MIRA INFORM REPORT

Report Date :

26.05.2014

IDENTIFICATION DETAILS

Name :	KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED
Registered Office :	Keltron House, Vellayambalam, Trivandrum – 695033, Kerala
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	29.09.1972
Com. Reg. No.:	09-002450
Capital Investment / Paid-up Capital :	Rs.1033.596 Millions
CIN No.: [Company Identification No.]	U74999KL1972SGC002450
PAN No.: [Permanent Account No.]	AABCK1319E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Electronic Products.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 140000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is government of Kerala undertaking company. It is an established company having moderate track record. As per registrar of companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2013 but the documents related to financial are not available from any source. As per available financial record of 2012, the company has incurred a huge accumulated loss which has eroded the net worth of the company. However, the company gets good financial and managerial support from government of Kerala. However, trade relations are fair. Business is active. Payment terms are slow. In view of strong government support, the company can be considered for business dealing with some caution.

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, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

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 DENIED BY

Name :	Mr. Selva Narayan
Designation :	Deputy Officer
Contact No.:	91-44-24341261
Date :	23.05.2014

LOCATIONS

Registered Office / Corporate Office :	Keltron House, Vellayambalam, Trivandrum – 695033, Kerala, India
Tel. No.:	91-471-2724444 / 4094444
Fax No.:	91-471-2724545
E-Mail :	ksedc@sancharnet.in
Website :	http://keltron.org
Production Centres :	· IT Business Group Keltron House, Vellayambalam, Thiruvananthapuram – 695033, Kerala, India Phone: 91-471-2724111 / 4094444 Fax: 91-471–2724545 Email: itbg@keltron.org · Keltron Equipment Complex Karakulam PO, Thiruvananthapuram – 695564, Kerala, India Phone: 91-472-2888771 / 2888999 Fax: 91-472-2888736 · Email: keccyb@md2.vsnl.net.in · Security and Surveillance Group Keltron Equipment Complex, Karakulam PO, Thiruvananthapuram – 695564, Kerala, India Phone: 91-472-2888457 / 2888999 Fax: 91-472-2888736 Email: keccyb@md2.vsnl.net.in · Keltron Transmission Equipment Unit Katalur PO, Mudadi, Kozhikode - 673531, Kerala, India Phone:  0496-2691343 Fax: 0496-2691343 Email: kelkteu@bsnl.in · Keltron Electro Ceramics Limited Kuttippuram PO, Malappuram 679571, Kerala, India Phone:  91-494-2699231 / 2699232 Fax: 91-494-2699233 Email: koz_kelcera@sancharnet.in kozkelcera@dataone.in · Switching Equipment Unit Keltron Communication Complex, Monvila, Kulathur PO, Thiruvananthapuram – 695583, Kerala, India Phone: 0471-2598948, 2298942 Fax: 0472-2598984 Email: kelcom@dataone.in · Traffic Signals Divition Keltron Communication Complex, Monvila, Kulathur PO, Thiruvananthapuram – 695583, Kerala, India Phone: 91-471-2598234 Fax: 91-472-2598984 Email: traffic@keltron.org · Keltron Controls Aroor PO, Alappuzha – 688534, Kerala, India Phone: 91-478-2872323/ 6 / 2872455 Fax: 0478-2872322 Email: kelkca@vsnl.com · Keltron Component Complex Limited Kalliassery, Kannur – 670562, Kerala, India Phone: 91-497-2780831 / 34 / 2780735 Email: cnn_kelcan@sancharnet.in · Power Electronics Group Keltron Equipment Complex, Karakulam PO, Thiruvananthapuram – 695564, Kerala, India Phone: 91-472-2888720 / 2888999 Fax: 91-472-2888736 Email: keccyb@md2.vsnl.net.in
Marketing Offices :	Located At : · Mumbai · Kolkata · New Delhi · Bangalore · Chennai · Hyderabad · Ahmedabad · Kochi · Kozhikode
Customer Support :	· Trivandrum Service Center Phone: 91-471-2722673 / 4094444-254 Email: service@keltron.org · Cochin Service Center Phone: 91-484-2400557 / 2401360 Email: keltronchn@dataone.in · Calicut Service Center Phone: 91-495-2365190 Email: keltronclt@dataone.in

DIRECTORS

As on 30.09.2013

Name :

Mr. Prasanna Kumar Chellappan

Designation :

Director

Address :

Remyam TC, 4, 2165, 1 Pattom, Trivandrum - 595004, Kerala, India

Date of Birth/Age :

13.11.1953

Date of Appointment :

24.02.2011

DIN No.:

00458128

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	L31904KL1974SGC002630	KELTRON COMPONENT COMPLEX LTD	Director	27/06/2009	17/06/2006	-	Active	NO
2	U32103KL1975SGC002690	KELTRON RESISTORS LIMITED	Director	27/06/2009	17/06/2006	-	Amalgamated	NO
3	U74999KL1975SGC002674	KELTRON MAGNETICS LIMITED	Director	27/06/2009	17/06/2006	-	Amalgamated	NO
4	U31904KL1974SGC002631	KELTRON CRYSTALS LIMITED	Director	27/06/2009	17/06/2006	-	Amalgamated	NO
5	U29299KL1974SGC002601	KELTRON ELECTRO CERAMICS LIMITED	Nominee director	23/03/2007	26/06/2006	-	Active	NO
6	U74999KL1972SGC002450	KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED	Managing director	24/02/2011	24/02/2011	-	Active	NO

Name :

Mr. Gopal Chandrasekhar Gopala Pillai

Designation :

Director

Address :

S 1, Fact Township, Udyogmandal, Cochi, Ernakulam – 583501, Kerala, India

Date of Birth/Age :

01.03.1949

Date of Appointment :

03.02.2012

DIN No.:

00083936

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	U45309KL1995PLC009310	KINFRA INTERNATIONAL APPAREL PARKS LIMITED	Director	07/08/1995	07/08/1995	22/03/2013	Active	NO
2	L24129KL1943GOI000371	FERTILISERS AND CHEMICALS TRAVANCORE LIMITED	Managing director	04/07/2005	04/07/2005	02/01/2007	Active	NO
3	U45309KL1961SGC001937	KERALA STATE INDUSTRIAL DEVELOPMENT CORPN LIMITED	Director	14/05/2007	14/05/2007	25/02/2011	Active	NO
4	U45209KL2007PLC020471	INKEL LIMITED	Managing director	21/11/2007	21/11/2007	11/03/2011	Active	NO
5	U74900KL2010PLC025556	INKEL-KINFRA INFRASTRUCTURE PROJECTS LIMITED	Nominee director	24/02/2010	24/02/2010	11/03/2011	Active	NO
6	U74900KL2010PLC025553	INKEL-KSIDC PROJECTS LIMITED	Nominee director	24/02/2010	24/02/2010	11/03/2011	Active	NO
7	U74999KL1972SGC002450	KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED	Director	03/02/2012	03/02/2012	-	Active	NO
8	U74999MH1968GAP014120	INDO-AMERICAN CHAMBER OF COMMERCE	Director	28/09/2012	28/09/2012	-	Active	NO
9	U63032KL1972GOI002414	COCHIN SHIPYARD LIMITED	Nominee director	27/11/2012	27/11/2012	-	Active	NO

Name :

Mr. Mucheth Muhamed Abdul Basheer

Designation :

Director

Address :

Mucheth House, H. No. IV, 34, 6A, VC Ahmed Unni Road, W Veliyathundu, Aluva, Eranakulam – 683511, Kerala, India

Date of Birth/Age :

28.11.1961

Date of Appointment :

03.02.2012

DIN No.:

00120916

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	U31908KL1995PLC009071	INDO GERMAN CARBONS LIMITED	Managing director	01/01/2009	10/01/1996	-	Active	NO
2	U55101KL1997PTC011649	Mfar Hotels and Resorts Private Limited	Director	23/07/1997	23/07/1997	-	Active	NO
3	U55101KL2001PTC015027	M FAR BEACH RESORTS Private Limited	Director	30/10/2001	30/10/2001	-	Active	NO
4	U23109KL2004PTC017583	ACTIVE CHAR PRODUCTS PRIVATE LIMITED	Director	15/11/2004	15/11/2004	-	Active	NO
5	U55101KL2006PTC019885	MFAR Elite Resorts Private Limited	Director	27/09/2006	27/09/2006	-	Active	NO
6	U55101KL2006PTC020000	KUMALI VALLEY ECO RESORTS PRIVATE LIMITED	Director	15/11/2006	15/11/2006	-	Active	NO
7	U55101KL2006PTC020057	KUMALI MIST RESORTS PRIVATE LIMITED	Director	30/11/2006	30/11/2006	-	Active	NO
8	U55101KL2006PTC020113	MFAR ECO RESORTS (INDIA) PRIVATE LIMITED	Director	15/12/2006	15/12/2006	-	Active	NO
9	U45202KL2007PTC020268	VAZHAYOOR PROPERTIES PRIVATE LIMITED	Director	22/01/2007	22/01/2007	-	Active	NO
10	U45202KL2007PTC020266	ERANAD TOWNSHIP COMPLEX PRIVATE LIMITED	Director	22/01/2007	22/01/2007	-	Active	NO
11	U45202KL2007PTC020262	ERANAD PROPERTIES PRIVATE LIMITED	Director	22/01/2007	22/01/2007	-	Active	NO
12	U45202KL2007PTC020639	EASTHILL PROPERTY DEVELOPERS PRIVATE LIMITED	Director	12/04/2007	12/04/2007	-	Active	NO
13	U45202KL2007PTC020640	KALLAI REALTORS PRIVATE LIMITED	Director	12/04/2007	12/04/2007	-	Active	NO
14	U45202KL2007PTC020734	Mfar Township Complex Private Limited	Director	01/05/2007	01/05/2007	-	Active	NO
15	U70101KL2007PTC021123	M FAR REALTORS PRIVATE LIMITED	Director	17/08/2007	17/08/2007	-	Active	NO
16	U25199KL2007PTC021338	COCHIN GASKETS PRIVATE LIMITED	Managing director	10/11/2007	23/10/2007	-	Active	NO
17	U45200KL2008PTC022428	Mfar Infrastructure Projects Private Limited	Director	15/05/2008	15/05/2008	-	Active	NO
18	U45200KL2008PTC022745	VAZHAYOOR INFRASTRUCTURE AND TOWNSHIP PRIVATE LIMITED	Director	09/07/2008	09/07/2008	-	Active	NO
19	U45200KL2008PTC023106	SILVERBRICKS BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	03/09/2008	03/09/2008	-	Strike off	NO
20	U45209KL2003PTC016226	SUKAM CONSTRUCTIONS PRIVATE LIMITED	Director	10/08/2009	10/08/2009	01/03/2011	Active	NO
21	U63012KL2011PTC028839	MIV LOGISTICS PRIVATE LIMITED	Director	11/07/2011	11/07/2011	-	Active	NO
22	U23109KA2010PTC052186	KALPA CHAR PRODUCTS PRIVATE LIMITED	Additional director	20/08/2011	20/08/2011	-	Active	NO
23	U74999KL1972SGC002450	KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED	Director	03/02/2012	03/02/2012	-	Active	NO
24	U45209KL2007PLC020471	INKEL LIMITED	Alternate director	04/06/2013	04/06/2013	-	Active	NO
25	AAB-2491	MANANCHIRA PROPERTIES LLP	Designated Partner	07/12/2012	07/12/2012	-	Active	NO

Name :

Mr. Srinivas Shashidhar Kukatlapalli

Designation :

Director

Address :

147, 12 359, Collectors Bungalow, 9 Parakunnam, Municipality, Palakkadd – 678001, Kerala, India

Date of Birth/Age :

29.01.1965

Date of Appointment :

03.02.2012

DIN No.:

01644154

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	U26941KL1978SGC002975	MALABAR CEMENTS LIMITED	Managing director	27/07/2006	27/07/2006	11/02/2008	Active	NO
2	U51311KL1996SGC010194	KANJIKODE ELECTRONICS AND ELECTRICALS LIMITED	Director	09/08/2007	09/08/2007	28/02/2009	Active	NO
3	U31200KL1964SGC002062	KERALA ELECTRICALS AND ALLIED ENGG CO LIMITED	Director	16/03/2009	16/03/2009	09/01/2012	Active	NO
4	U65999KL1996PLC009848	ICICI KINFRA LIMITED	Nominee director	25/03/2009	25/03/2009	26/02/2014	Active	NO
5	U31200KL1960SGC001860	TRACO CABLE CO LIMITED	Additional director	26/03/2009	26/03/2009	30/12/2011	Active	NO
6	U74140KL1972PLC002425	KITCO LIMITED	Nominee director	02/05/2009	02/05/2009	-	Active	NO
7	U45309KL1999PTC012863	MARINE PRODUCTS INFRASTRUCTURE DEVELOPMENT CORPORATION PRIVATE LIMITED	Director	30/09/2009	04/05/2009	05/10/2013	Active	NO
8	U13209KL1946SGC001214	TRAVANCORE TITANIUM PRODUCTS LIMITED	Director	03/02/2011	11/05/2009	-	Active	Yes
9	U24299KL1951SGC001237	THE TRAVANCORE COCHIN CHEMICALS LIMITED	Director	30/09/2009	08/06/2009	-	Active	NO
10	U14109KL1972SGC002399	THE KERALA MINERALS AND METALS LIMITED	Nominee director	20/12/2012	11/06/2009	16/11/2013	Active	NO
11	U50300KL1978SGC002966	KERALA AUTOMOBILES LIMITED	Director	27/06/2009	27/06/2009	18/03/2010	Active	NO
12	U14109KL1992SGC006567	KERALA STATE MINERAL DEVELOPMENT CORPORATION LIMITED	Director	30/06/2009	30/06/2009	03/04/2010	Active	NO
13	U72900KL2008SGC021779	KERALA STATE INFORMATION TECHNOLOGY INFRASTRUCTURE LIMITED	Director	06/01/2012	06/01/2012	04/05/2012	Active	NO
14	U74999KL1972SGC002450	KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED	Director	03/02/2012	03/02/2012	-	Active	NO
15	U52209KL1974SGC002615	KERALA STATE CIVIL SUPPLIES CORPN LIMITED	Director	09/08/2012	09/08/2012	23/11/2012	Active	NO
16	U40108KL2008PTC023163	KINESCO POWER AND UTILITIES PRIVATE LIMITED	Nominee director	20/09/2012	20/09/2012	30/12/2013	Active	NO
17	U80220KL2012NPL030883	Kerala Academy for Skills Excellence	Director	17/11/2012	17/11/2012	-	Active	NO
18	U27104KL1969SGC002253	SAIL-SCL KERALA LIMITED	Director	31/12/2012	23/11/2012	-	Active	NO
19	U29299KL1989PLC005405	BRAHMOS AEROSPACE THIRUVANANTHAPURAM LIMITED	Nominee director	08/12/2012	08/12/2012	-	Active	NO
20	U45309KL1994PLC008288	WESTERN INDIA KINFRA LIMITED	Nominee director	24/12/2012	24/12/2012	09/12/2013	Active	NO
21	U25191KL1997PTC011952	RUBBER PARK INDIA PRIVATE LIMITED	Director	27/12/2012	27/12/2012	22/11/2013	Active	NO
22	L25111KL1959PLC009300	PTL ENTERPRISES LIMITED	Nominee director	06/02/2013	06/02/2013	05/12/2013	Active	NO
23	L25111KL1972PLC002449	APOLLO TYRES LIMITED.	Nominee director	06/02/2013	06/02/2013	11/12/2013	Active	NO
24	U28910KL1983SGC003729	STEEL AND INDUSTRIAL FORGINGS LIMITED	Director	16/03/2013	16/03/2013	03/05/2013	Active	NO
25	U21013KL1983GOI003735	HINDUSTAN NEWS PRINT LIMITED	Nominee director	22/05/2013	22/05/2013	-	Active	NO
26	U31102KL1963SGC002043	TRANSFORMERS AND ELECTRICALS KERALA LIMITED	Nominee director	17/06/2013	17/06/2013	-	Active	NO

Name :

Mr. Zahir Ali

Designation :

Director

Address :

5 1479, Saharafath Way, Anand Road, Kozhikooe – 673011, Kerala, India

Date of Birth/Age :

04.02.1945

Date of Appointment :

15.02.2012

DIN No.:

01855558

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	U91110KL1931NPL001527	THE MALABAR CHAMBER OF COMMERCE	Director	22/09/2006	22/09/2006	12/11/2010	Active	NO
2	U74999KL1972SGC002450	KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED	Director	15/02/2012	15/02/2012	-	Active	NO

Name :

Mr. Girees Kumar Mahadevan

Designation :

Director

Address :

Sreeragam P 96, Pattanikunniu Lane, Sasthamangalam, Trivandrum – 695010, Kerala, India

Date of Birth/Age :

25.05.1955

Date of Appointment :

15.02.2012

DIN No.:

02005189

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	U26941KL1978SGC002975	MALABAR CEMENTS LIMITED	Additional director	18/10/2011	29/08/2005	09/10/2012	Active	NO
2	U27106KL1975SGC002656	STEEL INDUSTRIALS KERALA LIMITED	Director	13/02/2012	28/09/2005	-	Active	NO
3	U01121KL2001NPL014473	VEGETABLE AND FRUIT PROMOTION COUNCIL KERALAM	Nominee director	06/06/2007	06/06/2007	-	Active	NO
4	U65910KL1998SGC012160	KERALA STATE POWER AND INFRASTRUCTURE FINANCE CORPORATION LIMITED	Director	19/12/2007	19/12/2007	-	Active	NO
5	U74999KL1972SGC002450	KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED	Director	15/02/2012	15/02/2012	-	Active	NO
6	U45203KL2000SGC014127	KERALA IRRIGATION INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Director	28/09/2013	28/09/2013	30/12/2013	Active	NO

Name :

Mr. Narayana Moorthy Nilakanta Iyer

Designation :

Director

Address :

TC 36, 184 Sri Hari Eanchakkal Pettiah Road, Trivandrum – 695008, Kerala, India

Date of Birth/Age :

10.05.1951

Date of Appointment :

15.02.2012

DIN No.:

05251681

Name :

Mr. Kurikkalot Suresh

Designation :

Director

Address :

26 3703, Gurukripa, Kozhikode – 673010, Kerala, India

Date of Birth/Age :

30.12.1949

Date of Appointment :

03.02.2012

DIN No.:

05292395

Name :

Mr. Abubaker Pulikkalakath

Designation :

Director

Address :

Are View, 19, 1404 C, Chalappuram, Calicut – 673002, Kerala, India

Date of Birth/Age :

01.07.1937

Date of Appointment :

27.03.2013

DIN No.:

06372262

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	U27310KL1984SGC003975	AUTOKAST LIMITED	Director	16/08/2012	16/08/2012	25/09/2012	Active	NO
2	U74999KL1972SGC002450	KERALA STATE ELECTRONICS DEVELOPMENT CORPORATION LIMITED	Director	27/03/2013	27/03/2013	-	Active	NO

Name :

Mr. Ramani Bhootha Lingom

Designation :

Director

Address :

15/201, Usra 5, Sree Vinneswar, Velleyambalam, Trivanrum – 695010, Kerala, India

Date of Birth/Age :

24.09.1958

Date of Appointment :

10.08.2012

DIN No.:

06385700

Name :

Mr. Avittathur Unnikrishnan

Designation :

Director

Address :

14,27 A, Lakshmi, S C Road, Thrippunithura, Kochi – 682301, Kerala, India

Date of Birth/Age :

10.10.1953

Date of Appointment :

27.03.2012

DIN No.:

06640372

KEY EXECUTIVES

Name :	Mr. Bilu Balakrishna Pillai
Designation :	Secretary
Address :	TC 27, 1743, Kavitha, Vanchiyoor, Trivandrum – 695035, Kerala, India
Date of Birth/Age :	06.06.1978
Date of Appointment :	26.06.2007
PAN No.:	AOMPB7579R
Name :	Mr. Selva Narayan
Designation :	Deputy Officer

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Governor of Kerala, India	10335961
Prasanna Kumar Chellappan	1
Gopal Chandrasekhar Gopala Pillai	1
Total	10335963

As on 27.12.2013

Names of Shareholders	No. of Shares
Governor of Kerala, India	9264037
Malabar Cements Limited, India	400000
Total	9664037

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Government (Central and State)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electronic Products.

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

Punjab National Bank, CPGP Towers, Uppalam Road, Statue Junction, Trivandrum, Kerala - 695001, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	26.600	45.800
Short Term Borrowings
Rupee term loans from banks	0.000	54.689
Total	26.600	100.489

Banking Relations :	--
Auditors :
Name :	Ranjith Karthikeyan Associates Chartered Accountants
Address :	T C 12/654, PranamThampuran Mukku, Vanchiyoor, Thiruvananthapuram, Kerala, India
PAN No.:	AACFR6968A
Subsidiary Company :	· Keltron Component Complex Limited CIN No.: L31904KL1974SGC002630 · Keltron Counters Limited CIN No.: U29299KL1964SGC00206 · Keltron Power Devices Limited CIN No.: U31200KL1979SGC002768
	·
Associates :	· Keltron Varisters Pvt Limited CIN No.: U29299KL1975PTC002684 · Sidkel Televisions Limited CIN No.: U92132KL1984SGC003941 · Keltron Entertainment Systems Limited CIN No.: U32202KL1975PLC002688 · Keltron Projectors Limited CIN No.: U29299KL1975PLC002689

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.100/- each	Rs.2000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.100/- each	Rs.2000.000 Millions

As on 31.02.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.100/- each	Rs.2000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10335963	Equity Shares	Rs.100/- each	Rs.1033.596 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	1,033.596	1,033.596
(b) Reserves & Surplus	(2,001.676)	(2,143.114)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	1,001.922	1,001.722
Total Shareholders’ Funds (1) + (2)	33.842	(107.796)
(3) Non-Current Liabilities
(a) long-term borrowings	887.184	912.584
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	1,306.323	1,281.493
(d) long-term provisions	327.265	296.184
Total Non-current Liabilities (3)	2,520.772	2,490.261
(4) Current Liabilities
(a) Short term borrowings	0.000	54.689
(b) Trade payables	1,203.445	782.730
(c) Other current liabilities	522.442	454.480
(d) Short-term provisions	105.099	60.246
Total Current Liabilities (4)	1,830.986	1,352.145
TOTAL	4,385.600	3,734.610
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	134.834	133.627
(ii) Intangible Assets	17.800	5.370
(iii) Capital work-in-progress	92.867	45.565
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	264.636	268.687
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	683.708	662.863
(e) Other Non-current assets	247.260	201.529
Total Non-Current Assets	1,441.105	1,317.641
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	258.035	226.678
(c) Trade receivables	1,859.914	1,406.605
(d) Cash and cash equivalents	576.328	506.646
(e) Short-term loans and advances	236.968	225.825
(f) Other current assets	13.250	51.215
Total Current Assets	2,944.495	2,416.969
TOTAL	4,385.600	3,734.610

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		1033.596
2] Share Application Money		118.000
3] Reserves & Surplus		(2226.954)
4] (Accumulated Losses)		0.000
NETWORTH		(1075.358)
LOAN FUNDS
1] Secured Loans		210.433
2] Unsecured Loans		2615.144
TOTAL BORROWING		2825.577
DEFERRED TAX LIABILITIES
TOTAL		1743.219
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		135.252
Capital work-in-progress		0.000
INVESTMENT		268.687
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	261.910
	Sundry Debtors	1191.305
	Cash & Bank Balances	588.328
	Other Current Assets	0.000
	Loans & Advances	885.389
Total Current Assets		2926.932
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1117.183
	Other Current Liabilities	169.422
	Provisions	302.562
Total Current Liabilities		1589.167
Net Current Assets		1337.765
MISCELLANEOUS EXPENSES		1.515
TOTAL		1743.219

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
SALES
	Income	3019.100	2569.000	2264.400
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
EXPENSES		NA	NA	NA
PROFIT/(LOSS) BEFORE TAX		NA	NA	NA
TAX		NA	NA	NA
PROFIT/(LOSS) AFTER TAX)		143.800	90.800	(228.400)
EARNINGS IN FOREIGN CURRENCY		2.661	90.258	NA
Earnings Per Share (Rs.)		13.91	NA	NA

KEY RATIOS

PARTICULARS	31.03.2012	31.03.2011	31.03.2010
Debt Equity Ratio (Total Debt /Networth)	26.22	(8.97)	(2.63)
Current Ratio (Current Asset/Current Liability)	1.61	1.79	1.84

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	1033.596	1033.596	1033.596
Reserves & Surplus	(2226.954)	(2143.114)	(2001.676)
Share Application money pending allotment	118.000	1001.722	1001.922
Net worth	(1075.358)	(107.796)	33.842
long-term borrowings	0.000	100.489	26.600
Short term borrowings	0.000	866.784	860.584
Total borrowings	0.000	967.273	887.184
Debt/Equity ratio	0.000	(8.973)	26.215

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	2,264.400	2,569.000	3,019.100
		13.452	17.520

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	2,264.400	2,569.000	3,019.100
Profit	(228.400)	90.800	143.800
	(10.09%)	3.53%	4.76%

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	No
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	No
18]	Major customers	No
19]	Payments terms	No
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	No
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

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from others	860.584	866.784
Total	860.584	866.784

FINANCIAL RESULTS:

During the year, the Company registered a turnover of Rs.3019.100 Millions as against Rs.2569.000 Millions during the previous year. The Company posted a net profit of Rs.143.800 Millions against Rs.90.800 Millions in the corresponding previous year. The net profit for the year is after adjusting provision for diminution in value of investment of Rs.4.100 Millions recognizing an extraordinary income of Rs.5.200 Millions.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10266616	25/01/2011	75,000,000.00	PUNJAB NATIONAL BANK	CPGP Towers, Uppalam Road, Statue Junction, Trivandrum, Kerala - 695001, India	B06391585
2	10176920	26/10/2009 *	90,600,000.00	Kerala Financial Corporation	Vellayambalam, Trivandrum, Trivandrum, Kerala – 695033, India	A72820624

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.58.48
UK Pound	1	Rs.698.67
Euro	1	Rs.79.81

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	KAR
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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		26

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.