MIRA INFORM REPORT

Report Date :

03.10.2011

IDENTIFICATION DETAILS

Name :	KELTRON CONTROLS - DIVISION OF KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED
Registered Office :	Keltron House, Vellayambalam, Trivandrum-695033, Kerala
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	29.09.1972
Com. Reg. No.:	9-002450
Capital Investment / Paid-up Capital :	Rs. 1033.596 Millions
CIN No.: [Company Identification No.]	U74999KL1972SGC002450
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of ECO Sounding Equipments, UPS and Control and Instruments Modules.
No. of Employees :	3000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

C (9)

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Sick Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject has been declared as a sick industrial company in July, 2006 by the Board for Industrial and Financial Reconstruction (BIFR). Financial position of the company is poor. Payments are reported to be slow and delayed. The company can be considered for business dealings on a safe and secured trade terms and conditions, initially.

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. Raju
Designation :	General Manager
Contact No.:	91-478-2872323
Date :	01.10.2011

LOCATIONS

Registered Office :	Keltron House, Vellayambalam, Trivandrum-695033, Kerala, India
Tel. No.:	91-478-2872323
Fax No.:	91-478-2872322
E-Mail :	ksedc@sancharnet.in kelkca@md2.vsnl.in
Location :	Owned

DIRECTORS

AS ON 25.09.2010

Name :	Mr. Thotanchath Balakrishnan
Designation :	Chairman
Address :	9-C, SFS, Kingswood, Jawahar Nagar, Trivandrum, Kerala, India
Date of Birth/Age :	03.10.1951
Date of Appointment :	16.05.2005
DIN No.:	00052922

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	U13209KL1946SGC001214	Travancore Titanium Products Limited	Director	11-06-09	13-04-05	18-07-09	Active	YES
2	U45309KL1961SGC001937	Kerala State Industrial Development Corpn Limited	Director	19-04-05	19-04-05	-	Active	NO
3	U74140KL1972PLC002425	KITCO Limited	Nominee director	27-04-05	27-04-05	12-01-10	Active	NO
4	U65999KL1996PLC009848	Icici Kinfra Limited	Director	29-04-05	29-04-05	27-12-08	Active	NO
5	U14109KL1972SGC002399	The Kerala Minerals And Metals Limited	Nominee director	11-06-09	02-05-05	-	Active	NO
6	U74999KL1972SGC002450	Kerala State Electronics Development Corporation Limited	Director	16-05-05	16-05-05	-	Active	YES
7	U25191KL1997PTC011952	Rubber Park India Private Limited	Director	28-05-05	28-05-05	03-12-09	Active	NO
8	U45309KL1994PLC008288	Western India Kinfra Limited	Director	07-06-05	07-06-05	29-08-09	Active	NO
9	U31200KL1960SGC001860	Traco Cable Company Limited	Director	28-06-05	28-06-05	26-03-09	Active	YES
10	U14109KL1992SGC006567	Kerala State Mineral Development Corporation Limited	Director	29-06-05	29-06-05	21-03-09	Active	YES
11	L25111KL1959PLC009300	Ptl Enterprises Limited	Nominee director	01-07-05	01-07-05	-	Active	NO
12	U45309KL1999PTC012863	Marine Products Infrastructure Development Corporation Private Limited	Director	11-07-05	11-07-05	04-05-09	Active	NO
13	L25111KL1972PLC002449	Apollo tyres limited.	Nominee director	22-07-05	22-07-05	-	Active	NO
14	U63032KL2005PTC017924	Kottayam port and container terminal services private limited	Nominee director	22-08-06	22-08-06	28-06-10	Active	NO
15	U26941KL1978SGC002975	Malabar Cements Limited	Director	16-11-06	16-11-06	-	Active	NO
16	U21013KL1983GOI003735	Hindustan News Print Limited	Nominee director	13-01-07	13-01-07	-	Active	NO
17	U15100MH1950GOI008187	Indian Rare Earths Limited	Nominee director	07-03-07	07-03-07	15-12-09	Active	NO
18	U45209KL2007PLC020471	Infrastructures Kerala Limited	Managing director	11-03-11	09-03-07	-	Active	NO
19	U31102KL1963SGC002043	Transformers And Electricals Kerala Limited	Director	21-06-07	21-06-07	-	Active	NO
20	U28910KL1983SGC003729	Steel And Industrial Forgings Limited	Director	18-10-07	18-10-07	01-07-09	Active	NO
21	U40108KL2008PTC023163	Kinesco Power And Utilities Private Limited	Nominee director	17-09-08	17-09-08	29-12-09	Active	NO
22	U45200KL2009PLC023758	Ksidc Il and Fsidc Infrastructure Limited	Director	28-01-09	28-01-09	-	Active	NO
23	L23220MH1952GOI008931	Bharat Petroleum Corporation Limited	Director	08-09-09	17-06-09	29-06-10	Active	NO
24	L24299KL1975PLC002691	Nitta Gelatin India Limited	Nominee director	18-07-09	18-07-09	-	Active	NO
25	U67110KL2009PLC025082	Al Barakah Financial Services Limited	Director	23-05-11	30-11-09	-	Active	NO
26	U74900KL2010PLC025553	Inkel-Ksidc Projects Limited	Additional director	26-03-11	26-03-11	-	Active	NO
27	U74900KL2010PLC025556	Inkel-Kinfra Infrastructure Projects Limited	Additional director	26-03-11	26-03-11	-	Active	NO
28	U72200KL2000NPL014187	Indian Institute Of Information Technology And Management Kerala (Sec 25 Company)	Director	23-06-11	23-06-11	-	Active	YES
29	U70101KL2006FTC019125	SmartCity (Kochi) Infrastructure Private Limited	Director	25-06-11	23-06-11	-	Active	NO
30	U63012KL2011PTC028839	Miv Logistics Private Limited	Director	11-07-11	11-07-11	-	Active	NO
31	U60100KL2011SGC029348	Kerala High Speed Rail Corporation Limited	Director	13-09-11	13-09-11	-	Active	NO

Name :	Mr, Alkesh Kumar Sharma
Designation :	Managing Director
Address :	B 3U, Millenium Apartments, Thycaud P O, Trivandrum-695014, Kerala, India
Date of Birth/Age :	12.08.1963
Date of Appointment :	02.07.2010
DIN No.:	02724743

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	U45309KL1961SGC001937	Kerala State Industrial Development Corpn Limited	Managing director	16-07-09	16-07-09	-	Active	NO
2	L24299KL1975PLC002691	Nitta Gelatin India Limited	Nominee director	18-07-09	18-07-09	-	Active	NO
3	L67120KL1994PLC008403	Geojit Bnp Paribas Financial Services Limited	Nominee director	20-07-09	20-07-09	-	Active	NO
4	L20211KL1945PLC001708	Western India Plywoods Limited	Nominee director	20-07-09	20-07-09	01-01-11	Active	NO
5	U55102KL1995SGC009189	Bekal Resorts Development Corporation Limited	Director	10-08-09	10-08-09	-	Active	NO
6	U45200KL2009PLC023758	Ksidc Il and Fsidc Infrastructure Limited	Director	03-09-09	03-09-09	-	Active	NO
7	U29299KL1989SGC005405	Brahmos Aerospace Thiruvananthapuram Limited	Nominee director	29-09-09	29-09-09	-	Active	NO
8	U55101KL1997PLC011649	Mfar Hotels and Resorts Limited	Director	30-08-10	19-10-09	10-01-11	Active	NO
9	U45209KL2007PLC020471	Infrastructures Kerala Limited	Nominee director	09-11-09	09-11-09	-	Active	NO
10	U67120KL1999PTC013292	Kerala Venture Capital Fund Private Limited	Nominee director	28-11-09	28-11-09	-	Active	YES
11	U67120KL1999PTC013291	Kerala Venture Capital Trustee Private Limited	Nominee director	28-11-09	28-11-09	-	Active	YES
12	U15100MH1950GOI008187	Indian Rare Earths Limited	Nominee director	15-12-09	15-12-09	-	Active	NO
13	U26941KL1978SGC002975	Malabar Cements Limited	Managing director	31-12-09	31-12-09	18-02-10	Active	NO
14	U74140KL1972PLC002425	KITCO Limited	Nominee director	12-01-10	12-01-10	-	Active	NO
15	U14109KL1972SGC002399	The Kerala Minerals And Metals Limited	Nominee director	20-02-10	20-02-10	-	Active	NO
16	U65910KL1991PTC006106	Geojit Credits Private Limited	Nominee director	05-04-10	05-04-10	-	Active	NO
17	U27310KL1984SGC003975	Autokast Limited	Director	03-06-10	03-06-10	-	Active	NO
18	U63032KL2005PTC017924	Kottayam Port And Container Terminal Services Private Limited	Nominee director	28-06-10	28-06-10	-	Active	NO
19	L23220MH1952GOI008931	Bharat Petroleum Corporation Limited	Director	24-09-10	30-06-10	-	Active	NO
20	U74999KL1972SGC002450	Kerala State Electronics Development Corporation Limited	Managing director	02-07-10	02-07-10	24-02-11	Active	YES
21	U29299KL1974SGC002601	Keltron Electro Ceramics Limited	Managing director	03-09-10	03-09-10	29-03-11	Active	NO
22	L31904KL1974SGC002630	Keltron Component Complex Limited	Director	03-09-10	03-09-10	13-01-11	Active	YES
23	U27104KL1969SGC002253	Steel Complex Limited	Additional director	30-12-10	30-12-10	-	Active	NO
24	U01133KL2011PLC027532	Kuttiyadi Coconut Industrial Park Limited	Managing director	27-01-11	27-01-11	-	Active	NO
25	U60100KL2011SGC029348	Kerala High Speed Rail Corporation Limited	Director	13-09-11	13-09-11	-	Active	NO

Name :	Mr. Thenguvila Osman Khan Sooraj
Designation :	Director
Address :	Ushus TC 13 705 2 MRA, 180 Vadaykadu, Kunnukuzhy, Vanchiyur, Trivandrum. Kerala, India
Date of Birth/Age :	31.05.1958
Date of Appointment :	15.04.2005
DIN No.:	00518809

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	U74999KL1972SGC002450	Kerala State Electronics Development Corporation Limited	Director	15-04-05	15-04-05	Active	YES
2	U65929KL1975SGC002736	Kerala Small Industries Development Corporation Limited	Director	15-04-05	15-04-05	Active	YES
3	U31102KL1963SGC002043	Transformers And Electricals Kerala Limited	Nominee director	18-06-09	18-06-09	Active	NO
4	U45309KL1994PLC008288	Western India Kinfra Limited	Nominee director	29-08-09	29-08-09	Active	NO
5	U25191KL1997PTC011952	Rubber Park India Private Limited	Director	03-12-09	03-12-09	Active	NO
6	U40108KL2008PTC023163	Kinesco Power And Utilities Private Limited	Nominee director	29-12-09	29-12-09	Active	NO

Name :	Mr. Inder Jit Singh
Designation :	Director
Address :	Apartment No. B 3L, Millenium Apartments, Thycaud, Trivandrum, Kerala, India
Date of Birth/Age :	17.08.1961
Date of Appointment :	23.06.2009
DIN No.:	02721073

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	U74999KL1972SGC002450	Kerala State Electronics Development Corporation Limited	Director	23-06-09	23-06-09	-	Active	YES
2	U55101KL1989SGC005461	Tourist Resorts Kerala Limited	Director	07-07-09	07-07-09	03-08-11	Active	NO
3	U63040KL1965SGC002120	KTDC Hotels And Resorts Limited	Director	07-07-09	07-07-09	05-10-10	Active	NO

Name :	Mr. Suresh Mohan Ramchandra
Designation :	Director
Address :	A 21, Jawahar Nagar, Trivandrum, Kerala, India
Date of Birth/Age :	10.07.1948
Date of Appointment :	05.01.2009
DIN No.:	00949785

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	U31200KL1984PTC003931	Master Electronics Company Private Limited	Director	09-02-85	09-02-85	-	Strike off	NO
2	U74140KL1989PTC005290	Misha Consultants Private Limited	Director	15-12-92	15-12-92	-	Active	NO
3	U72300KL2004PTC017353	Dundas Software Private Limited	Director	31-12-05	31-12-05	-	Active	NO
4	U51909KL1996PTC010057	Poovar Ayurveda Centre And Hotels Private Limited	Director	30-09-06	30-09-06	27-12-08	Active	NO
5	U74999KL1972SGC002450	Kerala State Electronics Development Corporation Limited	Director	05-01-09	05-01-09	-	Active	YES

Name :	Mr. Thirunavukkarasu Chidambaram
Designation :	Director
Address :	TC 50 970 3, Kalady, Karamana P O Trivandrum-695002, Kerala, India
Date of Birth/Age :	26.03.1947
Date of Appointment :	18.07.2007
DIN No.:	01669449
Name :	Mr. Rajan Thomas Joseph
Designation :	Director
Address :	TC 31 2025, Sreerangam Lane, Sasthamangalam, Trivandrum-695010, Kerala, India
Date of Birth/Age :	06.05.1951
Date of Appointment :	01.08.2003
DIN No.:	02414683
Name :	Mr. Babu Abraham Stewart
Designation :	Director
Address :	Cra 77 TC 2 1483 5, Ambal House, Nalanda Gardens Lane, Pattom Palace PO, Trivandrum-695004, Kerala, India
Date of Birth/Age :	06.04.1957
Date of Appointment :	22.04.2010
DIN No.:	03077844

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	U28910KL1983SGC003729	Steel And Industrial Forgings Limited	Director	22-04-10	22-04-10	-	Active	NO
2	U27310KL1984SGC003975	Autokast Limited	Director	22-04-10	22-04-10	-	Active	NO
3	U27106KL1975SGC002656	Steel Industrials Kerala Limited	Director	22-04-10	22-04-10	-	Active	NO
4	U74999KL1972SGC002450	Kerala State Electronics Development Corporation Limited	Director	22-04-10	22-04-10	-	Active	YES
5	U27104KL1969SGC002253	Steel Complex Limited	Director	22-04-10	22-04-10	30-12-10	Active	NO
6	U50300KL1978SGC002966	Kerala Automobiles Limited	Director	04-05-10	04-05-10	-	Active	YES

KEY EXECUTIVES

Name :	Mr. Bilu Balakrishna Pillai
Designation :	Secretary
Address :	PMR A A2, Prvathi Manganoorkonam Lane, Pattom PO, Trivandrum, Kerala, India
Date of Birth/Age :	06.06.1978
Date of Appointment :	02.06.2008
PAN No.:	AOMPB7579R
Name :	Mr. Raju
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.09.2010

Names of Shareholders	No. of Shares
Governor of Kerala	10335960
Balakrishnan T	1
Narayan M	1
Captain O P Dua	1
Total	10335963

AS ON 25.09.2010

Category	Percentage
Government [Central and State]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of ECO Sounding Equipments, UPS and Control and Instruments Modules.

Products :

ITC CODE	PRODUCT
90148010	Echosounding Equipments
85044090	UPS
90328990	Instrumentation Modules

Terms :

Purchasing :

Depend

PRODUCTION STATUS AS ON 31.03.2009

Particulars	Unit	Installed Capacity	Actual Production
Switching Equipments	Lines	70000	--
Printed Circuit Boards	Msq.	8000	--
Analysers	Nos.	500	6
E. P. Convertor	Nos.	750	--
Transmitters	Nos.	4000	--
Binery Pro. Controllers	Nos.	20	--
Panels Mount Instruments	Nos.	2500	--
Pneumatic Actuators	Nos.	750	1410
Panels and Consols	Nos.	750	133
Analog Elec. Control Modules	Nos.	7500	517
DDCS	Crores.	50	9.18
CCTV Systems	Nos.	100	--
Alpha Numeric Data Display Terminal	Nos.	100	--
Console / TVRO/DRS	Nos.	2000	13.00
RNT	Nos.	200	--
Attendance Data Management Systems	Nos.	500	11
XBT Probe	Nos.	18000	4500
Energy Meter PCB	Nos.	1200000	--
Echo Sounder	Nos.	60	15
Electro Magnetic Log	Nos.	60	--
Retransmission Unit	Nos.	60	33
Under Water Telephone	Nos.	36	--
Interface Boxes	Nos.	36	16
Stearing Gear Control System	Nos.	12	--
PBGM	Nos.	50	--
Battery Charger	Nos.	50	2
Inverter	Nos.	50	16
10-600 KVA UPS	Nos.	50	21
Rectifiers	Nos.	50	--

GENERAL INFORMATION

No. of Employees :

3000 (Approximately)

Bankers :

· IDBI Bank Limited, Nariman Bhawan, 227, Vinay K. Shah Marg, Nariman Point, Mumbai-400021, Maharashtra, India

· Punjab National Bank, CPGP Towers, Uppalam Road, Statue Junction, Trivandrum-695001, Kerala, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2009	Rs. In Millions 31.03.2008
Cash Credit
From Bankers: (Secured by hypothecation of Raw Materials, Work in Progress, Finished Goods and Sundry Debtors of the Corporation on pari passu basis)	250.000	375.000
Interest accrued and due thereon	10.562	12.295
Loan from KIRFB (Secured by hypothecation of land, building and other fixed assets of Keltron Communication Complex)
1. Long Term Loan Interest accrued and due on Long Term Loan	0.000	0.717
2. Working Capital Loan	80.295	80.295
Interest accrued and due thereon	8.904	7.748
Total	349.761	476.055
Unsecured Loan	Rs. In Millions 31.03.2009	Rs. In Millions 31.03.2008
1. From Government of Kerala	1420.506	1281.006
Interest accrued and due thereon	982.011	797.907
2. Debenture Bonds guaranteed by the Government of Kerala	31.000	62.000
3. Loan from KMML	47.356	47.357
4. Loan from Travancore Titanium Products	1.200	1.200
Interest accrued and due thereon	1.711	1.536
Total	2483.784	2191.006

Banking Relations :	--
Auditors :
Name :	Dhan and Company Chartered Accountant
Address :	T.C 4/1274, Krishna, Kuravankonam, Trivandrum-695003, Kerala, India
Subsidiaries :	Keltron Component Complex Limited CIN No.: L31904KL1974SGC002630 Keltron Resistors Limited CIN No.: U32103KL1975SGC002690 Keltron Magnetics Limited CIN No.: U74999KL1975SGC002674 Keltron Crystals Limited CIN No.: U31904KL1974SGC002631 Keltron Electro Ceramics Limited CIN No.: U29299KL1974SGC002601 Keltron Power Devices Limited CIN No.: U31200KL1979SGC002768 Keltron Rectifiers Limited CIN No.: U31109KL1976SGC002791 Keltron Counters Limited CIN No.: U29299KL1964SGC002065
Other Related Company :	· Keltron Varisters (Private) Limited · Keltron Entertainment Systems Limited · Sidkel Electronic Limited · Koshy’s Electronics Limited · Keltron Projectors Limited

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10500000	Equity Shares	Rs.100/- each	Rs. 1050.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10335963	Equity Shares	Rs.100/- each	Rs. 1033.596 Millions

Note:

(Of the above 14860 fully paid up shares were issued for consideration other than cash)

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		1033.596	1033.596	1033.596
2] Share Application Money		118.000	118.000	118.000
3] Reserves & Surplus		65.274	66.690	68.825
4] (Accumulated Losses)		(2070.731)	(2024.013)	(2075.619)
NETWORTH		(853.861)	(805.727)	(855.198)
LOAN FUNDS
1] Secured Loans		349.761	476.055	723.587
2] Unsecured Loans		2483.784	2191.006	2015.832
TOTAL BORROWING		2833.545	2667.061	2739.419
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1979.684	1861.334	1884.221
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		113.397	101.882	91.570
Capital work-in-progress		3.862	0.000	1.518
INVESTMENT		111.740	143.202	143.202
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	216.117	206.951	189.152
	Sundry Debtors	1282.044	1327.474	1134.504
	Cash & Bank Balances	354.462	265.151	224.041
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1038.560	1032.627	1019.725
Total Current Assets		2891.183	2832.203	2567.422
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	808.783	730.925	516.000
	Other Current Liabilities	59.350	285.239	225.148
	Provisions	274.425	201.288	179.277
Total Current Liabilities		1142.558	1217.452	920.425
Net Current Assets		1748.625	1614.751	1646.997
MISCELLANEOUS EXPENSES		2.060	1.499	0.934
TOTAL		1979.684	1861.334	1884.221

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2009	31.03.2008	31.03.2007
	TURNOVER	1538.800	1333.000	1272.300
	PROFIT / (LOSS) BEFORE TAX	(46.700)	51.600	2780.700
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	(46.700)	51.600	2780.700
	Earnings Per Share (Rs.)	4.52	5.00	269.03

Particulars	31.03.2010
Sales Turnover (Approximately)	1700.000

The above information has been parted by Mr. Raju.

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008	31.03.2007
Return on Total Assets (PBT/Total Assets}	(%)	(1.55)	1.76	104.58
Return on Investment (ROI) (PBT/Networth)		0.05	(0.06)	(3.25)
Debt Equity Ratio (Total Liability/Networth)		(4.66)	(4.82)	(4.28)
Current Ratio (Current Asset/Current Liability)		2.53	2.33	2.79

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS

(Rs. in Millions)

SOURCES OF FUNDS	31.03.2009	31.03.2008	31.03.2007
Sundry Creditors
Sundry Creditors for Suppliers	292.322	381.509	198.383
Sundry Creditors for Services	347.049	269.544	249.103
Sundry Creditors for Other Finance	169.412	79.872	68.514
Total	808.783	730.925	516.000

Check List by Info Agents	Available in Report (Yes / No)
1. Year of Establishment	Yes
2. Locality of the firm	Yes
3. Constructions 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%	--
14. Estimation for coming financial year	No
15. Capital in the business	No
16. Details of sister concerns	----
17. Major suppliers	No
18. Major customers	No
19. Payments terms	Yes
20. Export / Import details	----
21. Market information	----
22. Litigations that the firm / promoter involved	----
23. Banking Details	Yes
24. Banking facility details	No
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	----

FINANCIAL RESULTS

During the year, the Corporation registered a turnover of Rs.7538.800 millions as against Rs.1333.000 millions during the previous year. The operating profit for the year was Rs.63.700 millions as against Rs, 60.500 millions during the previous year, but posted a net Loss of Rs.46.700 millions against the net profit of Rs.51.600 millions, The net loss for the year is due to the adjustment of a extra ordinary item as a result of waiver of interest accrued on the occasion of merger of Keltron Crystals Limited, Keltron Magnetics Limited, Keltron Resistors Limited, with

Keltron Component Complex Limited, which are the subsidiary companies of KSEDC Limited.

FORM 8

Corporate identity number of the company	U74999KL1972SGC002450
Name of the company	KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED
Address of the registered office or of the principal place of business in India of the company	Keltron House, Vellayambalam, Trivandrum-695033, Kerala, India
This form is for	Creation of charge
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	Punjab National Bank, CPGP Towers, Uppalam Road, Statue Junction, Trivandrum-695001, Kerala, India
Nature of instrument creating charge	1. The deed of hypothecation of goods and book debts dated 25.01.2011 2. Letter evidencing deposit of title deeds dated 31.01.2011 3. Counter indemnity dated 25.01.2011
Date of instrument Creating the charge	25.01.2011
Amount secured by the charge	Rs. 75.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Base Rate+ 3% per annum with monthly rests plus applicable interest tax, if any from time to time. Terms of repayment On demand Margin 25% Extent and operation of the charge 1. Various raw materials viz manufacturing materials, raw materials including excisable raw materials, stock in process, semi finished goods, finished goods (including bought out finished goods) viz electronic goods, components, stock in process, finished products, stores and spares. 2. Book debts, outstanding decrees, money receivables, government subsidies, claims, bill contracts and investments, etc. 3. 277 cents of land and building in SY. No. 2 of Thycaud Village, Trivandrum District. Other Cash credit limit of Rs. 75.000 millions and bank guarantee limit of Rs. 37.500 millions within the overall limit of Rs. 75.000 millions.
Short particulars of the property charged (Including location of the property)	1. Various raw materials viz electronic goods, components, stock in process, finished products, stores and spares. 2. Book debts, outstanding decrees, money receivables, government subsidies, claims, bill contracts and investments, etc. 3. 277 cents of land and building in SY. No. 2 of Thycaud Village, Trivandrum District.

FIXED ASSETS :

· Land

· Building

· Electrical Fittings

· Plant and Machinery

· Air Conditioner

· Furniture and Fixtures

· Office Equipments

· Vehicles

· Service Equipments

· Canteen Equipments

· Library Books

· Fire Extinguishers

· Water Supply Installation

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 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. 48.93
UK Pound	1	Rs.76.51
Euro	1	Rs.66.64

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	--
--LEVERAGE	1~10	--
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		9

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.