MIRA INFORM REPORT

Report Date :

22.09.2014

IDENTIFICATION DETAILS

Name :	MICROCHIP TECHNOLOGY IRELAND

Registered Office :	Block W Ground Floor East Point Business Park Dublin 3 216410

Country :	Ireland

Financials (as on) :	31.03.2012

Date of Incorporation :	13.02.2004

Com. Reg. No.:	IE381811

Legal Form :	Private Unlimited with Share Capital

Line of Business :	· Repairs of Electrical Equipment The Importation and Sale of Semi-Conductors.

No. of Employees :	14

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

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)

Ireland

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

IRELAND - ECONOMIC OVERVIEW

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property market and construction industry. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the former COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the country’s deeply troubled banking sector. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s fragile banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the new KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland has grown slowly since 2011, but managed to reduce the budget deficit to 7.2% of GDP in 2013. In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt.

Source : CIA

REGISTERED NAME

Company Name: MICROCHIP TECHNOLOGY IRELAND

Company No: IE381811

Registered Address: BLOCK W GROUND FLOOR EAST POINT BUSINESS PARK DUBLIN 3 216410

COMPANY SUMMARY

Registered Address: BLOCK W GROUND FLOOR EAST POINT BUSINESS PARK DUBLIN 3 216410

Trading Address: 1^st Floor, Block 31 Woodford Business Park, Northern Cross Santry Dubing 9

Website Address: --

Tel No.: --
Fax No: --

TPS No

FPS No

Incorporated Number: 13/02/2004

Previous Name --

Type Private Unlimited with Share Capital

Currency USD

Share Capital €11

SIC07 33140

Charity Number --

SIC07 Description Repair of Electrical Equipment

Principal Activity The Importation and Sale of Semi-Conductors. Accounts Data Converted from UB Dollaers.

DIRECTORS/MANAGEMENT

Total Current Directors	3
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	4

Current Directors

Name	NAWAZ SHARIF	Date of Birth	16/03/1970
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	13/02/2004
Address	13 KINGHORN PARK, MAIDENHEAD, BERKSHIRE, ENGLAND SL6 7TX
Other Actions	View Director Report		View AML Report

Disqualified		Disqualified End Date
Disqualification Exception	No

Name	SANDRA MARIE GRAHAM	Date of Birth	08/11/1964
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	21/09/2011
Address	91 THE VILLAGE, BETTYGLEN, RAHENY, DUBLIN 5
Other Actions	View Director Report		View AML Report

Disqualified		Disqualified End Date
Disqualification Exception	No

Name	JAMES ERIC BJORNHOLT	Date of Birth	01/08/1970
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	02/12/2013
Address	391 E VINEDO LANE, TEMPLE, ARIZONA 85284, USA
Other Actions	View Director Report		View AML Report

Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	NAWAZ SHARIF	Date of Birth	16/03/1970
Officers Title		Nationality
Present Appointments	2	Function	Company Secretary
Appointment Date	13/02/2004
Address	13 KINGHORN PARK, MAIDENHEAD, BERKSHIRE, ENGLAND SL6 7TX

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
BJORNHOLT JAMES ERIC	0	1
KIERON HAYES	17	17
GARY PAUL MARSH	0	1
GORDON WATTERS PARNELL	0	1

NEGATIVE INFORMATION

Mortgage Summary

· Total Mortgage 0

· Outstanding 0

· Satisfied 0

CJ

Total Number of Exact CJs -	Total Value of Exact CJs -	€0
Total Number of Possible CJs -	Total Value of Possible CJs -	€0
Total Number of Satisfied CJs -	Total Value of Satisfied CJs -	€0

Possible CJ Details

There are no possible CJ details

Writ Details

Unregistered - Exact CJ Details

No CJs found

Unregistered - Possible CJ Details

No CJs found

Registered - Exact CJ Details

No CJs found

Registered - Possible CJ Details

No CJs found

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MICROCHIP TECHNOLOGY JERSEY LIMITED	USD	9	ORDINARY	1	81.82
MCHP TECHNOLOGY JERSEY UNLIMITED	USD	1	DEFERRED	1	9.09
MCHP TECHNOLOGY JERSEY UNLIMITED	USD	1	ORDINARY	1	9.09

PAYMENT INFORMATION

Trade Debtors / Bad Debt Summary

· Total Number of Documented Trade 0

· Total Value of Documented Trade €0

Trade Payment Information

Average Invoice Value	n/a
Invoices available	n/a
Paid	n/a
Outstanding	n/a

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

Average Invoice Value	n/a
Invoices available	n/a
Paid	n/a
Outstanding	n/a

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid
Outstanding

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	5 companies
Linkages	15 companies
Countries	In 5 countries

Summary

Holding Company	-
Ownership Status	Intermediately Owned
Ultimate Holding Company	MICROCHIP TECHNOLOGY, INC

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
MICROCHIP TECHNOLOGY, INC		-	-	$1,581,623,000
ARIZONA MICROCHIP TECH...	03593068	31.03.2014	N
MICROCHIP TECHNOLOGY	N/A	-	-
MICROCHIP TECHNOLOGY...	IE381811	31.03.2012	N	€696,541,516
MICROCHIP LIMITED	02189500	31.03.2013	N

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	EUR	(%)	EUR	(%)	EUR	(%)	EUR	(%)	EUR
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	€696,541,516	-3.5%	€722,084,538	42.9%	€505,474,775	11.8%	€452,314,608	-7.3%	€487,789,960
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	€373,123,943	-5%	€392,750,390	46.2%	€268,625,953	19.5%	€224,753,471	-3.3%	€232,517,460
Gross Profit	€323,417,572	-1.8%	€329,334,148	39%	€236,848,822	4.1%	€227,561,136	-10.9%	€255,272,500
Wages & Salaries	€730,504	-1.5%	€741,476	25.6%	€590,347	-6%	€628,310	-4.9%	€660,686
Directors Emoluments	€335,729	-24.6%	€445,012	60.2%	€277,855	-11.9%	€315,340	-54.3%	€690,455
Operating Profit	€29,622,205	-4.5%	€31,014,084	41.8%	€21,877,351	10.8%	€19,736,090	-6.5%	€21,113,251
Depreciation	€14,939	66.2%	€8,989	-30.8%	€12,982	-63.7%	€35,774	-0.2%	€35,832
Audit Fees	€98,942	4%	€95,165	4.1%	€91,420	3.9%	€87,963	-36.3%	€138,004
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	€29,866,051	-5.1%	€31,463,364	41%	€22,311,804	5.7%	€21,114,608	-9.1%	€23,228,090
Taxation	-€3,700,323	1.3%	-€3,749,105	-31.6%	-€2,849,506	5.6%	-€3,017,102	15.8%	-€3,585,264
Profit After Tax	€26,165,728	-5.6%	€27,714,259	42.4%	€19,462,298	7.5%	€18,097,505	-7.9%	€19,642,826
Dividends Payable	€22,658,439	-71.4%	€79,304,537	-	-	-	-	-	-
Retained Profit	€3,507,288	106.8%	-€51,590,278	-365.1%	€19,462,298	7.5%	€18,097,505	-7.9%	€19,642,826

Balance Sheet

Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08
Tangible Assets	€10,772,894	0.2%	€10,751,315	-2.2%	€10,990,411	3.8%	€10,584,318	6.7%	€9,922,879
Intangible Assets	€385,882	-49.4%	€762,756	-34.8%	€1,168,997	-21.9%	€1,496,760	-14.3%	€1,747,249
Total Fixed Assets	€11,158,776	-3.1%	€11,514,070	-5.3%	€12,159,408	0.6%	€12,081,078	3.5%	€11,670,128
Stock	€87,347	-11.2%	€98,325	-30.2%	€140,882	-36.2%	€220,877	-9.5%	€244,020
Trade Debtors	€85,135,994	-2.1%	€87,003,548	29.1%	€67,368,831	58.5%	€42,511,573	-33.3%	€63,766,607
Cash	€85,815,049	-1.3%	€86,981,516	-43.3%	€153,471,918	62.8%	€94,274,101	75.8%	€53,617,881
Other Debtors	€8,207,004	4.1%	€7,882,678	-21%	€9,981,902	-9.2%	€10,994,248	16.5%	€9,434,830
Miscellaneous Current Assets	€557,737	112.8%	€262,106	-43.1%	€460,530	100.6%	€229,585	-25.9%	€309,846
Total Current Assets	€179,803,131	-1.3%	€182,228,173	-21.3%	€231,424,064	56.1%	€148,230,384	16.4%	€127,373,183
Trade Creditors	€32,976	-90.7%	€355,574	236.5%	€105,664	7%	€98,712	-71.9%	€350,979
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	€83,031,800	-1.5%	€84,288,448	-6.5%	€90,189,648	160.6%	€34,613,052	1.7%	€34,046,880
Miscellaneous Current Liabilities	€33,830,010	-12.2%	€38,515,351	37.8%	€27,946,907	17.8%	€23,731,992	-9.9%	€26,336,145
Total Current Liabilities	€116,894,786	-5.1%	€123,159,373	4.2%	€118,242,218	102.3%	€58,443,756	-3.8%	€60,734,003
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08
Called Up Share Capital	€1	-	€1	-2.6%	€1	4.1%	€1	7.2%	€1
P & L Account Reserve	€63,375,558	5.8%	€59,891,307	-47.6%	€114,374,166	25.3%	€91,315,331	33.4%	€68,442,896
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	€10,691,562	-	€10,691,562	-2.5%	€10,967,087	3.9%	€10,552,374	7%	€9,866,411
Shareholder Funds	€74,067,121	4.9%	€70,582,870	-43.7%	€125,341,254	23%	€101,867,706	30.1%	€78,309,308

Other Financial Items

Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08
Net Worth	€73,681,239	5.5%	€69,820,115	-43.8%	€124,172,257	23.7%	€100,370,946	31.1%	€76,562,059
Working Capital	€62,908,345	6.5%	€59,068,800	-47.8%	€113,181,846	26.1%	€89,786,628	34.7%	€66,639,180
Total Assets	€190,961,907	-1.4%	€193,742,243	-20.5%	€243,583,472	51.9%	€160,311,462	15.3%	€139,043,311
Total Liabilities	€116,894,786	-5.1%	€123,159,373	4.2%	€118,242,218	102.3%	€58,443,756	-3.8%	€60,734,003
Net Assets	€74,067,121	4.9%	€70,582,870	-43.7%	€125,341,254	23%	€101,867,706	30.1%	€78,309,308

Cash Flow

Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	€74,067,121	4.9%	€70,582,870	-43.7%	€125,341,254	23%	€101,867,706	30.1%	€78,309,308
Number of Employees	14	-	14	7.7%	13	-7.1%	14	-	14
Auditors	ERNST & YOUNG
Auditor Comments	The audit report contains no adverse comments
Bankers	J P MORGAN
Bank Branch Code	60-95-76

Ratios

Date Of Accounts	31/03/12	31/03/11	31/03/10	31/03/09	31/03/08
Pre-tax profit margin %	4.29	4.36	4.41	4.67	4.76
Current ratio	1.54	1.48	1.96	2.54	2.10
Sales/Net Working Capital	11.07	12.22	4.47	5.04	7.32
Gearing %	0	0	0	0	0
Equity in %	38.90	36.60	51.70	64.10	57
Creditor Days	0.01	0.17	0.07	0.07	0.26
Debtor Days	44.49	43.85	48.51	34.21	47.58
Liquidity/Acid Test	1.53	1.47	1.95	2.53	2.09
Return On Capital Employed %	40.32	44.57	17.80	20.72	29.66
Return On Total Assets Employed %	15.63	16.23	9.15	13.17	16.70
Current Debt Ratio	1.57	1.74	0.94	0.57	0.77
Total Debt Ratio	1.57	1.74	0.94	0.57	0.77
Stock Turnover Ratio %	0.01	0.01	0.02	0.04	0.05
Return on Net Assets Employed %	40.32	44.57	17.80	20.72	29.66

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Enquiries Trend

There have been 15 enquiries in the last 12 months.

There are an average of 1 reports taken each month.

	3 MONTHS	6 MONTHS	9 MONTHS
Enquiries	4	8	13

Status History

No Status History found

Event History

Date	Description
31/01/2014	Annual Returns
02/12/2013	New Board Member (JAMES ERIC BJORNHOLT) appointed
28/11/2013	BJORNHOLT JAMES ERIC has left the board
29/01/2013	Annual Returns
29/01/2013	New Accounts Filed
29/01/2013	New Accounts Filed
26/01/2012	Annual Returns
26/01/2012	New Accounts Filed
26/01/2012	New Accounts Filed
21/09/2011	GARY PAUL MARSH has left the board
21/09/2011	New Board Member (SANDRA MARIE GRAHAM) appointed
21/01/2011	Annual Returns
21/01/2011	New Accounts Filed
21/01/2011	New Accounts Filed
21/01/2010	Annual Returns

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Commentary

No comments to display

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.81
UK Pound	1	Rs.100.06
Euro	1	Rs.78.47

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	NIT

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	--

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%)

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.

Name	Number	Latest Key Financials	Turnover
MICROCHIP TECHNOLOGY (NETHERLANDS) EUROPE B.V.	33236121	31.03.2013
SILICON STORAGE TECHNOLOGY B.V.	50972472	31.03.2013
MICROCHIP TECHNOLOGY GMBH	HRB 85450	31.03.2013
K2L GMBH & CO. KG	HRA 100781	-
G2 MICROSYSTEMS, INC		-
SYMWAVE INC		-	$1,100,000
SST COMMUNICATIONS CORP		-
SUPERTEX, INC		-
SILICON STORAGE TECHNOLOGY, INC		-	$1,390,000,000
ROVING NETWORKS, INC		-
BRIDGECO, INC		-
R & E INTERNATIONAL CORP		-	$5,000,000
STANDARD MICROSYSTEMS CORP		-	$325,496,000
MICROCHIP TECHNOLOGY (BARBADOS		-
MICROCHIP TECHNOLOGY (THAILAND		-

MIRA INFORM REPORT

REGISTERED NAME

COMPANY SUMMARY

DIRECTORS/MANAGEMENT

NEGATIVE INFORMATION

Mortgage Summary

CJ

Possible CJ Details

Writ Details

Unregistered - Exact CJ Details

Unregistered - Possible CJ Details

Registered - Exact CJ Details

Registered - Possible CJ Details

SHARE & SHARE CAPITAL INFORMATION

PAYMENT INFORMATION

Trade Debtors / Bad Debt Summary

Trade Payment Information

GROUP STRUCTURE & AFFILIATED COMPANIES

Other Linked companies

FINANCIAL INFORMATION

Profit & Loss

Balance Sheet

Capital & Reserves

Other Financial Items

Cash Flow

Miscellaneous

Ratios

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Enquiries Trend

Status History

Event History

Previous Company Names

NOTES & COMMENTS

Commentary

Unit