MIRA INFORM REPORT

Report No. :	316615
Report Date :	27.04.2015

IDENTIFICATION DETAILS

Name :	INTECH SYSTEMS CHENNAI PRIVATE LIMITED

Registered Office :	S-2, Thiru. vi.ka. Industrial Estate, Guindy, Chennai – 600 032, Tamilnadu
Tel. No.:	91-44-43538888

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	05.03.2003

Com. Reg. No.:	18-050450

Capital Investment / Paid-up Capital :	Rs. 7.725 Million

CIN No.: [Company Identification No.]	U72200TN2003PTC050450

IEC No.:	0498038564

TAN No.: [Tax Deduction & Collection Account No.]	33100903737

PAN No.: [Permanent Account No.]	AABCI0806J

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacture of Industrial Automation products.

No. of Employees :	100 (Approximately) (In Office and Factory)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 260000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having a satisfactory track. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct. The company can be considered for normal business dealings at usual trade terms and condition.

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

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 DETAIL)

Name :	Ms. Gomati
Designation :	IT Executive
Contact No.:	91-44-45608888
Date :	91-44-43537888

LOCATIONS

Registered Office / Factory :	S-2, Thiru.vi.ka. Industrial Estate, Guindy, Chennai – 600 032, Tamilnadu, India
Tel. No.:	91-44-43538888 / 45608888
Fax No.:	91-44-43537888
E-Mail :	intech3@eth.net info@intechchennai.com
Website :	http://www.intechchennai.com
Location :	Owned

DIRECTORS

As on : 30.09.2014

Name :

Mr. Palanisamy Duraisamy

Designation :

Managing Director

Address :

G-202, Gray Shoot, No.4, Bishop Garden Extension, Amalaipuram, Chennai – 600 028, Tamilnadu, India

Date of Birth/Age :

21.05.1958

Date of Appointment :

05.03.2003

DIN No.:

00077642

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	U02102TZ1992PTC003643	KOVAI MARUTHI PAPERS AND BOARDS PRIVATE LIMITED	Director	14/02/1992	14/02/1992	-	Active	NO
2	U72200TN2003PTC050450	INTECH SYSTEMS CHENNAI PRIVATE LIMITED	Managing director	05/03/2003	05/03/2003	-	Active	NO
3	U31300KA2006PTC038745	LONGWELL ELECTRONIC (INDIA) PRIVATE LIMITED	Director	19/08/2006	19/08/2006	28/11/2011	Active	NO
4	U01112TN2011PTC080913	INTECH AGROTECH INDIA PRIVATE LIMITED	Director	02/06/2011	02/06/2011	-	Active	NO
5	U29253TN2013PTC092805	INNO Automation India Private Limited	Director	02/09/2013	02/09/2013	-	Active	NO
6	U27200TZ1985PTC001595	THEKKALUR INDUSTRIES PRIVATE LIMITED	Director	29/03/2014	29/03/2014	-	Active	NO
7	U40102TN2015PTC098926	INTECH POWER KOVAI PRIVATE LIMITED	Director	22/01/2015	22/01/2015	-	Active	NO

Name :

Mrs. Thamilarasi Duraisamy

Designation :

Managing Director

Address :

G-202, Gray Shoot, No.4, Bishop Garden Extension, R.A. Puram, Chennai – 600 028, Tamilnadu, India

Date of Birth/Age :

05.05.1959

Date of Appointment :

05.03.2003

DIN No.:

00361657

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	U72200TN2003PTC050450	INTECH SYSTEMS CHENNAI PRIVATE LIMITED	Managing director	05/03/2003	05/03/2003	-	Active	NO
2	U29253TN2014PTC098052	INTECH AUTOMATION PRIVATE LIMITED	Whole-time director	17/11/2014	17/11/2014	-	Active	NO
3	U40102TN2015PTC098926	INTECH POWER KOVAI PRIVATE LIMITED	Managing director	22/01/2015	22/01/2015	-	Active	NO

Name :

Naveen Kumar Duraiswamy

Designation :

Director

Address :

Flat No. G202 Gray Shott No.4, Bishop Garden Extn, R A Puram Chennai - 600028 Tamil Nadu India

Date of Birth/Age :

29.12.1986

Date of Appointment :

13.09.2013

DIN No.:

03525280

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	U01112TN2011PTC080913	INTECH AGROTECH INDIA PRIVATE LIMITED	Managing director	02/06/2011	02/06/2011	-	Active	NO
2	U29253TN2013PTC092805	INNO Automation India Private Limited	Managing director	02/09/2013	02/09/2013	-	Active	NO
3	U72200TN2003PTC050450	INTECH SYSTEMS CHENNAI PRIVATE LIMITED	Director	13/09/2013	13/09/2013	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Gomati
Designation :	IT Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders		No. of Shares
Palanisamy Duraisamy		40000
Bharani Kumar Duraisamy		3600
Palanisamy C.Chinnappa		1500
Pariyachi Palanisamy		1000

As on : 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacture of Industrial Automation products.

Products :	Automation Systems Sensing Solutions Meters Controllers Industrial Components Motion Control Weighing and Automation RFID and Vision Systems STI- Safety Solutions Panels and Accessories

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	L/C and Credit

Purchasing :	L/C and Credit

GENERAL INFORMATION

Suppliers :

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

Customers :

Others

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

No. of Employees :

100 (Approximately) (In Office and Factory)

Bankers :

Banker Name	State Bank of India
Branch Address	S.M.E. Guindy Branch, A-65, G.S.T. Road, Guindy, Chennai – 600032, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from Bank	1.924	0.289

SHORT TERM BORROWING
Loan repayable on Demand from Bank	7.230	21.774
Total	9.154	22.063

Auditors :
Name :	Niraimady Chartered Accountant
Address :	13/6, First Floor, Rama Rao Road, Mylapore, Chennai – 600004, Tamil Nadu, India
Mobile No.:	91-9443698904
E-Mail :	Niraimady_d@yahoo.com
PAN No.:	ALLPN4116E

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

150000	Equity Shares	Rs.100/- each	Rs.15.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

77250	Equity Shares	Rs.100/- each	Rs.7.725 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	7.725	7.725	7.725
(b) Reserves & Surplus	83.321	78.341	72.997
(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)	91.046	86.066	80.722

(3) Non-Current Liabilities
(a) long-term borrowings	1.924	0.288	1.201
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	3.023	3.372	3.777
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	4.947	3.660	4.978

(4) Current Liabilities
(a) Short term borrowings	46.945	38.933	35.407
(b) Trade payables	28.757	39.686	14.782
(c) Other current liabilities	5.675	4.159	2.174
(d) Short-term provisions	2.862	1.132	1.229
Total Current Liabilities (4)	84.239	83.910	53.592

TOTAL	180.232	173.636	139.292

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	38.655	38.335	40.761
(ii) Intangible Assets	0.000	0.000	0.000
(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	10.701	9.993	10.478
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	49.356	48.328	51.239

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	71.305	67.661	41.556
(c) Trade receivables	41.906	40.128	30.053
(d) Cash and cash equivalents	5.506	5.018	7.414
(e) Short-term loans and advances	12.159	12.501	9.030
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	130.876	125.308	88.053

TOTAL	180.232	173.636	139.292

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	232.099	220.090	221.261
	Other Income	2.734	0.527	0.744
	TOTAL (A)	234.833	220.617	222.005

Less	EXPENSES
	Cost of Materials Consumed	171.928	166.508	0.000
	Employees benefits expense	26.333	19.646	20.284
	Other expenses	17.360	20.003	17.598
	TOTAL (B)	215.621	206.157	37.882

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	19.212	14.460	184.123

Less	FINANCIAL EXPENSES (D)	7.359	4.488	6.299

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	11.853	9.972	177.824

Less	TAX (I)	4.634	4.627	173.892

	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	7.219	5.345	3.932

	IMPORTS
	Raw Materials	1.118	10.030	0.000
	TOTAL IMPORTS	1.118	10.030	0.000

	Earnings / (Loss) Per Share (Rs.)	93.45	69.19	50.90

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PARTICULARS
Net Profit Margin (PAT/Sales)	(%)	3.11	2.43	1.78

Operating Profit Margin (PBITD/Sales)	(%)	8.28	6.57	83.22

Return on Total Assets (PBT/Total Assets}	(%)	6.99	6.09	138.05

Return on Investment (ROI) (PBT/Networth)		0.13	0.12	2.20

Debt Equity Ratio (Total Debt /Networth)		0.54	0.46	0.45

Current Ratio (Current Asset/Current Liability)		1.55	1.49	1.64

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	7.725	7.725	7.725
Reserves & Surplus	72.997	78.341	83.321
Net worth	80.722	86.066	91.046

long-term borrowings	1.201	0.288	1.924
Short term borrowings	35.407	38.933	46.945
Total borrowings	36.608	39.221	48.869
Debt/Equity ratio	0.454	0.456	0.537

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	222.005	220.617	234.833
		-0.625	6.444

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	222.005	220.617	234.833
Profit	3.932	5.345	7.219
	1.77%	2.42%	3.07%

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	Yes
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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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

OPERATIONS:

During the year the company has four division namely Manufacturing, Wind Mill Share Trading, and Petrol Bank Division. There is an increase in Revenue of Rs. 12.009 Million and increase in net profit by Rs. 1.874 Million as compared to last year.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Loan repayable on Demand from others	39.715	17.160
Total	39.715	17.160

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90288047	04/06/2012 *	47,500,000.00	State Bank of India	S M E Guindy Branch, A-65, G.S.T Road, Guindy, Ch ennai, Tamil Nadu - 600032, INDIA	B42531293

FIXED ASSETS

Land
Building
Plant and Machinery
Plant Equipments-winder
Furniture and Fixture
Office Equipment
Computers
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.62.40
UK Pound	1	Rs.95.42
Euro	1	Rs.68.48

INFORMATION DETAILS

Information Gathered by :	RKS

Analysis Done by :	SUB

Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.

MIRA INFORM REPORT

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