MIRA INFORM REPORT

Report Date :

28.10.2014

IDENTIFICATION DETAILS

Name :	JCSS CONSULTING PRIVATE LIMITED (w.e.f. 24.07.2000)
Formerly Known As :	JCS HOLDINGS PRIVATE LIMITED
Registered Office :	2^nd Floor, Uniworth Plaza, No. 20, Sankey Road, Bangalore – 560020, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	03.03.1998
Com. Reg. No.:	08-023450
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U74140KA1998PTC023450
TAN No.: [Tax Deduction & Collection Account No.]	BLRJ00569C
PAN No.: [Permanent Account No.]	AAACJ8466A
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Consultancy to French Companies Setting Operations in India like Attest and Assurance, Corporate Advisory, Enterprise Support, Tax and Indirect Tax.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 217000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DECLINED BY

Name :	Mr. Anand
Designation :	Finance Head
Contact No.:	91-80-23347000
Date :	27.10.2014

LOCATIONS

Registered Office :	2^nd Floor, Uniworth Plaza, No. 20, Sankey Road, Bangalore – 560020, Karnataka, India
Tel. No. :	91-80-23347000
Fax No. :	91-80-23316852
E-Mail :	srikanths@jcssglobal.com

DIRECTORS

As on 30.09.2013

Name :

Mr. Mahaveer C. Jain

Designation :

Director

Address :

3^rd Floor, No 2 and 3 , Sharavanee Park View Apartments, Subbaramma Chetty Circle, Basavanagudi, Bangalore - 560004, Karnataka, India

Date of Birth/Age :

31.01.1972

Date of Appointment :

27.07.2000

PAN No.:

ACUPJ4664P

DIN No. :

00420940

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	U74140KA1998PTC023450	JCSS CONSULTING PRIVATE LIMITED	Director	27-07-2000	27-07-2000	-	Active	NO
2	U45201KA2005PTC057169	PRIMROSE INFRASTRUCTURE PROJECTS (INDIA) PRIVATE LIMITED	Additional director	11-12-2008	30-09-2005	09-03-2009	Active	NO
3	U93000KA2005PTC060292	MALACHITE BUSINESS SUPPORT SERVICES PRIVATE LIMITED	Additional director	11-12-2008	14-10-2005	09-03-2009	Active	NO
4	U72200KA2007PTC041464	VANU INDIA PRIVATE LIMITED	Director	11-01-2007	11-01-2007	13-09-2007	Active	NO
5	U93000KA2007PTC044321	JCSS CRESTLAW PRIVATE LIMITED	Director	06-11-2007	06-11-2007	-	Active	NO
6	U45201DL2008PTC181071	OPUS INTERNATIONAL INDIA PRIVATE LIMITED	Director	18-07-2008	18-07-2008	29-09-2008	Active	NO
7	U65999KA2008PTC047388	SCARLET INVESTMENTS PRIVATE LIMITED	Director	06-08-2008	06-08-2008	-	Active	NO
8	U72200KA2008PTC047847	BRIDGECO TECHNOLOGIES INDIA PRIVATE LIMITED	Director	24-09-2008	24-09-2008	01-06-2009	Amalgamated	NO
9	U74900KA2008PTC048694	J.LOGICOM INDIA PRIVATE LIMITED	Director	24-12-2008	24-12-2008	13-05-2009	Active	NO
10	U72900KA2009PTC049605	TELECA SOFTWARE SOLUTIONS (INDIA) PRIVATE LIMITED	Director	17-04-2009	17-04-2009	17-06-2009	Active	NO
11	U27310TN2010PTC077857	TECHNO STEEL PROCESSING INDIA PRIVATE LIMITED	Director	28-10-2010	28-10-2010	03-11-2010	Under liquidation	NO
12	U74999TN2011PTC080977	JCSS CONSULTING INDIA PRIVATE LIMITED	Director	08-06-2011	08-06-2011	-	Active	NO
13	U55101KA2012PTC064828	RADHA-RAMAN HOSPITALITY PRIVATE LIMITED	Director	16-12-2013	07-09-2012	-	Active	NO
14	U74140TN2013PTC093372	JCSS MANAGEMENT CONSULTING PRIVATE LIMITED	Director	17-10-2013	17-10-2013	-	Active	NO

Name :

Mr. Srikanth Srinivasan

Designation :

Director

Address :

No.277, 6TH B Main Road, Vishweshvariah Colony, HMT Layout, RT Nagar, Bangalore - 560032, Karnataka, India

Date of Birth/Age :

03.04.1972

Date of Appointment :

27.07.2000

PAN No. :

AESPS5289K

DIN No. :

00084104

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	U74140KA1998PTC023450	JCSS CONSULTING PRIVATE LIMITED	Director	27-07-2000	27-07-2000	-	Active	NO
2	U31200KA1990FTC010883	POLYHYDRON SYSTEMS PRIVATE LIMITED	Nominee director	02-08-2010	20-02-2001	09-02-2011	Active	NO
3	U72200KA2007PTC041464	VANU INDIA PRIVATE LIMITED	Director	11-01-2007	11-01-2007	13-09-2007	Active	NO
4	U93000KA2007PTC044321	JCSS CRESTLAW PRIVATE LIMITED	Director	19-11-2007	19-11-2007	-	Active	NO
5	U45201DL2008PTC181071	OPUS INTERNATIONAL INDIA PRIVATE LIMITED	Director	18-07-2008	18-07-2008	29-09-2008	Active	NO
6	U74900KA2008PTC048694	J.LOGICOM INDIA PRIVATE LIMITED	Director	24-12-2008	24-12-2008	13-05-2009	Active	NO
7	U27310TN2010PTC077857	TECHNO STEEL PROCESSING INDIA PRIVATE LIMITED	Director	28-10-2010	28-10-2010	03-11-2010	Under liquidation	NO
8	U29253DN2010FTC000436	TSUBAKI HOOVER INDIA PRIVATE LIMITED	Director	16-12-2010	16-12-2010	29-05-2011	Active	NO
9	U74999TN2011PTC080977	JCSS CONSULTING INDIA PRIVATE LIMITED	Director	08-06-2011	08-06-2011	-	Active	NO
10	U13200KA2012PTC063149	HYBON INPROTEC PRIVATE LIMITED	Director	21-03-2012	21-03-2012	06-04-2012	Active	NO
11	U34202KA2012PTC063877	KAWASAKI-MK INDUSTRIES INDIA PRIVATE LIMITED	Director	07-05-2012	07-05-2012	01-06-2012	Active	NO
12	U51109KA2012FTC066010	COMINIX INDIA PRIVATE LIMITED	Director	25-09-2012	25-09-2012	01-11-2012	Active	NO
13	U92412KA2012PTC066358	SFERA STUDIOS INDIA PRIVATE LIMITED	Director	18-10-2012	18-10-2012	22-01-2013	Active	NO
14	U74900KA2013PTC069529	VARISTHA STRATEGIC SOURCING PRIVATE LIMITED	Director	05-06-2013	05-06-2013	-	Active	NO
15	U74140TN2013PTC093372	JCSS MANAGEMENT CONSULTING PRIVATE LIMITED	Director	17-10-2013	17-10-2013	-	Active	NO
16	U63040KA2014PTC074914	TT BHARAT INTEGRATED LOGISTICS PRIVATE LIMITED	Director	18-06-2014	18-06-2014	28-06-2014	Active	NO
17	U28111KA2014PTC074964	TT STEEL SERVICE INDIA PRIVATE LIMITED	Director	20-06-2014	20-06-2014	28-06-2014	Active	NO
18	U01222TZ1994PLC004951	SUGUNA FOODS LIMITED	Additional director	14-07-2014	14-07-2014	-	Active	NO
19	AAB-5383	ASPIRE GLOBAL CONSULTING LLP	Designated Partner	21-05-2013	21-05-2013	28-06-2013	Active	NO
20	AAB-5383	ASPIRE GLOBAL CONSULTING LLP	Body corporate as Designated Partner	27-06-2013	27-06-2013	28-06-2013	Active	NO

Name :

Mr. Srikanth Balakrishnan

Designation :

Director

Address :

No. 354, 3^rd Cross, 9th Main, Ideal Homes Township Phase I, Mysore Road, Bangalore - 560039, Karnataka, INDIA

Date of Birth/Age :

22.05.1973

Date of Appointment :

03.03.1998

PAN No. :

ACJPB1686L

DIN No. :

00328936

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	U74140KA1998PTC023450	JCSS CONSULTING PRIVATE LIMITED	Director	03-03-1998	03-03-1998	-	Active	NO
2	U93000KA2007PTC044321	JCSS CRESTLAW PRIVATE LIMITED	Additional director	05-10-2013	06-11-2007	-	Active	NO
3	U51909KA2005PTC050069	MARKS AND SPENCER (INDIA) PRIVATE LIMITED	Director	27-09-2010	20-11-2009	-	Active	NO
4	U72900KA2007PTC041872	STG BUSINESS SERVICES INDIA PRIVATE LIMITED	Director	10-09-2010	16-08-2010	01-11-2011	Active	NO
5	U29253DN2010FTC000436	TSUBAKI HOOVER INDIA PRIVATE LIMITED	Director	16-12-2010	16-12-2010	29-05-2011	Active	NO
6	U74999TN2011PTC080977	JCSS CONSULTING INDIA PRIVATE LIMITED	Director	08-06-2011	08-06-2011	-	Active	NO
7	U72900KA2004PTC035069	FIRETIDE NETWORKS PRIVATE LIMITED	Additional director	22-11-2012	28-11-2011	10-12-2012	Active	NO
8	U34202KA2012PTC063877	KAWASAKI-MK INDUSTRIES INDIA PRIVATE LIMITED	Director	07-05-2012	07-05-2012	01-06-2012	Active	NO
9	U51109KA2012FTC066010	COMINIX INDIA PRIVATE LIMITED	Director	25-09-2012	25-09-2012	01-11-2012	Active	NO
10	U74900KA2013PTC069529	VARISTHA STRATEGIC SOURCING PRIVATE LIMITED	Director	05-06-2013	05-06-2013	-	Active	NO
11	U74140TN2013PTC093372	JCSS MANAGEMENT CONSULTING PRIVATE LIMITED	Director	17-10-2013	17-10-2013	-	Active	NO
12	AAC-3365	SAHAYAM INTERVENTION CENTRE LLP	Designated Partner	02-06-2014	02-06-2014	-	Active	NO

Name :

Mr. Jatin Anil Christopher

Designation :

Director

Address :

803-804, Embassy Habitat, 59, Palace Road, Vasanthnagar, Bangalore – 560052, Karnataka, India

Date of Birth/Age :

15.07.1974

Date of Appointment :

03.03.1998

PAN No. :

ADLPC8980D

DIN No. :

00556494

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	U29199KA1998PTC023449	TECHMEN TECHNOLOGIES PRIVATE LIMITED	Director	03-03-1998	03-03-1998	-	Strike off	NO
2	U74140KA1998PTC023450	JCSS CONSULTING PRIVATE LIMITED	Director	03-03-1998	03-03-1998	-	Active	NO
3	U45201KA2005PTC057169	PRIMROSE INFRASTRUCTURE PROJECTS (INDIA) PRIVATE LIMITED	Director	30-09-2009	30-09-2005	29-12-2012	Active	NO
4	U93000KA2005PTC060292	MALACHITE BUSINESS SUPPORT SERVICES PRIVATE LIMITED	Director	29-09-2008	14-10-2005	08-01-2013	Active	NO
5	U93000KA2007PTC044321	JCSS CRESTLAW PRIVATE LIMITED	Director	19-11-2007	19-11-2007	-	Active	NO
6	U72200KA2007PTC041973	BUBBLE MOTION RESEARCH AND DEVELOPMENT INDIA PRIVATE LIMITED	Additional director	15-03-2011	15-03-2011	30-09-2011	Active	NO
7	U74999TN2011PTC080977	JCSS CONSULTING INDIA PRIVATE LIMITED	Director	08-06-2011	08-06-2011	-	Active	NO
8	U51909KA2011FTC057447	TIME MEDICAL TECHNOLOGY PRIVATE LIMITED	Additional director	21-09-2011	21-09-2011	-	Active	NO
9	U51101KA2010FTC055098	TIME MEDICAL INDIA PRIVATE LIMITED	Director	28-10-2011	21-09-2011	-	Active	NO
10	U80904KA2013PTC070060	EFFILOR CONSULTING SERVICES PRIVATE LIMITED	Director	09-07-2013	09-07-2013	29-07-2013	Active	NO
11	U74140TN2013PTC093372	JCSS MANAGEMENT CONSULTING PRIVATE LIMITED	Director	17-10-2013	17-10-2013	-	Active	NO

Name :

Ms. Mansi Christopher

Designation :

Director

Address :

803-804, Embassy Habitat, 59, Palace Road, Vasanthnagar, Bangalore – 560052, Karnataka, India

Date of Birth/Age :

05.07.1975

Date of Appointment :

14.01.2002

PAN No. :

AEEPC3371P

DIN No. :

01924157

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	Company/ LLP Status	Defaulting status
1	U74140KA1998PTC023450	JCSS CONSULTING PRIVATE LIMITED	Director	14-01-2002	14-01-2002	Active	NO
2	U29199KA1998PTC023449	TECHMEN TECHNOLOGIES PRIVATE LIMITED	Additional director	01-09-2008	01-09-2008	Strike off	NO

Name :

Mr. Subramaniam Balakrishnan

Designation :

Director

Address :

No.354, 3^rd Cross, 9th Main, Ideal Homes Township Phase I, Mysore Road, Bangalore - 560039, Karnataka, India

Date of Birth/Age :

01.06.1937

Date of Appointment :

03.04.2002

PAN No. :

ABPPB0317D

DIN No. :

02067958

Name :

Ms. Sunitha Kumari

Designation :

Director

Address :

3^rd Floor, No. 2 & 3, Shravanee Park, View Appartments, Subbarama Chetty Circle, Basavanagudi, Bangalore – 560004, Karnataka, India

Date of Birth/Age :

11.04.1972

Date of Appointment :

14.01.2002

PAN No. :

AJXPK6370P

DIN No. :

02015023

Name :

Ms. Kamini Srikanth

Designation :

Director

Address :

No. 277, 6^th B Main Road, Vishwesvariah Colony, HMT Layout, R T Nagar, Bangalore - 560032, Karnataka, India

Date of Birth/Age :

26.09.1977

Date of Appointment :

14.01.2002

PAN No. :

ASTPS1352G

DIN No. :

02656918

KEY EXECUTIVES

Name :	Mr. Anand
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Jatin A. Christopher	1250	12.50
Mansi Christopher	1250	12.50
Mahaveer C. Jain	1250	12.50
Sunitha Kumari	1250	12.50
Srikanth Balakrishnan	1250	12.50
Preethi N.	1250	12.50
Srikanth Srinivasan	1250	12.50
Kamini Srikanth	1250	12.50
Total	10000	100.00

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing Consultancy to French Companies Setting Operations in India like Attest and Assurance, Corporate Advisory, Enterprise Support, Tax and Indirect Tax.
Brand Name :	“JCSS”

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Bank of Maharashtra, 22 Lady Curzon Road, Shivajinagar, Bangalore - 560001, Karnataka, India

· Axis Bank Limited, Trishul, 3^rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loan
From Banks (Secured against fixed deposits and hypothecation of assets financed) (Repayable at a monthly Installment of Rs. 0.190 Million plus interest @ BPLR 1.5% p.a.)	0.000	1.629
Long term maturities of finance lease obligations (Secured against hypothecation of asset financed)	1.397	2.297
SHORT TERM BORROWINGS
Loans repayable on demand From Banks (Secured against fixed deposits and sundry debtors) (Of the above Rs. 22.052 is guaranteed by directors.)	19.786	22.052
Total	21.183	25.978

Banking Relations :	--
Auditors :
Name :	Dharma Prasad G and Company Chartered Accountants
Address :	Koti Nilaya, C N road, Near Rangappa Circle, Bhadravathi - 577301, Karnataka, India
Tel. No. :	91-8282-266609
Mobile No. :	91-9880261169
Income-tax PAN of auditor or auditor's firm :	AIIPD6526E
Subsidiary Company :	JCSS Consulting India Private Limited CIN No.: U74999TN2011PTC080977

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	53.930	41.321	30.828
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.200	0.200	0.200
Total Shareholders’ Funds (1) + (2)	54.230	41.621	31.128
(3) Non-Current Liabilities
(a) long-term borrowings	1.397	3.926	5.093
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	3.850	3.850
(d) long-term provisions	3.375	2.440	1.675
Total Non-current Liabilities (3)	4.772	10.216	10.618
(4) Current Liabilities
(a) Short term borrowings	19.786	22.052	20.395
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	21.600	27.306	35.538
(d) Short-term provisions	13.831	5.370	6.068
Total Current Liabilities (4)	55.217	54.728	62.001
TOTAL	114.219	106.565	103.747
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	14.865	15.294	15.848
(ii) Intangible Assets	0.307	0.232	0.387
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.550	0.550	0.050
(c) Deferred tax assets (net)	2.631	0.345	0.179
(d) Long-term Loan and Advances	6.117	6.036	6.024
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	24.470	22.457	22.488
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	44.087	38.308	41.900
(d) Cash and cash equivalents	7.259	5.700	4.049
(e) Short-term loans and advances	38.403	40.100	35.310
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	89.749	84.108	81.259
TOTAL	114.219	106.565	103.747

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	158.382	131.947	112.343
		Other Income	1.210	1.060	0.896
		TOTAL	159.592	133.007	113.239
Less	EXPENSES
		TOTAL	NA	118.517	101.518
	PROFIT/ (LOSS) BEFORE TAX		NA	14.490	11.721
Less	TAX		NA	3.997	4.422
	PROFIT/ (LOSS) AFTER TAX		12.609	10.493	7.299
	EARNINGS IN FOREIGN CURRENCY
		Professional Services	10.010	5.628	9.448
	TOTAL EARNINGS		10.010	5.628	9.448
	Earnings / (Loss) Per Share (Rs.)		1260.88	1049.29	729.93

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	7.90	7.89	6.45
Net Profit Margin (PBT/Sales)	(%)	NA	10.98	10.43
Return on Total Assets (PBT/Total Assets}	(%)	NA	13.71	11.32
Return on Investment (ROI) (PBT/Networth)		NA	0.35	0.38
Debt Equity Ratio (Total Debt/Networth)		0.39	0.62	0.82
Current Ratio (Current Asset/Current Liability)		1.63	1.54	1.31

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	30.828	41.321	53.930
Share Application money pending allotment	0.200	0.200	0.200
Net worth	31.128	41.621	54.230
long-term borrowings	5.093	3.926	1.397
Short term borrowings	20.395	22.052	19.786
Total borrowings	25.488	25.978	21.183
Debt/Equity ratio	0.819	0.624	0.391

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	112.343	131.947	158.382
		17.450	20.035

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	112.343	131.947	158.382
Profit	7.299	10.493	12.609
	6.50%	7.95%	7.96%

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	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10089802	05/03/2009 *	21,000,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	A60372539
2	90198089	06/03/2002	595,000.00	BANK OF MAHARASHTRA	SHIVAJINAGAR BRANCH, SHIVAJINAGAR, MAHARASHTRA, INDIA	-

* Date of charge modification

OPERATIONS OVERVIEW

During the year ended 31 March 2013 the company has achieved an increase of 19.9% in revenue and 20.17% in Net Profit (after tax) compared to the previous year.

The Board is confident of improved performance and better results in the year to come.

No dividend is recommended for the year ended 31 March 2013.

FIXED ASSETS

Tangible Assets

· Computers

· Office Equipment

· Furniture

· Electrical Installation

· Leasehold Improvement

· Air Conditioner

· Professional Books

· Vehicles

Intangible Assets

· Computer Software

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.61.35
UK Pound	1	Rs.98.93
Euro	1	Rs.77.92

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RAS
Report Prepared by :	MRI

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	6
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--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		53

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.