MIRA INFORM REPORT

Report No. :	507311
Report Date :	19.05.2018

IDENTIFICATION DETAILS

Name :	SHREE GOPAL STORES
Registered Office :	C.A. Road, Lal Imli Chowk, Gandhibaug, Nagpur – 440002, Maharashtra
Mobile No.:	91-9373108314/ 9326265100 [Mr. Govind Parari]
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	1962
Capital Investment :	INR 4.644 Million
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
TIN No.:	Not Divulged
PAN No.: [Permanent Account No.]	Not Divulged
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Dealer of Electrical Goods. [From Indirect Sources]
No. of Employees :	10 [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 13200 [INR 897402.00]
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Mr. Govind Parari (Designation not divulged) has denied providing any information. As per the indirect sources we found that the subject is a partnership concern established in the year 1962. It is a dealer of electrical goods. The concern has achieved sales turnover of INR 182.16 million for the financial year 2017. Rating is constrained on account of high debt balance sheet profile. Payment seems to be slow. In view of aforesaid, the concern can be considered for business dealings with some caution. NOTE 1: Site visit was conducted at the address which you have provided and our executive has successfully traced the subject on the given address. At the premises our executive met one of the employee (Name not divulged) who claimed that the subject exist on the given address. During the visit our executive inquired with the neighbour companies- Ellen Pipes and Shyam Mill Stores and they confirmed the subject’s existence on the given address. As per our executive’s observation, it is a 3 storey building and subject is situated on the ground floor of the building. Location was easy to find. Locality appears to be commercial. Area seems to be upmarket. Approx. 2 employees were sighted at the given address. Name board of the subject was sighted at the given address. NOTE 2: As Profit and Loss Statement is not available, ratios related to the same could not be calculated.

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 19.05.2018.

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 DECLINED BY

Name :	Mr. Govind Parari
Designation :	Not Divulged
Contact No.:	91-9373108314/ 9326265100
Date :	18.05.2018

MANAGEMENT NON-COOPERATIVE

[Contact No: 91-712-2777706/ 2762193]

LOCATIONS

Registered Office :	C.A. Road, Lal Imli Chowk, Gandhibaug, Nagpur – 440002, Maharashtra, India
Tel. No.:	91-712-2777706/ 2762193
Mobile No.:	91-9373108314/ 9326265100 [Mr. Govind Parari]
Fax No.:	Not Available
E-Mail :	1962sgs@gmail.com
Locality :	Commercial [As per site visit]

PARTNERS

NOT DIVULGED

BUSINESS DETAILS

Line of Business :	Dealer of Electrical Goods. [From Indirect Sources]
Products/ Services :	Electrical Goods
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

10 [Approximately]

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Person Name (with Designation):	--
Contact Number:	--
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 :	Agrawal and Kedia Chartered Accountants
Address :	Nagpur, Maharashtra, India
Membership No:	039747
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

AS ON 31.03.2017

Capital Investment :
Owned :	INR 4.644 Million
Borrowed :	---
Total :	INR 4.644 Million

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			31.03.2017
SHAREHOLDERS FUNDS
1] Capital Account			4.644
2] Reserves & Surplus			0.000
NETWORTH			4.644
LOAN FUNDS
1] Secured Loans			33.020
2] Unsecured Loans			26.037
TOTAL BORROWING			59.057
DEFERRED TAX LIABILITIES			0.000
TOTAL			63.701
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]			2.071
Capital work-in-progress			0.000
INVESTMENT			0.125
DEFERREX TAX ASSETS			0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories		28.945
	Sundry Debtors		71.839
	Cash & Bank Balances		0.445
	Other Current Assets		0.000
	Loans & Advances		1.289
Total Current Assets			102.518
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities
	Provisions
Total Current Liabilities			41.013
Net Current Assets			61.505
MISCELLANEOUS EXPENSES			0.000
TOTAL			63.701

TRADING ACCOUNT

PARTICULARS		INR IN MILLION	PARTICULARS		INR IN MILLION
Opening Stock		28.776	Sales	183.294
Purchases	186.795		Less: Sales Return	1.129	182.165
Less: Goods Return	0.206			-----------
Replacement	0.185		Discounts and Scheme		8.986
Rate Difference	0.036	186.367
	-----------		Closing Stock		28.945
Freight and Insurance		0.020
Gross Profit C/d		4.933
		-----------			-----------
Total		220.095	Total		220.095

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	143.94
Account Receivables Turnover (Income / Sundry Debtors)	2.54
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00
Inventory Turnover (Operating Income / Inventories)	0.17
Asset Turnover (Operating Income / Net Fixed Assets)	2.39

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.96
Debt Equity Ratio (Total Liability / Networth)	12.72
Current Liabilities to Networth (Current Liabilities / Net Worth)	14.44
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.45

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.53
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.10
G-Score Ratio Financial (Networth / Total Assets)	0.04
G-Score Ratio Debt (Debts / Equity Capital)	12.72
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.53

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	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	No
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 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 :	SHREE GOPAL STORES
Address :	C.A. Road, Lal Imli Chowk, Gandhibaug, Next to Bombay Pipe, Nagpur – 440002, Maharashtra, India
Contact No.:	91-9373108314
Date of Visit :	09.05.2018
Person to whom we met:	Employee (Name Not Divulged)
Name Board :	Sighted
Location:	Easy
Total Floors of the Building :	3 Storey Building
Subject situated on:	Ground Floor
Locality:	Commercial
Area of Premises :	500 Sq. Ft.
Area :	Upmarket
No. of employees seen at premises:	02 [Approx.]
Visibility of Items:	· Telephone · Computers · Air Conditioner · Office Equipment · Xerox Machine
Neighbours Interview :	During the visit our executive inquired with the neighbour companies- Ellen Pipes and Shyam Mill Stores and they confirmed the subject’s existence on the given address.
Proof of visit:	Photos

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 :	SAV
Analysis Done by :	NIY
Report Prepared by :	IND

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.