MIRA INFORM REPORT

Report No. :	499090.2
Report Date :	03.05.2018

IDENTIFICATION DETAILS

Name :	GOOD LUCK TRADING CORPORATION
Registered Office :	25/26, Loha Mandi, Ghaziabad- 201007, Uttar Pradesh
Mobile No.:	91-9910496310 (Mr. Sushil Kumar Garg)
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment:	Not Divulged
Capital Investment / Paid-up Capital :	INR 21.353 Million
TIN No.:	09990500332
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Divulged
PAN No.: [Permanent Account No.]	ACCPG9519N
GSTN : [Goods & Service Tax Registration No.]	09ACCPG9519N1Z4
Legal Form :	Sole Proprietary Concern
Line of Business :	Dealing in pig iron and all types of iron and steels. (From Indirect Source)
No. of Employees :	1 (Approximately) (At site visit)

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 61000 (In INR 4066565.00)
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear

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 31-03-2018.

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 03.05.2018

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 DENIED BY

Name :	Mr. Sushil Kumar Garg
Designation :	Proprietor
Contact No.:	91-9910496310
Date :	28.03.2018

LOCATIONS

Registered Office :	25/26, Loha Mandi, Ghaziabad- 201007, Uttar Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9910496310 (Mr. Sushil Kumar Garg)
Fax No.:	Not Available
Area :	500 sq. ft. (At site visit)
Locality :	Industrial (At site visit)

SOLE PROPRIETOR

Name :	Mr. Sushil Kumar Garg
Designation :	Proprietor
PAN No.:	ACCPG9519N

BUSINESS DETAILS

Line of Business :	Dealing in pig iron and all types of iron and steels. (From Indirect Source)
Products :	Pig Iron Iron and Steels
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

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

Customers :

• Agrawal Galvsnising
• Kansal Trading Co.
• J.L. Metal Works
• K.L. Steels
• Om Pully House
• Rajhans Steels and Power Limited
• Vikas Traders

No. of Employees :

1 (Approximately) (At site visit)

Bankers :

Bank Name	Not Divulged
Branch	--
Person Name (With Designation)	--
Contact Number	--
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)	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.6 (INR in Million)
ING Vysya Bank Limited	0.000	17.028
Total	0.000	17.028

Auditors :
Name :	Sanjeev Anand and Associates Chartered Accountants
Address :	77, Navyug Market, Ghaziabad, Uttar Pradesh, India
Membership No.:	423453
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern:	Not Divulged

CAPITAL STRUCTURE

As on 31.03.2017

Capital Account :	Amount (INR In Million)
Balance b/f	23.701
Add: Addition	8.764
Add : Net profit during the year	1.301
Less : Withdrawals	(12.413)
Total	21.353

FINANCIAL DATA

[all figures are in INR Million]

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016
EQUITY AND LIABILITIES
1] Proprietors Capital		21.353	23.701
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		21.353	23.701
LOAN FUNDS
1] Secured Loans		0.000	17.028
2] Unsecured Loans		8.570	12.234
TOTAL BORROWING		8.570	29.262
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		29.923	52.963
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.827	11.489
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.218	22.581
	Sundry Debtors	6.557	17.318
	Cash & Bank Balances	9.347	0.584
	Other Current Assets	0.000	1.740
	Loans & Advances	0.006	0.022
Total Current Assets		24.128	42.245
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.014	0.538
	Other Current Liabilities and Provisions	0.018	0.233
Total Current Liabilities		0.032	0.771
Net Current Assets		24.096	41.474
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		29.923	52.963

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Income	131.814	119.550
	Other Income	0.000	0.034
	TOTAL	131.814	119.584
Less	EXPENSES
	Cost of goods sold	128.010	115.803
	Salaries	0.848	0.537
	Bonus	0.042	0.046
	Travelling and Conveyance	0.006	0.004
	Printing and Stationery	0.012	0.009
	Telephone Expenses	0.062	0.037
	Electricity	0.060	0.066
	General Expenses	0.009	0.014
	Business Promotion	0.015	0.010
	Staff Welfare	0.010	0.007
	Car Running Expenses	0.163	0.165
	Scooter Running Expenses	0.018	0.015
	Postage and Telegram	0.001	0.001
	Repair and Maintenance	0.019	0.017
	Rebate and Discount	0.002	0.000
	Labour and Freight (outward) expenses	0.014	0.003
	Insurance	0.068	0.050
	Court fees	0.000	0.000
	Medical Expenses	0.004	0.003
	Audit Fee	0.012	0.014
	House Tax	0.035	0.035
	Diwali Expenses	0.015	0.014
	Loss On Sales of Fixed Assets	0.025	0.000
	TOTAL	129.450	116.850
	PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION	2.364	2.734
Less	FINANCIAL EXPENSES	0.555	1.551
	PROFIT / (LOSS) BEFORE, DEPRECIATION AND AMORTISATION	1.809	1.183
Less/ Add	DEPRECIATION/ AMORTISATION	0.508	0.353
	NET PROFIT/ (LOSS)	1.301	0.830

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Average Collection Days (Sundry Debtors / Income * 365 Days)	18.16	52.87
Account Receivables Turnover (Income / Sundry Debtors)	20.10	6.90
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.04	1.70
Inventory Turnover (Operating Income / Inventories)	0.29	0.12
Asset Turnover (Operating Income / Net Fixed Assets)	0.41	0.24

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.29	0.56
Debt Equity Ratio (Total Liability / Networth)	0.40	1.23
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.40	0.55
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.27	0.48
Interest Coverage Ratio (PBIT / Financial Charges)	4.26	1.76

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016
Net Profit Margin ((PAT / Sales) * 100)	%	0.99	0.69
Return on Total Assets ((PAT / Total Assets) * 100)	%	4.34	1.54
Return on Investment (ROI) ((PAT / Networth) * 100)	%	6.09	3.50

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Current Ratio (Current Assets / Current Liabilities)	2.80	3.25
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.85	1.51
G-Score Ratio Financial (Networth / Total Assets)	0.71	0.44
G-Score Ratio Debt (Debts / Equity Capital)	0.40	1.23
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.80	3.25

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

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2016	31.03.2017
	INR In Million	INR In Million
Share Capital	23.701	21.353
Reserves & Surplus	0.000	0.000
Net worth	23.701	21.353
Secured Loans	17.028	0.000
Unsecured Loans	12.234	8.570
Total borrowings	29.262	8.570
Debt/Equity ratio	1.235	0.401

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	119.550	131.814
		10.258

NET PROFIT MARGIN

Net Profit Margin	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	119.550	131.814
Profit	0.830	1.301
	0.69%	0.99%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	No
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	No
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 (At site visit)	Yes
17	Details of sister concerns	No
18	Major suppliers	No
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	No
26	Turnover of firm for last two years	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
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	No
35	Negative Reporting by Auditors in the Annual Report	No

OBSERVATION POINTS

Name of Company :	GOOD LUCK TRADING CORPORATION
Address :	25/26, Loha Mandi, Ghaziabad- 201007, Uttar Pradesh, India
Person to whom we met :	Mr. Sunil
Designation :	Proprietor
Name Board :	Sighted
Location :	Easy
Landmark (If any) :	Mukherjee Park
Total floors of the building :	Shed type premises
Locality:	Industrial
Area of premises :	500 sq. ft.
Area :	Neutral
No. of employees seen at premises :	1
Visibility Items :	· Telephone · Computers · Air Conditioner · Office Equipment
Furniture items sighted :	Table, Chairs
Sister concerns (Other names on name board) :	Shree Bankey Bihari Marbles
Neighbour’s Interview
i.Name of company :	R S Traders
Contact person name :	Mr. Ankit
ii.Name of company :	Jai Shiv Shakti Steels
Contact person name :	Mr. Abhishek
Neighbour’s Overview :	Existence confirmed
Proof of visit :	Photographs

UNSECURED LOANS

PARTICULAR	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Barikha Garg	0.250	0.250
Nupur Garg	0.290	0.290
Tanvi Garg	0.000	0.164
Anil Kumar Garg and Sons HUF	0.260	0.260
Munni Lala Garg and Sons HUF	0.450	0.450
Rajat Garg	0.139	0.139
Sunil Kumar Garg	1.000	1.000
Tushar Garg	3.109	3.109
Nitin Garg	0.800	0.800
Ritu Garg	0.422	0.422
Savitri Devi	0.350	0.350
Anju Garg	0.500	0.500
Saras Garg	0.300	0.300
Sudha Garg	0.700	0.700
Shree Housing Private Limited	0.000	3.500
Total	8.570	12.234

FIXED ASSETS

• Land
• Plot (Loha Mandi)
• Car
• Telephone
• Scooter
• Computer
• Motor Cycle
• Cycle

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 66.66
UK Pound	1	INR 90.66
Euro	1	INR 80.00

INFORMATION DETAILS

Information Gathered by :	SHL
Analysis Done by :	VAR
Report Prepared by :	JYTK

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.