MIRA INFORM REPORT

Report Date :

10.09.2013

IDENTIFICATION DETAILS

Name :	SUPERTRON ELECTRONICS PRIVATE LIMITED (w.e.f. 12.10.2012)
Formerly Known As :	SUPERTRON ELECTRONICS LIMITED
Registered Office :	2, Coper Lane, Hare Street, Kolkata – 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	23.03.1993
Com. Reg. No.:	21-058211
Capital Investment / Paid-up Capital :	Rs. 84.945 Millions
CIN No.: [Company Identification No.]	U32109WB1993PLC058211
TAN No.: [Tax Deduction & Collection Account No.]	CALS06182B
PAN No.: [Permanent Account No.]	AADCS5171L
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Distributor of wide variety of IT products including Servers, Desktops, Laptops and Consumer Electronic Products.
No. of Employees :	500 (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 1570000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The company has shown a better growth in its sales turnover during 2012. Financial position appears to be decent. The ratings take into consideration the promoters capability marked by gradual improvement in the capital structure and its strong distribution channel and network. However, trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered 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 – 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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Fund based limits “BBB”
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	April, 2013

Rating Agency Name	ICRA
Rating	Fund based limits : “A2”
Rating Explanation	Strong degree of safety and low credit risk.
Date	April, 2013

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 (GENERAL DETAILS)

Name :	Mr. Hozeta
Designation :	Accountant
Contact No.:	91-79-26860474
Date :	04.09.2013

LOCATIONS

Registered Office :	2, Coper Lane, Hare Street, Kolkata – 700001, West Bengal, India
Tel. No. :	91- 33-22131221
Fax No. :	91- 33-22130366
E-Mail :	rajuchandak@supertronindia.com frontdesk@supertronindia.com
Website :	www.supertronindia.com
Branch 1 :	G-13, Akshat Avenue, Near Ramdevnagar Cross Road, Satellite, Ahmedabad – 380015, Gujarat, India
Branch / Satellite Office :	Also Located at v EAST Kolkata Siliguri Bhubaneswar Ranchi Guwahati Patna v WEST Ahmedabad Mumbai Nagpur Pune Surat Rajkot Goa Nasik v NORTH Bhopal Delhi Indore Ludhiana Chandigarh Jaipur Noida Dehradun Ghaziabad Lucknow Raipur Gurgaon Parwanoo v SOUTH Bangalore Chennai Hyderabad Kochi/Cochin Coimbatore Calicut Vishakhapatnam Madurai

DIRECTORS

As on 24.08.2012

Name :

Mr. Vibhor Agarwal

Designation :

Director

Address :

F-582, Sarita Vihar, New Delhi – 110044, India

Date of Birth/Age :

28.09.1969

Qualification :

B.COM

Date of Appointment :

24.03.2004

PAN No.:

AAWPA3878L

DIN No. :

00138809

Name :

Mr. Vishnu Kumar Bhandari

Designation :

Director

Address :

2C, Dover Road, Kolkata – 700019, West Bengal, India

Date of Birth/Age :

22.07.1959

Qualification :

B.COM

Date of Appointment :

23.03.1993

PAN No. :

AENPB2220G

DIN No. :

00176658

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U32109WB1993PTC058211	SUPERTRON ELECTRONICS PRIVATE LIMITED	Director	23/03/1993	23/03/1993	-	Active	NO
2	U51909WB1991PTC053055	SWARNIM ENGINEERING WORKS PRIVATE LIMITED	Director	12/08/1996	12/08/1996	-	Active	NO
3	U70101WB1985PTC038436	R G TRADERS PRIVATE LIMITED	Director	07/06/2003	07/06/2003	-	Active	NO
4	U65910WB1994PLC062149	IVORY FINVEST LTD	Director	02/12/2004	02/12/2004	-	Active	NO
5	U51909WB1994PTC063016	SUPERCOMP ELECTRONICS PRIVATE LIMITED	Director	06/06/2005	06/06/2005	-	Active	NO
6	U51109WB2005PTC101901	CLARITY COMMERCIAL PRIVATE LIMITED	Director	10/06/2008	10/06/2008	-	Amalgamated	NO
7	U51909WB2007PTC114438	PROGRESSIVE VINIMAY PRIVATE LIMITED	Additional director	13/10/2009	13/10/2009	-	Active	NO
8	U51109WB1968PTC027375	M K DISTRIBUTORS PRIVATE LIMITED	Director	13/11/2009	13/11/2009	-	Active	NO
9	U64200WB2010PTC146959	SUPERTRON TELECOMMUNICATIONS PRIVATE LIMITED	Director	07/05/2010	07/05/2010	-	Active	NO
10	U72900WB2011PTC166679	SUPERTRON INFOTECH PRIVATE LIMITED	Director	22/08/2011	22/08/2011	-	Active	NO

Name :

Mr. Deepak Bhandari

Designation :

Director

Address :

2C, Dover Road, Kolkata – 700019, West Bengal, India

Date of Birth/Age :

21.06.1974

Qualification :

B.COM

Date of Appointment :

10.04.2006

PAN No. :

AEIPB8309K

DIN No. :

00852720

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U65910WB1994PLC062149	IVORY FINVEST LIMITED	Director	02/12/2004	02/12/2004	-	Active	NO
2	U32109WB1993PTC058211	SUPERTRON ELECTRONICS PRIVATE LIMITED	Director	10/04/2006	10/04/2006	-	Active	NO
3	U51109WB1968PTC027375	M K DISTRIBUTORS PVT LTD	Director	13/11/2009	13/11/2009	-	Active	NO
4	U64200WB2010PTC146959	SUPERTRON TELECOMMUNICATIONS PRIVATE LIMITED	Director	07/05/2010	07/05/2010	-	Active	NO
5	U72900WB2011PTC166679	SUPERTRON INFOTECH PRIVATE LIMITED	Director	22/08/2011	22/08/2011	-	Active	NO

Name :

Mr. Nirmal Kumar Meharia

Designation :

Director

Address :

8, Kulipara Kashibati, P.O. Makhla, Hooghly – 712245, West Bengal, India

Date of Birth/Age :

25.12.1961

Date of Appointment :

03.07.2010

DIN No. :

03152656

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U32109WB1993PTC058211	SUPERTRON ELECTRONICS PRIVATE LIMITED	Director	03/07/2010	03/07/2010	-	Active	NO
2	U64200WB2010PTC146959	SUPERTRON TELECOMMUNICATIONS PRIVATE LIMITED	Director	03/07/2010	03/07/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Hozeta
Designation :	Accountant
Name :	Mr. Raju Chandak
Designation :	Secretary
Address :	50, Cotton Street, Kolkata – 700007, West Bengal, India
Date of Birth/Age :	06.01.1976
Date of Appointment :	17.07.2009
PAN No. :	ADJPC9919N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.08.2012

Names of Shareholders	No. of Shares
Vishnu Kumar Bhandari	980000
Nupur Bhandari	1000
Nirmala Devi Somani	500
Deepak Bhandari	760500
Shobha Bhandari	200500
Gayatri Devi Bhandari	13750
Swarnim Engg. Works Private Limited, India	528125
Madhur Bhandari	9375
Supercomp Electronics Private Limited, India	776250
Ivory Finvest Limited, India	958125
Raj Bhandari	250
Ruchir Bhandari	700250
Bhagwani Devi Bhandari	250
R G Traders Private Limited	702500
Vishnu Kumar Bhandari (HUF)	672750
M.K. Distributors Private Limited, India	802650
Progressive Vinimay Private Limited, India	1369750
Manohar Lal Bhandari	8000
Karmayogi Securities Private Limited, India	10000
Total	8494525

Allottees as on 28.09.2012

Names of Allottees	No. of Shares
Shivani Rahul Somani	100
Total	100

Allottees as on 18.02.2013

Names of Allottees	No. of Shares
Vishnu Kumar Bhandari	200000
Deepak Bhandari	6500
Supercomp Electronics Private Limited, India	100000
Ivory Finvest Limited, India	91875
R G Traders Private Limited	47500
Vishnu Kumar Bhandari (HUF)	180000
M.K. Distributors Private Limited, India	8350
Progressive Vinimay Private Limited, India	14250
Nupur Bhandari	20000
Total	668475

As on 24.08.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	58.00
Directors or relatives of Directors	42.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Distributor of wide variety of IT products including Servers, Desktops, Laptops and Consumer Electronic Products.
Brand Names :	· SUPERCOMP SOLITAIRE
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and End Users

No. of Employees :

500 (Approximately)

Bankers :

· State Bank of India, Commercial Branch, Kolkata, 24, Park Street, Kolkata - 700016, West Bengal, India

Oriental Bank of Commerce, Chowringhee Branch, 32, Chowringhee Road, Kolkata - 700071, West Bengal, India

Karnataka Bank Limited, Park Street, Kolkata Branch, West Bengal, India

ICICI Bank Limited, 2B, Gorky Terrace, In Front of Park Nursing Home, Kolkata - 700017, West Bengal, India

Facilities :

SECURED LOANS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from directors	4.000	4.900
Loans and advances from others	47.900	52.850
Total	51.900	57.750

Banking Relations :	--
Auditors :
Name :	Morev and Company Chartered Accountants
Address :	16-B, Robert Street, Kolkata-700012, West Bengal, India
PAN No. :	ADAPB6584F
Enterprises in which the Key Management Personnel and his relatives have substantial interest :	· Ivory Finvest Limited R. G. Traders Private Limited Swarnim Engineering Works Private Limited Supercomp Electronics Private Limited Supertron Telecommunications Private Limited M.K.Distributors Private Limited Progressive Vininmay Private Limited

CAPITAL STRUCTURE

After 24.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9163100	Equity Shares	Rs.10/- each	Rs. 91.631 Millions

As on 24.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8494525	Equity Shares	Rs.10/- each	Rs. 84.945 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	84.945	77.421
(b) Reserves & Surplus	307.839	225.346
(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)	392.784	302.767
(3) Non-Current Liabilities
(a) long-term borrowings	51.900	57.750
(b) Deferred tax liabilities (Net)	2.399	2.562
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	54.299	60.312
(4) Current Liabilities
(a) Short term borrowings	726.074	778.933
(b) Trade payables	1893.272	1544.450
(c) Other current liabilities	92.915	76.871
(d) Short-term provisions	11.641	9.035
Total Current Liabilities (4)	2723.902	2409.289
TOTAL	3170.985	2772.368
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	37.303	36.540
(ii) Intangible Assets	3.016	4.258
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.124	0.124
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	19.279	14.262
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	59.722	55.184
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	991.023	727.402
(c) Trade receivables	1508.741	1423.146
(d) Cash and cash equivalents	503.754	457.795
(e) Short-term loans and advances	107.745	108.841
(f) Other current assets	0.000	0.000
Total Current Assets	3111.263	2717.184
TOTAL	3170.985	2772.368

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		77.121
2] Share Application Money		0.000
3] Reserves & Surplus		163.766
4] (Accumulated Losses)		0.000
NETWORTH		240.887
LOAN FUNDS
1] Secured Loans		603.057
2] Unsecured Loans		123.350
TOTAL BORROWING		726.407
DEFERRED TAX LIABILITIES		0.000
OTHE LIABILITIES		3.183
TOTAL		970.477
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		39.121
Capital work-in-progress		0.000
INVESTMENT		0.084
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	511.333
	Sundry Debtors	1105.174
	Cash & Bank Balances	449.504
	Other Current Assets	0.000
	Loans & Advances	123.064
Total Current Assets		2189.075
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1216.705
	Other Current Liabilities	33.304
	Provisions	7.794
Total Current Liabilities		1257.803
Net Current Assets		931.272
MISCELLANEOUS EXPENSES		0.000
TOTAL		970.477

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income		10717.639	8921.873
		Other Income		7.244	5.291
		TOTAL (A)	11620.480	10724.883	8927.164
Less	EXPENSES
		TOTAL (B)	11374.580	10564.250	8803.589
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		245.900	160.633	123.575
Less	FINANCIAL EXPENSES (D)		143.742	58.820	29.972
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		102.158	101.813	93.603
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.613	3.365	3.035
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		98.545	98.448	90.568
Less	TAX (H)		33.688	33.268	31.272
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		64.857	65.180	59.296
	Expenses relating to prior period		--	--	0.086
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		125.111	74.430	63.184
	APPROPRIATIONS
		Proposed Dividend	4.247	3.871	3.856
		Tax on dividend Proposed	0.689	0.628	0.640
		Transfer to General Reserve	10.000	10.000	10.000
	BALANCE CARRIED TO THE B/S		175.032	125.111	107.898
	EARNINGS IN FOREIGN CURRENCY
		Sale of Goods	NA	36.224	0.000
	TOTAL EARNINGS		NA	36.224	0.000
	IMPORTS
		Finished Goods	NA	3225.492	2732.701
	TOTAL IMPORTS		NA	3225.492	2732.701
	Earnings / (Loss) Per Share (Rs.)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.56	0.61	0.66
Net Profit Margin (PBT/Sales)	(%)	NA	0.92	1.02
Return on Total Assets (PBT/Total Assets}	(%)	3.11	3.55	4.06
Return on Investment (ROI) (PBT/Networth)		0.25	0.33	0.38
Debt Equity Ratio (Total Debt/Networth)		1.98	2.76	3.02
Current Ratio (Current Asset/Current Liability)		1.14	1.13	1.74

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	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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10319087	11/11/2011	350,000,000.00	ICICI BANK LIMITED	2B, GORKY TERRACE, IN FRONT OF PARK NURSING HOME, KOLKATA - 700017, WEST BENGAL, INDIA	B25833161
2	10303465	25/03/2013 *	2,322,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA - 700016, WEST BENGAL, INDIA	B75252387
3	10253212	22/11/2010	510,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA - 700016, WEST BENGAL, INDIA	B00191627
4	10203234	10/02/2010	542,900,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA - 700016, WEST BENGAL, INDIA	A79920807
5	10181971	24/10/2009	50,000,000.00	ALLAHABAD BANK	INTERNATIONAL BRANCH, 119,PARK STREET, KOLKATA - 700017, WEST BENGAL, INDIA	A71683197
6	90254254	25/03/2013 *	2,322,000,000.00	THE KARNATAKA BANK LIMITED	PARK STREET BRANCH, 1, SAROJINI NAIDU SARANI, KOLKATA - 700017, WEST BENGAL, INDIA	B75241331
7	90254000	20/02/2002 *	47,000,000.00	THE BANK OF RAJASTHAN LIMITED	CHOWRINGHEE ROAD BRANCH, 31 CHOWRINGHEE ROAD, KOLKATA - 700016, WEST BENGAL, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
SHORT TERM BORROWINGS
Working capital loans from banks	62.000	702.565
Loans repayable on demand from others	664.074	76.300
Other loans and advances	0.000	0.068
Total	726.074	778.933

OPERATIONS

During the year the Company has achieved a turnover of Rs . 11620.480 millions as compared to Rs. 10754.009 millions representing an increase of 8% over the previous year. The Company's profit before taxation for the year was Rs 98.544 millions as against Rs. 98.448 millions in the previous year recording a growth of 0.10 %. The increase in profit was mainly due to increase in sales volumes and operational efficiencies.

PROSPECTS

The year started with a positive note, however due to floods in Thailand during October there was a acute shortage of Hard Disk Drives resulting in lower demands of components . The supply position started improving from February 2012 onwards. During the year the company entered into tie with Belkin, Smartlink, Elitecore and Kingmax for marketing of their products. The company is in advance stage of negotiation with some other major brands and is confident that the growth prospects for ensuing year are very good.

PRODUCT DIVERSIFICATION:

The company is exploring the possibility of adding some Tablet PC brands in it's product basket. There is a great potential of growth in this segment and in next 2-3 years the expected business volume of tablets in India is expected to be around 5 million tablets per annum.

GEOGRAPHICAL DIVERSIFICATION:

The company opened it branch at Parwanoo during the year under review and plans to open branches at Jammu, Nasik, Visakhapatnam, Puducherry and Siliguri.

FINANCE:

OWNFUND:

During the year under review the Company has allotted 7,52,400 Equity Shares of Rs 10/- each fully paid-up and ranking pari-passu with the existing Equity Shares were issued to the Shareholders at a premium of Rs 30/- each.

BORROWED FUND:

The Company has approached it's bankers for enhancement in credit facilities to meet its enhanced working capital requirement on account of expansion of business operations by way of addition of new products in the portfolios and opening up new branches. Based on the representation made by the company the companies bankers have enhanced the working capital facilities .

CONTINGENT LIABILITIES (AS ON 31.03.2012) :

(Rs. in millions)

i. Sales Tax Demands against which the company is in appeal Rs.12.362 Millions (Previous year Rs. 12.144 Millions).

ii. Bank Guarantees executed Rs.317.791 Millions (Previous Year Rs.281.721 Millions).

iii. Letters of Credit issued in respect of Goods not yet received Rs.Nil Millions (Previous Year Rs.10.951 Millions).

iv. Custom Duty Demand Rs.1.385 Millions (Previous Year Rs.1.385 Millions).

v. Fringe Benefit Tax Demand Rs 0.105 Million (Previous Year 0.105 Million)

i) Sundry Debtors includes Rs. 35.740 Millions (Pr. Year Rs.33.792 Millions) for the recovery of which the company has initiated legal proceedings.

j) The Balances of sundry Debtors and Sundry Creditors are subject to confirmations from the parties.

k) Sundry Creditors includes Rs. 644.800 Millions (Previous Year Rs. 422.000 Millions) for which Buyers Credit arrangement has been made.

l) Foreign exchange Gains/(losses) of Rs. (101.104) Millions (Previous year Rs 40.488 Millions) has been adjusted with Purchases.

FIXED ASSETS

v Tangible Assets

Buildings

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PRESS RELEASE

MMD TIES UP WITH SUPERTRON, AS AN EXCLUSIVE NATIONAL DISTRIBUTOR FOR PHILIPS DISPLAYS

New Delhi, June, 2013: To further strengthen its presence in the Indian market, MMD, the exclusive licensee for Philips Commercial Signage and Philips Displays has appointed Supertron Electronics Private Limited as an exclusive National distributor for Philips large format displays in India.

On this announcement, Seema T Bhatnagar, Director Philips Signage Business India and SAARC, said "With the introduction of new Philip displays, our aim was to meet the demand of the consumers at more economical prices. To take the Philip display's experience to more and more consumers and in a faster rate, MMD has roped in Supertron Electronics Private Limited as the exclusive national distributor for Philips large display formats. The company has a nationwide presence with 29 branch offices and warehouses and 9 satellite offices across 29 states and Union Territories. The partnership will allow the people to have a choice and experience of what they are looking for.

Commenting on the tie up, Mr. Vibhor Agarwal, (Director Marketing) of Supertron Electronics Private Limited. said, "We are excited to partner with Philips. Philips has always been a progressive thinking company, by not only offering new technologies but also constantly upping the consumer engagement. experience By leveraging our pan India presence with over 29 branch offices and warehouses and our broad base national network with loyal customer base, dedicated sales and post-sales teams we will reach a newer heights with Philips displays . we are certain that product line is growing in India so we thrive to take the market share with our joint expertise and consumers across India will be able to benefit with high-quality display products from Philips."

By associating with Supertron, we want to cater to the mass largely. Through its strong spread, Supertron will support us to reach the Indian market to distribute the high quality, good design and innovative technologies.

About MMD:

MMD is a wholly owned company of TPV Technology established in 2009 through a brand license agreement with Philips. MMD exclusively develops, markets and sells Philips branded LCD monitors and public signage displays worldwide. By combining the Philips brand promise with TPV's manufacturing expertise in displays, MMD uses a fast and focused approach to bringing innovative products to market. MMD operates internationally with its worldwide headquarters in Taipei and regional Sales and Marketing HQs in Amsterdam, Shanghai and Singapore to serve the European, China and Rest-of-World markets respectively. Through its network of local sales offices and agencies, MMD works with all major IT distributors and resellers. The company's design and development centers are located in Taiwan.

About: Supertron Electronics Private Limited Supertron Electronics Limited is a leading Information Technology and of India and among the country's ten largest IT product distribution intermediaries with a turnover of over INR 1200 crores. Established in 1993 in Kolkata by Mr. V.K. Bhandari, the Chairman and Managing Director, Supertron Electronics is driven by an overarching mission to bring world-class technology to an under-penetrated India and empowering users.

The company's flagship business is the distribution of a wide variety of IT hardware products including Servers, Desktops, Laptops, Netbooks, PC components, Peripherals, Memory modules, Storage products, Networking products and Consumer Electronic Products of brand-enhancing international vendors like Acer, Buffalo, Dell, IBM, LG, Seagate , Transcend , Toshiba, Gateway and Digilite among others.

TOSHIBA INDIA ANNOUNCED SUPERTRON ELECTRONICS PRIVATE LIMITED AS ITS NATIONAL DISTRIBUTOR

Toshiba India announced Supertron Electronics Private Limited as its national distributor for the AMD processor powered Laptops and entire range of Netbooks. The appointment of Supertron Electronics is in line with the company's plans to aggressively expand its penetration in the country and further its reach to consumers in Tier II and Tier III towns.

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.65.96
UK Pound	1	Rs.102.91
Euro	1	Rs.86.58

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	MRI

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	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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--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.