MIRA INFORM REPORT

Report No. :	508680
Report Date :	21.05.2018

IDENTIFICATION DETAILS

Name :	DHOLIA STEEL
Registered Office :	Plot No 87, VIP Park, Moti Talav Road, Kumbharwada, Bhavnagar-364006, Gujarat
Mobile No.:	91-9879504800 [Mr. Muzammil R. Dholia]
Country :	India
Financials (as on) :	31.03.2018 [Provisional]
Year of Establishment :	2014
Capital Investment :	INR 4.707 Million
IEC No.: [Import-Export Code No.]	Not Divulged
TIN No.:	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	24AAKED5172G1ZI
PAN No.: [Permanent Account No.]	AAKED5172G
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Trader and Supplier of SS Steel Pipes. [Confirmed by Management]
No. of Employees :	01 [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

Status :	Recently commenced its business operation
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a partnership firm established in the year 2014 and it is a trader and supplier of SS Steel pipes. Mr. Muzammil R. Dholia (Partner) had provided general information and he claimed that the subject has commenced its business operations from July 2017. As per provisional sfinancials of March 2018, the subject has achieved a sales turnover of INR 50.04 million and has reported minimal profit margin of 0.42%. Rating takes into consideration the subject’s short track record of business operations along with average capital base and below average liquidity position. Payment seems to be slow but correct. In view of aforesaid, the subject can be considered for business dealings with some caution. NOTE: Site visit was conducted at the given address which you have provided. Our executive has successfully traced the subject at the given address. At the premises, our executive met Mr. Muzammil Dholia (Partner) and he provided with contact details (09879504800). As per our executive’s observation, it is shed type and area of the premises is 5,000 SQ FT. Location was easy to find and locality seems to be industrial. Area seems to be neutral and 1 employee was sighted at the premises. Name board of the subject was 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 21.05.2018

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. Muzammil R Dholia
Designation :	Partner
Contact No.:	91-9879504800
Date :	18.05.2018

LOCATIONS

Registered Office/ Warehouse :	Plot No 87, VIP Park, Moti Talav Road, Kumbharwada, Bhavnagar-364006, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9879504800 [Mr. Muzammil R Dholia]
Fax No.:	Not Available
E-Mail :	dholiasteel@gmail.com
Area:	5000 Sq. Ft. [As per site visit]
Location :	Owned
Locality :	Industrial

PARTNERS

Name :	Mr. Muzammil R Dholia
Designation :	Partner
Name :	Mr. Ashifbhai Pithadiya
Designation :	Partner

BUSINESS DETAILS

Line of Business :	Trader and Supplier of SS Steel Pipes. [Confirmed by Management]
Products/ Services :	SS Steel Pipes
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Advance Payment, L/C, Cheque and Others [RTGS]
Purchasing :	Advance Payment, L/C, Cheque and Others [RTGS]

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Retailers and End Users

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

01 [Approximately]

Bankers :

Bank Name:	State Bank of India
Branch:	8/A, Waghawadi Road, Hill Drive, Bhavnagar-364002, Gujarat, India
Person Name (with Designation):	--
Contact Number:	91-278-2445682 [Continuously ringing]
Name of Account Holder:	--
Account Number:	--
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	--

Auditors :
Name :	Mr. Kalpesh Waghela Chartered Accountant
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON: 31.03.2018 [PROVISIONAL]

Particulars	INR in Million
PARTNERS’ CAPITAL
Ashifbhai Pithadiya	1.592
Muzammil Dholia	3.115
Total	4.707

FINANCIAL ANALYSIS

[all figures are in INR Million]

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]
SHAREHOLDERS FUNDS
1] Partners Capital		4.707
2] Profit/ Loss Account		0.209
NETWORTH		4.916
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		4.916
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.020
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.013
	Sundry Debtors	14.735
	Cash & Bank Balances	0.988
	Other Current Assets	0.002
	Loans, Advances and Deposits	1.103
Total Current Assets		20.841
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	15.935
	Other Current Liabilities and Provisions	0.010
Total Current Liabilities		15.945
Net Current Assets		4.896
MISCELLANEOUS EXPENSES		0.000
TOTAL		4.916

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2018 [Provisional]
	SALES
		Sales	50.037
		Other Income	0.007
		TOTAL	50.044
Less	EXPENSES
	Cost of Goods Sold		47.887
		Manufacturing expense	0.000
		Remuneration to partners	0.538
		Salary expense	0.090
		Electric bill expense	0.012
		Hotel and Accommodations expenses	0.076
		Fright and transportation expenses on	0.812
		Petrol and Diesel expenses	0.007
		Testing Material expenses	0.005
		Travelling expenses	0.170
	TOTAL		49.597
	PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION		0.447
Less	FINANCIAL EXPENSES		0.238
	PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION		0.209
Less	DEPRECIATION/ AMORTISATION		0.000
	NET PROFIT FOR THE PERIOD		0.209

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2018 [Provisional]
Average Collection Days (Sundry Debtors / Income * 365 Days)	107.49
Account Receivables Turnover (Income / Sundry Debtors)	3.40
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	121.46
Inventory Turnover (Operating Income / Inventories)	0.11
Asset Turnover (Operating Income / Net Fixed Assets)	22.35

LEVERAGE RATIOS

PARTICULARS	31.03.2018 [Provisional]
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.76
Debt Equity Ratio (Total Liability / Networth)	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.24
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00
Interest Coverage Ratio (PBIT / Financial Charges)	1.88

PROFITABILITY RATIOS

PARTICULARS		31.03.2018 [Provisional]
Net Profit Margin ((PAT / Sales) * 100)	%	0.42
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.00
Return on Investment (ROI) ((PAT / Networth) * 100)	%	4.25

SOLVENCY RATIOS

PARTICULARS	31.03.2018 [Provisional]
Current Ratio (Current Assets / Current Liabilities)	1.31
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.06
G-Score Ratio Financial (Networth / Total Assets)	0.24
G-Score Ratio Debt (Debts / Equity Capital)	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.31

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 [As per site visit]	Yes
5	Buyer visit details	Yes
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	Yes
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 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

OBSERVATION POINTS

Name of Company :	DHOLIA STEEL
Address :	Plot No 87, VIP Park Moti Talav Road, Kumbharwada, Bhavnagar-364006, Gujarat, India
Contact No.:	91-9879504800
Date of Visit :	17.05.2018
Person to whom we met:	Mr. Muzammil R Dholia [Partner]
Name Board :	Sighted
Location:	Easy
Total Floors of the Building :	Shed Type Premises
Subject situated on:	Shed Type Premises
Locality:	Industrial
Area of Premises:	5000 Sq. Ft.
Area :	Neutral
No. of employees seen at premises:	01
Proof of visit:	Photos and Visiting Card

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	Indian Rupees
US Dollar	1	INR 67.96
UK Pound	1	INR 91.88
Euro	1	INR 80.28

INFORMATION DETAILS

Information Gathered by :	RUB
Analysis Done by :	VIV
Report Prepared by :	RUP

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.

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