MIRA INFORM REPORT

Report Date :

01.08.2012

IDENTIFICATION DETAILS

Name :	AMARA RAJA ELECTRONICS LIMITED [w.e.f. 23.02.2009]
Formerly Known As :	AMARA RAJA ELECTRONICS PRIVATE LIMITED
Registered Office :	Renigunta - Cuddapah Road, Karakambadi, Tirupati – 517520, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.08.1999
Com. Reg. No.:	01-032257
Capital Investment / Paid-up Capital :	Rs.92.050 Millions
CIN No.: [Company Identification No.]	U31402AP1999PLC032257
IEC No.:	0904006913
TAN No.: [Tax Deduction & Collection Account No.]	HYDA02630F
VAT / TIN :	33811121936
PAN No.: [Permanent Account No.]	AAECA2774J
Legal Form :	A closely held a Public limited liability company.
Line of Business :	Manufacturer of Consumer Power Solution.
No. of Employees :	400 (In Office 100 + In Factory 300) Approximately

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 680000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate record. Profitability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	A4+ (SHORT TERM)
Rating Explanation	Minimal degree of safety regarding timely payment of financial obligation it carry very high credit risk.
Date	07.09.2011

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	Renigunta - Cuddapah Road, Karakambadi, Tirupati – 517520, Andhra Pradesh, India
Tel No.:	91-877–2265000
Fax No.:	91-877-2285600/ 2285599
E-Mail :	xenon@amararaja.co.in mjk@amararaja.co.in usk@amararaja.co.in
Website :	http://www.amararaja.co.in http://amararajaelectronics.com
Location :	Owned
Corporate Office :	Riaz Garden, VI Floor, No.12, Kodambakkam, High Road, Chennai – 600034, Tamilnadu, India
Tel. No.:	91-44-28213270 / 42910700 / 42910740
Fax No.:	91-44-28284821
Factory :	Diguvamagham Village and Post, Thavanampalli, Mandalam, Chittor – 517129, District Andhra Pradesh, India
Tel. No.:	91-8573-283636 / 283789
Fax No.:	91-8573-283836

DIRECTORS

As on 25.08.2011

Name :	Mr. Ramachandra Naidu Galla
Designation :	Director
Address :	Giridrushya Renigunta - Cuddapah Road, Karakambadi, Tirupati, Chittoor – 517520, Andhra Pradesh, India
Date of Birth/Age :	01.06.1938
Date of Appointment :	09.08.1999
DIN :	00133761

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L31402AP1985PLC005305	AMARA RAJA BATTERIES LIMITED	Director	1/9/2005	8/7/1985	-	Active	NO
2	U31102AP1984PLC005165	AMARA RAJA POWER SYSTEMS LIMITED	Managing director	19/06/2009	8/7/1985	-	Active	NO
3	U15122AP1990PLC011932	MANGAL INDUSTRIES LIMITED	Director	17/01/1994	17/01/1994	-	Active	NO
4	U31402AP1999PLC032257	AMARA RAJA ELECTRONICS LIMITED	Managing director	21/06/2010	9/8/1999	-	Active	NO
5	U15134AP2004PLC042852	GALLA FOODS LIMITED	Director	11/3/2004	11/3/2004	-	Amalgamated	NO
6	U24111AP1988PLC009231	ANDHRA PRADESH GAS POWER CORPORATION LIMITED	Director	29/09/2004	29/09/2004	-	Active	NO
7	U74990AP2008PTC057464	AMARON BATTERIES PRIVATE LIMITED	Director	6/2/2008	6/2/2008	-	Active	NO
8	U45309AP2008PTC059398	AMARA RAJA INFRA PRIVATE LIMITED	Director	29/05/2008	29/05/2008	-	Active	NO
9	U93000AP2009PTC064031	AMARA RAJA INDUSTRIAL SERVICES PRIVATE LIMITED	Director	17/06/2009	17/06/2009	-	Active	NO
10	U65993AP2010PTC066519	RNGALLA FAMILY HOLDINGS PRIVATE LIMITED	Director	1/1/2010	1/1/2010	-	Active	NO

Name :	Mr. Jayadev Galla
Designation :	Director
Address :	H No. A-54, Road, No.11, Filmanagar, Jubileehills, Rangareddy District Hyderabad 500034, Andhra Pradesh, India
Date of Birth/Age :	24.03.1966
Date of Appointment :	07.06.2007
DIN :	00143610

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31102AP1984PLC005165	AMARA RAJA POWER SYSTEMS LIMITED	Director	14/08/1993	14/08/1993	-	Active	NO
2	L31402AP1985PLC005305	AMARA RAJA BATTERIES LIMITED	Managing director	1/9/2010	12/3/1994	-	Active	NO
3	U15122AP1990PLC011932	MANGAL INDUSTRIES LIMITED	Director	2/12/2000	2/12/2000	-	Active	NO
4	U15134AP2004PLC042852	GALLA FOODS LIMITED	Managing director	1/4/2009	11/3/2004	-	Amalgamated	NO
5	U31402AP1999PLC032257	AMARA RAJA ELECTRONICS LIMITED	Director	7/6/2007	7/6/2007	-	Active	NO
6	U74990AP2008PTC057464	AMARON BATTERIES PRIVATE LIMITED	Director	6/2/2008	6/2/2008	-	Active	NO
7	U45309AP2008PTC059398	AMARA RAJA INFRA PRIVATE LIMITED	Director	29/05/2008	29/05/2008	-	Active	NO
8	U93000AP2009PTC064031	AMARA RAJA INDUSTRIAL SERVICES PRIVATE LIMITED	Director	17/06/2009	17/06/2009	-	Active	NO
9	U65993AP2010PTC066519	RNGALLA FAMILY HOLDINGS PRIVATE LIMITED	Director	1/1/2010	1/1/2010	-	Active	NO

Name :	Ms. Ramadevi Gourineni
Designation :	Director
Address :	3420, Adam Street, Hinsdale, Illinois – 60523, USA
Date of Birth/Age :	22.09.1964
Date of Appointment :	31.10.2000
DIN :	01347211

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31402AP1999PLC032257	AMARA RAJA ELECTRONICS LIMITED	Director	31/10/2000	31/10/2000	-	Active	NO
2	U15122AP1990PLC011932	MANGAL INDUSTRIES LIMITED	Director	31/10/2002	31/10/2002	-	Active	NO
3	U31102AP1984PLC005165	AMARA RAJA POWER SYSTEMS LIMITED	Director	31/10/2002	31/10/2002	-	Active	NO
4	U15134AP2004PLC042852	GALLA FOODS LIMITED	Director	22/11/2004	22/11/2004	-	Amalgamated	NO
5	L31402AP1985PLC005305	AMARA RAJA BATTERIES LIMITED	Director	22/06/2007	22/06/2007	14/08/2008	Active	NO

Name :	Mr. Rajeev Karwal
Designation :	Director
Address :	1410A, Beverty Park II, DLF Phase II, Gurgaon – 122002, Haryana, India
Date of Birth/Age :	11.04.1963
Date of Appointment :	19.06.2009
DIN :	01234017

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999DL2007PTC160165	MILAGROW BUSINESS AND KNOWLEDGE SOLUTIONS PRIVATE LIMITED	Director	6/3/2007	6/3/2007	-	Active	NO
2	U74899DL1993PLC055816	ONICRA CREDIT RATING AGENCY OF INDIA LIMITED	Additional director	22/05/2007	22/05/2007	29/09/2007	Active	NO
3	U72900GJ2000PTC038565	DEEPROOT LINUX PRIVATE LIMITED	Director	1/1/2008	1/1/2008	-	Active	NO
4	U74999KA2007PTC044745	ROBHATAH ROBOTIC SOLUTIONS PRIVATE LIMITED	Director	30/09/2008	10/7/2008	-	Active	NO
5	U80301MH2009NPL192548	ACADEMY OF INDIAN MARKETING PROFESSIONALS	Director	21/05/2009	21/05/2009	-	Active	NO
6	U31402AP1999PLC032257	AMARA RAJA ELECTRONICS LIMITED	Director	22/07/2009	19/06/2009	-	Active	NO
7	AAA-5668	TORCH BEARER MARKETING CONSULTANTS LLP	Designated Partner	21/07/2011	21/07/2011	-	Active	NO

Name :	Mr. Adiseshaiah Chowdary Jakkampudi
Designation :	Additional Director
Address :	A-60, A.P. Text Book Press Colony, Gunrock Enclave, Kharkhana, Hyderabad – 500003, Andhra Pradesh, India
Date of Birth/Age :	18.02.1955
Date of Appointment :	09.03.2010
DIN :	01109704

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U64203AP1999PTC032338	PORTALPLAYER (INDIA) PRIVATE LIMITED	Managing director	4/10/1999	4/10/1999	-	Amalgamated	NO
2	U45200AP2001PLC038175	INDU PROJECTS LIMITED	Director	7/12/2005	7/12/2005	28/09/2011	Active	NO
3	U01403AP2008PTC061625	NAGA AGROTECH PRIVATE LIMITED	Director	31/10/2008	31/10/2008	-	Active	NO
4	U64203AP2006PTC051815	INDYAROCKS MEDIA SERVICES PRIVATE LIMITED	Director	4/1/2010	4/1/2010	17/03/2011	Active	NO
5	U72200AP2006PTC049075	CAVERA SYSTEMS (INDIA) PRIVATE LIMITED	Director	30/09/2010	1/2/2010	31/05/2011	Active	NO
6	U40108AP2010PTC067338	NEOSOLAR SYSTEMS PRIVATE LIMITED	Director	3/3/2010	3/3/2010	-	Strike off	NO
7	U31402AP1999PLC032257	AMARA RAJA ELECTRONICS LIMITED	Director	13/09/2010	9/3/2010	-	Active	NO
8	U80902AP2008PTC062284	TALENTSPRINT EDUCATION SERVICES PRIVATE LIMITED	Whole-time director	10/3/2010	10/3/2010	-	Active	NO
9	U72200AP2000PTC034927	MONARCH INFO TECH SERVICES PRIVATE LIMITED	Director	1/10/2010	1/10/2010	-	Active	NO
10	U64200AP2011PTC072283	MOJOSTREET INFOMEDIA SERVICES PRIVATE LIMITED	Director	28/09/2011	11/4/2011	-	Active	NO
11	U72200AP2011PTC073902	TENXLABS TECHNOLOGIES PRIVATE LIMITED	Director	15/04/2011	15/04/2011	-	Active	NO
12	U74120AP2012NPL081700	HYDERABAD ANGELS FORUM FOR ENTREPRENEURSHIP DEVELOPMENT	Director	28/06/2012	28/06/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.08.2011

Names of Shareholders	No. of Shares
Amara Kumari Galla	1579800
Jayadev Galla	100100
Ramachandra Naidu Galla	8650100
Ramadevi G	100000
Ravindra Naidu	10000
Sudhakar Naidu	5000
W Prabhakar Naidu	5000
W Vadrararajulu Naidu	5000
Harshavardhana	310000
Vikramaditya	310000
Ashok Galla	310000
Siddharth Galla	310000
M. Latha	10000
Total	11705000

As on 25.08.2011

Category	Percentage
Directors or relatives of directors	99.70
Other top fifty shareholders	0.30
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Consumer Power Solution.

Products :

Item Code (ITC Code)	Product Description
850440.90	UPS
850440.30	Auto Battery Chargers
850440.90	Converters
940540.90	LED Lantern

PRODUCTION STATUS AS On 31.03.2011

Particulars	Unit	Installed Capacity	Actual Production
UPS	Nos.	900000	172076
Converters, Inverters and SMR’s	Nos.	50000	29149
Battery Chargers	Nos.	10000	1226
LED Lantern	Nos.	200000	10666

GENERAL INFORMATION

No. of Employees :

400 (In Office 100 and In Factory 300) Approximately

Bankers :

• State Bank of India, Branch Settipalli, Renigunta Road, Tirupati – 517520, Andhra Pradesh, India
• Indian Bank, Gandhi Road, Tirupathi - 517501, Andhra Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	31.03.2011	31.03.2010
Term Loan	237.060	173.445
working capital Loan	95.812	77.608
Car Loan	0.024	0.293
(Secured against hypothecation of Specific assets)
Total	332.896	251.346

Banking Relations :	--
Auditors :
Name :	E. Phalguna Kumar and Company Chartered Accountants
Address :	599/2, Balaji Colony, Tirupati – 517520, Andhra Pradesh, India
Pan No.:	AADSE1485A
Associates :	· Amara Raja Industrial Services Private Limited
Sister Concern :	Amara Raja Batteries Limited Amara Raja Power System Limited Mangal Precisions Products Limited Amara Raja Electronics Limited Galla Foods Limited Amara Raja Infra Private Limited Amaron Batteries Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Share	Rs.10/- Each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9,205,000	Equity Share	Rs.10/- Each	Rs.92.050 Millions

AS ON 25.08.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
14,000,000	Equity Share	Rs.10/- Each	Rs.140.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11,705,000	Equity Share	Rs.10/- Each	Rs.117.050 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		92.050	92.050	11.050
2] Share Application Money		25.000	0.000	20.000
3] Reserves & Surplus		53.183	49.984	56.740
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		170.233	142.034	87.790
LOAN FUNDS
1] Secured Loans		332.896	251.346	155.976
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		332.896	251.346	155.976
DEFERRED TAX LIABILITIES		8.178	0.000	3.288
TOTAL		511.307	393.380	247.054
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		450.577	50.721	38.485
Capital work-in-progress		2.622	241.482	84.263
INVESTMENT		0.045	0.045	0.000
DEFERREX TAX ASSETS		0.000	0.114	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	209.945	164.108	126.816
	Sundry Debtors	203.776	77.990	162.278
	Cash & Bank Balances	1.746	2.092	4.550
	Other Current Assets	0.056	0.011	0.000
	Loans & Advances	68.827	75.605	45.774
Total Current Assets		484.350	319.806	339.418
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	387.543	160.390	15.067
	Sundry Creditors	21.919	20.881	168.746
	Provisions	16.825	37.517	31.299
Total Current Liabilities		426.287	218.788	215.112
Net Current Assets		58.063	101.018	124.306
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		511.307	393.380	247.054

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1195.312	769.093	734.143
		Other Income	2.147	1.056	0.885
		TOTAL (A)	1197.459	770.149	735.028
Less	EXPENSES
		Consumption materials changes inventories	908.826	558.663	676.022
		Manufacturing service costs	5.712	3.830
		Employee related expenses	102.949	73.310
		Administrative selling other expenses	147.279	128.506
		Research development expenditure	2.280	2.144
		TOTAL (B)	1167.046	766.453	676.022
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		30.413	3.696	59.006
Less	FINANCIAL EXPENSES (D)		11.507	10.908	8.275
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		18.906	[7.212]	50.731
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.941	2.946	2.527
	PROFIT BEFORE TAX (E-F) (G)		10.965	[10.158]	48.204
Less	TAX (H)		7.766	3.402	17.494
	PROFIT AFTER TAX (G-H) (I)		3.199	[6.756]	30.710
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		49.273	56.029	25.319
	BALANCE CARRIED TO THE B/S		52.472	49.273	56.029
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	25.290	3.943	2.122
	TOTAL EARNINGS		25.290	3.943	2.122
	IMPORTS
		Raw Materials	101.850	82.53	NA
		Stores & Spares	0.320	1.050
		Capital Goods	30.730	18.610
	TOTAL IMPORTS		132.900	102.190	NA
	Earnings Per Share (Rs.)		0.35	[2.44]	9.89

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.27	[0.88]	4.18
Net Profit Margin (PBT/Sales)	(%)	0.92	[1.32]	6.57
Return on Total Assets (PBT/Total Assets}	(%)	1.17	[2.74]	12.76
Return on Investment (ROI) (PBT/Networth)		0.06	[0.07]	0.55
Debt Equity Ratio (Total Liability/Networth)		4.46	3.31	4.23
Current Ratio (Current Asset/Current Liability)		1.14	1.46	1.58

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
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	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Director, if available	No
32]	Passport No of Director, if available	No
33]	Voter ID No of Director, if available	No

PERFORMANCE

The vagaries of weather, leading to unpredictable swings in the market potential, tapering growth in the Home UPS market, entry of many consumer durables The company has now built-up the technology, skill base and manufacturing facilities to manufacture small high frequency transformers. The company has received The company has enhanced its product development capability in the embedded programming domain. Important value engineering projects have been taken up to make the company’s products competitive. Infrastructure at the company’s manufacturing facility in Diguvamagham has been expanded and now spans 20,000 sq., mts.,

OUTLOOK

The company plans to augment revenues by introducing Kitchen appliances products viz. Induction Cooker and Rice Cooker, marking its the entry into the Consumer Leveraging the existing 100 distributors, the company proposes to expand the retailers base from the current 1000 to 2000 with the addition of 1000 new retailers. Manufacturing services business lead by the small transformers business remains promising. The expansion in this segment will enable improved fixed cost absorption. Enquiries for “automotive electronics” manufacturing are strong with the robust growth experienced by the automotive segment.

CONTINGENT LIABILITY NOT PROVIDED FOR:

Particulars	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
1. Claims against the Company not acknowledged as debts
- Fuel Surcharge Adjustment charges for the period from Oct '08 to Mar '09	0.080	0.000
2. Other money for which the company is contingently liable
A. The following Disputed taxes are not provided in the books
- Disputed Sales Tax demand	24.200	1.440
B. The following bank guarantees/LC given by banks on behalf of the Company to customers are outstanding as on the data of Balance sheet date.
- Counter Guarantees to Bankers in respect of Bank guarantees issued in favour of various Constituents	11.810	1.880
- LC given to different vendors	13.530	0.000

FIXED ASSETS :

• Computers
• Land
• Building
• Furniture
• Office Equipments
• Plant and Machinery
• Vehicles
• Electrical Installation

AS PER WEBSITE DETAILS

COMPANY PROFILE

Subject is part of US $400mn Amara Raja Group with business interests in Industrial AND Automotive Batteries, Power Electronics, Fasteners, Sheet Metal Products and Food Processing.

Subject is a technologically progressive company with business focus in Consumer Power Solution (CPS), Consumer Durables (CD) and Electronics Manufacturing Services (EMS). The 20,000 sq.metre manufacturing facility is located in Chittoor which is strategically located between Bangalore and Chennai.

The workforce of subject pre-dominantly comprises of women who are trained on specialised skill sets in the field of PCB assembling and manufacturing, thereby creating non-migratory employment opportunities in rural India.

The Business focus

Subject focuses on product solutions that cater directly to general consumers and also offer Electronics Manufacturing Solutions support to global business entities. In simple terms, subject focuses on both B2B and B2C customers.

The company currently offers products and solutions in the Consumer Power Solutions category under the brand name ‘Tribal’.

Subject has positioned its EMS offering as a separate Strategic Business Unit. To know more about subject EMS, check the Electronics Manufacturing Solutions section.

Advantage Amara Raja

· World Class Customer Support.

· Integrated Manufacturing Solutions from Concept to Product Development & Manufacturing.

· Lean Manufacturing Practices (JIT, 5S, Kaizen, Six Sigma etc…)

· Strategically located between Bangalore and Chennai.

· Well connected to National Highway, Airport and Sea Ports. Young Workforce with average employee Age of 30 Yrs.

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.55.81
UK Pound	1	Rs.87.67
Euro	1	Rs.68.45

INFORMATION DETAILS

Report Prepared by :

BSN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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	-

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