MIRA INFORM REPORT

Report Date :

08.02.2013

IDENTIFICATION DETAILS

Name :	DIKIBI TECHNOLOGIES PRIVATE LIMITED
Registered Office :	361/362, Budhwar Peth, Pune – 411002, Maharashtra
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	19.02.2004
Com. Reg. No.:	11-18933
Capital Investment / Paid-up Capital :	Not Divulged
CIN No.: [Company Identification No.]	U30007PN2004PTC018933
TAN No.: [Tax Deduction & Collection Account No.]	PNED03690B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Computer peripherals
No. of Employees :	18 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 8800
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The verified financials are not available. Mr. Imtiaz, Accounts Manager has provided all required information. The company has recorded better sales turnover during 2012. Trade relations are reported as fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some caution. Note : Due to technical error in the government sites, we hereby provide you the report with available details and we would provide you with a on the same company as soon as we get the additional information.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

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

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. Imtiaz
Designation :	Accounts Manager
Contact No.:	91-20-24467181
Date :	08.02.2013

LOCATIONS

Registered Office / Factory :	361/362, Budhwar Peth, Pune – 411002, Maharashtra, India
Tel. No.:	91-20-24467181/82/83
Fax No.:	91-20-24467183
E-Mail :	brijen@dikibitech.co.in dikibi@vsnl.com
Website :	www.dikibitech.co.in
Area :	1500 sq. ft.
Location :	Owned

DIRECTORS

As on 30.09.2009

Name :	Mr. Brijen Kishorechandra Shah
Designation :	Director
Address :	101, Sujay Garden, Mukund Nagar, Pune – 411037, Maharashtra, India
Date of Birth/Age :	04.12.1968
Qualification :	MBA
Date of Appointment :	19.02.2004
Name :	Mrs. Roshani Brijen Shah
Designation :	Director
Address :	101, Sujay Garden, Mukund Nagar, Pune – 411037, Maharashtra, India
Date of Birth/Age :	18.09.1969
Qualification :	Graduate
Date of Appointment :	19.02.2004

KEY EXECUTIVES

Name :	Mr. Imtiaz
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2009

Names of Shareholders	No. of Shares
Brijen Kishorechandra Shah	9000
Roshani Brijen Shah	1000
Total	10000

As on 30.09.2009

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Computer peripherals.
Products :	Monitors Printers Projectors Notebooks PC’s Hard Disk USB Drives
Imports :
Products :	Pan Drive
Countries :	China Hong Kong
Terms :
Selling :	RTGS
Purchasing :	RTGS

GENERAL INFORMATION

Customers :

Resellers

No. of Employees :

18 (Approximately)

Bankers :

· Corporation Bank, Aditi Commerce Centre, H – 2406, Gen. Thimmayya Road, East Street, Camp, Pune – 411001, Maharashtra

· HDFC Bank, Shankarseth Road

Facilities :

Cash Credit Rs.20.000 Millions (Form Corporation Bank)

(Rs. In Millions)

Secured Loans	31.03.2009
Cash Credit from Corporation Bank Limited (Secured by hypothecation of stock and book debts and collateral security of house and national saving certificate owned by director and personal guarantee of directors of the company)	6.807
Vehicles Loans – GMAC Finance Services (India) Limited (Secured by hypothecation of Vehicles Purchased)	0.262
Total	7.069

Banking Relations :	--
Auditors :
Name :	Parag Patwa and Associates Chartered Accountants
Address :	313-A, Patil Plaza, Pune – 411009, Maharashtra, India

CAPITAL STRUCTURE

As on 31.03.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.111	1.340	1.071
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.211	1.440	1.171
LOAN FUNDS
1] Secured Loans		7.069	7.999	4.812
2] Unsecured Loans from Shareholders (There is no stipulation in respect of repayment of unsecured loans from shareholders. Hence amount due within 12 months can not be reported)		0.248	0.248	0.658
TOTAL BORROWING		7.317	8.247	5.470
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		9.528	9.687	6.641
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.457	0.567	0.724
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.085	0.043	0.014
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.082	3.484	3.092
	Sundry Debtors	12.704	12.098	12.132
	Cash & Bank Balances	0.000	0.172	0.535
	Other Current Assets	0.000	0.077	0.000
	Loans & Advances	1.823	0.221	0.764
Total Current Assets		19.608	16.052	16.523
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.851	6.628	9.259
	Other Current Liabilities	1.643	0.155	0.027
	Provisions	0.128	0.195	1.096
Total Current Liabilities		10.622	6.978	10.625
Net Current Assets		8.986	9.074	5.898
MISCELLANEOUS EXPENSES		0.000	0.003	0.005
TOTAL		9.528	9.687	6.641

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008	31.03.2007
	SALES
		Income	148.753	131.931	108.415
		Other Income	0.000	0.000	0.000
		TOTAL	148.753	131.931	108.415
Less	EXPENSES
		Office Expenses
		Administrative Expenses	147.447	131.238	107.384
		Advertising Expenses
		TOTAL	147.447	131.238	107.384
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.306	0.693	1.031
Less/ Add	DEPRECIATION/ AMORTISATION		0.154	0.222	0.271
	PROFIT BEFORE TAX		1.152	0.471	0.760
Less	TAX		0.382	0.201	0.375
	PROFIT AFTER TAX		0.770	0.270	0.385
	Earnings Per Share (Rs.)		77.00	27.00	NA

Particulars	31.03.2012
Sales Turnover (Approximately)	240.000

The above information has been parted by Mr. Imtiaz

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008	31.03.2007
PAT / Total Income	(%)	0.51	0.20	0.36
Net Profit Margin (PBT/Sales)	(%)	0.77	0.36	0.70
Return on Total Assets (PBT/Total Assets}	(%)	0.75	2.83	4.41
Return on Investment (ROI) (PBT/Networth)		0.52	0.33	0.65
Debt Equity Ratio (Total Debt /Networth)		3.01	5.73	4.67
Current Ratio (Current Asset/Current Liability)		1.85	2.30	1.56

LOCAL AGENCY FURTHER INFORMATION

sundry creditors details:-

particulars	31.03.2009 (Rs. in millions)	31.03.2008 (Rs. in millions)	31.03.2007 (Rs. in millions)
Sundry Creditors	8.851	6.628	9.259

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	Yes
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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	No
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

FUTURE OUTLOOK:

Baring the unforeseen circumstances and the risk and concerns, the management is hopeful to achieve reasonable performance in the next financial year 2009-2010. The company is in the process of building up its future strategic plans to withstand against the competition, government policies etc., which have a bearing on the overall performance of the company.

Fixed Assets:-

• Furniture

• Air Conditioner
• Computers
• Mobile Phone
• Printer
• Testing Monitor
• Car
• Office Equipment
• Computers Software
• UPS
• Motor Cycle

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.53.14
UK Pound	1	Rs.83.27
Euro	1	Rs.71.94

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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.