MIRA INFORM REPORT

Report Date :

22.01.2013

IDENTIFICATION DETAILS

Name :	DIGITAL PROMOTERS INDIA PRIVATE LIMITED

Registered Office :	502 and 505, Vishal Bhawan, 95, Nehru Place, New Delhi – 110 019, Delhi

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	27.09.1988

Com. Reg. No.:	55-033343

Capital Investment / Paid-up Capital :	Rs.0.304 Million

CIN No.: [Company Identification No.]	U74899DL1988PTC033343

TAN No.: [Tax Deduction & Collection Account No.]	DELD02246G

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Temperature Instruments, Recorders, Tachometers, Timers, Pressure Transmitter.

No. of Employees :	35 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 170000

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is a well established and reputed company having fine track record. Directors are reported as an experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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

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

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. Anil Sood
Designation :	Director
Contact No.:	91-11-47003900
Date :	14.01.2013

LOCATIONS

Registered Office / Factory :	502 and 505, Vishal Bhawan, 95, Nehru Place, New Delhi – 110 019, India
Tel. No.:	91-11-47005900/41618100/26437849
Mobile No.:	91-11-47003900 [Mr. Anil Sood]
Fax No.:	91-11-26437849
E-Mail :	dpipl@vsnl.com digitalpromoters@gmail.com info@digitalpromoters.com
Website :	http://www.digitalpromoters.com
Area :	2000 Sq. Ft.
Location :	Owned

DIRECTORS

AS ON 30.09.2012

Name :	Mr. Anil Sood
Designation :	Whole Time Director
Address :	C-81, Kirti Nagar, New Delhi – 110 015, India
Date of Birth/Age :	22.09.1954
Date of Appointment :	27.09.1988
DIN No.:	00486837

Name :	Mr. Surender Mohan Khera
Designation :	Whole Time Director
Address :	33-B, Pocket-C, SFS Flats, Mayur Vihar – III, New Delhi – 110 096, India
Date of Birth/Age :	22.07.1937
Date of Appointment :	17.03.2003
DIN No.:	00486831

MAJOR SHAREHOLDERS

AS ON 30.09.2012

Names of Shareholders	No. of Shares
Mr. Anil Sood	15100
Mr. Surinder Mohan Khera	15200
Ms. Geeta Sood	100
TOTAL	30400

AS ON 30.09.2012

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Temperature Instruments, Recorders e.t.c

Products :

Process Control Instruments
Scanners, Recorders and Date Loggers
Test and Measurement Instruments
Power Monitoring Instruments
Filed Sensor and Isolators
Timers and Counters
Calibrators
Switched Mode Power Supplies
Panel Accessories

Item Code No.	Product Description
902920.00	Techometers
910700.00	Timers
850440.01	Uninterrupted Power Supply

Exports :

Products :

· Temperature Instruments

· Recorders e.t.c

Countries :

· Malaysia

· Turkey

Imports :

Products :

Raw Material

Countries :

· Taiwan

· USA

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

Retailers

No. of Employees :

35 (Approximately)

Bankers :

· HDFC Bank Limited, Nehru Branch, Delhi

ICICI Bank
Punjab National Bank
Bank of India

Facilities :

Secured Loan

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Term Loan From Banks

0.000

0.301

TOTAL

0.000

0.301


Banking Relations :	--

Auditors :
Name :	Vinay Sethi and Associates Chartered Accountants
Address :	L-47,Lower Ground Floor, Lajpat Nagar – II, New Delhi – 110024, India
Tel. No.:	91-11-29819697
E-Mail :	vinay@cavinaysethi.com
PAN No.:	AARPS1504J

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount

100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

30400	Equity Shares	Rs.10/- each	Rs.0.304 Million

Share capital	As at 31.03.2012

Authorized : 100,000 (Previous Year: 100,000) equity shares of Rs.10/- each	1.000

Issued, subscribed and paid up 30,400 (Previous Year: 30,400) equity shares of Rs.10/- each	0.301

Reconcilation of number of shares Number of shares at the beginning Number of shares at the end	30400

Shareholders holding more than 5% of total number of shares Anil Sood S.M Khera	15100 15200

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		0.304	0.304	0.304
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		42.769	33.778	24.985
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		43.073	34.082	25.289
LOAN FUNDS
1] Secured Loans		0.000	0.301	0.777
2] Unsecured Loans		0.000	0.000	0.007
TOTAL BORROWING		0.000	0.301	0.784
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		43.073	34.383	26.073

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		3.365	3.407	3.950
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		8.273	5.512	5.246
DEFERREX TAX ASSETS		0.298	0.269	0.222

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	22.166	16.113	8.546
	Sundry Debtors	13.987	12.261	10.541
	Cash & Bank Balances	5.231	5.271	5.363
	Other Current Assets	0.143	0.000	0.000
	Loans & Advances	5.602	5.113	5.810
Total Current Assets		47.129	38.758	30.260
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9.504	6.894	8.579
	Other Current Liabilities	0.288	0.709	0.649
	Provisions	6.200	5.960	4.377
Total Current Liabilities		15.992	13.563	13.605
Net Current Assets		31.137	25.195	16.655

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		43.074	34.383	26.073

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	137.336	127.263	101.352
		Other Income	N.A	1.013	1.096
		TOTAL	N.A	128.276	102.448

Less	EXPENSES
		Office Expenses
		Administrative Expenses	N.A	115.325	92.648
		Advertising Expenses
		TOTAL	N.A	115.325	92.648

	PROFIT / (LOSS) BEFORE TAX		12.887	12.951	9.800

Less	TAX		N.A	4.088	2.802

	PROFIT / (LOSS) AFTER TAX (G-H)		N.A	8.863	6.998

	TOTAL EARNINGS		0.110	0.194	0.460

	Earnings Per Share (Rs.)		N.A	291.56	230.21

Expected Sales (2012-2013) : Rs.170.000 Millions

The above information has been parted by Mr.Anil Sood [Director]

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	N.A	6.91	6.83

Net Profit Margin (PBT/Sales)	(%)	9.38	10.18	9.67

Return on Total Assets (PBT/Total Assets}	(%)	25.52	30.72	28.65

Return on Investment (ROI) (PBT/Networth)		0.30	0.38	0.39

Debt Equity Ratio (Total Liability/Networth)		0.37	0.41	0.57

Current Ratio (Current Asset/Current Liability)		2.95	2.86	2.22

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	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 two years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
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	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

DIRECTOR REPORT

The Company has made sales at Rs. 137.336 Millions (Previous Year Rs. 127.263 Millions). The profits before taxes are at Rs. 12.887 Millions (Previous Year Rs. 12.951 Millions). There was a small increase in turnover although the profits have shown a marginal decline mainly because of increase in certain unavoidable expenses. The Company hopes to perform better in future.

The Board of Directors do not recommend any dividend this year (Previous Year: 20%).

The notes on accounts are self-explanatory and do not need further comments/ elaboration’s from the Directors.

FIXED ASSETS

· Furniture

· Fixture and fan

· Vehicles

· Scooters

· Motor Cycles

· Cycle

· Air Conditioner

· Camera

· Copier

· Cellular Phones

· Generator

· Elec. Telephone System

· Fax Machine

· Music System

· Water Dispenser

· Tea Coffee Machine

· Shredding Machine

· Safire Electronic

· Weighing Machine

· Refrigerator

· Computers

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 recordsexist 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.53.87
UK Pound	1	Rs.85.53
Euro	1	Rs.71.78

INFORMATION DETAILS

Information Gathered by :	SVA

Report Prepared by :	HET

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	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		51

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.