MIRA INFORM REPORT

Report No. :	508868
Report Date :	18.05.2018

IDENTIFICATION DETAILS

Name :	DIALSTAR LABS PRIVATE LIMITED
Registered Office :	14, Subhadra Sadan, 3rd Floor, 58, Gokhale Road (North), Dadar (West), Mumbai – 400028, Maharashtra
Tel. No.:	91-22-41231340
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	16.08.2013
Com. Reg. No.:	11-247040
Capital Investment / Paid-up Capital :	INR 0.100 Million
CIN No.: [Company Identification No.]	U74999MH2013PTC247040
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.]	27AAECD8737G2ZE
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECD8737G
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged into providing consultancy service. [Registered Activity] Subject is engaged into digital marketing. [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 109
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Even though the company was incorporated in the year 2013, the company commenced its commercial operation from July 2017. It is having moderate track record. Subject is engaged in digital marketing. Mr. Gaurav Awasthi (Director/Chief Executive Officer) provided information and also claimed that company has achieved revenue of INR 10.000 million from its first financial year of business operation i.e., FY 2018 (revenue figure could not be verified). As per available financials of 2017, the company has registered some pre-operative expenses which has resulted into accumulated losses. Rating remains constrained on account of company’s limited track record of business operation. However, the rating weakness is partially offset by positive feedback received from its customers i.e., (Kyarate.com), (Catseye technologies), (Evergreen Recycle) for satisfactory services provided. Trade relations are reported as fair. Business is active. Payment terms are seems to be slow but correct. The company can be considered for business dealings with some caution. NOTE: Site visit was conducted at the address corporate office address of the company. Our executive has successfully traced the company at the address. At the premises, our executive met Mr. Gaurav Awasthi (Chief Executive Officer/ Director) who confirmed existence of the company at the given address As per our executive observation, it is a three storey building and company is located on the ground floor of the building. Locality of the premises appears to be commercial, area seems to be upmarket and area of the premises is 1600 (approximately) (sq. ft.). Name board of the company was not sighted at the given premises. Landmark of the area is near “Ramada Hotel” and 15 (approximately) employees were sighted at the premises.

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 18.05.2018

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. Gaurav Awasthi
Designation :	Director / Chief Executive Officer
Contact No.:	91-9920778509
Date :	17.05.2018

LOCATIONS

Registered Office :	14, Subhadra Sadan, 3rd Floor, 58, Gokhale Road (North), Dadar (West), Mumbai – 400028, Maharashtra, India
Tel. No.:	91-22-41231340
Mobile No.:	91-9920778509 (Mr. Gaurav Awasthi)
Fax No.:	Not Available
E-Mail :	accounts@dialstardigital.com gaurav@dialstardigital.com ops@dialstardigital.com
Website :	www.dialstardigital.com
Corporate Office :	Unit No.8, Building No.5, Sector-3, Millennium Business Park, Mahape, Navi Mumbai – 400201, Maharashtra, India
Area :	1600 sq. ft. (At site visit)
Locality :	Commercial (At site visit)

DIRECTORS

AS ON 31.03.2018

Name :

Mr. Deviraja Sharama Shetty

Designation :

Director

Address :

14, Subhadra Sadan, 3rd Floor, 58 Gokhale Road (N), Dadar (West), Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

24.05.1977

Date of Appointment :

16.08.2013

DIN No.:

02256235

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74120MH2010PTC207509	CATSEYE SYSTEMS AND SOLUTIONS PRIVATE LIMITED	20/03/2015	-

Name :

Mr. Rajesh Ramloutan Gupta

Designation :

Director

Address :

Flat No.A/08, Cidco Colony, Sector-04, Airoli, Navi Mumbai – 400708, Maharashtra, India

Date of Birth/Age :

16.01.1986

Date of Appointment :

16.08.2013

DIN No.:

03141855

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74120MH2010PTC207509	CATSEYE SYSTEMS AND SOLUTIONS PRIVATE LIMITED	08/09/2010	-
U93030MH2010PTC211127	EVERGREEN RECYCLEKARO (INDIA) PRIVATE LIMITED	20/12/2010	-
U27209MH2005PTC156626	DESHMUKH LEAD PRIVATE LIMITED	28/05/2016	-

Name :

Mr. Gaurav Awasthi

Designation :

Director / Chief Executive Officer

Address :

638, Roti Godam Sitapur, Sitapur – 261001, Uttar Pradesh, India

Date of Appointment :

02.05.2017

DIN No.:

07240239

KEY EXECUTIVES

Name :	Mr. Sameer Rai
Designation :	Operational Manager
Mobile No.:	91-9137246704
Name :	Mr. Pratik
Designation :	Accounts Manager
Mobile No.:	91-9892309462

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Deviraja Sharama Shetty	5000
Catseye Systems and Solutions Private Limited	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2017

Category	Percentage
Promoters [Individual/Hindu Undivided Family (Indian)]	50.00
Promoters [Bodies corporate]	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged into providing consultancy service. [Registered Activity]

Subject is engaged into digital marketing. [Confirmed by management]

Products / Services :

Name and Description of main products / services	ITC Code
Consultancy Service	99831311

Brand / Operating Name :

Dialstar Digital

Agencies Held :

Not Available

Exports :

Not Applicable

Imports :

Not Applicable

Terms :

Selling :

L/C, Cash and Credit (30 / 60 Days)

Purchasing :

L/C, Cash and Credit (30 / 60 Days)

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesalers, Retailers, End Users

Reference :

Kyarate.com

Name of the Person :

Mr. Ishwara Mishra (Chief Executive Officer)

Contact No.:

91-9029911224

Since How Long Known :

1 year

Maximum Limit Dealt :

Not Divulged

Experience :

Services	Overall
Good	Good

Remark :

They gave us positive response about subject company they are satisfied with their services.

Reference :

Catseye Technology

Name of the Person :

Mr. Suraj Singh (Chief Executive Officer)

Contact No.:

91-9833212320

Since How Long Known :

1.5 years

Maximum Limit Dealt :

Not Divulged

Experience :

Services	Overall
Good	Good

Remark :

They gave us positive response about subject company they are satisfied with their services.

Reference :

Evergreen Recycle

Name of the Person :

Mr. Rupesh (Director)

Contact No.:

91-7738930002

Since How Long Known :

1 years

Maximum Limit Dealt :

Not Divulged

Experience :

Services	Overall
Good	Good

Remark :

They gave us positive response about subject company they are satisfied with their services.

No. of Employees :

15 (Approximately)

Bankers :

Banker Name :	Axis Bank Limited
Branch :	Ground Floor, Technocity IT Park, G-5, Mahape MIDC, Navi Mumbai – 400709, Maharashtra, India
Person Name (With Designation) :	--
Contact Number :	91-22-27780031 / 32
Name of Account Holder :	--
Account Number :	917020040967920
IFSC Code :	UTIB0002458
Swift Code :	AXISINBBA92
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	Company management did not provide relationship manager direct number.

Auditors :
Name :	V.D. Shah and Associates Chartered Accountants
Address :	303, Malad Shopping Center, South Wing, SV Road, Malad (West), Mumbai – 400064, Maharashtra, India
Mobile No.:	91-9920917939
E-Mail :	cavishalshah@gmail.com
PAN No.:	AAAFS6489H
Membership No.:	123337
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	INR 10/- each	INR 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	INR 10/- each	INR 0.100 Million

FINANCIAL DATA

[all figures are in 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	0.100	0.100	0.100
(b) Reserves & Surplus	(0.062)	(0.048)	(0.038)
(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)	0.038	0.052	0.062
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.027	0.018	0.008
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	0.027	0.018	0.008
TOTAL	0.065	0.070	0.070
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)	0.005	0.005	0.005
(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	0.005	0.005	0.005
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.060	0.065	0.065
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	0.060	0.065	0.065
TOTAL	0.065	0.070	0.070

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.000	0.000	0.000
		TOTAL	0.000	0.000	0.000
Less	EXPENSES
		Other Expenses	0.014	0.010	0.008
		TOTAL	0.014	0.010	0.008
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.014)	(0.010)	(0.008)
Less	FINANCIAL EXPENSES		0.000	0.000	0.000
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.014)	(0.010)	(0.008)
Less	DEPRECIATION/ AMORTISATION		0.000	0.000	0.000
	PROFIT/(LOSS) BEFORE TAX		(0.014)	(0.010)	(0.008)
Less	TAX		0.000	0.000	0.000
	PROFIT/(LOSS) AFTER TAX		(0.014)	(0.010)	(0.008)
	Earnings / (Loss) Per Share (INR)		(1.62)	(2.10)	(3.00)

Particulars	31.03.2018
Sales Turnover (Approximately)	10.000

The above information has been parted by Mr. Gaurav Awasthi (Director/Chief Executive Officer)

ADVERTISING PROMOTIONAL EXPENSES

Years	INR in Million
2016-2017	NA
2015-2016	NA
2014-2015	NA

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 Days)	0.00	0.00	0.00
Account Receivables Turnover (Income / Sundry Debtors)	0.00	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	0.00	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)	0.42	0.26	0.11
Debt Equity Ratio (Total Liability / Networth)	0.00	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.71	0.35	0.13
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
PAT to Sales ((PAT / Sales) * 100)	%	0.00	0.00	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	(21.54)	(14.29)	(11.43)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(36.84)	(19.23)	(12.90)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	2.22	3.61	8.13
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	2.22	3.61	8.13
G-Score Ratio Financial (Networth / Total Assets)	0.58	0.74	0.89
G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.22	3.61	8.13

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
Share Capital	0.100	0.100	0.100
Reserves & Surplus	(0.038)	(0.048)	(0.062)
Net worth	0.062	0.052	0.038
Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	Yes
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	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	No
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

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY

OBSERVATION POINTS

Name of Company :	DIALSTAR LABS PRIVATE LIMITED
Address :	Unit No.8, Building No.5, Sector-3, Millennium Business Park, Mahape, Navi Mumbai – 400201, Maharashtra, India
Mobile No.:	91-9920778509
E-Mail :	gaurav@dialstardigital.com
Person to whom we met:	Mr. Gaurav Awasthi Designation : Director / Chief Executive Officer
Name Board :	Not Sighted
Location:	Easy
Landmark (If Any):	Near Ramada Hotel (Millennium Business Park)
Total Floors of the building:	3 Floor
Subject situated on:	Ground Floor
Locality:	Commercial
Area of premises :	1600 sq. ft.
Area :	Upmarket
No. of employees seen at premises:	15
Visibility of Items :	· Telephone · Fax Machine · Computers · Air Conditioners · Office Equipment · Xerox Machine
Furniture Items sighted :	Yes
Proof of visit:	Photograph / Visiting Card

PICTURES

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 67.72
UK Pound	1	INR 91.65
Euro	1	INR 79.89

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	NKT

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.