MIRA INFORM REPORT

Report Date :

22.10.2013

IDENTIFICATION DETAILS

Name :	TRUMPF (INDIA) PRIVATE LIMITED
Registered Office :	Raisoni Industrial Park, S. No. 276, Hissa No. 1, Village Mann, Taluka Mulshi, Pune – 411057, Maharashtra
Country :	India
Financials (as on) :	30.06.2011
Date of Incorporation :	06.07.2006
Com. Reg. No.:	132578
Capital Investment / Paid-up Capital :	Rs. 170.070 Millions
CIN No.: [Company Identification No.]	U29199PN2006FTC132578
TAN No.: [Tax Deduction & Collection Account No.]	PNET06905D
PAN No.: [Permanent Account No.]	AACCT8008J
Legal Form :	Private Limited Liability Company.
Line of Business :	Trader of Laser Cutting Machines and Welding Machines.
No. of Employees :	Not Available

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

INDIAN ECONOMIC OVERVIEW

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the traqde deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

LOCATIONS

Registered Office :	Raisoni Industrial Park, S. No. 276, Hissa No. 1, Village Mann, Taluka Mulshi, Pune – 411057, Maharashtra, India
Tel. No.:	91-20-66759800
Fax No.:	91-20-66759899
E-Mail :	Soumitra.joshi@in.trumpf.com accounts@in.trumpf.com
Website :	www.in.trumpf.com

DIRECTORS

AS ON 15.12.2010

Name :	Mr. Joerg Kienast
Designation :	Director
Address :	Eichendorff Str. 2/4 Ditzingen, Germany 71254
Date of Birth/Age :	23.08.1955
Date of Appointment :	06.07.2006

Name :	Mr. Erwin Lengauer
Designation :	Director
Address :	Flat No. B-302 Hallmark Society, Koregaon Park, Pune – 411001, Maharashtra, India
Date of Birth/Age :	07.05.1960
Date of Appointment :	09.09.2009

Name :	Mr. Soumitra Joshi
Designation :	Managing Director
Address :	Flat No. 601, Sapodillla Marigold Premises, Kalyaninagar, Pune – 411006, Maharashtra, India
Date of Birth/Age :	07.07.1973
Date of Appointment :	06.07.2006

Name :	Mr. Scott Simpson
Designation :	Managing Director
Address :	Flat No. B-302 Hallmark Society, Koregaon Park, Pune – 411001, Maharashtra, India
Date of Birth/Age :	07.05.1960
Date of Appointment :	06.07.2006

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 15.12.2010

Names of Shareholders	No. of Shares
Trumpf International Beteiligungs Gmbh, Germany	1700690
Trumpf Finance Gmbh, Germany	10
Total	1700700

AS ON 30.12.2010

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Laser Cutting Machines and Welding Machines.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

UNSECURED LOAN	Rs. In Millions 30.06.2011	Rs. In Millions 30.06.2010
Other Debt Unsecured	133.666	98.161
TOTAL	133.666	98.161

Banking Relations :	--
Auditors :
Name :	Vinay R Gupta and Associates Chartered Accountant
Address :	13 central lane babar Road, New Delhi – 110001, India
Holding Company :	TRUMPF International Beteiligungs-GmbH, Germany
Group Company :	· TRUMPF Laser GmbH + Co. KG · TRUMPF Maschinen Austria GmbH + Co. KG · TRUMPF Werkzeumaschinen GmbH + Co. KG · TRUMPF China (Hong Kong) Ltd. · TRUMPF Corporation · TRUMPF GmbH + Co. KG. · TRUMPF Grusch AG Elektrowerkzeuge · TRUMPF Laser Marking System AG · TRUMPF Laser und Systemtechnik GmbH · TRUMPF Ltd · TRUMPF Maschinen AG · TRUMPF Pte. Ltd. · TRUMPF Werk. Deu. Ver. Ser. GmbH Co. KG · TRUMPF Inc.

CAPITAL STRUCTURE

AS ON 30.06.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1750000	Equity Shares	Rs.100/- each	Rs. 175.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1700700	Equity Shares	Rs.100/- each	Rs. 170.070 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		30.06.2011	30.06.2010	30.06.2009
SHAREHOLDERS FUNDS
1] Share Capital		170.070	170.070	170.070
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(103.077)	(91.848)	(71.710)
NETWORTH		66.993	78.222	98.360
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		133.666	98.161	118.196
TOTAL BORROWING		133.666	98.161	118.196
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		200.659	176.383	216.556
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		132.608	121.507	159.122
Capital work-in-progress		0.000	2.590	3.197
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		4.418	2.665	3.522
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	101.245	20.967	15.312
	Sundry Debtors	50.913	49.351	18.357
	Cash & Bank Balances	0.151	0.137	0.241
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	52.972	42.179	41.371
Total Current Assets		205.281	112.634	75.281
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	107.356	44.244	6.448
	Other Current Liabilities	28.564	14.443	14.841
	Provisions	5.728	4.326	3.277
Total Current Liabilities		141.648	63.013	24.566
Net Current Assets		63.633	49.621	50.715
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		200.659	176.383	216.556

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.06.2011	30.06.2010	30.06.2009
	SALES
		Service Income	13.496	9.982	6.823
		Commission Income	145.898	73.464	55.513
		Sale of Spares	109.479	101.182	3.007
		Other Income	6.268	18.842	3.465
		TOTAL	275.141	203.470	68.808
Less	EXPENSES
		TOTAL	262.261	195.648	119.401
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)		12.880	7.822	(50.593)
Less/ Add	DEPRECIATION/ AMORTISATION		25.805	26.908	27.649
	PROFIT BEFORE TAX		(12.925)	(19.086)	(78.242)
Less	TAX		(1.696)	1.051	(3.705)
	PROFIT AFTER TAX		(11.229)	(20.137)	(74.537)
	EARNINGS IN FOREIGN CURRENCY
		Commission and Service Income	159.290	75.170	55.756
		Other Earnings		8.050	5.366
	TOTAL EARNINGS		159.290	83.220	61.122
	IMPORTS
		Stores & Spares	NA	59.050	12.783
		Capital Goods	NA	30.627	47.386
	TOTAL IMPORTS		NA	89.677	60.169

KEY RATIOS

PARTICULARS		30.06.2011	30.06.2010	30.06.2009
PAT / Total Income	(%)	(4.08)	(9.89)	(108.32)
Net Profit Margin (PBT/Sales)	(%)	(4.80)	(10.33)	(119.74)
Return on Total Assets (PBT/Total Assets}	(%)	(3.82)	(8.15)	(33.37)
Return on Investment (ROI) (PBT/Networth)		(0.19)	(0.24)	(0.79)
Debt Equity Ratio (Total Liability/Networth)		4.10	2.06	1.45
Current Ratio (Current Asset/Current Liability)		1.44	1.78	3.06

LOCAL AGENCY FURTHER INFORMATION

Note – The registered office address of the company has been shifted from 102 Garden View, Dadabhai Road, off. J.P. Road, Andheri (W), Mumbai-400058, Maharashtra, India to present address w.e.f. 22.07.2008

AS PER WEBSITE

COMPANY PROFILE

Subject Company is subsidiary of World-Wide TRUMPF Group. The Indian subsidiary is primarily concerned with Sales and Service for the South Asian market. They place great emphasis in providing good ‘Customer Training' and ‘After Sales Service'.

In order to develop and upgrade the customers from time to time, a Solution Centre in Pune with the facilities of Laser, Pressbrake and Punching machines will assist to develop not only the existing customers, but also they will be able to provide the entire solution to the customer's requirement by manufacturing the product in the solution centre.

Press Release

TruDisk disk lasers bring down operating costs thanks to intelligent energy management // TRUMPF at Lasys June 12-14, 2012, Messe Stuttgart, Hall 4, Booth 4C51

06/12/2012

Ditzingen, June 12, 2012 – Whether for cutting, welding, remote welding or laser deposition welding, at Lasys 2012 you will be able to appreciate the TruDisk disk laser’s full range of applications as an industrial tool for series production. The solid-state laser will be demonstrating not only how flexibly it operates but also how sparing it is with resources. Its intelligent energy management – from beam generation and the production environment all the way to the power station – makes the TruDisk disk laser a real champion in reducing both energy consumption and operating costs.

It all starts with the pump source: Rather than the flashtubes of rod lasers in widespread use, disk lasers use efficient diodes to pump the laser light. Together with an optimized resonator design, resulting in optical-optical efficiencies of up to 70 percent, the system is capable of achieving overall beam source efficiencies of well over 30 percent. Compared to flashtube-pumped lasers, this can reduce electricity consumption by up to 90 percent.

From the resonator, the beam makes its way through the laser tool to the workpiece via components such as the fiber-optic cable, the control system and the focusing optics. Around ten percent of the energy applied is lost in these components. Calculations that only look at beam-source power consumption will often not factor in these losses. To come up with realistic consumption figures, TRUMPF always considers the laser power at the workpiece, which integrates the typical power losses. Laser system cooling is also a major factor. Here, the TruDisk makes energy savings with its efficient heat exchanger and integrated water management. Anyone looking to judge their energy consumption realistically should include the infrastructure and take actual power usage at full laser power at the workpiece as their basis for calculation. Doing this shows clearly that disk lasers are an extremely energy-efficient laser concept. But there’s more: The TruDisk’s integrated energy management senses when the laser has stood idle for a while and will put it in standby mode.

There are also gains to be had between the laser and the power station. The TruDisk disk laser’s unique electricity management system makes it possible to reduce reactive power as well as what are known as harmonics. This leads on the one hand to additional cost savings of up to 10 percent, and on the other to an improvement in grid voltage quality, which lets medium-voltage transformers operate more effectively.

All in all, this means TruDisk lasers offer comprehensive, compelling and unique energy management that not only saves on resources but also saves you money.

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.61.49
UK Pound	1	Rs.99.41
Euro	1	Rs.84.12

INFORMATION DETAILS

Report Prepared by :

NTH

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.