MIRA INFORM REPORT

Report Date :

03.02.2012

IDENTIFICATION DETAILS

Name :	RGB TECHNOLOGIES PRIVATE LIMITED (w.e.f. 27.01.2006)
Formerly Known As :	RGB CONSULTANTS PRIVATE LIMITED
Registered Office :	306, Highway Commerce Centre, I. B. Patel Road, Goregaon (East), Mumbai – 400063, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.04.1997
Com. Reg. No.:	11-107118
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U72100MH1997PTC107118
IEC No.:	309013267
TAN No.: [Tax Deduction & Collection Account No.]	MUMR23383D
PAN No.: [Permanent Account No.]	AABCR4703R
Legal Form :	Private Limited Liability Company
Line of Business :	Consultancy and Development of hardware, firmware and software of Automation.
No. of Employees :	23 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a relatively small company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. 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. Jitendra S. Jadhav
Designation :	Manager
Contact No.:	91-9320013360
Date :	02.02.2012

LOCATIONS

Registered Office :	306, Highway Commerce Centre, I. B. Patel Road, Goregaon (East), Mumbai – 400063, Maharashtra, India
Tel. No.:	91-22-26856385/32263300
Fax No.:	91-22-39167447
E-Mail :	info@rgb.co.in sales.rgb@gmail.com
Website :	www.rgb.co.in
Area :	750 Sq. ft
Location :	Rented

DIRECTORS

As on 30.09.2011

Name :	Manoj Devchand Bhataria
Designation :	Director
Address :	21- Jyotinagar, Near RTO, 4-Bungalows, Andheri (West), Mumbai – 400053, Maharashtra, India
Date of Birth/Age :	19.01.1968
Qualification :	B. Tech, M. Tech
Experience :	21 Years
Date of Appointment :	07.04.1997
DIN No.:	00354996
Name :	Mr. Umesh Jagannath Kamat
Designation :	Director
Address :	B-201, Dahisar Shiv Om Co-operative Housing Society, C. S. Complex , Road No.2, Dahisar (East), Mumbai – 400068, Maharashtra, India
Date of Birth/Age :	16.08.1968
Qualification :	B. Tech, M. Tech
Experience :	20 Years
Date of Appointment :	07.04.1997
DIN No.:	00348735
Name :	Mr. Avinash Gunaji Panchal
Designation :	Director
Address :	D2/182, Sanjivani Society, Charkop Sector I, Kandivali (West), Mumbai – 400067, Maharashtra, India
Date of Birth/Age :	03.08.1966
Qualification :	B. Tech, M. Tech
Experience :	22 Years
Date of Appointment :	03.08.2002
DIN No.:	01360957

KEY EXECUTIVES

Name :	Mr. Jitendra S. Jadhav
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Bhataria Devchand Manoj	400
Kamat Jaganath Umesh	400
Panchal Gunaji Avinash	200
Total	1000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Consultancy and Development of hardware, firmware and software of Automation.
Agencies Held :	· Brookhaven Instruments Corporation, USA · Sono-Tek Corporation, USA · Westech Instruments Services, UK · Thermo Scientific, USA
Exports :
Products :	· Pall Brand Syringe Filters · Communication Base Unit
Countries :	· Dubai · Switzerland
Imports :
Products :	· Calibration/ validation standards of Thermo Scientific · Scientific Equipments of Brookhaven Instruments Corporation
Countries :	· USA · USA
Terms :
Selling :	Cash/ Credit (30 days)
Purchasing :	Cash/ Credit (30 days)

GENERAL INFORMATION

Customers :

· Wholesalers

· Retailers

· OEM’s

· End Users

· Government Institutes, Labs

No. of Employees :

23 (Approximately)

Bankers :

State Bank of India, Plot No. 12, Jayprakash Nagar, Jayprakash Road No. 2, Goregaon (East), Mumbai – 400063, Maharashtra, India

Facilities :

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Shareholders	0.222	0.122
Total	0.222	0.122

Banking Relations :	--
Auditors :
Name :	P.M. John and Company Chartered Accountants
Address :	Seervai Building B, 20-G, N. Bharucha Marg, Mumbai – 400007, Maharashtra, India
Tel. No.:	91-22-23813241
Fax No.:	91-22-39167447
E-Mail :	mail@pmjco.com
PAN.:	AAAFP2021N

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.10/- each	Rs.0.100 Million

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		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4.325	3.517	2.573
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.425	3.617	2.673
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.222	0.122	0.122
TOTAL BORROWING		0.222	0.122	0.122
DEFERRED TAX LIABILITIES		0.000	0.011	0.000
TOTAL		4.647	3.750	2.795
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.461	0.488	0.202
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.031	0.000	0.010
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.303	0.032	0.000
	Sundry Debtors	2.322	1.183	0.804
	Cash & Bank Balances	1.876	1.847	1.440
	Other Current Assets	0.685	0.548	0.573
	Loans & Advances	2.464	1.769	1.445
Total Current Assets		7.650	5.379	4.262
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.593	0.070	0.000
	Other Current Liabilities	1.002	0.590	0.541
	Provisions	1.900	1.457	1.138
Total Current Liabilities		3.495	2.117	1.679
Net Current Assets		4.155	3.262	2.583
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.647	3.750	2.795

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Professional and Service Charges	3.817	2.628	2.863
		Sales	6.784	0.562	0.000
		Other Income	0.096	2.551	2.521
		TOTAL (A)	10.697	5.741	5.384
Less	EXPENSES
		Consumables	4.266	0.398	0.000
		Staff Expenses	3.607	2.570	1.646
		Administrative Expenses and General Expenses	1.365	1.145	0.594
		TOTAL (B)	9.238	4.113	2.240
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.459	1.628	3.144
Less	FINANCIAL EXPENSES (D)		0.029	0.012	0.006
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.430	1.616	3.138
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.194	0.132	0.090
	PROFIT BEFORE TAX (E-F) (G)		1.236	1.484	3.048
Less	TAX (H)		0.427	0.541	0.962
	PROFIT AFTER TAX (G-H) (I)		0.809	0.943	2.086
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		3.516	2.573	0.487
	BALANCE CARRIED TO THE B/S		4.325	3.516	2.573
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.699	2.420	2.519
	TOTAL EARNINGS		0.699	2.420	2.519
	Earnings Per Share (Rs.)		808.69	943.26	2086.41

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	7.56	16.42	38.74
Net Profit Margin (PBT/Sales)	(%)	18.22	264.06	0.00
Return on Total Assets (PBT/Total Assets}	(%)	15.24	25.29	68.28
Return on Investment (ROI) (PBT/Networth)		0.28	0.41	1.14
Debt Equity Ratio (Total Liability/Networth)		0.84	0.62	0.67
Current Ratio (Current Asset/Current Liability)		2.19	2.54	2.54

LOCAL AGENCY FURTHER INFORMATION

Note: The registered address of the company D/25, Shruti Co-operative Housing Society Limited, Mhada S V Patel Nagar, Andheri (West), Mumbai – 400053, Maharashtra, India has been shifted to the present address

TRADE REFERENCES

· Supreme Industrial Works, Mumbai

Address: A 6-7, Laghu Udyog, I B Patel Road, Gurgaon (East), Mumbai – 400063, Maharashtra, India

Tel No.: 91-22-26853085 (Mr. Bhupendra Kansara)

· Surya Equipments Private Limited, Kolhapur

Address: B-39, M.I.D.C. Gokul Shirgaon, Kolhapur – 416234, Maharashtra, India

Tel No.: 91-231-2672414 (Mr. Avinash Panchal)

· Drupe Engineering Private Limited, Taloja

Address: B29/2, MIDC, Taloja, Navi Mumbai, District – Raigad – 410206, Maharashtra, India

Tel No.: 91-22-27401153 (Mr. Fazal Mokashi)

FIXED ASSETS

· Furniture and Fixture

· Electrical Fittings

· Computer

· Mobile Phone/ Telephone

· Vehicles

· ISP I- Programmer

· Oscilloscope – Owon

· Office Equipment

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.49.13
UK Pound	1	Rs.77.85
Euro	1	Rs.64.75

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		43

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.