MIRA INFORM REPORT

Report Date :

02.04.2013

IDENTIFICATION DETAILS

Name :	ELIN ELECTRONICS LIMITED
Registered Office :	143 Cotton Street, Kolkata- 700007, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	26.03.1982
Com. Reg. No.:	21-034725
Capital Investment / Paid-up Capital :	Rs.62.877 Millions
CIN No.: [Company Identification No.]	U29304WB1982PLC034725
TAN No.: [Tax Deduction & Collection Account No.]	CALE00746E/ CALE00685G
PAN No.:	AAACE6449G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Electronic Products and Components
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 2228364
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	BBB (Long term bank facilities)
Rating Explanation	Have moderate degree of safety regarding timely servicing of financial obligation it carry moderate credit risk
Date	15.12.2011

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	143, Cotton Street, Kolkata – 700 007, West Bengal, India
Tel No.:	Not Available
Fax No:	Not Available
E-Mail :	rkc@elinindia.com
Website :	http://www.elinindia.com
Factory 1 :	C-143, C-144, C-144/2, Site No.-1, BSR Road, Ghaziabad – 201 009, Uttar Pradesh, India
Tel. No.:	91-120-2701519-24
Fax No.:	91-120-2702087
E-Mail :	elin-gzb@elinindia.com
Area :	Land:45200 Covered : 26600
Factory 2 :	L-84, Verna Industrial Estate, Verna, Salcatte, Goa – 403 722, India
Tel. No.:	91-832-2783730/ 731/ 736/ 376
Fax No.:	91-832-2783001
E-Mail :	elinelel@sancharnet.in
Factory 3 :	Village Bhelikhol, Tehsil, Nalagarh, District: Solan, Himachal Pradesh, India
Tel. No.:	91-1795-236898
Fax No.:	91-1795-236988
E-Mail :	elin_baddi@sancharnet.in
Branch Office :	Elin House, 4771, Bharatram Road, 23, Daryaganj New Delhi – 110 002, India
Tel. No.:	91-11-43000400
Fax No.:	91-11-23289340
E-Mail :	elintdm@ndf.vsnl.net.in headoffice@elinindia.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Kamal Sethia

Designation :

Whole Time Director

Address :

4771, Bharat Ram Road, 23, Darya Ganj, New Delhi – 110 002, India

Date of Birth/Age :

28.10.1957

Date of Appointment :

06.08.2007

DIN No.:

00081116

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	U32109WB1988PTC095530	ASIAN MAGNETIC DEVICES PRIVATE LIMITED	Director	25/05/1988	25/05/1988	30/09/2007	Active	NO
2	U01122WB1950PTC018549	KANCHAN COMMERCIAL CO PVT LTD	Director	19/12/1988	19/12/1988	-	Active	NO
3	U65923WB1987PTC042096	GAURAV RESOURCES COMPANY PVT LTD	Director	28/08/1995	28/08/1995	-	Active	NO
4	U29304WB1982PLC034725	ELIN ELECTRONICS LTD.	Whole-time director	01/07/2011	06/08/2007	-	Active	NO

Name :

Mr. Mangi Lall Sethia

Designation :

Chairman cum Managing Director

Address :

4771, Bharat Ram Road, 23, Darya Ganj, New Delhi – 110 002, India

Date of Birth/Age :

07.12.1937

Date of Appointment :

26.03.1982

DIN No.:

00081367

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	U01122WB1950PTC018549	KANCHAN COMMERCIAL CO PVT LTD	Director	28/11/1961	28/11/1961	-	Active	NO
2	U29304WB1982PLC034725	ELIN ELECTRONICS LTD.	Managing director	01/07/2011	26/03/1982	-	Active	NO
3	U65923WB1987PTC042096	GAURAV RESOURCES COMPANY PVT LTD	Director	24/03/1987	24/03/1987	-	Active	NO
4	U29219HP1983PTC005404	MAGTRONIC DEVICES PVT LTD	Director	29/12/1988	29/12/1988	-	Active	NO
5	U74899DL1984PTC019023	PUNCH PARKASHAN PVT.LTD.	Director	02/04/1989	02/04/1989	03/08/2010	Active	NO

Name :

Mr. Kishor Sethia

Designation :

Whole Time Director

Address :

4771, Bharat Ram Road, 23, Darya Ganj, New Delhi – 110 002, India

Date of Birth/Age :

14.06.1959

Date of Appointment :

06.08.2007

DIN No.:

00081488

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	U01122WB1950PTC018549	KANCHAN COMMERCIAL COMPANY PRIVATE LIMITED	Director	1/30/1988	1/30/1988	-	Active	NO
2	U65923WB1987PTC042096	GAURAV RESOURCES COMPANY PRIVATE LIMITED	Director	8/28/1995	8/28/1995	-	Active	NO
3	U31300HP2002PTC025355	ELIN APPLIANCES PRIVATE LIMITED	Director	9/27/2004	9/27/2004	12/21/2009	Active	NO
4	U34100DL2007PLC164171	LIFELONG ELIN AUTO COMPONENTS LIMITED	Director	5/30/2007	5/30/2007	-	Active	NO
5	U29304WB1982PLC034725	ELIN ELECTRONICS LIMITED	Whole-time director	7/1/2011	8/6/2007	-	Active	NO

Name :

Mr. Vinay Kumar Sethia

Designation :

Whole Time Director

Address :

E-21, Sector – 30, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

21.05.1951

Date of Appointment :

26.03.1982

DIN No.:

00082184

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	U01122WB1950PTC018549	KANCHAN COMMERCIAL CO PVT LTD	Director	30/01/1988	30/01/1988	-	Active	NO
2	U65923WB1987PTC042096	GAURAV RESOURCES COMPANY PVT LTD	Director	28/08/1995	28/08/1995	-	Active	NO
3	U31300HP2002PTC025355	ELIN APPLIANCES PRIVATE LIMITED	Director	27/09/2004	27/09/2004	21/12/2009	Active	NO
4	U34100DL2007PLC164171	ELIN AUTO COMPONENTS LIMITED	Director	30/05/2007	30/05/2007	-	Active	NO
5	U29304WB1982PLC034725	ELIN ELECTRONICS LTD.	Whole-time director	01/07/2011	06/08/2007	-	Active	NO

Name :

Mr. Budh Singh Sethia

Designation :

Whole Time Director

Address :

Sethia Sadan, B-23, Sector – 14, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

15.01.1950

Date of Appointment :

26.03.1982

DIN No.:

00082232

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	U29304WB1982PLC034725	ELIN ELECTRONICS LTD.	Whole-time director	01/07/2011	26/03/1982	-	Active	NO
2	U29219HP1983PTC005404	MAGTRONIC DEVICES PVT LTD	Director	29/12/1988	29/12/1988	-	Active	NO
3	U40101DL2004PTC127077	REVLITE ENERGY SOLUTIONS PRIVATE LIMITED	Director	22/06/2004	22/06/2004	-	Active	NO
4	U72300DL2007PTC166713	GEO CALL CONNECT SERVICE SOLUTIONS PRIVATE LIMITED	Additional director	10/09/2007	10/09/2007	-	Active	NO

Name :

Mr. Ravi Bhikamchand Sethia

Designation :

Whole Time Director

Address :

5, Janki Shah Road, Kolkata – 700 022, West Bengal, India

Date of Birth/Age :

19.04.1965

Date of Appointment :

04.10.2004

DIN No.:

00086092

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	U15132WB1951PTC019873	BANSHIHARI RICE MILLS PVT LTD	Director	05/10/1987	05/10/1987	07/07/2009	Active	NO
2	U29309MH1991PTC063707	AISHANI ELECTRONICS PVT LTD	Director	22/10/1991	22/10/1991	12/01/2010	Active	NO
3	U29304WB1982PLC034725	ELIN ELECTRONICS LTD.	Whole-time director	01/10/2009	04/10/2004	-	Active	NO
4	U25190WB2008PTC126120	ZENITH POLYMERS PRIVATE LIMITED	Director	26/05/2008	26/05/2008	15/04/2009	Active	NO
5	U51109WB2008PTC127965	ESTEEM TRADELINK PRIVATE LIMITED	Director	30/08/2008	30/08/2008	-	Active	NO
6	U25190WB2005PTC104281	GLOBUS RUBCHEM PRIVATE LIMITED	Director	04/09/2009	04/09/2009	-	Active	NO

Name :

Mr. Vijay Singh Sethia

Designation :

Director

Address :

B-140-141, Sector – 30, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

21.01.1941

Date of Appointment :

26.04.1996

DIN No.:

00354684

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	U24247WB1992PLC053986	SETHIA OIL INDUSTRIES LTD.	Director	21/11/1994	21/11/1994	-	Active	NO
2	U29304WB1982PLC034725	ELIN ELECTRONICS LTD.	Director	26/04/1996	26/04/1996	-	Active	NO
3	U32301WB1997PTC082621	CALCUTTA ELECTRONICS PRIVATE LIMITED	Director	17/01/1997	17/01/1997	28/05/2012	Active	NO
4	U15143WB2006PLC108159	SETHIA AGROTECH LIMITED	Director	21/02/2006	21/02/2006	17/11/2009	Active	NO
5	U74200DL2010PTC205442	SANPRE DESIGNS PRIVATE LIMITED	Director	07/07/2010	07/07/2010	-	Active	NO

Name :

Mr. Sanjeev Sethia

Designation :

Whole Time Director

Address :

B-140-141, Sector – 30, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

24.04.1969

Date of Appointment :

29.08.2008

DIN No.:

00354700

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	U32301WB1997PTC082621	CALCUTTA ELECTRONICS PRIVATE LIMITED	Director	17/07/2000	17/07/2000	28/05/2012	Active	NO
2	U32109WB1988PTC095530	ASIAN MAGNETIC DEVICES PRIVATE LIMITED	Director	29/08/2000	29/08/2000	29/08/2008	Active	NO
3	U00000DL2000PTC108492	SEBOK INTERNATIONAL (P) LTD.	Director	10/11/2000	10/11/2000	25/12/2009	Active	NO
4	U15143WB2006PLC108159	SETHIA AGROTECH LIMITED	Director	21/02/2006	21/02/2006	10/11/2009	Active	NO
5	U29304WB1982PLC034725	ELIN ELECTRONICS LTD.	Whole-time director	01/07/2011	29/08/2008	-	Active	NO
6	U74200DL2010PTC205442	SANPRE DESIGNS PRIVATE LIMITED	Director	07/07/2010	07/07/2010	-	Active	NO
7	U34100DL2007PLC164171	ELIN AUTO COMPONENTS LIMITED	Director	13/02/2012	13/02/2012	-	Active	NO

Name :

Mr. Sumit Sethia

Designation :

Whole Time Director

Address :

9, Sagar Housing Co-Operative Society, Donapaulo, Goa – 403 006, India

Date of Birth/Age :

01.04.1973

Date of Appointment :

06.08.2007

DIN No.:

00831799

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	U32109WB1988PTC095530	ASIAN MAGNETIC DEVICES PRIVATE LIMITED	Director	25/05/1997	25/05/1997	30/09/2007	Active	NO
2	U64940GA2004PTC003619	AAMRAPALI DIGITAL IMAGING PRIVATE LIMITED	Director	06/10/2004	06/10/2004	-	Active	NO
3	U29304WB1982PLC034725	ELIN ELECTRONICS LTD.	Whole-time director	01/07/2011	06/08/2007	-	Active	NO
4	U70109WB2012PTC185230	SETHIA REALTY PRIVATE LIMITED	Director	29/08/2012	29/08/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Mitra Kumari Gulgulia
Designation :	Secretary
Address :	Deshnoke, Bikaner, Rajasthan – 334801, Rajasthan, India
Date of Birth/Age :	22.10.1982
Date of Appointment :	16.08.2011
PAN No.:	ATOPM6349M
Name :	Mr. Chaudhary
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

NOTE: SHAREHOLDERS DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2012

Category	Percentage
Mutual funds	4.77
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others)	0.92
Bodies corporate	22.21
Directors or relatives of Directors	71.96
Others	0.14
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electronic Products and Components

Products :

Item Code No. (ITC Code)	852290.00
Product Description	Tape Deck Mechanism
Item Code No. (ITC Code)	850110.01
Product Description	D.C. Micro/ UV Motor
Item Code No. (ITC Code)	940590.00
Product Description	Electric Light Fittings
Item Code No. (ITC Code)	851310.10
Product Description	Led Flash Light

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Industrial Finance Bank, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi-110001, Delhi, India

Facilities :

(Rs. In Millions)

SECURED LOANS	31.03.2012	31.03.2011
Secured Borrowings	68.943	67.743
Loans taken for Fixed Assets	66.935	65.440
Working capital loan bank secured	2.008	2.303
Total	169.1172	298.539

Banking Relations :	--
Auditors :
Name :	Chaturvedi and Company Chartered Accountants
Address :	2-1, Park Centre, 24, Park Street, Kolkata – 700 016, West Bengal, India
Associates	· Elin Appliances Private Limited [CIN No.: U31300HP2002PTC025355] · Lifelong Elin Auto Comp. Limited [CIN No.: U34100DL2007PLC164171]
Enterprises Over Which Key Management Personnel Have Significant Influence	· Electronic Components Industries [PAN No.: AAAFE7756P] · Kanchan Commercial Private Limited [CIN No. U01122WB1950PTC018549] · Magtronic Devices Private Limited [CIN No.: U29219HP1983PTC005404] · Aishani Electronics Private Limited [CIN No.: U29309MH1991PTC063707] · Calcutta Electronics Private Limited [CIN No.: U32301WB1997PTC082621] · Sethia Finance and Trading Company · GEO Call Connect Service Solution Private Limited [CIN No.: U72300DL2007PTC166713] · Revlite Energy Solutions Private Limited [CIN No.: U40101DL2004PTC127077]

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
75,00,000	Equity Shares	Rs.10/- each	Rs.75.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6287700	Equity Shares	Rs.10/- each	Rs.62.877 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		62.877	62.877	62.877
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		494.214	440.469	384.807
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		557.091	503.346	447.684
LOAN FUNDS
1] Secured Loans		281.281	298.539	336.189
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		281.281	298.539	336.189
DEFERRED TAX LIABILITIES		12.648	13.518	12.422
TOTAL		851.020	815.403	796.295
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		416.279	375.504	321.223
Capital work-in-progress		0.000	0.000	24.709
INVESTMENT		12.168	12.012	11.674
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	344.590	345.222	239.661
	Sundry Debtors	356.384	272.853	281.183
	Cash & Bank Balances	23.202	23.203	24.963
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	120.414	134.200	123.469
Total Current Assets		844.590	775.478	669.276
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	310.662	236.909	162.854
	Other Current Liabilities	88.670	91.601	39.318
	Provisions	22.685	19.081	28.415
Total Current Liabilities		422.017	347.591	230.587
Net Current Assets		422.573	427.887	438.689
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		851.020	815.403	796.295

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	2914.271	2269.813	1850.769
		Other Income	2.526	3.796	10.214
		TOTAL (A)	2916.797	2273.609	1860.983
Less	EXPENSES
		Consumption materials changes inventories	2074.968	1601.362	1260.360
		Purchases of stock-in-trade	5.950	5.815	0.000
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(6.705)	(31.140)	0.000
		Manufacturing service costs	0.000	0.000	171.871
		Employee related expenses	282.585	235.088	186.264
		Administrative selling other expenses	0.000	0.000	47.030
		Research development expenditure	0.000	0.000	24.352
		Other Expenses	342.541	277.184	0.000
		TOTAL (B)	2699.339	2088.309	1689.877
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		217.458	185.300	171.106
Less	FINANCIAL EXPENSES (D)		84.837	57.346	41.369
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		132.621	127.954	129.738
Less/ Add	DEPRECIATION/ AMORTISATION (F)		66.216	57.869	50.532
	PROFIT BEFORE TAX (E-F) (G)		66.405	70.085	79.205
Less	TAX (I)		12.660	14.426	15.242
	PROFIT AFTER TAX (G-I) (J)		53.745	55.659	63.963
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		175.799	160.140	136.177
Less	APPROPRIATIONS
		Transfer to General Reserve	35.000	40.000	40.000
	BALANCE CARRIED TO THE B/S		194.544	175.799	160.140
	EARNINGS IN FOREIGN CURRENCY		0.390	1.480	5.632
	IMPORTS
	Raw Materials		36.630	25.783	18.292
	Capital Goods		5.903	2.459	32.232
	Machine Spares		1.502	2.809	0.000
	Total		44.035	31.051	50.524
	Earnings Per Share (Rs.)		8.55	8.85	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.84	2.44	3.44
Net Profit Margin (PBT/Sales)	(%)	2.28	3.09	4.28
Return on Total Assets (PBT/Total Assets}	(%)	5.27	5.94	8.00
Return on Investment (ROI) (PBT/Networth)		0.12	0.14	0.18
Debt Equity Ratio (Total Debt/Networth)		0.50	0.59	0.75
Current Ratio (Current Asset/Current Liability)		2.00	2.38	2.90

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
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	Yes
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 involved in	----
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

OPERATIONS

During the year under review, the turnover inclusive of excise duty increased by 28.5% to Rs. 3123.394 Millions as against Rs. 2429.899 Millions in the previous year. The net profit after tax was Rs. 53.745 Millions as against Rs. 55.659 Millions in the previous year.

During the year under report, Universal motors, Led Flash Light and Electric Light Fitting Products contributed substantially in turnover.

CONTINGENT LIABILITIES

31.03.2012

Rs. In Millions

(A) Claims against the company not acknowledged as debt

- Excise Duty 1.864

- Commercial Taxes 5.719

(B) Corporate Guarantees 65.000

(C) Letter of Credit 26.262

(D) Outstanding Bank Guarantee 3.017

Total 101.862

Corporate identity number of the company	U29304WB1982PLC034725
Name of the company	ELIN ELECTRONICS LIMITED
Address of the registered office or of the principal place of business in India of the company	143, Cotton Street, Kolkata – 700 007, West Bengal, India E-Mail: rkc@elinindia.com
This form is for	Modification of charge
Charge identification number of the modified	90251465
Type of charge	· Immovable Property · Book Debts · Movable Property
Particular of charge holder	State Bank of India, Industrial Finance Branch, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi – 110 001, India E-Mail: prakash.sharma@sbi.co.in
Nature of description of the instrument creating or modifying the charge	Form C.1-A (Supplemental Agreement of loan for increase in the overall limit) Form C.2-A (Supplemental Agreement of Hypothecation of goods and assets for increase in the overall limit)
Date of instrument Creating the charge	08.10.2011
Amount secured by the charge	Rs.675.700 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 3 % above base rate i.e. 13 % p.a. at monthly rests on cash credit ; AT 4% above base rate i.e. currently 14 % p.a. with Reset after every two years on New Term Loans-VI. Terms of Repayment: TL-V (New TL) - 16 quarterly installments of Rs.1.875 Millions each, commencing from April 12 and ending in jan 16. Margin: Raw Material - 25% Stock in Process - 25% Finished Goods - 25% Spares and Stores - 25% Receivables (cover period-90 days) - 35% LC/BG - 10% Extent and Operation of the charge: Cash Credit: First charge by way of hypothecation on entire current assets including raw material, stock in process, finished goods, consumables, stores and spares and receivables of company and extension of charge on entire fixed assets of the company. Term Loan: First charge on entire fixed assets of the company including Equitable Mortgage of 1- Factory land and building at C-143, C-144, C-144/2, Site No.-1, BSR Road, Ghaziabad 2. Factory, Land and Building at L84 Verna Industrial Area, Goa and extension of charge on entire assets of company.
Short particulars of the property charged	1. EQM of factory land and building at C-143, C-144, C-144/2 Site No. 1, Bullandshahar Road, Industrial Area, Ghaziabad 2.EQM of factory land and building at L-84, Verna Industrial Area, Goa hypothecation on the entire current assets including raw material, stock in process, finished goods, consumables, stores and spares and receivables of the company and entire fixed assets
Date of latest modification prior to the present modification	03.11.2010
Particulars of the present modification	Total limits increased from Rs.5.957 Millions to Rs.6.757 Millions with increase in cash credit limit from Rs. 250.000 Millions to Rs.300.000 Millions and Fresh Term Loan V of Rs.30.000 Millions.

FIXED ASSETS:

· Leasehold Land

· Building (Factory and Non Factory)

· Plant and Machinery (Including Pollution Control Equipment and R and D Machinery, Tools etc.)

· Dies, Moulds and Tools

· Electric Installations

· Furniture and Fixtures

· Office Equipments

· Vehicles

· Goodwill

· Technical Know How

WEBSITE DETAILS:

AWARDS:

1982	ELCINA award for Excellence In Exports
1991-92	1991-92 Philips (C.E.) the Best Co-maker award. Elin R and D Recognised by Department of Science and Technology, Govt. of India.
1993	Two Star Industries award from Directorate of Industries
1994	Import Substitution award from All India Radio and Electronic Association
1994	Excellence in Electronics award from Govt. of India.
1996	ISO 9001 certification by DNV (Netherlands) ELCINA award for Indigenous Development of Capital Goods
1997-98	ESC award for Excellence in Export. ELCINA award for Export Growth.
1997-98	ELCINA award for Excellence in Quality. National award for Excellence in Electronic Components from Deptt. of Electronics (Govt. of India)
1999-00	ELCINA award for Indigenisation of Capital Goods for Manufacture of Electronic Products. ELCINA award for Research and Development Work in the field of electronic components.
2001-02	2001-02 ELCINA award of Excellence for Environment Management ELCINA award for Quality
2002-03	Quality Excellence Award from Institute of Trade and Industrial Development
2003-04	Certificate of Green Partner from Sony – Japan (ROHS Compliance)
2006 -07	Best Delivery Performance Award from Denso
2007-08	MSME – National Award -2008 Ministry of Micro, Small and Medium Enterprises, Govt. of India for outstanding efforts in Entrepreneurship
2008-09	FICCI-SEDF Corporate Social Responsibility Award 2009. “Jury Commendation Award” Category: Small and Medium Enterprises (SMEs)
2008-09	Award for Best Performance in Outstanding support from Denso
2009-10	Award For Best Performance in Cost from Denso
2009-10	HR Excellence Award for The Year 2009-10
2009-10	Gold Award for Innovation In RETENTION STRATEGY.

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 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.54.39
UK Pound	1	Rs.82.32
Euro	1	Rs.69.54

INFORMATION DETAILS

Report Prepared by :

SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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.