATION DETAILS

Name :	SWASTIK ENGINEERS
Registered Office :	353, Village Badi, Girwa, Udaipur-313006, Rajasthan
Mobile No.:	91-7727007551 (Mr. Vinod Kumar Suthar)
Country :	India
Financials (as on) :	31.03.2015 (Detail Financial) 31.03.2017 (Turnover)
Year of Establishment:	2008
Capital Investment / Paid-up Capital :	INR 3.525 Million (As on 31.03.2015)
TIN No.:	08763960693
IEC No.:	Not Applicable (As informed by the management that firm does not have export and import)
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	BYYPS8015A
GSTN : [Goods & Service Tax Registration No.]	08BYYPS8015A1Z0
Legal Form :	Sole Proprietary Concern
Line of Business :	Subject is engaged into construction business, developed resort, hotels, commercial and residential. (Confirmed by management)
No. of Employees :	17 (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 :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is proprietary concern established in the year 2008. It is engaged in construction work of building house, resort hotels and commercial and residential. Mr. Vinod Kumar Suthar, (Proprietor) has claimed that the concern has achieved sales turnover of INR 20.000 million for the financial year 2016 and 2017. Payments seems to be slow but correct. In view of aforesaid, the concern can be considered for business dealings at usual trade terms and conditions.

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

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 24.03.2018

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. Vinod Kumar Suthar
Designation :	Proprietor
Contact No.:	91-7727007551
Date :	23.03.2018

LOCATIONS

Registered Office :	353, Village Badi, Girwa, Udaipur-313006, Rajasthan, India
Tel. No.:	Not Available
Mobile No.:	91-7727007551 (Mr. Vinod Kumar Suthar)
Fax No.:	Not Available
E-Mail :	swastikeng09@gmail.com
Area:	5000 Sq. Ft.
Location:	Owned
Locality:	Residential
Branch Office:	Archi Arihant Building, Shobhagpura Circle, Udaipur – 313006, Rajasthan, India
Area:	400 Sq. Ft.
Location:	Rented

SOLE PROPRIETOR

Name :	Mr. Vinod Kumar Suthar
Designation :	Proprietor
Address :	Udaipur-313006, Rajasthan, India
Date of Birth/Age:	07.08.1985
Qualification:	Civil Engineering
Experience:	10 Years

BUSINESS DETAILS

Line of Business :	Subject is engaged into construction business, developed resort, hotels, commercial and residential. (Confirmed by management)
Products/Services:	Construction work
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	L/C, Cash, Advance Payment, Cheque and Credit
Purchasing :	L/C, Cash, Advance Payment, Cheque and Credit

GENERAL INFORMATION

Suppliers :

Reference :

Empire Steel – Udaipur Rajasthan, India

Name of the Person :

Mr. Yuraj Kothari (Proprietor)

Contact No.:

91-9829301825

Since How Long Known :

10 Year

Maximum Limit Dealt :

INR 5.000 Million Yearly

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark:

As claimed by Mr. Yuvraj Kothari (Proprietor) that the subject is very well known company in market, good feedback.

Customers :

End Users, Other

Reference :

R. K. Marble - Udaipur Rajasthan, India

Name of the Person :

Mr. Sanjay Singh (Senior Manager)

Contact No.:

91-8769586000

Since How Long Known :

6 Years

Maximum Limit Dealt :

INR 5.000 Million Yearly

Experience :

Payment Behaviour	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark:

As claimed by Mr. Sanjay Singh (Senior Manager) that they are very much satisfied with subject company.

No. of Employees :

17 (Approximately)

Bankers :

• State Bank of India, Udaipur-313006, Rajasthan, India

Bank Name	State Bank of Bikaner and Jaipur
Branch	Badi Rural Branch, Udaipur-313011, Rajasthan, India
Person Name (With Designation)	Ms. Priyanka (Branch Manager)
Contact Number	91-8003893835
Name of Account Holder	Swastik Engineers
Account Number	--
Account Since (Date/Year of Account Opening)	29.12.2014
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	Cash Credit INR 0.550 Million
Account Operation	Satisfactory
Remarks (If any)	As claimed by Ms. Priyanka (branch Manager) that the subject is having satisfactory track record.

Auditors :

Vinod Singhal and Company

Chartered Accountants

Address :

Udaipur, Rajasthan, India

Memberships No. :

078155

Memberships :

Not Available

Collaborators :

Not Available

Sister Concern:

Not Available

CAPITAL STRUCTURE

As on 31.03.2015

Capital Investment :
Owned :	INR 3.525 Million
Borrowed :	--
Total :	INR 3.525 Million

FINANCIAL DATA

[all figures are in INR Million]

Particulars	31.03.2017	31.03.2016
Sales Turnover (Approximately)	20.000	20.000
		(Due to less orders)

Expected Sales (2017-2018): INR 30.000 Million

The above information has been parted by Mr. Vinod Kumar Suthar (Proprietor)

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		31.03.2015	31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietors Capital		3.525	2.506	1.855
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.525	2.506	1.855
LOAN FUNDS
1] Secured Loans		0.517	1.320	0.327
2] Unsecured Loans		0.525	0.000	0.000
TOTAL BORROWING		1.042	1.320	0.327
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4.567	3.826	2.182
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.274	2.306	1.396
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.078	0.078	0.078
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	1.064	0.015	0.015
	Cash & Bank Balances	2.176	0.462	2.735
	Other Current Assets	1.416	0.000	0.420
	Loans, Deposits & Advances	1.346	1.309	0.043
Total Current Assets		6.002	1.786	3.213
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.787	0.344	2.505
	Other Current Liabilities
	Provisions
Total Current Liabilities		3.787	0.344	2.505
Net Current Assets		2.215	1.442	0.708
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.567	3.826	2.182

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015
	SALES
	Income	22.319
	Other Income	0.004
	TOTAL	22.323
Less	EXPENSES
	Direct Expense	15.816
	Indirect Expenses	5.301
	TOTAL	21.117
	NET PROFIT/ (LOSS)	1.206

	PARTICULARS	31.03.2014
	SALES
	Income	7.690
	Other Income	0.052
	TOTAL	7.742
Less	EXPENSES
	Purchase (net of refund and duty or tax, if any)	3.237
	Freight	0.095
	Power Fuel	0.001
	Rent	0.120
	Repair to machinery	0.052
	Compensation to employee	2.594
	Workmen and staff welfare expenses	0.140
	Sales promotion including publicity (than advertisement )	0.064
	Professional/Consultancy fees/Fee for technical services	0.015
	Traveling expenses excluding foreign traveling	0.021
	Conveyance Expenses	0.034
	Telephone expenses	0.012
	festival celebration expenses	0.031
	Audit fees	0.012
	Hire Charges	0.196
	Accounting Charges	0.024
	Bank Charges	0.002
	General Office Expenses	0.042
	Postage and Courier	0.001
	Printer and Stationer	0.003
	Service Tax	0.171
	TOTAL	6.867
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.875
Less	INTEREST	0.115
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.760
Less/ Add	DEPRECIATION/ AMORTISATION	0.246
	NET PROFIT/ (LOSS)	0.514

	PARTICULARS	31.03.2013
	SALES
	Income	11.855
	Other Income	0.000
	TOTAL	11.855
Less	EXPENSES
	Direct Expense	9.554
	Indirect Expenses	1.762
	TOTAL	11.316
	NET PROFIT/ (LOSS)	0.539

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	17.40	0.71	0.46
Account Receivables Turnover (Income / Sundry Debtors)	20.98	512.67	790.33
Asset Turnover (Operating Income / Net Fixed Assets)	NA	0.38	NA

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.58	0.40	0.60
Debt Equity Ratio (Total Liability / Networth)	0.30	0.53	0.18
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.22	0.14	1.35
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.65	0.92	0.75
Interest Coverage Ratio (PBIT / Financial Charges)	NA	7.61	NA

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	5.40	6.68	4.55
Return on Total Assets ((PAT / Total Assets) * 100)	%	14.44	12.33	11.50
Return on Investment (ROI) ((PAT / Networth) * 100)	%	34.21	20.51	29.06

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.39	5.19	1.28
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.39	5.19	1.28
G-Score Ratio Financial (Networth / Total Assets)	0.42	0.60	0.40
G-Score Ratio Debt (Debts / Equity Capital)	0.30	0.53	0.18
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.39	5.19	1.28

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(INR in Million)	(INR in Million)	(INR in Million)
Proprietors Capital	1.855	2.506	3.525
Reserves & Surplus	0.000	0.000	0.000
Net worth	1.855	2.506	3.525
Secured Loan	0.327	1.320	0.517
Unsecured Loan	0.000	0.000	0.525
Total borrowings	0.327	1.320	1.042
Debt/Equity ratio	0.176	0.527	0.296

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(INR in Million)	(INR in Million)	(INR in Million)
Sales	11.855	7.690	22.319
		(35.133)	190.234

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(INR in Million)	(INR in Million)	(INR in Million)
Sales	11.855	7.690	22.319
Profit	0.539	0.514	1.206
	4.55%	6.68%	5.40%

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	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	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	No
26	Turnover of firm for last five years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	Yes
29	Profitability for last three years	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

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 65.06
UK Pound	1	INR 92.06
Euro	1	INR 80.37

INFORMATION DETAILS

Information Gathered by :	SHW
Analysis Done by :	NYT
Report Prepared by :	RKI

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	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.