MIRA INFORM REPORT

Report Date :

30.05.2012

IDENTIFICATION DETAILS

Name :	TECHTRONICS (INDIA) LIMITED
Registered Office :	73, LGF, World Trade Centre, Barakhamba Road, New Delhi – 110001
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.02.1997
Com. Reg. No.:	55-085199
Capital Investment / Paid-up Capital :	Rs.2.454 Millions
CIN No.: [Company Identification No.]	U29130DL1997PLC085199
TAN No.: [Tax Deduction & Collection Account No.]	DELT02830C
PAN No.: [Permanent Account No.]	AAACT4411D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Importer and Supplier of Machine Tools, Machines, Equipments and Accessories.
No. of Employees :	42 (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

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

LOCATIONS

Registered Office :	73, LGF, World Trade Centre, Barakhamba Road, New Delhi – 110001, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	cavinod9@gmail.com
Website :	www.techtronics.in
Administrative Office/Technical Center :	138 A, Udyog Vihar, Phase – VI, Gurgaon – 122 001, Haryana, India
Tel. No.:	91-124-2370555/ 2212000/ 2001
Fax No.:	91-124-2370666
E-Mail :	techtron@vsnl.com info@techtronics.in

DIRECTORS

As on 30.09.2011

Name :

Mr. Sudhanshu Sharma

Designation :

Managing Director

Address :

H-6, South City-1, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

16.06.1968

Date of Appointment :

17.02.1997

DIN No.:

00834723

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	U29130DL1997PLC085199	TECHTRONICS(INDIA) LIMITED	Director	17/02/1997	17/02/1997	-	Active	NO
2	U29230DL2004PTC126495	KOSHINOVA ENGINEERING PRIVATE LIMITED	Additional director	1/9/2004	1/9/2004	-	Dormant	NO
3	U80900DL2011PLC213353	TECHTRONICS EDUCATION (INDIA) LIMITED	Director	3/2/2011	3/2/2011	-	Active	NO
4	U80302DL2011PLC213843	EDUTRONICS INNOVATIVE EDUCATION LIMITED	Director	11/2/2011	11/2/2011	-	Active	NO

Name :

Mr. Ganapati Sharma

Designation :

Director

Address :

H-6, South City-1, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

15.01.1940

Date of Appointment :

17.02.1947

DIN No.:

01901753

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	U29130DL1997PLC085199	TECHTRONICS(INDIA) LIMITED	Director	17/02/1997	17/02/1997	-	Active	NO
2	U29230DL2004PTC126495	KOSHINOVA ENGINEERING PRIVATE LIMITED	Director	30/05/2004	30/05/2004	-	Dormant	NO
3	U80900DL2011PLC213353	TECHTRONICS EDUCATION (INDIA) LIMITED	Director	3/2/2011	3/2/2011	-	Active	NO
4	U80302DL2011PLC213843	EDUTRONICS INNOVATIVE EDUCATION LIMITED	Director	11/2/2011	11/2/2011	-	Active	NO

Name :

Ms. Shabnam Sharma

Designation :

Additional Director

Address :

H-6, South City-1, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

10.05.1974

Date of Appointment :

08.12.2004

DIN No.:

02005761

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	U29230DL2004PTC126495	KOSHINOVA ENGINEERING PRIVATE LIMITED	Director	30/05/2004	30/05/2004	-	Dormant	NO
2	U29130DL1997PLC085199	TECHTRONICS(INDIA) LIMITED	Director	8/12/2004	8/12/2004	-	Active	NO
3	U80900DL2011PLC213353	TECHTRONICS EDUCATION (INDIA) LIMITED	Director	3/2/2011	3/2/2011	-	Active	NO
4	U80302DL2011PLC213843	EDUTRONICS INNOVATIVE EDUCATION LIMITED	Director	11/2/2011	11/2/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Apurva Gopal Kalia	100
Sudhanshu Ganpati Sharma	244700
Kirti A. Kalia	100
Karuna Ganpati Sharma	100
Ganapati Ram Chand Sharma	100
Ambica Anil Sanger	100
Sandeep S M Agarwal	200
Total	245400

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Importer and Supplier of Machine Tools, Machines, Equipments and Accessories.
Products :	Lathes and Turning Centres Machining Centres Boring Machines Milling Machines Forging Presses Hydraulic Presses Friction Welding Machines Hydraulic Cylinder Automation Gun Drilling / Deep Hole Drilling Machines

GENERAL INFORMATION

No. of Employees :

42 (Approximately)

Bankers :

• Canara Bank , 74 Janpath, New Delhi – 110 001, India
• ANZ Grindlays Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Reliance Consumer Finance Against Hypothecation of Vehicles
Honda CRV	0.593	0.938
Toyota In Nova	0.754	0.000
Maruti Swift (I)	0.163	0.257
Maruti Swift (Ii)	0.179	0.271
Maruti Ritz	0.331	0.397
Canara Bank Against Hypothecation Of Vehicle
Skoda Laura	0.000	0.734
Standard Chartered Bank	23.285	12.493
Total	25.305	15.090
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Others	1.000	0.754
From Directors	2.200	1.227
Total	3.200	1.981

Banking Relations :	--
Auditors :
Name :	Awatar and Company Chartered Accountants
Address :	1203, Rohit House, 3, Tolstay Marg, New Delhi – 110 001, India
PAN.:	AADPA1042P

CAPITAL STRUCTURE

As on 31.03.2011

Authorised 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
245400	Equity Shares	Rs.10/- each	Rs.2.454 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		2.454	2.454	2.454
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		5.604	2.213	0.023
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8.058	4.667	2.477
LOAN FUNDS
1] Secured Loans		25.305	15.090	14.233
2] Unsecured Loans		3.200	1.981	1.565
TOTAL BORROWING		28.505	17.071	15.798
DEFERRED TAX LIABILITIES		0.000	0.000	0.173
TOTAL		36.563	21.738	18.448
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.416	9.692	10.676
Capital work-in-progress		7.336	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.163	2.288	12.810
	Sundry Debtors	36.432	8.370	10.558
	Cash & Bank Balances	17.111	9.667	0.837
	Other Current Assets	0.029	0.029	0.029
	Loans & Advances	14.686	16.414	17.180
Total Current Assets		75.421	36.768	41.414
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	25.834	12.313	18.994
	Other Current Liabilities	31.610	11.872	12.833
	Provisions	1.166	0.540	1.815
Total Current Liabilities		58.610	24.725	33.642
Net Current Assets		16.811	12.046	7.772
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		36.563	21.738	18.448

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	218.250	89.176	88.691
		Other Income	35.775	30.233	27.495
		TOTAL	254.025	119.409	116.186
Less	EXPENSES
		Cost of Good Sold	191.658	76.683	77.714
		Administrative and other Expenses	53.231	36.847	40.565
		Commissions on Paid	2.660	0.169	0.104
		Amount written off	0.086	1.400	0.064
		Bad debts	0.000	0.038	0.000
		Loss on Sale of Assets	0.014	0.000	0.140
		TOTAL	247.649	115.137	118.587
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		6.376	4.272	(2.401)
Less/ Add	DEPRECIATION/ AMORTISATION		1.996	1.886	2.359
	PROFIT BEFORE TAX		4.380	2.386	(4.760)
Less	TAX		0.991	7.787	0.710
	PROFIT AFTER TAX		3.389	1.599	(5.470)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.622	0.023	5.493
	BALANCE CARRIED TO THE B/S		5.011	1.622	0.023
	Earnings Per Share (Rs.)		13.81	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.33	1.33	(4.71)
Net Profit Margin (PBT/Sales)	(%)	2.01	2.68	(5.37)
Return on Total Assets (PBT/Total Assets}	(%)	4.99	5.14	(9.14)
Return on Investment (ROI) (PBT/Networth)		0.54	0.51	(1.92)
Debt Equity Ratio (Total Liability/Networth)		10.81	8.96	19.96
Current Ratio (Current Asset/Current Liability)		1.29	1.49	1.23

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	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	No
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	--
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

Note:

The registered office of the company has been shifted from J – 5, Saket, New Delhi 110017, India to present address w.e.f. 26.03.2012.

Bankers Charges Report as per Registry

Corporate identity number of the company	U29130DL1997PLC085199
Name of the company	TECHTRONICS INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	73, LGF, World Trade Centre, Barakhamba Road, New Delhi – 110001 Cavinod9@gmail.com
This form is for	Creation of Charge
Type of charge	Immovable property
Particular of charge holder	Canara Bank , 74 Janpath, New Delhi – 110 001, India ca_rcg@yahoo.co.in
Nature of instrument creating charge	Letter evidencing deposit of Title Deeds alongwith Schedule A and B dated 13.02.201
Date of instrument Creating the charge	13.02.2012
Amount secured by the charge	Rs.43.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As applicable to various credit facilities aggregating to Rs.43.000 Millions granted to/enjoyed by the Company. Terms of Repayment As applicable to various credit facilities aggregating to Rs.43.000 Millions granted to/enjoyed by the Company. Margin As applicable to various credit facilities aggregating to Rs.43.000 Millions granted to/enjoyed by the Company. Extent and Operation of the charge 100% Others To collaterally secure all amounts payable under various credit facilities aggregating to Rs.43.000 Millions granted to/enjoyed by the Company together with all interests, costs, charges, expenses, commission etc.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitable mortgage of immovable properties of the Company situated at Plot No. 138A, Udyog Vihar, Phase VI, Gurgaon (Haryana) admeasuring 462 sq. meters together with all buildings, structures, fittings, fixtures, machineries standing/installed therein and to be erected/installed and put up in future.

Fixed Assets

• Land Building
• Office Equipments
• Computers
• Air Conditioners
• Vehicles
• Furniture and Fixture
• Generator
• Plant & Machinery
• Service Tool
• Electric Installation

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.55.58
UK Pound	1	Rs.87.14
Euro	1	Rs.69.73

INFORMATION DETAILS

Report Prepared by :

NTH

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	NO
--AFFILIATION	YES/NO	NO
--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.