MIRA INFORM REPORT

Report Date :

24.12.2014

IDENTIFICATION DETAILS

Name :	JUPITER ELECTRONICS
Registered Office :	G 414, Kailash Industrial Complex, Vikhroli Park Side Road, Off L.B.S. Marg, Behind Godrej Colony, Vikhroli (West), Mumbai – 400079, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	1980
Capital Investment / Paid-up Capital :	Rs.29.216 Millions
IEC No.:	Not Available
TIN No.:	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader and Importer of Sensors and Transmitters.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 66000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established proprietary concern having a satisfactory track record. Trade relations are fair. Business is active. Payments terms are reported to be usually correct. The concern 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Dinesh Kadam
Designation :	Accounts Manager
Contact No.:	91-22-25185474
Date :	15.12.2014

LOCATIONS

Registered Office :	G 414, Kailash Industrial Complex, Vikhroli Park Side Road, Off L.B.S. Marg, Behind Godrej Colony, Vikhroli (West), Mumbai – 400079, Maharashtra, India
Tel. No.:	91-22-25185474/67551606/25170795/25186470/25186471
Mobile No.:	91-9819515467 (Mr. Krishna)
Fax No.:	91-22-25170867
E-Mail :	sales@jupitereletronics.co.in Krishna@jupiterelectronics.co.in dinesh@jupitarelectronics.co.in
Website :	http://www.jupiterelectronics.com
Area :	850 sq. ft.
Location :	Owned
Head Office :	A-401, Kailash Industrial Complex, Veer Sawarkar Marg, Vikhroli (West), Mumbai – 400079, Maharashtra, India
Warehouse :	Located At Gaon, Kasara, Maharashtra, India

SOLE PROPRIETOR

Name :	Mr. Bipin Ghelani
Designation :	Proprietor
Qualification :	B.E.

KEY EXECUTIVES

Name :	Mr. Dinesh Kadam
Designation :	Accounts Manager

BUSINESS DETAILS

Line of Business :	Trader and Importer of Sensors and Transmitters
Products :	Pressure Sensors Calibration Differential Pressure Transmitters Air velocity Transmitters Digital Pressure Guage Air velocity Switch Humidity Sensors Multipoint Air Velocity Instrument Humidity and Temp. Transmitters Airflow Visualiser High Temperature  Humidity and Temperature Transmitters Pressure Switch Industrial  Transmitters CO2 Sensors Hand Held Instruments Force Sensors LVDT
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Products :	Sensors Transmitters
Countries :	Switzerland Hong Kong USA Austria Germany
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Wholesalers, Retailers and End Users

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

25 (Approximately)

Bankers :

• Standard Chartered Bank, Branch Ghatkoper, Mumbai, Maharashtra, India
• Axis Bank, Branch Ghatkoper, Mumbai, Maharashtra, India

Auditors :
Name :	Bharat Shah and Associates Chartered Accountant
Memberships :	Not Available
Sister Concern :	Galaxy Enterprises, Ghatkoper (West), Mumbai, Maharashtra, India Jupiter Integrated Sensor System Private Limited, Mumbai, Maharashtra, India

CAPITAL STRUCTURE

As on 31.03.2014

Capital :
Owned :	Rs. 22.947 Millions
Borrowed :	--
Total :	Rs. 22.947 Millions

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietor Capital		22.947	29.216
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		22.947	29.215
LOAN FUNDS
1] Secured Loans		0.311	2.945
2] Unsecured Loans		51.130	43.695
TOTAL BORROWING		51.441	46.640
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		74.388	75.855
APPLICATION OF FUNDS		0.000	0.000
FIXED ASSETS [Net Block]		18.822	18.116
Capital work-in-progress		0.000	0.000
INVESTMENT		5.955	7.362
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	18.409	0.000
	Sundry Debtors	3.933	0.000
	Cash & Bank Balances	5.269	0.000
	Current assets, Loan and Advances and Other Current Assets	48.899	67.966
Total Current Assets		76.510	67.966
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000
	Current Liabilities and Provision	26.899	17.589
Total Current Liabilities		26.899	17.589
Net Current Assets		49.611	50.377
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		74.388	75.855

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	31.987	37.865
		Other Income	4.213	2.086
		TOTAL	36.200	39.951
Less	EXPENSES
		Cost of goods sold	21.245	25.322
		Salary	1.754	1.673
		Advertisement Expenses	0.067	0.070
		Audit fees	0.067	0.077
		Bad debts	0.123	0.001
		Balance written off	0.753	0.000
		Bank charges	0.076	0.026
		Bank interest	0.025	0.199
		Business promotion expenses	0.116	0.066
		Clearing charges	0.025	0.012
		Commission	0.358	0.947
		Commission on sales	0.062	0.000
		Computer repairs and maintenance	0.020	0.014
		Conveyance expenses	0.040	0.092
		Courier charges	0.786	0.625
		Custom warehouse charges	0.015	0.000
		Donation	0.000	0.052
		Electricity charges	0.246	0.123
		Exchange rate floatation	0.296	0.243
		Exhibition Expenses	0.257	0.114
		Insurance Charges	0.284	0.243
		Insurance on car	0.038	0.016
		Insurance on Employee	0.000	0.056
		Interest on loan	6.643	6.183
		Maintenance Charges	0.281	0.157
		Mediclaim for Employee	0.069	0.056
		Misc. Expenses	0.068	0.113
		Motor car expenses	0.006	0.064
		Octopi expenses	0.001	0.000
		Office expenses	0.151	0.141
		Packaging Material	0.045	0.019
		Printing and stationery	0.051	0.059
		Professional charges	0.071	0.060
		Rate difference	(0.001)	0.009
		Repairs charges	0.212	0.000
		Registration charges	0.035	0.000
		Repaired and Maintenance	0.006	0.038
		Service charges	0.037	0.030
		Staff welfare	0.073	0.040
		Telephone charges	0.244	0.185
		Travelling expenses	0.011	0.051
		Tender fees	(0.026)	0.000
		VAT Account	0.583	0.240
		Loss in f and A.K. Stock	0.011	0.174
		TOTAL	35.224	37.590
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.976	2.361
Less/ Add	DEPRECIATION/ AMORTISATION		0.510	0.529
	PROFIT BEFORE TAX		0.466	1.832
Less	TAX		0.020	0.002
	Net Profit		0.446	1.830

The above information has been parted by Mr. Dinesh Kadam

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	1.39	4.83
Return on Total Assets (PBT/Total Assets}	(%)	0.47	2.13
Return on Investment (ROI) (PBT/Networth)		0.02	0.06
Debt Equity Ratio (Total Debt /Networth)		2.24	1.60
Current Ratio (Current Asset/Current Liability)		0.98	1.11

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	37.865	31.987
		(15.524)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	37.865	31.987
Profit	1.830	0.446
	4.83%	1.39%

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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	No
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
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

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 records 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.63.45
UK Pound	1	Rs.98.88
Euro	1	Rs.77.62

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
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	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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
HISTORY		45

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.