MIRA INFORM REPORT

Report Date :

22.07.2013

IDENTIFICATION DETAILS

Name :	KEVIN TECHNOLOGIES PRIVATE LIMITED
Registered Office :	201/202, Shampath Building, Sarkhej Highway, Bodakdev, Ahmedabad - 380054, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	29.05.2000
Com. Reg. No.:	04-038100
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U72200GJ2000PTC038100
TAN No.: [Tax Deduction & Collection Account No.]	AHMK00144E
PAN No.: [Permanent Account No.]	AABCK4077H
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Electronic Equipments.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 158900
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal business dealings at usual trade terms and condition.

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

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/ Head Office :	201/202, Shampath Building, Sarkhej Highway, Bodakdev, Ahmedabad - 380054, Gujarat, India
Tel. No.:	91-79-26872555
Fax No.:	91-79-26873354/ 26770930
E-Mail :	info@kevintech.com
Website :	http://www.kevintech.com
Sales Office :	B-302, Safal Pegasus, Near Prahladnagar Garden, Anandnagar, Ahmedabad - 380051, Gujarat, India
E-Mail :	info@levomtech.com
Baroda Office:	802, Galav Chembers, Near Sardar Patel Statue, Sayaji Gaunj, Vadodara - 390005, Gujarat, India
E-Mail :	info@kevintech.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Jayant Veljibhai Khambhatta

Designation :

Director

Address :

44, Jawahar Nagar Society, Sarkhej Road, Ahmedabad - 380007, Gujarat, India

Date of Birth/Age :

12.09.1937

Date of Appointment :

29.05.2000

DIN No.:

00032676

Other Directorship :

	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Managing director	01/07/1974	01/07/1974	Active	NO
2	U51909GJ1995PTC026417	KEVIN PROCESS TECHNOLOGIES PRIVATE LIMITED	Director	21/06/1995	21/06/1995	Active	NO
3	U29120GJ1999PTC036177	VAC-U-MAX ASIA PRIVATE LIMITED	Director	22/06/1999	22/06/1999	Active	NO
4	U72200GJ2000PTC038100	KEVIN TECHNOLOGIES PRIVATE LIMITED	Director	29/05/2000	29/05/2000	Active	NO
5	U29297GJ2002PTC041001	KAMBERT MACHINERY COMPANY PRIVATE LIMITED	Director	23/07/2002	23/07/2002	Active	NO

Name :

Mr. Vinitbhai Jayantbhai Khambhatta

Designation :

Director

Address :

44, Jawahar Nagar Society, Sarkhej Road, Ahmedabad - 380007, Gujarat, India

Date of Birth/Age :

05.08.1961

Date of Appointment :

29.05.2000

DIN No.:

00032664

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	Company/ LLP Status	Defaulting status
1	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Whole-time director	16/02/1990	16/02/1990	Active	NO
2	U51909GJ1995PTC026417	KEVIN PROCESS TECHNOLOGIES PRIVATE LIMITED	Director	21/06/1995	21/06/1995	Active	NO
3	U29120GJ1999PTC036177	VAC-U-MAX ASIA PRIVATE LIMITED	Director	22/06/1999	22/06/1999	Active	NO
4	U72200GJ2000PTC038100	KEVIN TECHNOLOGIES PRIVATE LIMITED	Director	29/05/2000	29/05/2000	Active	NO

Name :

Mr. Ketanbhai Jayantbhai Khambhatta

Designation :

Director

Address :

44, Jawahar Nagar Society, Sarkhej Road, Ahmedabad - 380007, Gujarat, India

Date of Birth/Age :

20.01.1970

Date of Appointment :

29.05.2000

DIN No.:

00861301

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	Company/ LLP Status	Defaulting status
1	U51909GJ1995PTC026417	KEVIN PROCESS TECHNOLOGIES PRIVATE LIMITED	Director	21/06/1995	21/06/1995	Active	NO
2	U29120GJ1999PTC036177	VAC-U-MAX ASIA PRIVATE LIMITED	Managing director	22/06/1999	22/06/1999	Active	NO
3	U72200GJ2000PTC038100	KEVIN TECHNOLOGIES PRIVATE LIMITED	Director	29/05/2000	29/05/2000	Active	NO
4	U29297GJ2002PTC041001	KAMBERT MACHINERY COMPANY PRIVATE LIMITED	Director	23/07/2002	23/07/2002	Active	NO
5	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Whole-time director	01/11/2005	01/11/2005	Active	NO
6	U29299GJ2008PTC053165	MATCON IBC SOLUTIONS INDIA PRIVATE LIMITED	Director	05/03/2008	05/03/2008	Strike off	NO

KEY EXECUTIVES

Name :	Mr. Pragnesh Shah
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Jayant Veljibhai Khambhatta	16600
Vinitbhai Jayantbhai Khambhatta	16700
Ketanbhai Jayantbhai Khambhatta	16700
Total	50000

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Electronic Equipments.

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Counter/ Timer Machine	Nos.	No License required hence not applicable	1000	[As certified by a director]

GENERAL INFORMATION

No. of Employees :

60 (Approximately)

Bankers :

Corporation Bank, IFB Branch, Rangoli Building, V S Hospital Road, Ellisbridge, Ahmedabad - 380006, Gujarat, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
SHORT TERM BORROWINGS
Overdraft From Bank
Corporation Bank	1.198	0.000
Total	1.198	0.000

Banking Relations :	--
Auditors :
Name :	Divyang N. Patel and Company Chartered Accountants
Address :	403, 4th Floor, Rudramal Complex, Choice Street, Off C.G Road, Navrangpura, Ahmedabad – 380009, Gujarat, India
Income-tax PAN of auditor or auditor's firm :	ABEPP8945N

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs. 10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs. 10/- each	Rs. 0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500
(b) Reserves & Surplus	39.229	35.023
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	39.729	35.523
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.580	0.540
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.580	0.540
(4) Current Liabilities
(a) Short term borrowings	1.198	0.000
(b) Trade payables	4.910	7.395
(c) Other current liabilities	7.790	3.132
(d) Short-term provisions	2.800	2.380
Total Current Liabilities (4)	16.698	12.907
TOTAL	57.007	48.970
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	11.368	9.072
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.032	0.162
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	11.400	9.234
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	7.429	5.733
(c) Trade receivables	27.160	20.377
(d) Cash and cash equivalents	0.896	10.451
(e) Short-term loans and advances	10.122	3.175
(f) Other current assets	0.000	0.000
Total Current Assets	45.607	39.736
TOTAL	57.007	48.970

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.500
2] Share Application Money		0.000
3] Reserves & Surplus		36.814
4] (Accumulated Losses)		0.000
NETWORTH		37.314
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.596
TOTAL		37.910
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		9.602
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.854
	Sundry Debtors	36.087
	Cash & Bank Balances	1.616
	Other Current Assets	0.000
	Loans & Advances	2.536
Total Current Assets		45.093
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	12.437
	Other Current Liabilities	1.988
	Provisions	2.360
Total Current Liabilities		16.785
Net Current Assets		28.308
MISCELLANEOUS EXPENSES		0.000
TOTAL		37.910

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	105.849	76.341	74.313
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	95.861	67.694	65.254
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		9.988	8.647	9.059
Less/ Add	DEPRECIATION/ AMORTISATION		1.199	1.134	1.076
	PROFIT BEFORE TAX		8.789	7.513	7.983
Less	TAX		2.840	2.308	2.473
	PROFIT AFTER TAX		5.949	5.205	5.510
	IMPORTS		NA	14.812	12.251
	Earnings Per Share (Rs.)		118.98	103.80	110.19

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.62	6.82	7.41
Return on Total Assets (PBT/Total Assets}	(%)	15.42	15.34	14.60
Return on Investment (ROI) (PBT/Networth)		0.22	0.21	0.21
Debt Equity Ratio (Total Debt/Networth)		0.03	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.73	3.08	2.69

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	Yes
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]	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

The performance of the company has been satisfactory. The company has registered an increase in the revenue. The overall financial performance of the company has shown signs of upward movement. The company has managed to stabilise its performance in the recessionary period. The Management is confident that it shall continue to post better results in the coming future.

FIXED ASSETS:

v Office Premises

v Air Conditioner

v Computers

v Furniture and Fixture

v Electrical Installation

v Office Equipments

v Vehicles

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. 59.80
UK Pound	1	Rs. 91.03
Euro	1	Rs. 78.52

INFORMATION DETAILS

Report Prepared by :

BVA

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	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.