MIRA INFORM REPORT

Report No. :	506477.2
Report Date :	17.05.2018

IDENTIFICATION DETAILS

Name :	ORBIT MULTITECH PRIVATE LIMITED
Registered Office :	Site No 5 and 6, Old HL Nos 1072/1073, Khata Number 348, CMC, Khata No 125 and 126, Opposite Vinayaka Nagar, Bhattarbali, Hobli, Bangalore-560049, Karnataka
Tel. No.:	91-22-28710183
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	11.10.2000
Com. Reg. No.:	08-027940
Capital Investment / Paid-up Capital :	INR 0.640 Million
CIN No.: [Company Identification No.]	U72900KA2000PTC027940
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.]	27AAACO4333M1ZB
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACO4333M
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, dealer and distributor of fabrics, iron and steel, electrical products, chemicals products, ferrous and non-ferrous metal items, industrial products and agro commodities. [Confirmed by management]
No. of Employees :	15 (Approximately)

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Maximum Credit Limit :	USD 2000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2000 and it is having moderate track records. It is engaged as trader, dealer and distributor of fabrics, iron and steel, electrical products, chemicals products, ferrous and non-ferrous metal items, industrial products and agro commodities For the financial year 2017, the company has achieved healthy revenue from operation but reported minimal profitability margin of 0.35%. Rating takes into consideration company’s moderate financial risk profile marked by low reserves position. Further, rating constrained on account of the limited track records of business, excess of borrowings recorded and intense competition from industry. However, theses rating weakness gets partially offset by its long standing experience of its promoters. Trade relations are reported as fair. Business is active. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing with some caution.

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. Hemant Gala
Designation :	Chief Financial Officer
Contact No.:	91-8850983550
Date :	27.04.2018

LOCATIONS

Registered Office :	Site No 5 and 6, Old HL Nos 1072/1073, Khata Number 348, CMC, Khata No 125 and 126, Opposite Vinayaka Nagar, Bhattarbali, Hobli, Bangalore-560049, Karnataka, India
Tel. No.:	Not Available
Mobile No.:	91-8850983550 (Mr. Hemant Gala)
Fax No.:	Not Available
E-Mail :	orbitmultitech203@gmail.com finance@ineshgroup.com
Location :	Rented
Locality :	Commercial
Branch Office :	Office No.A-404, 4th Floor, CTS No. 1652/A, Main Frame Premise Co-Operative Society Limited, Aarey Milk Colony, Royal Palms, Goregaon (East), Mumbai-400065, Maharashtra, India
Tel. No.:	91-22-28710183
Location :	Rented
Godown :	Plot No-494, Sector-KWC Steel Market, Kalamboli, Navi Mumbai, Maharashtra, India
E-Mail :	finance@ineshgroup.com
Location :	Rented

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Rajiv Ranjan

Designation :

Additional Director

Address :

No 48, C.S.B Layout, Kasavanahalli Second Floor, Bangalore-560037, Karnataka, India

Date of Birth/Age :

22.12.1983

Qualification :

B.Com

Experience :

5 Years

Date of Appointment :

14.01.2017

DIN No.:

07362209

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27100MH2013PLC242759	INESH ACCERRO LIMITED	21/12/2015	-
U52609MH2017PTC293975	GARAMOND TRADING PRIVATE LIMITED	10/10/2017	-

Name :

Mr. Bipin Jha

Designation :

Additional Director

Address :

Room No.10, Savitri Sadan, Jai Jivdani Darshan Chawl, Jivdani Cross Road, Vasai, Thane-401305, Maharashtra, India

Date of Birth/Age :

17.03.1986

Qualification :

B.Com

Experience :

5 Years

Date of Appointment :

14.01.2017

DIN No.:

07655150

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27100MH2013PLC242759	INESH ACCERRO LIMITED	27/06/2017	-
U52609MH2017PTC293975	GARAMOND TRADING PRIVATE LIMITED	10/10/2017	-

KEY EXECUTIVES

Name :	Mr. Hemant Gala
Designation :	Chief Financial Officer

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares	% of Holding
Rajiv Ranjan	32000	50.00
Bipin Jha	32000	50.00
Total	64000	100.00

AS ON 30.09.2016

Equity Share Break up	Percentage
Category
Promoters - Individual/Hindu Undivided Family – Indian	32.81
Public/Other than promoters - Individual/Hindu Undivided Family – Indian	67.19
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, dealer and distributor of fabrics, iron and steel, electrical products, chemicals products, ferrous and non-ferrous metal items, industrial products and agro commodities. [Confirmed by management]
Brand Names :	Not Available
Agencies Held :	JSW Steel
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	L/C and Credit (30, 60 Days)
Purchasing :	L/C and Credit (30, 60 Days)

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference :

Oneworld Creation Private Limited

Name of the Person :

Ms. Savita Vishwakarma (Senior Account Manager)

Contact No.:

91-22-43533400

Since How Long Known :

1 Year

Maximum Limit Dealt :

As per requirement

Experience :

Payment Behaviour	Market Goodwill	Overall
Good	Good	Good

Remark :

They are satisfied with subject payment behavior, company management is good.

Reference :

Worsted Overseas Trading LLP

Name of the Person :

Ms. Savita Vishwakarma

Contact No.:

91-22-43533400

Since How Long Known :

1 Year

Maximum Limit Dealt :

As per requirement

Experience :

Payment Behaviour	Market Goodwill	Overall
Good	Good	Good

Remark :

They are satisfied with subject payment behavior company management is good.

Customers :

Wholesalers, Retailers, End Users and OEM’s

Reference :	Aquaries Multiventures Private Limited
Name of the Person :	Mr. Vickaash Agarwal
Contact No.:	91-9980730991
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	--

Reference :

Tertiary Trading Private Limited

Name of the Person :

Mr. Santosh Samla (Chief Financial Officer)

Contact No.:

91-9619178173

Since How Long Known :

1 Year

Maximum Limit Dealt :

As per requirement

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Remark :

Product quality is good, delivered product on time

No. of Employees :

15 (Approximately)

Bankers :

Bank Name	Kotak Mahindra Bank Limited
Branch	C-12, G Block, BKC, Bandra (East), Mumbai – 400051, Maharashtra, India
Person Name (With Designation)	--
Contact Number	91-9820845874 (Switch off) 91-22-33095000 / 33095061 (Ringing)
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 :	Mukesh M Choksi and Company Chartered Accountants
Address :	101, Mickeys Heritage, 7th Golibar Road, Above HDFC Bank, Santacruz (East), Mumbai, Maharashtra, India
Tel. No.:	91-22-26150520
E-Mail :	happymorning22@yahoo.co.in
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	INR 10/- each	INR 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
64000	Equity Shares	INR 10/- each	INR 0.640 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.640	0.640	0.640
(b) Reserves & Surplus	0.059	(0.897)	(0.869)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	0.699	(0.257)	(0.229)
(3) Non-Current Liabilities
(a) long-term borrowings	41.500	0.234	0.234
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	41.500	0.234	0.234
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	11.082	0.044	0.038
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	0.314	0.018	0.000
Total Current Liabilities (4)	11.396	0.062	0.038
TOTAL	53.595	0.039	0.043
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.000	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2.080	0.000	0.000
(c) Trade receivables	41.889	0.000	0.000
(d) Cash and cash equivalents	0.101	0.039	0.043
(e) Short-term loans and advances	9.525	0.000	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	53.595	0.039	0.043
TOTAL	53.595	0.039	0.043

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	270.269	0.000	0.000
	Other Income	0.000	0.000	0.000
	TOTAL	270.269	0.000	0.000
Less	EXPENSES
	Purchase cost	269.670	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2.080)	0.000	0.000
	Employees benefits expense	0.825	0.000	0.000
	Other expenses	0.898	0.027	0.025
	TOTAL	269.313	0.027	0.025
	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.956	(0.027)	(0.025)
Less	FINANCIAL EXPENSES	0.000	0.001	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.956	(0.028)	(0.025)
Less	DEPRECIATION/ AMORTISATION	0.000	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX	0.956	(0.028)	(0.025)
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	0.956	(0.028)	(0.025)
	Earnings / (Loss) Per Share (INR)	14.94	(0.43)	(0.40)

Particulars	31.03.2018
Sales Turnover (Approximately)	270.000

The above information has been parted by Mr. Hemant Gala (Chief Financial Officer)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operations	NA	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365)	56.57	0.00	0.00
Account Receivables Turnover (Income / Sunday Debtors)	6.45	0.00	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	0.46	0.00	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	0.00	0.00	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.99	7.59	6.33
Debt Equity Ratio (Total Liability / Networth)	59.37	(0.91)	(1.02)
Current Liabilities to Networth (Current Liabilities / Net Worth)	16.30	(0.24)	(0.17)
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00	0.00	0.00
Interest Coverage Ratio (PBIT / Financial Charges)	0.00	0.00	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	%	0.35	0.00	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.78	(71.79)	(58.14)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	136.77	10.89	10.92

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	4.70	0.63	1.13
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	4.52	0.63	1.13
G-Score Ratio Financial (Networth / Total Assets)	0.01	(6.59)	(5.33)
G-Score Ratio Debt (Debts / Equity Capital)	64.84	0.37	0.37
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	4.70	0.63	1.13

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

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	0.640	0.640	0.640
Reserves & Surplus	(0.869)	(0.897)	0.059
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(0.229)	(0.257)	0.699
long-term borrowings	0.234	0.234	41.500
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.234	0.234	41.500
Debt/Equity ratio	(1.022)	(0.911)	59.371

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	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	Yes
19	Major customers	Yes
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	Yes
26	Turnover of firm for last four years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOANS:

PARTICULAR	31.03.2017 INR In Million	31.03.2016 INR In Million
Long-term Borrowings
Unsecured/ Quasi Capital	41.500	0.00
Unsecured loans	0.000	0.234
Total	41.500	0.234

INDEX OF CHARGE: NO CHARGES EXISTS FOR COMPANY

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 67.83
UK Pound	1	INR 91.68
Euro	1	INR 80.29

INFORMATION DETAILS

Information Gathered by :	SHA
Analysis Done by :	NIS
Report Prepared by :	BHG

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.