MIRA INFORM REPORT

Report Date :

09.01.2007

IDENTIFICATION DETAILS

Name :	CONTINENTAL DEVICE INDIA LIMITED
Registered Office :	C / 120, Naraina Industrial Area, New Delhi - 110 028
Country :	India
Financials (as on) :	31.03.2006
Date of Incorporation :	10.12.1964
Com. Reg. No.:	55-4291
CIN No.: [Company Identification No.]	U32109DL1964PLC004291
TAN No.: [Tax Deduction & Collection Account No.]	DELC07659B
PAN No.: [Permanent Account No.]	AAACC1835E
Legal Form :	Closely Held Public Limited Liability Company.
Line of Business :	Manufacturing and Exporting of discrete silicon Semiconductor components like Transistors, Diodes, Zener Diodes in standard and surface Mount Packages, Photo-Sensitive Semi Conductor Devices including Photo-Voltaic Cells, Mounted Piezo-Electric Crystals, Subcontract Assembly for Discrete Components and Contract PC Board Assembly.

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 2500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having fine track. Directors are reported as experienced, respectable and resourceful industrialists. Their trade relations are reported as fair. General financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

LOCATIONS

Registered Office :	C / 120, Naraina Industrial Area, New Delhi – 110 028, India
Tel. No.:	91-11-25796150 / 6151 / 6152 / 6153/51411112
Fax No.:	91-11-25799569/25795290/51411119
E-Mail :	sales@cdil.cc.gw.wiprobt.ems.vsnl.net.in sales@cdil.com email@cdil.com
Website :	http://www.cdil.com http://www.cdilsemi.com
Area :	10000 sq.fts (Owned)
Location :	Industrial Area
Factory 1 :	C / 120, Naraina Industrial Area, New Delhi – 110 026
Factory 2 :	14/5, Mathura Road, Faridabad, Haryana
Factory 3 :	132, Industrial Area, Chandigarh
Factory 4 :	Electronics Complex, Rangreth, Sri Nagar, Jammu & Kashmir
Factory 5 :	B-97, Phase-VIII Industrial Area, SAS Nagar, Mohali 160059, Punjab
Branches :	4801, High Point IV, 45, Palace Road, Bangalore, Karnataka – 560 001

DIRECTORS

Name :	Mr. Gurpreet Singh
Designation :	Chairman and Managing Director
Address :	20-A, Aurangzeb Road, New Delhi – 110011, Delhi
Date of Birth :	22/11/1933
Date of Appointment :	10/12/1964
Name :	Ms. Maharani Gita Devi
Designation :	Director
Address :	B 90-A, Greater Kailash Part I, New Delhi – 110048, Delhi
Date of Birth :	21.03.1936
Date of Appointment :	11.12.1969
Name :	Mr. Inderdeep Singh
Designation :	Managing Director
Address :	20-A, Aurangzeb Road, New Delhi – 110011, Delhi
Date of Birth :	18/08/1960
Date of Appointment :	01/09/1988
Name :	Mr. G Kushal Singh
Designation :	Director
Address :	20-A, Aurangzeb Road, New Delhi – 110011, Delhi
Date of Birth :	19/02/1935
Date of Appointment :	07/03/1966
Name :	Ms. Gita Maharani Devi
Designation :	Director
Date of Birth :	21/03/1936
Date of Appointment :	06/03/1965
Name :	Mr. G. V. Subramanian
Designation :	Director
Address :	Flat No. A- 706, 7^th Floor, Riverview apartment, Plot # 10, Mayur Vihar Ext. Phase – I, Delhi – 110091, Delhi
Date of Birth :	18/02/1940
Date of Appointment :	28/10/2002
Other Personal
Name :	Mr. Pankaj Rai Jain
Designation :	Secretary
Address :	Flat No 114, Kadambri, Apartments, Sector – 9, plot No. 19, Rohini, Delhi – 110085, Delhi
Date of Birth :	30/12/1958
Date of Appointment :	04/09/1990

KEY EXECUTIVES

Name :	M/s Jasuja and Associates
Designation :	Company Secretary
Address :	79/8, Channa Market, W.E. A. Karol Bagh, New Delhi-110005
Tel. No. :	91-11-25756142 / 25733401 [Res. 91-11-7417032 / 7248877]
Fax No.:	91-11-5756142
Email :	mail@jasuja.com

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
Maharani Gita Devi	29940
Sushil Nanda Deepika Nanda	4000
Sumir Pal Singh Sethi	38320
Tikka Shatrujit Singh	127225
Brig Sukjit Singh [RETD]	80000
Amrit Kaur	5152
S Tejpal Singh Amrit Kaur	22352
S Tejpal Singh – HUF	2300
Urvashi Kumari	6000
Indumati RV Singh Karanvliay Singh	9000
Indumati RV Singh Urvashi Kumari	9000
The Rmadyne Limited	75890
Simran Bhargava Kushal G Singh S Gurpeet Singh	271000
Inderdeep Singh Kushal Singh S Gurpreet Singh	720000
Kushal G Singh S Indrdeep Singh S Gurpreet Singh	493316
S Gurpreet Singh – HUF S Indrdeep Singh	36892
S Gurpreet Singh S Indrdeep Singh Kushal G Singh	32006
S Arjun Singh – HUF S Gurpreet Singh S Inderdeep Singh	50180
Punita G Singh Kushal G Singh S Gurpreet Singh	237600
S Inderdeep Singh Reena Singh Prithvideep Singh [Minor] Thru Guardian Inderdeep Singh	279495
Simran Bhargava Tara Bhargava Amira Bhargava Thru Sumran Bhargava	106890
Kushal G Singh Punita G Singh	50180
Prithvideep Singh [Minor] Thru Gurdian Inderdeep Singh Reena Singh Inderdeep Singh	215000
Gitana Singh [Minor] Thru Gurgdian Inderdeep Singh Reena Singh Inderdeep Singh	101800
Reena Singh Prithvideep Singh [Minor] Thru Gurgdian Inderdeep Singh Inderdeep Singh	125000
S Gurpeet Singh Kushal G Singh Inderdeep Singh	473864
Punita G Singh Kushal G Singh Prithvideep Singh [Minor]	25000
Ashok Bir Zebun Ashok Bir Binita Bir	8000
Kushal G Singh Simran Bhargava S Gurpreet Singh	200000
Kushal G Singh Gitana Singh Thru Gurgdian Inderdeep Singh S Gurpreet Singh	100000
S. Inderdeep Singh Reena Singh Gitana Singh Thru Gurgdian Inderdeep Singh	103347
S. Inderdeep Singh Prithvideep Singh [Minor] Thru Gurgdian Inderdeep Singh Reena Singh	131251
S. Inderdeep Singh Gitana Singh Thru Gurgdian Inderdeep Singh Reena Singh	130000
Total	4300000

BUSINESS DETAILS

Line of Business :

Manufacturing and Exporting of discrete silicon Semiconductor components like Transistors, Diodes, Zener Diodes in standard and surface Mount Packages, Photo-Sensitive Semi Conductor Devices including Photo-Voltaic Cells, Mounted Piezo-Electric Crystals, Subcontract Assembly for Discrete Components and Contract PC Board Assembly.

Products :

Product Description	ITC Code No
DIODES	85.41.10
Transistors	85.41.29
Electronic Sub Assemblies	85.17.19
Automotive Parts	85.11.90
Other Electronic Sub Assemblies and Modules	85.48.00

Exports to :

North and South America, Far East & Australia, Africa, Europe and Middle East.(60% of its production)

Imports from :

Japan, Switzerland, USA, Germany, Singapore, Italy and Hong Kong

Terms :

Purchasing :

L/C, Cash and Credit (60 days) terms

PRODUCTION STATUS

As on 31.03.2005

Particulars	Unit	Installed Capacity	Actual Production
Devices	Millions	652.50	652.50
Sub-Assemblies	Millions	0.05	0.05
Operating Unit	Millions	0.50	0.10
TV Receivers	Millions	0.15	0.07
EPABX	--	0.02 Mn Lines	15 K Lines

GENERAL INFORMATION

Customers :	v Bharat Heavy Electrical Limited v ITI Limited v Bharat Electronics Limited v Siemens Limited v Asea Brown Boveri Limited v ESAB India Limited v Bharati Telecom Limited
No. of Employees :	300
Bankers :	Standard Chartered Grindlays Bank Limited, H Block, Connaught Circus, Delhi - 110 001 IDBI Bank Of Baroda UCO Bank ING Vysya Bank Limited, Narain Manzil, 23 Barakhamba Road, New Delhi Punjab National Bank, Kamla Nagar Branch, Delhi
Facilities :	--

Banking Relations :	Good
Auditors :	Raghunath Rai & Company Chartered Accountants
Address:	9-B, Mathura Road, Jangpura, New Delhi-110014
Tel No. :	91-11-24372181-82-83
Fax No.:	91-11-24372181-82-83
Email :	rnrl@vsnl.net
Website :	http://www.rnr.in
Associates :	v Delta Hamlin Limited v Deltron Limited Public limited company Incorporation Date : 10^th June 1982 Line of Business : manufacturers and Exporters of Electronic Assemblies Website : http://www.deltronindia.com v Delta Electronics Private Limited C-120, Naraina Industrial Area, New Delhi 110028 Tel No. : 91-11-25796150-53 (4 Lines)/5141112 Fax No. : 91-11-25795290/25799569 Website : http://www.deltawound.com Private limited company Incorporation Date : 28^th January 1970 Line of Business : manufacturers of Reed Relays and Reed Switches, Transformaers, Adapters, Reed/ Proximity Switches, Inductors, Toroids and Special Purpose Wound Components. v Semtech Private Limited v Simran Electronics Private Limited v Thermodyne Private Limited v CDIL HK Limited

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
4900000	Equity Shares	Rs.10/- each	Rs. 49.000 millions
10000	Preferences Share	Rs. 100/- each	Rs. 1.000 million
	Total		Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4300000	Equity Shares	Rs.10/- each	Rs. 43.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2006	31.03.2005	31.03.2004
SHAREHOLDERS FUNDS
1] Share Capital		43.000	17.200	17.200
3] Reserves & Surplus		622.037	546.127	466.566
NETWORTH		665.037	563.327	483.766
LOAN FUNDS
1] Secured Loans		51.474	21.632	28.205
2] Unsecured Loans		178.795	147.411	111.768
TOTAL BORROWING		230.269	169.043	139.973
DEFERRED TAX LIABILITIES		40.595	49.852	53.685
TOTAL		935.901	782.222	677.424
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		295.103	275.722	261.295
Capital work-in-progress		7.277	7.636	0.000
INVESTMENT		459.676	390.140	367.997
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	101.834	65.183	38.751
	Sundry Debtors	156.803	137.047	70.773
	Cash & Bank Balances	32.418	38.562	42.634
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	100.636	84.295	53.127
Total Current Assets		391.691	325.087	205.285
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	201.152	199.669	123.492
	Provisions	16.694	16.694	33.661
Total Current Liabilities		217.846	216.363	157.153
Net Current Assets		173.845	108.724	48.132
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		935.901	782.222	677.424

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2006	31.03.2005	31.03.2004
Sales Turnover [including other income]	1504.347	1270.564	994.577
Profit/(Loss) Before Tax	79.695	95.729	89.636
Provision for Taxation	3.786	16.168	8.820
Profit/(Loss) After Tax	75.909	79.561	80.816
Export Value	647.123	532.910	Nil
Import Value	NA	429.530	Nil
Total Expenditure	1424.652	1174.835	904.942

KEY RATIOS

PARTICULARS		31.03.2006	31.03.2005	31.03.2004
PAT / Total Income	(%)	5.05	6.26	8.13
Net Profit Margin (PBT/Sales)	(%)	5.30	7.53	9.01
Return on Total Assets (PBT/Total Assets}	(%)	11.60	15.93	19.21
Return on Investment (ROI) (PBT/Networth)		0.12	0.17	0.19
Debt Equity Ratio (Total Liability/Networth)		0.67	0.68	0.61
Current Ratio (Current Asset/Current Liability)		1.80	1.50	1.31

LOCAL AGENCY FURTHER INFORMATION

Name of the company

CONTINENTAL DEVICE INDIA LIMITED

Presented By

ING VYSYA BANK LIMITED AND CONTINENTAL DEVICE INDIA LIMITED

1) Date and description of instrument creating the change

Agreement dated 17.11.2004 [Regd. On 14.12.2004]

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 30 Millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation of entire current assets, viz Raw Materials, work in progress and finished goods both present and future stored at C – 120, Naraina Industrial Area or elsewhere and hypothecation of entire book dents of the company both present and future on first pari passu charge basis along with the other members of the consortium.

4) Gist of the terms and conditions and extent and operation of the charge.

First charge on above assets is to secure the following credit facilities sanctioned to the company :

Particulars	Rs In millions
Cash Credit	9.500
FLC / ILC Limit	7.000
Bank Guarantee	3.500
Post Shipment Limit / PLC	10.000
Total	30.000

Interest on cash credit is chargeable at Margin 11.25 % pa with monthly rests or at such other rates as may be fixed by the bank form time to time

5) Name and Address and description of the person entitled to the charge.

ING Vysya Bank Limited

Narain Manzil,

23 Barakhamba Road,

New Delhi

6) Date and brief description of instrument modifying the charge

Letter of Hypothecation to secure time trust loan against goods, general counter guarantee and indemnity covering several guarantees within the sanctioned guarantee limit, Export credit agreement supplemental general hypothecation agreement all dated 15.06.2005

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

The amount secure by this charge is increased form Rs. 30 Millions to Rs. 45 Millions to secure the following credit facilities :

Particulars	Rs In millions
Cash Credit	25.000
FLC / ILC Limit	14.000
Bank Guarantee	6.000
Post Shipment Limit / PLC	[13.000]
PLC	[6.000]
Total	45.000

The charge for Rs. 45 Millions is secured by hypothecation of entire current assets raw materials work in progress and finished goods both present and future stored at at C – 120, Naraina Industrial Area or elsewhere and hypothecation of entire book dents of the company both present and future on first pari passu charge basis along with the other members of the consortium.

Interest on CC Limit and PCL / PSL is chargeable at 11.50 % and 9.25 % pa respectively or at such other rate as may be fixed by the bank from time to time.

Fixed Assets

Land

Building

Plant and Machinery

Air Conditioning Plant

Office Equipments

Furniture and Fixture

Vehicles

Electrical Installations

History:

Historical Perspective :-

1964 -- Incorporated with a collaboration with Continental Device Corporation / Teledyne Semiconductors, CDIL was the first company to introduce silicon semiconductor technology in India.

1970 -- The first company to produce Reed Switches and Relays in the country.

1977 -- The first in the country to make Solar Cells.

1982 -- Diversification into manufacture of Electronic Sub- assemblies and Modules.

1984 -- Manufacture of Colour Televisions from component stage onwards.

1990 -- The first Indian Semiconductor Company to be approved under the IECQ system.

1992 -- The first Indian Electronics Company to be approved under IS/ISO 9002 quality systems certification, renewed in June 1995.

1995 -- The first Semiconductor Company to receive the export house status, Manufacturer

Exporter, recognized by the Government of India. Renewal of IS/ISO 9002 quality systems Certification. Various awards received on Quality, R&D and Exports from Government and Trade Associations.

Business:

The company is engaged in manufacturing and exporting of discrete silicon semiconductor components like transistors, diodes, zener diodes in standard and surface mount packages, photo-sensitive semi conductor devices including photo-voltaic cells, mounted piezo-electric crystals, subcontract assembly for discrete components and contract PC board assembly.

Inherent Strengths :-

· A very wide range of discrete components available.

· In-house wafer fabrication facility gives company an advantage to cater to specific customer requirements.

· Quick turnaround due to completely integrated manufacturing facility, from wafer fabrication to assembly to test.

· Highly qualified and trained technical staff, with over 100 technical employees in Manufacturing and Quality Assurance.

· State of the art manufacturing facility for discrete component manufacturing with equipments from Japan, Switzerland, USA, Germany etc.

· Company exports over 50% of its production, and CDIL products are now available in 35 countries around the world.

· State of the art SOT-23, Surface Mounted Semiconductors, facility set up for the first time in India in 1994-95.

· Strategically located to International Markets in Far East and Europe.

· A technically qualified team of people to respond to International customer requirement.

· An IS/ISO 9002 certified Company.

Generic Names of the Principal Products of the company are:-

· Devices & Chips

· Vehicles

Water Fabrication :-

· 4” Water Processing Capability

· Small Signal Discrete Bipolar Transistors

· Small Signal Switching Diodes and Zener Diodes, suitable for both Axial Package and Radial Package

· Discrete Bipolar Power Transistors

· Small Signal and Power Darlingtonss

Conventional Products :-

· DO-35 and DO-41 Glass Axial Diodes

· TO-92 and TO-237 Packages

· TO-220 and TO-126 Plastic Packages

· TO-3P Fully Isolated Plastic Package

· TO-39, TO-18 and TO-72 Metal Can Devices

· TO-3 Metal Can Power

· SOT-23 Surface Mount Package

Quality Policy :-

· To serve company’s customers by supplying quality, defect-free products, which conform to all customer requirements, and are delivered on time and at fair price.

· To provide an environment that fosters employee involvement at all levels and where all employees have an opportunity to develop to their best potential and share in the success and profitable growth of the company.

· The Company endorses the concept of Total Quality Management (TQM) through continuous awareness and consideration of quality, starting with the design of the product and ending only when the product has been placed in the hands of the customer who remains satisfied. Total Quality Management is based on the principle that quality responsibility is vested in each and every individual of the organisation

· The company’s Quality Systems as enunciated in the QUALITY MANUAL ( CD/ QC /ML / 001) and its associated documents comply with the applicable requirements of IS/ISO 9002. It is the responsibility of all employees to implement the Quality Systems of the organisation.

Quality Assurance and Reliability Programme :-

· The company is committed to supplying high quality semiconductors to its customers. Device reliability is monitored through a wide variety of tests periodically conducted. As per industry norms, these are accelerated tests serving to model real world application through boosted temperatures, voltages and other stress tests as applicable. Close interaction with customers provides field performance data. Failure analysis is performed thoroughly and immediate necessary corrective action implemented.

·

The company has been a leading supplier to India's defence and space programmes.

The company has stockist distributors, manufacturers representatives and agents to work with customers and help them source their needed quality discrete semiconductor components.

The company’s products are widely used in Consumer, Telecommunications, Industrial, and Information Technology applications.

The company is committed to supporting its worldwide customers by offering quality products at fair prices.

It represents the following :

v Grunding AG, Germany

v Semtech Corporation, USA

v Chatlos Systems Inc., USA

v Transradio Limited, U.K.

Its major customers include wholesalers and Government bodies.

Membership

• Confederation of Indian Industry

Website details attached:

Profile

The Pioneers

Continental Device India Limited (CDIL) is proud to have pioneered the manufacture of Discrete Semiconductor Devices in India, way back in 1964.The Company was the first Electronic Components Manufacturer in India to have received the ISO 9001 certification (in 1992) and the IECQ certification (in 1991).

Maintaining Leadership Profile

CDIL maintains Leadership Profile in the Manufacture of a Wide Range of Quality Discrete Semiconductor Components. Components that support Manufacturers to create sophisticated and cutting-edge-technology products for global markets. In a small but significant way, CDIL is contributing to this technology build-up – at home as well as in the International Markets.

Product Range

CDIL manufactures a comprehensive range of Transistors (General Purpose/Small Signal Switching/RF/Power/Darlington / SOT), Diodes (Switching - Single and Dual / Zener / Surface Mount SOT-23/SOD-80C Mini Melf), Schottky Barrier Rectifiers (Single / Dual / SOT) and supplies Chips/Dice/Diffused Silicon Wafers (4")to OEMs.

Resources

CDIL has a well established state-of-the-art manufacturing facility with automatic production equipment set up in 10,000 sq m clean room area. The operations are efficiently managed by a team of nearly 300 Engineering and Technical experts, with deep commitment to TQM policies of CDIL.

Worldwide Reach

Over 60% of CDIL’s production of the Discrete Semiconductor Devices in both conventional Leaded Insertion Mount (wide range of axial and radial packages) as well as Surface Mount Packages (SOT-23/SOD-80C) - are exported worldwide in competition with world majors in semiconductors. This testifies CDIL's product QUALITY and PRICE COMPETITIVENESS.

International Approvals

CDIL devices are approved by global authorities
- including EXACT, JSS, CACT, LCSO, IECQ, and CDOT.

Group Companies

Deltron Limited – www.deltronindia.com

A world-class Electronics Contract Manufacturing Company that has the state-of-the-art Surface Mount Technology (SMT) and Thru-hole Assembly capabilities.

Deltron provides design support to customized turnkey solutions. The Company has a dedicated skilled and trained human resource that is customer oriented and fully geared up to meeting their specific needs.

Delta Electronics Private Limited– www.deltawound.com

Manufacturers of Wire Wound Components – Laminated Transformers, Ferrite Transformers/Toroids, Current transformers and Reed Relays. Delta Electronics also provides Quality Customized Solutions, undertaking design and development of customer specials for applications ranging from miniature Toys to Telecom and Medical equipment/instruments Subject import Silicon Materials, Headers, Seal Ping, Chemicals and Slats and Bonding Wire.

The details of the quantity imported :

Silicon Materials : 850 Kg

Header : 63655 kg

Seal Pings : 16474 kg

Chemicals and Salt : 67632 kg

Bonding Wire : 130 kg

AS PER WEBSITE

Products :

Chips/Dice/Diffused Silicon Wafers

Diode/ Zener Chips
Transistor Chips

Diodes

General Purpose Diodes
Switching Diodes
Schottky Diodes
DIACS

Zeners

SMD Zener Diodes
400 mW Axial Zener Diodes
500 mW Axial Zener Diodes
1 W Axial Zener Diodes
1.3 W Axial Zener Diodes
2 W Axial Zener Diodes

Transistors

General Purpose Transistors
Medium Power Transistors
Switching Transistors
High Voltage Transistors
Low Frequency Transistors
RF Transistors
Darlington Transistors
Power Transistors

Triac

Triac

Packages and Packaging

SOT-23 SMD Plastic Package
SOD-80C (LL-34)Mini MELF
DO-35 Glass Axial Leaded Package
DO-41 Glass Axial Leaded Package
TO-92 Plastic Package
TO-237(TO-92LL) Plastic Package
TO-126 Plastic Package
TO-220 Plastic Package
TO-220FP Fully Isolated Plastic Package
TO-3P Fully Isolated Plastic package
TO-3 Metal Can Package
TO-18 Metal Can Package
TO-39 Metal Can Package
TO-72 Metal Can Package

Subject is an ISO/TS 16949 and ISO 9001 Certified Company

CDIL is recognized for Excellence

CDIL has bagged numerous awards and received recognition from the industry and Government bodies for excellence in production, Research and Development, Quality, Valued Partner / Best Vendor, Export Performance, Safety. A short selection of the Awards and Recognition is listed:

• ELCINA award for Excellence in Quality for the years 1999 -2000, 2000 -2001.
• ELCINA award for Outstanding Export Performance for the year 2000 - 2001.
• SONY India Award for "Quality" for the year 1999-2000.
• Bharti Telecom Award for "Vendor Appreciation" for the year 1998-99.
• Crompton Greaves Award for "Valued Vendor" for the year 1998-99.
• Rajiv Gandhi National Quality Award, 1998 in the field of Electrical & Electronic Industry.
• SONY India Award for Quality for the year 1998-99.
• The ESC Special Award for "Excellence in Exports" for Electronic Components under the category Establishing Indian Brand in Foreign Markets, for 1997-98.
• The Government of National Capital Territory of Delhi State Award for Export Excellence for the year 1996-97 under the category Manufacturing Exporters (Electronics).
• Bharti Telecom Award for "Best Vendor" for the year 1996-97.
• The ESC Special Award for Excellence in Exports under the category Innovation of new product in the field of electronic components in 1996.
• The ELCINA Award for "R&D" in 1996.
• Institute of Directors award for "Quality" in 1993.
• Citation in Parliament for "Contribution to the Space Programme".
• The ELCINA Award for "Export" in 1992.
• The ELCINA Award for "Excellence in Export Efforts" in 1980.
• The ELCINA Award for "R&D" in 1979.
• The President of India's "Gold Shield for Import Substitution" in 1973.

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	Rs.44.42
UK Pound	1	Rs.85.79
Euro	1	Rs.57.80

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	8
--MARGINS	-5~5	--
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	NO
TOTAL		68

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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