MIRA INFORM REPORT

Report Date :

07.06.2012

IDENTIFICATION DETAILS

Name :	COTMAC ELECTRONICS PRIVATE LIMITED
Registered Office :	168, ‘S’ Block, MIDC, Bhosari, Pune-411026, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	09.01.1992
Com. Reg. No.:	11-016377
Capital Investment / Paid-up Capital :	Rs. 40.272 Millions
CIN No.: [Company Identification No.]	U31200PN1992PTC016377
TAN No.: [Tax Deduction & Collection Account No.]	PNEC00692G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of electrical and electronics equipment and trading in various kinds of electronics goods.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 510000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an 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. Manish
Designation :	Manager Head
Contact No.:	91-7709153252
Date :	14.05.2012

LOCATIONS

Registered Office :	168, ‘S’ Block, MIDC, Bhosari, Pune-411026, Maharashtra, India
Tel. No.:	91-20-30687200
Mobile No.:	91-7709153252 (Mr. Manish)
Fax No.:	91-20-27119870
E-Mail :	info@cotmac.com jayant.jm@gmail.com
Website :	www.comac.com
Area :	7000 Sq. Ft.
Location :	Owned
Factory :	Plot No.130 and 133A, Sector No.-10, PCNTDA, Bhosari, Pune-411026, Maharashtra, India
Tel. No.:	91-20-30687169
Fax No.:	91-20-27119870
Branch Office :	SURAT Plot # 612, Road no. 6, GIDC Industrial Estate, Sachin, SURAT - 394 230, Gujarat, India Ph:-91-261-2398755 / 56 Fax:91- 261-2398799 BANGLORE 70/5,Suvarna Towers, 21 Cross, Chbs Layout, Near Bda Complex, Vijaynagar, Bangalore – 560040, Karnataka, India Ph : 91-80-23146354 Fax : 91-80-23146354 HYDRABAD Street No: 9, H. No.430, Near Shenoy Nuursing Home, East Merradpally, [Hyderabad] Secunderabad-500 026 India Tel.: 91-40-40160727 Fax: 91-40-40160727

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Vikram Raghavesh Sirur
Designation :	Director
Address :	Opposite Corporation Office, 19, Lamington Road, Dharwad-580020 Karnataka, India
Date of Birth/Age :	16.12.1946
Date of Appointment :	09.01.1992
DIN No.:	00312980

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29150KA1986PTC007869	MIVEN MAYFRAN CONVEYORS PRIVATE LIMITED	Managing director	21-10-86	21-10-86	Active	NO
2	U15493KA1991PTC012376	RURIS TECNAL EXTRACTION SYSTEMS PRIVATE LIMITED	Managing director	03-10-91	03-10-91	Active	NO
3	U31200PN1992PTC016377	COTMAC ELECTRONICS PRIVATE LIMITED	Director	09-01-92	09-01-92	Active	NO
4	U01113KA1976PTC003027	MIPRO INTERNATIONAL PRIVATE LIMITED	Director	19-02-98	19-02-98	Active	NO
5	L29220KA1985PLC007036	MIVEN MACHINE TOOLS LIMITED	Whole-time director	01-07-10	15-10-98	Active	NO
6	U72200PN1999PTC013498	COTMAC INFOTECH PRIVATE LIMITED	Director	08-05-99	08-05-99	Active	NO
7	U17111KA1981PTC004382	N A SIRUR(HUBLI)PRIVATE LIMITED	Director	10-12-00	10-12-00	Active	NO
8	U31904MH1986PTC039713	FINEARC SYSTEMS PRIVATE LIMITED	Director	01-04-02	01-04-02	Active	NO
9	U29219KA2011PTC057337	PRATT AUTOMATION PRIVATE LIMITED	Director	02-03-11	02-03-11	Active	NO

Name :	Mr. Mukund Shankarrao Muley
Designation :	Managing Director
Address :	B-101, Sylvan Heights, Sanewadi, Aundh, Pune-411007, Maharashtra, India
Date of Birth/Age :	31.03.1966
Date of Appointment :	15.01.1992
DIN No.:	00818938

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	U31200PN1992PTC016377	COTMAC ELECTRONICS PRIVATE LIMITED	Managing director	01-04-06	15-01-92	-	Active	NO
2	U31909MH1997PTC107161	COTMAC ELECTRONICS (SURAT) PRIVATE LIMITED	Director	09-04-97	09-04-97	-	Active	NO
3	U31200PN2000PTC014637	COTMAC SYNERGY AUTOMATION PRIVATE LIMITED	Director	23-03-00	23-03-00	-	Under Process of Striking off	NO
4	U31909PN2000PTC014803	SOFTECH CONTROLS PRIVATE LIMITED	Director	25-04-00	25-04-00	-	Active	NO
5	U32204PN2000PTC015258	COTMAC TELECOM PRIVATE LIMITED	Director	25-08-00	25-08-00	-	Under Process of Striking off	NO
6	U29194PN2000PTC015657	COTMAC GASTEC PRIVATE LIMITED	Director	21-12-00	21-12-00	-	Active	NO
7	U72200PN1999PTC013498	COTMAC INFOTECH PRIVATE LIMITED	Director	01-06-01	01-06-01	-	Active	NO
8	L29220KA1985PLC007036	MIVEN MACHINE TOOLS LIMITED	Director	30-03-02	30-03-02	-	Active	NO
9	U72200PN2001PTC016204	PRO-EX SOLUTIONS PRIVATE LIMITED	Nominee director	20-03-06	20-03-06	20-09-11	Active	NO
10	U74999PN2012PTC142497	COTMAC DTM EXIM PRIVATE LIMITED	Director	12-03-12	12-03-12	-	Active	NO
11	U27320PN2012PTC142854	COTMAC PRECISION CASTINGS PRIVATE LIMITED	Director	02-04-12	02-04-12	-	Active	NO
12	U31908PN2012PTC143001	SERRA POWER SOLUTIONS INDIA PRIVATE LIMITED	Director	18-04-12	18-04-12	-	Active	NO

Name :	Mr. Pralhad Namdeorao Hage
Designation :	Whole Time Director
Address :	Flat No.5, Plot No.7, Praveen Plaza, Sector No.25, Pradhikaran Nigdi, Pune-411044, Maharashtra, India
Date of Birth/Age :	01.07.1965
Date of Appointment :	15.01.1992
DIN No.:	01033035

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	U31200PN1992PTC016377	COTMAC ELECTRONICS PRIVATE LIMITED	Whole-time director	15-01-92	15-01-92	-	Active	NO
2	U31909MH1997PTC107161	COTMAC ELECTRONICS (SURAT) PRIVATE LIMITED	Director	28-12-98	28-12-98	-	Active	NO
3	U31909PN2000PTC014803	SOFTECH CONTROLS PRIVATE LIMITED	Director	25-04-00	25-04-00	-	Active	NO
4	U31200PN2000PTC014637	COTMAC SYNERGY AUTOMATION PRIVATE LIMITED	Director	04-07-00	04-07-00	-	Under Process of Striking off	NO
5	U32204PN2000PTC015258	COTMAC TELECOM PRIVATE LIMITED	Director	25-08-00	25-08-00	-	Under Process of Striking off	NO
6	U29194PN2000PTC015657	COTMAC GASTEC PRIVATE LIMITED	Director	21-12-00	21-12-00	-	Active	NO
7	U72200PN1999PTC013498	COTMAC INFOTECH PRIVATE LIMITED	Director	01-06-01	01-06-01	-	Active	NO
8	U72200PN2001PTC016204	PRO-EX SOLUTIONS PRIVATE LIMITED	Nominee director	20-03-06	20-03-06	20-09-11	Active	NO
9	U27320PN2012PTC142854	COTMAC PRECISION CASTINGS PRIVATE LIMITED	Director	02-04-12	02-04-12	-	Active	NO

Name :	Mr. Shyam Sirur
Designation :	Whole Time Director
Address :	A 8/2, HDFC Colony, Chinchwad, Pune-411019, Maharashtra, India
Date of Birth/Age :	09.08.1948
Date of Appointment :	15.03.1993
DIN No.:	00134226

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	U01132PN1955PTC131061	COTMAC PRIVATE LIMITED	Whole-time director	02-04-07	01-12-72	-	Active	NO
2	U01113KA1976PTC003027	MIPRO INTERNATIONAL PRIVATE LIMITED	Director	01-11-76	01-11-76	-	Active	NO
3	U31102PN1989PTC016572	SUNNY WELD PRIVATE LIMITED	Director	15-09-89	15-09-89	07-02-11	Active	NO
4	U31200PN1992PTC016377	COTMAC ELECTRONICS PRIVATE LIMITED	Whole-time director	01-04-06	15-03-93	-	Active	NO
5	U72200MH1995PTC087911	MOMIC TECHNOLOGIES PRIVATE LIMITED	Director	01-05-95	01-05-95	-	Active	NO
6	U31909MH1997PTC107161	COTMAC ELECTRONICS (SURAT) PRIVATE LIMITED	Director	09-04-97	09-04-97	-	Active	NO
7	U17111KA1981PTC004382	N A SIRUR(HUBLI)PRIVATE LIMITED	Director	13-04-98	13-04-98	-	Active	NO
8	U51101KA1919ULL001442	SIBELLA PRIVATE LIMITED	Director	13-04-98	13-04-98	-	Active	NO
9	U72200PN1999PTC013498	COTMAC INFOTECH PRIVATE LIMITED	Director	01-04-99	01-04-99	-	Active	NO
10	U31200PN2000PTC014637	COTMAC SYNERGY AUTOMATION PRIVATE LIMITED	Director	23-03-00	23-03-00	-	Under Process of Striking off	NO
11	U31909PN2000PTC014803	SOFTECH CONTROLS PRIVATE LIMITED	Director	25-04-00	25-04-00	-	Active	NO
12	U32204PN2000PTC015258	COTMAC TELECOM PRIVATE LIMITED	Director	25-08-00	25-08-00	-	Under Process of Striking off	NO
13	U29194PN2000PTC015657	COTMAC GASTEC PRIVATE LIMITED	Director	21-12-00	21-12-00	-	Active	NO
14	L29220KA1985PLC007036	MIVEN MACHINE TOOLS LIMITED	Director	30-03-02	30-03-02	-	Active	NO
15	U72200PN2001PTC016204	PRO-EX SOLUTIONS PRIVATE LIMITED	Nominee director	20-03-06	20-03-06	20-09-11	Active	NO
16	U72200PN2007PTC130625	SIBELLA TECHNOLOGIES PRIVATE LIMITED	Director	29-08-07	29-08-07	-	Active	NO
17	U51909PN2010PTC136352	COTMAC INDUSTRIAL TRADING PRIVATE LIMITED	Director	19-05-10	19-05-10	-	Active	NO
18	U51101KA1960PTC001408	MOGORA COSMIC PRIVATE LIMITED	Director	07-02-11	07-02-11	-	Active	NO
19	U74999PN2012PTC142497	COTMAC DTM EXIM PRIVATE LIMITED	Director	12-03-12	12-03-12	-	Active	NO
20	U27320PN2012PTC142854	COTMAC PRECISION CASTINGS PRIVATE LIMITED	Director	02-04-12	02-04-12	-	Active	NO

Name :	Mr. Vivek Raghavesh Sirur
Designation :	Director
Address :	3058/59, Lamington Road, Hubli, Dharwad-580020, Karnataka, India
Date of Birth/Age :	16.06.1939
Date of Appointment :	06.07.1993
DIN No.:	00312929

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51101KA1960PTC001408	MOGORA COSMIC PRIVATE LIMITED	Director	12-01-68	12-01-68	Active	NO
2	U01132PN1955PTC131061	COTMAC PRIVATE LIMITED	Director	01-12-72	01-12-72	Active	NO
3	U51101KA1919ULL001442	SIBELLA PRIVATE LIMITED	Director	03-11-77	03-11-77	Active	NO
4	U17111KA1981PTC004382	N A SIRUR(HUBLI)PRIVATE LIMITED	Director	09-09-81	09-09-81	Active	NO
5	U31200PN1992PTC016377	COTMAC ELECTRONICS PRIVATE LIMITED	Director	06-07-93	06-07-93	Active	NO
6	U01113KA1976PTC003027	MIPRO INTERNATIONAL PRIVATE LIMITED	Managing director	10-08-01	10-08-01	Active	NO

Name :	Mr. Arjun Shyam Sirur
Designation :	Director
Address :	A 8/2, HDFC Colony, Chinchwad, Pune-411019, Maharashtra, India
Date of Birth/Age :	09.07.1978
Date of Appointment :	07.04.2003
DIN No.:	00480951

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U31200PN1992PTC016377	COTMAC ELECTRONICS PRIVATE LIMITED	Director	07-04-03	07-04-03	Active	NO
2	U01132PN1955PTC131061	COTMAC PRIVATE LIMITED	Managing director	02-04-07	07-04-03	Active	NO
3	U32109KA2006PTC038221	STAR WELD MACHINE PRIVATE LIMITED	Director	12-01-06	12-01-06	Active	NO
4	U72200PN2007PTC130625	SIBELLA TECHNOLOGIES PRIVATE LIMITED	Director	29-08-07	29-08-07	Active	NO
5	U51909PN2010PTC136352	COTMAC INDUSTRIAL TRADING PRIVATE LIMITED	Director	19-05-10	19-05-10	Active	NO
6	U31102PN1989PTC016572	SUNNY WELD PRIVATE LIMITED	Director	07-02-11	07-02-11	Active	NO
7	U27320PN2012PTC142854	COTMAC PRECISION CASTINGS PRIVATE LIMITED	Director	02-04-12	02-04-12	Active	NO

Name :	Mr. Chandrashekhar Shamsundar Adawadkar
Designation :	Additional Director
Address :	Palavi Building, Raanwara At Bavdhan Tal Mulshi, District Pune-412111, Maharashtra, India
Date of Birth/Age :	23.05.1968
Date of Appointment :	24.04.2010
DIN No.:	03061682
Name :	Mr. Amitendra Bhupendra Mazumdar
Designation :	Director
Address :	Flat No.201, Building A-2, Lunkad Gold Coast, Viman Nagar, Punue-411014, Maharashtra, India
Date of Birth/Age :	29.08.1956
Date of Appointment :	19.04.2006
DIN No.:	00649648
Name :	Mr. Janakkumar Pravinchandra Jariwala
Designation :	Director
Address :	36-37, Sant Tukaram Society, Near Amardip Apartment, Bhatar Road, Surat-395007, Gujarat, India
Date of Birth/Age :	07.10.1973
Date of Appointment :	19.04.2006
DIN No.:	00762596

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U31909MH1997PTC107161	COTMAC ELECTRONICS (SURAT) PRIVATE LIMITED	Whole-time director	09-04-97	09-04-97	Active	NO
2	U32204PN2000PTC015258	COTMAC TELECOM PRIVATE LIMITED	Director	25-08-00	25-08-00	Under Process of Striking off	NO
3	U51909GJ2004PTC045180	JARIWALA TRADING PRIVATE LIMITED	Director	20-12-04	20-12-04	Active	NO
4	U31200PN1992PTC016377	COTMAC ELECTRONICS PRIVATE LIMITED	Director	19-04-06	19-04-06	Active	NO
5	U31900GJ2008PTC052548	MAXIMUS TECHNOLOGIES PRIVATE LIMITED	Director	04-01-08	04-01-08	Active	NO

Name :	Ms. Suman Shyam Sirur
Designation :	Director
Address :	A 8/2, HDFC Colony, Chinchwad, Pune-411019, Maharashtra, India
Date of Birth/Age :	17.04.1955
Date of Appointment :	30.06.2009
DIN No.:	00480962

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U01132PN1955PTC131061	COTMAC PRIVATE LIMITED	Director	01-10-96	01-10-96	Active	NO
2	U72200PN1999PTC013498	COTMAC INFOTECH PRIVATE LIMITED	Director	01-04-99	01-04-99	Active	NO
3	U72200PN2007PTC130625	SIBELLA TECHNOLOGIES PRIVATE LIMITED	Director	29-08-07	29-08-07	Active	NO
4	U31200PN1992PTC016377	COTMAC ELECTRONICS PRIVATE LIMITED	Director	30-06-09	30-06-09	Active	NO

KEY EXECUTIVES

Name :	Mr. Manish
Designation :	Manager Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Equity Shareholders	Class A	Class B
Vikram Sirur	20	--
Shyam Sirur	30400	--
Mukund Muley	49200	84120
Pralhad Hage	49200	84120
N A Sirur (Hublt) Private Limited, India	52000	--
Sibella Private Limited, India	50940	--
Vajjlad A	--	100
Ganesh Gawate	--	5
Suresh Karale	--	5
Dilip Chorge	--	100
Vikrant Dhokale	--	5
Sagar Mehtre	--	5
Dhananjay Ghorpade	--	5
Minal Ghogare	--	5
Sanjay Mishra	--	100
Machindra Borhade	--	750
Sandip Shinde	--	100
Pankaj Nikan	--	45
Nitin Apsangi	--	1250
Sangamesh Patil	--	750
Renuka Ganapathi	--	750
Shrikant Bakare	--	25

AS ON 30.09.2011

Equity Shares Break Up	Percentage
Bodies corporate	25.12
Directors or relatives of Directors	72.48
Others	2.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of electrical and electronics equipment and trading in various kinds of electronics goods.
Imports :
Products :	Engineering Goods
Countries :	· US · Sweden
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Actual Production
Uninterrupted power supply systems	24
Control Panels	3958
Inverters and battery chargers	70
Aqua gas machines	39

GENERAL INFORMATION

Suppliers :

Siemens Limited

Customers :

OEM’s

· Mahindra and Mahindra

· ACC Cement

· Aditya Birla Group

· Alfa Laval

· Greaves

· GSFC

· GSPL

· Oil and Natural Gas Corporation

· Oriental Rubber

· Pam Pack Machines

· Eagle Flask

· Kinetic Engg.

· Spaco Carburators

· Steag Encotec

· WF Limited

· Theyssenkrupp TIFR

· Thermax

· NHEC

· NTPC

· Godrej Chemical

No. of Employees :

300 (Approximately)

Bankers :

· Corporation Bank, Pimpri Chinchwad Branch, Raka Chambers, Chinchwad, Pune-411019, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Loans and advance from banks
Cash Export Credit Facilities (Secured by hypothecation of stock book debts, plant and machinery and other movable fixed assets)	56.097	49.370
Term Loans (Secured against mortgage of leasehold land and building) (Payable within one year Rs. 1.890 Millions (Rs. 3.974 Millions))	5.388	10.030
Other loans and advances (Secured by hypothecation of specific vehicles) (Payable within one year Rs. 1.246 Millions (Rs. 2.325 Millions))	4.032	5.205
Total	65.517	64.605
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Loans from members and relatives	4.859	3.100
Inter corporate deposits	0.567	0.574
Total	5.426	3.674

Banking Relations :	---
Auditors :
Name :	P G BHAGWAT Chartered Accountant
Address :	Suite No. 101-102, Orchard, Dr. Pai Marg, Baner, Pune-411045, Maharashtra, India
Tel. No.:	91-20-27291772 / 3
Fax No.:	91-20-27290774
E-Mail :	pgbhagwat@vsnl.com
Pan No.:	AAAFB0762E
Subsidiaries :	Cotmac Electronics (Surat) Private Limited CIN No.: - U31909MH1997PTC107161 Cotmac Synergy Automation Private Limited CIN No.: - U31200PN2000PTC014637 Cotmac-Proex Solutions Private Limited CIN No.: - U72200PN2001PTC016204 · Cotmac Mcube Canada Inc · Cotmac Clasitech Singapore Pte Limited · Cotmac Electronics Inc
Fellow Subsidiaries :	Cotmac Telecom Private Limited CIN No.: - U32204PN2000PTC015258 · Cotmac Middle East Fze
Associates and Joint Ventures	· Cotmac Infotech Private Limited · Softech Control Private Limited · Memf Cotmac Auto System Company
Enterprises in which key management personnel are interested :	· Cotmac Private Limited · N A Sirur Hubli Private Limited · Sibella Private Limited · Cotmac Gastech Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
231760	Equity Shares Class A	Rs.100/- each	Rs. 23.176 Millions
170955	Equity Shares Class B	Rs.100/- each	Rs. 17.096 Millions
	TOTAL		Rs. 40.272 Millions

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
409851	Equity Shares	Rs.100/- each	Rs. 40.985 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		40.272	40.272	40.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		89.234	74.765	51.714
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		129.506	115.037	91.714
LOAN FUNDS
1] Secured Loans		65.517	64.605	50.748
2] Unsecured Loans		5.426	3.674	0.806
TOTAL BORROWING		70.943	68.279	51.554
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		200.449	183.316	143.268
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		54.513	59.346	57.351
Capital work-in-progress		0.000	0.085	0.393
INVESTMENT		3.890	2.806	1.509
DEFERREX TAX ASSETS		2.177	2.656	1.271
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	111.221	75.057	102.777
	Sundry Debtors	252.147	237.420	235.855
	Cash & Bank Balances	3.649	4.782	7.758
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	23.401	14.914	15.317
Total Current Assets		390.418	332.173	361.707
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	181.929	157.605	219.592
	Other Current Liabilities	58.145	41.483	50.664
	Provisions	10.475	14.662	8.707
Total Current Liabilities		250.549	213.750	278.963
Net Current Assets		139.869	118.423	82.744
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		200.449	183.316	143.268

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	777.193	915.195	793.293
		Other Income	2.609	5.888	2.228
		TOTAL (A)	779.802	921.083	795.521
Less	EXPENSES
		Materials Consumed	734.636	725.716	611.596
		Payments and benefits to employees		92.525	72.714
		Operating and other expenses		40.860	38.132
		TOTAL (B)	734.636	859.101	722.442
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		45.166	61.982	73.079
Less	FINANCIAL EXPENSES (D)		10.219	12.628	9.315
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		34.947	49.354	63.764
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.131	9.839	8.204
	PROFIT BEFORE TAX (E-F) (G)		26.816	39.515	55.560
Less	TAX (H)		9.991	14.457	20.028
	PROFIT AFTER TAX (G-H) (I)		16.825	25.058	35.532
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		69.110	46.408	NA
Less	APPROPRIATIONS
		Dividend	2.014	2.014	NA
		Tax on Dividend	0.342	0.342	NA
	BALANCE CARRIED TO THE B/S		83.579	69.110	NA
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	4.027	2.087	2.772
		Service Charges	9.670	1.802	9.547
	TOTAL EARNINGS		13.697	3.889	12.319
	IMPORTS
		Raw Materials	1.484	4.320	2.602
		Traded Goods	23.920	21.520	50.559
	TOTAL IMPORTS		25.404	25.840	53.161
	Earnings Per Share (Rs.)		41.78	62.61	89.23

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	1390.000	1300.000

Expected Sales (2012-2013) : Rs. 1500.000 Millions

The above information has been parted by Mr. Manish.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.16	2.72	4.47
Net Profit Margin (PBT/Sales)	(%)	3.45	4.32	7.00
Return on Total Assets (PBT/Total Assets}	(%)	6.00	10.02	13.22
Return on Investment (ROI) (PBT/Networth)		0.21	0.34	0.61
Debt Equity Ratio (Total Liability/Networth)		2.48	2.45	3.60
Current Ratio (Current Asset/Current Liability)		1.56	1.55	1.30

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. Constructions of the firm	Yes
4. Premises details	Yes
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	Yes
17. Major suppliers	Yes
18. Major customers	Yes
19. Payments terms	Yes
20. Export / Import details	Yes
21. Market information	------
22. Litigations that the firm / promoter involved	------
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

FORM 8

Corporate identity number of the company	U31200PN1992PTC016377
Name of the company	COTMAC ELECTRONICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	168, ‘S’ Block, MIDC, Bhosari, Pune-411026, Maharashtra
This form is for	Modification of charge
Charge identification number of the charge to be modified	90084822
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	Corporation Bank, Pimpri Chinchwad Branch, Raka Chambers, Chinchwad, Pune-411019, Maharashtra, India
Nature of instrument creating charge	Eleventh Supplemental Common Deed of Hypothecation dated 28.01.2012
Date of instrument Creating the charge	28.01.2012
Amount secured by the charge	Rs. 296.024 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest CC-Base Rate+2.10%, i.e., 12.75% pa; Channel Financing- Base Rate +285 bps, i.e., 13.50% pa; Import/ Inland LC cum BG and Forward Sales Contract-Commission at prescribed rates Terms of repayment CC - Repayable on Demand subject to annual renewal; Channel Financing - Credit Period 60 days Margin CC - 25% against stock and book debts other than those covered under DBC/BDD and BE under LC/ BE (Clean) Facility; LC cum BG - Cash Margin 15% Extent and operation of the charge First and Exclusive Charge Other As per Sanction Letter dated 12.01.2012
Short particulars of the property charged (Including location of the property)	Stock and Book Debts All other existing securities continue to be under charge of the Bank
Date of instrument modifying the charge	28.01.2012
Particulars of the present modification	CC - Enhanced from Rs. 106.900 Millions to Rs. 125.000 Millions Channel Financing - Unchanged Rs. 18.100 Millions Inland/ Import LC/ BG - Unchanged Rs. 60.000 Millions Forward Sales Contract - Enhanced from Rs. 60.000 Millions to Rs. 90.000 Millions Vehicle Loans - Unchanged Rs. 2.924 Millions

TRADE REFERENCES

· Mahindra and Mahindra

· Siemens Limited

FIXED ASSETS

· Leasehold Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Computers

· Vehicles

· Office Equipments

· Electrical Installations

WEBSITE DETAILS

PROFILE

Subject was incorporated in 1992 and is a part of US $ 70 million 'COTMAC GROUP'. Today they are one of the leading organizations in the field of industrial automation. It offers customers modern control solutions to be at par with rapid development in the data communications with its requirements.

Subject has proved its efficiency by offering innovative solutions in Industrial Automation using PLC's, Drives and CNC's for various application in industries like Automobile, Sugar, Cement, Breweries, Paper, Chemicals, Material handling, Pharmaceutical, Steel, packaging, machine tools, Synthetic fibers and textiles. In addition to this COTMAC is also in the field of reconditioning, refurbishing and retrofitting of used machines with the latest CNC controllers.

At their manufacturing division, they make all types of Control Panels. They are proud inform that they have been awarded with ISO 9001:2000 TUV Certification.

They are associated with SIEMENS since last 20 years, and take pride in being called The Biggest System Integrator for SIEMENS India. They have a high level of experienced, trained and skilled engineers and software programmers with expertise on various automation products and applications. Their team of 200 engineers, include programmers and technicians.

Subject offers a variety of solutions to meet customers needs, their range of services include designing customized solutions, systems engineering, software development, installation and commissioning up to the complete satisfaction of their customers. They cater to all the requirements of their customer for Plant / Equipment / Machine and Process / Automation.

They are associated with various OEM's process equipment suppliers and consultants, and work along with team from the concept stage to design and commissioning of the system.

They are also strengthening our feet in the field of Building Automation and Pneumatic Products. They provide onshore and offshore engineering services to overseas customers in South Asia, Gulf Countries and UK by providing skilled manpower for PC / DCS / SCADA / CNC's / AC-DC drives where they take up complete Engineering / Software Development and commissioning projects. Besides software, they undertake jobs for making electrical drawings in AutoCad or E-plan which are rendered on a man month, man day or man hour basis.

They at Cotmac are empowered to take on any challenge with a committed team of highly qualified personnel skilled in Industrial Automation.

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. 55.49
UK Pound	1	Rs. 85.57
Euro	1	Rs. 69.30

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
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	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		45

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.