MIRA INFORM REPORT

()

Report No. :	306173.2
Report Date :	02.02.2015

IDENTIFICATION DETAILS

Name :	AGMATEL INDIA PRIVATE LIMITED

Registered Office :	303, Usha Chambers, New Rajdhani Enclave, Vikas Marg, Delhi - 110092

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	15.01.1997

Com. Reg. No.:	55-084482

Capital Investment / Paid-up Capital :	Rs.5.845 Millions

CIN No.: [Company Identification No.]	U02109DL1997PTC084482

TIN No.:	07660295280

IEC No.:	0505049350

TAN No.: [Tax Deduction & Collection Account No.]	DELA08736A

PAN No.: [Permanent Account No.]	AAACA8116A

Legal Form :	Private Limited Liability Company

Line of Business :	Trader of IT and Electronic Equipments.

No. of Employees :	156 (Approximately) (In Office : 99 + In Factory : 13 + In Branch : 44)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered 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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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	ICRA
Rating	Long Term Rating = BBB- (Withdrawn)
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	June 2014

Rating Agency Name	ICRA
Rating	Short Term Rating = A3 (Withdrawn)
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	June 2014

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

Name :	Mr. Purshottam Sharma
Designation :	Manager Finance
Contact No.:	91-9313631208
Date :	31.01.2015

LOCATIONS

Registered Office :	303, Usha Chambers, New Rajdhani Enclave, Vikas Marg, Delhi – 110092, India
Tel. No.:	91-11-22010555
Mobile No.:	91-9313631208 (Mr. Purshottam Sharma)
Fax No.:	Not Available
E-Mail :	kga@vsnl.com marketing@agmatel.com
Website :	http://www.agmatel.com

Factory :	122, Patparganj Industrial Area, Delhi -110092, India
Tel. No.:	91-11-47185562
Fax No.:	91-11-47185543
Area :	7500 Sq. Ft.
Location :	Rented

Sales Office 1:	E-366, 2nd Floor Nirman Vihar, Vikas Marg, Delhi -110092, India
Tel. No.:	91-11-43064306
Fax No.:	91-11-22019833
Area :	309.32 Sq. Ft.
Location :	Owned

Sales Office 2 :	95/1 (First Floor) Near Sai Food Station, Main Road, Trikuta Nagar, Jammu-180012, India

Sales Office 3 :	158-35/3,3rd Main Road,Industrial Town, Rajaji Nagar, Bangalore – 560044, Karnataka, India

Sales Office 4 :	442 Ganpati Plaza, M.I. Road, Jaipur - 302001, Rajasthan, India

Managed Warehouses :	Located At Hyderabad Lucknow Mumbai Ahmedabad Bhopal Bhubaneswar Chennai Chandigarh Dehradun Guwahati Kolkata Rudrapur

DIRECTORS

Name :

Mr. Vijay Kumar Malhotra

Designation :

Director

Address :

137, Bank Enclave, Delhi - 110092, India

Date of Birth/Age :

16.07.1961

Qualification :

Technical Engineer

Date of Appointment :

15.01.1997

Experience :

25 Years

DIN No.:

00186924

Other Directorship:

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

U02109DL1997PTC084482

AGMATEL INDIA PRIVATE LIMITED

Director

15/01/1997

Active

U72200KA2005PTC037344

SAM INFOWAYS INDIA PRIVATE LIMITED

Director

28/09/2005

17/03/2008

Active

Name :

Mr. Anand Kumar Aggarwal

Designation :

Director

Address :

42- Ist Floor, Shankar Vihar, Delhi - 110092, India

Date of Birth/Age :

06.10.1962

Qualification :

Technical Engineer

Date of Appointment :

15.01.1997

Experience :

25 Years

DIN No.:

00186959

Other Directorship:

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

U02109DL1997PTC084482

AGMATEL INDIA PRIVATE LIMITED

Director

15/01/1997

Active

U72200KA2005PTC037344

SAM INFOWAYS INDIA PRIVATE LIMITED

Director

28/09/2005

17/03/2008

Active

KEY EXECUTIVES

Name :	Mr. Purshottam Sharma
Designation :	Manager Finance

MAJOR SHAREHOLDERS

As on 31.03.2014

Names of Shareholders	No. of Shares	% of Holding
Vijay Kumar Malhotra	256010	46.17
Anand Kumar Aggarwal	256010	46.17
Ricmon Enterprises	42500	7.66
Total	554520	100.00

BUSINESS DETAILS

Line of Business :	Trader of IT and Electronic Equipments.

Products :	Desktops Workstation Laptops of Dell Apple MacBook Projectors of Sony LI UPS of Delta Smart Phones of Samsung Testing Equipment of Key Sight Soldering Station of Weller

Brand Names :	--

Agencies Held :	Dell India Private Limited Keysight Technologies Sony India Private Limited Samsung India Private Limited

Exports :	Not Divulged

Imports :
Products :	Workstation Testing Equipment’s UPS and Rugged Laptops Touch Screen Monitors
Countries :	USA Singapore China

Terms :
Selling :	DGS and D

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Dell Singapore
Keysight Technologies
Centralion Inc.
Getac Technologies
ELO Touch

Customers :

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
Remark :	Not Divulged

No. of Employees :

156 (Approximately) (In Office : 99 + In Factory : 13 + In Branch : 44)

Bankers :

ING Vysya Bank Limited, F-22, Preet Vihar, Delhi – 110092, India

Facilities :

Rs.100.000 Millions (ING Vysya Bank Limited)

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Vehicle Loan From Banks (Secured against Hypothecation of Vehicles)	1.413	2.210
Less: Current Maturities of Long Term Debts	0.690	1.325
SHORT TERM BORROWINGS
Working Capital Loan Form Banks (Working Capital Loan from banks are secured by hypothecation of inventories and book debts)	145.373	83.219
Total	146.096	84.104


Auditors :
Name :	Khanna Gulati and Associates Chartered Accountants
Address :	171, Somdutt Chambers II, Bhikaji Cama Palace, Delhi – 110066, India
Tel. No.:	91- 11-26104222
Fax No.:	91- 11-26176352
E-Mail :	kgaca@vsnl.com

Memberships :	--

Collaborators :	--

Subsidiary Company :	Agmatel Singapore Pte Limited Address : 189, Short Street ,Singapore Line of Business : Trading of Electronics Goods

Patties where Control Exists :	Agmatel India - Partnership Firm

Associates :	Sam lnfoways India Private Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

584520	Equity Shares	Rs.10/- each	Rs.5.845 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	5.845	5.845	5.845
(b) Reserves & Surplus	235.398	209.732	171.526
(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)	241.243	215.577	177.371

(3) Non-Current Liabilities
(a) long-term borrowings	0.723	0.885	1.000
(b) Deferred tax liabilities (Net)	0.000	0.000	(0.301)
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	6.624	4.544	4.682
Total Non-current Liabilities (3)	7.347	5.429	5.381

(4) Current Liabilities
(a) Short term borrowings	145.373	83.219	76.226
(b) Trade payables	331.845	552.690	168.335
(c) Other current liabilities	23.766	33.789	17.702
(d) Short-term provisions	0.276	7.776	2.177
Total Current Liabilities (4)	501.260	677.474	264.440

TOTAL	749.850	898.480	447.192

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	33.480	30.155	15.977
(ii) Intangible Assets	0.509	0.817	0.780
(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	0.254	0.254	0.254
(c) Deferred tax assets (net)	0.919	(0.236)	0.000
(d) Long-term Loan and Advances	14.716	13.364	7.683
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	49.878	44.354	24.694

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	149.449	158.333	84.288
(c) Trade receivables	435.338	622.697	304.263
(d) Cash and cash equivalents	75.272	53.986	24.232
(e) Short-term loans and advances	30.305	9.832	4.841
(f) Other current assets	9.608	9.278	4.874
Total Current Assets	699.972	854.126	422.498

TOTAL	749.850	898.480	447.192

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		2,090.267	2,228.249	1,312.624
		Other Income		9.116	4.375	5.096
		TOTAL (A)		2,099.383	2,232.624	1,317.720

Less	EXPENSES
		Cost of Materials Consumed		40.403	58.033	20.902
		Purchase of Stock-in-trade		1,801.864	1,960.283	1,120.323
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(29.612)	(42.200)	(30.155)
		Employee Benefits Expenses		83.795	68.483	47.731
		Other Expenses		133.162	112.736	106.691
		TOTAL (B)		2,029.612	2,157.335	1,265.492

	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			69.771	75.289	52.228

Less	FINANCIAL EXPENSES (D)			28.022	12.885	10.693

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			41.749	62.404	41.535

Less	DEPRECIATION/ AMORTISATION (F)			3.033	2.180	1.749

	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			38.716	60.224	39.786

Less	TAX (H)			11.443	21.038	14.234

	PROFIT/(LOSS) AFTER TAX (G-H) (I)			27.273	39.186	25.552

Less	PRIOR PERIOD ITEMS			1.607	0.980	(0.798)

	NET PROFIT FOR THE YEAR			25.666	38.206	26.350

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			175.532	137.326	110.976

	BALANCE CARRIED TO THE B/S			201.198	175.532	137.326

	IMPORTS
			Raw Materials	15.421	23.941	NA
	TOTAL IMPORTS			15.421	23.941	NA

	Earnings / (Loss) Per Share (Rs.)			43.91	65.36	45.08

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.30	1.76	1.95

Operating Profit Margin (PBDIT/Sales)	(%)	3.34	3.38	3.98

Return on Total Assets (PBT/Total Assets}	(%)	5.17	6.70	8.90

Return on Investment (ROI) (PBT/Networth)		0.16	0.28	0.22

Debt Equity Ratio (Total Debt /Networth)		0.61	0.39	0.44

Current Ratio (Current Asset/Current Liability)		1.40	1.26	1.60

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	5.845	5.845	5.845
Reserves & Surplus	171.526	209.732	235.398
Share Application money pending allotment	0.000	0.000	0.000
Net worth	177.371	215.577	241.243

Long Term borrowings	1.000	0.885	0.723
Short Term borrowings	76.226	83.219	145.373
Total borrowings	77.226	84.104	146.096
Debt/Equity ratio	0.435	0.390	0.606

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	1,312.624	2,228.249	2,090.267
		69.755	(6.192)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	1,312.624	2,228.249	2,090.267
Profit	25.552	39.186	27.273
	1.95%	1.76%	1.30%

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	Yes
17]	Major suppliers	Yes
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	Yes

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10485114	10/03/2014 *	100,000,000.00	HDFC Bank Limited	HDFC Bank House Senapati Bapat Marg, Lower Parel, W, Mumbai, Mumbai, Maharashtra - 400013, India	C34193615
2	10355584	16/07/2013 *	150,000,000.00	Citibank N.A	Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi, Delhi - 110001 , INDIA	B80423684
3	10282406	26/10/2013 *	210,000,000.00	ING Vysya Bank Limited	F-22, Preet Vihar Vikas Marg, New Delhi, Delhi - 110092, India	B90039769
4	10287141	26/10/2013 *	210,000,000.00	ING Vysya Bank Limited	F-22,, Preet Vihar Vikas Marg, New Delhi, Delhi - 110092, India	B90039777

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.61.76
UK Pound	1	Rs.93.13
Euro	1	Rs.70.03

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	VNT

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	6
--PROFITABILITY	1~10	4
--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	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		43

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

Unit