MIRA INFORM REPORT

Report Date :

04.11.2011

IDENTIFICATION DETAILS

Name :	CONSULARIS TECHNOLOGY SOLUTIONS PRIVATE LIMITED [w.e.f. 18.02.2011]
Formerly Known As :	STP SYSTEMS (INDIA) PRIVATE LIMITED
Registered Office :	78, Mistry Industrial Complex, MIDC Cross Road, Andheri (East), Mumbai-400093, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.03.2004
Com. Reg. No.:	11-145001
Capital Investment / Paid-up Capital :	Rs.0.105 Million
CIN No.: [Company Identification No.]	U72900MH2004PTC145001
TAN No.: [Tax Deduction & Collection Account No.]	MUMS36580F
PAN No.: [Permanent Account No.]	AAICS0217N
Legal Form :	Private Limited Liability Company
Line of Business :	Sale of IT Products and also providing Network Security, IT Infrastructure Solutions, Business Continuity Solutions and Managed Services.
No. of Employees :	60 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 15000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some dip in the profitability of the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre business dealings with slight caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

INFORMATION PARTED BY

Name :	Mr. Rakesh
Designation :	Manager
Contact No.:	91-9821190851
Date :	03.11.2011

LOCATIONS

Registered Office:	78, Mistry Industrial Complex, MIDC Cross Road, Andheri (East), Mumbai-400093, Maharashtra, India
Tel. No.:	91-22-67714900 / 67714930 / 67714920
Mobile No.:	91-9821190851 [Mr. Rakesh]
Fax No.:	91-22-26875312
E-Mail :	sales@consularis.co.in
Location :	Owned

DIRECTORS

As on 27.08.2011

Name :

Mr. Dineshvarma Vuppalapati

Designation :

Director

Address :

Flat No. A/33, Third Floor, Synchron City, Chandivali Farm Road, Chandivali, Mumbai-400072, Maharashtra, India

Date of Birth/Age :

16.11.1976

Date of Appointment :

12.03.2004

Din No.:

00387570

Name :

Mr. Vamsi Krishna Medarametla

Designation :

Director

Address :

E/503, Lake Forence, Lake Home Phase I, Powai Vihar, Powai, Mumbai-400076, Maharashtra, India

Date of Birth/Age :

09.02.1978

Date of Appointment :

05.07.2010

Din No.:

02857863

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U72900MH2010PTC198938	RIGHT SOLUTIONS PRIVATE LIMITED	Director	15-01-10	15-01-10	Active	NO
2	U72900MH2004PTC145001	CONSULARIS TECHNOLOGY SOLUTIONS PRIVATE LIMITED	Director	05-07-10	05-07-10	Active	NO

KEY EXECUTIVES

Name :	Mr. Rakesh
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.08.2011

Names of Shareholders	No. of Shares
Dineshvarma Vuppalapati	5000
Annapurna Vuppalapati	5000
Vamsi Medarametla	526
TOTAL	10526

As on 27.08.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Sale of IT Products and also providing Network Security, IT Infrastructure Solutions, Business Continuity Solutions and Managed Services.
Terms :
Selling :	Credit
Purchasing :	Credit

GENERAL INFORMATION

Customers :

Manufacturing Company

No. of Employees :

60 [Approximately]

Bankers :

· ICICI Bank Limited, Andheri Branch, Mumbai, Maharashtra, India

· State Bank of India

· Bank of India

Facilities :

Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Loan From Directors	1.783	0.000
Bank Overdraft		1.706
Total	1.783	1.706

Banking Relations :	--
Auditors :
Name :	L.K. Manjrekar and Company Chartered Accountants
Address :	25/200, Anand Nagar, Vakola, Santacruz (East), Mumbai-400055, Maharashtra, India
Tel. No.:	91-22-61539400
Fax No.:	91-22-61539499
E-Mail :	lkmanjrekar@gmail.com
Pan No.:	AADPM3989M

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10526	Equity Shares	Rs.10/- each	Rs.0.105 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.105	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3.751	3.687	3.225
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.856	3.787	3.325
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		1.783	1.706	1.786
TOTAL BORROWING		1.783	1.706	1.786
DEFERRED TAX LIABILITIES		0.000	0.000	0.061
TOTAL		5.639	5.493	5.172
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.980	0.734	0.677
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.056	0.248	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.534	0.241	0.536
	Sundry Debtors	8.111	7.861	3.627
	Cash & Bank Balances	0.982	1.019	2.395
	Other Current Assets	0.368	0.400	0.389
	Loans & Advances	1.410	3.852	1.850
Total Current Assets		12.405	13.373	8.797
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		5.540	2.393
	Other Current Liabilities	9.374	2.008	0.675
	Provisions	0.438	1.334	1.264
Total Current Liabilities		9.812	8.882	4.332
Net Current Assets		2.593	4.491	4.465
MISCELLANEOUS EXPENSES		0.010	0.020	0.030
TOTAL		5.639	5.493	5.172

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	52.700	43.613	43.653
		Other Income	NA	NA	0.239
		TOTAL (A)	NA	NA	43.892
Less	EXPENSES
		Purchase			32.147
		Administrative and other Expenses	NA	NA	10.807
		Variation in Stocks			0.579
		TOTAL (B)	NA	NA	43.533 [Including Financial Expenses ]
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.725	0.743
Less	FINANCIAL EXPENSES (D)		0.190	0.168
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.535	0.575	0.359
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.692	0.184	0.190
	PROFIT BEFORE TAX (E-F) (G)		0.843	0.391	0.169
Less	TAX (H)		0.778	(0.070)	0.126
	PROFIT AFTER TAX (G-H) (I)		0.065	0.461	0.043
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	3.142
	BALANCE CARRIED TO THE B/S		NA	NA	3.185
	Earnings Per Share (Rs.)		6.17	46.13	4.31

Expected Sales (2011-12) : Rs. above Rs.100.000 Millions

The above information has been parted by Mr. Rakesh.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	NA	0.10
Net Profit Margin (PBT/Sales)	(%)	1.60	0.90	0.39
Return on Total Assets (PBT/Total Assets}	(%)	5.49	2.77	1.78
Return on Investment (ROI) (PBT/Networth)		0.22	0.10	0.05
Debt Equity Ratio (Total Liability/Networth)		3.00	2.80	1.84
Current Ratio (Current Asset/Current Liability)		1.26	1.50	2.03

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Sundry Creditors	NA	5.540	2.393

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

NOTE: The registered office of the company has been shifted from Unit No. 24, Mistry Industry Complex Road, MIDC, Andheri (East), Mumbai-400093, Maharashtra, India to the present address w.e.f. 20.11.2010.

FIXED ASSETS:

· Air Conditioner

· Fax Machine

· Lan Testing Meter

· Fire Extinguisher

· Computer

· Laptop

· Printer

· Firewall Bundle

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.49.37
UK Pound	1	Rs.78.50
Euro	1	Rs.67.59

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
TOTAL		29

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.