MIRA INFORM REPORT

Report No. :	507461
Report Date :	10.05.2018

IDENTIFICATION DETAILS

Name :	GANESH ELECTRIC AND HARDWARE STORES
Registered Office :	Shop No.23, Grampanchayat Road, Near Post Office and Railway Station, Goregaon (West,) Mumbai – 400062, Maharashtra
Tel. No.:	91-22-28739094/28781266
Country :	India
Financials (as on) :	31.03.2017 (Detailed Financial) 31.03.2018 (Sales Turnover)
Year of Establishment :	1974
Capital Investment / Paid-up Capital :	INR 9.815 Million (As on 31.03.2017)
IEC No.: [Import-Export Code No.]	Not Applicable (As informed by the management that firm does not have export and import)
PAN No.: [Permanent Account No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
TIN No.:	Not Divulged
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader of electrical goods and accessories. (Confirmed by management)
No. of Employees :	5 (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

Maximum Credit Limit :	USD 28000 (INR in 1877540.00)
Status :	Satisfactory
Payment Behaviour :	Usually 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 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. Kantilal Jain
Designation :	General Manager
Contact No.:	91-9867129290
Date :	05.05.2018

Mobile No.:91-821346364 (Incorrect number)

Tel No.:91-22-28739094/28781266

LOCATIONS

Registered Office :	Shop No.23, Grampanchayat Road, Near Post Office and Railway Station, Goregaon (West,) Mumbai – 400062, Maharashtra, India
Tel. No.:	91-22-28739094/28781266
Mobile No.:	91-9867129290 (Mr. Kantilal Jain)
Fax No.:	Not Available
E-Mail :	bholilal77@gmail.com
Location :	Owned
Locality :	Commercial

SOLE PROPRIETOR

Name :	Mr. Pruthviraj N. Jain
Designation :	Proprietor

KEY EXECUTIVES

Name :	Mr. Kantilal Jain
Designation :	General Manager

BUSINESS DETAILS

Line of Business :	Trade of electrical goods and accessories. (Confirmed by management)
Products :	Goods and Accessories
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash, Cheque and Credit (30/60/90 Days)
Purchasing :	Cash, Cheque and Credit (30/60/90 Days)

GENERAL INFORMATION

Suppliers :

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

Customers :

End Users, OEM’s

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

No. of Employees :

5 (Approximately)

Bankers :

Banker Name :	Dena Bank
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 :	B.B Lodha and Company Chartered Accountants
Address :	Mumbai, Maharashtra, India
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

AS ON 31.03.2017

Particular	31.03.2017 (INR in million)
Pruthviraj N. Jain Capital	9.815
Total	9.815

FINANCIAL DATA

[all figures are INR Million]

Particulars	31.03.2018
Sales Turnover (Approximately)	120.000
	(Due to business growth)

The above information has been parted by Mr. Kantilal Jain (General Manager)

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
EQUITY AND LIABILITIES
1] Proprietors Capital		9.815
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		9.815
LOAN FUNDS
1] Secured Loans
2] Unsecured Loans
TOTAL BORROWING		19.736
DEFERRED TAX LIABILITIES		0.000
TOTAL		29.551
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.280
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.230
	Sundry Debtors	24.265
	Cash & Bank Balances	8.811
	Other Current Assets	0.000
	Loans, Advances and Deposits	0.310
Total Current Assets		45.616
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	17.365
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		17.365
Net Current Assets		28.251
MISCELLANEOUS EXPENSES		0.020
TOTAL		29.551

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	105.292
	Other Income	4.158
	TOTAL	109.450
Less	EXPENSES
	Cost of Materials Consumed	102.681
	Accountant Salary	0.042
	Advertisement Expenses	0.011
	Audit Fees	0.052
	Bike Insurance	0.001
	Conveyance	0.149
	Diwali Expenses	0.049
	Electric Charges	0.128
	Insurance	0.037
	Prof Tax	0.013
	Rent	0.008
	Salary	1.855
	Staff Welfare Expenses	0.087
	Sundry Expenses	0.127
	Telephone Charges	0.049
	Transport and Hamali Charges	0.169
	VAT Tax Paid	0.041
	Vehicle and Petrol Expenses	0.136
	TOTAL	105.635
	PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION	3.815
Less	FINANCIAL EXPENSES	1.736
	PROFIT / (LOSS) BEFORE, DEPRECIATION AND AMORTISATION	2.079
Less/ Add	DEPRECIATION/ AMORTISATION	0.136
	NET PROFIT/ (LOSS)	1.943

Particulars	31.03.2016
Sales Turnover (Approximately)	90.000

The above information has been parted by Mr. Kantilal Jain (General Manager)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	84.12
Account Receivables Turnover (Income / Sundry Debtors)	4.34
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	61.73
Inventory Turnover (Operating Income / Inventories)	0.31
Asset Turnover (Operating Income / Net Fixed Assets)	2.98

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.79
Debt Equity Ratio (Total Liability / Networth)	2.01
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.77
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.13
Interest Coverage Ratio (PBIT / Financial Charges)	2.20

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	1.85
Return on Total Assets ((PAT / Total Assets) * 100)	%	4.14
Return on Investment (ROI) ((PAT / Networth) * 100)	%	19.80

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	2.63
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.92
G-Score Ratio Financial (Networth / Total Assets)	0.21
G-Score Ratio Debt (Debts / Equity Capital)	2.01
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.63

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	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 three years	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 :	GANESH ELECTRIC AND HARDWARE STORES
Address :	Shop No.23, Grampanchayat Road, Near Post Office and Railway Station, Goregaon (West,) Mumbai – 400062, Maharashtra, India
Tel No.:	91-22-28781266
Person to whom we met:	Mr. Kantilal Jain Designation: General Manager
Name Board:	Sighted
Location:	Easy
Landmark (If Any):	Near Railway Station
Total Floors of the building:	Shed type premises
Locality:	Commercial
Area:	Neutral
No. of Employees seen at Premises :	5 (Approximately)
Visibility of Items:	Telephone Computers
Proof of visit:	Photograph

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 :	SHA
Analysis Done by :	VIV
Report Prepared by :	RKI

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.