1. Summary Information

		Country	India
Company Name	HI-TECH SYSTEMS AND SERVICES LIMITED	Principal Name 1	Mr. Dharam Chand Agrawal
Status	Satisfactory	Principal Name 2	Mr. Vikash Agrawal
		Registration #	21-046263
Street Address	White House, 5^th Floor, 119 Park Street, Kolkata – 700016, West Bengal
Established Date	16.02.1989	SIC Code	--
Telephone#	91-33-22290045/ 22290037	Business Style 1	Electrical
Fax #	91-33-22291264	Business Style 2	--
Homepage	http://www.hitech.in	Product Name 1	Mechanical Instruments
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.13,011,000/-	Product Name 3	--
Shareholders	Bodies corporate 1.73%, Directors or relatives of directors 78.70%, Other top fifty shareholders 19.57%	Banking	Indian Overseas Bank
Public Limited Corp.	No	Business Period	24 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (50)
Related Company
Relation	Country	Company Name	CEO
---	---	---	---
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	498,722,000	Current Liabilities	153,885,000
Inventories	72,165,000	Long-term Liabilities	29,714,000
Fixed Assets	233,868,000	Other Liabilities	73,159,000
Deferred Assets	2,296,000	Total Liabilities	256,758,000
Invest& other Assets	38,177,000	Retained Earnings	575,459,000
		Net Worth	588,470,000
Total Assets	845,228,000	Total Liab. & Equity	845,228,000
Total Assets (Previous Year)	667,341,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales/ Total Income	888,683,000	Net Profit	154,329,000
Sales(Previous yr)/ Total Income	613,191,000	Net Profit(Prev.yr)	104,455,000

MIRA INFORM REPORT

Report Date :

06.12.2013

IDENTIFICATION DETAILS

Name :	HI-TECH SYSTEMS AND SERVICES LIMITED
Registered Office :	White House, 5^th Floor, 119 Park Street, Kolkata – 700016, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	16.02.1989
Com. Reg. No.:	21-046263
Capital Investment / Paid-up Capital :	Rs.13.011 Millions
CIN No.: [Company Identification No.]	U74999WB1989PLC046263
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader of Electrical and Mechanical Instruments and its Accessories.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 2353000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profitability of the company appears to be decent. Overall fundaments of the company seems to be sound and healthy. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BBB [Long Term]
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	16.09.2013

Rating Agency Name	CRISIL
Rating	A3 +
Rating Explanation	Moderate degree of safety and high credit risk.
Date	16.09.2013

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 DECLINED BY

Name :	Mr. D.C. Agarwal
Designation :	Director
Contact No.:	91-33-22290045
Date :	19.11.2013

LOCATIONS

Registered Office :	White House, 5^th Floor, 119 Park Street, Kolkata – 700016, West Bengal, India
Tel. No.:	91-33-22290045/ 22290037
Fax No.:	91-33-22291264
E-Mail :	info@hitech.in subhasis@hitech.in
Website :	www.hitech.in

DIRECTORS

AS ON 30.09.2012

Name :

Mr. Dharam Chand Agrawal

Designation :

Whole-time Director

Address :

4, Shakespeare Sarani, 9^H, Embassy, Kolkata – 700071, West Bengal, India

Date of Birth/Age :

13.09.1939

Date of Appointment :

23.12.2006

DIN No.:

00037001

Other Directorships :

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	U31200WB2001PLC137884	HI-TECH RESOURCE MANAGEMENT LIMITED	Director	16/01/2001	16/01/2001	-	Active	NO
2	U45201WB2004PTC099009	RAJARHAT ESTATES PRIVATE LIMITED	Director	01/07/2004	01/07/2004	-	Active	NO
3	U70101WB2004PTC100187	DINODIA PROJECTS PRIVATE LIMITED	Director	18/10/2004	18/10/2004	-	Active	NO
4	U45209WB2005PTC101454	MEGACITY SPRING VALLEY PRIVATE LIMITED	Director	31/01/2005	31/01/2005	-	Active	NO
5	U45209WB2005PTC101456	DINODIA DEVELOPERS PRIVATE LIMITED	Director	31/01/2005	31/01/2005	-	Active	NO
6	U45203WB2006PTC111672	TIRUPATI RESIDENCY PRIVATE LIMITED	Director	01/11/2006	01/11/2006	26/07/2007	Active	NO
7	U29120WB2005PTC102950	KUSHAGRA INFRASTRUCTURE PRIVATE LIMITED	Additional director	06/11/2006	06/11/2006	25/02/2011	Active	NO
8	U74999WB1989PLC046263	HI-TECH SYSTEMS & SERVICES LIMITED	Whole-time director	16/08/2009	23/12/2006	-	Active	NO
9	U70109WB1986PTC040948	ARUNODAYA BUILDERS PRIVATE LIMITED	Director	22/09/2007	20/03/2007	-	Active	NO
10	U45200WB2005PTC162477	RAJUL DEVELOPERS PRIVATE LIMITED	Director	30/09/2008	01/07/2008	-	Active	NO

Name :

Mr. Vikash Agrawal

Designation :

Managing Director

Address :

4, Shakespeare Sarani, 9^H, Embassy, Kolkata – 700071, West Bengal, India

Date of Appointment :

23.12.2006

DIN No.:

00037141

Other Directorships :

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	U31200WB2001PLC137884	HI-TECH RESOURCE MANAGEMENT LIMITED	Director	16/01/2001	16/01/2001	-	Active	NO
2	U45202WB2004PTC099362	NEW TOWN PROJECTS PRIVATE LIMITED	Director	09/08/2004	09/08/2004	-	Active	NO
3	U70101WB2004PTC100187	DINODIA PROJECTS PRIVATE LIMITED	Director	18/10/2004	18/10/2004	-	Active	NO
4	U72200WB2004PLC100813	KILBURN SOFTWARE TECHNOLOGIES INDIA LIMITED	Director	23/12/2004	23/12/2004	-	Active	NO
5	U45209WB2005PTC101456	DINODIA DEVELOPERS PRIVATE LIMITED	Director	31/01/2005	31/01/2005	-	Active	NO
6	U33122WB2005PTC102777	KENT TECH METERS PRIVATE LIMITED	Director	20/04/2005	20/04/2005	-	Active	NO
7	U29120WB2005PTC102950	KUSHAGRA INFRASTRUCTURE PRIVATE LIMITED	Director	04/05/2005	04/05/2005	09/02/2011	Active	NO
8	U74140WB2006PTC108711	HI-TECH SYSTEMS AND TECHNOCONSULTANTS PRIVATE LIMITED	Director	24/03/2006	24/03/2006	-	Active	NO
9	U74999WB1989PLC046263	HI-TECH SYSTEMS AND SERVICES LIMITED	Managing director	16/08/2009	23/12/2006	-	Active	NO
10	U31100WB2008PTC125252	ANANDALOK PROPERTIES PRIVATE LIMITED	Director	17/03/2009	17/03/2009	23/04/2009	Active	NO

Name :

Mr. Jayanta Saha Chaudhury

Designation :

Director

Address :

186 B. B. Chatterjee Road, Sahana Apartment, Flat-102, K, Kolkata – 700042, West Bengal, India

Date of Birth/Age :

06.08.1944

Date of Appointment :

21.09.2005

DIN No.:

00037037

Other Directorships :

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	U29120WB2005PTC102950	KUSHAGRA INFRASTRUCTURE PRIVATE LIMITED	Director	04/05/2005	04/05/2005	09/02/2007	Active	NO
2	U74999WB1989PLC046263	HI-TECH SYSTEMS AND SERVICES LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO

Name :

Mr. Suprkash Ghosh

Designation :

Additional Director

Address :

Flat No.6, Block-H, No.31/1 Bulbul Co-operative, Patuli Town Ship Kolkata – 700094, West Bengal, India

Date of Birth/Age :

05.11.1958

Date of Appointment :

16.04.2011

DIN No.:

00056389

Other Directorships :

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	U31909WB2004PTC098639	KANSAN TECHNOSYSTEMS PRIVATE LIMITED	Director	22/08/2005	22/08/2005	12/03/2012	Active	NO
2	U74999WB1989PLC046263	HI-TECH SYSTEMS AND SERVICES LIMITED	Additional director	16/04/2011	16/04/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2012

NOTE: SHAREHOLDING DETAILS FILE ATTACHED.

AS ON 30.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	1.73
Directors or relatives of directors	78.70
Other top fifty shareholders	19.57
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Trader of Electrical and Mechanical Instruments and its Accessories.

Products :

PRODUCTS DESCRIPTION	ITEM CODE NO.
Electronic and Mechanical Instruments Accessories, Tools, Spares etc.	90.00
Power Cables	73.00

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Indian Overseas Bank, International Business Branch, 2, Wood Street, Kolkata – 700016, West Bengal, India

· Indusind Bank Limited, 24, Park Street, Kolkata – 700016, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Term Loans
From Others Indian Renewable Energy Development Agency [Secured against hypothecation of plant and machinery and receivables from wind mill at Dhule]	0.000	3.538
Life Insurance Corporation of India [Secured against assignment of life insurance policies of key personals of the company]	29.714	25.231
Short Term Borrowings
From Banks
Indian Overseas Bank [Secured against fixed deposits]	0.000	5.400
Cash Credit/Overdraft Indian Overseas Bank [Secured against hypothecation of book debts]	0.000	11.163
TOTAL	29.714	45.332

Banking Relations :	--
Financial Institution :	Indian Renewable Energy Development Agency Limited, India Habitat Centre, 1^st Floor, East Court Core, 4 A, Lodhi Road, New Delhi-110003, India
Auditors :
Name :	J. S. Vanzara and Associates Chartered Accountant
Address :	Oriental House, Suit -3A, 6C, Elgin Road, Kolkata - 700020, West Bengal, India
Tel. No.:	91-33-22806673/ 6674
Fax No.:	91-33-22809363
E-Mail :	response@jsvassociates.com
PAN No:	response@jsvassociates.com

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1301085	Equity Shares	Rs.10/- each	Rs.13.011 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	13.011	13.011	13.011
(b) Reserves & Surplus	575.459	424.154	324.235
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	588.470	437.165	337.246
(3) Non-Current Liabilities
(a) long-term borrowings	29.714	28.769	149.216
(b) Deferred tax liabilities (Net)	0.000	0.000	1.057
(c) Other long term liabilities	102.966	99.281	100.641
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	132.680	128.050	250.914
(4) Current Liabilities
(a) Short term borrowings	0.000	36.622	3.960
(b) Trade payables	23.767	8.099	6.591
(c) Other current liabilities	27.152	11.327	6.467
(d) Short-term provisions	73.159	46.078	20.762
Total Current Liabilities (4)	124.078	102.126	37.780
TOTAL	845.228	667.341	625.940
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	233.868	258.935	296.227
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	38.177	5.181	14.393
(c) Deferred tax assets (net)	2.296	1.155	0.000
(d) Long-term Loan and Advances	70.170	47.954	26.770
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	344.511	313.225	337.390
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	72.165	81.907	76.026
(c) Trade receivables	189.420	170.031	105.104
(d) Cash and cash equivalents	62.804	31.585	14.181
(e) Short-term loans and advances	176.328	70.593	93.239
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	500.717	354.116	288.550
TOTAL	845.228	667.341	625.940

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	888.683	613.191	522.898
		Other Income	26.175	34.103	17.293
		TOTAL (A)	914.858	647.294	540.191
Less	EXPENSES
		Cost of Materials Consumed	551.338	351.537
		Employee Benefits Expenses	34.523	31.813	406.677
		Other Expenses	58.779	48.677
		TOTAL (B)	644.640	432.027	406.677
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		270.218	215.267	133.514
Less	FINANCIAL EXPENSES (D)		4.303	13.612	18.646
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		265.915	201.655	114.868
Less/ Add	DEPRECIATION/ AMORTISATION (F)		43.495	50.709	60.065
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		222.420	150.946	54.803
Less	TAX (H)		68.091	46.491	21.434
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		154.329	104.455	33.369
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.848	0.930	1.112
Less	APPROPRIATIONS
		Proposed Dividend	2.602	1.301	1.301
		Interim Dividend	0.000	2.602	2.602
		Tax on Dividend	0.422	0.633	0.648
		Transfer to General Reserve	151.000	100.000	29.000
	BALANCE CARRIED TO THE B/S		1.153	0.849	0.930
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports and Others	NA	NA	13.217
	IMPORTS
		Purchases of Traded item	190.495	161.625	194.055
		Capital Goods	0.000	0.161	0.772
	TOTAL IMPORTS		190.495	161.786	194.827
	Earnings / (Loss) Per Share (Rs.)		118.62	80.28	25.65

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	16.87	16.14	6.18
Net Profit Margin (PBT/Sales)	(%)	25.03	24.62	10.48
Return on Total Assets (PBT/Total Assets}	(%)	27.64	22.84	8.96
Return on Investment (ROI) (PBT/Networth)		0.37	0.35	0.16
Debt Equity Ratio (Total Debt/Networth)		0.05	0.15	0.45
Current Ratio (Current Asset/Current Liability)		4.04	3.47	7.64

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	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 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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90254215	13/03/2013 *	370,000,000.00	INDIAN OVERSEAS BANK	INTERNATIONAL BUSINESS BRANCH, 2, WOOD STREET, KOLKATA - 700016, WEST BENGAL, INDIA	B72333818
* Date of charge modification

Unsecured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Short Term Borrowings
From Others	0.000	20.059
TOTAL	0.000	20.059

FIXED ASSETS:

OWN USE

· Land

· Buildings

· Office Equipment

· Plant and machinery

· Computers

· Furniture and Fixtures

· Vehicles

LEASED ASSETS

· Plant and Machinery

· DG Sets

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.61.69
UK Pound	1	Rs.101.08
Euro	1	Rs.84.07

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.