MIRA INFORM REPORT

Report No. :	507480
Report Date :	22.05.2018

IDENTIFICATION DETAILS

Name :	NORTH BIHAR ELECTRIC TRADERS
Registered Office :	Poonam Cinema Road, Near Ansari Petrol Pump, CM College, Lalbagh, Darbhanga - 846004, Bihar
Mobile No.:	91-7766948939 (Mr. Kunal Bairoliya)
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	1974
Capital Investment / Paid-up Capital :	INR 4.494 Million
IEC No.: [Import-Export Code No.]	Not Divulged
PAN No.: [Permanent Account No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
TIN No.:	Not Divulged
Legal Form :	Sole Proprietary Concern
Line of Business :	Dealer of electrical accessories. (From Indirect Sources)
No. of Employees :	1 (Approximately) (As per site visit)

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 12000 (In INR 815700.05)
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Mr. Kunal Bairoliya (Contacted Person) denied to provide any information about the subject. However, as per indirect source we could find that the subject is a proprietorship concern established in the year 1974 and it is engaged as dealer of electrical accessories. As per financial figures of March 2017, the concern has achieved sales turnover of INR 25.15 million and has clocked the net profit margin of 3.71%. Rating takes into account, the satisfactory financial risk profile marked by adequate capital base and strong debt protection metric. Rating continue to derive strength from its long and established track record of its business operation. Payment seems to be usually correct. In view of aforesaid, the concern can be considered for business dealing at usual trade terms and conditions. Note: Site visit was conducted at the given address and our executive had successfully traced the subject. At the premise our executive met to one staff (Name and Designation not divulged), he confirmed the existence of the subject on the given address and provided with contact number (#8987281270). As per our executive’s observation, it is a shed type premise and located easily near petrol pump. Locality seems to be commercial and area near the premise appears to be upmarket. Our executive sighted approximately 1 employee at the premise along with telephone and furniture items. Name board of the subject was sighted at the given premise address. On inquiry with executive from “Anil Motor Store” and “Raicopipe Store” both executives from neighbour companies confirmed the existence of the subject on the given address.

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

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 22.05.2018

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 DENIED BY

Name :	Mr. Kunal Bairoliya
Designation :	Not Divulged
Contact No.:	91-7766948939
Date :	19.05.2018

LOCATIONS

Registered Office :	Poonam Cinema Road, Near Ansari Petrol Pump, CM College, Lalbagh, Darbhanga - 846004, Bihar, India
Tel. No.:	Not Available
Mobile No.:	91-7766948939 (Mr. Kunal Bairoliya)
Fax No.:	Not Available
Locality :	Commercial (As per site visit)

SOLE PROPRIETOR

Name :	Mrs. Renu Bairoliya
Designation :	Proprietor

BUSINESS DETAILS

Line of Business :	Dealer of electrical accessories. (From Indirect Sources)
Products :	Electrical Accessories
Brand Names :	Not Available
Agencies Held :	ANCHOR
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, Cheque
Purchasing :	Cash, Cheque

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

1 (Approximately) (As per site visit)

Bankers :

• Vijaya Bank

Banker Name :	IDBI Bank Limited
Branch :	Not Divulged
Person Name (With Designation) :	--
Contact Number :	--
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 :	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)
Motor vehicle loan account – Vijaya Bank	0.237
Total	0.237

Auditors :

Name :

Mukesh Jha and Company

Chartered Accountants

Address :

Darbhanga, Bihar, India

Membership No.:

528106

Collaborators :

Not Available

Membership :

Not Available

Sister Concern :

--

CAPITAL STRUCTURE

AS ON 31.03.2017

CAPITAL ACCOUNT AS ON 31.03.2017

Particular	Amount (INR in million)	Particular	Amount (INR in million)
To Drawings	0.104	By Balance B/F	3.865
To Income Tax Advance	0.110	By Net Profit	0.932
To Tax Deducted at Source	0.001	By Interest on saving Bank Account	0.003
To vehicle Insurance	0.005	By Interest on FDR	0.015
To Vehicle Maintenance Expenses	0.023	By Income Tax Refund	0.001
To Interest Account	0.009
To Depreciation Account	0.035
To Life Insurance Premium	0.035
To Balance C/F	4.494
Total	4.816	Total	4.816

FINANCIAL DATA

[all figures are 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
EQUITY AND LIABILITIES
1] Proprietors Capital		4.494
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		4.494
LOAN FUNDS
1] Secured Loans		0.237
2] Unsecured Loans		0.300
TOTAL BORROWING		0.537
DEFERRED TAX LIABILITIES		0.000
TOTAL		5.031
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.161
Capital work-in-progress		0.000
INVESTMENT		0.188
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.225
	Sundry Debtors	0.099
	Cash & Bank Balances	1.385
	Other Current Assets	0.000
	Loans & Advances	0.028
Total Current Assets		2.737
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.005
	Other Current Liabilities and Provisions	0.050
Total Current Liabilities		1.055
Net Current Assets		1.682
MISCELLANEOUS EXPENSES		0.000
TOTAL		5.031

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	25.148
	Other Income	0.407
	TOTAL	25.555
Less	EXPENSES
	Cost of Materials Consumed	23.543
	Freight	0.005
	Salaries and Wages	0.660
	Power and Fuel Indirect	0.035
	Rent Paid	0.036
	Vehicle Insurance	0.014
	Travelling Expenses	0.017
	Vehicle Maintenance Expenses	0.068
	Conveyance Expenses	0.012
	Telephone Expenses	0.002
	Professional Tax	0.002
	Trade Licence Fee	0.005
	Audit Fee	0.013
	Legal Fee	0.008
	Bank Charges and Commission	0.004
	Printing and Stationary	0.006
	Postage and Stamps	0.000
	Shop Expenses	0.046
	TOTAL	24.476
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1.079
Less	FINANCIAL EXPENSES	0.028
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1.051
Less/ Add	DEPRECIATION/ AMORTISATION	0.119
	NET PROFIT/ (LOSS)	0.932

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	1.44
Account Receivables Turnover (Income / Sundry Debtors)	254.02
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	15.58
Inventory Turnover (Operating Income / Inventories)	0.88
Asset Turnover (Operating Income / Net Fixed Assets)	0.34

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.26
Debt Equity Ratio (Total Liability / Networth)	0.12
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.30
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.70
Interest Coverage Ratio (PBIT / Financial Charges)	38.54

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	3.71
Return on Total Assets ((PAT / Total Assets) * 100)	%	15.31
Return on Investment (ROI) ((PAT / Networth) * 100)	%	20.74

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	2.02
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.12
G-Score Ratio Financial (Networth / Total Assets)	0.74
G-Score Ratio Debt (Debts / Equity Capital)	0.12
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.02

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	Yes
5	Buyer visit details	Yes
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	No
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 (At site visit)	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
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	No
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 :	NORTH BIHAR ELECTRIC TRADERS
Address :	Poonam Cinema Road, Near Ansari Petrol Pump, CM College, Lalbagh, Darbhanga - 846004, Bihar, India
Mobile No.:	91-8987281270
Person to whom we met:	Staff (Name and Designation not divulged)
Name Board:	Sighted
Location:	Easy
Landmark (If Any):	Near Petrol Pump
Total Floors of the building:	Shed type premises
Locality:	Commercial
Area:	Upmarket
No. of Employees seen at Premises :	1
Visibility of Items:	Telephone
Furniture items sighted:	Yes
Neighbour’s Interview:	On inquiry with executive from “Anil Motor Store” and “Raicopipe Store” both executives from neighbour companies confirmed the existence of the subject on the given address.
Proof of visit:	Photograph

UNSECURED LOAN

PARTICULAR	31.03.2017 (INR in Million)
Sneha Bairoliya	0.150
Sonam Bairoliya	0.150
Total	0.300

FIXED ASSETS

• Land and Building
• Ornaments
• Computer
• Motor Vehicle

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 67.52
UK Pound	1	INR 91.48
Euro	1	INR 80.52

INFORMATION DETAILS

Information Gathered by :	ARC
Analysis Done by :	NIS
Report Prepared by :	RKI

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.