MIRA INFORM REPORT

Report No. :	315709
Report Date :	04.04.2015

IDENTIFICATION DETAILS

Name :	SASMOS HET TECHNOLOGIES LIMITED (w.e.f.04.12.2012)
Formerly Known as:	SASMOS HET TECHNOLOGIES PRIVATE LIMITED (w.e.f.19.05.2008) SASMOS EMPOWERING SOLUTION PRIVATE LIMITED
Registered Office :	Block GA, NPR Complex, Plot No.311, Survey No.197, Hoody Village, K.R. Puram Hobli, Bangalore East Taluk, Bangalore – 560 048, Karnataka
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.11.2007
Com. Reg. No.:	08-044415
Capital Investment / Paid-up Capital :	Rs. 13.514 Million
CIN No.: [Company Identification No.]	U72900KA2007PLC044415
TAN No.: [Tax Deduction & Collection Account No.]	BLRS27242F
PAN No.: [Permanent Account No.4	AALCS3539C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Aerospace, Defence, Marine Industry Production Assemblies, Wiring Harnesses, Cable Assemblies and Electrical Panels.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The company has progresses well during FY 2014. Profitability of the company is decent. General financial position of the company is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payments 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Krishnaprasad
Designation :	Account Manager
Contact No.:	91-9845181070
Date :	03.04.2015

LOCATIONS

Registered Office/ Factory :	Block GA, NPR Complex, Plot No.311, Survey No.197, Hoody Village, K.R. Puram Hobli, Bangalore East Taluk, Bangalore – 560 048, Karnataka, India
Tel. No.:	91-80-42461200 / 42461227 / 28419740
Mobile No.:	91-9845181070 (Mr. Krishnaprasad)
Fax No.:	91-80-42461300
E-Mail :	pawan.vvr@sasmos.com sales@sasmos.com secretary@sasmos.com
Website :	http://www.sasmos.com

DIRECTORS

As on 30.07.2014

Name :

Mr. Chandrashekar Govindarao Hosa Agrahara

Designation :

Managing Director

Address :

C3, 105 South City Apartments Arekere, MICO Layout, Banneraghatta Road, Bangalore – 560 076, Karnataka, India

Date of Birth/Age :

22.07.1964

Qualification :

BE

Date of Appointment :

01.04.2013

DIN No.:

01790005

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	U72200KA2007PTC044005	CITADEL HARDSOFT SOLUTIONS INDIA PRIVATE LIMITED	Managing director	12-02-09	28-09-07	-	Active	NO
2	U72900KA2007PLC044415	SASMOS HET TECHNOLOGIES LIMITED	Managing director	01-04-13	19-11-07	-	Active	NO
3	U51505KA2009PTC049079	RAY-Q INTERCONNECTION TECHNOLOGIES INDIA PRIVATE LIMITED	Director	06-02-09	06-02-09	01-06-11	Active	NO
4	U74900KA2014PLC077312	FOKKER ELMO SASMOS INTERCONNECTION SYSTEMS LIMITED	Director	18-11-14	18-11-14	-	Active	NO

Name :

Mr. Pawan Vetcha Venkatarama

Designation :

Director

Address :

Flat No. B-207, Ittina Abby Apts, L.B Shastri Nagar, Vimanapura Post, Bangalore – 506 017, Karnataka, India

Date of Birth/Age :

15.11.1977

Qualification :

B.Com, ICWA

Date of Appointment :

24.05.2013

DIN No.:

03355303

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	U72900KA2007PLC044415	SASMOS HET TECHNOLOGIES LIMITED	Whole-time director	24-05-13	30-12-10	-	Active	NO

Name :

Mr. Ganesh Lakshminarayan

Designation :

Director

Address :

Door No. 5A, Valliammai Achi Road, Kotturpuram, Chennai – 600 085, Tamilnadu, India

Date of Birth/Age :

18.03.1954

Date of Appointment :

26.07.2012

PAN No.:

00012583

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	L35999TN1936PLC002202	RANE HOLDINGS LIMITED	Managing director	01-04-14	26-06-86	-	Active	NO
2	L35999TN1964PLC005276	RANE BRAKE LININGS LIMITED	Director	26-09-86	26-09-86	-	Amalgamated	NO
3	U35999TN1987PTC014600	RANE TRW STEERING SYSTEMS Private Limited	Nominee director	03-07-87	03-07-87	-	Active	NO
4	L34103TN1967PLC005539	RANE ENGINE VALVES LIMITED	Managing director	10-04-89	10-04-89	-	Amalgamated	NO
5	L85110TN1936PLC071646	KAR MOBILES LIMITED	Director	06-01-94	06-01-94	-	Active	NO
6	L92490TN1983PLC009903	EIH ASSOCIATED HOTELS LIMITED	Director	08-08-14	23-03-94	-	Active	NO
7	U29141TN1995PTC030621	RANE NSK STEERING SYSTEMS Private Limited	Nominee director	22-03-95	22-03-95	-	Active	NO
8	U65993TN1982PLC009748	RANE INVESTMENTS LIMITED	Director	26-06-95	26-06-95	-	Amalgamated	NO
9	U51909DL1991PLC042645	JMA RANE MARKETING LIMITED	Director	26-04-97	26-04-97	-	Active	NO
10	L74999TN1972PLC006127	RANE ENGINE VALVE LIMITED	Managing director	01-04-14	29-03-99	-	Active	NO
11	L65993TN2004PLC052856	RANE (MADRAS) LIMITED	Director	31-03-04	31-03-04	-	Active	NO
12	U27104TN1996PLC060251	RANE DIECAST LIMITED	Nominee director	17-08-05	17-08-05	-	Amalgamated	NO
13	L63011TN2004PLC054948	RANE BRAKE LINING LIMITED	Director	22-07-08	18-06-07	-	Active	NO
14	L55101WB1949PLC017981	EIH LIMITED	Director	06-08-14	30-01-08	-	Active	NO
15	U72900KA2007PLC044415	SASMOS HET TECHNOLOGIES LIMITED	Director	26-07-12	03-11-11	-	Active	NO

Name :

Mr. Harsh Lakshman

Designation :

Director

Address :

G-B NO. 11, Prithvi Avenue, 2^nd Street, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

12.02.1974

Date of Appointment :

26.07.2012

DIN No.:

00012602

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	U29141TN1995PTC030621	RANE NSK STEERING SYSTEMS Private Limited	Nominee director	01-01-02	01-01-02	-	Active	NO
2	U65993TN1982PLC009748	RANE INVESTMENTS LIMITED	Director	15-09-03	15-09-03	-	Amalgamated	NO
3	U51909DL1991PLC042645	JMA RANE MARKETING LIMITED	Director	02-12-03	02-12-03	-	Active	NO
4	L65993TN2004PLC052856	RANE (MADRAS) LIMITED	Director	31-03-04	31-03-04	-	Active	NO
5	L35999TN1936PLC002202	RANE HOLDINGS LIMITED	Director	19-05-04	19-05-04	-	Active	NO
6	U27104TN1996PLC060251	RANE DIECAST LIMITED	Nominee director	17-08-05	17-08-05	-	Amalgamated	NO
7	U35999TN1987PTC014600	RANE TRW STEERING SYSTEMS Private Limited	Managing director	01-04-12	01-06-06	-	Active	NO
8	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	08-09-06	08-09-06	-	Active	NO
9	U40101TN2008PTC067780	Savithur Enterprises Private Limited	Director	16-05-08	16-05-08	-	Active	NO
10	L63011TN2004PLC054948	RANE BRAKE LINING LIMITED	Director	20-07-09	22-07-08	-	Active	NO
11	L74999TN1972PLC006127	RANE ENGINE VALVE LIMITED	Director	22-07-09	23-07-08	-	Active	NO
12	U85191KA2008PTC048722	BROADVISION SERVICES PRIVATE LIMITED	Director	29-12-08	29-12-08	-	Active	NO
13	U74900KA2008PTC048723	BROADVISION PERSPECTIVES INDIA PRIVATE LIMITED	Director	29-12-08	29-12-08	-	Active	NO
14	U70101TN2010PTC074727	HL Hill Station Properties Private Limited	Director	26-02-10	26-02-10	-	Active	NO
15	U85320TN1999NPL041989	YOUNG PRESIDENTS ORGANISATION (CHENNAI CHAPTER)	Director	02-12-13	14-09-11	-	Active	NO
16	U72900KA2007PLC044415	SASMOS HET TECHNOLOGIES LIMITED	Director	26-07-12	03-11-11	-	Active	NO
17	U74900KA2014PLC077312	FOKKER ELMO SASMOS INTERCONNECTION SYSTEMS LIMITED	Director	18-11-14	18-11-14	-	Active	NO

Name :

Mr. Paramjeet Singh.

Designation :

Whole-time director

Address :

C-303, Veracious Sonesta Apartments, Murugeshpalya, Ashoka Avenue, KR Gardens, Bangalore – 560017, Karnataka, India

Date of Birth/Age :

06.10.1966

Qualification :

Masters from Indian institute of Science, Bangalore

Date of Appointment :

24.05.2013

DIN No:

02780424

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	U72200KA2007PTC044005	CITADEL HARDSOFT SOLUTIONS INDIA PRIVATE LIMITED	Director	30-09-09	20-07-09	-	Active	NO
2	U72900KA2007PLC044415	SASMOS HET TECHNOLOGIES LIMITED	Whole-time director	24-05-13	03-11-11	-	Active	NO

Name :

Mr. Paul Eugene Cornella Krieckaert

Designation :

Director

Address :

De Koperslanger 9, Heeze, MT5591, Netherland.

Date of Birth/Age :

12.10.1956

Date of Appointment :

26.07.2012

DIN No:

02058791

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	U72200KA2007PTC044005	Citadel Hardsoft Solutions India Private Limited	Director	20-12-07	20-12-07	-	Active	NO
2	U72900KA2007PLC044415	SASMOS HET TECHNOLOGIES LIMITED	Director	26-07-12	03-11-11	27-01-15	Active	NO

KEY EXECUTIVES

Name :	Mr. Krishnaprasad
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.07.2014

Names of Shareholders	No. of Shares
Chandrashekar Govindarao Hosa Agrahara	705000
Paramjeet Singh, Bangalore	20000
Pawan Vetcha Venkatarama	15000
Harish Lakshman	10
Ganesh Lakshminarayan	10
Rane Holdings Limited, India.	351380
Lumipol International BV, Netherlands	259999
Total	1351399

Equity Share Break up (Percentage of Total Equity)

As on 30.07.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	19.24
Bodies corporate	26.00
Directors or relatives of Directors	54.76
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Aerospace, Defence, Marine Industry Production Assemblies, Wiring Harnesses, Cable Assemblies and Electrical Panels.
Products :	Aerospace Defence Marine Industry Production Assemblies Wiring Harnesses Cable Assemblies Electrical Panels
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Finished Goods
Countries :	· Israel · Singapore · US · Europe
Imports :
Products :	Raw Materials
Countries :	Israel US Europe
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name	HDFC Bank Limited
Branch	9th Floor, 115,, Dr.Radhakrishna Salai, Maylapore, Chennai - 600004, Tamil Nadu, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Working Capital Loans repayable on demand from banks	89.436	45.853
Total	89.436	45.853
Note: Short Term Borrowing from banks are secured by hypothecation of stocks, receivables and collaterally secured by hypothecation of existing plant and machinery. It is also secured by personal guarantee of two directors of the company. In addition Corporate Guarantee issued by Rane Holdings Limited (P Y Guarantee from a scheduled bank) to the extent of Rs. 30.000 Million. Short term borrowings from Bank of Baroda are secured by first charge on Project specific current Assets, including book debts and a small portion of fixed assets for executing the project specific orders and second charge on current assets charged to Canara Bank. The loan is further collaterally secured by letter of comfort from Rane Holdings Limited, Personal Guarantee of Managing Director and another director, pledge of 30% of shares of the MD in the company and negative lien on MDs house property. There has been no continuing default as on the Balance Sheet in repayment of loans and interest.

Banking Relations :	--
Auditors :
Name :	Varma and Varma Chartered Accountant
Address :	No.887, 11^th Main, 4^th Cross, HAL 2^nd Stage, Bangalore- 560008, Karnataka, India.
PAN N Income-tax PAN of auditor or auditor's firm :	AABFV9555E
Memberships :	--
Collaborators :	--
Associates:	Rane Holdings Limited
Enterprises under common management :	· Citadal Hardsoft Solutions India Private · Lumipol International BV(Citechma Industries BV, Citadel Industries BV)

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.10/- Each	Rs.15.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1351399	Equity Shares	Rs.10/- Each	Rs.13.514 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	13.514	13.514	13.514
(b) Reserves & Surplus	55.710	9.798	62.608
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	69.224	23.312	76.122
(3) Non-Current Liabilities
(a) long-term borrowings	20.000	19.940	15.000
(b) Deferred tax liabilities (Net)	3.960	3.105	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	1.713
Total Non-current Liabilities (3)	23.960	23.045	16.713
(4) Current Liabilities
(a) Short term borrowings	89.436	45.854	36.949
(b) Trade payables	96.668	70.639	75.253
(c) Other current liabilities	88.325	88.625	42.377
(d) Short-term provisions	8.373	0.304	0.187
Total Current Liabilities (4)	282.802	205.422	154.766
TOTAL	375.986	251.779	247.601
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	21.222	24.487	23.239
(ii) Intangible Assets	2.409	3.720	2.533
(iii) Capital work-in-progress	0.260	0.018	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	6.159	4.889	5.727
(d) Long-term Loan and Advances	4.967	4.967	4.967
(e) Other Non-current assets	2.418	15.068	7.681
Total Non-Current Assets	37.435	53.149	44.147
(2) Current assets
(a) Current investments	0.633	0.020	0.000
(b) Inventories	124.574	63.614	78.608
(c) Trade receivables	131.943	90.673	89.777
(d) Cash and cash equivalents	45.934	14.448	9.164
(e) Short-term loans and advances	34.211	29.325	25.691
(f) Other current assets	1.256	0.550	0.214
Total Current Assets	338.551	198.630	203.454
TOTAL	375.986	251.779	247.601

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	479.724	220.634	236.264
	Other Income	3.155	0.810	0.466
	TOTAL (A)	482.879	221.444	236.730
Less	EXPENSES
	Cost of Materials Consumed	300.072	133.896	145.976
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(32.062)	15.201	(5.010)
	Employees benefits expense	87.966	68.980	49.387
	Other expenses	58.205	35.871	37.278
	TOTAL (B)	414.181	253.948	227.631
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	68.698	(32.504)	9.099
Less	FINANCIAL EXPENSES (D)	13.676	11.704	7.829
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	55.022	(44.208)	1.270
Less/ Add	DEPRECIATION/ AMORTISATION (F)	9.825	7.764	5.727
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	45.197	(51.972)	(4.457)
Less	TAX (I)	(0.714)	0.838	(4.200)
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	45.911	(52.810)	(0.257)
	EARNINGS IN FOREIGN CURRENCY
	Export Earnings	394.541	140.245	170.9900
	TOTAL EARNINGS	394.541	140.245	170.990
	IMPORTS
	Raw Materials	252.317	74.922	105.094
	Capital Goods	1.483	1.841	1.569
	TOTAL IMPORTS	253.800	76.763	106.663
	Earnings / (Loss) Per Share (Rs.)	33.97	(39.08)	(0.22)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	9.57	(23.94)	(0.11)
Operating Profit Margin (PBIDT/Sales)	(%)	14.32	(14.73)	3.85
Return on Total Assets (PBT/Total Assets}	(%)	12.23	(21.05)	(1.84)
Return on Investment (ROI) (PBT/Networth)		0.65	(2.23)	(0.06)
Debt Equity Ratio (Total Debt /Networth)		1.58	2.82	0.68
Current Ratio (Current Asset/Current Liability)		1.20	0.97	1.31

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	13.514	13.514	13.514
Reserves & Surplus	62.608	9.798	55.710
Net worth	76.122	23.312	69.224
long-term borrowings	15.000	19.940	20.000
Short term borrowings	36.949	45.854	89.436
Total borrowings	51.949	65.794	109.436
Debt/Equity ratio	0.682	2.822	1.581

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	236.264	220.634	479.724
		(6.615)	117.430

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	236.264	220.634	479.724
Profit	(0.257)	(52.810)	45.911
	(0.11%)	(23.94%)	9.57%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

REGISTERED OFFICE CHANGE:

Registered office of the company has been shifted from 1 and 2 Floor, Supra Chambers, Plot No.P1, ITI Ancillary Industrial Estate, Dyvasandra, Whitefield Road, Mahadevapura, Bangalore – 560048, Karnataka, India to the present address w.e.f.18.01.2012.

BUSINESS:

The performance of the company during the current year has been extremely good compared to the previous year. The Company was able to generate total revenue of Rs. 482.878 Million during the year compared to the previous year figure of Rs. 221.443 Million. The major source of income was sale of products which amounted to Rs. 475.923 Million. The income from services has been Rs. 6.798 Million during this period. The major areas of operation of the company continued to be Cable Assembly and System Integration.

CONVERSION TO PUBLIC LIMITED:

As you are aware, the members of the company at the Extra Ordinary General Meeting held on 26.10.2012 gave consent to convert the company to public Limited. The register of Companies, Karnataka vide fresh certificate of incorporation consequent upon change of name on conversion to public limited company issued on 04.12.2012 approved the conversion and name of the company has been changed to SasMos HET Technologies Limited with effect from 04.12.2012 This wilt mark beginning of a new era in the history of the company

BACKGROUND OF THE COMPANY:

a) The Company was incorporated on 19th November 2007. Consequently on receiving approval from ROC the Company was converted from Private Limited to Public Limited on 4th December 2012. The primary business of the company is Manufacture and Assembly of Wiring Harnesses I Cable Assemblies, Electrical I Electronic Panels and system integration for the aerospace and defense industry.

b) The company is a Small and Medium sized company (SMC) as defined in the Companies (Accounting Standards) Rules, 2006 notified under Companies Act, 1956. Accordingly, it has complied with the Accounting Standards as applicable to a SMC.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and advances from Related Parties	20.000	19.940
Total	20.000	19.940
Note: The current year loan is taken from Rane Holdings Limited and is agreed to be repaid by 31st March 2016. The previous year loan was from Citadel Hardsoft Solutions India Private Limited, which has been partly repaid in the current year and the unpaid balance is proposed to be repaid in the next financial year and hence classified under current maturities of long term. The loan from Rane Holdings Limited is has been advanced on the personal Guarantee of the MD and Pledge of equity 2,00,000 Shares held by him in the company.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10544123	01/11/2014	200,000,000.00	HDFC BANK LIMITED	9TH FLOOR, 115,, DR.RADHAKRISHNA SALAI, MAYLAPORE , CHENNAI, TAMIL NADU - 600004, INDIA	C40943672
2	10403018	04/02/2013	60,000,000.00	BANK OF BARODA	MID CORPORATE BRANCH, 1ST FLOOR, 74, THEAGARAYA R OAD, T. NAGAR,, CHENNAI, TAMIL NADU - 600017, INDIA	B68097211

CONTINGENT LIABILITIES:

Particular	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Contingent Liabilities
Claims against the company not acknowledged as debt	1.139	1.139
B-I Bond fumished to the Excise Department (Against which a bank guarantee of Rs.2,00,000 is given)	0.000	0.600
8-17 Bond fumished to Customs Department for 100% E- OU	2.250	2.156
Performance guarantees given against which bank guarantees have been furnished	2.511	3.671
Total	5.900	6.427

FIXED ASSETS:

· Leasehold Improvement

· Plant and Equipment

· Production Tools

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computers

· Intellectual Property Rights

· 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.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	DIV
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.