MIRA INFORM REPORT

Report No. :	500885
Report Date :	29.03.2018

IDENTIFICATION DETAILS

Name :	HEMSTAR FILAMENTS LLP
Registered Office :	Plot No-4, Survey No.241(1177), Swastik Estate, Village - Sari, Sarkhej-Bavla Highway, Taluka: Sanand, Ahmedabad – 382110, Gujarat
Mobile No.:	91-9099082389 (Mr. Dhaval Jayesh Majmundar)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	28.06.2016
Total Obligation of Contribution:	INR 0.500 Million
LLPIN No.:	AAG-7893
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
Legal Form :	Limited Liability Partnership
Line of Business :	Manufacturer of Textiles. (Registered Activity and also Confirmed by management)
No. of Employees :	25 (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

Maximum Credit Limit :	USD 1400
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a limited liability partnership firm established in the year 2016. It is a manufacturer of Textiles. For the financial year 2017, the subject has not earned revenue from its operations. The moderate financial profile of the firm is marked by modest capital base along with negligible debt level. Rating is constrained on account of limited track record of the subject. Payments seems to be unknown. In view of aforesaid, the subject can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

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 29.03.2018

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. Dhaval Jayesh Majmundar
Designation :	Designated Partner
Contact No.:	91-9099082389
Date :	28.03.2018

LOCATIONS

Registered Office/ Factory :	Plot No-4, Survey No.241(1177), Swastik Estate, Village - Sari, Sarkhej-Bavla Highway, Taluka: Sanand, Ahmedabad – 382110, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9825013417 (Mr. Jayesh Hemlon) 91-9099082389 (Mr. Dhaval Jayesh Majmundar)
Fax No.:	Not Available
E-Mail :	jayesh@hemlon.com dhaval@hemlon.com
Location:	Owned
Locality:	Industrial

PARTNERS

As on 2018

Name :

Mr. Sapan Jayeshbhai Majmudar

Designation :

Designated Partner

Address :

17, Shivalik Villa, Ambli, Taluka Daskroi, Ambli – 380058, Gujarat, India

Date of Birth/Age :

27.03.1987

Date of Appointment :

28.06.2016

DPIN No.:

05010232

Other Directorship :

LLPIN/FLLPIN	LLP Name	Begin Date	End Date
AAA-2509	HEMSPAN INDUSTRIES LLP	13/10/2010	-

Name :

Mr. Dhaval Jayesh Majmundar

Designation :

Designated Partner

Address :

17, Shivalik Villa, Behind Rajpath Club, Ambali, Bopal, Ahmedabad - 380058, Gujarat, India

Date of Birth/Age :

02.03.1989

Date of Appointment :

28.06.2016

DPIN No.:

06845784

Name :

Bela Jayeshbhai Majmudar

Designation :

Designated Partner

Address :

17, Shivalik Villa, Behind Rajpath Club, Ambali, Bopal, Ahmedabad - 380058, Gujarat, India

Date of Appointment :

28.06.2016

Name :

Hemlon Synthetics Private Limited

Designation :

Designated Partner

Address :

6, Panch Ratna Industrial Estate, Changodar, Taluka: Sanand, District: Ahmedabad, Gujarat, India

CONTRIBUTION DETAILS

As on 31.03.2017

Names of Persons	INR In Million
Bela Jayeshbhai Majmudar	0.100
Dhaval Jayesh Majmundar	0.175
Sapan Jayeshbhai Majmudar	0.175
Hemlon Synthetics Private Limited, India	0.050
Total	0.500

BUSINESS DETAILS

Line of Business :	Manufacturer of Textiles. (Registered Activity and also Confirmed by management)
Products/ Services :	Textiles
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Bangladesh
Imports :
Products :	Raw Materials
Countries :	United States of America Singapore
Terms :
Selling :	Cash, L/C and Credit (30/ 60 Days)
Purchasing :	Cash, L/C and Credit (30/ 60 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Wholesalers, Retailers and End Users

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

25 (Approximately)

Bankers :

Bank Name	HDFC Bank Limited
Branch	HDFC Bank House, Senapati Bapat Marg Lower Parel (West), Mumbai - 400013, Maharashtra, India
Person Name (With Designation)	--
Contact Number	91-22-66521000 (Ringing)
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Auditors :
Name :	Sharedalal and Company Chartered Accountants
Address :	702, Parshwanath ESquare Corporate Road, Prahladnagar, Ahmedabad, Gujarat, India
Tel. No.:	91-79-40042326
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern (Confirmed by management):	Hemspan Industries LLP Address: Sub Plot 06, Panch Ratna Estate, Changodar, Sarkhej, Bavla Highway, Ahmedabad, Gujarat, India Line of business: Manufacturer of Polyester texturising yarn. Hemtech Industries Address: 07, Swastik Industrial Estate, Sari Gam, Opposite AAR VEE Denim Unit, Sarkhej, Bavla Highway, Ahmedabad, Gujarat, India Line of business: Manufacturer of Polyester texturising yarn Hemlon Synthetics Private Limited Address: Plot 06, Panch Ratna Estate, Changodar, Sarkhej, Bavla Highway, Ahmedabad, Gujarat, India

CAPITAL STRUCTURE

As on 31.03.2017

Total Obligation Fund	INR In Million
	0.500

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
SHAREHOLDERS FUNDS
1] Contribution received		0.500
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.500
LOAN FUNDS
1] Secured Loans		0.185
2] Unsecured Loans		0.000
TOTAL BORROWING		0.185
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.685
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.693
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.110
	Other Current Assets	18.761
	Loans & Advances	16.630
Total Current Assets		35.501
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.593
	Other Current Liabilities	46.775
	Provisions	0.141
Total Current Liabilities		47.509
Net Current Assets		(12.008)
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.685

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	0.000
	Other Income	0.000
	TOTAL	0.000
Less	EXPENSES
	Cost of Materials Consumed	0.000
	Purchases of Stock-in-Trade	0.000
	Personnel Expenses	0.282
	Administrative expenses	0.052
	Payment to auditors	0.015
	TOTAL	0.349
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(0.349)
Less	INTEREST	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(0.349)
Less/ Add	DEPRECIATION/ AMORTISATION	0.009
	PROFIT/ (LOSS) BEFORE TAX	(0.358)
Less	TAX	0.000
	PROFIT/ (LOSS) AFTER TAX	(0.358)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017
Current Maturities of Long term debt	NA
Cash generated from operations	NA
Net cash flow from operating activity	NA

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)	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	(0.03)

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.99
Debt Equity Ratio (Total Liability / Networth)	0.37
Current Liabilities to Networth (Current Liabilities / Net Worth)	95.02
Fixed Assets to Networth (Net Fixed Assets / Networth)	25.39
Interest Coverage Ratio (PBIT / Financial Charges)	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin [(PAT / Sales) * 100]	%	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	(0.74)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(71.60)

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	0.75
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.75
G-Score Ratio Financial (Networth / Total Assets)	0.01
G-Score Ratio Debt (Debts / Equity Capital)	0.37
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.75

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

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of establishment	Yes
2]	Constitution of the entity Incorporation details	Yes
3]	Locality of the entity	Yes
4]	Premises details	No
5]	Buyer visit details	--
6]	Contact numbers	Yes
7]	Name of the person contacted	Yes
8]	Designation of contact person	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)	Yes
16]	No. of employees	Yes
17]	Details of sister concerns	Yes
18]	Major suppliers	No
19]	Major customers	No
20]	Banking Details	Yes
21]	Banking facility details	Yes
22]	Conduct of the banking account	--
23]	Financials, if provided	Yes
24]	Capital in the business	Yes
25]	Last accounts filed at ROC, if applicable	Yes
26]	Turnover of firm for last about nine months	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	No
29]	Profitability for last about nine months	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

NOTE: The registered office of the company has been shifted from “17, Shivalik Villa, Opposite Saundarya Villa, Rajpath Club Road, Ambali, Ahmedabad – 380058, Gujarat, India” to the present address w.e.f. 14.10.2016

INDEX OF CHARGES

Charges Registered
SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Amount	Address
1	M02796969	100064590	HDFC BANK LIMITED	12/10/2016	17/10/2016	107500000.0	HDFC BANK HOUSESENAPATI BAPAT MARG LOWER PAREL WEST MUMBAI Mumbai City MAHARASHTRA 400013 INDIA

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 65.04
UK Pound	1	INR 92.28
Euro	1	INR 80.62

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	VAR
Report Prepared by :	SUD

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	YES
--AFFILIATION	YES/NO	YES
--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.