MIRA INFORM REPORT

Report No. :	506948
Report Date :	08.05.2018

IDENTIFICATION DETAILS

Name :	STROS ESQUIRE ELEVATORS AND HOISTS PRIVATE LIMITED
Registered Office :	301, Shreeram, 10, Haribhakti Colony Ext, Race Course, Vadodara – 390007, Gujarat
Mobile No.:	91-8238038458 (Mr. Srishil K Choughal)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	01.12.2014
Com. Reg. No.:	04- 081390
Capital Investment / Paid-up Capital :	INR 29.814 Million
CIN No.: [Company Identification No.]	U29253GJ2014PTC081390
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	24AAVCS1911L1Z0
TIN No.:	24190205633
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAVCS1911L
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in tower hoists, industrial elevators, works platform, suspended rope platform and related to such machineries. Manufacturing of lifting and handling equipments. [Registered activity] Manufacturer of construction hoists and industrial elevators. [Confirmed by management]
No. of Employees :	36 (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 82000
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

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 08.05.2018

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 PARTED BY

Name :	Mr. Srishil K Choughal
Designation :	General Manager
Contact No.:	91-8238038458
Date :	05.05.2018

LOCATIONS

Registered Office :	301, Shreeram, 10, Haribhakti Colony Ext, Race Course, Vadodara – 390007, Gujarat, India
Tel. No.:	91-265-6451915
Mobile No.:	91-8238038458 (Mr. Srishil K Choughal)
Fax No.:	Not Available
E-Mail :	anuj@esquiremachines.com getintouch@stros-esquire.com
Website:	http://www.stros-esquire.com
Location :	Rented
Locality :	Industrial
Factory :	Block No. 67, Kashipura - Sarar Road, Ramangamdi, G.I.D.C. - Por, Vadodara - 391 243 Gujarat, India
Area:	30000 Sq. Ft (As per site visit)
Locality :	Industrial (As per site visit)

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Mahesh Mohanlal Gohil

Designation :

Director

Address :

10, Girdhar Nagar Society, Atmajyot Mandir Road, Vadodara 390007, Gujarat, India

Date of Appointment :

05.02.2016

DIN No.:

00293986

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U63020GJ1996PTC028799	ESQUIRE MACHINES PVT LTD	01/10/2015	-
U51900GJ2009PTC058136	ESQUIRE MACHINES TRADING AND RENTING PRIVATE LIMITED	17/09/2009	-
U72900PN2014PTC152144	EXXAT SYSTEMS PRIVATE LIMITED	11/08/2014	-

Name :

Mr. Anuj Mahesh Gohil

Designation :

Director

Address :

10, Girdhar Nagar Society, Atmajyot Mandir Road, Vadodara 390007, Gujarat, India

Date of Appointment :

01.12.2014

DIN No.:

01514071

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U63020GJ1996PTC028799	ESQUIRE MACHINES PVT LTD	01/10/2015	-
U51900GJ2009PTC058136	ESQUIRE MACHINES TRADING AND RENTING PRIVATE LIMITED	10/10/2009	-
U74900GJ2011PTC064305	ESQUIRE IDEATION PRIVATE LIMITED	07/03/2011	-
U72900PN2014PTC152144	EXXAT SYSTEMS PRIVATE LIMITED	01/01/2018	-

Name :

Mr. Martin Vladimir Hamacek

Designation :

Director

Address :

26, Luhy, Prosenicka Lhota, Sedlcany 26401 Czech

Date of Appointment :

01.12.2014

DIN No.:

06924999

KEY EXECUTIVES

Name :	Mr. Srishil K Choughal
Designation :	General Manager

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Equity Shareholders	No. of Shares
Esquire Machine Private Limited, India	796600
Stros Sedlcanske Strojirny, Czech Republic	796600
Total	1593200

Names of Preference Shareholders	No. of Shares
Stros Sedlcanske Strojirny, Czech Republic	1388200
Total	1388200

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2017

Category	Percentage
Promoters- Body corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

• Trading in tower hoists, industrial elevators, works platform, suspended rope platform and related to such machineries.
• Manufacturing of lifting and handling equipments.

[Registered activity]

• Manufacturer of construction hoists and industrial elevators. [Confirmed by management]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Manufacturing of lifting and handling equipments	28162

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Products :

Raw material

Countries :

European Countries

Terms :

Selling :

L/C, Cheque and Others (RTGS)

Purchasing :

L/C, Cheque and Others (RTGS)

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 :

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

No. of Employees :

36 (Approximately)

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 :	D.C. Parikh and Company Chartered Accountants
Address :	311-312, R K Plaza, Near Utkarsh Vidyalaya, Diwalipura, Vadodara – 390007, Gujarat, India
Tel. No.:	91-265-2327602
PAN N Income-tax PAN of auditor or auditor's firm :	ACTPP2402L
Memberships :	Not Available
Collaborators :	Not Available
Company under common management :	Esquire Machines Private Limited Esquire Ideation Private Limited

CAPITAL STRUCTURE

AFTER 29.09.2017

Authorised Capital : INR 40.000 Million

Issued, Subscribed & Paid-up Capital : INR 38.693 Million

AS ON 29.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
1700000	Equity Shares	INR 10/- each	INR 17.000 Million
2300000	Preference Shares	INR 10/- each	INR 23.000 Million
	Total		INR 40.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1600000	Equity Shares	INR 10/- each	INR 16.000 Million
1400000	Preference Shares	INR 10/- each	INR 14.000 Million
	Total		INR 30.000 Million

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1593200	Equity Shares	INR 10/- each	INR 15.932 Million
1388200	Preference Shares	INR 10/- each	INR 13.882 Million
	Total		INR 29.814 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	29.814	15.932	4.000
(b) Reserves & Surplus	(0.957)	(2.044)	(1.243)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	28.857	13.888	2.757
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.368	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.368	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.050
(b) Trade payables	63.725	13.606	0.326
(c) Other current liabilities	0.164	0.304	0.203
(d) Short-term provisions	0.806	0.807	0.681
Total Current Liabilities (4)	64.695	14.717	1.260
TOTAL	93.920	28.605	4.017
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.481	11.010	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	38.534	13.487	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.275	0.130	0.060
(e) Other Non-current assets	0.408	0.442	3.082
Total Non-Current Assets	49.698	25.069	3.142
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	31.626	0.000	0.000
(c) Trade receivables	2.184	0.594	0.540
(d) Cash and cash equivalents	0.068	1.776	0.086
(e) Short-term loans and advances	0.082	0.019	0.000
(f) Other current assets	10.262	1.147	0.249
Total Current Assets	44.222	3.536	0.875
TOTAL	93.920	28.605	4.017

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	5.185	0.837	0.000
	Other Income	0.000	0.000	0.000
	TOTAL	5.185	0.837	0.000
		(Due to business growth)
Less	EXPENSES
	Cost of Materials Consumed	2.451	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2.452)	0.000	0.000
	Employees benefits expense	0.317	0.054	1.036
	Other expenses	3.027	1.427	0.205
	TOTAL	3.343	1.481	1.241
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1.842	(0.644)	(1.241)
Less	FINANCIAL EXPENSES	0.032	0.022	0.002
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1.810	(0.666)	(1.243)
Less/ Add	DEPRECIATION/ AMORTISATION	0.355	0.135	0.000
	PROFIT/ (LOSS) BEFORE TAX	1.455	(0.801)	(1.243)
Less	TAX	0.368	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	1.087	(0.801)	(1.243)
	Earnings / (Loss) Per Share (INR)	0.68	(0.50)	(3.11)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	9.315	1.468	NA
Net cash flows from (used in) operations	9.315	1.468	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	153.74	259.03	0.00
Account Receivables Turnover (Income / Sundry Debtors)	2.37	1.41	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	9489.85	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	0.06	0.00	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	0.04	(0.03)	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.69	0.51	0.31
Debt Equity Ratio (Total Liability / Networth)	0.00	0.00	0.02
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.24	1.06	0.46
Fixed Assets to Networth (Net Fixed Assets / Networth)	1.70	1.76	0.00
Interest Coverage Ratio (PBIT / Financial Charges)	57.56	(29.27)	(620.50)

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	20.96	(95.70)	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.16	(2.80)	(30.94)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	3.77	(5.77)	(45.09)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.68	0.24	0.69
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.19	0.24	0.69
G-Score Ratio Financial (Networth / Total Assets)	0.31	0.49	0.69
G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00	0.01
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.68	0.24	0.69

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	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	4.000	15.932	29.814
Reserves & Surplus	(1.243)	(2.044)	(0.957)
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2.757	13.888	28.857
Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	0.050	0.000	0.000
Total borrowings	0.050	0.000	0.000
Debt/Equity ratio	0.018	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	0.000	0.837	5.185
			519.474

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	0.000	0.837	5.185
Profit	(1.243)	(0.801)	1.087
		(95.70%)	20.96%

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	Yes
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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
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	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
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 :	STROS ESQUIRE ELEVATORS AND HOISTS PRIVATE LIMITED
Address :	Block No. 67, Kashipura - Sarar Road, Ramangamdi, G.I.D.C. - Por, Vadodara - 391 243 Gujarat, India
Mobile No.:	91-8238038458
Person to whom we met:	Name: Mr. Srishil K Choughal Designation: General Manager
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	National Highway
Total Floors of the building:	Shed type premises
Locality:	Industrial
Area of Premises:	30,000 Sq. Ft
Area :	Upmarket
No. of Employees seen at Premises :	30
Visibility of Items:	Telephone Telex Computers Air conditioner Office Equipment’s
Proof of visit:	Photographs

INDEX OF CHARGE: No Charges Exists for Company

CORPORATE INFORMATION

Subject having CIN: U29253GJ2014PTC081390 is private limited company engaging in the business of trading in tower hoists, industrial elevators, works platform, suspended rope platform and related to such machineries. The company is incorporated through Joint venture of Esquire Machines Private Limited Indian Company) and Stros Sedlcanske Strojirny (Foreign Company, Europe)

BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR /STATE OF COMPANY’S AFFAIRS.

During the year, the turnover of the company was 5.185 million compared to turnover of INR 0.837 million during the previous year 2015-16. The net profit after tax for the year 2016-17 was INR 1.087 million compared to net loss of INR 0.801 million during the previous year 2015-16.

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 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 66.11
UK Pound	1	INR 90.85
Euro	1	INR 80.12

INFORMATION DETAILS

Information Gathered by :	TEJ
Analysis Done by :	VAR
Report Prepared by :	KVT

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	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.