MIRA INFORM REPORT

Report No. :	507487
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	SHREE MADHAV ELECTRICALS
Registered Office :	C-86/3, Street No- 2, Near Post Office, Bhajanpura, New-Delhi - 110053
Mobile No.:	91-9968051504 (Mr. Sudhanshu Garg)
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	2009
Capital Investment / Paid-up Capital :	INR 8.947 Million
IEC No.: [Import-Export Code No.]	Not Applicable (As informed by the management that firm does not have export and import)
TIN No.:	07470366922
GSTIN : [Goods & Service Tax Registration No.]	07AMHPG5450D1ZD
PAN No.: [Permanent Account No.]	AMHPG5450D
Legal Form :	Sole Proprietary Concern
Line of Business :	Dealer and Distributor of Electrical Goods and Switches. (Confirmed by management)
No. of Employees :	09 (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 25000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a proprietorship concern established in the year 2009 and it is a dealer and distributor of electrical goods and switches. As per financials of March 2017, the subject has achieved a decent sales turnover of INR 12.760 million and has reported average profit margin of 2.51%. Rating takes into consideration the subject’s satisfactory track record of business operations along with comfortable capital base and low solvency indicators. Payments seems to be usually correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. (Note: Site visit report will be sent in supplementary.)

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 (GENERAL DETAILS)

Name :	Mr. Shudhanshu Garg
Designation :	Proprietor
Contact No.:	91-9968051504
Date :	05.05.2018

LOCATIONS

Registered Office/ Warehouse :	C-86/3, Street No- 2, Near Post Office, Bhajanpura, New-Delhi – 110053, India
Tel. No.:	91-11- 22173733
Mobile No.:	91-9968051504/ 9311116766 (Mr. Shudhanshu Garg)
Fax No.:	Not Available
E-Mail :	madhavajantaelec@gmail.com
Location :	Owned
Locality :	Residential cum commercial

SOLE PROPRIETOR

Name :	Mr. Sudhanshu Garg
Designation :	Proprietor
Date of Birth/Age :	01.09.1986
Qualification :	Graduate
Experience :	15 Years
Aadhaar No :	532111182473

BUSINESS DETAILS

Line of Business :	Dealer and Distributor of Electrical Goods and Switches. (Confirmed by management)
Products :	Electrical Goods and Switches
Brand Names :	Not Available
Agencies Held :	Anchor Orient
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Credit (30-35 Days)
Purchasing :	Credit (30-35 Days)

GENERAL INFORMATION

Suppliers :

Reference :	Anchor
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

• Orient

Customers :

Wholesalers

Reference :	Laxmi Lamp House
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

09 (Approximately)

Bankers :

Banker Name :	DCB Bank Limited
Branch :	Bhajanpura, Delhi – 110053, India
Person Name (With Designation) :	--
Contact Number :	18002095363 (Customer Care)

Banker Name :		Punjab National Bank
Branch :		Pt yard Ram Secondary School, Delhi – 110001, India
Person Name (With Designation) :		Mr. Anuj (Branch Manager)
Contact Number :		91-11-22856468 (Customer Care)
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 :	Mr. Anuj (Branch Manager) denied to provide information

Facilities :

Secured Loan	31.03.2017 (INR in Million)
Car loan from HDFC Bank	0.137
Car loan from ICICI Bank	0.129
Total	0.266

Auditors :
Name :	Jain Vikas and Associates Chartered Accountants
Address :	New Delhi, India
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	--

CAPITAL STRUCTURE

AS ON 31.03.2017

SUDHANSHU GARG CAPITAL ACCOUNT

(INR in Million)

Particulars	Amount
Capital Account	7.022
Add : PNB Interest	0.001
Net Profit	3.198
Total (A)	10.221
Less : Cash Drawing	0.490
Other Drawing	0.051
Life Insurance	0.136
Income Tax Paid	0.497
Advance Tax paid	0.100
Total (B)	1.274
Total (A-B)	8.947

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
EQUITY AND LIABILITIES
1] Proprietor’s Capital		8.947
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		8.947
LOAN FUNDS
1] Secured Loans		0.266
2] Unsecured Loans		13.554
TOTAL BORROWING		13.820
DEFERRED TAX LIABILITIES		0.000
TOTAL		22.767
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.923
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.590
	Sundry Debtors	35.659
	Cash & Bank Balances	0.683
	Other Current Assets	0.000
	Loans & Advances and Deposits	2.601
Total Current Assets		51.533
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	29.652
	Other Current Liabilities and Provisions	0.037
Total Current Liabilities		29.689
Net Current Assets		21.844
MISCELLANEOUS EXPENSES		0.000
TOTAL		22.767

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	127.554
	Other Income	0.265
	TOTAL	127.819
Less	EXPENSES
	Cost of goods sold	118.182
	Cartage Expenses	0.257
	Accounting Charges	0.024
	Audit Fee	0.029
	Bonus Expenses	0.113
	Business Promotion	0.071
	Car Hire Charges	0.330
	Commission Paid	0.610
	Conveyance and Fuel Expenses	0.398
	Electricity and Water Expenses	0.047
	Festival Expenses	0.042
	Godown rent	0.360
	Legal Expenses	0.025
	Office Expenses	0.050
	Postage and Courier Expenses	0.030
	Printing and Stationery Expenses	0.054
	Salary Expenses	2.942
	Shop Rent	0.180
	Staff Welfare Expenses	0.261
	Telephone and Mobile Expenses	0.036
	Tour and Travelling Expenses	0.088
	TOTAL	124.129
	PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION	3.690
Less	FINANCIAL EXPENSES	0.330
	PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION	3.360
Less	DEPRECIATION/ AMORTISATION	0.161
	NET PROFIT/ (LOSS) FOR THE YEAR	3.199

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	102.04
Account Receivables Turnover (Income / Sundry Debtors)	3.58
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	91.58
Inventory Turnover (Operating Income / Inventories)	0.29
Asset Turnover (Operating Income / Net Fixed Assets)	4.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.83
Debt Equity Ratio (Total Liability / Networth)	1.54
Current Liabilities to Networth (Current Liabilities / Net Worth)	4.83
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.10
Interest Coverage Ratio (PBIT / Financial Charges)	11.18

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	2.51
Return on Total Assets ((PAT / Total Assets) * 100)	%	6.10
Return on Investment (ROI) ((PAT / Networth) * 100)	%	35.76

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.19
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.90
G-Score Ratio Financial (Networth / Total Assets)	0.17
G-Score Ratio Debt (Debts / Equity Capital)	1.54
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.19

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	--
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/ Age 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	No
18	Major suppliers	Yes
19	Major customers	Yes
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	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

UNSECURED LOAN

PARTICULARS	31.03.2017 (INR in Million)
Unsecured Loan	13.554
Total	13.554

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 67.22
UK Pound	1	INR 90.87
Euro	1	INR 80.08

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	VIV
Report Prepared by :	TRUP

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	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.