MIRA INFORM REPORT

Report No. :	509463
Report Date :	17.05.2018

IDENTIFICATION DETAILS

Name :	CHOUDHARY UDHYOG
Registered Office :	36-37, Alfazal Estate, B/H B R T S Work Shop, Narol Chandola Road, Ahmedabad- 382405, Gujarat
Mobile No.:	91-9825024712 (Mr. Hakim Choudhary)
Country :	India
Financials (as on) :	31.03.2018 (Provisional)
Year of Establishment :	May 2017
Capital Investment / Paid-up Capital :	INR 0.640 Million
IEC No.: [Import-Export Code No.]	Not Applicable (As informed by the management that firm does not have export and import)
GSTN : [Goods & Service Tax Registration No.]	24BACPC5318Q1ZO
TIN No.:	Not Divulged
PAN No.: [Permanent Account No.]	BACPC5318Q
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturer of building material like steel scaffolding adjustable telescopic spares and adjustable telescopic, staging materials and scaffolding accessories and scaffolding equipment etc. [Confirmed by management]
No. of Employees :	20 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

NB

Credit Rating	Explanation	Rating Comments
NB	New Business	No recommendation can be done due to business in infancy stage

Status :	New Business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new proprietorship concern established in May, 2017. It is a manufacturer of Building Material like Steel Scaffolding, Adjustable Telescopic Spars and Adjustable Telescopic, Staging Materials and Scaffolding Accessories and Scaffolding Equipments. Mr. Hakim Choudhary (CEO) has provided information about the subject to us. As per the provisional financials of FY 2018, the concern achieved revenue of INR 35.120 million along with an average profit margin of 1.40%. The moderate financial profile of the subject is marked by small capital base along with debt free balance sheet profile. Payment seems to be unknown. In view of subject’s infancy dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

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 17.05.2018

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. Hakim Choudhary
Designation :	Chief executive Officer
Contact No.:	91-9825024712
Date :	15.05.2018

LOCATIONS

Registered Office / Factory:	36-37, Alfazal Estate, B/H B R T S Work Shop, Narol Chandola Road, Ahmedabad- 382405, Gujarat, India
Tel. No.:	91-79-25625014
Mobile No.:	91-9825024712 (Mr. Hakim Choudhary) 91-9099924712 (Mr. Yusuf)
Fax No.:	Not Available
E-Mail :	choudharyudhyog@gmail.com
Website :	www.choudharyudhyog.com
Area :	5400 Sq. Ft
Location :	Owned
Locality :	Industrial

SOLE PROPRIETOR

Name :	Mr. Mohammedismail Abdulhakeem Choudhary
Designation :	Proprietor
Date of Birth/Age :	25 Years
Qualification :	HSC
Experience :	5 Years

KEY EXECUTIVES

Name :	Mr. Hakim Choudhary
Designation :	Chief executive Officer

BUSINESS DETAILS

Line of Business :	Manufacturer of building material like steel scaffolding adjustable telescopic spares and adjustable telescopic, staging materials and scaffolding accessories and scaffolding equipment etc. [Confirmed by management]
Products :	Steel scaffolding adjustable telescopic spares Adjustable telescopic Staging materials Scaffolding accessories Scaffolding equipment
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash, Advance Payment, Credit and Others (RTGS) (30 Days)
Purchasing :	Cheque, Credit and Others (RTGS) (30 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 :

20 (Approximately)

Bankers :

Banker Name :	Axis bank
Branch :	Narol, Ahmedabad – 382405, Gujarat, India
Person Name (With Designation) :	--
Contact Number :	91-79-29294900 (Continuously ringing)
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 :	Sandeep Kokri and Associates Chartered Accountants
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	Choudhary Steel Address: 22 Nagore Estate, Opposite Vimal Hospital, Jogeshwari Road, Ahmedabad – 382401, Gujarat, India Line of business: Manufacturer of steel props.

CAPITAL STRUCTURE

AS ON 31.03.2018 (Provisional)

Capital Investment :
Owned :	INR 0.640 Million
Borrowed :	--
Total :	INR 0.640 Million

FINANCIAL DATA

[all figures are INR Million]

Expected Sales (2018-2019): INR 40.000 Million (Due to business growth)

The above information has been parted by Mr. Hakim Choudhary (Chief executive Officer)

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		31.03.2018 (Provisional)
EQUITY AND LIABILITIES
1] Share Capital		0.640
3] Reserves & Surplus		0.000
4] Profit and Loss		0.492
NETWORTH		1.132
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.132
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.293
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.187
	Sundry Debtors	1.359
	Cash & Bank Balances	1.212
	Other Current Assets	0.000
	Loans & Advances	0.045
Total Current Assets		6.803
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.914
	Other Current Liabilities	0.050
	Provisions	0.000
Total Current Liabilities		5.964
Net Current Assets		0.839
MISCELLANEOUS EXPENSES		0.000
TOTAL		1.132

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2018 (Provisional)
	SALES
	Income	35.120
	Other Income	0.000
	TOTAL	35.120
Less	EXPENSES
	Purchases	38.037
	Closing Stock	(4.186)
	GST Expenses	0.073
	GST Penalty Expenses	0.003
	Insurance Expenses	0.002
	Internet Expenses	0.059
	Kasar A/c	(0.012)
	Municipal Expenses	0.031
	Office Expenses	0.015
	Petrol Expenses	0.026
	Professional Fee Expenses	0.005
	Salary Expenses	0.360
	Telephone Bill Expenses	0.004
	Torrent power Limited	0.177
	Transport Expenses	0.030
	Vehicle Expenses	0.002
	TOTAL	34.626
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.494
Less	FINANCIAL EXPENSES	0.002
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.492
Less/ Add	DEPRECIATION/ AMORTISATION
	PROFIT/ (LOSS) BEFORE TAX	0.492

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2018 (Provisional)
Average Collection Days (Sundry Debtors / Income * 365 Days)	14.12
Account Receivables Turnover (Income / Sundry Debtors)	25.84
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	56.75
Inventory Turnover (Operating Income / Inventories)	0.12
Asset Turnover (Operating Income / Net Fixed Assets)	1.69

LEVERAGE RATIOS

PARTICULARS	31.03.2018 (Provisional)
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.84
Debt Equity Ratio (Total Liability / Networth)	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	5.27
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.26
Interest Coverage Ratio (PBIT / Financial Charges)	247.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2018 (Provisional)
Net Profit Margin ((PAT / Sales) * 100)	%	1.40
Return on Total Assets ((PAT / Total Assets) * 100)	%	6.93
Return on Investment (ROI) ((PAT / Networth) * 100)	%	43.46

SOLVENCY RATIOS

PARTICULARS	31.03.2018 (Provisional)
Current Ratio (Current Assets / Current Liabilities)	1.14
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.44
G-Score Ratio Financial (Networth / Total Assets)	0.16
G-Score Ratio Debt (Debts / Equity Capital)	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.14

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	No
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	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	Yes
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	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last about one year	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	Yes
29	Profitability for last about 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

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 67.53
UK Pound	1	INR 91.49
Euro	1	INR 80.53

INFORMATION DETAILS

Information Gathered by :	PNM
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.