MIRA INFORM REPORT

Report No. :	499727
Report Date :	26.03.2018

IDENTIFICATION DETAILS

Name :	JAI BALAJI TIMBER PRODUCTS
Registered Office :	No. 83, Ground Floor, Nimtolla Ghat Street, Kolkata - 700006, West Bengal
Tel. No.:	91-33-22709692
Country :	India
Financials (as on) :	31.03.2016
Year of Establishment :	2008
Capital Investment / Paid-up Capital :	INR 2.657 Million (As on 31.03.2016)
IEC No.:	Not Applicable (As informed by the management that firm does not have export and import)
TIN/CST No.:	19372413007
PAN No.: [Permanent Account No.]	BHBPS2991F
GSTN : [Goods & Service Tax Registration No.]	19BHBPS2991F1Z0
TIN/CST No.:	19372413007
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturing of electronic products such as Bpl Kit, LT Transmiter Line Material, LT Line Spacer 3 Lines, Spacer Rigid Type, Pin Insulator etc. and Trading of timber cable accessories, plywood etc. (Confirmed by Management)
No. of Employees :	7 (Approximately)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was established in the year 2008 as a proprietorship firm and it is having satisfactory track record. It is engaged as manufacturer and trader of electronic products and timber. Mr. Suraj Sharma (Proprietor) has provided general information and revenue figure for FY 2016-17 as INR 60.000 million. However Financials could not be verified. Further, as per available data base financial records 2016, the firm has registered decrease in its revenue from operations as compared to previous year and maintained profitability margin of 2.98%. Rating takes into consideration firm’s sound financial profile along with adequate capital base and debt free balance sheet. The firm also derives strength from its long track records of business operations and acceptable revenue profile. Trade relations are reported as fair. Business is active. Payments are usually correct. The firm can be considered for business dealings at usual trade terms and condition.

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 26.03.2018

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. Suraj Sharma
Designation :	Proprietor
Contact No.:	91-9433372193
Date :	25.03.2018

LOCATIONS

Registered Office/Factory :	No. 83, Ground Floor, Nimtolla Ghat Street, Kolkata - 700006, West Bengal, India
Tel. No.:	91-33-22709692
Mobile No.:	91-9433372193 (Mr. Suraj Sharma)
Fax No.:	Not Available
E-Mail :	jbtp.suraj@gmail.com
Website :	http://www.jaibalajiproducts.in
Location :	Rented
Locality :	Commercial cum Residential

SOLE PROPRIETOR

Name :	Mr. Suraj Sharma
Designation :	Proprietor
PAN No.:	BHBPS2991F

BUSINESS DETAILS

Line of Business :	Manufacturing of electronic products such as Bpl Kit, LT Transmiter Line Material, LT Line Spacer 3 Lines, Spacer Rigid Type, Pin Insulator etc. and Trading of timber cable accessories, plywood etc. (Confirmed by Management)
Products :	Bpl Kit LT Transmiter Line Material LT Line Spacer 3 Lines Spacer Rigid Type Pin Insulator
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Advance Payment / L/C, Cheque and Credit (30/60 Days)
Purchasing :	Advance Payment / L/C, Cheque and Credit (30/60 Days)

GENERAL INFORMATION

Suppliers :

Reference :	Amit Electronic Industries
Name of the Person :	Mr. K.K. Bansal (Partner)
Contact No.:	91-9810681231
Since How Long Known :	1-2 Year
Maximum Limit Dealt :	As per requirement
Experience :	--
Remark:	Mr. K.K. Bansal (Partner) denied to provide feedback about the subject company.

Customers :

End Users

Reference :	Larsen and Toubro Limited
Name of the Person :	--
Contact No.:	91-22-61774200
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	Management non-cooperative

No. of Employees :

7 (Approximately)

Bankers :

Banker Name :	State Bank of India
Branch :	Nimtolla Ghat Street, Kolkata, West Bengal, India
Person Name (With Designation) :	Mr. Vishwajeet (Relationship Manager)
Contact Number :	91-9674712783 (Ringing)
Name of Account Holder :	Jai Balaji Timber Products
Account Number :	--
Account Since (Date/Year of Account Opening) :	8 Years (Approximately)
Average Balance Maintained :	-
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Letter of Credit: INR 20.000 Million (Not confirmed with banker)
Account Operation :	--
Remark :	--

Banker Name :	Standard Chartered Bank
Branch :	19, NS, Road, Kolkata – 700001, West Bengal, India
Person Name (With Designation) :	--
Contact Number :	91-33-39120153 (Ringing)
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Auditors :
Name :	Vivek Kumar and Company Chartered Accountants
Membership No.:	306292
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	Not Available

CAPITAL STRUCTURE

As on 31.03.2016

Capital Account	31.03.2016 (INR in Million)
Proprietor’s Capital B/F	2.139
Add: Net Profit	0.654
	2.793
Add: Introduced	0.045
	2.838
Less: TDS	(0.007)
Less: Cash Withdrawn	(0.050)
Less: LIC Premium	(0.124)
	2.657

FINANCIAL DATA

[all figures are INR Million]

Particulars	31.03.2017
Sales Turnover (Approximately)	60.000

Expected Sales (2017-2018): INR 250.000 Million (Due to more order)

The above information has been parted by Mr. Suraj Sharma (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		31.03.2016	31.03.2015
EQUITY AND LIABILITIES
1] Proprietors Capital		2.657	2.139
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		2.657	2.139
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		2.657	2.139
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.059	0.066
Capital work-in-progress		0.000	0.000
INVESTMENT		2.497	1.367
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.581	0.344
	Sundry Debtors	18.652	19.005
	Cash & Bank Balances	0.143	0.624
	Other Current Assets	7.212	5.493
	Loans & Advances	0.000	0.000
Total Current Assets		27.588	25.466
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	27.475	24.748
	Other Current Liabilities and Provisions	0.012	0.012
Total Current Liabilities		27.487	24.760
Net Current Assets		0.101	0.706
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		2.657	2.139

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015
	SALES
	Income	21.840	30.669
	Other Income	0.145	0.068
	TOTAL	21.985	30.737
		(Due to market fluctuation)
Less	EXPENSES
	Cost of Materials Consumed	19.547	29.036
	Labour Charges	0.398	0.247
	Loading and Unloading Charges	0.084	0.098
	Carriage Inward	0.244	0.106
	Packing Charges	0.064	0.000
	Salary and Bonus	0.313	0.256
	Electric Charges	0.010	0.013
	Telephone Charges	0.005	0.009
	Bank Charges and Commission	0.007	0.004
	Interest on Entry Tax	0.001	0.000
	Printing and Stationery	0.015	0.007
	Mobile Expenses	0.032	0.029
	Travelling and Conveyance	0.058	0.036
	Accounting Charges	0.048	0.036
	Carriage Outward	0.230	0.153
	General Charges	0.095	0.042
	Staff welfare Expenses	0.028	0.019
	Rent	0.002	0.002
	Trade License	0.000	0.001
	Postage and Stamp	0.001	0.000
	Audit Fees	0.012	0.012
	Entry Tax	0.016	0.026
	Material Testing Charges	0.022	0.000
	Professional Tax	0.003	0.001
	workshop maintenance	0.026	0.014
	Brokerage charges	0.062	0.000
	Interest on VAT/CST	0.000	0.001
	TOTAL	21.323	30.148
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.662	0.589
Less/ Add	DEPRECIATION/ AMORTISATION	0.007	0.007
	NET PROFIT/ (LOSS)	0.655	0.582

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	513.04	311.10
Inventory Turnover (Operating Income / Inventories)	0.42	1.71
Asset Turnover (Operating Income / Net Fixed Assets)	11.22	8.92

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.91	0.92
Debt Equity Ratio (Total Liability / Networth)	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	10.35	11.58
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.02	0.03

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015
PAT to Total Income ((PAT / Total Income) * 100)	%	2.98	1.89
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.17	2.16
Return on Investment (ROI) ((PAT / Networth) * 100)	%	24.65	27.21

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.00	1.03
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.95	1.01
G-Score Ratio Financial (Networth / Total Assets)	0.09	0.08
G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.00	1.03

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	31.03.2015	31.03.2016
	INR In Million	INR In Million
Proprietor’s Capital	2.139	2.657
Reserves & Surplus	0.000	0.000
Net worth	2.139	2.657
Secured Loan	0.000	0.000
Unsecured Loan	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016
	INR In Million	INR In Million
Sales	30.669	21.840
		(28.788)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016
	INR In Million	INR In Million
Sales	30.669	21.840
Profit	0.582	0.655
	1.90%	3.00%

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	No
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	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	Yes
29	Profitability for last two 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	Indian Rupees
US Dollar	1	INR 65.06
UK Pound	1	INR 92.06
Euro	1	INR 80.37

INFORMATION DETAILS

Information Gathered by :	SAV
Analysis Done by :	PSD
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.