MIRA INFORM REPORT

Report Date :

04.04.2012

IDENTIFICATION DETAILS

Name :	COMPUAGE INFOCOM LIMITED
Registered Office :	3, Dhuru Building, 1st Floor, 329, Vithal Bhai Patel Road, Mumbai-400 004, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.07.1999
Com. Reg. No.:	11-135914
Capital Investment/ Paid-up Capital:	Rs. 66.550 Millions
CIN No.: [Company Identification No.]	L99999MH1999PLC135914
Legal Form :	A Public Limited Liability Company. The Company's Shares are Listed on the Stocks Exchange.
Line of Business :	Dealer of Computers Software Development Services, Computer Parts, Computer Hardware, Computers, Computers Peripheral.
No. of Employees :	800 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 1300000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having good track. General financial position is satisfactory. 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 DENIED BY

Name :	Mr. Dilip Darji
Designation :	D G M Accounts
Contact No.:	91-22-67291300
Date :	03.04.2012

LOCATIONS

Registered Office :	3, Dhuru Building, 1st Floor, 329, Vithal Bhai Patel Road, Mumbai-400 004, Maharashtra, India
Tel. No.:	91-22-23842200/1/02/03/6588 1352
Fax No.:	91-22-23842210
E-Mail :	sunil.mehta@compuageindia.com info@compuageindia.com
Website :	www.compuageindia.com
Branches :	Located at: Ahmedabad, Agra, Aurangabad, Amritsar, Bangalore, Baroda, Bhubneshwar, Bhopal, Chandigarh, Chennai, Coimbtore, Cochin, Calicut, Dehradun, Delhi, Ghaziabad, Goa, Guwahati, Guragaon, Gorakhpur, Hyderabad, Hubli, Haldwani, Indore, Jaipur, Jammu, Jabalpur, Jodhpur, Kolkatta, Kottayam, Karnal, Lucknow, Ludhiana, Mumbai, Mangalore, Madurai, Nagpur, Nasik, Parwanoo, Patna, Pondicherry, Pune, Raipur, Rajkot, Ranchi, Siliguri, Surat, Trivendrum, Vizag, Vijayawada, Varansi.

DIRECTORS

As on 31.03.2010

Name :	Mr. Atul H. Mehta
Designation :	Director
Name :	Mr. Bhavesh H. Mehta
Designation :	Director
Name :	Mr. G.S. Ganesh
Designation :	Director
Name :	Mr. Vijay Agarwal
Designation :	Director
Name :	Ms. Preeti Trivedi
Designation :	Director

KEY EXECUTIVES

Name :	Ms. Nilufer Irani
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2011

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	4,513,953	67.83
Sub Total	4,513,953	67.83
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	4,513,953	67.83
(B) Public Shareholding
(1) Institutions
Financial Institutions / Banks	40	-
Sub Total	40	-
(2) Non-Institutions
Bodies Corporate	233,645	3.51
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh	482,355	7.25
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	610,316	9.17
Any Others (Specify)	814,691	12.24
Clearing Members	20,399	0.31
Foreign Corporate Bodies	54,725	0.82
Market Maker	12,757	0.19
Non Resident Indians	722,298	10.85
Hindu Undivided Families	4,355	0.07
Directors & their Relatives & Friends	157	-
Sub Total	2,141,007	32.17
Total Public shareholding (B)	2,141,047	32.17
Total (A)+(B)	6,655,000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	-	-
(1) Promoter and Promoter Group	-	-
(2) Public	-	-
Sub Total	-	-
Total (A)+(B)+(C)	6,655,000	100.00

BUSINESS DETAILS

Line of Business :

Dealer of Computers Software Development Services, Computer Parts, Computer Hardware, Computers, Computers Peripheral.

Products :

Item Code No. (ITC Code)	8471 and 8473
Product Description	Computer Pheripherals, Consumables and Accessories

GENERAL INFORMATION b

No. of Employees :

800 (Approximately)

Bankers :

· Bombay Mercantile Co-op. Bank Limited

· HDFC Bank Limited

· Indian Overseas Bank

· Standard Chartered Bank

· ICICI Bank Limited

· Barclays Bank

· Indian Bank

· Kotak Mahindra Bank

· Central Bank of India

· ING Vysya Bank

Facilities :

Secured Loans :	As on 31.03.2011 Rs. in Millions	As on 31.03.2010 Rs. in Millions
Cash Credit from Banks (Net of Debit Balances) (Secured against hypothecation of Stocks and Book debts and guaranteed by Directors)	659.684	592.483
Term Loan from Bank (Secured against office Premises)	89.450	0.000
Total	749.134	592.483

Banking Relations :	-
Auditors :
Name :	B.V. Dalal and Company Chartered Accountants
Associates/Subsidiaries :	Trillzo Holdings Limited Greenvision Technologies Private Limited Compuage Infocom (S) Pte. Limited Adit E Commerce Private limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
19254000	Equity Shares	Rs.10/- each	Rs.192.540 Millions
4665600	Preference Shares	Rs.0.10/- (Ten Paise) each	Rs.0.467 Million
3369344	Preference Shares	Rs.10/- each	Rs.33.693 Millions
	Total		Rs.226.700 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5180000	Equity Shares	Rs.10/- each	Rs.51.800 Millions

As on 29.07.2011

Authorised Capital : Rs.226.700 millions

Issued, Subscribed & Paid-up Capital : Rs. 66.550 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		51.800	51.800	72.982
2] Share Application Money		30.150	30.150	0.000
3] Reserves & Surplus		240.550	165.904	115.142
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		322.500	247.854	188.124
LOAN FUNDS
1] Secured Loans		749.134	592.483	351.698
2] Unsecured Loans		569.629	472.593	369.020
TOTAL BORROWING		1318.763	1065.076	720.718
DEFERRED TAX LIABILITIES		9.271	4.308	2.578
TOTAL		1650.534	1317.238	911.420
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		73.802	40.626	26.836
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		16.092	16.127	9.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1415.914	1033.485	666.390
	Sundry Debtors	1332.637	956.043	1002.912
	Cash & Bank Balances	283.187	302.222	181.307
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	445.893	295.787	167.486
Total Current Assets		3477.631	2587.537	2018.095
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	150.507	62.722	47.154
	Other Current Liabilities	1674.728	1175.229	1037.655
	Provisions	104.061	89.101	57.702
Total Current Liabilities		1929.296	1327.052	1142.511
Net Current Assets		1548.335	1260.485	875.584
MISCELLANEOUS EXPENSES		12.305	0.000	0.000
TOTAL		1650.534	1317.238	911.420

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	13739.081	10878.017	8037.128
		Other Income	9.976	6.919	5.617
		TOTAL (A)	13749.057	10884.936	8042.745
Less	EXPENSES
		Cost of Goods Sold	12501.943	9944.911	7229.880
		Employee Cost	170.919	124.091	97.229
		Administrative and Selling Expenses	844.732	634.072	509.642
		TOTAL (B)	13517.594	10703.074	7836.751
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		231.463	181.862	205.994
Less	FINANCIAL EXPENSES (D)		90.505	80.817	130.450
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		140.958	101.045	75.544
Less/ Add	DEPRECIATION/ AMORTISATION (F)		11.769	5.517	3.882
	PROFIT BEFORE TAX (E-F) (G)		129.189	95.528	71.662
Less	TAX (H)		42.462	32.645	27.237
	PROFIT AFTER TAX (G-H) (I)		86.727	62.883	44.425
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		142.732	91.970	60.517
Less	APPROPRIATIONS
		Transfer to capital Redemption Reserve	0.000	0.000	12.972
		Proposed Dividend	10.360	10.360	0.000
		Dividend Distribution Tax	1.721	1.761	0.000
	BALANCE CARRIED TO THE B/S		217.378	142.732	91.970
	EARNINGS IN FOREIGN CURRENCY		7.752	5.241	Nil
	Earnings Per Share (Rs.)		16.74	12.14	8.58

QUARTERLY / SUMMARISED RESULTS

PARTICULARS	30.06.2011 1^st Quarter	30.09.2011 2^nd Quarter
Net Sales	3232.080	4362.040
Total Expenditure	3172.090	4287.170
PBIDT (Excl OI)	59.990	74.870
Other Income	3.090	2.920
Operating Profit	63.080	77.790
Interest	20.230	19.860
Exceptional Items	0	0
PBDT	42.850	57.930
Depreciation	3.340	4.540
Profit Before Tax	39.510	53.390
Tax	13.130	17.730
Provisions and contingencies	0	0
Profit After Tax	26.380	35.650

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.63	0.57	0.55
Net Profit Margin (PBT/Sales)	(%)	0.94	0.88	0.89
Return on Total Assets (PBT/Total Assets}	(%)	3.64	3.63	3.50
Return on Investment (ROI) (PBT/Networth)		0.40	0.39	0.38
Debt Equity Ratio (Total Liability/Networth)		10.07	9.65	9.90
Current Ratio (Current Asset/Current Liability)		1.80	1.95	1.77

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors
Dues to Micro, Small and medium enterprises.	0.000	0.000	0.000
Others	150.507	62.722	47.154

BUSINESS REVIEW:

The year gone by has been a good year with company closing on a profitable note. The company's revenue grew to Rs13749.057 Millions registering a growth of 26.31% and consolidated revenue growing to Rs.14142.742 Millions, registering a growth of 26.14%.

The profit after tax grew to Rs 86.727 Millions, growing by 37.92% over the previous year. Consolidated profit after tax grew to Rs.89.551 Millions, growing by 55.18%.

The company has continued to strength its infrastructure, reach and product portfolio.

FUTURE OUTLOOK:

Future outlook of Compuage is very promising. It operates in growth oriented industry which is likely to grow by 20% per annum for the next few years. The company being small will be able to grow more than the IT industry’s growth rate.

SUBSIDIARY COMPANIES:

The total number of subsidiaries of the Company as on March 31, 2010 is 3, which are as under:

(1) Greenvision Technologies Private limited

(2) ADIT E-commerce Private limited

(3) Compuage Infocom (S) Pte. Limited

(1) Greenvision Technologies Private limited

Greenvision Technologies Private limited was incorporated on March 19, 2008 with Compuage holding 52% of its Equity Share Capital and voting power. As on March 20, 2009 they acquired additional 24% of the Equity Share Capital of Greenvision. As at March 31, 2011, they hold 76% of the Equity Share Capital and voting power of Greenvision Technologies Private limited

Greenvision Technologies Private limited focuses on Power Solutions for the Enterprise Customers and sealed Maintenance free Batteries for the UPS segment. The Company is also exploring manufacturing of Batteries.

During the year Greenvision Technologies Private limited has achieved a turnover of Rs.226.904 millions and has made a net profit before tax of Rs. 1.083 millions

(2) ADIT E-commerce Private limited

ADIT Esss-commerce Private limited was incorporated on May 17, 2008, they acquired 80% of the Equity in the Company on January 19,2010. The investment was made in the Company to take advantage of the growing online business.

(3) Compuage Infocom (S) Pte. limited

Compuage Infocom (S) Pte. limited is wholly owned subsidiary and was formed to expand the business operation in Singapore.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO:

The particulars relating to conservation of energy and techniques are not relevant to the Company since the Company is not engaged in any manufacturing activities and hence there is not much scope and concern to this matter for the company to take any meaningful action.

Earning in Foreign Exchange was Rs. 7.752 Millions

The payment of foreign exchange outgoes are as under

1. Valuation of Imports calculated on C.I.F. basis for one year period ended 31st March,

2011 is RS. 5063.785 Millions. (Rs. 3563.127 Millions in previous year)

2. Expenditure in Foreign currency: (Rs.in Millions) (Current Year) (Previous Year)

Traveling NIL 0.686

Interest 0.156 0.172

MANAGEMENT DISCUSSIONS and ANALYSIS

Overview

Industry outlook:

Changing economic and business conditions and rapid technological innovation are creating an increasingly competitive market environment that is driving corporations to transform their operations. Consumers of products and services are increasingly demanding accelerated delivery times and lower prices.

Compuage has increased its focus on a sustained efficiency program across the enterprise. This includes working towards improving cash collection, controlling expenditure and optimizing wherever possible. These measures are showing visible success.

Compuages growth has occurred within a challenging economic climate. The Company has demonstrated leadership, remained disciplined in execution and faced a volatile market with a positive 'can do 'attitude. Looking towards the future, the Company will remain focused on agility, innovation and operational excellence.

The company continues to focus on both extension of geographic reach in emerging growth markets as well as on development & growth of new customer accounts across major product lines to cement its leading position on storage media & peripherals.

The management is also exploring into other businesses which offer better margins and make use of its infrastructure and its Distribution expertise. The company through its subsidiary Greenvision is exploring manufacture of batteries for inverters, UPS and Telecom sector. This initiative too shall enhance the profitability of the company. The future potential for the company unquestionably remains bright.

Future Outlook

Compuage is also exploring distribution in other areas such as Home Appliances, Consumer Electronics and Telecom products, thereby leveraging in its infrastructure and of course optimizing its core competency in distribution Greenvision, its subsidiary, focusing on Power Protection Segment and Services is preparing to set up a manufacturing unit to manufacture batteries for UPS, Inverters and Telecom. All these are high growth areas and offer good potential. This will help the company in 2 ways, one, derisk its dependence on IT Distribution and two, improve the bottom line.

The year ahead looks promising.

Operational Performance

The Last Financial Year 2010-11, was a good year with company closing on a profitable note. The company's revenue grew to Rs. 13749.057 Millions registering a growth of 26.31% and consolidated revenue growing to Rs. 14142.742 Millions, registering a growth of 26.14%. The profit after tax grew to Rs. 86.727 Millions, growing by 37.92% over the previous year. Consolidated profit after tax grew to Rs.89.551 Millions, growing by 55.18%.

Landmark Events:

In the year gone by Compuage has continued to invest in infrastructure, reach and product portfolio all of which shall enable the company to continue its growth. New products signups were Cisco Networking Products, Dell Netbooks , Energy Range of Power Products, HCL range of PCs, HP Range of Consumables (with Printers already with us), Kingston complete Range of Memory Products and Microsoft Licensing Products.

The Company has:

(1) Ventured overseas by floating a wholly owned subsidiary in the name of Compuage Infocom (S) Pte. Limited to address Indian Subcontinent and Other Asian markets.

(2) Acquired 80% stake in ADIT eCommerce Private Limited , a company focusing on online business. Online business is bound to grow and they would like to be well entrenched and benefit when the market explodes.

UNAUITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30^TH SEPTEMBER 2011

Rs in Millions

				Quarter Ended	Half Year Ended
	Particulars			Unaudited	Unaudited
				30.09.2011	30.09.2011
1	(a) Net Sales/Income from Operations			4362.040	7594.120
	(b)Other Operating Income			--	--
2	Expenditure
	(a)		Cost of Goods Sold	3920.251	6830.605
	(b)		Employees Cost	46.026	85.770
	©		Depreciation	4.538	7.874
	(d)		Other Expenditure	320.899	542.896
	(e)		Total (Any item exceeding 10% of the total Expenditure to be shown separately)	4291.714	7467.145
3			Profit from operation before other income, interest and other exceptional items(1-2)	70.326	126.975
4			Other Income	2.918	6.008
5			profit before interest and exceptional items(3+4)	73.244	132.983
6	Interest			19.858	40.085
7	Profit after interest but before exceptional items(5-6)			53.386	92.898
8	Exceptional Items			--	--
9	Profit(+)/Loss(-) from Ordinary Activities before tax (7-8)			53.386	92.898
10	Tax Expenses			17.733	30.858
11	Net Profit(+)/Loss(-) from Ordinary Activities after tax( 9-10)			35.653	62.040
12	Extra Ordinary Items			--	--
13	Net Profit(+)/Loss(-) for the period (1112)			35.653	62.040
14	Paid-up Equity Share Capital Rs.2/ per share			66.550	66.550
15	Reserves excluding revaluation reserves			438.069	438.069
16		Earning Per Share
		Basic and diluted EPS		5.36	9.32
17		Public Shareholding
		- Number of Shares		2141047	2141047
		- Percentage of Shareholding		32.17 %	32.17 %
18		Promoters and Promoter group
		a) Pledged/Encumbered
		Number of shares		Nil	Nil
		Percentage of Shares (as a % of the total shareholding of promoter and promoter group)		Nil	Nil
		Percentage of Shares (as a % of the total share capital of the Company)		Nil	Nil
		b) Non-encumbered
		Number of shares		4513953	4513953
		Percentage of Shares (as a % of the total shareholding of promoter and promoter group)		100.00 %	100.00 %
		Percentage of Shares (as a % of the total share capital of the Company)		67.83 %	67.83 %

Notes :

1. The above results have been taken on record by the Board of Directors sat its meeting held of 11^th November 2011.

2. The company is in the business of distribution of computer parts and peripherals in India having similar risks and rewards and therefore there is only one geographical sand business segment.

3. Provision for tax, including Deferred tax, has been worked out at normal corporate tax rates

4. Details of number of Investor complaints for the quarter ended 30^th September 2011 : Beginning – Nil Received : 2, Pending : Nil

5. The Statutory Auditors have carried out a Limited Review of the unaudited Financial Results for the period ended 30^th September 2011

6. The Statutory Auditors of the Company have applied to ICAI for Peer Review Certificate

7. The company has made allotment of 995000 Equity Shares of Rs. 10/- each sat a premiums of Rs. 57 /-each on conversion of 995000 Equity warrants to the prompters Group of the company.

8. The Company has made allotment of 480000 Equity Shares of Rs. 10/- each at premium of Rs. 136/- each on preferential allotment basis to the non promoters group of the company.

9. The company’s Board of Directors has declared Interim Dividend of Rs. 1/- per share.

10. Figures of Subsidiaries Companies are not incorporated in above results.

11. Figures have been regrouped / rearranged, wherever necessary.

12. The statement of assets and liabilities as at 30^th September 2011 is given below.

STATEMENT OF ASSETS AND LIABILITIES AS ON SEPTEMBER 30, 2011

Rs in Millions

	Rs in Millions
PARTICULARS	As on 30.09.2011
	(Unaudited)
SHAREHOLDERS FUNDS
Share Capital	66.550
Convertible Warrants	0.000
Reserves & Surplus	438.069
LOAN FUNDS	1085.173
DEFERRED TAX LIABILITIES	9.271
TOTAL	1599.063
FIXED ASSETS	82.032
INVESTMENT	16.127
CURRENT ASSETS, LOANS & ADVANCES
Inventories	1929.114
Sundry Debtors	1722.270
Cash & Bank Balances	317.770
Loans & Advances	466.030
	4435.184
Less : CURRENT LIABILITIES & PROVISIONS
Other Current Liabilities	2823.706
Provisions	122.879
	2946.585
Net Current Assets	1488.599
Miscellaneous Expenses	12.305
TOTAL	1599.063

Business Description

Subject

sUSBJ is engaged in the business of distribution of computer parts and peripherals in India. The Company’s subsidiaries include Greenvision Technologies Private Limited, ADIT E-commerce Private Limited, and Compuage Infocom (S) Private Limited Greenvision Technologies Private Limited focuses on power solutions for the enterprise customers and sealed maintenance free batteries for the uninterruptible power system (UPS) segment, as well as engaged in exploring manufacturing of batteries. ADIT E-commerce Private Limited is engaged in online business. Compuage Infocom (S) Pte. Limited is formed to expand the Company’s business operation in Singapore. As at March 31, 2011, the Company held 76% of the Equity Share Capital and voting power of Greenvision Technologies Private Limited For the nine months ended 31 December 2010, Compuage Infocom Limited's revenues increased 28% to RS9.83B. Net income increased 43% to RS64M. Revenues reflect an increase in income from operations and higher other income. Net income reflects a decrease in interest expense. The Company is in the business of distribution of information technology (IT) infrastructure projects in India and also engaged in distribution of computer parts.

Board of Directors

Atul H. Mehta

Mr. Atul H. Mehta is Executive Chairman of the Board and Managing Director of Compuage Infocom Limited He has done MBA in finance from USA and he is in the Trading business since 1987 and under his leadership the Company has made excellent progress in the Information Technology business.

Vijay Agarwal

Shri. Vijay Agarwal is Non-Executive Independent Director of Compuage Infocom Limited Shri. Agarwal is a Practicing chartered Accountant for last 25 years specialized in corporate Advisory, Tax and Audit field. As an independent director and Chartered Accountant by Profession he has been adding value to the Group. He is a member of the Audit Committee and Share Transfer and Investor Grievance Committee of the Company. His holding in the Company is Nil Shares.

Ganesh Shiva Ganesh

Shri. Ganesh Shiva Ganesh is Non-Executive Independent Director of Compuage Infocom Limited He is a qualified Chartered Accountant and is associated with Merchant Banking business from last 20 years. He has worked with Sharp and Tennan, Chartered Accountants, 20ths Century Finance Corporation Limited, Infrastructure Leasing and Financial Services Limited and Ind Global Financial Trust Limited. He is the Chairman of the Audit committee and remuneration committee and member of Share Transfer Committee & Investor Grievance Committee of the Company.

Bhavesh H. Mehta

Mr. Bhavesh H. Mehta is Chief Operating Officer and Whole Time Director of Compuage Infocom Limited He has done M.com with specialization in Marketing and Experience in Import and Logistics and he is in the business since 1994.

Preeti K. Trivedi

Ms. Preeti K. Trivedi is Non-Executive Independent Director of Compuage Infocom Limited She is a Fellow Chartered Accountant with over 20 years’ experience in the field of Management Consulting and Corporate Finance. Experience in areas of Business and Share Valuation, Corporate Restructuring, Mergers & Amalgamation, Strategic Advisory services relating to Joint Ventures, FIPB and EOU, Due Diligence, Relevant Tax and Company Law Advice, Financial Planning and Project Funding. She is the Chairperson of Share Transfer & Investor Grievance Committee and a member of Audit Committee, Remuneration Committee and Management performance Review Committee of the Company. Her holding in the Company is Nil shares.

High-End Consumer Audio Brand Edifier International Ties-Up With Compuage to Strengthen its Brand in India

16 November 2011

India, Nov. 16 -- Edifier International Company Limited, prominent designer and manufacturer of high-end consumer audio electronics for both the consumer electronics and multimedia markets, have announced a partnership agreement with Compuage Infocom Limited, one of India's large Information Technology distributor.

Under the recent changes to Compuage Infocom Limited, from Shaiba Infotech, the terms of agreement have been to solely collaborate with Compuage Infocom Limited, to consolidate and increase sales and brand recognition for Edifier and key sales channels for both product ranges.

Edifier International specializes in the design and manufacturing of high-end audio electronics for both the consumer electronic and multimedia markets, providing a wide selection of products to suit each individuals taste and needs. Edifier International is renowned for its development and use of acoustic technology, superior manufacturing standards and uncompromised quality in design and production of audio speakers. Edifier International is committed to excellence in all audio markets in which it operates, which include PC audio, multimedia audio, docking audio, IT and Home audio. Edifier is committed to excel and extend the audio experience into further evolving both the global brand and product recognition, with a passion for sound.

Edifier continues to expand its operations and presence, moving towards the goal of becoming a world class, internationally recognized company specializing in quality audio solutions for the ever changing consumer electronics industry.

"We are thrilled to be working with Compuage Infocom Limited" said Mr Anthony Wilkinson, Managing Director at Edifier International Company Limited "The Company has an extensive operations system that includes highly developed retailers and resellers that range from large to small operations. I am confident that this alliance with Compuage Infocom Limited will not only help develop and strengthen the brand but will prove to assist both parties in achieving their respective corporate objectives." Published by HT Syndication with permission from India PRwire. For any query with respect to this article or any other content requirement.

Compuage Infocom fixes record date for interim dividend

14 November 2011

India, Nov. 14 -- Compuage Infocom has informed that November 28, 2011 has been fixed as the record date for the purpose of payment of interim dividend. Further the payment of interim dividend to the equity shareholders of the company will be paid on or before December 08, 2011.The above information is part of the company's filing submitted to the BSE. Published by HT Syndication with permission from Accord Fintech. For any query with respect to this article or any other content requirement.

Compuage Infocom declares Interim Dividend

12 November 2011

India, Nov. 12 -- Compuage Infocom has informed that the board of directors of the company at its meeting held on November 11, 2011, has declared payment of Interim Dividend at the rate of Rs. 1 per equity share of the company.The above information is part of the company's filing submitted to the BSE. Published by HT Syndication with permission from Accord Fintech. For any query with respect to this article or any other content requirement.

Compuage Infocom to consider interim dividend

07 November 2011

India, Nov. 07 -- Compuage Infocom has informed that a meeting of the board of directors of the company will be held on November 11, 2011, to consider and approve the unaudited financial results for the quarter & half year ended September 30, 2011 and to consider and declare the interim dividend to equity shareholders of the company, if any. The above information is part of the company's filing submitted to the BSE. Published by HT Syndication with permission from Accord Fintech. For any query with respect to this article or any other content requirement.

Fixed Assets:

· Office Premises

· Information Technology

· Equipments

· Vehicle

· Office Equipment

· Furniture and Fixture

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.50.56
UK Pound	1	Rs.81.04
Euro	1	Rs.67.48

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		53

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.