MIRA INFORM REPORT

Report No. :	507426
Report Date :	07.05.2018

IDENTIFICATION DETAILS

Name :	SHREE AMBIKA ELECTRIC STORES
Registered Office :	Shop No:3A, Peerbhoy Building, 12 Pathakwadi, Pathakwadi, Lohar Chawl, Kalbadevi, Mumbai – 400002, Maharashtra
Tel. No.:	91-22-22052571
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	24.06.1981
Capital Investment / Paid-up Capital :	INR 5.549 Million (As on 31.03.2017)
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
TIN / CST No.:	Not Divulged
PAN No.: [Permanent Account No.]	Not Divulged
Legal Form :	Partnership Concern with an unlimited liability of the partners
Line of Business :	Wholesaler and dealer of electrical goods. [From Indirect Sources]
No. of Employees :	4 (Approximately) [As per site visit]

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 16000 (In INR 1075280.00)
Status :	Satisfactory
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

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 07.05.2018

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. Bhupendra Rawal
Designation :	Partner
Contact No.:	91-9821035571
Name :	Mr. Ketanbhai
Designation :	Senior Accountant
Contact No.:	91-22-22052571
Date :	05.05.2018

LOCATIONS

Registered Office :	Shop No:3A, Peerbhoy Building, 12 Pathakwadi, Pathakwadi, Lohar Chawl, Kalbadevi, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22052571 / 22087068 / 22085290
Mobile No.:	91-9821035571 (Mr. Bhupendra Rawal)
Fax No.:	Not Available
E-Mail :	ambica_ele@hotmail.com
Locality :	Commercial (As per site visit)

PARTNERS

Name :	Mr. Bhupendra D. Rawal
Designation :	Partner
Name :	Mr. Arvind D. Rawal
Designation :	Partner

KEY EXECUTIVES

Name :	Mr. Ketanbhai
Designation :	Senior Accountant

BUSINESS DETAILS

Line of Business :	Wholesaler and dealer of electrical goods. [From Indirect Sources]
Products :	Electrical Goods
Brand Names :	Not Available
Agencies Held :	Anchor Panasonic
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash
Purchasing :	Cash

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

4 (Approximately) [As per site visit]

Bankers :

Banker Name :	Not Divulged
Branch :	Not Divulged
Person Name (With Designation) :	--
Contact Number :	--
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 :	Mayra and Khathri Chartered Accountants
Address :	Mumbai, Maharashtra, India
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	--

CAPITAL STRUCTURE

AS ON 31.03.2017

Particulars	INR in million
Arvind D. Rawal Capital Account	4.556
Arvind D. Rawal Fixed Capital	0.010
Bhupendra D. Rawal Capital Account	0.973
Bhupendra D. Rawal Fixed Capital	0.010
Total	5.549

FINANCIAL DATA

[all figures are 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
EQUITY AND LIABILITIES
1] Partner’s Capital		5.549
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		5.549
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		17.506
TOTAL BORROWING		17.506
DEFERRED TAX LIABILITIES		0.000
TOTAL		23.055
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.200
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.260
	Sundry Debtors	25.325
	Cash & Bank Balances	1.713
	Other Current Assets	0.000
	Loans, Advances & deposits	0.796
Total Current Assets		35.094
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.922
	Other Current Liabilities	0.253
	Provisions	0.064
Total Current Liabilities		12.239
Net Current Assets		22.855
MISCELLANEOUS EXPENSES		0.000
TOTAL		23.055

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	82.321
	Other Income	0.009
	TOTAL	82.330
Less	EXPENSES
	Cost of goods sold	74.789
	Salary and bonus expenses	1.390
	Telephone charges	0.102
	Accounts writing charges	0.082
	Advertisement	0.055
	Audit fees expenses	0.085
	Bad debts accounts	0.040
	Computer maintenance	0.001
	Conveyance expenses	0.119
	Coolie cartage and hamali	0.269
	Electricity charges	0.112
	General expenses	0.029
	Insurance on motor car	0.013
	Insurance on stock	0.017
	Interest on capital to Arvind D. Rawal	0.447
	Interest on capital to Bhupendra D. Rawal	0.062
	Motor car and scooter expenses	0.058
	Printing and stationery expenses	0.043
	Remuneration to partner	1.474
	Tea and coffee to staff	0.085
	TOTAL	79.272
	PROFIT/ (LOSS) BEFORE INTEREST AND DEPRECIATION	3.058
Less	FINANCIAL EXPENSES	2.188
	PROFIT / (LOSS) BEFORE DEPRECIATION	0.870
Less	DEPRECIATION/ AMORTISATION	0.037
	NET PROFIT/ (LOSS)	0.833

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	112.29
Account Receivables Turnover (Income / Sundry Debtors)	3.25
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	58.18
Inventory Turnover (Operating Income / Inventories)	0.42
Asset Turnover (Operating Income / Net Fixed Assets)	15.29

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.84
Debt Equity Ratio (Total Liability / Networth)	3.15
Current Liabilities to Networth (Current Liabilities / Net Worth)	5.36
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.04
Interest Coverage Ratio (PBIT / Financial Charges)	1.40

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
PAT to Sales ((PAT / Sales) * 100)	%	1.01
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.36
Return on Investment (ROI) ((PAT / Networth) * 100)	%	15.01

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.18
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.94
G-Score Ratio Financial (Networth / Total Assets)	0.16
G-Score Ratio Debt (Debts / Equity Capital)	3.15
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.18

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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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 (At site visit)	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
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 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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OBSERVATION POINTS

Name of Company :	SHREE AMBIKA ELECTRIC STORES
Address :	Shop No:3A, Peerbhoy Building, 12 Pathakwadi, Pathakwadi, Lohar Chawl, Kalbadevi, Mumbai – 400002, Maharashtra, India
Person to whom we met:	Mr. Bhuwan (Designation not divulged)
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	Pathak Wadi
Total Floors of the building:	3 Floor
Subject situated on:	Ground Floor
Locality:	Commercial
Area :	Upmarket
No. of employees seen at premises:	4 (Approximately)
Visibility of Items :	· Telephone
Proof of visit:	Photograph / Visiting Card

FIXED ASSETS:

· Air conditioner

· Computer

· Furniture and Fixture

· Mobile

· Motor Car

· Motor Cycle

· Pager

· Printer

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 66.77
UK Pound	1	INR 90.58
Euro	1	INR 79.97

INFORMATION DETAILS

Information Gathered by :	SPR
Analysis Done by :	NYT
Report Prepared by :	NKT

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.