MIRA INFORM REPORT

Report Date :

17.01.2014

IDENTIFICATION DETAILS

Name :	XOL TECHNOLOGIES PRIVATE LIMITED (w.e.f. 04.06.2010)
Formerly Known As :	TEK ELECTROMECHANICAL PRIVATE LIMITED (w.e.f. 17.07.1991) TEXTRONIX AUTOMATION AND ELECTRONICS PRIVATE LIMITED
Registered Office :	‘TE Park’ 22B, Doddenakundi Industrial Area, Whitefield Road, Bangalore – 560 048, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	05.04.1988
Com. Reg. No.:	25-063917
Capital Investment / Paid-up Capital :	Rs.30.000 Millions
CIN No.: [Company Identification No.]	U31909KA1988PTC063917
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Connectors and Inter-Connection Devices.
No. of Employees :	320 (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 560000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profitability of the company appears to be fair. Trade relations are fair. Business is active. Payment terms are reported to be 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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6 % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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. Digambar
Designation :	Assistance Purchase Manager
Contact No.:	91-9689892492
Date :	10.01.2014

LOCATIONS

Registered Office :	‘TE Park’ 22B, Doddenakundi Industrial Area, Whitefield Road, Bangalore – 560048, Karnataka, India
Tel. No.:	Not Available
Mobile No.:	91-9689892492 (Mr. Digambar)
Fax No.:	Not Available
E-Mail :	ravis@te.com prasannan-pv@tekelectromechnanicals.com info@tekcomponents.com atul@te.com
Factory :	Survey No. 166/3, Gat No. 95, Wagholi, Arahu Road, Kesnand, Pune – 412207, Maharashtra, India
Tel. No.:	91-20-66405300/66405303
Fax No.:	91-20-66405302

DIRECTORS

As on 30.09.2013

Name :

Bukanakere Subrahmanyam Krishnaprasad

Designation :

Director

Address :

38 / F1, Padma Apartment. 8^th Main Road, Bangalore – 560003, Karnataka, India

Date of Birth/Age :

24.03.1966

Date of Appointment :

31.08.2012

DIN No.:

03532304

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	U29199KA1995PTC032692	TYCO ELECTRONICS SYSTEMS INDIA PRIVATE LIMITED	Director	29/09/2011	17/03/2011	-	Active	NO
2	U31909KA1988PTC063917	XOL TECHNOLOGIES PRIVATE LIMITED	Director	31/08/2012	03/06/2011	-	Active	NO

Name :

Mr. Ravi Krishna Sastry

Designation :

Director

Address :

311, BCC Layout, 8^th Main Road, Vijaynagar, Bangalore – 560040, Karnataka, India

Date of Birth/Age :

21.02.1976

Date of Appointment :

31.08.2011

DIN No.:

00332491

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	U29299KA1991PTC041452	TYCO ELECTRONICS TOOLS INDIA PRIVATE LIMITED	Director	03/12/2002	03/12/2002	-	Amalgamated	NO
2	U29199KA1995PTC032692	TYCO ELECTRONICS SYSTEMS INDIA PRIVATE LIMITED	Director	11/05/2006	11/05/2006	-	Active	NO
3	U72900DL2000PTC105543	Elentec Technologies Private Limited	Director	30/09/2008	10/03/2008	14/09/2011	Active	NO
4	U31909KA1988PTC063917	XOL TECHNOLOGIES PRIVATE LIMITED	Director	31/08/2012	03/06/2011	-	Active	NO
5	U72900KA2000PTC028045	TE CONNECTIVITY GLOBAL SHARED SERVICES INDIA PRIVATE LIMITED	Director	30/09/2011	12/09/2011	-	Active	NO

Name :

Mr. Viswanath Srinivasan

Designation :

Director

Address :

No. 401, The Good Earth, 1 Cambridge, 2^nd Cross Road, Ulsoor 51^st Division, Bangalore – 560008, Karnataka, India

Date of Birth/Age :

29.12.1965

Date of Appointment :

03.06.2011

DIN No.:

01758140

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	U29199KA1995PTC032692	TYCO ELECTRONICS SYSTEMS INDIA PRIVATE LIMITED	Director	02/06/2000	02/06/2000	09/07/2010	Active	NO
2	U29299KL1995PLC009664	CII GUARDIAN INTERNATIONAL LIMITED	Director	29/08/2002	29/08/2002	28/06/2013	Active	NO
3	U74999MH1984PTC033786	RAYCHEM-RPG Private Limited	Director	12/12/2002	12/12/2002	20/06/2013	Active	NO
4	U72900DL2000PTC105543	Elentec Technologies Private Limited	Director	27/08/2004	27/08/2004	14/09/2011	Active	NO
5	L32209KA1988PLC009313	ADC India Communications Limited	Nominee director	10/02/2012	29/03/2011	06/09/2013	Active	NO
6	U31909KA1988PTC063917	XOL TECHNOLOGIES PRIVATE LIMITED	Director	31/08/2012	03/06/2011	-	Active	NO
7	U72900KA2000PTC028045	TE CONNECTIVITY GLOBAL SHARED SERVICES INDIA PRIVATE LIMITED	Director	30/09/2011	12/09/2011	26/03/2013	Active	NO
8	U29113KA2008PTC045394	Deutsch India Power Connectors Private Limited	Additional director	29/05/2012	29/05/2012	28/10/2012	Active	NO

Name :

Mr. Joydeep Nag

Designation :

Additional Director

Address :

D-1203, Brigade Metro Polis, White Field Road, Mahadevpura, Bangalore – 560048, Karnataka, India

Date of Birth/Age :

18.03.1956

Date of Appointment :

26.03.2013

DIN No.:

01501037

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	U24232WB2000PTC091267	DATEX OHMEDA (INDIA) PRIVATE LIMITED	Director	07/08/2006	07/08/2006	01/08/2012	Active	NO
2	U31909KA1996PTC020482	GE BE PRIVATE LIMITED	Director	20/07/2007	22/03/2007	01/08/2012	Active	NO
3	U72200AP2006PTC049113	MEDPLEXUS INDIA PRIVATE LIMITED	Director	26/09/2011	21/03/2011	-	Active	NO
4	U33111KA1990PTC016063	Wipro GE Healthcare Private Limited	Alternate director	15/05/2012	15/05/2012	15/08/2012	Active	NO
5	U51909DL1997PTC126131	Louis Dreyfus Commodities India Private Limited	Additional director	03/12/2012	03/12/2012	06/02/2013	Active	NO
6	U31909KA1988PTC063917	XOL TECHNOLOGIES PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	-	Active	NO
7	U72900KA2000PTC028045	TE CONNECTIVITY GLOBAL SHARED SERVICES INDIA PRIVATE LIMITED	Additional director	26/03/2013	26/03/2013	-	Active	NO
8	L32209KA1988PLC009313	ADC India Communications Limited	Nominee director	13/08/2013	29/05/2013	-	Active	NO
9	U74999MH1984PTC033786	RAYCHEM-RPG Private Limited	Director appointed in casual vacancy	20/06/2013	20/06/2013	-	Active	NO
10	U29299KL1995PLC009664	CII GUARDIAN INTERNATIONAL LIMITED	Nominee director	28/06/2013	28/06/2013	-	Active	NO
11	U29199KA1995PTC032692	TYCO ELECTRONICS SYSTEMS INDIA PRIVATE LIMITED	Additional director	19/07/2013	19/07/2013	-	Active	NO
12	U29113KA2008PTC045394	Deutsch India Power Connectors Private Limited	Director	20/11/2013	20/11/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Digambar
Designation :	Assistance Purchase Manager

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
TE Connectivity India Private Limited, India	299999
Tyco Electronics Systems India Private Limited, India	1
Total	300000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Connectors and Inter-Connection Devices.
Exports :
Products :	Finished Goods
Countries :	· Germany · Dubai · Poland
Imports :
Products :	Raw Materials
Countries :	· China · Thailand
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Actual Production
Indegenous
Wire Connectors	Nos.	--
20 Pair Modular Connectors	Nos.	--
Automotive Connectors	Nos.	12492145.00
Automotive – Moulded Components	Nos.	24699906.00
Automotive – Stamped Components	Nos.	75848263.00
Other – Moulded Components	Nos.	273286.00
Other – Stamped Components	Nos.	28080582.00
Press Tools	Nos.	16.00
Injection Moulds	Nos.	37.00
Crimping Moulds	Nos.	--
Raw Material	Nos.	457.00
Aerospace Components	Nos.	688503.00
Fuse Boxes	Nos.	921486.00
Miscellaneous	Nos.	148470.00
Export
Injection Moulds	Nos.	3.00
Stamped Components	Nos.	18703.00
Moulded Components	Nos.	82615.00
Press Tools	Nos.	--
Aerospace Components	Nos.	182606.00
Automotive Connectors	Nos.	--
Other – Moulded Components	Nos.	--
Other – Stamped Components	Nos.	--

GENERAL INFORMATION

Suppliers :	Rhodia Corea Company Limited
Customers :	Goodrich Lighting Systems Gmbh
No. of Employees :	320 (Approximately)
Bankers :	· Union Bank of India · Bank of Maharashtra, Deccan Branch · Bank of Maharashtra, Camp Branch, Khudamurad Building, Sachapir Street Camp, Pune – 411001, Maharashtra, India Tel No.: 91-20-26137250

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Deloitte Center, 100/2, Richmond Road, Bangalore – 560025, Karnataka, India
Tel. No.:	91-80-66276000
Fax No.:	91-80-66276011
PAN No.:	AACFD3771D
Holding Company :	TE Connectivity India Private Limited (Formally Tyco Electronics Corporation India Private Limited ) CIN No. : U31909KA1993PTC015007
Fellow Subsidiaries :	· TE Connectivity Solution GmbH (Formerly known as Tyco Electronics Logistics AG) · Tyco Electronics AMP Korea Limited · Tyco Electronics Corporation, USA · Tyco Electronics AMP GmbH · ADC Telecommunications, Inc. · Tyco Electronics (M) Sdn. Bhd. · Tyco Electronics – Comp. Electrornecinicos, Lda · Tyco Electronics Middle East FZE

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.100/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.100/- each	Rs.30.000 Millions

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	30.000	30.000	30.000
(b) Reserves & Surplus	109.592	97.808	112.097
(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)	139.592	127.808	142.097
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	20.041
(b) Deferred tax liabilities (Net)	0.000	0.000	5.109
(c) Other long term liabilities	0.082	0.061	0.000
(d) long-term provisions	9.972	8.532	4.140
Total Non-current Liabilities (3)	10.054	8.593	29.290
(4) Current Liabilities
(a) Short term borrowings	210.000	150.000	73.792
(b) Trade payables	118.002	54.564	69.220
(c) Other current liabilities	8.101	20.550	38.776
(d) Short-term provisions	0.246	0.139	5.788
Total Current Liabilities (4)	336.349	225.253	187.576
TOTAL	485.995	361.654	358.963
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	102.200	130.268	183.937
(ii) Intangible Assets	1.695	2.076	1.924
(iii) Capital work-in-progress	47.835	9.168	2.800
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.010	0.010
(c) Deferred tax assets (net)	15.190	8.908	0.000
(d) Long-term Loan and Advances	12.735	7.510	1.382
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	179.655	157.940	190.053
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	123.904	55.345	43.712
(c) Trade receivables	136.682	125.787	109.461
(d) Cash and cash equivalents	12.706	12.152	6.400
(e) Short-term loans and advances	33.048	10.430	9.294
(f) Other current assets	0.000	0.000	0.043
Total Current Assets	306.340	203.714	168.910
TOTAL	485.995	361.654	358.963

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		504.977	420.844	445.585
		Other Income		1.510	6.198	NA
		TOTAL (A)		506.487	427.042	NA
Less	EXPENSES
		Cost of Materials Consumed		274.172	203.603
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(18.713)	(5.151)
		Employee Benefits Expenses		73.139	69.630
		Other Expenses		103.489	96.760
		Prior Pried Expenses		0.000	28.389
		TOTAL (B)		432.087	393.231	NA
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			74.400	33.811	NA
Less	FINANCIAL EXPENSES (D)			19.114	13.684	NA
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			55.286	20.127	69.747
Less	DEPRECIATION/ AMORTISATION (F)			37.794	40.133	28.977
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			17.492	(20.006)	40.770
Less	TAX (H)			5.708	(5.717)	14.559
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			11.784	(14.289)	26.211
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			97.183	111.472	108.707
Less	ISSUE OF BONUS SHARES			0.000	0.000	23.446
	BALANCE CARRIED TO THE B/S			108.967	97.183	111.472
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	39.096	46.312	51.059
	TOTAL EARNINGS			39.096	46.312	51.059
	IMPORTS
			Raw Materials	162.776	84.944	71.152
			Capital Goods	7.181	7.650	11.474
	TOTAL IMPORTS			169.957	92.594	82.626
	Earnings Per Share (Rs.)			39.28	(47.63)	87.37

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.33	(3.35)	NA
Net Profit Margin (PBT/Sales)	(%)	3.46	(4.75)	9.15
Return on Total Assets (PBT/Total Assets}	(%)	4.17	(5.95)	11.49
Return on Investment (ROI) (PBT/Networth)		0.13	(0.16)	0.29
Debt Equity Ratio (Total Debt /Networth)		1.50	1.17	0.66
Current Ratio (Current Asset/Current Liability)		0.91	0.90	0.90

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

CORPORATE INFORMATION

Subject is a Private Limited company incorporated under the provisions of the Companies Ad, 1956. The Company is engaged in manufacture of connectors and inter-connection devices. The Registered Office of the Company is in Bangalore and has manufacturing facility in Pune. The Company is a subsidiary of TE Connectivity India Private Limited (Formerly known as Tyco Electronics Corporation India Private Limited).

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	80003316	06/09/1994	2,900,000.00	MSFC	Fort, Mumbai, Maharashtra - 400001, INDIA	-
2	80003315	30/03/1992	6,000,000.00	MSFC	Fort, Mumbai, Maharashtra - 400001, INDIA	-
3	80003314	13/12/1989	2,850,000.00	MSFC	Fort, Mumbai, Maharashtra - 400001, INDIA	-

TRADE REFERENCES:

· Rhodia Corea Company Limited

· Goodrich Lighting Systems Gmbh

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Office Equipment

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.61.53
UK Pound	1	Rs.100.73
Euro	1	Rs.83.84

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--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	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--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

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