MIRA INFORM REPORT

Report Date :

09.07.2012

IDENTIFICATION DETAILS

Name :	SHREEJEE ELECTRONICS PRIVATE LIMITED
Registered Office :	573 Main Road, Chirag Delhi, 1^stFloor, New Delhi-110017
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.12.1987
Com. Reg. No.:	55-030085
Capital Investment / Paid-up Capital :	Rs.2.500 Millions
CIN No.: [Company Identification No.]	U74899DL1987PTC030085
TAN No.: [Tax Deduction & Collection Account No.]	DELS02632A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of transformers / inductors / coils in ferrite and iron core.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 40000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an old and small company having moderate track. There appears a slight dip in the sales turnover and the profitability of the company during the year 2011. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 – 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. Prabhat Nagar
Designation :	Managing Director
Contact No.:	91-9312403175 / 91-9810063012
Date :	25.06.2012

LOCATIONS

Registered Office :	573, 1^stFloor, Main Road, Chirag Delhi, New Delhi-110017, India.
Tel. No.:	91-11-29258585 / 29251227 / 29259711
Mobile No.:	91-9312403175 / 9810063012 (Mr. Prabhat Nagar)
Fax No.:	91-11-29258585 / 29251227 / 41834110 / 29259711
E-Mail :	prabhat@shreejee.co prabhat.nagar@yahoo.com shreejee@bol.net.in mdg@airtelbroadband.in legal@mdgco.in
Website :	http://www.shree.co
Location :	Owned
Factory :	C – 45 Sector -6, Noida, Uttar Pradesh - 201301, India
Tel. No.:	91-120-4558493
Fax No.:	91-120-4558493

DIRECTORS

As on 30.09.2012

Name :

Mr. Prabhat Kumar Nagar

Designation :

Director

Address :

78, Gautam Apartments, Gautam Nagar, New Delhi-110049, Delhi, India.

Date of Appointment :

28.12.1987

DIN No.:

00040696

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	U74899DL1987PTC030085	SHREEJEE ELECTRONICS PRIVATE LIMITED	Director	28/12/1987	28/12/1987	-	Active	NO
2	U74899DL1990PTC039476	Q-FACTOR FINANCE AND INVESTMENTS PRIVATE LIMITED .	Director	01/03/1996	01/03/1996	-	Active	NO
3	U74899DL1991PTC045561	ILA CREATIVE TECHNOLOGIES PRIVATE LIMITED	Director	31/01/2009	31/01/2009	-	Active	NO
4	U51500DL2006PTC154762	SATCON ENTERPRISES PRIVATE LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO
5	U67120DL2006PTC146083	AADHAR PORTFOLIO SERVICES PRIVATE LIMITED	Director	14/11/2009	14/11/2009	-	Active	NO
6	U72900KA2007PTC044151	WIZTOONZ ANIMATIONS PRIVATE LIMITED	Director	28/09/2010	09/02/2010	-	Active	NO
7	U74899DL1989PTC034697	SHREEJEE ASSOCIATES PRIVATE LIMITED	Director	26/12/2011	26/12/2011	-	Active	NO
8	U74899DL1980PTC010111	MDG ASSOCIATES PRIVATE LIMITED	Additional director	28/05/2012	28/05/2012	-	Active	NO

Name :

Mrs. Kiran Gujarati

Designation :

Director

Address :

J-8, Green Park Extension, New Delhi-110016, Delhi, India.

Date of Appointment :

01.08.2000

DIN No.:

00074699

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	U74899DL1989PTC034697	SHREEJEE ASSOCIATES PRIVATE LIMITED	Director	30/07/1997	30/07/1997	-	Active	NO
2	U74899DL1987PTC030085	SHREEJEE ELECTRONICS PRIVATE LIMITED	Director	01/08/2000	01/08/2000	-	Active	NO
3	U74899DL1991PTC045561	ILA CREATIVE TECHNOLOGIES PRIVATE LIMITED	Director	18/05/2001	18/05/2001	08/02/2007	Active	NO
4	U74899DL1995PLC067629	AADHAR FINANCIAL SERVICES LIMITED	Director	01/04/2009	01/04/2009	-	Active	NO
5	U67120DL2006PTC146083	AADHAR PORTFOLIO SERVICES PRIVATE LIMITED	Director	14/11/2009	14/11/2009	-	Active	NO

Name :

Mrs. Sharda Nagar

Designation :

Director

Address :

78, Gautam Apartments, Gautam Nagar, New Delhi-110049, Delhi, India.

Date of Appointment :

01.08.2000

DIN No.:

01276683

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	U74899DL1987PTC030085	SHREEJEE ELECTRONICS PRIVATE LIMITED	Director	01/08/2000	01/08/2000	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Prabhat Kumar Nagar	33150
Sharda Nagar	1250
Mansi Gujarati U/G Mr. M.D. Gujarati	2750
Kiran Gujarati	6460
M.D. Gujarati	3000
S. M. Nagar	55100
Rachana Lad	240
J. K. Satta	500
Prabhat Kumar Nagar and Rashmi Nagar	18000
S.M. Nagar and Sharda Nagar	2500
Sharda Nagar and S.M. Nagar	14500
Rashmi Nagar and Prabhat Kumar Nagar	5000
M.D. Gujarati and Kiran Gujarati	2500
Madhusudan Das Gujarati and M. D. Gujarati	7300
Kiran Gujarati and M. D. Gujarati	25000
Pragya Gujarati U/G M. D. Gujarati	2750
Mr. Madhusudhan Das Gujarati	50000
Satcon Enterprises Private Limited (India)	20000
Total	250000

As on 30.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	8.00
Directors or relatives of Directors	91.80
Other top fifty shareholders	0.20
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of transformers / inductors / coils in ferrite and iron core.
Products :	Transformers Ø SMPS Transformers Ø Linear Transformers (up to 3 KVA) Ø Isolation Transformers Ø Pulse Transformers Ø Current Transformers Ø Power Transformers Ø Lighting Transformers (also LED Lighting Transformer) Ø Potential Transformers Ø Custom Engineered Transformers Ø PCB Mountable Transformers Ø High Frequency Transformers (Ferrite Transformer) Ø Electrical Transformers Ø CT Transformers Ø Toroidal Transformers Ø Inductors Ø Chokes Ø Adaptors Ø Ferrite Coils Ø Air Coils Ø Line Filters Ø Wound Magnetic Components for telecommunication and electronic industries.
Exports :
Products :	· Transformers · Inductors · Coils in ferrite · Iron core.
Countries :	UK
Imports :
Products :	Raw Material
Countries :	· China · Turkey
Terms :
Selling :	L/C / Credit (30 days / 60 days)
Purchasing :	Cash / Credit (30 days / 60 days)

GENERAL INFORMATION

Customers :

· Wholesalers

· Retailers

· End Users

No. of Employees :

25 (Approximately)

Bankers :

Ø Indian Bank, # 106-107, DDA Commercial Complex, Aurbindo Marg, Hauz Khas, New Delhi-110016, Delhi, India.

Ø ICICI Bank

Ø Canara Bank

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From ICICI Bank (secured against hypothecation of car )	0.000	0.056
From Indian Bank (Secured against Fixed Deposit)	0.000	4.699
Bank Overdraft – Indian Bank (Against hypothecation of stocks and book debts)	1.247	1.465
From Indian Bank (Against hypothecation of Property)	6.947	0.000
From Indian Bank (Against hypothecation of Property)	1.718	0.000
Total	9.912	6.220

Banking Relations :	--
Auditors :
Name :	R. Krishna and Associates Chartered Accountant
Address :	27, C Pocket C SFS Flats, Green View Apartments, Mayur Vihar Phase III, New Delhi-110096, Delhi, India.
PAN.:	AAHFR6875P

CAPITAL STRUCTURE

As on 30.09.2011

Authorized Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 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		2.500	2.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		8.115	7.839	7.547
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		10.615	10.339	10.047
LOAN FUNDS
1] Secured Loans		9.912	6.220	0.160
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		9.912	6.220	0.160
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		20.527	16.559	10.207
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		15.551	0.772	0.843
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.306	0.276	0.264
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.016	1.956	1.997
	Sundry Debtors	2.147	3.396	3.873
	Cash & Bank Balances	0.100	5.720	5.100
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.897	6.836	0.694
Total Current Assets		8.160	17.908	11.664
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.277	1.344	1.440
	Other Current Liabilities	0.065	0.009	0.051
	Provisions	1.148	1.044	1.073
Total Current Liabilities		3.490	2.397	2.564
Net Current Assets		4.670	15.511	9.100
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		20.527	16.559	10.207

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	9.625	10.822	12.948
		Other Income	0.737	0.438	0.271
		TOTAL	10.362	11.26	13.219
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		Financial Expenses
		TOTAL	9.368	10.645	12.535
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.994	0.615	0.684
Less/ Add	DEPRECIATION/ AMORTISATION		0.534	0.174	0.207
	PROFIT BEFORE TAX		0.460	0.440	0.477
Less	TAX		0.184	0.148	0.229
	PROFIT AFTER TAX		0.276	0.292	0.248
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.539	2.247	1.999
	BALANCE CARRIED TO THE B/S		2.815	2.539	2.247
	Earnings Per Share (Rs.)		1.104

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	10.000	9.600

Expected Sales (2012 - 13): Rs.11.000 millions

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

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.66	2.59	1.87
Net Profit Margin (PBT/Sales)	(%)	4.15	4.07	3.68
Return on Total Assets (PBT/Total Assets}	(%)	1.68	2.36	3.81
Return on Investment (ROI) (PBT/Networth)		0.03	0.04	0.04
Debt Equity Ratio (Total Liability/Networth)		1.26	0.83	0.27
Current Ratio (Current Asset/Current Liability)		1.74	7.47	4.54

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	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	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
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

Financial Results and Operations:

During the year the company has achieved a sales turnover and related income of Rs. 9.625 million as compared to previous year Rs. 10.822 million, showing an annualized decline of 12.43%. Company has made a profit of Rs. 0.276 millions as against profit of Rs. 0.292 million during the previous year.

The directors of the company are making their best efforts to secure more business for the company. They look to the future with optimism.

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U74899DL1987PTC030085
Name of the company	SHREEJEE ELECTRONICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	573, 1^stFloor, Main Road, Chirag Delhi, New Delhi-110017, India. e-mail: mdg@airtelboardband.in
Type of charge	§ Immovable Property § Others (Personal Guarantee and Hypothecation of stock)
Particular of charge holder	Indian Bank, # 106-107, DDA Commercial Complex, Aurbindo Marg, Hauz Khas, New Delhi-110016, Delhi, India.
Email	rajendra.prasad97@gmail.com
Nature of description of the instrument creating or modifying the charge	1.Medium Term Loan Agreement (Bldg) Rs.7.6 million.(D-36) 2.Medium Term Loan Agreement (Reno) Rs.1.7 million.(D-36) 3.Medium Term Loan Agreement (Mach) Rs.2.0 million D-36) 4.Agreement of Hypothecation of Movables (OCC) Rs.3.2 million (D-101)
Date of instrument Creating the charge	22.01.2010
Amount secured by the charge	Rs. 14.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest BPLR+TP i.e. 12+0.50% for Term Loan (Bldg, Reno, and Mach) BPLR i.e. 12% for OCC Terms of Repayment 60 Month for Term Loan (Bldg) 60 Month for Term Loan (Reno) 60 Month for Term Loan (Mach) One Year for OCC Margin 40% for Term Loan (Bldg) 40% for Term Loan (Reno) 25% for Term Loan (Mach) 25% for OCC Extent and Operation of the charge As per Agreement
Short particulars of the property charged	PRIMARY SECURITIES :- 1.) Property Situated at C-45, Sec-6 NOIDA (UP) 2.) Property at Green Park, New Delhi for H/L in the name of Mr. Prabhat Nagar 3.) Personal Guarantee-Mr. Prabhat Nagar 4.) Hypothecation of Stock

Fixed Assets:

Ø Land

Ø Building

Ø Plant and Machinery

Ø Office Equipments

Ø Furniture and Fixtures

Ø Electric Fan and Fitting

Ø Computer

Ø Generator

Ø Car

Ø Water Cooler

Ø Scooter

Ø Cooler

Ø C.C T.V

Ø Camera

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.55.41
UK Pound	1	Rs.86.04
Euro	1	Rs.68.60

INFORMATION DETAILS

Information Gathered by :	JIMIL
Report Prepared by :	NID

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	5
--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		30

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.