MIRA INFORM REPORT

Report Date :

04.04.2012

IDENTIFICATION DETAILS

Name :	ELIN ELECTRONICS LIMITED
Registered Office :	143 Cotton Street, Kolkata- 700007, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.03.1982
Com. Reg. No.:	21-034725
Capital Investment / Paid-up Capital :	Rs.62.877 Million
CIN No.: [Company Identification No.]	U29304WB1982PLC034725
TAN No.: [Tax Deduction & Collection Account No.]	CALE00746E/ CALE00685G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Electronic Products and Components
No. of Employees :	Not Available

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 a well 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 :	Mr. Chaudhary
Designation :	Accounts Department
Date :	17.02.2011

LOCATIONS

Registered Office :	143, Cotton Street, Kolkata – 700 007, West Bengal, India
Tel No.:	Not Available
Fax No:	Not Available
E-Mail :	rkc@elinindia.com
Website :	http://www.elinindia.com
Factory 1 :	C-143, Industrial Area, Site No:1, Bulandshahar Road, Ghaziabad – 201 009, Uttar Pradesh, India
Tel. No.:	91-120-2701519-24
Fax No.:	91-120-2702087
E-Mail :	elin-gzb@elinindia.com
Area :	Land:45200 Covered : 26600
Factory 2 :	L-84, Verna Industrial Estate, Verna, Salcatte, Goa – 403 722, India
Tel. No.:	91-832-2783730/ 731/ 736/ 376
Fax No.:	91-832-2783001
E-Mail :	elinelel@sancharnet.in
Factory 3 :	Village Bhelikhol, Tehsil, Nalagarh, District: Solan, Himachal Pradesh, India
Tel. No.:	91-1795-236898
Fax No.:	91-1795-236988
E-Mail :	elin_baddi@sancharnet.in
Branch Office :	Elin House, 4771, Bharatram Road, 23, Daryaganj New Delhi – 110 002, India
Tel. No.:	91-11-43000400
Fax No.:	91-11-23289340
E-Mail :	elintdm@ndf.vsnl.net.in headoffice@elinindia.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Kamal Sethia

Designation :

Whole Time Director

Address :

4771, Bharat Ram Road, 23, Darya Ganj, New Delhi – 110 002, India

Date of Birth/Age :

28.10.1957

Date of Appointment :

06.08.2007

DIN No.:

00081116

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	U32109WB1988PTC095530	ASIAN MAGNETIC DEVICES PRIVATE LIMITED	Director	5/25/1988	5/25/1988	9/30/2007	Active	NO
2	U01122WB1950PTC018549	KANCHAN COMMERCIAL CO PRIVATE LIMITED	Director	12/19/1988	12/19/1988	-	Active	NO
3	U65923WB1987PTC042096	GAURAV RESOURCES COMPANY PRIVATE LIMITED	Director	8/28/1995	8/28/1995	-	Active	NO
4	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED	Whole-time director	7/1/2011	8/6/2007	-	Active	NO

x

Name :

Mr. Mangi Lall Sethia

Designation :

Chairman cum Managing Director

Address :

4771, Bharat Ram Road, 23, Darya Ganj, New Delhi – 110 002, India

Date of Birth/Age :

07.12.1937

Date of Appointment :

26.03.1982

DIN No.:

00081367

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	U01122WB1950PTC018549	KANCHAN COMMERCIAL COMPANY PRIVATE LIMITED	Director	11/28/1961	11/28/1961	-	Active	NO
2	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED	Managing director	7/1/2011	3/26/1982	-	Active	NO
3	U65923WB1987PTC042096	GAURAV RESOURCES COMPANY PRIVATE LIMITED	Director	3/24/1987	3/24/1987	-	Active	NO
4	U29219HP1983PTC005404	MAGTRONIC DEVICES PRIVATE LIMITED	Director	12/29/1988	12/29/1988	-	Active	NO
5	U74899DL1984PTC019023	PUNCH PARKASHAN PRIVATE LIMITED	Director	4/2/1989	4/2/1989	8/3/2010	Active	NO

Name :

Mr. Kishor Sethia

Designation :

Whole Time Director

Address :

4771, Bharat Ram Road, 23, Darya Ganj, New Delhi – 110 002, India

Date of Birth/Age :

14.06.1959

Date of Appointment :

06.08.2007

DIN No.:

00081488

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	U01122WB1950PTC018549	KANCHAN COMMERCIAL COMPANY PRIVATE LIMITED	Director	1/30/1988	1/30/1988	-	Active	NO
2	U65923WB1987PTC042096	GAURAV RESOURCES COMPANY PRIVATE LIMITED	Director	8/28/1995	8/28/1995	-	Active	NO
3	U31300HP2002PTC025355	ELIN APPLIANCES PRIVATE LIMITED	Director	9/27/2004	9/27/2004	12/21/2009	Active	NO
4	U34100DL2007PLC164171	LIFELONG ELIN AUTO COMPONENTS LIMITED	Director	5/30/2007	5/30/2007	-	Active	NO
5	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED	Whole-time director	7/1/2011	8/6/2007	-	Active	NO

Name :

Mr. Vinay Kumar Sethia

Designation :

Whole Time Director

Address :

E-21, Sector – 30, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

21.05.1951

Date of Appointment :

26.03.1982

DIN No.:

00082184

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
1	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED	Whole-time director	7/1/2011	3/26/1982	-	Active
2	U32301WB1997PTC082621	CALCUTTA ELECTRONICS PRIVATE LIMITED	Director	7/17/2000	7/17/2000	-	Active

Name :

Mr. Budh Singh Sethia

Designation :

Whole Time Director

Address :

Sethia Sadan, B-23, Sector – 14, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

15.01.1950

Date of Appointment :

26.03.1982

DIN No.:

00082232

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	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED.	Whole-time director	7/1/2011	3/26/1982	-	Active	NO
2	U29219HP1983PTC005404	MAGTRONIC DEVICES PRIVATE LIMITED	Director	12/29/1988	12/29/1988	-	Active	NO
3	U40101DL2004PTC127077	REVLITE ENERGY SOLUTIONS PRIVATE LIMITED	Director	6/22/2004	6/22/2004	-	Active	NO
4	U72300DL2007PTC166713	GEO CALL CONNECT SERVICE SOLUTIONS PRIVATE LIMITED	Additional director	9/10/2007	9/10/2007	-	Active	NO

Name :

Mr. Ravi Bhikamchand Sethia

Designation :

Whole Time Director

Address :

5, Janki Shah Road, Kolkata – 700 022, West Bengal, India

Date of Birth/Age :

19.04.1965

Date of Appointment :

04.10.2004

DIN No.:

00086092

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	U15132WB1951PTC019873	BANSHIHARI RICE MILLS PRIVATE LIMITED	Director	10/5/1987	10/5/1987	7/7/2009	Active	NO
2	U29309MH1991PTC063707	AISHANI ELECTRONICS PPRIVATE LIMITED	Director	10/22/1991	10/22/1991	1/12/2010	Active	NO
3	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED	Whole-time director	10/1/2009	10/4/2004	-	Active	NO
4	U25190WB2008PTC126120	ZENITH POLYMERS PRIVATE LIMITED	Director	5/26/2008	5/26/2008	4/15/2009	Active	NO
5	U51109WB2008PTC127965	ESTEEM TRADELINK PRIVATE LIMITED	Director	8/30/2008	8/30/2008	-	Active	NO
6	U25190WB2005PTC104281	GLOBUS RUBCHEM PRIVATE LIMITED	Director	9/4/2009	9/4/2009	-	Active	NO

Name :

Mr. Vijay Singh Sethia

Designation :

Director

Address :

B-140-141, Sector – 30, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

21.01.1941

Date of Appointment :

26.04.1996

DIN No.:

00354684

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	U24247WB1992PLC053986	SETHIA OIL INDUSTRIES LIMITED	Director	11/21/1994	11/21/1994	-	Active	NO
2	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED	Director	4/26/1996	4/26/1996	-	Active	NO
3	U32301WB1997PTC082621	CALCUTTA ELECTRONICS PRIVATE LIMITED	Director	1/17/1997	1/17/1997	-	Active	NO
4	U15143WB2006PLC108159	SETHIA AGROTECH LIMITED	Director	2/21/2006	2/21/2006	11/17/2009	Active	NO
5	U74200DL2010PTC205442	SANPRE DESIGNS PRIVATE LIMITED	Director	7/7/2010	7/7/2010	-	Active	NO

Name :

Mr. Sanjeev Sethia

Designation :

Whole Time Director

Address :

B-140-141, Sector – 30, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

24.04.1969

Date of Appointment :

29.08.2008

DIN No.:

00354700

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	U32301WB1997PTC082621	CALCUTTA ELECTRONICS PRIVATE LIMITED	Director	7/17/2000	7/17/2000	-	Active	NO
2	U32109WB1988PTC095530	ASIAN MAGNETIC DEVICES PRIVATE LIMITED	Director	8/29/2000	8/29/2000	8/29/2008	Active	NO
3	U00000DL2000PTC108492	SEBOK INTERNATIONAL PRIVATE LIMITED	Director	11/10/2000	11/10/2000	12/25/2009	Active	NO
4	U15143WB2006PLC108159	SETHIA AGROTECH LIMITED	Director	2/21/2006	2/21/2006	11/10/2009	Active	NO
5	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED	Whole-time director	7/1/2011	8/29/2008	-	Active	NO
6	U74200DL2010PTC205442	SANPRE DESIGNS PRIVATE LIMITED	Director	7/7/2010	7/7/2010	-	Active	NO
7	U34100DL2007PLC164171	LIFELONG ELIN AUTO COMPONENTS LIMITED	Director	2/13/2012	2/13/2012	-	Active	NO

Name :

Mr. Sumit Sethia

Designation :

Whole Time Director

Address :

9, Sagar Housing Co-Operative Society, Donapaulo, Goa – 403 006, India

Date of Birth/Age :

01.04.1973

Date of Appointment :

06.08.2007

DIN No.:

00831799

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	U32109WB1988PTC095530	ASIAN MAGNETIC DEVICES PRIVATE LIMITED	Director	5/25/1997	5/25/1997	9/30/2007	Active	NO
2	U64940GA2004PTC003619	AAMRAPALI DIGITAL IMAGING PRIVATE LIMITED	Director	10/6/2004	10/6/2004	-	Active	NO
3	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED	Whole-time director	7/1/2011	8/6/2007	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Mitra Kumari Gulgulia
Designation :	Secretary
Address :	Deshnoke, Bikaner, Rajasthan – 334801, Rajasthan, India
Date of Birth/Age :	22.10.1982
Date of Appointment :	16.08.2011
PAN No.:	ATOPM6349M

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Sethia Ashok	80300
Sethia Alok	80800
Sethia Budh Singh	39000
Sethia Bhikam Chand	102700
Sethia Jhinkar	282500
Sethia Kamal	177000
Sethia Kishor	289400
Sethia Mangilal	310400
Sethia Moti Lal	160500
Sethia Pradeep	116000
Sethia Premlata	117000
Sethia Rainidevi	107000
Sethia Rakesh	170500
Sethia Ravi	193000
Sethia Suman	225000
Sethia Sajjan	30000
Sethia Sanjeev	148100
Sethia Vasudha	133400
Vijay Singh	101200
CRB Corporation Limited, India	320000
CRB Mutual Fund, India	300000
Rosebud Holding Private Limited, India	438400
Sethia Gaurav	22500
Shinwa Ind. (HK) Limited, Hong Kong	499100
Sumit Sethia	141700

Equity Share Break up (Percentage of Total Equity) (As on 30.09.2011)

Category	Percentage
Mutual funds	4.77
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	7.49
Bodies corporate	15.17
Directors or relatives of Directors	71.96
Other top fifty shareholders	0.16
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electronic Products and Components

Products :

Item Code No. (ITC Code)	852290.00
Product Description	Tape Deck Mechanism
Item Code No. (ITC Code)	850110.01
Product Description	D.C. Micro/ UV Motor
Item Code No. (ITC Code)	940590.00
Product Description	Electric Light Fittings
Item Code No. (ITC Code)	851310.10
Product Description	Led Flash Light

PRODUCTION STATUS

(As on 31.03.2011)

Particulars	Unit	Licensed Capacity *	Installed Capacity	Actual Production
Tape Deck Mechanism	Nos.	N.A.	1 ,200,000	191,900
Micro Motors	Nos.	N.A.	3 ,000,000	1,057,269
UV Motor	Nos.	N.A.	1 ,000,000	1,530,625
Electric Light Fittings	Nos.	N.A.	3 ,000,000	2,762,217
DVD Parts	Nos.	N.A.	5 ,000,000	1,796,801
Dies Tools and Moulds	Nos.	N.A.	400	253
Submersible Pump	Nos.	N.A.	500,000	410,857
Smt Pcb Assy	Nos.	N.A.	500,000	11,043
Led flash Light	Nos.	N.A.	2 0,000,000	14,167,874
Plastic Moulded Items for Radio/Cassette Recorder/Iron/Toaster /Mixer/Juicer and Others	Nos.	N.A.	--	4,020,378

GENERAL INFORMATION

Customers :

• Philips India Limited
• Sony India Private Limited
• BPL
• Matsushita Air Conditioning India Limited
• Hitachi
• Blue Star
• Carrier Aircon Limited
• LG Electronics India Limited
• Bajaj Auto Limited
• Daikin Shriram Air Conditioning Private Limited
• Black and Decker
• Tata Ficosa
• Denso (Haryana) Private Limited
• Voltas
• Super Cassette Ind. (T-Series)
• Trusound (Ahuja Radios)
• Videocon
• Thomson Consumer Electronics
• Matsushita India
• Feeders Lloyd Corporation Limited

No. of Employees :

Not Available

Bankers :

State Bank of India, Industrial Finance Bank, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi-110001, Delhi, India

(Rs. In Millions)

Facilities :

Secured Loans	31.03.2011	31.03.2010
A) Rupee term loans secured
Rupee term loans banks secured	122.980	100.538
Rupee term loans others secured	6.395	8.456
Total	129.375	108.994
B) Working capital loan secured
Working capital loan bank secured	230.796	227.194
Total	230.796	227.194
Total (A+B)	360.171	336.188
Note: A) State Bank of India (Secured by way of First Hypothecation Charge over Assets procured out of the Terms Loans. These loans are further secured by first charge over the entire movable and immovable and Fixed Assets of the Company, other than specific Assets referred in Point No – C below and personal guarantee of the Directors of the Company) Amount payable within one year Rs 56.200 Million (Previous year Rs.40.300 Million) B) State Bank of India (Secured by Hypothecation of Stock of Raw Material, Work in Progress, Finished Goods Consumable Store, book Debts and other Current Assets of the Company, both present and future. These Loans are further secured by first charge over the entire movable and immovable Fixed Assets of the Company, other than Specific Assets referred in Point No. C below and personal guarantee of the Directors of the Company

Banking Relations :	--
Auditors :
Name :	Chaturvedi and Company Chartered Accountants
Address :	2-1, Park Centre, 24, Park Street, Kolkata – 700 016, West Bengal, India
Associates	Elin Appliances Private Limited Lifelong Elin Auto Comp. Limited
Enterprises Over Which Key Management Personnel Have Significant Influence	· Electronic Components Industries · GEO Call Connect Service Solution Private Limited · Kanchan Commercial Private Limited · Magtronic Devices Private Limited · Revlite Finance and Trading Company · Aishani Electronics Private Limited · Calcutta Electronics Private Limited

CAPITAL STRUCTURE

As on 31.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
75,00,000	Equity Shares	Rs.10/- each	Rs.75.000 Millions
	Total		Rs.75.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
38,87,700	Equity Shares (Equity Shares of Rs.10/- each fully paid-up in cash)	Rs.10/- each	Rs.38.877 Millions
24,00,000	Equity Shares (Equity Shares of Rs.10/- each allotted for consideration other than cash)	Rs.10/- each	Rs.24.000 Millions
	Total		Rs.62.877 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		62.877	62.877	62.877
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		440.469	384.807	320.844
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		503.346	447.684	383.721
LOAN FUNDS
1] Secured Loans		360.171	336.189	286.808
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		360.171	336.189	286.808
DEFERRED TAX LIABILITIES		13.518	12.422	11.585
TOTAL		877.034	796.295	682.114
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		375.504	321.223	282.218
Capital work-in-progress		23.370	24.709	1.045
INVESTMENT		12.012	11.674	11.252
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	345.222	239.661	242.294
	Sundry Debtors	286.049	281.183	262.963
	Cash & Bank Balances	23.203	24.963	22.152
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	150.415	123.469	92.895
Total Current Assets		804.889	669.276	620.304
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	250.996	162.854	168.827
	Other Current Liabilities	46.140	39.318	35.093
	Provisions	41.605	28.415	28.785
Total Current Liabilities		338.741	230.587	232.705
Net Current Assets		466.148	438.689	387.599
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		877.034	796.295	682.114

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2269.813	1850.769	1777.944
		Other Income	7.452	10.214	3.489
		TOTAL (A)	2277.265	1860.983	1781.433
Less	EXPENSES
		Consumption materials changes inventories	1586.275	1260.360
		Manufacturing service costs	198.441	171.871
		Employee related expenses	221.754	186.264
		Administrative selling other expenses	58.833	47.030
		Research development expenditure	26.663	24.352
		TOTAL (B)	2091.966	1689.877	1628.223
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		185.299	171.106	153.210
Less	FINANCIAL EXPENSES (D)		57.346	41.369	54.901
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		127.953	129.738	98.309
Less/ Add	DEPRECIATION/ AMORTISATION (F)		57.868	50.532	48.781
	PROFIT BEFORE TAX (E-F) (G)		70.085	79.205	49.528
Less	TAX (I)		14.423	15.242	6.585
	PROFIT AFTER TAX (G-I) (J)		55.662	63.963	42.196
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		160.140	136.177	123.981
Less	APPROPRIATIONS
		Transfer to General Reserve	40.000	40.000	30.000
	BALANCE CARRIED TO THE B/S		175.802	160.140	136.177
	EARNINGS IN FOREIGN CURRENCY		1.480	5.632	NA
	IMPORTS
	Raw Materials		189.000	182.928	NA
	Capital Goods		25.783	32.232	NA
	Total		214.783	215.16	NA
	Earnings Per Share (Rs.)		9.00	10.27	6.70

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.02	0.03	0.02
Net Profit Margin (PBT/Sales)	(%)	0.03	0.04	0.02
Return on Total Assets (PBT/Total Assets}	(%)	0.08	0.11	0.07
Return on Investment (ROI) (PBT/Networth)	(%)	0.13	0.17	0.12
Debt Equity Ratio (Total Liability/Networth)	(%)	0.67	0.51	0.60
Current Ratio (Current Asset/Current Liability)	(%)	2.37	2.90	2.66

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS:

During the year, Turnover inclusive of excise duty increased by 24 % to Rs. 2429.900 Million as against Ra.1952.594 Million in the previous year. The net profit after tax was Rs. 55.662 Million as against Rs. 63.963 Million in the previous year.

EXPANTION:

During the year under report, Universal motors and Electric Light Fitting Products contributed substantially in turnover and profitability. Further capacities of these products are being increased in the current year.

Corporate identity number of the company	U29304WB1982PLC034725
Name of the company	ELIN ELECTRONICS LIMITED
Address of the registered office or of the principal place of business in India of the company	143, Cotton Street, Kolkata – 700 007, West Bengal, India E-Mail: rkc@elinindia.com
This form is for	Modification of charge
Charge identification number of the modified	90251465
Type of charge	Immovable Property Book Debts Movable Property
Particular of charge holder	State Bank of India, Industrial Finance Branch, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi – 110 001, India E-Mail: prakash.sharma@sbi.co.in
Nature of description of the instrument creating or modifying the charge	Form C.1-A (Supplemental Agreement of loan for increase in the overall limit) Form C.2-A (Supplemental Agreement of Hypothecation of goods and assets for increase in the overall limit)
Date of instrument Creating the charge	08.10.2011
Amount secured by the charge	Rs.675.700 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 3 % above base rate i.e. 13 % p.a. at monthly rests on cash credit ; AT 4% above base rate i.e. currently 14 % p.a. with Reset after every two years on New Term Loans-VI. Terms of Repayment: TL-V (New TL) - 16 quarterly installments of Rs.1.875 Millions each, commencing from April 12 and ending in jan 16. Margin: Raw Material - 25% Stock in Process - 25% Finished Goods - 25% Spares and Stores - 25% Receivables (cover period-90 days) - 35% LC/BG - 10% Extent and Operation of the charge: Cash Credit: First charge by way of hypothecation on entire current assets including raw material, stock in process, finished goods, consumables, stores and spares and receivables of company and extension of charge on entire fixed assets of the company. Term Loan: First charge on entire fixed assets of the company including Equitable Mortgage of 1- Factory land and building at C-143, C-144, C-144/2, Site No.-1, BSR Road, Ghaziabad 2.Factory, Land and Building at L84 Verna Industrial Area, Goa and extension of charge on entire assets of company.
Short particulars of the property charged	1. EQM of factory land and building at C-143, C-144, C-144/2 Site No. 1, Bullandshahar Road, Industrial Area, Ghaziabad 2.EQM of factory land and building at L-84, Verna Industrial Area, Goa hypothecation on the entire current assets including raw material, stock in process, finished goods, consumables, stores and spares and receivables of the company and entire fixed assets
Date of latest modification prior to the present modification	03.11.2010
Particulars of the present modification	Total limits increased from Rs.5.957 Millions to Rs.6.757 Millions with increase in cash credit limit from Rs. 250.000 Millions to Rs.300.000 Millions and Fresh Term Loan V of Rs.30.000 Millions.

FIXED ASSETS:

· Leasehold Land

· Building (Factory and Non Factory)

· Plant and Machinery (Including Pollution Control Equipment and R and D Machinery, Tools etc.)

· Dies, Moulds and Tools

· Electric Installations

· Furniture and Fixtures

· Office Equipments

· Vehicles

· Goodwill

· Technical Know How

WEBSITE DETAILS:

AWARDS:

1982	ELCINA award for Excellence In Exports
1991-92	1991-92 Philips (C.E.) the Best Co-maker award. Elin R and D Recognised by Department of Science and Technology, Govt. of India.
1993	Two Star Industries award from Directorate of Industries
1994	Import Substitution award from All India Radio and Electronic Association
1994	Excellence in Electronics award from Govt. of India.
1996	ISO 9001 certification by DNV (Netherlands) ELCINA award for Indigenous Development of Capital Goods
1997-98	ESC award for Excellence in Export. ELCINA award for Export Growth.
1997-98	ELCINA award for Excellence in Quality. National award for Excellence in Electronic Components from Deptt. of Electronics (Govt. of India)
1999-00	ELCINA award for Indigenisation of Capital Goods for Manufacture of Electronic Products. ELCINA award for Research and Development Work in the field of electronic components.
2001-02	2001-02 ELCINA award of Excellence for Environment Management ELCINA award for Quality
2002-03	Quality Excellence Award from Institute of Trade and Industrial Development
2003-04	Certificate of Green Partner from Sony – Japan (ROHS Compliance)
2006 -07	Best Delivery Performance Award from Denso
2007-08	MSME – National Award -2008 Ministry of Micro, Small and Medium Enterprises, Govt. of India for outstanding efforts in Entrepreneurship
2008-09	FICCI-SEDF Corporate Social Responsibility Award 2009. “Jury Commendation Award” Category: Small and Medium Enterprises (SMEs)
2008-09	Award for Best Performance in Outstanding support from Denso
2009-10	Award For Best Performance in Cost from Denso
2009-10	HR Excellence Award for The Year 2009-10
2009-10	Gold Award for Innovation In RETENTION STRATEGY.

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.51.15
UK Pound	1	Rs.81.79
Euro	1	Rs.68.34

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	5
--PROFITABILIRY	1~10	5
--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.