1. Summary Information

		Country	India
Company Name	PHILIPS INDIA LIMITED	Principal Name 1	Mr. Krishnakumar Ananthasubramanian
Status	Satisfactory	Principal Name 2	Mr. Susim Mukul Datta
		Registration #	21-006663
Street Address	7, Justice Chandra Madhab Road, Kolkata – 700020, West Bengal
Established Date	31.01.1930	SIC Code	--
Telephone#	91-33-24753621/24753627/24964560/26912000 / 24867123	Business Style 1	Manufacturer of Electronic Products.
Fax #	91-33-24753839/24938722/26912499	Business Style 2	--
Homepage	www.philipsindia.com	Product Name 1	Lamps
# of employees	Not Divulged	Product Name 2	Diagnostic imaging equipments
Paid up capital	Rs. 575,172,000/-	Product Name 3	Lamps Fittings
Shareholders	Foreign holdings – 96.13% Bodies corporate – 0.07% Other top fifty shareholders - 0.46% Other - 3.32% Nationalised or other banks – 0.02%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	84 years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (54)
Related Company
Relation	Country	Company Name	CEO
Subsidiary Companies	India	Preethi Kitchen Appliances Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	15142,000,000	Current Liabilities	11186,000,000
Inventories	5637,000,000	Long-term Liabilities	603,000,000
Fixed Assets	4084,000,000	Other Liabilities	3637,000,000
Deferred Assets	437,000,000	Total Liabilities	15426,000,000
Invest& other Assets	1196,000,000	Retained Earnings	10495,000,000
		Net Worth	11070,000,000
Total Assets	26496,000,000	Total Liab. & Equity	26496,000,000
Total Assets (Previous Year)	24,865,000,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	53166,000,000	Net Profit	1228,000,000
Sales(Previous yr)	55,488,000,000	Net Profit(Prev.yr)	1,338,000,000

MIRA INFORM REPORT

Report Date :

27.03.2014

IDENTIFICATION DETAILS

Name :	PHILIPS INDIA LIMITED (w.e.f. 23.10.2013)
Formerly Known as :	PHILIPS ELECTRONICS INDIA LIMITED
Registered Office :	7, Justice Chandra Madhab Road, Kolkata – 700020, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	31.01.1930
Com. Reg. No.:	21-006663
Capital Investment / Paid-up Capital :	Rs.575.172 Millions
CIN No.: [Company Identification No.]	U31902WB1930PLC006663
TAN No.: [Tax Deduction & Collection Account No.]	MUMP17956B
PAN No.: [Permanent Account No.]	AABCP9487A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Electronic Products.
No. of Employees :	Information declined by the management.

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

Maximum Credit Limit :	USD 44300000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a subsidiary of Royal Philips of the Netherlands. It is a well-established company having satisfactory track record. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered good for normal business dealings at usual trade terms and conditions. Note : The Company has changed its financial year from 15 months (January 2011 to March 2012) to 12 months (April 2012 to March 2013).

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.2,453.2 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

Management Non Co-operative

Contact No.: 91-124-4606000

LOCATIONS

Registered Office / Eastern Regional Office:	7, Justice Chandra Madhab Road, Kolkata – 700020, West Bengal, India
Tel. No.:	91-33-24753621/24753627/24964560/26912000 / 24867123 / 44024000
Fax No.:	91-33-24753839/24938722/26912499
E-Mail :	info@philipsindia.com k.ramachandran@in.philips.com r.j.wani@philips.com rajiv.mathur@philips.com
Website :	www.philipsindia.com www.philips-star.com www.philips.com www.india.philips.com
Location :	Owned
Corporate Office / Northern Regional Office :	9th Floor, DLF 9-B, DLF Cyber City, Sector 25, DLF Phase - 3, Gurgaon - 122002, India
Tel. No.:	91-124-4606000
Fax No.:	91-124-4606666
Regional Offices / Branch :	Mumbai Technopolis Knowledge Park, Mahakali Caves Road, Chakala, Andheri (East), Mumbai - 400 093, Maharashtra, India Tel.: 91-22-6691 2000 Fax : 91-22-6691 2499 Bangalore Temple Towers - 5^th Floor, Old No. 476, New No. 672, Anna Salai, Nandanam, Chennai – 600035, Tamilnadu, India Tel. 91-44-66501000 MFAR Manyata Teck Park, Nagavara, Bangalore – 560045, Karnataka, India Tel. 91-80-41890000 The Estate, 4^th Floor (North Wing), (Next to Manipal Centre), 121, Dickenson Road, Bangalore – 560042, Karnataka, India Tel No.: 91-80-66929898 Hyderabad 6-3-1109/1/P/103, 3^rd Floor, Jewel Pawani Towers, Raj Bhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India Tel No.: 91-40-66467676 Mumbai Technopolis Knowledge Park, Mahakali Caves Road, Chakala, Andheri (East), Mumbai – 400093, India Tel. No. : 91-22-66912000 Kolkata

DIRECTORS

As on: 20.09.2013

Name :

Mr. Krishnakumar Ananthasubramanian

Designation :

Managing Director

Address :

705, The Aralias, DLF Golf Link, Gurgason – 122009, Haryana, India

Date of Birth/Age :

26.05.1971

Date of Appointment :

04.12.2013

DIN No.:

06764395

Name :

Mr. Susim Mukul Datta

Designation :

Director

Address :

No. 104 Bakhtawar, Lower Colaba Road, Opposite Colaba Post Office, Mumbai – 400005, Maharashtra, India

Date of Birth/Age :

01.07.1936

Date of Appointment :

31.03.1993

DIN No.:

00032812

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	U31902WB1930PLC006663	PHILIPS INDIA LIMITED	Director	31/03/1993	31/03/1993	-	Active	NO
2	U65991MH1995PLC087722	TATA TRUSTEE COMPANY LIMITED	Director	26/04/1995	26/04/1995	25/09/2013	Active	NO
3	L17100MH1984PLC033143	ZODIAC CLOTHING COMPANY LIMITED	Director	25/06/1996	25/06/1996	-	Active	NO
4	L23200MH1979PLC021359	CASTROL INDIA LIMITED	Director	01/07/1996	01/07/1996	-	Active	NO
5	U66010WB1932PLC007490	THE PEERLESS GENERAL FINANCE & INVESTMENT CO LTD	Director	12/08/1996	12/08/1996	-	Active	NO
6	L65999MH1986PLC147981	IL & FS INVESTMENT MANAGERS LIMITED	Director	25/09/1996	25/09/1996	-	Active	NO
7	L40200WB1935PLC008184	LINDE INDIA LIMITED	Director	12/12/1996	12/12/1996	09/02/2012	Active	NO
8	U74140MH1996PTC103158	SMD MANAGEMENT CONSULTANTS PRIVATE LIMITED	Director	10/10/1997	10/10/1997	-	Active	NO
9	U65923MH1997PTC109992	AMBIT CORPORATE FINANCE PRIVATE LIMITED	Director	07/06/1999	07/06/1999	30/11/2007	Active	NO
10	L24202MH1920PLC000825	KANSAI NEROLAC PAINTS LIMITED	Director	17/05/2000	17/05/2000	31/08/2012	Active	NO
11	L70109AP1995PLC019116	TRANSPORT CORPORATION OF INDIA LIMITED	Director	31/10/2001	31/10/2001	-	Active	NO
12	U51392WB1965PTC026344	CHANDRAS' CHEMICALS ENTERPRISES PRIVATE LTD	Director	07/01/2002	07/01/2002	-	Active	NO
13	L99999GJ1975PLC002859	ATUL LIMITED	Director	28/10/2002	28/10/2002	-	Active	NO
14	U40101KA1986PLC007404	BHORUKA POWER CORPORATION LIMITED	Director	23/12/2002	23/12/2002	-	Active	NO
15	U65929HR1998PLC037509	RABO INDIA FINANCE LIMITED	Director	01/08/2010	01/08/2004	-	Active	NO
16	U74140WB1996PTC079369	CHR Global HR Services Private Limited	Director	02/01/2006	02/01/2006	21/04/2008	Active	NO

Name :

Mr. Jan Hendrik Gerardus Louwman

Designation :

Whole-time director

Address :

Flat No. 403, The Aralias DLF Golf Links, Golf Course Road, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

16.09.1965

Date of Appointment :

01.04.2010

DIN No.:

03038202

CESSATION DIRECTORS:

Name :

Mr. Rajeev Chopra

Designation :

Managing director

Address :

D-939, New Friends Colony, New Delhi – 110065, India

Date of Birth/Age :

22.03.1963

Date of Appointment :

10.06.2011

Date of cessation :

04.12.2013

DIN No.:

03396723

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	U31902WB1930PLC006663	PHILIPS INDIA LIMITED	Managing director	10/06/2011	01/01/2011	04/12/2013	Active	NO

Name :

Mr. Subramanian Venkataramani

Designation :

Director

Address :

A 14/14, First Floor, Vasant Vihar, New Delhi – 110057, India

Date of Birth/Age :

16.06.1946

Date of Appointment :

12.06.2009

Date of cessation :

26.09.2013

DIN No.:

00231228

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	U31902WB1930PLC006663	PHILIPS INDIA LIMITED	Director	12/06/2009	04/10/2006	26/09/2013	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajiv Mathur
Designation :	Secretary
Address :	1543, Sector A, Pocket B and C, Vasant Kunj, New Delhi – 110070, Delhi, India
Date of Birth/Age :	28.08.1959
PAN No.:	AAIPM9775A
Date of Appointment :	12.07.2013

MAJOR SHAREHOLDERS

Major Shareholders – Not Available

As On 20.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	%age
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	96.13
Bodies corporate	0.07
Other top fifty shareholders	0.46
Other	3.32
Nationalised and other bank	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electronic Products.

Products :

Item Code No. (ITC Code)	Product description
8539	Lamps
90181300	Diagnostic imaging equipments
HSN 94 05	Lamps Fittings

PRODUCTION STATUS AS ON 31.12.2010

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production*
Lamps	pcs in ‘000	719,633	526,636	408,909
Glass shells	pcs in ‘000	668,000	569,951	448,245
Filaments	pcs in ‘000	1,500,000	1,050,000	598,027
Molybdenum wire	kgs	12,000	12,000	—
Diagnostic imaging equipments	pcs	NA	1,390	1,173

Note:

Licensed capacity excludes permissible increases as per various Government schemes. For delicensed industries, it includes registered capacities as per Industrial Entrepreneurs’ Memoranda filed with Government where commercial production against the same has commenced. Installed capacity is on single shift basis except for some items of lamps and lamp components and is as certified by management and has not been verified by the auditors, as it is a technical matter.

* Figures do not include wastages and internal consumption.

GENERAL INFORMATION

No. of Employees :

Information declined by the management.

Bankers :

· Punjab National Bank, 7, Bhikaji Cama Place, New Delhi – 110066, India

· Corporation Bank, Kolkata, West Bengal, India

· ABN Amro Bank N.V., Kolkata, West Bengal, India

· Standard Chartered Grindlays Bank, Kolkata, West Bengal, India

· Citibank N A, Kolkata, West Bengal, India

· Bank of America NT and SA, Kolkata, West Bengal, India

· Bank of Maharashtra, Lokmangal, 1501, Shivaji Nagar, Pune – 411 005, Maharashtra, India

· State Bank of India, CAG Branch, Jawahar Vyapar Bhawan, 11^th and 12^th Floor, 1 Tolstoy Marg, New Delhi 110001, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013 (12 Months)	As on 31.03.2012 (15 Months)
Long Term Borrowing
Long-term maturities of Finance lease obligation long-term	141.000	0.000
Working capital loans banks	0.000	6.000
Finance lease obligation long-term	0.000	164.000
Total	141.000	170.000

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountants
Address :	KMPG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India
PAN.:	AAASK1415H
Holding and ultimate holding company :	Koninklijke Philips Electronics N.V
Subsidiary Company :	· Preethi Kitchen Appliances Private Limited CIN No.: U36993MH2011PTC213827 · (PKAPL)* * Subsidiary company w.e.f. March 28, 2011.
Overseas Fellow Subsidiary Companies:	· Chicago Magnet Wire Corporation · Dameca A/S · Dynalite Intelligent Light Pty. Limited · Genlyte Thomas Group LLC · Ilti Luce S.r.l. · Philips and Yaming Lighting Company, Limited · Philips (China) Investment Company, Limited · Philips AG · Philips Argentina Sociedad Anónima · Philips Austria GmbH · Philips Automotive Lighting Hubei Company, Limited · Philips Chilena S.A. · Philips Colombiana S.A.S. · Philips Consumer Lifestyle B.V. · Philips Consumer Luminaires (Shenzhen) Company Limited · Philips Danmark A/S · Philips Deutschland GmbH · Philips do Brasil Limiteda. · Philips Egypt (Limited Liability Company) · Philips Electronics (Thailand) Limited · Philips Electronics and Lighting, Inc. · Philips Electronics Australia Limited · Philips Electronics Hong Kong Limited · Philips Electronics Japan, Limited · Philips Electronics Korea Limited · Philips Electronics Limited · Philips Electronics Nederland B.V. · Philips Electronics North America Corporation · Philips Electronics Singapore Pte Limited · Philips Electronics Technology (Shanghai) Co., Limited · Philips Electronics UK Limited · Philips Eletrônica do Nordeste S.A. · Philips Export B.V. · Philips France · Philips Healthcare (Suzhou) Company, Limited · Philips Industries Hungary Electronical Mechanical · Manufacturing and Trading Limited Liability Company · Philips Innovative Applications · Philips International B.V. · Philips IPSC Tamasi Kft. · Philips Lighting B.V. · Philips Lighting Bielsko Sp.z.o.o. · Philips Lighting Central America, Sociedad Anónima de · Capital Variable · Philips Lighting Electronics (Shanghai) Company Limited · Philips Lighting Industry (China) Company Limited · Philips Lighting Luminaires (Shanghai) Company Limited · Philips Lighting Maseru Pty. Limited · Philips Lighting Poland S.A. · Philips LumiLeds Lighting Company LLC · Philips Malaysia Sdn. Berhad · Philips Medical Systems (Cleveland), Inc. · Philips Medical Systems DMC GmbH · Philips Medical Systems MR, Inc. · Philips Medical Systems Nederland B.V. · Philips Medical Systems Technologies Limited · Philips Medizin Systeme Böblingen GmbH · Philips Mexicana, S.A. de C.V. · Philips New Zealand Limited · Philips Peruana S.A. · Philips Polska Sp.z.o.o. · Philips Solid-State Lighting Solutions, Inc. · Philips South Africa (Proprietary) Limited · Philips Taiwan Limited · Philips Technologie GmbH · Philips Ultrasound, Inc. · Philips Uruguay S.A. · Philips Warehouse and Services B.V. · PT. Philips Indonesia · Respironics, Inc. · Shenzhen Goldway Industrial Inc · Witt Biomedical Corporation ·
	·
Fellow Subsidiary :	· Philips Colombiana S.A.S. · Philips Electronics North America Corporation · Philips Lighting Central America, Sociedad Annimade Capital Variable · Respironics, Inc. · Philips Medical Systems Nederland B.V. · Philips International B.V. · Shenzhen Goldway Industrial Inc. · Philips (China) Investment Company, Limited · Philips Lighting Industry (China) Company, Limited · Philips Innovative Applications · Philips Lighting B.V. · Philips Ultrasound, Inc. · Philips Medical Systems (Cleveland), Inc. · Philips India Limited Superannuation Fund. · Philips Consumer Lifestyle B.V. · Philips Mexicana, S.A. de C.V. · Philips Electronics Nederland B.V. · Philips Electronics Singapore Private Limited Philips Electronics Hong Kong Limited
Others :	Philips Electronics India Limited Management Staff Provident Fund Trust

CAPITAL STRUCTURE

As On 20.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
92000000	Equity Shares	Rs.10/- each	Rs.920.000 Millions
20000000	Preference Shares	Rs.10/- each	Rs.200.000 Millions
	Total		Rs.1120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
57517242	Equity Shares	Rs.10/- each	Rs.575.172 Millions

As On 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
92000000	Equity Shares	Rs.10/- each	Rs.920.000 Millions
20000000	Preference Shares	Rs.10/- each	Rs.200.000 Millions
	Total		Rs.1120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
57500000	Equity Shares	Rs.10/- each	Rs.575.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013 (12 Months)
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	575.000
(b) Reserves & Surplus	10,495.000
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	11,070.000
(3) Non-Current Liabilities
(a) long-term borrowings	141.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	501.000
(d) long-term provisions	654.000
Total Non-current Liabilities (3)	1,296.000
(4) Current Liabilities
(a) Short term borrowings	462.000
(b) Trade payables	8,478.000
(c) Other current liabilities	3,136.000
(d) Short-term provisions	2,054.000
Total Current Liabilities (4)	14,130.000
TOTAL	26,496.000
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3,949.000
(ii) Intangible Assets	135.000
(iii) Capital work-in-progress	120.000
(iv) Intangible assets under development	76.000
(b) Non-current Investments	1,000.000
(c) Deferred tax assets (net)	437.000
(d) Long-term Loan and Advances	2,517.000
(e) Other Non-current assets	2,059.000
Total Non-Current Assets	10,293.000
(2) Current assets
(a) Current investments	0.000
(b) Inventories	5,637.000
(c) Trade receivables	6,946.000
(d) Cash and cash equivalents	1,221.000
(e) Short-term loans and advances	2,193.000
(f) Other current assets	206.000
Total Current Assets	16,203.000
TOTAL	26,496.000

SOURCES OF FUNDS		31.03.2012 (15 Months)	31.12.2010 (12 Months)
SHAREHOLDERS FUNDS
1] Share Capital		575.000	575.000
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		9402.000	8231.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		9977.000	8806.000
LOAN FUNDS
1] Secured Loans		170.000	102.000
2] Unsecured Loans		2133.000	0.000
TOTAL BORROWING		2303.000	102.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		12280.000	8908.000
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3703.000	3282.000
Capital work-in-progress		269.000	242.000
INVESTMENT		1000.000	0.000
DEFERREX TAX ASSETS		462.000	363.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5362.000	4131.000
	Sundry Debtors	7044.000	4161.000
	Cash & Bank Balances	1416.000	4018.000
	Other Current Assets	0.000	0.000
	Loans & Advances	5609.000	3451.000
Total Current Assets		19431.000	15761.000
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7539.000	7521.000
	Other Current Liabilities	3129.000	1335.000
	Provisions	1917.000	1884.000
Total Current Liabilities		12585.000	10740.000
Net Current Assets		6846.000	5021.000
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		12280.000	8908.000

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013 (12 Months)	31.03.2012 (15 Months)	31.12.2010 (12 Months)
	SALES
		Income	53166.000	55488.000	37002.000
		Other Income	151.000	130.000	156.000
		TOTAL	53317.000	55618.000	37158.000
Less	EXPENSES
		Cost of goods sold	---	--	21834.000
		Cost of Material Consumed	3774.000	0.000	0.000
		Purchase stock in trade	27451.000	0.000	0.000
		Changes in Inventories of finished goods	(466.000)	0.000	0.000
		Consumption materials changes inventories	---	31583.000	--
		Other Expenses	12496.000	--	13080.000
		Manufacturing service costs	---	2811.000	--
		Exceptional Items	----	(41.000)	(74.000)
		Employee related expenses	7427.000	7174.000	--
		Administrative selling other expenses	---	10473.000	--
		Research development expenditure	---	689.000	--
		Prior Period Expenses	---	--	92.000
		TOTAL	50682.000	52689.000	34932.000
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		2635.000	2929.000	2226.000
Less	FINANCIAL EXPENSES		100.000	96.000	39.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		2535.000	2833.000	2187.000
Less/ Add	DEPRECIATION/ AMORTISATION		783.000	979.000	754.000
	PROFIT BEFORE TAX, EXTRAORDINARY ITEMS		1752.000	1854.000	1433.000
Less/ Add	EXTRAORDINARY ITEMS		106.000	0.000	0.000
	PROFIT BEFORE TAX		1858.000	1854.000	1433.000
Less	TAX		630.000	516.000	544.000
	PROFIT AFTER TAX		1228.000	1338.000	889.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		5387.000	4350.000	3684.000
Less	APPROPRIATIONS
		Transfer to General Reserve	123.000	301.000	89.000
		Proposed Equity Dividend	0.000		115.000
		Tax on proposed equity dividend	0.000		19.000
	BALANCE CARRIED TO THE B/S		6492.000	5387.000	4350.000
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	4338.000	4563.000	1033.000
		Service revenue	0.000	0.000	3017.000
	TOTAL EARNINGS		4338.000	4563.000	4050.000
	IMPORTS
		Raw Materials	1406.00	1890.000	1038.000
		Stores & Spares	63.000	33.000	28.000
		Capital Goods	227.000	240.000	324.000
	TOTAL IMPORTS		1696.000	2163.000	1390.000
	Earnings Per Share (Rs.)		21.35	23.26	15.46

KEY RATIOS

PARTICULARS		31.03.2013 (12 Months)	31.03.2012 (15 Months)	31.12.2010 (12 Months)
PAT / Total Income	(%)	2.30	2.41	2.39
Net Profit Margin (PBT/Sales)	(%)	3.49	3.34	3.87
Return on Total Assets (PBT/Total Assets}	(%)	7.47	8.01	7.53
Return on Investment (ROI) (PBT/Networth)		0.17	0.19	0.16
Debt Equity Ratio (Total Debt/Networth)		0.05	0.23	0.01
Current Ratio (Current Asset/Current Liability)		1.15	1.54	1.47

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.12.2010	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	37,002.000	55,488.000	53,166.000
		49.959	(4.185)

NET PROFIT MARGIN

Year on Year Growth	31.12.2010	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	37,002.000	55,488.000	53,166.000
Profit After Tax	889.000	1,338.000	1,228.000
	2.40%	2.41%	2.31%

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	No
10]	Designation of contact person	No
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	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	Yes

BUSINESS PERFORMANCE

The Notes to the Profit and Loss Account for the year provide segment results. The required disclosure is made below for the Lighting, Consumer Lifestyle, Innovation Campus (Software) and Healthcare Sectors.

LIGHTING

The Lighting Sector grew by 13.1% for the 12 month period ending on March 31, 2013, over the corresponding period of the previous year. The growth was driven by continued channel expansion and increased extraction from the existing channels in the Consumer segment, increased LED penetration and some big wins in the Professional segment. The year 2012-13 witnessed a strong performance in conventional Lamps, tube light and Compact Fluorescent Lamps categories, with an average annualized growth of 12.7%. The market is moving towards energy efficient lighting, and Philips continues to be the leader across all segments. Driving efficiencies in distribution, increased reach in semi urban markets, planned channel expansion, and focussed marketing were the key contributors to growth in the Consumer segment. Development of locally relevant LED portfolio and enhancing the value proposition in both conventional & LED products led to annualized growth of 9.3% in Light Electronics. The year witnessed robust growth in LED across segments in Professional Lighting, and growth in Main Stream Battens. Continued focus on expanding locally relevant LED portfolio resulted in the successful launch of 28 LED/Solar products during this period. The Company’s LED contribution in Professional Lighting Solutions business now stands at 24% for the current period, with clear Leadership in LED.

Consumer Luminaires business continued the growth momentum during 2012-13 with 59% growth, driven by continuous expansion of locally relevant portfolio, the addition of 15 new brand retail stores across India and improving the efficiency of existing stores. Besides, focused marketing activities and continued investments in advertising and promotions to build category awareness and association have aided this growth.

The advertising campaigns during the year have helped us in improving our brand health. Philips Lighting India reached yet another landmark in their journey with the revamping of Lighting of the Salt Lake Stadium in Kolkata. Automotive Lighting business in India received a Special Award from Honda Motor cycles and Scooters India (P) Ltd for the quality of services and support provided to them as one of their vendors.

In 2013-14, Lighting Sector will focus on LED transformation through locally relevant LED products with very strong value propositions, continue to drive energy efficient home lighting and grow in Consumer Luminaires.

CONSUMER LIFESTYLE

In 2012-13 the sector continued to focus on strengthening market share in key focus categories such as Kitchen Appliances, Garment Care and Hair Care & Grooming. These categories combined enjoyed a growth of 9% in 2012-13.

In Domestic Appliances, we strengthened our market share and insights in Kitchen Appliances by launching products relevant for local tastes and behavior patterns. As part of our drive towards Health and Wellbeing, the launched Airfryer in India (a Philips? Patented Rapid Air Technology that uses fast-circulating hot air to create fried food containing up to 80 per cent less fat and is a healthy alternative to traditional frying). This revolutionary product hit the market in 2012-13 with great success. In Garment Care, we strengthened the leadership position by increasing the share by driving conversion of dry to steam irons and a strong marketing campaign which accelerated category growth. In 2012-13 we also launched high end coffee machines to the Indian public through our Philips Saeco brand with good success.

The continued to build the category of Personal Care in India through integrated media campaign for Hair Care and Grooming. Campaigns with celebrities like Kareena Kapoor and John Abraham have helped us not only with brand identity but also with the youth connect and recruitment strategy for business growth

In Lifestyle Entertainment, we continued our leadership position in DVD and in 2012-13 we focused on categories like Docking Systems and Headphones which demonstrated an excellent growth. Philips was a key sponsor for Sunburn festival in Goa inDecember 2012 which exposed the Indian Youth to an array of Philips audio video products and enabled us to have the youth connect for brand identity in that segment. The DJ Party Machine launched at Sunburn 2012-13 has also become a hit.

The goal remains to grow faster than the market and focus on relevant product categories that can transform Philips as a health and well-being Company that includes Personal Care, Health & Wellness, Domestic Appliances and Coffee.

The Company remains committed to launch new and relevant products in the coming years which not only suits the local consumer tastes but also meets the fast changing lifestyle needs of the Indian consumers. Additionally Consumer Lifestyle continues to focus on building talent, competencies and processes to drive sustainable profitable growth through relevant and profitable portfolio choices.

HEALTH CARE

The Healthcare business in India grew by 25% in the period ended March 31, 2013. This was primarily driven bya growth of 26% in Imaging Systems and 27% in Patient Monitoring. The Ultrasound business grew by 11% and Customer Service revenues registered a growth of 17%during the period. Philips Healthcare India has increased its market share further during the period across all product categories. The advanced to becoming the No. 1healthcare player across our total addressable market (source: COCIR). For the first time, we became No. 1 in Imaging Systems (source: COCIR).

The continue to remain the market leaders in Patient Monitoring, Sleep therapeutic devices and Non-invasive ventilators for respiratory care and Cath labs (source: COCIR). The leadership in MR and CT was achieved through continued leadership in High end MR (3.0T and premium 1.5T) and CT (premium & performance) (source: COCIR). We gained share in the nursing home space and grew the reach business significantly. The also gained significant share in all of our strategic key accounts. We are focusing on bringing more integratedsolutions to the customers to increase penetration. Solutions such as eICU, Healthcare informatics and Turnkey offerings continue to support share and profitable growth. The world class Customer Care Service Centre has achieved 30% remote resolution of all customer calls within one year from launch and significantly enhanced customer satisfaction.

The launched several new products this year that such as Clear Vue 650, Ingenuity PET/MR, high end MX series of patient monitors, a new rangeof Anaesthesia machines, Allura Clarity (low dose cathlab platform) and Multiva (a new platform in MR). the Pune factory successfully developed and launched its first set of products? Allura Centron (a cardiac interventional system) and Vectra (asurgical machine). The R&D team in Pune has several other new products in its development pipeline.

The scored as the No. 1 in brand equity across all Philips Healthcare markets assessed through the Inter brand report (Global Brand Equity Consulting Company).

Healthcare India also scored the highest in responsiveness to customers across all Philips Markets. Based on Heartbeat survey 2012-13, we remain co-leader in brand preference. Frost and Sullivan again awarded Philips Healthcare as the Best Cardiology Treatment Company of the year2012-13. We have now consistently won this award three years in a row. For the first time, we also received the Frost and Sullivan award for the Sleep Solutions Company of the year2012-13.

INNOVATION CAMPUS (PIC)

Philips Innovation Campus (PIC) based at Bangalore initially started as a Software Center and has now developed into a Product Development Center with focus on delivering meaningful innovations for local and global markets. In Healthcare, for the local markets we have recently launched Clearvue- family of Ultrasound solutions, a suite of products in the Mother and Child Care space including Warmer, Incubator, and a Consultative Critical Care solution which will increase accessibility of Healthcare in India. PIC continues to contribute to global products. It has also expanded its innovation capabilities to cater to markets like Africa and Indonesia. In Lighting, we are working on street lighting solutions and supporting software based development for Hue- a wireless lighting solution.

UNSECURED LOAN:

(Rs. In Millions)

Particulars	As on 31.03.2013 (12 Months)	As on 31.03.2012 (15 Months)
Short Term Borrowing
Loans and advances from others	462.000	0.000
Working capital loans	0.000	2133.000
Total	462.000	2133.000

VIEW INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10333948	26/12/2011	1,000,000,000.00	STATE BANK OF INDIA	CAG BRANCH, JAWAHAR VYAPAR BHAWAN, 11th & 12th FL  OOR, 1 TOLSTOY MARG, NEW DELHI, Delhi - 110001, IN  DIA	B31429764

FIXED ASSETS:

• Software
• Land
• Buildings
• Leaseholds
• Land
• Improvements
• Other assets
• Machinery and equipment
• Furniture and fittings
• Vehicles

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.58.59
UK Pound	1	Rs.98.66
Euro	1	Rs.79.81

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		54

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.