MIRA INFORM REPORT

Report Date :

13.12.2011

IDENTIFICATION DETAILS

Name :	KALKI COMMUNICATION TECHNOLOGIES LIMITED
Registered Office :	147, Anantha Pushpa Building, IInd Floor, 5^th Main Road, 7^th Sector, HSR Layout, Bangalore – 560034, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.05.1998
Com. Reg. No.:	08-023782
Capital Investment / Paid-up Capital :	Rs.17.306 Millions
CIN No.: [Company Identification No.]	U31200KA1998PLC023782
TAN No.: [Tax Deduction & Collection Account No.]	BLRK01443B
PAN No.: [Permanent Account No.]	AABCK2059D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The company is in the business of providing control, communication, computing solutions and consulting services to the energy and automation industry
No. of Employees :	159 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba [48]

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 477000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	147, Anantha Pushpa Building, IInd Floor, 5^th Main Road, 7^th Sector, HSR Layout, Bangalore – 560034, Karnataka, India
Tel. No.:	91-80-40527900
Fax No.:	91-80-25725473
E-Mail :	Anoop.togataveer@kalkitech.in Sales_ap@kalkitech.com
Website :	http://www.kalkitech.in http://www.kalkitech.com

DIRECTORS

As on 23.09.2011

Name :

Mr. Prasanth Gopalakrishnan

Designation :

Managing Director

Address :

No. 567, 16B Cross, 3rd Main, 6th Sector, HSR Layout, Bangalore- 560034, Karnataka, India

Date of Birth/Age :

01.04.1973

Date of Appointment :

27.05.1998

DIN :

00286504

Name :

Mr. Sushil Cherian

Designation :

Whole-time Director

Address :

567, 2nd Floor, 16th B Cross, 3rd Main, HSR Layout, Sector -6, Bangalore-560034, Karnataka, India

Date of Birth/Age :

30.05.1974

Date of Appointment :

15.04.1999

DIN :

00286538

Name :

Mr. Sunil Vargis Mathew

Designation :

Whole-time Director

Address :

Flat No. 202, Santhome Apartments, 33/1, I A Cross, Michealpalya, Indiranagar,

Bangalore-560038, Karnataka, India

Date of Birth/Age :

17.03.1974

Date of Appointment :

28.09.2001

DIN :

00293391

Name :

Mr. Manoj Payingare

Designation :

Director

Address :

Flat No 206 Admirality Manor Off 13th, Cross 6th Main, Indiranagar, 2nd Stage, Bangalore - 560008, Karnataka, India

Date of Birth/Age :

25.05.1974

Date of Appointment :

15.04.1999

DIN :

01501023

Name :

Mr. Hariprasad Gangadharan

Designation :

Director

Address :

No B 804 Sobha Wind Fall, Amruthahalli, Bangalore-560064, Karnataka, India

Date of Birth/Age :

31.01.1973

Date of Appointment :

15.04.1999

DIN :

01504249

Name :

Mr. Nair Sajith Somanathan

Designation :

Whole-time Director

Address :

526/ Xii Kalampukattu, Mannanam P.O, Kottayam, Kerala-686561, India

Date of Birth/Age :

27.04.1977

Date of Appointment :

27.05.1998

DIN :

01505545

Name :

Mr. Kavungal Suresh Kumar

Designation :

Nominee director

Address :

J -47,Jyothi Nagar, Keshavadasapuram Po Trivandrum - 695003, Kerala, India

Date of Birth/Age :

20.03.1965

Date of Appointment :

20.03.2010

DIN :

02075290

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U55101KL2006PTC019360	ABAD HILL RESORTS PRIVATE LIMITED	Nominee director	20/02/2008	20/02/2008	-	Amalgamated	NO
2	U33301KL1978SGC002956	ASTRAL WATCHES LIMITED	Nominee director	1/4/2008	1/4/2008	-	Active	YES
3	U26994KL1985SGC004330	KERALA SPECIAL REFRACTORIES LIMITED	Director	1/8/2009	1/8/2009	22/10/2009	Active	NO
4	U31200KA1998PLC023782	KALKI COMMUNICATION TECHNOLOGIES LIMITED	Nominee director	20/03/2010	20/03/2010	-	Active	NO
5	L25199KL1993PLC007018	RUBFILA INTERNATIONAL LIMITED	Nominee director	5/4/2010	5/4/2010	19/07/2011	Active	NO
6	U55101KL1982PTC003654	ABAD HOTELS INDIA PRIVATE LIMITED	Nominee director	13/06/2011	13/06/2011	-	Active	NO
7	U55101KL1999PTC013518	ABAD SPECIALITY HOTELS PRIVATE LIMITED	Nominee director	20/07/2011	20/07/2011	-	Active	NO

KEY EXECUTIVES

Management Committee :

Johney Varghese – VP Technical Services Manikantan N – VP Engineering Vinoo S Warrier – VP and Director SYNC Product Management Sreeni T S – VP Sales and Marketing Jose Thomas – VP ELTRIX Product Management Gopakumar K – VP Testing and Validation Fahid KA – AVP Product Management Nobin Mathew – AVP CoE Veena Jain – Head HR

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.09.2011

Names of Shareholders	No. of Shares
Anand Jayaraman	210,000
Anbueaswaran Gopalarajan	51,600
Anil K Nair	175,000
Anil Kumar R	10,000
Anoop Menon M	2,500
Anupama Kaul	2,500
Arun Manmathan Nair	50,000
Arun Palaniswamy	5,000
Baiju P S	7,500
Deepak Balachandran	7,500
Elizabeth Chacko	205,000
Gopakumar K	15,000
Hariprasad Gangadharan	536,780
Jacob Cherian	65,100
Jayadev Gopinath	83,140
Jithesh K	10,000
Johney Varghese	50,000
Jojo Sunny A	426,560
Jojy Jose Ovelil	52,150
Jolly Rajan	7,500
K Vijayalakshmi	49,250
Krishnan K S	20,000
Krishnan R Nair	178,000
Lalith Kumar	2,500
Manoj Kumar Vijayan R	184,310
Manoj P	610,685
Mohammed Shafee	1,250
Mohandas P S	100,000
Noby Jacob	2,500
Prabhath P Raman	338,750
Pramod Gopalakrishnan	158,400
Prasanth Gopalakrishnan	882,740
Prashant S M	2,500
Priya G	20,000
Rafjith N M	7,500
Raj S	190,625
Rajeev Babu C	7,500
Rajesh P Velandy	129,405
Rajesh V Kini	62,550
Sajith Sankar	40,000
Sajith Somanathan	59,700
Sandesh K V	2,500
Sanjay Prasad	681,400
Santhosh Xavier	2,500
Sarin Thomas	45,850
Sathyan N	50,165
Shebeer Mohammed	7,500
Shylet Theresa	2,500
Soji Joseph	50,000
Sreejith M Pillai	10,000
Sreekailas B J	5,000
Sunil Kumar V A	2,500
Sunil Vargis Mathew	925,800
Sushil Cherian	894,140
T K Gopalakrishnan Nair	70,750
Tony Thomas E	323,900
Vijay Mudakkayil S.	50,000
Kerala Venture Capital Capital Fund	400,000
Sreeni T S	100.000
Fahid K A	7,500
Total	8,653,000

As on 23.09.2011

Equity Share Break Up Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie’s Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	20.80
Venture Capital	4.62
Directors or relatives of Directors	49.82
Other top fifty shareholders	24.76
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is in the business of providing control, communication, computing solutions and consulting services to the energy and automation industry

PRODUCTION STATUS As on 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Embedded, printed circuit boards, panels, meters and converters	Nos.	NA	18000	1626
Installed capacity is as certified by the management and relied upon by the auditors, being a technical matter. The company’s product is exempted from licensing requirements under industrial [development and regulation] Act, 1951and consequently, disclosure of licensed capacity does not arise.

GENERAL INFORMATION

No. of Employees :

159 [Approximately]

Bankers :

State Bank Of India

Sme Branch, J. P. Nagar 5th Phase, Bangalore - 560078, Karnataka, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Term Loan from Financial institution |Secured by way of first charge on the movable and immovable assets of the Company both present and future and persona! guarantee by the promoter directors]	10.085	11.646
Bank (Secured by way of second charge on the fixed asset of the Company both present and future and personal guarantee by the promoter directors)	7.052	10.090
Others (Secured by hypothecation of vehicle purchased there against)	0.195	0.624
Cash credit account [Secured by hypothecation of book debts and second charge on the fixed asset of the Company both present and future and personal guarantee by the promoter directors]	34.211	11.776
Packing credit (Secured by way of second charge on the fixed asset of the Company both present and future and personal guarantee by the promoter directors)	9.941	6.033
Total	61.484	40.170
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Banks (Repayable withjn one year Rs.1.191 millions previous year Rs. Nil	4.257	0.302
From Director	1.350	0.000
Total	5.607	0.302

Banking Relations :	--
Financial Institution :	Kerala State Industrial Development Corporation Limited Second Floor - Choice Towers, Manorama Junction, Cochin - 682016, Kerala, India
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Deloitte Centre, Anchorage II, 100/2, Richmond Road, Bangalore – 560025, Karnataka, India
Tel. No.:	91-80-66276000
Mobile No.:	91-80-66276011
PAN :	AACFD3771D
Subsidiaries :	Kalkitech FZE Kalkitech Inc Al Ghad Al Mushriq Computer Tech Company LLC
Joint Ventures :	Al Ghad Al Mushriq Computer Services Company LLC

CAPITAL STRUCTURE

As on 23.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000,000	Equity Shares	Rs.2/- each	Rs.40.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8,653,000	Equity Shares	Rs.2/- each	Rs.17.306 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		17.306	17.029	17.029
2] Share Application Money		0.074	0.213	0.013
3] Reserves & Surplus		102.031	83.013	59.188
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		119.411	100.255	76.230
LOAN FUNDS
1] Secured Loans		61.484	40.170	32.625
2] Unsecured Loans		5.607	0.302	0.933
TOTAL BORROWING		67.091	40.472	33.558
DEFERRED TAX LIABILITIES		1.332	1.401	1.954
EMPLOYEE STOCK OPTION OUTSTANDING		0.577	0.000	0.000
TOTAL		188.411	142.128	111.742
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		50.919	39.909	40.266
Capital work-in-progress		7.581	5.376	0.000
INVESTMENT		4.104	2.769	1.844
DEFERREX TAX ASSETS		6.282	4.978	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.513	2.358	1.672
	Sundry Debtors	101.937	54.305	55.731
	Cash & Bank Balances	20.284	18.460	11.402
	Other Current Assets	14.485	13.199	14.715
	Loans & Advances	47.868	38.048	21.256
Total Current Assets		189.087	126.370	104.776
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	44.703	18.914	18.627
	Other Current Liabilities	13.440	8.772	7.732
	Provisions	11.419	9.588	8.785
Total Current Liabilities		69.562	37.274	35.144
Net Current Assets		119.525	89.096	69.632
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		188.411	142.128	111.742

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	192.597	162.242	159.949
		Other Income	3.019	2.038	1.612
		TOTAL (A)	195.616	164.280	161.561
Less	EXPENSES
		Material / Component Consumed	39.297	35.569	22.457
		Personnel Cost	77.882	56.489	75.541
		Administrative Expenses	45.806	34.446	39.636
		Increase / [Decrease] in Stocks	0.000	0.357	2.502
		TOTAL (B)	162.985	126.861	140.136
	PROFIT/[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		32.631	37.419	21.425
Less	FINANCIAL EXPENSES (D)		8.285	6.809	3.341
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		24.346	30.610	18.084
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.595	7.328	4.141
	Prior period item		0.000	0.000	5.351
	PROFIT / [LOSS] BEFORE TAX (E-F) (G)		15.751	23.282	8.592
Less	TAX (H)		2.919	[1.535]	2.518
	PROFIT / [LOSS] AFTER TAX (G-H) (I)		18.670	24.817	6.074
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		55.055	31.230	25.156
Less	APPROPRIATIONS
		Proposed Dividend	-	0.851	-
		Corporate Dividend Tax	-	0.141	-
	BALANCE CARRIED TO THE B/S		73.725	55.055	31.230
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Material Exports	18.523	11.493	11.984
		Software/service sales	69.683	51.511	47.495
		Interest accrued on loans given	1.667	0.686	0.000
	TOTAL EARNINGS		89.873	63.690	59.479
	IMPORTS
		Raw Materials	4.525	10.132	12.619
		Capital Goods	0.000	0.000	0.009
	TOTAL IMPORTS		4.525	10.132	12.628
	Earnings/[Loss] Per Share (Rs.)		10.90	14.57	3.57

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.54	15.11	3.76
Net Profit Margin (PBT/Sales)	(%)	8.18	14.35	5.37
Return on Total Assets (PBT/Total Assets}	(%)	6.56	14.00	5.92
Return on Investment (ROI) (PBT/Networth)		0.13	0.23	0.11
Debt Equity Ratio (Total Liability/Networth)		1.14	0.77	0.90
Current Ratio (Current Asset/Current Liability)		2.72	3.39	2.98

LOCAL AGENCY FURTHER INFORMATION

COMPANY REVIEW :

Subject is a company incorporated under the provision of the companies Act, 1956. The company is in the business of providing control, communication, computing solutions and consulting services to the energy and automation industry.

PERFORMANCE OF THE COMPANY RESULTS

For the year financial year 2010-11, the company achieved overall turnover growth of 18.68% on standalone basis. Profit for the corresponding period dipped by 24% due to improved profits on products and more high value services. The company continued to capitalize product development expenses for the current year.

BRANDS

The company's has expanded its branding strategy for ELTRIX, SYNC and Services and has worked consistently in expanding these brands and value proposition to customers. These new brand and their roadmap will play and important role in the long term future and scalability of KALKITECH offerings for smart grid and other market opportunities as well as positioning KALKITECH as a premium technology provider in this space.

Communication Product (SYNC)

The company provide communication products that enable seamless data integration from field to enterprise for the power industry based on International standards. The company sells these products directly to end customers as well as through OEMs, Distributors and System Integrators globally. The communication products serve primarily the power transmission and distribution market, but there is growing need in power sub-systems within the Industrial and Oil and Gas segments where these products have relevance. The companies major customers for these products include end customers like TATA Power, Reliance Energy, KPTCL, CODENSA, BPA, Integrys, Dairyland Power, Mahagenco, NTPC, PGCIL, DIAL and DVC and Key OEMs include ABB, Siemens, GE, BHEL and Areva.

Optimization Product (ELTRIX)

The company's Optimization Product family enables customers to optimize their power system for cost, environment and stability. The product's first release was completed last year and this year the first major order was received. The company were able to expand its market in Middle East for Optimization. There were significant product wins in these markets, and it is expected that the optimization product business will significantly grow in the coming years. The companies major customers of the optimization products include NTPC, CSEB, MPPTCL, KPTCL, NHPC, Mahagenco, NLC, APSEB,CSPGCL and the Key OEMs include ABB and Yokogawa.

Systems and Services

The company provide system solutions, product engineering, software and automation services to the power industry. The company has created a center of excellence team to expand the systems and services business. The CoE, currently focuses on DA/DMS, AMR/AMI and Generation. The company's expansion into ME and USA is having positive impact on the services revenues, as well as focused and value added high end services like training and consulting is helping improve the revenue realization from services as well as having a positive impact on their overall brand.

EXPORT BUSINESS

The company's export was 45.76% of overall revenue in FY 10-11. The company continues to expand its sales

and marketing efforts in Middle-East and North America The export business is showing significant traction in Middle East, while US is still in investment mode.

KOCHI OPERATIONS

The company’s Kochi operations is now onstream with 40% of its total staff operating out of Kochi from Mid 2011, billing export revenue of INR 63,34,877 during the year. There are still certain hiccups in the Kochin operations in relation to power supply connection, and currently the facility is still running on DG Set.

KEY ACHIEVEMENTS

·Kalkitech was given a credit rating of SE2B (Above Average) by NSIC-CRISIL, rating agency. ·Kalkitech win's major 1.6 MUSD AMR/AMM Project in Middle East. ·Kalkitech wins major PADO/ELTRIX orders from GMR.

·Kalkitech CEO, awarded outstanding entrepreneurship award by Kerala Chief Minister

EXPANSION PLANS

The company intends to expand its staff strength in the Middle East and US operations, primarily on sales and sales support positions. The company also intends to expand the distributor and system integrator partners that sell / carry its products globally. The company's new product and services roadmap and increased focus on the most growing industry segment globally provide immense scope for continued growth expansion.

PRODUCT DEVELOPMENT

The company has defined two product brands for communication and optimization products, namely, SYNC and ELTRIX and all its product development has been brought under the above brands. Last year the company spend close to 10% of its total expenses on new product development and the salary expenses on new product development is being capitalized.

TALENT MANAGEMENT

The company has implemented system of management by objectives, where they are linking their reward and remuneration system to defined objectives of each employee and the same is tracked and evaluated on a quarterly basis. The directors believe this will help the team to work on more focused objectives and have a more transparent and objective evaluation criteria during their annual appraisal cycles. The company is consistently working on leadership development, and continues to invest in the same this year too. The company is also investing in mentoring and coaching for its senior management team including full time directors to improve productivity and effectiveness at work and make us better managers. The company is putting in place a talent review process which starts right at the board level down to the division level, to identify, groom, mentor, coach and train their next generation leaders. The company is continuously evaluating its leaders, internal processes that foster leadership and frank and fair feedback and coaching and trying to work with external consultants to help with the same.

FIXED DEPOSITS

The Total Deposits, i.e., fixed and recurring deposit, as on March 31, 2011 is Rs. 20.409 millions (Rs. 18.380 millions – 2009-10) and there are no overdue deposits.

BORROWINGS

The company enjoys the following credit limits or term loans from financial institutions:

State Bank of India SME Branch Bangalore:

35.000 Millions of Cash Credit

20.000 Millions of BG Limit

10.000 Millions of LC Limit

8.300 Millions of Asset Loan

10.000 Millions of Packing Credit

The above is limits/loan is sanctioned against the personal guarantee of Mr. Prasanth Gopalakrishnan, Mr. Sushil Cherian and Mr. Sunil V Mathew, all assets of the company in Bangalore, and lien on all receivables of the company and 2nd Charge on the Kochin development center.

KSIDC Kochin 22.000 Lakh term loan The above loan is sanctioned against first charge on the Kochin Development Center and related property and assets, as well as personal guarantee of Mr. Prasanth Gopalakrishnan, Mr. Sushil Cherian and Mr. Sunil V Mathew.

ICICI Bank Koramangala Bangalore 1.000 million Credit Limit The above limit is sanctioned on the personal guarantee of Mr. Prasanth Gopalakrishnan

SHARE CAPITAL

The Equity Share Capital stands at Rs.1.731 millions and there has been addition of 0.028 million to the equity share capital.

SUBSIDIARY/JOINT VENTURE COMPANIES

The company has setup the following entities during the period :

1. Kalkitech Inc., USA

2. Kalkitech FZE, Sharjah, UAE

3. Al Ghad Al Mushriq Computer Tech Co. LLC, Shajah UAE

Kalkitech Inc., Un Audited Profit and Loss account carries a loss of USD 153926 on a revenue of USD 417,455 for the period ending 31.03.2011.

Kalkitech FZE's Unaudited Profit and Loss account carries a loss of AED 373439 on a revenue of AED 367695 for the period ending 31.3.2010.

Al Ghad Al Mushriq Computer Tech Co. LLC's Unaudited Profit and Loss account carries a loss of AED 115971 on 351113 sales for the period ending 31.3.2010.

CONTINGENT LIABILITIES

Rs. in millions

	Particulars	31.03.2011	31.03.2010
1	Sales tax matter	0.000	0.150

Outflow, if any arising out of the said appeal would depend on the outcome of the decision of the appellate authority and the company’s right for future appeals before the judiciary.

Bankers Charges Report as per Registry

Corporate identity number of the company	U31200KA1998PLC023782
Name of the company	KALKI COMMUNICATION TECHNOLOGIES LIMITED
Address of the registered office or of the principal place of business in India of the company	147, Anantha Pushpa Building, IInd Floor, 5th Main Road, 7th Sector, HSR Layout, Bangalore – 560034, Karnataka, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10037725
Type of charge	Immovable Property
Particular of charge holder	Kerala State Industrial Development Corporation Limited Second Floor - Choice Towers, Manorama Junction, Cochin - 682016, Kerala, India Email : ushasanju@ksidcmail.org
Nature of instrument creating charge	Declaration signifying mortgage by deposit of title deeds of immovable properties and hypothecation of movables
Date of instrument Creating the charge	14.10.2010
Amount secured by the charge	Rs.37.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - 11% per annum Terms of Repayment - Repaid in 20 equal quarterly installments after moratorium of 12 Months from date of commercial operation or 24 months from the date of first disbursement of loan from KSIDC, which ever is earlier. The outstanding shall be re-phased to be paid in 9 equal quarterly installments starting from 11/10/2011 to 11/10/2013. Extent and Operation of the charge - Mortgage of Immovable Properties and Hypothecation of Movable Property for Rs. 37.000 millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Land situated at Chowara Village, Aluva Taluk in the registration sub district of Sreemoolangaram and the district of Eranakulam. All other fixed assets relating to the 15 (i) constructed, installed erected or to be constructed, installed erected thereon.
Particulars of the present modification	Deposit of title deeds for 1 Hectres, 44 Acres and 26 Sq.Mtrs (equivalent to 3 Acres and 56 Cents and 46 sq. links) of land situated at Chowara Village, Aluva Taluk, in the District of Ernakulam, Sy.No.699/1 and 699/2, and 696, 699/2 and 701, together with all other improvements, buildings.

FIXED ASSETS :

• Land
• Building
• Plant and Machinery
• Furniture and Fixtures
• Computer
• Office Equipments
• Electrical Installations
• Vehicles
• Motor Car

Website Details

Management

Prasanth Gopalakrishnan, Founder and CEO

Mr. Prasanth Gopalakrishnan, has more than 16 years of experience in the Communication System Research and Product Development. His areas of specialization are Standards based communication and optimization technology leadership for the energy and utilities space. Mr.Gopalakrishnan by qualification holds a Undergraduate Degree in Electronics and Communication Engineering from NIT Calicut and a Graduate Degree in Electrical Engineering from Colorado State University. Prior to founding Kalkitech, Mr. Gopalakrishnan worked with Robert Bosch India.

George Punnoose, COO

Mr.George Punnoose has more than 27 years of experience in Power Industry. He is responsible for overall operations and PandL of the company. Mr.George by qualification holds a degree in BSc Electrical Engineering from Kerala University. Prior to joining Kalkitech, Mr George worked for 16 years in ABB, where he last served as Head of Technology of Utility Automation Business Unit and was responsible for introduction of protection relay in Indian Markets. Later he worked with Easun Reyrolle Limited for 11 years, where he last served as President- India Business and he was instrumental in growing it from 40 crores to 250 crores.

Sushil Cherian, Co-Founder and CTO

Mr. Sushil Cherian, has more than 16 years of experience in Control and Automation Systems, especially in the Power and Oil and Gas Industries. His areas of specialization are Dynamic Controls and Non-linear Systems. Mr. Cherian by qualification holds a Undergraduate degree in Mechanical Engineering from NIT Calicut and a Graduate Degree in Mechanical Engineering from Colorado State University. Prior to founding Kalkitech, Mr. Cherian worked with ACES Controls in Houston, TX, USA.

Sunil Vargis Mathew, President

Mr. Sunil Vargis Mathew, has more than 16 years of experience in the Electrical Industry in implementing Sub-Station Automation, Energy Management and Control and Automation solutions. He is responsible for Engineering, HR, Admin and Finance functions. He has extensive experience in managing large projects in the power sector. Mr. Mathew by qualification holds a Undergraduate Degree in Electrical Engineering from NIT Calicut. Prior to founding Kalkitech, Mr. Mathew worked with ITI, Bangalore and Lucent Technologies, Bangalore.

Sreeni T S, Vice President - Sales and Marketing 

Mr. Sreeni T S has, more than 12 years of experience in different positions, the last 6 years of which has been with Kalkitech. He is responsible for Sales and Marketing function. He has also been responsible for various divisions including  Power Generation and Enterprise Software Solutions. Mr. Sreeni T S by qualification holds a Undergraduate degree in Mechanical Engineering from IIT Kanpur.

Manikantan N, Vice President - Consulting Services, Engineering  

Mr. Manikantan N has more than 18 years of experience in managing large Control and Automation projects in the Process and Energy verticals. He has also implemented ISO 9001:2000 schemes in various companies. Mr. Manikantan by qualification holds a Undergraduate degree in Instrumentation and Control Engineering from Calicut University . 

Vinoo Shankar Warrier, Director Product Management - Communication Products

Mr. Vinoo Shankar Warrier, has more than 15 Years experience in Design and Development of complex communication products and integration projects between disparate systems. He is responsible for Product Engineering Services business at Kalkitech. Mr.Warrier by qualification holds a Undergraduate Degree in Engineering from NIT Calicut. Prior to joining Kalkitech, Mr.Warrier worked with MICO (Bosch) India in Bangalore

Jose Thomas, Vice President, Product Management - Optimization Products

Mr. Jose Thomas, has more than 8 years experience with Kalkitech in various positions, the last being Business Head for Communication Product's business. He is responsible for charting the entire product road-map. Mr Thomas by qualification holds a Undergraduate degree in Instrumentation and Control Engineering from Calicut University . 

Johney Varghese, Vice President-Technology Services

Mr. Johney Varghese has more than 16 years of experience in Technologies,Tools and Management certifications. He has vast experience in managing large projects in Corporate Financial Services domain. He is responsible for Engineering and PandL for Technology Services Group (TSG) in Kalkitech. Mr. Johney Varghese by qualification holds a undergraduate degree in Computer Science from NIT Calicut. Prior to joining Kalkitech, Mr. Johney Varghese worked with Bank of America and in the year 2005, he joined Wachovia Corporation (USA) (now merged with Wells Fargo Corporation) as Vice President in handling IT projects in the corporate Finance Division.

Gopakumar K, Vice President - Engineering, Optimization Products

Mr. Gopakumar K, has more than 15 years of experience in various positions, the last being Business Head for Enterprise Applications business. He is responsible for software development methodologies and project management practices within Kalkitech. Mr.Gopakumar by qualification holds a Master degree in Computer Applications from NIT Calicut.

Veena Jain, Head HR 

Ms. Veena Jain has more than 10 years of experience in various positions, the last being HR Manager at HAL / Infotech Enterprises Engineering Subsidiary. She is responsible for HR, Training and Leadership development at Kalkitech. Ms Jain has an MBA in HR from Symbiosis Pune.

Anoop T, Manager Finance

Mr Anoop, has more than 8 years of experience in Audit and Accounts. He is responsible for Finance, Accounting, Statutory and Banking relationships. Mr. Anoop is a Qualified Chartered Accountant.

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.52.42
UK Pound	1	Rs.81.92
Euro	1	Rs.69.94

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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	Capability to overcome financial difficulties seems comparatively below average.	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
-	NB	New Business	-

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.