MIRA INFORM REPORT

Report Date :

14.03.2013

IDENTIFICATION DETAILS

Name :	DIAMOND INFOSYSTEMS LIMITED
Registered Office :	Essen Info Park5/9-10, BIDC Gorwa, Baroda - 390016, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	09.03.1993
Com. Reg. No.:	019094
Capital Investment / Paid-up Capital :	Rs.58.850 Millions
CIN No.: [Company Identification No.]	L24110GJ1993PLC019094
Legal Form :	A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange.
Line of Business :	Providing information technology services.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 680000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profit margin of the company is low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions. Note: The company is not traded on BSE in the last 30 days.

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 DENIED BY

Name :	Mr. Rajesh Kaka
Designation :	Accountant
Contact No.:	91-265-2284328
Date :	13.03.2013

LOCATIONS

Registered Office/ Corporate Office :	Essen Info Park5/9-10, BIDC Gorwa, Baroda – 390016, Gujarat, India
Tel. No.:	91-265-2283969/ 2284328/ 3931234
Fax No.:	91-265-2284328
E-Mail :	esha.parmar@diinsy.com
Website :	http://diinsy.com
Regional Office :	Located at · Mumbai · Chennai · Delhi · Jaipur · Indore · Ahmedabad
Overseas Office :	C/o Enterprise Intelligent Systems Inc. 2100, Park lake DrivEmail NE Suite E Atlanta, GA 30345, USA.
Tel. No.:	11-678-281-0063
Fax No.:	11-770-457-2234

DIRECTORS

As on: 31.03.2012

Name :	Mr. Suresh Naraian Bhatnagar
Designation :	Chairman
Name :	Mr. Amit Suresh Bhatnagar
Designation :	Vice Chairman
Name :	Mr. Sumit Suresh Bhatnagar
Designation :	Managing Director
Name :	Mr. Gajendra Narayan Verma
Designation :	Director
Name :	Mr. Prakash Sinha
Designation :	Director
Name :	Mr. Triloki Narayan Bhatnagar
Designation :	Director
Name :	Mr. N.N. Bhatnagar
Designation :	Director

KEY EXECUTIVES

AUDIT COMMITTEE:	Mr. Prakash Sinha (Chairman) Mr. Triloki Bhatnagar Mr. G N Verma
INVESTOR GRIEVANCES COMMITTEE:	Mr. G N Verma (Chairman) Mr. Triloki Bhatnagar Mr. Prakash Sinha

SHAREHOLDING PATTERN

As on: 31.12.2012

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	175750	2.99
Bodies Corporate	2476745	42.09
Sub Total	2652495	45.07
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	2652495	45.07
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	725000	12.32
Sub Total	725000	12.32
(2) Non-Institutions
Bodies Corporate	900	0.02
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	99824	1.70
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Millions	2406781	40.90
Sub Total	2507505	42.61
Total Public shareholding (B)	3232505	54.93
Total (A)+(B)	5885000	100.00
I Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	5885000	0.00

Shareholding belonging to the category “Promoter and Promoter Group”

		Details of Shares held		Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
Sl.No	Name of the Shareholder	No. of Shares held	As a % of grand total (A)+(B)+(C)
1	Diamond Projects (P) Limited	23,07,845	39.22	39.22
2	SN Bhatnagar	1,75,750	2.99	2.99
3	Sumit Associates	1,68,900	2.87	2.87
	Total	26,52,495	45.07	45.07

Shareholding belonging to the category “Public” and holding more than 1% of the Total No. of Shares

Sl. No.	Name of the Shareholder	No. of Shares held	Shares as % of Total No. of Shares	Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
1	Administrator of the Specified	725000	12.32	12.32
2	Suresh N Bhatnagar	628141	10.67	10.67
3	Amit Suresh	537212	9.13	9.13
4	Sumit Suresh	498323	8.47	8.47
5	Madhurilata Bhatnagar	326905	5.55	5.55
6	Richa Bhatnagar	173200	2.94	2.94
7	Mona Bhatnagar	173200	2.94	2.94
	Total	3061981	52.03	52.03

Shareholding belonging to the category “Public” and holding more than 5% of the Total No. of Shares

Sl. No.	Name(s) of the shareholder(s) and the Persons Acting in Concert (PAC) with them	No. of Shares	Shares as % of Total No. of Shares	Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
1	Administrator of the Specified	725000	12.32	0.00
2	Suresh N Bhatnagar	628141	10.67	0.00
3	Amit Suresh	537212	9.13	0.00
4	Sumit Suresh	498323	8.47	0.00
5	Madhurilata Bhatnagar	326905	5.55	0.00
	Total	2715581	46.14	46.14

BUSINESS DETAILS

Line of Business :

Providing information technology services.

GENERAL INFORMATION

No. of Employees :

Information declined by the management.

Bankers :

· Corporation Bank

· Citibank

· Allahabad Bank

· HDFC Bank

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2012

As on

31.03.2011

Long-term borrowings

Other loans and advances (Car Loan)

0.233

0.604

Short-term borrowings

0

0

Loans repayable on demand

5.670

0.000

Total

5.903

0.604

Long-term borrowings

Notes:

1 Details of bonds / debentures issued by the Company: N.A.

(ii) The Company is eligible to reissue the (state type) bonds / debentures that have been redeemed. As at 31 March,

2012,_number of bonds / debentures of ~ _each (As at 31 March, 2011_bonds / debentures of ~ _each)

were available for reissuance. N.A.

(iii) Details of terms of repayment for the other long-term borrowings and security provided in respect of the secured other long-term borrowings:

Particulars	Terms of repayment and security	31 March, 2012
		Secured	Unsecured
Term loans from banks:	Secured Against
Kotak Mahindra Bank Ltd		2.33	0.00
	Assets
Total – Term loans from banks		2.33	0.00

Details of long-term borrowings guaranteed by some of the directors or others: N.A

The Company has defaulted in repayment of loans and interest in respect of the following: N.A.

Short-term borrowings

Details of security for the secured short-term borrowings:

Particulars		Nature of security	31 March, 2012
Loans repayable on demand
from banks:
Corporation Bank		Book Debts	56.70
Total – from banks			56.70
Other loans and advances:			0.00
	Total		0.00

Banking Relations :	--
Statutory Auditor :
Name :	Vijay Tewar and Company Chartered Accountants
Address :	315-316, Panorama, R.C. Dutt Road, Vadodara – 390007, Gujarat, India
Secretarial Audit :	K H Associates
Company in which KMP / Relatives of KMP can exercise significant influence :	· Diamond Projects Limited · Diamond Power Infrastructure Limited · Diamond Power Transformors Limited

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions
100000	Preference Shares	Rs.100/- each	Rs. 10.000 Millions
	Total		Rs. 110.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5885000	Equity Shares	Rs.10/- each	Rs.58.850 Millions

Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting

(Rs. In Millions)

Particulars	Number of shares	Amount
Outstanding at the Beginning of	5885000	58.850
Outstanding at the End of the Year	5885000	58.850

Details of shares held by each shareholder holding more than 5% shares:

Class of shares / Name of shareholder	As at 31 March, 2012
	Number of	% holding
Diamond Projects Limited	2307845	39.22
Unit Trust of India	725000	12.32
Suresh N. Bhatnagar	628141	10.67
Amit Suresh Bhatnagar	537212	9.13
Sumit Suresh Bhatnagar	498323	8.47
Madhurilata Bhatnagar	326905	5.55

Aggregate number and class of shares allotted as fully paid up pursuant to contract(s) without payment being

Details of calls unpaid – N.A.

Details of forfeited shares – N.A.

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		58.850	58.850	74.967
2] Share Application Money		16.118	16.118	0.000
3] Reserves & Surplus		96.760	70.286	60.395
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		171.728	145.254	135.362
LOAN FUNDS
1] Secured Loans		5.903	0.604	0.941
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		5.903	0.604	0.941
DEFERRED TAX LIABILITIES		0.187	0.001	0.000
TOTAL		177.818	145.859	136.303
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		32.699	32.959	33.560
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		82.926	34.753	34.753
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.753	0.000	0.000
	Sundry Debtors	479.181	558.901	441.663
	Cash & Bank Balances	1.770	0.824	1.669
	Other Current Assets	0.447	0.000	0.000
	Loans & Advances	25.974	28.397	30.234
Total Current Assets		508.125	588.122	473.566
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	433.816	500.019	398.839
	Other Current Liabilities	4.162	8.468	0.000
	Provisions	7.954	1.488	6.737
Total Current Liabilities		445.932	509.975	405.576
Net Current Assets		62.193	78.147	67.990
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		177.818	145.859	136.303

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	4186.060	3137.051	2286.419
		Other Income	9.106	4.567	2.788
		TOTAL (A)	4195.166	3141.618	2289.207
Less	EXPENSES
		Cost of materials consumed	4136.954	3114.208	2277.082
		Changes in inventories of finished goods, work-inprogress and stock-in-trade	(0.753)	0.000
		Employee benefits expense	15.064	8.500
		Other expenses	5.021	5.243
		Extraordinary items	0.000	(0.496)
		TOTAL (B)	4156.286	3127.455	2277.082
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I		38.880	14.163	12.125
Less	FINANCIAL EXPENSES (D)		0.399	0.077	0.049
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		38.481	14.086	12.076
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.821	0.795	0.734
	PROFIT BEFORE TAX (E-F) (G)		37.661	13.291	11.342
Less	TAX (H)		11.187	3.401	3.400
	PROFIT AFTER TAX (G-H) (I)		26.474	9.890	7.942
	Earnings Per Share (Rs.)		4.50	1.68	NA

QUARTERLY RESULTS

PARTICULARS	30.06.2012	30.09.2012	30.12.2012
	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	514.600	556.100	561.600
Total Expenditure	510.000	550.200	557.500
PBIDT (Excl OI)	4.600	5.900	4.100
Other Income	0.200	0.200	1.500
Operating Profit	4.700	6.100	5.600
Interest	0.200	0.300	0.500
Exceptional Items	0.000	0.000	0.000
PBDT	4.500	5.800	5.200
Depreciation	0.200	0.200	0.200
Profit Before Tax	4.200	5.600	4.900
Tax	2.000	1.500	1.000
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	2.200	4.100	3.900
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	2.200	4.100	3.900

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.63	0.31	0.35
Net Profit Margin (PBT/Sales)	(%)	0.90	0.42	0.50
Return on Total Assets (PBT/Total Assets}	(%)	6.96	2.14	2.24
Return on Investment (ROI) (PBT/Networth)		0.22	0.09	0.08
Debt Equity Ratio (Total Debt/Networth)		0.03	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.14	1.15	1.17

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS:

(Rs. In Millions)

PARTICULARS	31.03.2012	31.03.2011	31.03.2010
Acceptance	433.816	500.019	398.839
Total	433.816	500.019	398.839

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	No
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	Yes
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	No
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 PROSPECTS:

The Company sustains a relentless competitive focus as the economic climate is expected to remain challenging. The Company will continue to deploy resources in a focused manner to secure stakeholder interest and pursue growth. The future prospectus of the industry is grim thus it is very important for them to sustain and venture into new and better areas within the IT industry to survive and make the entity profitable. Diamond Infosystems Limited would be soon opening an office in Dubai followed by South Africa and New Zealand to manage its business operations abroad.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Industry structure and developments:

Changing economic and business conditions and rapid technological innovation are creating an increasingly competitive market environment that is driving corporations to transform their operations. Consumers of products and services are increasingly demanding accelerated delivery times and lower prices. Companies are focusing on

their core competencies and using outsourced technology service providers to adequately address these needs. The role of technology has evolved from supporting corporations to transforming their business. There is an increasing need for highly skilled technology professionals in the markets in which they operate. At the same time, corporations are reluctant to expand their internal IT departments and increase costs. These factors have increased the reliance of corporations on their outsourced technology service providers and are expected to continue to drive future growth for outsourced technology services.

1. Increasing trend towards offshore technology services

Outsourcing the development, management and ongoing maintenance of technology platforms and solutions has become increasingly important to companies.

2. The India advantage

India is widely recognized as the premier destination for offshore technology services. According to the NASSCOM Strategic Review 2011, IT services exports (excluding exports relating to business process outsourcing (BPO), hardware, engineering design and product development) from India are estimated to grow by

22.7% in fiscal 2011, to record revenues of US$ 33.5 billion.

3. Evolution of technology outsourcing

The realm of technology outsourcing is changing. In an environment of rapid technological advancement, globalization and regulatory changes, companies are looking at outsourcing approaches that require their technology service providers to develop specialized systems, processes and solutions along with cost-effective delivery capabilities.

4. Their end-to-end solutions

They complement their industry expertise with specialized support for their clients. They also leverage the expertise of their various Centers of Excellence and their software engineering group and technology lab to create customized solutions for their clients. In addition, they continually evaluate and train their professionals in new technologies and methodologies. Finally, they ensure the integrity of their service delivery by utilizing a scalable and secure infrastructure.

Outlook, risks and concerns

This section contains forward-looking statements that involve risks and uncertainties. Their actual results could differ materially from those anticipated in these statements as a result of certain factors.

The following lists their outlook, risks and concerns:

Their revenues and expenses are difficult to predict and can vary significantly from period to period, which could cause their share price to decline. They may not be able to sustain their previous profit margins or levels of profitability.

Their revenues are highly dependent on clients primarily located in the U.S. and Europe, as well as in certain industries, and an economic slowdown or other factors that affect the economic health of the U.S., Europe or these industries may affect their business.

Currency fluctuations may affect the results of their operations.

Their success depends largely upon their highly skilled technology professionals and their ability to hire, attract, motivate, retain and train their personnel.

they may face difficulties in providing end-to-end business solutions for their clients, which could lead to clients discontinuing their work with them. This in turn could harm their business.

Intense competition in the market for technology services could affect their cost advantages, which could reduce their share of business from clients and may decrease their revenues.

Their revenues are highly dependent upon a small number of clients, and the loss of any one of their major clients could significantly impact their business.

Legislation in certain countries in which they operate, including the United States and the United Kingdom, may restrict companies in those countries from outsourcing work to them.

Compliance with new and changing corporate governance and public disclosure requirements adds uncertainty to their compliance policies and increases their costs of compliance.

their failure to complete fixed-price, fixed-timeframe contracts or transaction-based pricing contracts within the budget and on time, may negatively affect their profitability.

Their client contracts can be terminated without cause and with little or no notice or penalty. This could negatively impact their revenues and profitability.

Their engagements with customers are singular in nature and do not necessarily provide for subsequent engagements.

Their client contracts are often conditioned upon their performance, which, if unsatisfactory, may result in less revenue than previously anticipated.

Some of their long-term client contracts contain benchmarking provisions which, if triggered, could result in lower future revenues and profitability under the contract.

Their business will suffer if they fail to anticipate and develop new services and enhance existing services in order to keep pace with rapid changes in technology and in the industries on which they focus.

Disruptions in telecommunications, system failures or virus attacks could harm their ability to execute their GDM, which could result in client dissatisfaction and a reduction of their revenues.

they may be liable to their clients for damages caused by disclosure of confidential information, system failures, errors or unsatisfactory performance of services.

Their increasing work with governmental agencies may expose them to additional risks.

They are investing substantial cash assets in new facilities and physical infrastructure, and their profitability could be reduced if their business does not grow proportionately.

They may be unable to recoup their investment costs to develop their software products.

Their insiders who are significant shareholders may control the election of their Board and may have interests that conflict with those of their other shareholders or holders of their ADSs.

They may engage in acquisitions, strategic investments, strategic partnerships or alliances or other ventures that may or may not be successful.

Their net income would decrease if the Government of India reduces or withdraws tax benefits and other incentives it provides to them or when their tax holidays expire or terminate.

In the event that the Government of India or the governent of another country changes its tax policies in a manner that is adverse to them, their tax expense may materially increase, reducing their profitability.

They operate in jurisdictions that impose transfer pricing and other tax-related regulations on them, and any failure to comply could materially and adversely affect their profitability.

Wage pressures in India and the hiring of employees outside India may prevent them from sustaining their competitive advantage and may reduce their profit margins.

Terrorist attacks or a war could adversely affect their business, results of operations and financial condition.

The markets in which they operate are subject to the risk of earthquakes, floods, tsunamis and other natural and manmade disasters.

Changes in immigration laws may affect their ability to compete and provide services to their clients in various countries. This could hamper their growth and may have an impact on their revenues.

Their ability to acquire companies organized outside India depends on the approval of the Government of India and / or the Reserve Bank of India, and failure to obtain this approval could negatively impact their business.

UNAUDITED FINANCIAL RESULT FOR QUARTER ON 30.09.2012

(Rs in Millions)

Particulars	Quarter Ended on 30.09.2012	Quarter Ended on 30.06.2012	for half year ended Ended on 30.09.2012
	[Unaudited]	[Unaudited]	[Unaudited]
Net sales/income from Operation	556.063	514.578	1070.641
Total Income	556.063	514.578	1070.641
Expenditure
Increase decrease in stock trade		-	-
Consumption of Raw material	-	-	-
Purchase of Traded Goods	544.525	504.736	1049.261
Employees Cost	4.519	4.330	8.849
Depreciation	0.225	0.225	0.450
other Expenditures	1.117	0.965	2.082
Total	550.386	510.256	1060.642
Profit from Operation before Other Income, Interest and Exceptional Items	5.677	4.322	9.999
Other Incomes	0.176	0.154	0.330
Profit before Interest and Exceptional Items	5.853	4.476	10.329
Interest	0.259	0.242
Profit after Interest but before Exceptional Items	5.594	4.234	9.828
Exceptional Items	-	-	-
Profit/Loss from Ordinary Activities before Tax	5.594	4.234	9.828
fax Expenses	1.500	2.000	3.500
Del erred tax	-	-
Net Profit / Loss from Ordinary Activities after Tax	4.094	2.234	6.328
Extraordinary Item	-	-	-
Net Profit / Loss for the period	4.094	2.234	6.328
Share of Profit/(Loss) of Associates
Minority Interest
Net Profit /Loss after Taxes .Minority Interest and Shares of Profit / Loss of Associates
Paid-up- Equity share capital (Face Value of the Share shall be indicated)	58.850	58.850	58.850
Reserve excluding Revaluation Reserves as per balance Sheet of Previous accounting year
Earning Per Shares! Before extraordinary Item (of Rs 107-each )( not Annualized ): a) Basic b) Diluted	0.07	004	0.11
Earning Per Shares ( After extraordinary Item ) of Rs 10/-each 11 not Annualized ): a) Basic b) Diluted	007	004	0.11
Particular of Shareholding
Public Shareholding
No. of Shares	8.10	8.10	8.10
Percentage of Shareholding	13 76	13 76	14.76
Promoter and Promoters group Shareholding
a| Pledged /Encumbered			-
Number of Shares	5.075	5.075	5.075
Percentage of Shares as a % of the Total Shareholding of promoter group)	-	-	-
Percentage of Shares ( as of % the total share capital of the company)	8.624	8.624	8.624
b) Non -encumbered			-
Number of Shares	-	-
Percentage of Share (as a % of the Total Shareholding of promoter Group)	-	-	-
Percentage of Shares ( as of % the total share capital of the company)	-	-	-

Investor Complaints	3 Months Ended on 31.03.2012
Pending at the beginning of the Quarter	-
received during the Quarter	0
Disposed of Dunne the Quarter	0
Remaining Unresolved at the End of the Quarter	-

Notes:

1. The above Unaudited Financial Results have been reviewed by Statutory Auditor and the Audit Committee of the Board of Directors and the same have been taken on record at the Board Meeting held on 09.11.2012

2. The Company is presently doing business in information technology business.

3. Sales includes sales of all divisions of the Company

FIXED ASSETS:

· Buildings

· Assets under lease

· Furniture and Fixtures

· Assets under lease

· Vehicles

· Office Equipment

· Computers

· Electrical Installations

· EIS Division

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.54.11
UK Pound	1	Rs.80.84
Euro	1	Rs.70.55

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		42

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.