1. Summary Information

		Country	India
Company Name	DBM MARKETING (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Siddharth Dugar
Status	Satisfactory	Principal Name 2	Mr. Amit Singh Daga
		Registration #	55-159279
Street Address	14, Rani Jhansi Road, New Delhi – 110055, India
Established Date	14.02.2007	SIC Code	--
Telephone#	91-11-27020321	Business Style 1	Telemarketing
Fax #	Not Available	Business Style 2	--
Homepage	http://www.dbmindia.com	Product Name 1	--
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 2,543,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors – 100%	Banking	Yes Bank Limited
Public Limited Corp.	No	Business Period	6 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (44)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	55,643,000	Current Liabilities	18,483,000
Inventories	35,670,000	Long-term Liabilities	51,283,000
Fixed Assets	6,933,000	Other Liabilities	1,800,000
Deferred Assets	43,000	Total Liabilities	71,566,000
Invest& other Assets	0,000	Retained Earnings	24,180,000
		Net Worth	26,723,000
Total Assets	98,289,000	Total Liab. & Equity	98,289,000
Total Assets (Previous Year)	84,723,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	344,370,000	Net Profit	4,058,000
Sales(Previous yr)	421,379,000	Net Profit(Prev.yr)	6,830,000

MIRA INFORM REPORT

Report Date :

12.03.2013

IDENTIFICATION DETAILS

Name :	DBM MARKETING (INDIA) PRIVATE LIMITED
Registered Office :	14, Rani Jhansi Road, New Delhi – 110055
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.02.2007
Com. Reg. No.:	55-159279
Capital Investment / Paid-up Capital :	Rs. 2.543 Millions
CIN No.: [Company Identification No.]	U51909DL2007PTC159279
TAN No.: [Tax Deduction & Collection Account No.]	DELD09646A
PAN No.: [Permanent Account No.]	AACCD5472C
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of telemarketing all kinds of goods, product commodities and services.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 107000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears some dip in the turnover and profits during 2012. However, 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 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	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

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.

LOCATIONS

Registered Office :	14, Rani Jhansi Road, New Delhi – 110055, India
Tel. No.:	91-11-27020321
Fax No.:	Not Available
E-Mail :	guptavp@gmail.com
Website :	http://www.dbmindia.com
Corporate Office :	M-18, Old DLF Commercial Complex, Sector-14, Gurgaon - 122001, Haryana, India
Tel. No.:	91-124-4011911 (5 lines)
Fax No.:	91-124-4012945
E-Mail :	customercare@dbmindia.com
Manufacturing and Packing :	G-974, Phase-III, RIICO Industrial Area, Bhiwadi, Rajasthan, India
Tel. No.:	91-1493-223552

DIRECTORS

AS ON 29.09.2012

Name :	Mr. Amit Singh Daga
Designation :	Director
Address :	405, G.T. Road, North Hawrah, Hawrah - 711327, West Bengal, India
Date of Birth/Age :	12.12.1978
Date of Appointment :	14.02.2007
PAN No.:	ACKPD1858K
DIN No.:	01147047
Name :	Mr. Siddharth Dugar
Designation :	Director
Address :	58, Arihant Nagar, Punjabi Bagh, Delhi – 110026, India
Date of Birth/Age :	29.09.1988
Date of Appointment :	14.02.2007
PAN No.:	AJHPD2109F
DIN No.:	01147120

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

SHAREHOLDING DETAILS FILE ATTACHED

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 :

Subject is engaged in the business of telemarketing all kinds of goods, product commodities and services.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Ø HDFC Bank Limited

Ø ICICI Bank Limited

Ø Yes Bank Limited

Ø The Lakshmi Vilas Bank Limited

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
HDFC Bank ‐ Car Loan A/C	0.542	0.730
Total	0.542	0.730

Banking Relations :	--
Auditors :
Name :	V.P. Gupta and Company Chartered Accountants
Address :	288, Galib Apartment, Parwana Road , Pitam Pura, Delhi – 110034, India
Income-tax PAN of auditor or auditor's firm :	AAHFV6535E

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
300,000	Equity Shares	Rs. 10/- each	Rs. 3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
254,257	Equity Shares	Rs. 10/- each	Rs. 2.543 Millions

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		2.543	2.355	2.355
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		24.180	14.780	7.946
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		26.723	17.135	10.301
LOAN FUNDS
1] Secured Loans		0.542	0.730	0.900
2] Unsecured Loans		50.741	44.226	14.468
TOTAL BORROWING		51.283	44.956	15.368
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		78.006	62.091	25.669
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.933	1.799	2.233
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.043	0.058	0.023
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	35.670	26.304	7.959
	Sundry Debtors	41.385	34.656	20.474
	Cash & Bank Balances	7.159	15.522	5.291
	Other Current Assets	7.099	6.384	2.601
	Loans & Advances	0.000	0.000	0.049
Total Current Assets		91.313	82.866	36.374
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	17.033	17.318	10.259
	Other Current Liabilities	1.450	2.158	1.307
	Provisions	1.800	3.156	1.408
Total Current Liabilities		20.283	22.632	12.974
Net Current Assets		71.030	60.234	23.400
MISCELLANEOUS EXPENSES		0.000	0.000	0.013
TOTAL		78.006	62.091	25.669

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	344.370	421.379	114.702
		Other Income	2.736	3.159	2.149
		TOTAL (A)	347.106	424.538	116.851
Less	EXPENSES
		Purchase	314.835	397.808
		Employee Benefits Expense	7.505	7.833
		Other expenses	21.228	22.988
		Increase/Decrease in Stock	(9.366)	(18.346)
		TOTAL (B)	334.202	410.283	111.789
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		12.904	14.255
Less	FINANCIAL EXPENSES (D)		6.340	3.781
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6.564	10.474	5.062
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.692	0.522	0.487
	PROFIT BEFORE TAX (E-F) (G)		5.872	9.952	4.575
Less	TAX (H)		1.814	3.122	1.413
	PROFIT AFTER TAX (G-H) (I)		4.058	6.830	3.162
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		12.359	5.529	2.367
	BALANCE CARRIED TO THE B/S		16.417	12.359	5.529
	Earnings Per Share (Rs.)		15.96	29.00	13.43

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.17	1.61	2.71
Net Profit Margin (PBT/Sales)	(%)	1.71	2.36	3.99
Return on Total Assets (PBT/Total Assets}	(%)	5.98	11.75	11.85
Return on Investment (ROI) (PBT/Networth)		0.22	0.58	0.44
Debt Equity Ratio (Total Debt/Networth)		1.92	2.62	1.49
Current Ratio (Current Asset/Current Liability)		4.50	3.66	2.80

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

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
From Directors	1.050	0.300
From Share Holders	38.774	37.124
Inter Corporate deposits	10.917	6.802
Total	50.741	44.226

REVIEW OF OPERATION

During the year under consideration, the Company has earned a Profit of Rs.5.873 Millions. The Directors hope for the better results during the current year.

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. 54.29
UK Pound	1	Rs. 81.09
Euro	1	Rs. 70.61

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	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		44

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.