MIRA INFORM REPORT

Report Date :

25.11.2011

IDENTIFICATION DETAILS

Name :	SAHAJANAND LASER TECHNOLOGY LIMITED (w.e.f 28.02.2006)
Formerly Known As :	SHREEJI LASER TECHNOLOGY PRIVATE LIMITED
Registered Office :	E-30, G.I.D.C., Electronics Estate, Sector – 26, Gandhinagar-382028, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	23.04.2002
Com. Reg. No.:	04-40659
Capital Investment/ Paid-up Capital:	Rs. 203.682 Millions
CIN No.: [Company Identification No.]	U30007GJ2002PLC040659
TAN No.: [Tax Deduction & Collection Account No.]	SRTS00836D
PAN No.: [Permanent Account No.]	AAGCS1983B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Importer and Exporter of Laser Marking and Engraving, Laser Cutting, Laser Welding, Solar Cell Scribing / Micro-Machining System in Industrial Segment.
No. of Employees:	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 2000000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an 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

INFORMATION PARTED BY

Name :	Ms. Pooja Majithia
Designation :	Company Secretary
Contact No.:	91-9099040080
Date :	17.11.2011

LOCATIONS

Registered / Corporate Office / Factory 1 / Marketing:	E-30, G.I.D.C., Electronics Estate, Sector – 26, Gandhinagar-382028, Gujarat, India
Tel. No.:	91-79-23241379/ 23287461 – 68
Mobile No.:	91-9099040080 (Ms. Pooja Majithia)
Fax No.:	91-79-23241465/ 23287470
E-Mail :	arvindp@sahajanandlaser.com anita@sahajanandlaser.com info@sahajanandlaser.com service@sahajanandlaser.com sales@sahajanandlaser.com sltlcs@sahajanandlaser.com
Website :	http://www.sahajanandlaser.com
Area :	10000 Sq. ft.
Location :	Owned
Head Office / Marketing Office :	41, New York Tower – 1, Near Thaltej Cross Road, S. G. Highway, Ahmedabad – 380054, Gujarat, India
Tel. No.:	91-79-26854537 / 38
Fax No.:	91-79-26854539
E-Mail :	sales@sahajanandlaser.com
Location :	Owned
Factory 2 [SEZ WORKS] :	Plot No. 29 and 58, Surat Special Economic Zone, Sachin-394230, District Surat, Gujarat, India
Tel. No.:	91-261-2568447-48
Fax No.:	91-261-2398419
Branch Office :	Located at : Mumbai Surat Pune Ahmedabad UK USA China Germany

DIRECTORS

As on 29.09.2011

Name :	Mr. Arvind Lavji Patel
Designation :	Managing Director
Address :	Plot – 4, Manichandra Society, Part – I, Near Surdhara Circle, Thaltej, Ahmedabad – 380054, Gujarat, India
Date of Birth/Age :	07.08.1958
Qualification :	B.E.
Date of Appointment :	23.04.2002
DIN NO:	00085612

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	U72200GJ2000PTC038086	Shajanand Software Private Limited	Director	25/05/2000	25/05/2000	20/10/2007	Active	NO
2	U31200GJ2000PTC038335	Satav Machetronics Private Limited	Director	10/7/2000	10/7/2000	20/10/2007	Active	NO
3	U30007GJ2002PLC040659	Sahajanand Laser Technology Limited	Managing director	29/08/2007	23/04/2002	-	Active	NO
4	U33112GJ2003PTC043027	Lancer Medical Technology Private Limited	Director	8/10/2003	8/10/2003	-	Active	NO
5	U73100GJ2006PTC047619	Alp Multi-Tech Private Limited	Director	30/01/2006	30/01/2006	-	Active	NO
6	U93090GJ2006GAP048894	Achme Lasertech Private Limited	Director	14/08/2006	14/08/2006	1/10/2009	Active	NO
7	U72900GJ2007PTC049696	Jasmine Netsolve Private Limited	Director	2/1/2007	2/1/2007	-	Active	NO
8	U29299GJ2008PTC054210	Global Microwave Private Limited	Director	16/06/2008	16/06/2008	-	Active	NO
9	U40100GJ2008PLC053141	Slt Energy Limited	Director	1/2/2010	1/2/2010	-	Active	NO
10	U29100GJ2010PTC059737	S V Tronics Assembling (India) Private Limited	Director	2/3/2010	2/3/2010	-	Active	NO

Name :	Mr. Dinesh Lavji Patel
Designation :	Whole Time Director
Address :	17, Vitthalnagar Society, Camp Road, Shahibaug, Ahmedabad – 380004, Gujarat, India
Date of Birth/Age :	13.08.1968
Date of Appointment :	23.04.2002
DIN NO:	00091594

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	U72200GJ2000PTC038086	Shajanand Software Private Limited	Director	25/05/2000	25/05/2000	-	Active	NO
2	U30007GJ2002PLC040659	Sahajanand Laser Technology Limited	Whole-time director	29/08/2007	23/04/2002	-	Active	NO
3	U33112GJ2003PTC043027	Lancer Medical Technology Private Limited	Director	8/10/2003	8/10/2003	-	Active	NO
4	U29299GJ2008PTC054210	Global Microwave Private Limited	Director	16/06/2008	16/06/2008	-	Active	NO

Name :	Mr. Ashwin Jerabhai Babaria
Designation :	Director
Address :	435, Shady Lane, South Lake, Texas – 76092, USA
Date of Birth/Age :	01.06.1963
Date of Appointment :	15.05.2006
DIN NO:	00359466

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	U65910GJ1992PTC017573	Nyalkaran Industries Private Limited	Director	19/05/1994	19/05/1994	2/7/2009	Active	NO
2	U30007GJ2002PLC040659	Sahajanand Laser Technology Limited	Director	15/05/2006	15/05/2006	-	Active	NO

Name :	Mr. Dhirajlal Jerambhai Babaria
Designation :	Director
Address :	435, Shady Lane, South Lake, Texas – 76092, USA
Date of Birth/Age :	10.03.1949
Date of Appointment :	15.05.2006
DIN NO:	00689305

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	U31909GJ1985PTC007927	Lila Electronics Private Limited	Director	27/06/1985	27/06/1985	6/6/2011	Active	NO
2	U65910GJ1992PTC017573	Nyalkaran Industries Private Limited	Director	19/05/1994	19/05/1994	2/7/2009	Active	NO
3	U30007GJ2002PLC040659	Sahajanand Laser Technology Limited	Director	15/05/2006	15/05/2006	-	Active	NO

Name :	Mr. Nilesh Rajanikant Desai
Designation :	Director
Address :	1, Manekbaug Society, S. M. Road, Ahmedabad – 380015, Gujarat, India
Date of Birth/Age :	06.07.1960
Date of Appointment :	15.05.2006
DIN NO:	00414747

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	U74210GJ1999PTC035990	Shubh Labh Consultancy Private Limited	Director	12/5/1999	12/5/1999	15/11/2010	Active	NO
2	U30007GJ2002PLC040659	Sahajanand Laser Technology Limited	Director	15/05/2006	15/05/2006	-	Active	NO
3	U72900GJ2000PTC038471	Shubh Technologies Network Private Limited	Director	1/9/2008	7/8/2008	15/11/2010	Active	NO

Name :	Mr. Sudhakar Chintaman Sahasrabudhe
Designation :	Director
Address :	Amarasharanam, Khare Town, Dharampeth, Nagpur - 440010, Maharashtra, India
Date of Birth/Age :	05.07.1942
Date of Appointment :	15.01.2008
DIN NO:	00114802

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	L40300MH1987PLC045657	Gtl Limited	Director	5/9/1998	5/9/1998	-	Active	NO
2	U30007GJ2002PLC040659	Sahajanand Laser Technology Limited	Director	15/09/2008	15/01/2008	-	Active	NO
3	U74990GJ2000PTC037367	Gvfl Trustee Company Private Limited	Director	30/08/2008	20/05/2008	-	Active	NO

Name :	Mr. Maulik Arvindbhai Patel
Designation :	Whole Time Director
Address :	Plot – 4, Manichandra Society, Part – I, Near Surdhara Circle, Thaltej, Ahmedabad – 380054, Gujarat, India
Date of Appointment :	01.04.2009
DIN NO:	00359678

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	U31200GJ2000PTC038335	Satav Machetronics Private Limited	Director	19/06/2008	20/10/2007	-	Active	NO
2	U40100GJ2008PLC053141	Slt Energy Limited	Director	4/3/2008	4/3/2008	-	Active	NO
3	U29299GJ2008PTC053877	Diamond Technocrates Company Private Limited	Director	14/05/2008	14/05/2008	-	Active	NO
4	U30007GJ2002PLC040659	Sahajanand Laser Technology Limited	Whole-time director	1/2/2010	1/4/2009	-	Active	NO
5	U29100GJ2010PTC059737	S V Tronics Assembling (India) Private Limited	Director	2/3/2010	2/3/2010	-	Active	NO

Name :	Mr. Mihirkumar Arvindbhai Joshi
Designation :	Nominee Director
Address :	37/A, Vrajraj Co-operative Housing Society, Gala Gymkhana Road, Bopal, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	12.06.1977
Date of Appointment :	19.08.2009
DIN NO:	00823615

Other Directorship:

.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	U72200GJ2006PTC048130	Rapidradio Solutions Private Limited	Additional director	22/08/2007	22/08/2007	-	Active	NO
2	L99999GJ1987PLC009768	20 Microns Limited	Nominee director	27/08/2009	23/08/2007	22/10/2011	Active	NO
3	U32105GJ2004PLC044611	Pegasus Semiconductor Limited	Nominee director	20/04/2009	20/04/2009	-	Active	NO
4	U51496GJ1997PLC032100	Aura Herbal Textiles Limited	Nominee director	29/07/2009	29/07/2009	-	Active	NO
5	U24239GJ2008PLC053030	Amrita Therapeutics Limited	Nominee director	31/07/2009	31/07/2009	-	Active	NO
6	U15310GJ2000PLC037566	Net4nuts Limited	Nominee director	31/07/2009	31/07/2009	-	Active	NO
7	U30000GJ2000PLC038530	E Cube India Solutions Limited	Nominee director	31/07/2009	31/07/2009	-	Active	NO
8	U24230GJ1989PLC013000	Century Pharmaceuticals Limited	Nominee director	31/07/2009	31/07/2009	-	Active	NO
9	U30007GJ2002PLC040659	Sahajanand Laser Technology Limited	Nominee director	19/08/2009	19/08/2009	-	Active	NO
10	U72200GJ1988PLC010830	E-INFOCHIPS LIMITED	Nominee director	3/11/2009	3/11/2009	-	Active	NO
11	U09211KA2004PTC034212	I-Nurture Education Solutions Private Limited	Nominee director	4/1/2010	4/1/2010	-	Active	NO
12	U72200KA2007PTC042335	Fairtech Engineering Services Private Limited	Nominee director	30/09/2010	22/01/2010	-	Active	NO
13	U74990GJ2000PTC037367	Gvfl Trustee Company Private Limited	Director	15/07/2011	19/11/2010	-	Active	NO
14	U24100GJ2007PLC051697	Sebacic India Limited	Director	30/09/2011	31/07/2011	-	Active	NO

Name :	Mr. Dilip Kevalram Pankhi
Designation :	Nominee Director
Address :	7, Das Bunglows, Near Bodakdev Fire Station, Bodakdev, Vastrapur, Ahmedabad – 380054, Gujarat, India
Date of Appointment :	31.05.2010
DIN NO:	03009105

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	U30007GJ2002PLC040659	Sahajanand Laser Technology Limited	Nominee director	31/05/2010	20/03/2010	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Pooja Majithia
Designation :	Company Secretary
Address :	28, Vrundawan Bunglow, Opposite Nid, Kudasan, Gandhinagar – 382421, Gujarat, India
Date of Appointment :	25.12.2009
PAN NO:	AFFPM4444L

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2011)

Names of Shareholders	No. of Shares
Arvindbhai Lavjibhai Patel	9840066
Dineshbhai Lavjibhai Patel	593633
Maulik Arvindbhai Patel	15208
Lavjibhai Pragjibhai Patel	527450
Jyotsanaben Arvindbhai Patel	547500
Rekhaben Dineshbhai Patel	553333
Dhirajlal J. Babaria	3094219
Ashwinbhai J. Babria	3073385
Dineshbhai Lavjibhai Patel - HUF	140000
ALP Multi – Tech Private Limited	50000
GVFL Trustee company Private Limited	1933333
Hasmukhbhai R. Patel	100
Total	20368227

Equity Share Break up (Percentage of Total Equity)

(AS ON 29.09.2011)

Category	Percentage
Venture Capital	9.49
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	30.28
Directors of relatives of directors	60.23
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Importer and Exporter of Laser Marking and Engraving, Laser Cutting, Laser Welding, Solar Cell Scribing / Micro-Machining System in Industrial Segment.

Products :

Product Description	Item Code
Engineering Company	85158090

• Laser Cutting System
• Laser Marking System
• Laser Welding System
• Rough Diamond Planning and Marking System
• Laser Solar Scribing Machine
• Laser Diamond Sawing System
• Laser Diamond Bruiting System
• Laser Diamond Blocking- Bruiting System
• Auto Diamond Blocking and Polishing System
• Non – Metal Laser Marking Machine
• Laser Services

Exports :

Products :

· Laser Cutting and Marking Machines

· Rough diamond planning and marking system

· Laser diamond sawing system diamond bruiting system

· Laser diamond blocking system

· Laser Diamond bruiting systems

· Auto polishing systems

· Jewellery Hallmarking and Welding

Industrial

· Laser Cutting

· Laser Marking and Laser Welding Systems with Automation Cell Cutting

· CNC PCB Drilling

· CNC Engraving

· CNC Wood Router

· Micro-Post

Countries :

· Bangkok

· Bangladesh

· UK

· Belgium

· USA

· Russia

· Sri Lanka

· Thailand

· Namibia

· Botswana

· Saudi Arabia

· Iran

· Dubai

· Switzerland

· Angola

· Israel

· Armenia

· China

· Poland

· South Africa

· Singapore

Imports :

Products :

· Components

· Raw Materials

· Optics

Countries :

· Switzerland

· UK

· Germany

· Europe

· China

· USA [Components and spares like head, lamps, rods, etc]

Terms :

Selling :

L/C

Purchasing :

L/C

GENERAL INFORMATION

Suppliers :

· Cambridge Technology Inc., USA

· TJS Inc., USA

· Cascade Laser Corporation, Los Angels, USA

· Quantronix Corporation, USA

· BC Electronics Inc.

· Dynaco Corporation, USA

· Acuity Research Inc., USA

· PRC Corporation, USA

· Rodenstock Precision Optics, Germany

· IPG Laser, Germany

· Projectina, Switzerland

· Ophir Optronics, Israel

Customers :

End Users, Individuals and OEM’s

· Res Photovaltaic Limited, Hyderabad, Andhra Pradesh

· E.C.I.L., Hyderabad, Andhra Pradesh

· Miranda Tools, Ankleshwar, Gujarat

· Phillips India Limited, Pune, Maharashtra

· ATIRA, Ahmedabad, Gujarat

· Tata Iron and Steel Company Limited, Kharagpur, Madhya Pradesh

· Perfect Circle, Nasik, Maharashtra

· Nityanand Engravers, Rajkot, Rajasthan

· Addison Tools, Chennai, Tamilnadu

· National Process, Ahmedabad, Gujarat

· Paddhary Wood Works (Ajanta Clocks), Rajkot, Rajasthan

· Cummins Limited, Pune, Maharashtra

· Impex Electronics Private Limited, Gandhinagar, Gujarat

· Birla Kennametals, Aurangabad, Maharashtra

· Shri Ram Piston and Rings Limited, Ghaziabad, Uttar Pradesh

· Royal Touch Funiture, Rajkot, Rajasthan

· ITI Limited, Mankapur, Uttar Pradesh

· Sachitanand Precision Tooling Centre, Bangalore, Karnataka

· Laser Lab, Delhi

· Shiv Laser Tech, Baroda, Gujarat

· IP Rings Limited, Chennai, Tamilnadu

· Space Application Centre (SAC), ISRO, Ahmedabad, Gujarat

· Wendt India Limited, Hosur, Tamilnadu

· Bharat Heavy Electricals Limited, Bhopal, Madhya Pradesh

· Ajanta Clocks, Paddhari, Himachal Pradesh

· Classic Industries, Ahmedabad, Gujarat

· Gold Welding Machine : Goldium International, Mumbai

· Birla Canameter

· HPL Limited

· B C Components India Limited, Pune, Maharashtra

· Perfect Circle Victor Limited - Now Known As Perfect Circle India Limited

· Websel SL Energy Systems Limited

· Jadavpur University, Kolkata, West Bengal

· Gujarat Gold Centre, Rakhial, Ahmedabad, Gujarat

No. of Employees :

500 (Approximately)

Bankers :

IDBI Bank Limited, IDBI Complex, Near Lal Bunglow, Opposite Muncipal Staff Quarters, Off C.G. Road, Ahmedabad – 380006, Gujarat, India

Facilities :

Secured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
A] Cash Credit facility	122.762	133.083
B] Term Loan
- For China Project	4.040	6.071
- For Expansion Project	56.596	25.263
- For Vehicles and Others	0.320	1.049
From Technology Development Board (TDB)	26.000	0.000
Total	209.718	165.466

NOTE:

A] Cash credit facility is secured by hypothecation of Company's entire current assets including stocks of raw materials, stocks in process, finished goods. Sires and spares/ bills/ book debts / receivables and other current assets.

Collateral security by way of mortgage (factory land and building of the company

B] Term loans are Secured:

First charge over building and other fixed assets of the new facility of the Company and Equitable Mortgage over factory land and building 01the Company.

Hypothecation of Vehicles.

Loan from TDB is secured against pari passu with a bank on building and machinery under TDB project and second charge over other building and machinery.

All the above facility are collaterally secured by managing director and a director.

Banking Relations :	--
Auditors :
Name :	Manubhai and Company Chartered Accountants
Address :	2^nd Floor, B Wing, Premium House, Navrangapura, Ahmedabad – 380009, Gujarat, India
E-Mail :	info@manubhaico.com
Website:	http://www.manubhaico.com
PAN NO:	AAFFM2086H
Associates:	· Shreeji Services · Sahajanand Software Private Limited
Subsidiaries:	· Satav Machetronics Private Limited [CIN No.: U31200GJ2000PTC038335] · Global Microwave Private Limited [CIN No.: U29299GJ2008PTC054210] · SLT Guangzhou Jewellery Company Limited · Sahajanand Laser Technology and Handelsgesellschaft MBH · Sahajanand Laser Technology USA INC · Lancer Medical Technology Private Limited [CIN No.: U33112GJ2003PTC043027]

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20368227	Equity Shares	Rs.10/- each	Rs.203.682 Millions

NOTE:

Out of above

· 6869667 equity shares allotted as fully paid up Bonus Shares by Capitalization of surplus in profit and loss account

· 671666 equity shares allotted for consideration other

FINANCIAL 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		203.682	203.682	192.682
2] Share Application Money		1.247	1.200	1.200
3] Reserves & Surplus		351.593	329.073	215.668
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		556.522	533.955	409.550
LOAN FUNDS
1] Secured Loans		209.718	165.466	115.923
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		209.718	165.466	115.923
DEFERRED TAX LIABILITIES		0.000	6.930	4.138
TOTAL		766.240	706.351	529.611
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		179.208	129.986	121.662
Capital work-in-progress		107.390	93.543	13.716
INVESTMENT		78.838	111.023	44.545
DEFERREX TAX ASSETS		0.024	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	147.578	170.078	218.607
	Sundry Debtors	231.934	278.366	345.151
	Cash & Bank Balances	30.443	24.776	86.765
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	96.055	74.178	68.337
Total Current Assets		506.010	547.398	718.860
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	56.505	119.584	277.143
	Other Current Liabilities	44.921	52.236	62.033
	Provisions	4.104	4.229	32.595
Total Current Liabilities		105.530	176.049	371.771
Net Current Assets		400.480	371.349	347.089
MISCELLANEOUS EXPENSES		0.300	0.450	2.599
TOTAL		766.240	706.351	529.611

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	331.017	216.175	214.105
		Export Sales	55.476	343.679	567.528
		Other Income	7.092	6.524	5.987
		TOTAL (A)	393.585	566.378	787.620
Less	EXPENSES
		Raw material consumed	249.505	360.600	533.332
		Manufacturing expenses	22.310	37.366	24.358
		Administrative and other expenses	40.865	105.735	59.266
		Selling and distribution expenses	10.086	24.718	32.116
		Increase/ (decrease) in closing stock	22.321	(21.813)	(25.898)
		Exceptional items	0.000	10.553	0.000
		Prior period items	(2.436)	0.001	(4.549)
		TOTAL (B)	342.651	517.160	618.625
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		50.934	49.218	168.995
Less	FINANCIAL EXPENSES (D)		23.380	22.351	14.073
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		27.554	26.867	154.922
Less/ Add	DEPRECIATION/ AMORTISATION (F)		10.191	6.706	4.421
	PROFIT BEFORE TAX (E-F) (G)		17.363	20.161	150.501
Less	TAX (H)		(5.157)	5.757	19.525
	PROFIT AFTER TAX (G-H) (I)		22.520	14.404	130.976
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		136.818	122.414	82.677
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	19.268
		Dividend	0.000	0.000	3.275
		Tax on Dividend	0.000	0.000	68.696
	BALANCE CARRIED TO THE B/S		159.338	136.818	122.414
	Earnings Per Share (Rs.)		1.10	0.74	6.80

Particulars	31.03.2011
Sales Turnover (Approximately)	650.000

Expected Sales (2011-2012) : More Than Rs. 1000.000 Millions

The above information has been parted by Ms. Pooja Majithia.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	5.72	2.54	16.62
Net Profit Margin (PBT/Sales)	(%)	5.24	9.32	70.29
Return on Total Assets (PBT/Total Assets}	(%)	2.53	2.97	17.90
Return on Investment (ROI) (PBT/Networth)		0.03	0.03	0.36
Debt Equity Ratio (Total Liability/Networth)		0.56	0.63	1.19
Current Ratio (Current Asset/Current Liability)		4.79	3.10	1.93

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The Registered Office of the company has been shifted from 48 – A, Arvind Estate, Behind Indica Laboratory, L. B. S. Road, Bapunagar, Ahmedabad – 380025, Gujarat, India to the present address w.e.f. 21.11.2006

Check List:

Check List by info Agents	Available in Report (Yes/ No)
1) Year of Establishment	Yes
2)Locality of the Firm	Yes
3)Constitution 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)Reason for variation <> 20%	----------------
14)Estimated for coming financial year	Yes
15)Capital in the Business	No
16)Details of Sister Concern	Yes
17)Major Suppliers	Yes
18)Major Customer	Yes
19)Payment Terms	Yes
20)Export/ Import Details (if Applicable)	Yes
21)Market Information	------------------
22)Litigation that the Firm / Promoter	------------------
23)Banking Details	Yes
24)Banking facility details	Yes
25)Conduct of the Banking	-------------------
26)Buyer visit details	-------------------
27)Financials, if provided	Yes
28)Incorporation details, if applicable	-------------------
29)Last account filed at ROC	-------------------
30)Major Shareholders, if applicable	-------------------

Bankers Charges Report as per Registry

Corporate identity number of the company	U30007GJ2002PLC040659
Name of the company	SHREEJI LASER TECHNOLOGY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	E-30, G.I.D.C., Electronics Estate, Sector – 26, Gandhinagar-382028, Gujarat, India Email: anita@sahajanandlaser.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) others: Raw material, semi and finished goods
Particular of charge holder	IDBI Bank Limited, IDBI towerwtc Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India Email: sn.baheti@idbi.co.in
Nature of instrument creating charge	Deed of Hypothication for Creating Charge.
Date of instrument Creating the charge	21.04.2010
Amount secured by the charge	Rs.291.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest @ BPLR - 0.75% i.e. 12.00% P.A. (Present BPLR Is 12.75%) Payable Monthly  Terms of repayment Payable on demand Term Loan is repayable as per agreements with bank Margin 25 % On Stock 25% On Book Debts (Not Exceeding 105 Days) Epc Facility 10% Of Export Order Letter Of Credit 25% In The Form Of Fixed Deposits With Bank Bank Guarantee 25% In The Form Of Fixed Deposits With Bank Extent and operation of the charge Hypothecation of company's entire stocks of raw materials, semi finished and finished goods book debts and movable properties. Cash Credit Rs. 175.000 Millions Term Loan I Rs. 4.544 Millions. Term Loan II Rs. 13.701 Millions Term Loan III Rs. 15.561 Millions Term Loan IV Rs. 32.604 Millions Letter Of Credit Rs. 50.000 Millions
Particulars of the property charged	Hypothecation of entire stock of raw materials, semi-finished and finished goods, consumable stores and spares both present and future and such other movable including book-debts bills whether documentary of clean outstanding money receivables both present and future movable machinery, machinery spares, tools and accessories both present and future.

FIXED ASSETS

· Land (Freehold and Leasehold)

· Factory Building

· Plant and machinery

· Furniture and Fixtures

· Computer and Software

· Vehicle

· Office Equipment

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.52.25
UK Pound	1	Rs.81.22
Euro	1	Rs.69.82

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

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.