MIRA INFORM REPORT

Report Date :

26.07.2013

IDENTIFICATION DETAILS

Name :	KAMTRESS AUTOMATION SYSTEMS PRIVATE LIMITED
Formerly Known As :	KAMTRES AGENCIES PRIVATE LIMITED
Registered Office :	7, Konankunte Industrial Area, Anjanapuram Main Road, Near Harinagar Cross, Bangalore – 560062, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	21.08.1989
Com. Reg. No.:	08-10324
Capital Investment / Paid-up Capital :	Rs. 1.500 Millions
CIN No.: [Company Identification No.]	U74140KA1989PTC010324
TAN No.: [Tax Deduction & Collection Account No.]	BLRK00689D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture and Exporter of All Types of Electroplating Plants and Equipment.
No. of Employees :	40 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 36000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profitability of the company appears to be low. 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 dealing 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

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 :	Mrs. Lakshmi Chandrashekar
Designation :	Director
Contact No.:	91-9342164976
Date :	24.07.2013

LOCATIONS

Registered Office / Factory :	7, Konankunte Industrial Area, Anjanapuram Main Road, Near Harinagar Cross, Bangalore – 560062, Karnataka, India
Tel. No.:	91-80-26320810/ 28436608/ 28436708
Mobile No.:	91-9342164976 (Mrs. Lakshmi)
Fax No.:	91-80-28436608/ 28436708
E-Mail :	info@kamtress.com sr@kamtress.com vckmurthy@gmail.com lakshmi@kamtress.com
Website :	http://www.kamtres.co.in http://www.kamtress.in
Area :	5000 sq. ft.
Location :	Owned

DIRECTORS

As on: 28.09.2012

Name :	Mr. Saligram Rajaram Rao Chandrashekar
Designation :	Managing Director
Address :	C 302, Samrat Apartments, 39^th Cross East and D MN. 9^th Block Jayanagar, Bangalore – 560069, Karnataka, India
Date of Birth/Age :	14.12.1961
Date of Appointment :	21.10.1990
DIN No.:	01390616
Name :	Mrs. Lakshmi Chandrashekar Saligram
Designation :	Director
Address :	C 302, Samrat Apartments, 39^th Cross East and D MN. 9^th Block Jayanagar, Bangalore – 560069, Karnataka, India
Date of Birth/Age :	10.01.1965
Date of Appointment :	25.09.1998
DIN No.:	01109231

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.09.2012

Names of Shareholders	No. of Shares
Saligram Rajaram Rao Chandrashekar	90000
Lakshmi Chandrashekar Saligram	60000
Total	150000

Equity Share Break up (Percentage of Total Equity)

As on: 28.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacture and Exporter of All Types of Electroplating Plants and Equipment.
Products :	· Anodising Plants · Electro Polishing Plants · Exhaust Systems · Effluent Treatment plants (ETP) · Exhaust Fans
Exports :
Products :	Electroplating Plant and Equipments
Countries :	Hong Kong
Imports :
Products :	Raw Material
Countries :	· Hong Kong · USA
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

40 (Approximately)

Bankers :

· State Bank of India, SSI Branch, Bangalore South, J. C. Industrial Area, 11^th K M Off , Karnataka Road, Bangalore – 560062, West Bengal, India

· Punjab National Bank, Vokkaligara Sangha Building, 1^st Floor, Hudson Circle, Bangalore – 560002, Karnataka, India

· HDFC Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long term borrowing
Vehicle Loan	0.094	0.267
Bank overdraft	10.981	4.862
HDFC Bank Limited	0.445	0.960
Total	11.520	6.089

Banking Relations :	--
Auditors :
Name :	Venkates Babu P and Company Chartered Accountants
Address :	93, 2^nd Floor, 7^th Cross, 3^rd Main, Chnarajapet, Bangalore – 560018, Karnataka, India
Tel. No.:	91-80-26603521
Mobile No.:	91-9341249624
E-Mail :	vbabu_ca@yahoo.com
PAN No.:	ADRPB8053E

CAPITAL STRUCTURE

As on: 28.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs. 2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs. 1.500 Millions

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	1.500	1.500
(b) Reserves & Surplus	7.681	5.427
(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)	9.181	6.927
(3) Non-Current Liabilities
(a) long-term borrowings	12.189	8.167
(b) Deferred tax liabilities (Net)	0.708	0.542
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	2.826	1.831
Total Non-current Liabilities (3)	15.723	10.540
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	52.868	44.110
(c) Other current liabilities	13.991	17.189
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	66.859	61.299
TOTAL	91.763	78.766
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8.275	6.181
(ii) Intangible Assets	0.017	0.037
(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	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	8.292	6.218
(2) Current assets
(a) Current investments	0.002	0.002
(b) Inventories	24.402	14.684
(c) Trade receivables	43.786	50.377
(d) Cash and cash equivalents	5.469	2.196
(e) Short-term loans and advances	9.812	5.289
(f) Other current assets	0.000	0.000
Total Current Assets	83.471	72.548
TOTAL	91.763	78.766

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		1.500
2] Share Application Money		0.000
3] Reserves & Surplus		3.864
4] (Accumulated Losses)		0.000
NETWORTH		5.364
LOAN FUNDS
1] Secured Loans		1.824
2] Unsecured Loans		2.974
TOTAL BORROWING		4.798
DEFERRED TAX LIABILITIES		0.496
TOTAL		10.658
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.175
Capital work-in-progress		0.000
INVESTMENT		0.002
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.274
	Sundry Debtors	31.054
	Cash & Bank Balances	2.983
	Other Current Assets	0.000
	Loans & Advances	4.221
Total Current Assets		43.532
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	34.416
	Other Current Liabilities
	Provisions	3.295
Total Current Liabilities		38.051
Net Current Assets		5.481
MISCELLANEOUS EXPENSES		0.000
TOTAL		10.658

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Turnover	152.988	99.105
		Other Income	0.839	8.683
		TOTAL	153.827	107.788	76.492
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	105.499	74.929
	PROFIT BEFORE TAX		NA	2.289	1.563
Less	TAX		NA	0.726	0.521
	PROFIT AFTER TAX		2.255	1.563	1.042
	EARNINGS IN FOREIGN CURRENCY		0.059	0.002	0.069
	Earnings Per Share (Rs.)		15.03	10.42	6.94

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.47	1.46	1.36
Net Profit Margin (PBT/Sales)	(%)	NA	2.31	0.00
Return on Total Assets (PBT/Total Assets}	(%)	NA	2.91	3.21
Return on Investment (ROI) (PBT/Networth)		NA	0.33	0.29
Debt Equity Ratio (Total Debt/Networth)		1.32	1.18	0.90
Current Ratio (Current Asset/Current Liability)		1.25	1.18	1.14

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 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	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

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90192453	07/09/2011 *	24,000,000.00	PUNJAB NATIONAL BANK	Vokkaligara Sangha Bldg, 1st Floor, Hudson Circle , Bangalore, Karnataka - 560002, India	B20986303
2	90194366	19/10/2001	1,400,000.00	PUNJAB NATIONAL BANK	Bangalore City Branch, Hudson Circle, Bangalore, Karnataka - 560027, India	-
3	90191954	26/05/1998	2,200,000.00	STATE BANK OF INDIA	SSI Branch; Bangalore South, J. C. Industrial Are A; 11th K. M. Off Kanakapurar, Bangalore, Karnataka - 560062, India	-
4	90191845	26/08/1997	2,555,000.00	KARNATAKA STATE FINANCIAL CORPORATION	No. 1/1; Thimmaiah Road, Bangalore, Karnataka - 56 0052, India	-

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
Long term borrowing
From Directors	0.669	2.078
Total	0.669	2.078

FINANCIAL RESULTS

During the year, company has achieved a record turnover of Rs. 153.000 Millions and left distributable profit of Rs. 2.254 Millions which is 45% more than the previous year. The management of the company is having good relationship with its customers and looking for better market opportunity and expected overall improvement of the business is future.

FIXED ASSETS:

· Land

· Building

· Machinery

· Office Equipment

· Furniture

· Vehicles

· Computer

· Software

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. 58.94
UK Pound	1	Rs. 90.48
Euro	1	Rs. 77.87

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.