MIRA INFORM REPORT

Report Date :

30.09.2011

IDENTIFICATION DETAILS

Name :	SCITECH PUBLICATIONS (INDIA) PRIVATE LIMITED
Registered Office :	7/3C, Madley Road, T. Nagar, Chennai - 600 017, Tamilnadu
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	11.04.2000
Com. Reg. No.:	18-044712
Capital Investment / Paid-up Capital :	Rs.0.500 million
CIN No.: [Company Identification No.]	U22110TN2000PTC044712
TAN No.: [Tax Deduction & Collection Account No.]	CHES06467G
Legal Form :	Private Limited Liability Company
Line of Business :	Publication of Technical Book.
No. of Employees :	65 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 8000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The management of the company has not filed its latest financials with the government departments. Trade relations are reported as fair. Business is active. Payment terms are unknown. The company can be considered for business dealings with some caution.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
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 :	Mr. Govind Swaminathan Ramachandiran
Designation :	Director
Contact No.:	91-9840339577
Date :	27.09.2011

LOCATIONS

Registered Office :	7/3C, Madley Road, T. Nagar, Chennai - 600 017, Tamilnadu, India
Tel. No.:	91-44-26790737
Mobile No.:	91-9840339577 (Mr. Govind)
Fax No.:	Not Available
E-Mail :	scitech@md5.vsnl.net.in
Website :	http://www.scitechpublications.com
Area :	1000 sq ft
Location :	Rented
Workshop :	Plot No:52, O.No:2/128, N.No:2/619, 1^st Main Road, VGN Nagar, Iyyappanthangal, Chennai - 600 056, Tamilnadu, India
Tel. No.:	91-44-43806928
E-Mail :	scitech@airtelmail.in
Area :	3000 sq ft
Location :	Rented
Branch Office :	Located at: v Hyderabad v Kolkata v Pune v Lucknow v New Delhi v Vijayawada v Bubaneshwar

DIRECTORS

As on 30.09.2009

Name :

Mr. Ramesh Viswanathan

Designation :

Managing Director

Address :

87, Sri Kamakoti Nagar, Valasaravakkam – 600 087, Tamilnadu, India

Date of Birth/Age :

14.01.1965

Date of Appointment :

11.04.2000

DIN No.:

02154128

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	U22110TN2000PTC044712	Scitech Publications (India) Private Limited	Director	11-04-00	11-04-00	-	Active	YES
2	U74990TN2010PTC077839	Nishkamya Tecsource Private Limited	Director	27-10-10	27-10-10	-	Active	NO

Name :

Mr. Govind Swaminathan Ramachandiran

Designation :

Director

Address :

Old No.10, New No.19, 5^th Main Road, Kasturba Nagar, Chennai – 600 020, Tamilnadu, India

Date of Birth/Age :

21.05.1964

Date of Appointment :

11.04.2000

DIN No.:

02652529

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	U22110TN2000PTC044712	Scitech Publications (India) Private Limited	Director	11-04-00	11-04-00	-	Active	YES
2	U74990TN2010PTC077839	Nishkamya Tecsource Private Limited	Director	27-10-10	27-10-10	-	Active	NO

Name :

M.R. Purushotaman

Designation :

Director

Address :

15, Venkatesan Street, Ayyasamy Nagar, East Tambaram, Chennai – 600 059, Tamilnadu, India

Date of Birth/Age :

10.06.1949

Date of Appointment :

11.04.2000

Name :

T. Dhana Sekhar

Designation :

Director

Address :

150, Annie Beasant Road, Ice House, Triplicane, Chennai – 600 005, Tamilnadu, India

Date of Birth/Age :

05.01.1967

Date of Appointment :

11.04.2000

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2009

Names of Shareholders	No. of Shares
V. Ramesh	1250
M.R. Purushotaman	1250
Govind Swaminathan	1250
T. Dhanasekar	1250
Total	5000

As on 30.09.2009

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

BUSINESS DETAILS

Line of Business :	Publication of Technical Book.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Retailers, Dealers and Distributors

No. of Employees :

65 (Approximately)

Bankers :

v Indian Bank

v ING Vysya

v Standard Chartered Bank

v ICICI Bank

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Maruthi Country wide	0.045	0.113
ICICI Bank (For Vehicles)	0.352	0.510
Bank OD – ING Vysya	0.740	0.201
Standard Chartered Business Loan	0.767	0.000
Bank OD – Indian Bank	0.789	0.000
Total	2.693	0.824

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Directors	0.003	0.003
Total	0.003	0.003

Banking Relations :	--
Auditors :
Name :	Sekharan Associates Chartered Accountants
Address :	“Sukalayam”, 70/44, Burkit Road, T. Nagar, Chennai – 600 017, Tamilnadu, India
Tel. No.:	91-44-24346532/ 24341443
Fax No.:	91-44-24321086
E-Mail :	seka@vsnl.net plnraghukumar@hotmail.com
Income-tax PAN of auditor or auditor's firm :	AAOFS3114P

CAPITAL STRUCTURE

As on 31.03.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs.0.500 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs.0.500 million

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		0.500	0.500	0.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.524	1.082	0.851
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.024	1.582	1.351
LOAN FUNDS
1] Secured Loans		2.693	0.824	0.825
2] Unsecured Loans		0.003	0.003	0.459
TOTAL BORROWING		2.696	0.827	1.284
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4.720	2.409	2.635
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.693	1.181	1.231
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.063
DEFERREX TAX ASSETS		0.045	0.065	0.055
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.587	1.410	1.340
	Sundry Debtors	22.682	17.825	12.612
	Cash & Bank Balances	3.846	0.776	0.225
	Other Current Assets	0.308	1.153	0.101
	Loans & Advances	1.032	0.433	0.388
Total Current Assets		29.455	21.597	14.666
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	15.897	14.325	9.041
	Other Current Liabilities	9.902	5.805	4.149
	Provisions	0.674	0.304	0.190
Total Current Liabilities		26.473	20.434	13.380
Net Current Assets		2.982	1.163	1.286
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.720	2.409	2.635

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008	31.03.2007
	SALES
		Income	47.561	35.332	23.229
		Other Income	0.225	0.009	0.004
		TOTAL (A)	47.786	35.341	23.233
Less	EXPENSES
		Direct Expenses	23.153	15.392	9.740
		Indirect Expenses	23.060	19.149	12.671
		Increase/ Decrease in Stock	(0.176)	(0.070)	(0.117)
		TOTAL (B)	46.037	34.471	22.294
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.749	0.870	0.939
Less	INTEREST (D)		0.328	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.421	0.870	0.939
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.435	0.390	0.441
	PROFIT BEFORE TAX (E-F) (G)		0.986	0.480	0.498
Less	TAX (H)		0.543	0.250	0.182
	PROFIT AFTER TAX (G-H) (I)		0.443	0.230	0.316
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.610	0.380	0.064
	BALANCE CARRIED TO THE B/S		1.053	0.610	0.380
	Earnings Per Share (Rs.)		88.60	NA	NA

Particulars	31.03.2011	31.03.2010
Sales Turnover (Approximately)	60.500	60.800

Expected Sales (2011-2012): Rs.90.000 millions

The above information has been parted by Mr. Govind (Director).

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008	31.03.2007
PAT / Total Income	(%)	0.93	0.65	1.36
Net Profit Margin (PBT/Sales)	(%)	2.07	1.36	2.14
Return on Total Assets (PBT/Total Assets}	(%)	3.17	2.11	3.13
Return on Investment (ROI) (PBT/Networth)		0.49	0.30	0.37
Debt Equity Ratio (Total Liability/Networth)		14.41	13.44	10.85
Current Ratio (Current Asset/Current Liability)		1.11	1.06	1.10

LOCAL AGENCY FURTHER INFORMATION

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	Yes
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)	--
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	--

OUTLOOK:

The Company has posted 35% increase in the Turn Over during the Financial Year 2008 – 09 as Compared to Previous Financial Year inspite of Global recession.

The order booking for the current financial year is also in encouraging note.

FIXED ASSETS:

v Vehicles

v Furniture and Fittings

v Computers and Accessories

v Plant and Machinery

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.48.93
UK Pound	1	Rs.76.52
Euro	1	Rs.66.65

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	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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		27

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.