MIRA INFORM REPORT

Report Date :

27.09.2012

IDENTIFICATION DETAILS

Name :	BABCOCK INTEGRATED TECHNOLOGY LTD.
Registered Office :	Ashton House, Ashton Vale Road, Bristol, BS3 2HQ, Avon County
Country :	United Kingdom
Financials (as on) :	31.03.2012
Date of Incorporation :	07.10.2008
Com. Reg. No.:	06717269
Legal Form :	Private Subsidiary
Line of Business :	Design, supply, manufacture, installation and management of specialist mechanical handling equipmentprojects and systems engineering, principally within the defence industry.
No. of Employees :	481

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No complaints
Litigation :	Clear

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^th, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
United Kingdom	A1	A1

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

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU)

Source : CIA

Company name and address

Babcock Integrated Technology Ltd.

Ashton House
Ashton Vale Road
Bristol, BS3 2HQ
United Kingdom
Map
Tel:	01179664677
Fax:	01179662605
www.babcock.co.uk

Employees:	481
Company Type:	Private Subsidiary
Corporate Family:	157 Companies
Ultimate Parent:	Babcock International Group PLC
Quoted Status:	Non-quoted Company
Incorporation Date:	07-Oct-2008
Auditor:	PricewaterhouseCoopers LLP

Fiscal Year End:	31-Mar-2012
Reporting Currency:	British Pound Sterling
Annual Sales:	110.0 ^1
Net Income:	8.3
Total Assets:	249.9

Business Description

Design, supply, manufacture, installation and management of specialist mechanical handling equipmentprojects and systems engineering, principally within the defence industry.

Industry

Industry	Personal Services
ANZSIC 2006:	9539 - Other Personal Services Not Elsewhere Classified
NACE 2002:	9305 - Other service activities not elsewhere classified
NAICS 2002:	8129 - Other Personal Services
UK SIC 2003:	9305 - Other service activities not elsewhere classified
UK SIC 2007:	9609 - Other personal service activities n.e.c.
US SIC 1987:	7299 - Miscellaneous Personal Services, Not Elsewhere Classified

Key Executives

Name	Title
Alan Roberts	Business Development Manager
Nicholas James William Borrett	Secretary
John David Taylor Greig	Secretary
Michael Thorne	Head of Accounts
Archibald Anderson Bethel	Director

News

Title	Date
Australia Patent: Babcock Integrated Technology Files Application for 'Payload handling apparatus and system' Australian Government (70 Words)	16-Nov-2011

Financial Summary

FYE: 31-Mar-2012

USD (mil)

Key Figures
Current Assets	167.78
Fixed Assets	82.13
Total Liabilities	178.04
Net Worth	45.44

Key Ratios
Current Ratio	0.94
Acid Test	0.93

Registered No.(UK)

06717269

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6267523

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6281078

Corporate Overview

Location
Ashton House
Ashton Vale Road
Bristol, BS3 2HQ
Avon County
United Kingdom

Tel:	01179664677
Fax:	01179662605

www.babcock.co.uk

Sales GBP(mil):	69.0
Assets GBP(mil):	157.0
Employees:	481
Fiscal Year End:	31-Mar-2012

KeyID^SM:	102740008
Industry:	Personal Services

Registered Address:
33 Wigmore Street
London, W1U 1QX
United Kingdom

Incorporation Date:	07-Oct-2008
Company Type:	Private Subsidiary
Quoted Status:	Not Quoted
Registered No.(UK):	06717269

Director:	Jonathan Hall

Industry Codes

ANZSIC 2006 Codes:
9539	-	Other Personal Services Not Elsewhere Classified

NACE 2002 Codes:
9305	-	Other service activities not elsewhere classified

NAICS 2002 Codes:
8129	-	Other Personal Services

US SIC 1987:
7299	-	Miscellaneous Personal Services, Not Elsewhere Classified

UK SIC 2003:
9305	-	Other service activities not elsewhere classified

UK SIC 2007:
9609	-	Other personal service activities n.e.c.

Top

Business Description

Design, supply, manufacture, installation and management of specialist mechanical handling equipmentprojects and systems engineering, principally within the defence industry.

Source: Experian Ltd.

More Business Descriptions

Engineering Support Services

Source: LexisNexis

Top

Financial Data

Financials in:	GBP(mil)
Revenue:	69.0
Net Income:	5.2
Assets:	157.0
Current Assets:	105.4
Fixed Assets:	51.6
Long Term Debt:	0.0
Total Liabilities:	111.8
Issued Capital:	0.0
Working Capital:	-6.4
Net Worth:	28.5
Date of Financial Data:	31-Mar-2012

1 Year Growth

12.9%

NA

48,250.0%

Top

Key Corporate Relationships

Auditor:	PricewaterhouseCoopers LLP
Auditor:	PricewaterhouseCoopers LLP

	GBP(mil)
Audit Fees:	0.0
Non Audit Fees:	0.0
Audit Fiscal Year:	03-31-2012

Top

Corporate Family	Corporate Structure News:
	Babcock International Group PLC Babcock Integrated Technology Ltd.
Babcock Integrated Technology Ltd. Total Corporate Family Members: 157

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Babcock International Group PLC	Parent	London	United Kingdom	Water Transportation	4,544.7	25,325
Babcock Training Limited	Subsidiary	Spalding	United Kingdom	Schools		6,000
VT Group, U.S.	Subsidiary	Alpharetta, GA	United States	Business Services	500.0	2,500
VT Group	Branch	Virginia Beach, VA	United States	Engineering Consultants	186.5	901
VT Group	Branch	North Charleston, SC	United States	Engineering Consultants	51.8	250
VT Group	Branch	Pensacola, FL	United States	Engineering Consultants	20.7	100
VT Group	Branch	Jacksonville, FL	United States	Engineering Consultants	20.7	100
VT Milcom	Branch	Chesapeake, VA	United States	Engineering Consultants	15.7	76
VT Group	Branch	Madison, AL	United States	Engineering Consultants	8.3	40
VT Group	Branch	Arlington, VA	United States	Engineering Consultants	5.2	25
VT Group	Branch	Waipahu, HI	United States	Engineering Consultants	2.1	10
VT Group	Branch	Portland, OR	United States	Engineering Consultants	2.1	10
VT Group	Branch	Birmingham, AL	United States	Engineering Consultants	1.2	6
Babcock Africa (Pty) Ltd	Division	Johannesburg	South Africa	Construction and Agriculture Machinery		1,000
BNS Nuclear	Division	Whetstone	United Kingdom	Engineering Consultants		900
Babcock International Limited	Subsidiary	Preston	United Kingdom	Engineering Consultants		300
Babcock (NZ) Ltd	Subsidiary	Devonport	New Zealand	Engineering Consultants	25.7	180
Babcock Eagleton Inc.	Subsidiary	Houston, TX	United States	Oil Well Services and Equipment	12.4	150
Babcock Land Limited	Subsidiary	Christchurch	United Kingdom	Real Estate Operations		140
Babcock International Support Services Limited	Subsidiary	Portsmouth	United Kingdom	Business Services		100
Kellve Bulkteknik AB	Subsidiary	Kvänum	Sweden	Miscellaneous Capital Goods	2.5	55
Babcock Defence & Security Services	Division	Derby	United Kingdom	Schools		50
VT Griffin Services, Inc.	Subsidiary	Fort Huachuca, AZ	United States	Business Services		8
Babcock Southern Holdings Ltd.	Subsidiary	London	United Kingdom	Water Transportation	0.0	4
Vosper Thornycroft (UK) Ltd.	Subsidiary	Southampton	United Kingdom	Water Transportation
Vt Flagship Ltd.	Subsidiary	London	United Kingdom	Public Sector and Government	210.5	1,809
Flagship Fire Fighting Training Ltd.	Subsidiary	Torpoint	United Kingdom	Public Sector and Government	14.1
Babcock Corporate Services Ltd.	Subsidiary	London	United Kingdom	Business Services	40.3	144
Babcock Finance Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock International Support Services Ltd.	Subsidiary	London	United Kingdom	Business Services	0.5	81
Babcock Training Ltd.	Subsidiary	London	United Kingdom	Business Services	84.8	1,163
Hctc Ltd.	Subsidiary	London	United Kingdom	Schools		30
Kml (Uk) Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries	1.3
Touchstone Learning & Skills Ltd	Subsidiary	London	United Kingdom	Schools
Babcock Land Ltd.	Subsidiary	London	United Kingdom	Business Services	111.2	932
Whitefleet Ltd.	Subsidiary	London	United Kingdom	Personal Services	65.4	78
Babcock Land (Whitefleet Management) Ltd.	Subsidiary	London	United Kingdom	Business Services	180.2
Babcock Aerospace Ltd.	Subsidiary	London	United Kingdom	Public Sector and Government	97.2	785
Babcock Critical Services Ltd.	Subsidiary	London	United Kingdom	Rental and Leasing	93.8	580
Transfleet Truck Rentals Ltd.	Subsidiary	London	United Kingdom	Rental and Leasing
Airwork Ltd.	Subsidiary	London	United Kingdom	Personal Services	11.5	189
Babcock West Sussex Careers Ltd.	Subsidiary	London	United Kingdom	Schools	6.1	85
Babcock Education And Skills Ltd.	Subsidiary	London	United Kingdom	Public Sector and Government	28.9	81
Babcock Careers Management Ltd.	Subsidiary	Godalming	United Kingdom	Personal Services	8.6	31
Babcock Careers Guidance Ltd.	Subsidiary	London	United Kingdom	Business Services	39.6	419
Babcock Careers Guidance (South) Ltd.	Subsidiary	London	United Kingdom	Personal Services	5.6	82
Babcock Careers Guidance (North) Ltd.	Subsidiary	London	United Kingdom	Business Services	0.2
Guidance Services Ltd.	Subsidiary	London	United Kingdom	Business Services	7.3	110
Capital Careers Ltd.	Subsidiary	London	United Kingdom	Business Services	2.2	29
Babcock Lifeskills Ltd.	Subsidiary	London	United Kingdom	Schools	1.0	17
Surrey Careers Services Ltd.	Subsidiary	London	United Kingdom	Personal Services	0.7	8
Vt Career Progressions Ltd.	Subsidiary	London	United Kingdom	Software and Programming
Babcock Southern Careers Ltd.	Subsidiary	London	United Kingdom	Schools	3.6	15
Babcock Project Services Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries		4
Westminster Education Consultants Ltd.	Subsidiary	London	United Kingdom	Schools
Merlin Communications Group Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Communications Ltd.	Subsidiary	London	United Kingdom	Communications Services	179.5	692
Vosper-Mantech Ltd.	Subsidiary	London	United Kingdom	Commercial Banks
Babcock Fire Services Ltd.	Subsidiary	London	United Kingdom	Business Services	6.2
Babcock Fire Services (Sw) Ltd.	Subsidiary	London	United Kingdom	Business Services	2.7
Babcock Leaseco Ltd.	Subsidiary	London	United Kingdom	Business Services	0.4
Babcock Marine Products Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Fabricated Products
Babcock Porchester Ltd.	Subsidiary	London	United Kingdom	Water Transportation
Babcock Trustees Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Hsde Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Engine Controls Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Partner No 7 Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries
Babcock Partner No 6 Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries
Babcock Investments (Fire Services) Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Group International Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Brisco Ltd.	Subsidiary	London	United Kingdom	Auto and Truck Parts
Babcock Project Investments Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Fire Training (Avonmouth) Ltd.	Subsidiary	London	United Kingdom	Public Sector and Government	4.7
Babcock Emergency Services Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries
Babcock (Wakefield) Holdco Ltd.	Subsidiary	London	United Kingdom	Commercial Banks
Babcock (Wakefield) Ltd.	Subsidiary	London	United Kingdom	Waste Management Services
Babcock Environmental Services Ltd.	Subsidiary	London	United Kingdom	Waste Management Services
Babcock Nuclear Ltd.	Subsidiary	London	United Kingdom	Personal Services	83.6	439
Deva Manufacturing Services Ltd.	Subsidiary	Chester	United Kingdom	Containers and Packaging	5.4	45
Bil Solutions Ltd.	Subsidiary	London	United Kingdom	Scientific and Technical Instruments
Babcock Environmental Engineering Ltd.	Subsidiary	London	United Kingdom	Waste Management Services	0.6	23
Estech Europe Ltd.	Subsidiary	London	United Kingdom	Waste Management Services		4
Tass Environmental Technology Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Africa Services (Pty) Limited	Subsidiary	Benoni, Gauteng	South Africa	Engineering Consultants
Babcock Investments (Number Three) Ltd.	Subsidiary	London	United Kingdom	Commercial Banks
Babcock Technical Services Ltd.	Subsidiary	London	United Kingdom	Personal Services
Babcock Marine Ltd.	Division	London	United Kingdom	Business Services
Babcock Engineering Services Ltd.	Subsidiary	Dunfermline	United Kingdom	Water Transportation		2,000
Babcock International Holdings BV	Subsidiary	Hague	Netherlands	Investment Services
Babcock Design & Technology Ltd.	Subsidiary	Weymouth	United Kingdom	Nonclassifiable Industries
Babcock (UK) Holdings Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Holdings Ltd.	Subsidiary	London	United Kingdom	Business Services		54
First Engineering Holdings Ltd.	Subsidiary	Glasgow	United Kingdom	Business Services		250
First Projects Ltd.	Subsidiary	London	United Kingdom	Construction Services
Peterhouse Group Ltd.	Subsidiary	London	United Kingdom	Commercial Banks
Babcock Overseas Investments Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Us Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Financial Services
Babcock Investments Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Management Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Brazil Investments Ltd.	Subsidiary	London	United Kingdom	Commercial Banks
Babcock Support Services (Investments) Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock2 Ltd.	Subsidiary	Dunfermline	United Kingdom	Business Services		1,500
Babcock Support Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Fabricated Products	470.8	2,741
Babcock Dyncorp Ltd.	Subsidiary	Ipswich	United Kingdom	Commercial Banks	158.1	391
Air Power International Ltd.	Subsidiary	Larbert	United Kingdom	Miscellaneous Capital Goods	3.7	19
Holdfast Training Services Ltd.	Subsidiary	London	United Kingdom	Public Sector and Government	187.5	14
Babcock Partners No 2010 Ltd.	Subsidiary	London	United Kingdom	Business Services	5.8	4
Active Management Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Money Purchase Trustees Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries
Babcock Hsps Trustees Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries
Armstrong Technology Associates Ltd.	Subsidiary	London	United Kingdom	Water Transportation		30
Babcock Services Group Ltd.	Subsidiary	London	United Kingdom	Business Services
Bns Nuclear Services Ltd.	Subsidiary	London	United Kingdom	Business Services	148.8	886
Babcock Airports Ltd.	Subsidiary	London	United Kingdom	Business Services	88.8	857
Babcock Power Maintenance Ltd.	Subsidiary	London	United Kingdom	Business Services	1.3	7
Alstec Power Systems Ltd	UK Branch/Trading address	London	United Kingdom	Business Services	1.3	3
Alstec Defence Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries
Alstec Automation Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries
Babcock Networks Ltd.	Subsidiary	London	United Kingdom	Construction Services	166.5	863
Babcock Group Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Industries
UKaea Ltd.	Subsidiary	Chilton	United Kingdom	Business Services	49.5	195
Dounreay Site Restoration Ltd.	Subsidiary	Thurso	United Kingdom	Construction Services	227.4	896
Research Sites Restoration Ltd.	Subsidiary	Didcot	United Kingdom	Waste Management Services	111.0	400
Scimco Ltd.	Subsidiary	London	United Kingdom	Commercial Banks
Babcock Rail Ltd.	Subsidiary	Blantyre	United Kingdom	Personal Services	268.9	1,280
Babcock 2010 Ltd.	Subsidiary	London	United Kingdom	Business Services
Gibraltar Investments (No. 7) Ltd.	Subsidiary	London	United Kingdom	Commercial Banks
Babcock International Guarantee Co.	Subsidiary	London	United Kingdom	Commercial Banks
Babcock Technology Holdings (UK) Ltd.	Subsidiary	London	United Kingdom	Business Services
Babcock Integrated Technology Ltd.	Subsidiary	Bristol	United Kingdom	Personal Services	110.0	481
Appledore Shipbuilders (2004) Ltd.	Subsidiary	Plymouth	United Kingdom	Water Transportation	25.4	278
Strachan & Henshaw Ltd.	Subsidiary	Bridgwater	United Kingdom	Personal Services
Strachan & Henshaw Ltd.	UK Branch/Trading address	Bristol	United Kingdom	Personal Services
Strachan & Henshaw Ltd	UK Branch/Trading address	Bristol	United Kingdom	Personal Services
Lsc Group Holdings Ltd.	Subsidiary	Lichfield	United Kingdom	Business Services
Lsc Group Ltd.	Subsidiary	Lichfield	United Kingdom	Computer Services	27.5	162
Locam Ltd.	Subsidiary		United Kingdom	Personal Services
Locam Ltd	UK Branch/Trading address	Norwich	United Kingdom	Personal Services		4
Frazer-Nash Consultancy Group Ltd.	Subsidiary	Plymouth	United Kingdom	Biotechnology and Drugs
Frazer-Nash Consultancy Ltd.	Subsidiary	Dorking	United Kingdom	Engineering Consultants	68.2	414
Fnc Group Ltd.	Subsidiary	Plymouth	United Kingdom	Engineering Consultants
F N Consultancy Ltd.	Subsidiary	Plymouth	United Kingdom	Engineering Consultants
Fnc Ltd.	Subsidiary	Plymouth	United Kingdom	Biotechnology and Drugs
Babcock Investments (Number Four) Ltd.	Subsidiary	London	United Kingdom	Business Services
Gibraltar Investments (No. 2) Ltd.	Subsidiary	London	United Kingdom	Commercial Banks
Babcock Marine (Devonport) Ltd.	Subsidiary	Plymouth	United Kingdom	Business Services		4,800
Devonport Royal Dockyard Ltd.	Subsidiary	Plymouth	United Kingdom	Water Transportation	820.9	4,104
Devonport Royal Dockyard Pension Trustees Ltd.	Subsidiary	Plymouth	United Kingdom	Business Services
Defence Integrated Supply Chain Solutions Ltd.	Subsidiary	Plymouth	United Kingdom	Miscellaneous Transportation
Babcock Marine (Rosyth) Ltd.	Subsidiary	Dunfermline	United Kingdom	Water Transportation	395.5	1,539
Rosyth Royal Dockyard Ltd.	Subsidiary	Dunfermline	United Kingdom	Water Transportation	99.0	1,249
Port Babcock Rosyth Ltd.	Subsidiary	Dunfermline	United Kingdom	Nonclassifiable Industries
Babcock Marine (Clyde) Ltd.	Subsidiary	Helensburgh	United Kingdom	Public Sector and Government	167.6	1,430
Bns Pensions Ltd.	Subsidiary	Dunfermline	United Kingdom	Nonclassifiable Industries
Bns Pension Trustees Ltd.	Subsidiary	Dunfermline	United Kingdom	Nonclassifiable Industries
Babcock Ntuthuko Engineering (Pty) Limited	Subsidiary	Nigel, Gauteng	South Africa	Engineering Consultants
Babcock UK Finance	Subsidiary	London	United Kingdom	Business Services

Babcock Integrated Technology Ltd. Bristol, , United Kingdom, Tel: 01179664677, URL: http://www.babcock.co.uk

Executives Report

Board of Directors

Name	Title	Function
Archibald Anderson Bethel	Director	Director/Board Member
Age: 59
Jonathan Hall	Director	Director/Board Member	.
Age: 50
Mark William Hardy	Director	Director/Board Member
Age: 55
Franco Martinelli	Director	Director/Board Member
Age: 51
Iain Stuart Urquhart	Director	Director/Board Member
Age: 47

Executives

Name	Title	Function
Nicholas James William Borrett	Secretary	Company Secretary
John David Taylor Greig	Secretary	Company Secretary
Michael Thorne	Head of Accounts	Accounting Executive
Alan Roberts	Business Development Manager	Business Development Executive

Directors and Shareholders Report

Main Office Address: Ashton House Ashton Vale Road Bristol United Kingdom BS3 2HQ

Tel: 01179664677 Fax: 01179662605 URL: http://www.babcock.co.uk

Annual Return Date: 07 Oct 2011 Total Issued Capital (GBP 000): 40

Individual Directors
Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Mark William Hardy	Current	05 May 1957	Rosyth Business Park, Rosyth, Inverkeithing, Fife KY11 2YD	07 Oct 2008	NA	Current:5 Previous:26 Disqualifications:0
Archibald Anderson Bethel	Current	09 Feb 1953	50 Avondale Avenue, Glasgow, South Lanarkshire G74 1NS	01 Jan 2011	NA	Current:27 Previous:15 Disqualifications:0
Iain Stuart Urquhart	Current	21 Jul 1965	C/O Devonport Royal Dockyard, Limited Devonport, Plymouth, Devon PL1 4SG	01 Jan 2011	NA	Current:29 Previous:6 Disqualifications:0
Jonathan Hall	Current	29 Jul 1962	11 Manor Farm Drive, Chippenham, Wiltshire SN15 4RW	12 Nov 2008	NA	Current:5 Previous:7 Disqualifications:0
Franco Martinelli	Current	16 Oct 1960	C/O Babcock International Group Plc 33 Wigmore Str, London , London W1U 1QX	12 Oct 2008	NA	Current:174 Previous:7 Disqualifications:0

Corporate Directors

There are no corporate directors for this company.

Individual Secretaries
Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
John David Taylor Greig	Current	NA	33 Wigmore Street, London , London W1U 1QX	17 May 2012	NA	Current:1 Previous:0 Disqualifications:0
Nicholas James William Borrett	Current	NA	33 Wigmore Street, London , London W1U 1QX	27 Jul 2012	NA	Current:1 Previous:0 Disqualifications:0
Stanley Alan Royall Billiald	Previous	25 Jun 1944	Hyde Cottage, Hyde Lane Churt, Farnham, Surrey GU10 2LP	12 Nov 2008	01 Jul 2009	Current:1 Previous:142 Disqualifications:0
Valerie Francine Anne Teller	Previous	NA	17 Badger Court Pinemartin Close, London , London NW2 6YY	01 Jul 2009	27 Jul 2012	Current:1 Previous:96 Disqualifications:0

Corporate Secretaries

There are no corporate secretaries for this company.

Individual Shareholders

There are no individual shareholders for this company.

Corporate Shareholders
Company Name	Registration Number	Share Details (As Reported)	Share Type	# of Shares	Share Price (GBP)		Share Value (GBP)	% of Total Shares
Babcock Marine Holdings (UK) Limited	05265569	40000 Ordinary GBP 1.00	Ordinary	40,000	1.00		40,000.00	100.00
Babcock Integrated Technology Ltd. Bristol, United Kingdom, Tel: 01179664677, URL: http://www.babcock.co.uk						Annual Profit & Loss

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009
Period Length	52 Weeks	52 Weeks	52 Weeks	25 Weeks
Filed Currency	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.626752	0.643394	0.627794	0.592803
Consolidated	No	No	No	No
Turnover (UK)	-	60.1	66.8	0.0
Turnover (Exports)	-	34.9	33.3	0.0
Total Turnover	110.0	94.9	100.1	0.0
Cost of Sales	89.1	82.2	82.0	-
Total Expenses	-	-	-	0.0
Gross Profit	21.0	12.7	18.1	-
Depreciation	0.7	0.6	1.5	-
Other Expenses	10.3	3.9	10.4	-
Operating Profit	10.7	8.8	7.7	0.0
Other Income	0.0	0.0	0.0	0.0
Interest Paid	2.4	1.7	1.6	0.0
Exceptional Income	0.0	0.0	0.0	0.0
Discontinued Operations	0.0	0.0	-	-
Profit Before Taxes	8.2	7.1	6.1	0.0
Tax Payable / Credit	0.0	1.1	0.2	0.0
Extraordinary Items/Debits	0.0	0.0	0.0	0.0
Dividends	0.0	0.0	0.0	0.0
Profit After Taxes	8.3	6.0	5.9	0.0
Minority Interests (Profit & Loss)	0.0	0.0	0.0	0.0
Audit Fees	0.0	0.0	0.1	0.0
Non Audit Fees	0.0	0.0	0.0	0.0
Number of Employees	481	453	451	0
Wages	28.9	24.7	25.0	0.0
Social Security Costs	3.0	2.5	2.6	0.0
Pensions	0.1	0.1	0.1	0.0
Other Pension Costs	2.2	2.0	2.0	0.0
Employees Remuneration	34.1	29.1	29.6	0.0
Directors Emoluments	0.7	0.4	0.9	0.0
Other Costs	0.0	0.0	0.0	0.0
Directors Remuneration	0.7	0.5	0.9	0.0
Highest Paid Director	0.4	0.2	0.5	0.0

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009
Filed Currency	GBP	GBP	GBP	GBP
Exchange Rate	0.628108	0.62385	0.659239	0.697666
Consolidated	No	No	No	No
Land & Buildings	5.7	4.6	4.4	0.0
Fixtures & Fittings	1.2	1.2	3.0	0.0
Plant & Vehicles	1.6	1.6	1.2	0.0
Total Tangible Fixed Assets	8.5	7.4	8.6	0.0
Intangible Assets	24.3	25.9	25.8	0.0
Investments	49.4	0.0	0.0	0.0
Total Fixed Assets	82.1	33.2	34.4	0.0
Stocks	0.1	0.0	0.0	0.0
Work in Progress	1.5	2.1	2.9	0.0
Total Stocks Work In Progress	1.6	2.1	3.0	0.0
Trade Debtors	6.5	8.3	6.4	0.0
Inter-Company Debtors	117.1	151.0	74.5	0.0
Director Loans	-	-	-	0.0
Other Debtors	11.7	7.0	7.2	0.0
Total Debtors	135.3	166.3	88.1	0.0
Cash and Equivalents	30.9	14.6	9.7	0.0
Other Current Assets	0.0	0.0	0.0	0.0
Total Current Assets	167.8	183.0	100.8	0.0
Total Assets	249.9	216.2	135.3	0.0
Trade Creditors	10.2	5.2	6.6	0.0
Bank Overdraft	-	-	-	0.0
Inter-Company Creditors	136.9	111.2	95.0	0.0
Director Loans (Current Liability)	-	-	-	0.0
Hire Purchase (Current Liability)	-	-	-	0.0
Finance Lease (Current Liability)	-	-	-	0.0
Total Finance Lease/Hire Purchase (Current Liability)	-	-	-	0.0
Total Short Term Loans	-	-	-	0.0
Accruals/Deferred Income (Current Liability)	3.5	3.4	4.0	0.0
Social Security/VAT	0.4	1.5	0.7	0.0
Corporation Tax	-	-	-	0.0
Dividends (Current Liability)	-	-	-	0.0
Other Current Liabilities	27.1	29.8	19.5	0.0
Total Current Liabilities	178.0	151.1	125.8	0.0
Group Loans (Long Term Liability)	0.0	0.0	0.0	0.0
Director Loans (Long Term Liability)	0.0	0.0	0.0	0.0
Hire Purchase (Long Term Liability)	0.0	0.0	0.0	0.0
Leasing (Long Term Liability)	0.0	0.0	0.0	0.0
Total Hire Purchase Loans (Long Term Liability)	0.0	0.0	0.0	0.0
Other Long Term Loans	0.0	0.0	0.0	0.0
Accruals/Deferred Income (Long Term Liability)	0.0	0.0	0.0	0.0
Other Long Term Liabilities	0.0	0.0	0.0	0.0
Total Long Term Liabilities	0.0	0.0	0.0	0.0
Deferred Taxation	0.0	0.0	0.0	0.0
Other Provisions	2.2	3.2	3.8	0.0
Total Provisions	2.2	3.2	3.8	0.0
Issued Capital	0.1	0.1	0.0	0.0
Share Premium Accounts	49.4	0.0	0.0	0.0
Revaluation Reserve	0.0	0.0	0.0	0.0
Retained Earnings	20.3	12.1	5.6	0.0
Other Reserves	0.0	49.7	0.0	0.0
Minority Interests (Balance Sheet)	0.0	0.0	0.0	0.0
Total Shareholders Funds	69.7	61.9	5.6	0.0
Net Worth	45.4	36.0	-20.2	0.0

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009
Period Length	52 Weeks	52 Weeks	52 Weeks	25 Weeks
Filed Currency	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.626752	0.643394	0.627794	0.592803
Consolidated	No	No	No	No

Annual Ratios

Financials in: USD (mil)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009
Period Length	52 Weeks	52 Weeks	52 Weeks	25 Weeks
Filed Currency	GBP	GBP	GBP	GBP
Exchange Rate	0.628108	0.62385	0.659239	0.697666
Consolidated	No	No	No	No
Current Ratio	0.94	1.21	0.80	-
Liquidity Ratio	0.93	1.20	0.78	-
Stock Turnover	69.74	47.03	31.94	-
Credit Period (Days)	21.55	31.10	24.42	-
Working Capital by Sales	-9.35%	32.51%	-26.23%	-
Trade Credit by Debtors	1.58	0.63	1.03	-
Return on Capital	11.43%	11.27%	61.80%	-
Return on Assets	3.29%	3.39%	4.30%	-
Profit Margin	7.48%	7.48%	6.10%	-
Return on Shareholders Funds	11.79%	11.84%	103.20%	-
Borrowing Ratio	301.23%	308.74%	-470.84%	-
Equity Gearing	27.89%	28.62%	4.17%	100.00%
Interest Coverage	3.40	4.07	3.91	-
Sales by Tangible Assets	12.88	13.30	11.08	-
Average Remuneration per Employee	0.1	0.1	0.1	-
Profit per Employee	0.0	0.0	0.0	-
Sales per Employee	0.2	0.2	0.2	-
Capital Employed per Employee	0.1	0.1	0.0	-
Tangible Assets per Employee	0.0	0.0	0.0	-
Total Assets per Employee	0.5	0.5	0.3	-
Employee Remuneration by Sales	31.02%	30.67%	29.55%	-
Creditor Days (Cost of Sales Based)	41.98	22.57	30.63	-
Creditor Days (Sales Based)	33.98	19.54	25.10	-

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.57
UK Pound	1	Rs.86.60
Euro	1	Rs.68.93

INFORMATION DETAILS

Report Prepared by :

PDT

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	--

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%)

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.