MIRA INFORM REPORT

Report No. :	504707.2
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	COMPRESSORS & CONTROLS
Registered Office :	D. No. 39-13-33, Muralinagar, Vishakhapatnam – 530007, Andhra Pradesh
Mobile No.:	91-8019090324 (Mr. Suresh Kumar)
Country :	India
Financials (as on) :	31.03.2018 (Turnover) 31.03.2017 (Detailed Financial)
Year of Establishment:	2001
Capital Investment / Paid-up Capital :	INR 39.403 Million (As on 31.03.2017)
TIN No.:	37690173963
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAEPY8043R
GSTN : [Goods & Service Tax Registration No.]	37AAEPY8043R1ZO
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturer of pressure vessels cashew processing machinery, custom bill equipment also undertakes contracts of civil, electrical and engineering works. (Confirmed by management)
No. of Employees :	70 (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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a proprietorship concern established in the year 2001. It is a manufacturer of pressure vessels cashew processing machinery, custom bill equipment also undertakes contracts of civil, electrical and engineering works. Mr. Suresh Kumar (Proprietor) has claimed that the subject achieved revenue of INR 90.000 million for the FY 2018. As per the financials of FY 2017, the concern achieved revenue growth of 10.24% as compared to the previous year along with a decent profit margin of 11.90%. The satisfactory financial profile of the company is marked by sufficient networth base along with low debt balance sheet profile. Payment seems to be usually correct. In view of aforesaid, the concern 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 14.05.2018

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. Suresh Kumar Yenduri
Designation :	Proprietor
Contact No.:	91-8019090324
Date :	21.04.2018

LOCATIONS

Registered Office :	D. No.39-13-33, Muralinagar, Vishakhapatnam – 530007, Andhra Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-8019090324 (Mr. Suresh Kumar Yenduri) 91-9247867585 (Kiran)
Fax No.:	Not Available
E-Mail :	cpvizag@yahoo.com
Area :	4000 sq. ft.
Location :	Owned
Locality :	Residential
Factory :	Plot No.2 and 3, IDA, Gurrampalem, Pendurthi, Visakhapatnam-531173, Andhra Pradesh, India
Area :	6300 Yard

SOLE PROPRIETOR

Name :	Mr. Suresh Kumar Yenduri
Designation :	Proprietor
Date of Birth:	01.10.1966
PAN No.:	AAEPY8043R

BUSINESS DETAILS

Line of Business :	Manufacturer of pressure vessels cashew processing machinery, custom bill equipment also undertakes contracts of civil, electrical and engineering works. (Confirmed by management)
Products :	Pressure Vessels Cashew Processing Machinery Custom Bill Equipment
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	L/C, Cash, Advance Payment, Cheque, Credit and Others (Depend)
Purchasing :	L/C, Cash, Advance Payment, Cheque, Credit and Others (Depend)

GENERAL INFORMATION

Suppliers :

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

Customers :

Retailers

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

No. of Employees :

70 (Approximately)

Bankers :

Bank Name	Axis Bank Limited
Branch	Gajuwaka Branch, Vishakhapatnam, Andhra Pradesh, India
Person Name (With Designation)	--
Contact Number	91-8142444401
Name of Account Holder	Compressors & Controls
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	Management non cooperative

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Secured loans	1.759	0.000
Loans and advance from banks	31.198	30.721
Total	32.957	30.721

Auditors :

Name :

M.V. Satnarayana and Company

Chartered Accountant

Address:

Vishakhapatnam, Andhra Pradesh, India

Memberships No.:

018537

Memberships :

Not Available

Collaborators :

Not Available

Sister Concern:

Name :	Revanth Technologies
Address :	39-13-33, Muralinagar, Vishakhapatnam – 530007, Andhra Pradesh, India
Line of Business :	Manufacturing of Cashew Billing Machines.

CAPITAL STRUCTURE

As on 31.03.2017

(INR in Million)

Particular	As on 31.03.2017
Y Suresh Kumar	32.171
Y Suresh Kumar (Current)	(0.042)
Profit and Loss A/c	7.274
Total		39.403

FINANCIAL DATA

[all figures are in INR Million]

Particulars	31.03.2018
Sales Turnover (Approximately)	90.000
	(Due to Market Fluctuation)

Expected Sales (2018-2019): INR 170.000 Million

The above information has been parted by Mr. Suresh Kumar Yenduri (Proprietor)

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	31.03.2016	31.03.2015
EQUITY AND LIABILITIES
1] Proprietors Capital		39.403	34.138	35.496
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		39.403	34.138	35.496
LOAN FUNDS
1] Secured Loans		32.957	30.721	31.613
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		32.957	30.721	31.613
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		72.360	64.859	67.109
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		16.247	13.539	14.342
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.500	0.500	0.500
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.286	2.561	12.458
	Sundry Debtors	21.134	26.967	37.613
	Cash & Bank Balances	7.190	5.533	0.125
	Other Current Assets	16.149	19.962	9.730
	Loans & Advances / Deposit	4.622	0.000	0.000
Total Current Assets		55.381	55.023	59.926
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.102	2.444	11.038
	Other Current Liabilities	0.729	3.789	3.408
	Provisions	0.000	0.000	0.000
Total Current Liabilities		1.831	6.233	14.446
Net Current Assets		53.550	48.790	45.480
MISCELLANEOUS EXPENSES		2.063	2.030	6.787
TOTAL		72.360	64.859	67.109

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	61.151	55.473	24.880
	Other Income	68.385	48.168	29.160
	TOTAL	129.536	103.641	54.040
Less	EXPENSES
	Cost of goods sold	65.318	73.324	12.888
	Direct Expenses	19.719	0.115	15.492
	Administrative Expenses	0.408	0.000	0.000
	Indirect Expenses	9.211	15.083	16.992
	Salaries and Wages	22.002	4.674	0.000
	TOTAL	116.658	93.196	45.372
	PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION	12.878	10.445	8.668
Less	INTEREST	4.231	4.430	4.567
	PROFIT / (LOSS) BEFORE, DEPRECIATION AND AMORTISATION	8.647	6.015	4.101
Less/ Add	DEPRECIATION/ AMORTISATION	1.373	1.082	1.138
	NET PROFIT/ (LOSS)	7.274	4.933	2.963

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	126.15	177.44	551.80
Account Receivables Turnover (Income / Sundry Debtors)	2.89	2.06	0.66
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	6.16	12.17	312.61
Inventory Turnover (Operating Income / Inventories)	2.05	4.08	0.70
Asset Turnover (Operating Income / Net Fixed Assets)	0.79	0.77	0.60

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.47	0.52	0.56
Debt Equity Ratio (Total Liability / Networth)	0.84	0.90	0.89
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.05	0.18	0.41
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.41	0.40	0.40
Interest Coverage Ratio (PBIT / Financial Charges)	3.04	2.36	1.90

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	11.90	8.89	11.91
Return on Total Assets ((PAT / Total Assets) * 100)	%	9.80	6.94	3.63
Return on Investment (ROI) ((PAT / Networth) * 100)	%	18.46	14.45	8.35

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	31.37	9.15	4.62
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	27.94	8.74	3.76
G-Score Ratio Financial (Networth / Total Assets)	0.53	0.48	0.44
G-Score Ratio Debt (Debts / Equity Capital)	0.84	0.90	0.89
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	31.37	9.15	4.62

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	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Proprietors Capital	35.496	34.138	39.403
Reserves & Surplus	0.000	0.000	0.000
Net worth	35.496	34.138	39.403
Secured loan	31.613	30.721	32.957
Unsecured loan	0.000	0.000	0.000
Total borrowings	31.613	30.721	32.957
Debt/Equity ratio	0.891	0.900	0.836

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	24.880	55.473	61.151
		122.962	10.236

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	24.880	55.473	61.151
Profit	2.963	4.933	7.274
	11.91%	8.89%	11.90%

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	--
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	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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last four years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	Yes
29	Profitability for last three 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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

FIXED ASSETS

• Buildings
• Machinery and Plant
• Furniture and Fitting

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 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	PRI
Report Prepared by :	RKI

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--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.