MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	MATRIX COMSEC PRIVATE LIMITED (w.e.f. 09.03.2010)

Formerly Known As :	MATRIX TELECOM PRIVATE LIMITED

Country :	India

Financials (as on) :	31.03.2013

TAN No.: [Tax Deduction & Collection Account No.]	BRDM00763A

PAN No.: [Permanent Account No.]	AABCM5892Q

Legal Form :	Private Limited Liability Company

No. of Employees :	Not Available

BUSINESS DETAILS

Line of Business :

Manufacturer of EPBX Telecom and Security Products.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The Royal Bank of Scotland, N. V. 4, North Avenue, Level 3, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short term borrowings
From bank: Working capital loans (The loan is secured by way of hypothecation of stock and trade receivable and by way of mortgage of building)	29.336	0.000
Foreign currency loan (The loan is secured by way of hypothecation of stock and debtors and by way of mortgage of building)	20.424	29.342
Total	49.760	29.342


Banking Relations :	--

Auditors :
Name :	Manish Shah and Associates Chartered Accountants
Address :	38/101, Gautam Nagar, Race Course Circle, Vadodara – 390 007, Gujarat, India
Tel.Fax No.:	91-265-2359390/ 2337994
E-Mail :	ca_mgshah@gmail.com
PAN No.:	ABWPS4295E

Subsidiary Firm :	· Matrix Comsec LLC · Matrix System

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders		No. of Shares
Jivani Ramesh		150
Savla Dhirendra		16990
Jivani Ganesh		48650
Salva Mita		20
Jivani Savji		150
Salva Sushila		240
Jivani Jaya		150
Total		66350

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.663	0.663	0.663
(b) Reserves & Surplus	431.666	377.977	331.596
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	432.329	378.640	332.259

(3) Non-Current Liabilities
(a) long-term borrowings	1.128	29.342	0.831
(b) Deferred tax liabilities (Net)	0.000	1.676	10.512
(c) Other long term liabilities	16.451	11.925	10.008
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	17.579	42.943	21.351

(4) Current Liabilities
(a) Short term borrowings	49.760	0.830	0.000
(b) Trade payables	52.464	53.863	57.020
(c) Other current liabilities	40.639	34.729	26.297
(d) Short-term provisions	18.965	15.675	23.657
Total Current Liabilities (4)	161.828	105.097	106.974

TOTAL	611.736	526.680	460.584

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	337.353	204.553	206.609
(ii) Intangible Assets	0.054	0.204	0.255
(iii) Capital work-in-progress	0.000	90.643	22.692
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.280	0.500	0.000
(c) Deferred tax assets (net)	5.391	0.000	0.000
(d) Long-term Loan and Advances	14.406	18.779	8.945
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	357.484	314.679	238.501

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	163.171	160.531	156.380
(c) Trade receivables	65.937	33.741	42.337
(d) Cash and cash equivalents	11.458	6.201	9.333
(e) Short-term loans and advances	12.319	10.474	13.986
(f) Other current assets	1.367	1.054	0.047
Total Current Assets	254.252	212.001	222.083

TOTAL	611.736	526.680	460.584

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income			555.138
		Other Income			3.231
		TOTAL (A)	752.225	658.469	558.369

Less	EXPENSES
		Raw Material Consumed			244.279
		Manufacturing Expenses			48.495
		Employees Cost and Benefits			74.196
		Selling Expenses		587.422	53.506
		Administrative Expenses			12.906
		R and D Expenses			48.893
		Increase/ Decrease in stock			(22.839)
		TOTAL (B)	653.718	587.422	459.436

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		98.507	71.047	98.933

Less	FINANCIAL EXPENSES (D)		8.493	3.996	1.122

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		90.014	67.051	97.811

Less/ Add	DEPRECIATION/ AMORTISATION (F)		31.599	20.115	10.543

	PROFIT BEFORE TAX (E-F) (G)		58.415	46.936	87.268

Less	TAX (H)		11.793	9.391	4.135

Add	Deferred tax Assets/Liabilities		7.067	8.836	0.000

	PROFIT AFTER TAX (G-H) (I)		53.689	46.381	83.133

Less	PRIOR PERIOD TO ADJUSTMENT		0.000	0.000	0.003

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		377.422	331.041	247.911

	BALANCE CARRIED TO THE B/S		431.111	377.422	331.041

	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	254.040	206.291	152.564
	TOTAL EARNINGS		254.040	206.291	152.564

	IMPORTS
		Raw Materials	285.793	209.714	161.826
		Traveling Expenses	2.038	3.185	1.606
		Capital Goods	0.000	12.141	1.677
	TOTAL IMPORTS		287.831	225.040	165.109

	Earnings Per Share (Rs.)		809.18	6990.35	1253.00

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered Office / Head Office / Corporate Office :	394, GIDC Makarpura, Vadodara – 390 010, Gujarat, India
Tel. No.:	91-265-2630555
Fax No.:	91-265-2636598
E-Mail :	inquiry@matrixcomsec.com prakash.punjabi@matrixcomsec.com tejaswini.patel@matrixtelesol.com dhirendra.salva@matrixcomsec.com Dharmesh.Shah@MatrixComsec.com
Website :	http://www.matrixcomsec.com
Location :	Owned

Factory 2 :	19-GIDC, Waghodia District, Vadodara – 391 760, Gujarat, India
Tel. No.:	91-2668-263172/73

R and D Center :	190, GIDC, Makarpura, Vadodara - 390 010, Gujarat, India
Tel. No.:	91-265-2630555
Fax No.:	91-265-2636598

Branch Office :	Located at: · Germany · UAE · USA

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.