MIRA INFORM REPORT

Report Date :

05.11.2011

IDENTIFICATION DETAILS

Name :	LIPI DATA SYSTEMS LIMITED
Registered Office :	1, Mittal Chambers, Nariman Point, Mumbai-400022, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	13.05.1992
Com. Reg. No.:	11-66759
Capital Investment / Paid-up Capital :	Rs. 49.000 Millions
CIN No.: [Company Identification No.]	U36007MH1992PLC066759
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Electromechanical and Electronics Products, Line Printers and Sub Assemblies.
No. of Employees :	800 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 2760980
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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.

INFORMATION PARTED BY

Name :	Mr. P. Sarkar
Designation :	Senior Manager Finance
Contact No.:	91-22-22882960
Date:	04.11.2011

LOCATIONS

Registered Office :	1, Mittal Chambers, Nariman Point, Mumbai – 400022, Maharashtra, India
Tel. No.:	91-22-22882960
Fax No.:	91-22-22873314
E-Mail :	bombay@lipidata.com kygupta@lipidata.com bsinghvi@lipidata.com ems@lipidata.com saurabh.shah@lipdata.in
Website :	http://www.lipidata.com
Area :	5000 sq. ft.
Location :	Owned
Factory :	Mewar Industrial Area, Madri, Udaipur-313001, Rajasthan, India
Tel. No.:	91-294-2492400
Fax No.:	91-294-2492409
Depot :	Unit No. 53-56, Building No. 1, Electronic Sadan, T. T. C. Industrial Area, MIDC, Mahape, Thane, Navi Mumbai, Maharashtra, India
Tel. No.:	91-22-27680030
Fax No.:	91-22-27670054
Sales and Service Network:	Located At: · Aurangabad · Mumbai · Vashi · Kolhapur · Nagpur · Nasik · Pune · Solapur
Branch Office :	Located At: · New Delhi · Bangalore · Chennai · Kolkata · Ahmedabad · Baroda · Belgaum · Bhopal · Calicut · Kochi · Coimbatore · Surat · Hadapsar · Thane · Jamshedpur · Jaipur · Kanpur · Kolhapur · Lucknow · Mangalore · Trichy · Vishakhapatnam

DIRECTORS

As on 12.07.2010

Name :

Mr. Piyush Singhal

Designation :

Chairman and Managing Director

Address :

109/110, Samudra Mahal, Dr. A B Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/ Age:

05.08.1934

Date of Appointment :

13.05.1992

Name :

Mr. Mukul Piyush Singhal

Designation :

Chairman and Managing Director

Address :

205, Samudra Mahal, Dr. A B Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/ Age:

09.03.1964

Date of Appointment :

13.05.1992

Din No.:

00010847

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	U67120MH1985PTC036431	SAMUK HOLDING PRIVATE LIMITED	Director	06-10-87	06-10-87	Active	NO
2	U36007MH1992PLC066759	LIPI DATA SYSTEMS LIMITED	Managing director	01-07-08	13-05-92	Active	NO
3	U65990MH1993PLC073223	COMPUTRONICS FINANCIAL SERVICES (INDIA) LIMITED	Director	29-07-93	29-07-93	Active	NO
4	U24219MH1999PTC119250	SINGHAL PESTICIDES PRIVATE LIMITED	Director	01-04-99	01-04-99	Strike off	NO
5	U51909DL2002PTC114885	CHEMICALS INTERNATIONAL MUMBAI PRIVATE LIMITED	Director	08-04-02	08-04-02	Not Available for eFiling	NO
6	U99999MH2005PTC157080	CHEMICALS INTERNATIONAL (MUMBAI) PRIVATE LIMITED	Director	26-10-05	26-10-05	Active	NO
7	U72200MH1999PTC122541	LIPI INFRASTRUCTURE PRIVATE LIMITED	Director	04-11-05	04-11-05	Active	NO
8	U67120MH2007PTC169012	LIPI SECURITIES PRIVATE LIMITED	Director	21-03-07	21-03-07	Strike off	NO
9	U01403MH2011PTC213260	AMS GOGREEN PRIVATE LIMITED	Director	10-02-11	10-02-11	Active	NO

Name :

Mr. Sameer Piyush Singhal

Designation :

Joint Managing Director

Address :

109/110, Samudra Mahal, Dr. A B Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/ Age:

22.12.1972

Date of Appointment :

01.07.2003

Din No.:

00010793

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	U24219MH1999PTC119250	SINGHAL PESTICIDES PRIVATE LIMITED	Director	01-04-99	01-04-99	Strike off	NO
2	U72200MH1999PTC122541	LIPI INFRASTRUCTURE PRIVATE LIMITED	Director	04-11-99	04-11-99	Active	NO
3	U65990MH1993PLC073223	COMPUTRONICS FINANCIAL SERVICES (INDIA) LIMITED	Director	01-07-03	01-07-03	Active	NO
4	U51909DL2002PTC114885	CHEMICALS INTERNATIONAL MUMBAI PRIVATE LIMITED	Director	01-07-03	01-07-03	Not Available for eFiling	NO
5	U36007MH1992PLC066759	LIPI DATA SYSTEMS LIMITED	Whole-time director	01-07-03	01-07-03	Active	NO
6	U99999MH2005PTC157080	CHEMICALS INTERNATIONAL (MUMBAI) PRIVATE LIMITED	Director	26-10-05	26-10-05	Active	NO
7	U67120MH1985PTC036431	SAMUK HOLDING PRIVATE LIMITED	Director	03-11-05	03-11-05	Active	NO
8	U67120MH2007PTC169012	LIPI SECURITIES PRIVATE LIMITED	Director	21-03-07	21-03-07	Strike off	NO

Name :

Mr. Vivek Singhal

Designation :

Director

Address :

24, Palam Marg, Vasant Vihar, New Delhi-110057, India

Date of Birth/ Age:

26.06.1940

Date of Appointment :

13.05.1992

Name :

Ms. Manjula Singhal

Designation :

Director

Address :

24, Palam Marg, Vasant Vihar, New Delhi – 110057, India

Date of Birth/ Age:

09.11.1944

Date of Appointment :

06.08.1992

Name :

Mr. Hemendra Narandas Shah

Designation :

Director

Address :

34, Meera, 18-L D Ruparel Marg, Malabar Hill, Mumbai-400006, Maharashtra, India

Date of Birth/ Age:

04.10.1943

Date of Appointment :

15.03.2004

Din No.:

00708180

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	U67120MH1982PTC026892	LYON INVESTMENT AND INDUSTRIES PRIVATE LIMITED	Director	12-04-82	12-04-82	-	Active	NO
2	L51900MH1982PLC026174	ELF TRADING AND CHEMICAL MANUFACTURING LIMITED	Director	13-07-84	13-07-84	-	Active	NO
3	U25200MH1985PTC037195	A V M TRADE AND FINANCE PRIVATE LIMITED	Director	01-08-94	01-08-94	-	Active	NO
4	U36007MH1992PLC066759	LIPI DATA SYSTEMS LIMITED	Director	15-03-04	15-03-04	-	Active	NO
5	U65990MH1990PTC056497	MUSTANG INVESTMENTS PRIVATE LIMITED	Additional director	07-07-05	07-07-05	21-04-06	Active	NO
6	U92190MH2008PTC181322	IMUSTI (INDIA) PRIVATE LIMITED	Director	21-04-08	21-04-08	-	Active	YES

Name :

Mrs. Preeti Mukul Singhal

Designation :

Director

Address :

205, Samudra Mahal, Dr. A B Road, Worli, Mumbai-400018, Maharashtra, India

Date of Birth/ Age:

13.11.1967

Date of Appointment :

06.09.2004

Din No.:

00272738

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	U51900MH1984PTC034049	TAPI AGENCIES PRIVATE LIMITED	Director	09-10-03	09-10-03	16-11-07	Strike off	NO
2	U36007MH1992PLC066759	LIPI DATA SYSTEMS LIMITED	Director	06-09-04	06-09-04	-	Active	NO
3	U72200MH1999PTC122541	LIPI INFRASTRUCTURE PRIVATE LIMITED	Director	10-11-04	10-11-04	-	Active	NO
4	U99999MH2005PTC157080	CHEMICALS INTERNATIONAL (MUMBAI) PRIVATE LIMITED	Director	26-10-05	26-10-05	-	Active	NO
5	U51909DL2002PTC114885	CHEMICALS INTERNATIONAL MUMBAI PRIVATE LIMITED	Director	21-12-06	21-12-06	-	Not Available for eFiling	NO
6	U65990MH1993PLC073223	COMPUTRONICS FINANCIAL SERVICES (INDIA) LIMITED	Additional director	27-02-09	27-02-09	-	Active	NO

Name :

Mr. Pradyumna Natvarlal Shah

Designation :

Director

Address :

Shanti Niketan, 5th Floor, Block No. 51-52, Plot No. 96, Prabhat Colony Road, No. 1, Santacruz (East), Mumbai-400055, Maharashtra, India

Date of Birth/ Age:

01.01.1929

Date of Appointment :

15.05.1998

Date of Ceasing:

01.04.2011

Din No.:

00096793

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	L24211RJ1946PLC000469	PI INDUSTRIES LIMITED	Director	07-09-90	07-09-90	-	Active	NO
2	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Director	30-09-92	30-09-92	-	Active	NO
3	L99999MH1965PLC013392	TAPARIA TOOLS LIMITED	Director	12-01-96	12-01-96	-	Active	NO
4	U74899RJ1987PLC029106	SECURE METERS LIMITED	Director	18-08-97	18-08-97	-	Active	NO
5	U36007MH1992PLC066759	LIPI DATA SYSTEMS LIMITED	Director	15-05-98	15-05-98	01-04-11	Active	NO
6	U29299RJ1971PLC001379	WOLKEM INDIA LIMITED	Director	28-09-02	28-09-02	-	Active	NO
7	U65992MH2003PTC139955	LIC NOMURA MUTUAL FUND TRUSTEE COMPANY PRIVATE LIMITED	Director	21-12-03	21-12-03	08-03-11	Active	NO
8	L17119PN1990PLC058139	PRANAVADITYA SPINNING MILLS LIMITED	Additional director	31-07-07	31-07-07	-	Active	NO

Name :

Mr. Nimish Gulabrai Pandya

Designation :

Director

Address :

504-A, Neelkanth, 5th Floor, 98, Marine Drive, Mumbai-400002, Maharashtra, India

Date of Birth/ Age:

14.09.1953

Date of Appointment :

16.12.2002

Date of Ceasing:

12.01.2009

Din No.:

00326966

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	U36007MH1992PLC066759	LIPI DATA SYSTEMS LIMITED	Director	16-12-02	16-12-02	12-01-09	Active	NO
2	L18101MH1992PLC065136	KEWAL KIRAN CLOTHING LIMITED	Director	14-11-05	14-11-05	-	Active	NO
3	L10889MH1957PLC010889	GARWARE POLYESTER LIMITED	Director	18-12-07	31-10-07	12-01-09	Active	NO

Name :

Mrs. Sunita Piyush Singhal

Designation :

Director

Address :

109/110, Samudra Mahal, Dr. A B Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/ Age:

09.09.1939

Date of Appointment :

10.03.1994

Date of Ceasing:

12.02.2009

Din No.:

00010823

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	U67120MH1985PTC036431	SAMUK HOLDING PRIVATE LIMITED	Director	06-10-87	06-10-87	12-02-09	Active	NO
2	U65990MH1993PLC073223	COMPUTRONICS FINANCIAL SERVICES (INDIA) LIMITED	Director	09-03-94	09-03-94	12-02-09	Active	NO
3	U36007MH1992PLC066759	LIPI DATA SYSTEMS LIMITED	Director	10-03-94	10-03-94	12-02-09	Active	NO
4	U51909DL2002PTC114885	CHEMICALS INTERNATIONAL MUMBAI PRIVATE LIMITED	Director	10-11-04	10-11-04	-	Not Available for eFiling	NO
5	U72200MH1999PTC122541	LIPI INFRASTRUCTURE PRIVATE LIMITED	Director	10-11-04	10-11-04	12-02-09	Active	NO
6	U99999MH2005PTC157080	CHEMICALS INTERNATIONAL (MUMBAI) PRIVATE LIMITED	Director	26-10-05	26-10-05	12-02-09	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 12.07.2010

Names of Shareholders	No. of Shares
Singhal Sunita Jointly with Chemicals International (Mumbai) Private Limited, India	10
Singhal Mukul Jointly with Chemicals International (Mumbai) Private Limited, India	10
Samuk Holding Private Limited, India	400000
Mukul Singhal	540000
Sameer Singhal	800000
Mukul Singhal Jointly With Preeti Singhal	460000
Sameer Singhal Jointly with Shilpa Singhal	200000
Chemicals Internationals ( Mumbai) Private Limited, India	2500060
Total	4900080

As on 12.07.2010

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	59.18
Directors or relatives of directors	40.82
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Electromechanical and Electronics Products, Line Printers
Products :	Line Matrix Printers Serial Dot Matrix Printers Passbook Printers Ink Jet Printers Smart Card Printers and Solution Pos - Thermal/Impact Printers Barcode Scanners Portable Data Terminals Spare and Accessories Continuous Stationery LaserJet Printers and Multifunction Devices Uninterruptible Power Supply Disc Publishers Banking Products Bank Passbook Printers Remanufacture of used toner Cartridges for laser printers
Agencies Held :	Data Products Group Hitachi Koki, Japan Tally Limited Printer Systems International, Germany
Exports :
Products :	High Speed Printers
Countries :	Italy USA Germany
Imports :
Products :	Raw Material
Countries :	Japan UK London USA
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Hardware	Nos.	30200	30200	8399
Sub Assembly	Nos.	NA	100000	--
Cartridges	Nos.	NA	100000	5726

GENERAL INFORMATION

No. of Employees :

800 (Approximately)

Bankers :

• State Bank of Bikaner and Jaipur, Chetak Circle, Udaipur-313001, Rajasthan, India
• Canara Bank, Overseas Branch, Nariman Point, Mumbai – 400021, Maharashtra, India

Facilities :

Secured Loans	31.03.2010 (Rs. In Millions	31.03.2009 (Rs. In Millions)
From Bank – Working Capital
State Bank of Bikaner and Jaipur	96.337	52.362
Corporation Bank	54.993	56.705
(All facilities in Pari-Pasu -Secured against Hypothecation of Raw material, Stock-in-Process, Finished goods , Book debts and other current Assets and Collateral security on the Fixed Assets by way of first charge)
Secured against Mortgage of Building
ICICI Home Finance Co. Ltd. (Guaranteed by two directors)	11.875	15.418
Under Hire Purchase of Vehicles	1.198	2.965
HDFC Bank Limited (secured against specific properties and guaranteed by four directors)	83.147	89.120
Total	247.550	216.570

Unsecured Loans	31.03.2010 (Rs. In Millions	31.03.2009 (Rs. In Millions)
Fairgrowth Financial Services Limited, Mumbai	0.118	0.080
Total	0.118	0.080

Banking Relations :	---
Auditors :
Name :	M. Bhandari and Company Chartered Accountants
Address :	Beawar-305901, Rajasthan, India
Holding Company :	Chemicals International Mumbai Private Limited CIN: U51909DL2002PTC114885
Associates :	Samuk Holding Private Limited, Mumbai P. P. Singhal and Company, Mumbai Chemicals International Mumbai Private Limited, Mumbai Lipi Infrastructure Private Limited, Mumbai Lipi Securities Private Limited Computronics Financial Services (India) Limited, Mumbai, Maharashtra, India
Sister Concerns :	Singhal Pesticides, Agra Line of Business - Manufacturer of agricultural and farm products. Lipi Infosoft Limited, Navi Mumbai Line of Business – developing device drivers, E-commerce Solutions.

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1,00,00,000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed Capital :

No. of Shares	Type	Value	Amount
63,50,080	Equity Shares	Rs.10/- each	Rs. 63.500 Millions

Paid-up Capital:

No. of Shares	Type	Value	Amount
49,00,080	Equity Shares	Rs.10/- each	Rs. 49.000 Millions

Note

• out of the above 22,50,000 equity shares of Rs. 10/- each aggregating to Rs. 2,25,00,000/- have been issued for consideration other than cash

• out of above 25,000,80 equity shares of Rs. 10/- each are held by Chemical International Mumbai Private Limited- a holding company

INANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		49.000	49.000	54.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		641.245	558.867	508.658
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		690.245	607.867	562.658
LOAN FUNDS
1] Secured Loans		247.550	216.570	220.519
2] Unsecured Loans		0.118	0.080	1.233
TOTAL BORROWING		247.668	216.650	221.752
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		937.913	824.517	784.410
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		331.845	271.184	263.130
Capital work-in-progress		11.601	98.245	67.390
INVESTMENT		5.406	12.110	11.993
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	240.458	203.606	247.659
	Sundry Debtors	460.253	397.270	364.943
	Cash & Bank Balances	74.889	71.849	53.688
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	75.245	55.070	51.732
Total Current Assets		850.845	727.795	718.022
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	217.233	246.235	225.908
	Other Current Liabilities	10.076	6.195	17.038
	Provisions	34.475	32.387	33.179
Total Current Liabilities		261.784	284.817	276.125
Net Current Assets		589.061	442.978	441.897
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		937.913	824.517	784.410

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1651.595	1834.282	1633.120
		Other Income	36.255	12.432	15.869
		TOTAL	1687.850	1846.714	1648.989
Less	EXPENSES
		Raw Material Consumed	523.260	520.818	467.875
		Purchases	631.296	751.189	601.639
		Employees Remuneration and Benefits	161.574	170.010	148.917
		Manufacturing and Processing Expenses	26.388	50.689	9.602
		Other Expenses	171.115	191.661	201.599
		Increase/Decrease in stock	(8.743)	10.097	(0.585)
		TOTAL	1504.890	1694.464	1429.047
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		182.960	152.250	219.942
Less	FINANCIAL EXPENSES		26.470	33.540	28.228
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		156.490	118.710	191.714
Less/ Add	DEPRECIATION/ AMORTISATION		42.439	38.133	31.035
	PROFIT BEFORE TAX		114.051	80.577	160.679
Less	TAX		22.100	14.300	32.100
Add	EXCESS PROVISION WRITTEN BACK		0.019	2.285	0.654
	EXCESS PROVISION WRITTEN BACK – TAXATION		0.110	0.000	(0.413)
	EXCESS PROVISION GRATUITY WRITTEN BACK		1.769	0.000	0.000
	PRIOR PERIOD ADJUSTED (NET)		(0.005)	0.373	0.705
	PROFIT AFTER TAX		93.844	68.935	129.525
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		394.367	346.306	244.113
Less	APPROPRIATIONS
		Proposed Dividend on Equity Shares	9.800	9.800	12.250
		Provision for Tax on Proposed Dividend	1.666	1.666	2.082
		Transfer to General Reserve	15.000	9.408	13.000
	BALANCE CARRIED TO THE B/S		461.745	394.367	346.306
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.355	0.762	NA
		Commission Earnings	3.246	4.904	NA
	TOTAL EARNINGS		3.601	5.666	NA
	IMPORTS
		Raw Materials	381.573	345.873	NA
		Finished Goods, Hardware Purchases and Spares	150.937	210.444	NA
		Capital Goods	6.514	12.253	NA
	TOTAL IMPORTS		539.024	568.570	NA
	Earnings Per Share (Rs.)		18.77	13.53	23.81

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	5.56	3.73	7.85
Net Profit Margin (PBT/Sales)	(%)	6.90	4.39	9.83
Return on Total Assets (PBT/Total Assets}	(%)	9.64	8.06	16.37
Return on Investment (ROI) (PBT/Networth)		0.16	0.13	0.28
Debt Equity Ratio (Total Liability/Networth)		0.73	0.82	0.88
Current Ratio (Current Asset/Current Liability)		3.25	2.55	2.60

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)	31.03.2008 (Rs. in millions)
Sundry Creditors For Goods Supplied	158.486	198.859	165.658
Sundry Creditors For Others	58.747	47.376	60.250
Total	217.233	246.235	225.908

BUSINESS OPERATIONS:

The Year has closed with a gross revenue of Rs.1687.800 Millions, the revenue from sales and service @ Rs. 1601.600 Millions as against Rs. 1846.700 Millions and Rs. 1834.300 Millions respectively indicating a decrease of 9.42% and 9.96% respectively. The Annual Maintenance Contract revenue closed at Rs.149.800 Millions as against Rs.147.700 Millions. Similarly, the company has earned pre tax profit of Rs. 114.100 Millions as against Rs.80.600 Millions and post tax profit of Rs.92.100 Millions as against Rs.66.400 Millions in the previous year.

During the year, company's income from sales and service has shown decrease since economy is still reeling under recession but the indications are positive that growth will follow soon. From the financial statement that the company has controlled the cost and also structured the resources in such a way that in spite of decrease in the revenue, profit has gone up from Rs.80.500 Millions to Rs. 114.000 Millions.

There is a thrust in implementing various IT programs, the company is hopeful that the current year will close the business operations with decent growth. However, having regard to inflationary pressure in economy, The Directors strike a cautious note about the profitability in current year.

FORM 8

Corporate identity number of the company

U36007MH1992PLC066759

Name of the company

LIPI DATA SYSTEMS LIMITED

Address of the registered office or of the principal place of business in India of the company

1, Mittal Chambers, Nariman Point, Mumbai – 400022, Maharashtra, India

This form is for

Modification of charge

Type of charge

Immovable property

Particular of charge holder

State Bank of Bikaner and Jaipur, Chetak Circle, Udaipur-313001, Rajasthan, India

Email

sbbj10209@sbbj.co.in

Nature of instrument creating charge

Memorandum of entry,dated 14.07.2010

Date of instrument Creating the charge

14.07.2010

Amount secured by the charge

Rs. 483.500 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest

Interest and commission as per the terms and conditions of the sanction conveyed by each consortium member Bank (SBBJ and Corporation Bank) which is subject to change from time to time/RBI Guidelines.

Terms of Repayment

Working capital (SBBJ and Corporation Bank) Repayable on demand.

Margin

Raw materials - 25%

Finished goods - 25%

Packing materials - 25%

Goods in transit - 25%

Stores and Consumable spares - 30%

Book debts (Cover 90 days) - 30%

Bank Guarantee - 5%

Extent and Operation of the charge

The aggregate credit facilities of Rs.483.500 millions (SBBJ- Rs. 223.500 millions Plus Corporation Bank- Rs.260.000 millions) to be secured by 1st pari passu charge over the immovable property being plot of land measuring 3.9 acres and building Village Purohito Ki Mandri, Khsara no.749 and 753, Tehsil-Girwa, Dist-Udaipur (Rajasthan), more particularly of the properties described in memorandum of entry enclosed, with intent to create security thereon for the due repayment

Others

The credit facilities secured as under (Rs. in Millions)

LIMITS	SBBJ	Corporation Bank	Total
Cash credit	120.000	80.000	200.000
Letter of credit	Nil	120.000	120.000
Bank Guarantee	100.000	40.000	140.000
SLC	23.500	Nil	23.500
Total	243.500	240.000	483.500

Particulars of the property charged

1st pari passu charge over the immovable property being plot of land measuring 3.9 acres and building Village Purohito Ki Mandri,Khsara no.749 and 753, Tehsil-Girwa, Dist-Udaipur (Rajasthan).

Date of instrument modifying the charge

12.07.2010

Particulars of the present modification

By virtue of memorandum of entry, dated 14.07.10,The existing working capital facilities (fund based and non fund based) have been modified and is now being enhanced to Rs.483.5 millions as under

(a) SBBJ - (i) CC -Rs.120.000 millions (ii) BG -Rs.100.000 millions (SLC - Rs.23.500 millions = Rs.243.500 millions

(b) Corporation Bank (i) CC -Rs.80.000 millions (ii) LC -Rs.120.000 millions (iii) BG -Rs.40.000 millions = Rs.240.000 millions

Now, the amount of charge on immovable properties extend to aggregate of Rs.483.500 millions

Corporate identity number of the company	U36007MH1992PLC066759
Name of the company	LIPI DATA SYSTEMS LIMITED
Address of the registered office or of the principal place of business in India of the company	1, Mittal Chambers, Nariman Point, Mumbai-400021, M