MIRA INFORM REPORT

Report Date :

18.04.2013

IDENTIFICATION DETAILS

Name :	JAYATMA INFORMATICS PRIVATE LIMITED
Formerly Known As :	KALYAN (TEX) PRIVATE LIMITED
Registered Office :	259, 3rd Floor, New Cloth Market, Outside Raipur Gate, Ahmedabad – 380002, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	02.03.1987
Com. Reg. No.:	04-009462
Capital Investment / Paid-up Capital :	Rs.0.600 Million
CIN No.: [Company Identification No.]	U17100GJ1987PTC009462
Legal Form :	Private Limited Liability Company
Line of Business :	Service Provider of IT Solutions.
No. of Employees :	100 (Approximately)

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 220000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The company is progressing well. 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.

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.

INFORMATION PARTED BY

Name :	Mr. Vaibhav
Designation :	Accounts Department
Contact No.:	91-79-40227000
Date :	17.04.2013

LOCATIONS

Registered Office :	259, 3rd Floor, New Cloth Market, Outside Raipur Gate, Ahmedabad – 380002, Gujarat, India
Tel. No.:	91-79-22167030
Fax No.:	91-79-22170077
E-Mail :	santaramltd@gmail.com
Website :	http://www.jayatma.com
Branch Office 1 :	1, Laxmi Nagar Society, Next to Naranpura Post office, Naranpura, Ahmedabad – 380013, Gujarat, India
Tel. No.:	91-79-40227000
Fax No.:	91-79-40227020
E-Mail :	it@jayatma.com
Branch Office :	Also located at: · New Delhi · Bangalore · Chennai · Rajahmundry

DIRECTORS

As on: 29.09.2012

Name :	Mr. Nirav Kalyanbhai Shah
Designation :	Managing Director
Address :	36, Kalyan, Sanjiv Baug Society, New Sharda Mandir Raod, Paldi, Ahmedabad – 380007, Gujarat, India
Date of Birth/Age :	05.06.1973
Date of Appointment :	01.11.2012
DIN No.:	00397336
Name :	Mr. Pradipbhai Rasiklal Shah
Designation :	Director
Address :	1, Laxmi Niwas Society, Ahmedabad – 380007, Gujarat, India
Date of Birth/Age :	07.12.1941
Date of Appointment :	15.04.2004
DIN No.:	00406371
Name :	Mr. Rajesh Kharbanda
Designation :	Director
Address :	38, Green Park, Cool Road, Jalandhar – 144004, Punjab, India
Date of Birth/Age :	24.06.1968
Date of Appointment :	25.09.2009
DIN No.:	01495928
Name :	Mr. Rajanish Dass
Designation :	Director
Address :	T-5, Faculty Houses, Indian Institute of Management, Vastrapur, Ahmedabad – 380015, Gujarat, India
Date of Birth/Age :	22.03.1973
Date of Appointment :	25.09.2009
DIN No.:	02363268
Name :	Mr. Vijay Ranjan
Designation :	Additional Director
Address :	42, Goyal Palace, Vastrapur, Ahmedabad – 380015, Gujarat, India
Date of Birth/Age :	17.08.1947
Date of Appointment :	25.11.2009
DIN No.:	02346190

KEY EXECUTIVES

Name :	Mr. Vaibhav
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Kalyanbhai Jayantilal Shah	1000
Dhairiniben K. Shah and joint Kalyan Shah	500
Nanditaben Ashokbhai Shah and Ashokbhai Jayantilal Shah	500
Kalyanbhai Jayantilal Shah and joint Dhairiniben K. Shah	500
Ashokbhai Jayantilal Shah and joint Nanditaben Ashokbhai Shah	500
Dimple Nirav Shah	4900
Apurva Kalyanbhai Shah	25400
Dimple N Shah	100
Kalyan J. Shah and joint Ashok J. Shah	1000
(Master) Devansh Nirav Shah and Nirav Kalyanbhai Shah	25600
Total	60000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of directors	98.33
Other top fifty shareholders	1.67
Total	100.00

BUSINESS DETAILS

Line of Business :	Service Provider of IT Solutions.
Terms :
Selling :	Cheque
Purchasing :	Cheque

GENERAL INFORMATION

No. of Employees :

100 (Approximately)

Bankers :

· Union Bank of India, Ashram Road Branch, Ashram Road, Ahmedabad - 380009, Gujarat, India

Tel. No.: 91-79-26588673

· Punjab National Bank, Nehrunagar Circle, Ahmedabad - 380015, Gujarat, India

· HDFC Bank Limited

· State Bank of India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Other Long Term Borrowing	1.763	2.604
Cash/Credit limits taken from the Punjab National Bank (Against Hypothecation of book debts)	11.070	8.883
Cash/Credit limits taken from the Union Bank of India ((Against Hypothecation of book debts)	0.000	0.313
Total	12.833	11.800

Banking Relations :	--
Auditors :
Name :	ANS and Associates Chartered Accountants
Address :	7-B, Vardan Complex, Stadium Road, Navrangpura, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-30046414/ 30046415
E-Mail :	ansassociates1994@yahoo.com
PAN No.:	ABIPS3406M
Associates :	Serve Logistic Private Limted

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
60000	Equity Shares	Rs.10/- each	Rs.0.600 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60000	Equity Shares	Rs.10/- each	Rs.0.600 Million

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		0.600	0.600	0.600
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		55.396	39.413	26.497
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		55.996	40.013	27.097
LOAN FUNDS
1] Secured Loans		12.833	11.800	9.838
2] Unsecured Loans		2.934	2.989	3.284
TOTAL BORROWING		15.767	14.789	13.122
DEFERRED TAX LIABILITIES		2.010	1.714	1.823
TOTAL		73.773	56.516	42.042
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		32.248	28.670	23.792
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		56.432	9.491	1.917
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.020	0.020	0.256
	Sundry Debtors	45.950	79.390	51.961
	Cash & Bank Balances	1.917	0.514	2.761
	Other Current Assets	5.670	6.400	0.000
	Loans & Advances	4.892	2.029	19.663
Total Current Assets		58.449	88.353	74.641
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	44.154	29.077	15.081
	Other Current Liabilities	25.526	38.251	34.888
	Provisions	3.676	2.670	8.339
Total Current Liabilities		73.356	69.998	58.308
Net Current Assets		(14.907)	18.355	16.333
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		73.773	56.516	42.042

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	191.889	192.618	115.187
		Trading Sales	0.000	1.217	1.055
		Other Income	13.426	1.046	0.595
		TOTAL (A)	205.315	194.881	116.837
Less	EXPENSES
		Employee Benefit Expenses	63.112	103.478
		Operation Administration and Other Expenses	108.878	61.442
		Purchase of Stock-in-Trade	0.000	1.217
		TOTAL (B)	171.990	166.137	96.373
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		33.325	28.744	20.464
Less	FINANCIAL EXPENSES (D)		1.751	1.541	0.791
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		31.574	27.203	19.673
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.182	7.796	9.723
	PROFIT BEFORE TAX (E-F) (G)		23.392	19.407	9.950
Less	TAX (H)		7.269	6.351	3.210
	PROFIT AFTER TAX (G-H) (I)		16.123	13.056	6.740
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		39.085	26.497	19.757
Less	APPROPRIATIONS
		Proposed Dividend	0.120	0.120	-
		Transfer to General Reserve	0.410	0.328	-
		Corporate dividend distribution Tax	0.019	0.020	-
	BALANCE CARRIED TO THE B/S		54.658	39.085	26.497
	Earnings Per Share (Rs.)		268.72	217.60	112.33

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	7.85	6.70	5.77
Net Profit Margin (PBT/Sales)	(%)	12.19	10.01	8.56
Return on Total Assets (PBT/Total Assets}	(%)	25.79	16.58	10.11
Return on Investment (ROI) (PBT/Networth)		0.42	0.49	0.37
Debt Equity Ratio (Total Debt/Networth)		0.28	0.37	0.48
Current Ratio (Current Asset/Current Liability)		0.80	1.26	1.28

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

(Rs. In Millions)

Particulars	31.03.2012	31.03.2011	31.03.2010
Sundry Creditors
Sundry Creditor for Expenses	4.368	11.075
Sundry Creditor for Services	36.945	11.468
Sundry Creditor for Capital Assets	2.841	6.534
Total	44.154	29.077	15.081

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	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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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	No

OPERATIONS

During the year, the Company has achieved total revenue of Rs.205.300 Millions as compared to Rs. 194.900 Millions showing an increase of 5.34%. The Company has recorded Profit before Tax of Rs.23.400 Millions (P.Y. Rs. 19.400 Millions). The Net Profit of the Company stood at Rs.16.100 Millions during the year compared to Rs.13.100 Millions during 2010-11. The Directors expect better results in near future.

UNSECURED LOAN

(Rs. In Millions)

Particular	As on 31.03.2012	As on 31.03.2011
Term Loan
From Other Parties	2.934	2.989
Total	2.934	2.989

FIXED ASSETS

· Computer and Scanners

· Air Conditioner

· Electric Installation

· Television

· Printer

· Furniture and Fixture

· Motor Car

· Mobile

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 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.53.94
UK Pound	1	Rs.82.77
Euro	1	Rs.71.05

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--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	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.