MIRA INFORM REPORT

Report No. :	507803
Report Date :	10.05.2018

IDENTIFICATION DETAILS

Name :	MCM TELECOM EQUIPMENT PRIVATE LIMITED
Registered Office :	A - 58 and 59, Sector – 64, Noida - 201301, Uttar Pradesh
Tel. No.:	91-120-4080800
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	05.05.2015
Com. Reg. No.:	20-070485
Capital Investment / Paid-up Capital :	INR 129.563 Million
CIN No.: [Company Identification No.]	U32204UP2015PTC070485
TIN No.:	09365722167
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAJCM7263K
GSTN : [Goods & Service Tax Registration No.]	09AAJCM7263K1ZV
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacture of Pagers, Cellular Phones, and other mobile communication Equipments. (Registered activity)
No. of Employees :	Information declined by the management

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 150000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Million Club Global (HK) Limited, Hong Kong and was incorporated in the year 2015. The company has sound financial base, comfortable capital structure along with debt free balance sheet. Rating takes into consideration strong managerial and financial support received to the company from its holding entity as well as regular equity infusion. Further, the company also derives strength from its healthy improving revenue profile as compared to previous year. However, rating strength is partially offset due to continuously losses incurred by the company which has reported negative reserves position. Trade relations are reported as fair. Business is active. Payments are slow but correct. The company can be considered for business dealings at usual trade terms and conditions.

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 10.05.2018

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

MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-120-4080800)

LOCATIONS

Registered Office :	A - 58 and 59, Sector – 64, Noida - 201301, Uttar Pradesh, India
Tel. No.:	91-120-4080800
Fax No.:	Not Available
E-Mail :	zp_qiu@126.com info@million-club.com
Website :	www.million-club.com

DIRECTORS

As on 31.03.2017

Name :

Mr. Sudhir Kumar Hasija

Designation :

Director

Address :

No. 7, Wellington Street, Richmond Town, Bangalore – 560025, Karnataka, India

Date of Birth/Age :

01.06.1956

Qualification :

Graduate

Date of Appointment :

05.05.2015

PAN No.:

AKKPS7295P

DIN No.:

00157168

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L28112KA1984PLC005873	MRO-TEK REALITY LIMITED	21/09/2016	-
U32109KA1994PLC015750	UNITED TELELINKS(BANGALORE)LIMITED	01/12/2010	-
U64200MH2008PTC189165	SANMUKH TELECOM PRIVATE LIMITED	26/12/2008	-
U32109DL2009PTC194165	KARBONN MOBILE INDIA PRIVATE LIMITED	11/09/2009	-
U32109KA2010PTC054024	FORTUNA GLOBAL TELE DEVICE PRIVATE LIMITED	10/06/2010	-
U31109DL2016PTC292728	KINECT POWER PRIVATE LIMITED	17/03/2016	-
U74999TG2016PTC112069	SRI VENKATESWARA MOBILE & ELECTRONICS MANUFACTURING HUB PRIVATE LIMITED	20/09/2016	-

Name :

Zhipeng Qiu

Designation :

Director

Address :

A-48, Sector-2, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

Graduate

Qualification :

01.01.1975

Date of Appointment :

05.05.2015

DIN No.:

02548895

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U64200DL2009PTC189286	LONGTEL TECHNOLOGY PRIVATE LIMITED	09/04/2009	-
U51219DL2012PTC232804	Q & D IMPEX PRIVATE LIMITED	13/03/2012	-
U74120UP2015PTC070290	C-EXMART TECHNOLOGY PRIVATE LIMITED	22/04/2015	-
U32309UP2017PTC089249	BAIJUNDA ELECTRONICS PRIVATE LIMITED	18/01/2017	-
U35999UP2018PTC100347	QOOGO MOTOR PRIVATE LIMITED	17/01/2018	-

Name :

Brajesh Kumar

Designation :

Director

Address :

RZ-5, Third Floor, Ashok Park, Near SBI ATM West Sagarpur, Nangal Raya, Delhi – 110046, India

Date of Birth/Age :

15.03.1982

Qualification :

Graduate

Date of Appointment :

05.05.2015

PAN No.:

BWDPK4785L

DIN No.:

07151831

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51219DL2012PTC232804	Q & D IMPEX PRIVATE LIMITED	17/08/2016	-
U74120UP2015PTC070290	C-EXMART TECHNOLOGY PRIVATE LIMITED	19/08/2016	-
U32309UP2017PTC089249	BAIJUNDA ELECTRONICS PRIVATE LIMITED	18/01/2017	-
U35999UP2018PTC100347	QOOGO MOTOR PRIVATE LIMITED	17/01/2018	-

KEY EXECUTIVES

Name :	Chetan Kumar
Designation :	Company Secretary
Address :	D-98/606, St No. 4 Ashok Nagar, Shahdara, Delhi – 110093, India
Date of Birth/Age :	09.08.1994
Qualification :	CS
Date of Appointment :	11.11.2016
PAN No.:	DZCPK0922B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares	%age of holding
Million Club Global (HK) Limited	8162454	63.00
Sudhir Kumar Hasija	4793823	37.00
Total	12956277	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2017

Category	Percentage
Promoter – (Individual/ Hindu Undivided Family – Indian)	37.00
Promoter - Bodies corporate	63.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture of Pagers, Cellular Phones, and other mobile communication Equipments. (Registered activity)

Products :

Item Code No.	Product Description
85256099	Manufacture of Pagers, Cellular Phones, and other mobile communication Equipments

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

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 :

Information declined by the management

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)	--

Auditors :
Name :	R M A and Associates LLP Chartered Accountants
Address :	Plot No - 75, Patparganj Industrial Area, Delhi – 110092, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAFFR4388F
Memberships :	Not Available
Collaborators :	Not Available
Holding company :	Million Club Global (HK) Limited, Hong Kong
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	United Telelinks (Bangalore) Limited, India U32109KA1994PLC015750 C-Exmart Technology Private Limited, India U74120UP2015PTC070290 Fortuneship Technology (HK) Limited, Hong Kong

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	INR 10/- each	INR 150.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12956277	Equity Shares	INR 10/- each	INR 129.563 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	129.563	100.100
(b) Reserves and Surplus	(78.023)	(42.991)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	25.735
Total Shareholders’ Funds (1) + (2)	51.540	82.844
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	7.153	6.023
(c) Other long-term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	7.153	6.023
(4) Current Liabilities
(a) Short-term borrowings	0.000	0.000
(b) Trade payables	250.540	20.223
(c) Other current liabilities	101.570	69.108
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	352.110	89.331
TOTAL	410.803	178.198
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	93.261	98.293
(ii) Intangible Assets	0.000	0.000
(iii) Tangible assets capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term loans and advances	16.070	15.375
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	109.331	113.668
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	289.170	25.928
(c) Trade receivables	1.207	1.727
(d) Cash and bank balances	0.870	35.195
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	10.225	1.680
Total Current Assets	301.472	64.530
TOTAL	410.803	178.198

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Total Revenue from operations	2530.232	765.045
	Other Income	2.587	0.629
	TOTAL	2532.819	765.674
Less	EXPENSES
	Cost of Materials Consumed	96.148	24.827
	Purchases of Stock-in-Trade	2499.673	671.660
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(263.242)	(25.928)
	Employee benefit expense	162.284	69.431
	Other expenses	62.644	57.788
	TOTAL	2557.507	797.778
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(24.688)	(32.104)
Less	FINANCIAL EXPENSES	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(24.688)	(32.104)
Less/ Add	DEPRECIATION/ AMORTISATION	9.214	4.863
	PROFIT/ (LOSS) BEFORE TAX	(33.902)	(36.967)
Less	TAX	1.130	6.023
	PROFIT/ (LOSS) AFTER TAX	(35.032)	(42.990)
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	1.641	0.000
	TOTAL EARNINGS	1.641	0.000
	Earnings / (Loss) Per Share (INR)	(2.70)	(4.30)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016
Current Maturities of Long term debt	0.000	0.000
Net cash flows from (used in) operations	(29.446)	24.055
Net cash flows from (used in) operating activities	(29.446)	24.055

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016
Average Collection Days [Sundry Debtors / Income * 365]	0.17	0.82
Account Receivables Turnover [Income / Sunday Debtors]	2096.30	442.99
Average Payment Days [Sundry Creditors / Purchases * 365]	35.23	10.60
Inventory Turnover [Operating Income / Inventories]	(0.09)	(1.24)
Asset Turnover [Operating Income / Net Fixed Assets]	(0.26)	(0.33)

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets]	0.86	0.50
Debt Equity Ratio (Borrowings / NetWorth)	0.00	0.00
Current Liabilities to Networth (Current Liabilities / NetWorth)	6.83	1.08
Fixed Assets to NetWorth (Net Fixed Assets / NetWorth)	1.81	1.19
Interest Coverage Ratio [PBIT / Financial Charges]	0.00	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016
Net Profit Margin [(PAT / Sales) * 100]	(%)	(1.38)	(5.62)
Return on Total Assets [(PAT / Total Assets) * 100]	(%)	(8.53)	(24.12)
Return on Investment (ROI) [(PAT / NetWorth) * 100]	(%)	(67.97)	(51.89)

SOLVENCY RATIO

PARTICULARS	31.03.2017	31.03.2016
Current Ratio [Current Assets / Current Liabilities]	0.86	0.72
Quick Ratio [(Current Assets - Inventories) / Current Liabilities]	0.03	0.43
G-Score Ratio Financial [NetWorth / Total Assets]	0.13	0.46
G-Score Ratio Debt [Debts / Equity Capital]	0.00	0.00
G-Score Ratio Liquidity [Total Current Assets / Total Current Liabilities]	0.86	0.72

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)
Share Capital	100.100	129.563
Reserves & Surplus	(42.991)	(78.023)
Money received against share warrants	0.000	0.000
Share Application money pending allotment	25.735	0.000
Net worth	82.844	51.540
Long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)
Sales	765.045	2530.232
		230.730

NET PROFIT MARGIN

Net Profit Margin	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)
Sales	765.045	2530.232
Profit/ (Loss)	(42.990)	(35.032)
	(5.62 %)	(1.38 %)

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	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
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	No
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 about one year and 11 months	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for about one year and 11 months	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	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Plant and equipment
• Furniture and fixtures
• Office equipment
• Computer equipments

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 67.08
UK Pound	1	INR 91.14
Euro	1	INR 80.01

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	PRS
Report Prepared by :	KJL

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.