MIRA INFORM REPORT

Report No. :	290572.2
Report Date :	15.01.2015

IDENTIFICATION DETAILS

Name :	AGS TRANSACT TECHNOLOGIES LIMITED (w.e.f. 20.07.2010)
Formerly Known As :	AGS TRANSACT TECHNOLOGIES PRIVATE LIMITED (w.e.f. 03.06.2010) AGS INFOTECH PRIVATE LIMITED
Registered Office :	601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.12.2002
Com. Reg. No.:	11-138213
Capital Investment / Paid-up Capital :	Rs.295.662 Millions
CIN No.: [Company Identification No.]	U72200MH2002PLC138213
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMA18573C
PAN No.: [Permanent Account No.]	AAECA0901H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is in the business of trading of technology-based automation solution products for the Banking, Petroleum, Colour and Retail sectors and also engaged in the business of providing of ATM Management Services for various Banks
No. of Employees :	Information denied by management

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track record. Fundamentals of the company is decent. Financial position of the company is strong and healthy. Trade relations are reported to be fair. Business is active. Payment terms are reported to be regular and as per commitment. 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.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long Term Fund Based = A
Rating Explanation	Adequate degree of safety and low credit risk
Date	December 2013

Rating Agency Name	ICRA
Rating	Short Term Fund Based = A1
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	December 2013

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 DENIED BY

Name :	Mr. Saurabh Lal
Designation :	Accounts Manager
Contact No.:	91-22-66602659
Date :	15.10.2014

LOCATIONS

Registered/ Head Office :	601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-66602659/ 67812000
Fax No.:	91-22-24935384
E-Mail :	suja.kulkarni@agsindia.com ravi_goyal@agsindia.com
Website :	http://www.agsttl.com http://www.agsindia.com
Location :	Owned
Factory 1 :	Assembling Unit Survey No.172/3, 173/3 and 173/4, Part - A, Ground Floor, Behind Olive Health Care, Atiyawad, Dabhel, Nani Daman - 396210, Daman and Diu, India
Factory 2 :	Located at Pondicherry, India
TRC Centre :	Units 19 to 21, Building No: 2, (A-3), Sector 1, Millennium Business Park, MIDC, Mahape, Navi Mumbai - 400709, Maharashtra, India
Tel. No.:	91-22-67812211
Fax No.:	91-22-67910462
Warehouse :	Plot No.1-D, CMPSC Complex, Jaspal Compound, KWC, Near Libra Kata, Kalamboli, Panvel, Navi Mumbai – 410218, Maharashtra, India
Tel. No.:	91-22-64577341
Branch Offices :	Located at: Mumbai Navi Mumbai Ahmedabad Amritsar Bangalore Chennai Chandigarh Cochin Cuttack Delhi Guwahati Hyderabad Indore Jaipur Jammu Kolkata Lucknow Patna Pune Puducherry Tirupur Surat CIT-Bangalore CIT-Cochin

DIRECTORS

As on 26.09.2014

Name :	Mr. Ravi Badrinarain Goyal
Designation :	Managing Director
Address :	203, Shreenath Niwas, Poddar Road, Santacruz (West), Mumbai – 400054, Maharashtra, India
Date of Birth/Age :	02.05.1962
Qualification :	B.E. (Electrical)
Experience :	25 Years
Date of Appointment :	11.12.2002
Election Commission Identity Card No.:	KNF1217546
PAN No.:	AACPG0726F
DIN No.:	01374288
Name :	Mr. Badrinarain Kunjbihari Goyal
Designation :	Director
Address :	204, Shreenath Niwas, Poddar Road, Santacruz (West), Mumbai – 400054, Maharashtra, India
Date of Birth/Age :	09.05.1940
Qualification :	Electronics Diploma Engineer
Date of Appointment :	11.12.2002
Election Commission Identity Card No.:	MT/08/038/0144771
DIN No.:	01679378
Name :	Mrs. Anupama Ravi Goyal
Designation :	Director
Address :	203, Shreenath Niwas, Poddar Road, Santacruz (West), Mumbai – 400054, Maharashtra, India
Date of Birth/Age :	10.09.1965
Qualification :	M.A.
Date of Appointment :	10.08.2012
PAN No.:	AACPG0725G
DIN No.:	02696453
Name :	Mr. Suraj Parkash Chaudhry
Designation :	Director
Address :	Flat No.2201, 22^nd Floor, Light Bridge, Hiranandani Meadows, Pokhran Road No.2, Thane (West) – 400610, Maharashtra, India
Date of Birth/Age :	26.08.1949
Qualification :	B.E (Mechanical) and MBA
Date of Appointment :	20.09.2010
DIN No.:	03233435
Name :	Mr. Sudip Bandyopadhyay
Designation :	Director
Address :	Ansal Heights Flat No.1801, 18^th Floor, Block - B, Worli Naka, Mumbai - 400018, Maharashtra, India
Date of Birth/Age :	06.04.1964
Qualification :	CA and Cost Accountant
Date of Appointment :	20.09.2010
DIN No.:	00007382
Name :	Mr. Vishwarupe Rajat Kumar Narain
Designation :	Nominee Director
Address :	Flat No.509, Mansarovar Building, 5/6, MT Pleasant Road, Malabar Hill, Mumbai - 400006, Maharashtra, India
Date of Birth/Age :	12.08.1974
Qualification :	MBA and Master of Tech. from IIT, Delhi
Date of Appointment :	07.06.2011
DIN No.:	03394320
Name :	Mr. Manas Tandon
Designation :	Nominee director
Address :	28, Hastings Road, Allahabad – 211001, Uttar Pradesh, India
Date of Birth/Age :	07.05.1977
Date of Appointment :	24.05.2013
DIN No.:	05254602
Name :	Mr. Nicholas Charles Luckock
Designation :	Nominee director
Address :	Southview, Church Road, Penn, HP10 8NX, UK
Date of Birth/Age :	17.11.1972
Qualification :	B.A, B. com, MBA
Date of Appointment :	30.07.2013
DIN No.:	01125446
Name :	Mr. Mahesh Ramchand Chhabria
Designation :	Nominee director
Address :	11 Golden Beach, Ruia Park, Juhu, Mumbai – 400049, Maharashtra, India
Date of Birth/Age :	19.04.1964
Qualification :	B.COM, CA
Date of Appointment :	22.11.2012
DIN No.:	00166049

KEY EXECUTIVES

Name :	Mr. Saurabh Lal
Designation :	Accounts Manager

MAJOR SHAREHOLDERS

As on 26.09.2014

Names of Equity Shareholders	No. of Shares
Ravi Badrinarain Goyal	16615078
TPG Star SF Pte Limited, Singapore	822549
Oriole Limited, Mauritius	4799353
Badrinarain Kunjbihari Goyal	187500
Anupama Ravi Goyal	4
Vimla Badrinarain Goyal	4
Kiran Badrinarain Goyal	4
Nidhi Kiran Goyal	4
Neha Ravi Goyal	4
Total	22424500

Names of Preference Shareholders	No. of Shares
TPG Star SF Pte Limited, Singapore	6991664
Oriole Limited, Mauritius	150000
Total	7141664

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

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	25.07
Directors or relatives of Directors	74.93
Total	100.00

BUSINESS DETAILS

Line of Business :	The Company is in the business of trading of technology-based automation solution products for the Banking, Petroleum, Colour and Retail sectors and also engaged in the business of providing of ATM Management Services for various Banks
Products / Services :	Technology-Based Automation Solution ATM Management Services
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT APPLICABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Information denied by management

Bankers :

• The Ratnakar Bank Limited, Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India
• Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India
• Citibank N. A., First International Financial Centre , 9th Floor, Plot No.C-54, C-55, G-Block, BKC, Bandra (East), Mumbai - 400051, Maharashtra, India
• Standard Chartered Bank, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra [East], Mumbai - 400051, Maharashtra, India
• DBS Bank Limited, 3rd Floor, Fort House, Dr. D N Road, Fort, Mumbai - 400001, Maharashtra, India
• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India
• The Hong Kong and Shanghai Banking Corporation Limited, 52/60 MG Road, Fort, Mumbai - 400001, Maharashtra, India
• Citi Bank N.A., Citigroup Centre, Bandra Kurla Complex, Bandra [East], Mumbai - 400051, Maharashtra, India
• The South Indian Bank Limited, S I B House Mission Quarterst B Road, Thrissur - 680001, Kerala, India
• Axis Bank Limited, Corporate Banking Branch, Axis House, Ground Floor, Bombay Dyeing Mills Compound, P.P. Road, Worli, Mumbai - 400025, Maharashtra, India
• ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Rupee term loans from banks	766.663	467.376
Rupee term loans from others	1431.991	198.150
SHORT TERM BORROWINGS
Working capital loans from banks	1,365.562	997.276
Total	3,564.216	1662.802

Auditors :
Name :	S R B C and Company LLP Chartered Accountants
Address :	14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar, Mumbai – 400028, Maharashtra, India
Tel. No.:	91-22-61920000
Mobile No.:	91-22-61921000
PAN No.:	ABSFS4151K
Memberships :	--
Collaborators :	--
Subsidiaries :	Global Transact Services Pte Limited India Transact Services Limited CIN No.: U72900MH2007PLC172249 Securevalue India Limited CIN No.: U74120MH2012PLC230193 Novus Technologies Pte. Limited (w.e.f. 26 November 2013)
Enterprises owned or significantly influenced by key management personnel or their Relatives :	Advanced Graphic Systems Goyal Electronic Industries AGS Sundyne Technologies India Private Limited CIN No.: U72200MH2006PTC161398 Fillon Technologies India Private Limited Instrument Research Associates Private Limited CIN No.: U24119KA1984PTC006178 K.S.Goyal Charitable Trust AGS Mega Automation Private Limited CIN No.: U72900MH2012PTC235603

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs. 10/- each	Rs.250.000 Millions
10000000	Preference Shares	Rs. 10/- each	Rs.100.000 Millions
	Total		Rs.350.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
22424500	Equity Shares	Rs. 10/- each	Rs.224.245 Millions
7141664	Preference Shares	Rs. 10/- each	Rs.71.417 Millions
	Total		Rs.295.662 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	295.662	295.662	257.417
(b) Reserves & Surplus	4,058.891	3,912.877	2,230.235
(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)	4,354.553	4,208.539	2,487.652
(3) Non-Current Liabilities
(a) long-term borrowings	2,198.654	665.526	111.339
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	35.819	9.710	0.000
(d) long-term provisions	54.456	36.253	19.032
Total Non-current Liabilities (3)	2,288.929	711.489	130.371
(4) Current Liabilities
(a) Short term borrowings	1,365.562	997.276	1,846.194
(b) Trade payables	1,508.768	1,476.141	642.904
(c) Other current liabilities	1,492.696	574.850	359.711
(d) Short-term provisions	81.378	65.539	34.022
Total Current Liabilities (4)	4,448.404	3,113.806	2,882.831
TOTAL	11,091.886	8,033.834	5,500.854
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3,070.510	2,045.909	1,305.802
(ii) Intangible Assets	120.153	152.078	125.641
(iii) Capital work-in-progress	363.593	407.240	105.301
(iv) Intangible assets under development	29.043	0.000	0.000
(b) Non-current Investments	249.093	101.003	0.503
(c) Deferred tax assets (net)	54.963	43.981	23.420
(d) Long-term Loan and Advances	1,550.213	1,065.582	711.912
(e) Other Non-current assets	247.100	3.907	10.869
Total Non-Current Assets	5,684.668	3,819.700	2,283.448
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1,488.781	1,332.990	887.985
(c) Trade receivables	2,557.734	2,316.348	1,714.151
(d) Cash and cash equivalents	54.175	98.422	176.513
(e) Short-term loans and advances	653.415	462.981	435.776
(f) Other current assets	653.113	3.393	2.981
Total Current Assets	5,407.218	4,214.134	3,217.406
TOTAL	11,091.886	8,033.834	5,500.854

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		9,493.801	6,367.095	5,116.312
		Other Income		32.373	15.745	16.100
		TOTAL (A)		9,526.174	6,382.840	5,132.412
Less	EXPENSES
		Cost of Materials Consumed		3,326.352	2,661.845	2,231.967
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(86.712)	(123.118)	88.217
		Employee Benefits Expenses		682.085	568.341	427.349
		Other Expenses		4,187.599	2,571.289	1,758.669
		Prior Period Items		0.000	0.000	44.856
		TOTAL (B)		8,109.324	5,678.357	4,551.058
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			1,416.850	704.483	581.354
Less	FINANCIAL EXPENSES (D)			552.773	246.413	281.693
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			864.077	458.070	299.661
Less	DEPRECIATION/ AMORTISATION (F)			626.108	344.752	176.565
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			237.969	113.318	123.096
Less	TAX (H)			91.872	33.855	49.463
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			146.097	79.463	73.633
	EARNINGS IN FOREIGN CURRENCY
			Export of Products	18.999	14.518	15.313
	TOTAL EARNINGS			18.999	14.518	15.313
	IMPORTS
			Raw Materials	518.616	451.615	514.291
			Stores & Spares	2211.426	557.394	46.496
			Capital Goods	2.546	74.997	57.642
	TOTAL IMPORTS			2732.588	1084.006	618.429
	Earnings / (Loss) Per Share (Rs.)
	Basic			6.51	3.76	3.92
	Diluted			4.89	2.82	3.19

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.54	1.25	1.44
Operating Profit Margin (PBDIT/Sales)	(%)	14.92	11.06	11.36
Return on Total Assets (PBT/Total Assets}	(%)	2.29	1.51	2.29
Return on Investment (ROI) (PBT/Networth)		0.05	0.03	0.05
Debt Equity Ratio (Total Debt /Networth)		0.82	0.40	0.79
Current Ratio (Current Asset/Current Liability)		1.22	1.35	1.12

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	257.417	295.662	295.662
Reserves & Surplus	2230.235	3912.877	4058.891
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2487.652	4208.539	4354.553
Long Term borrowings	111.339	665.526	2198.654
Short Term borrowings	1846.194	997.276	1365.562
Total borrowings	1957.533	1662.802	3564.216
Debt/Equity ratio	0.787	0.395	0.819

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	5,116.312	6,367.095	9,493.801
		24.447	49.107

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	5,116.312	6,367.095	9,493.801
Profit	73.633	79.463	146.097
	1.44%	1.25%	1.54%

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Rs. In Millions

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Current maturities of long term debt	545.669	173.686	46.219
Total	545.669	173.686	46.219

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	Yes
34]	External Agency Rating, if available	Yes

COMPANY OVERVIEW

The Company is a company domiciled in India and incorporated under the provisions of the Companies Act 1956 (the Act). The Company is in the business of trading of technology-based automation solution products for the Banking, Petroleum, Colour and Retail sectors. The Company is also engaged in the business of providing of ATM Management Services for various Banks

REVIEW OF OPERATIONS AND OVERALL PERFORMANCE

During the year, the Revenue from Operations increased to Rs.9493.801 Millions as compared to Rs.6367.095 Millions in the previous year registering a 49.11% increase. The Profit for the year is Rs.1460.097 Millions as compared to Rs.79.463 Millions in previous year registering a 83.86 % increase.

In continuation of the strategy to focus on ATM and Payments business, your Company will continue to explore business opportunities both in India & abroad; the Company plans to adopt both organic and inorganic strategies to further grow itself. The directors are optimistic about the performance for the year 2014-2015.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10520351	28/08/2014	300,000,000.00	Kotak Mahindra Bank Limited	27 Bkc, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra - 400051, India	C20994406
2	10518598	23/08/2014	225,000,000.00	HDFC Bank Limited	HDFC Bank House, Senapati Bapat Marg, Lower Parel  (W), Mumbai, Maharashtra - 400013, India	C19614627
3	10471898	24/12/2013	400,000,000.00	Axis Bank Limited	Corporate Banking Branch, Axis House, Ground Floor  , Bombay Dyeing Mills Compound, P.P. Road, Worli,  , Mumbai, Maharashtra - 400025, India	B94136363
4	10470911	21/01/2014 *	500,000,000.00	The South Indian Bank Limited	S I B House Mission Quarterst B Road, Thrissur, Kerala - 680001, India	B96568795
5	10435287	28/06/2013	290,000,000.00	Ge Capital Services India	401, 402, 4th Floor, Aggarwal Millennium Tower,, E-1,2,3, Netaji Subhash Place, Wazirpur,, New Delhi, Delhi - 110034, India	B78943545
6	10426618	19/05/2014 *	250,000,000.00	DBS Bank Limited	3rd Floor, Fort House,, Dr. D N Road, Fort, Mumbai, Maharashtra - 400001, India	C03891058
7	10419663	29/03/2013	1,650,000,000.00	L & T Finance Limited	L&T House,, Ballard Estate,, Mumbai, Maharashtra  - 400001, India	B73176315
8	10356196	19/05/2012	500,000,000.00	ICICI Bank Limited	Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India	B39796107
9	10305379	08/09/2011	500,000,000.00	ICICI Bank Limited	Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India	B20132775
10	10298340	26/09/2013 *	500,000,000.00	The Ratnakar Bank Limited	Shahupuri,Kolhapur,, Kolhapur, Maharashtra - 41600  1, India	B87314290
11	10272413	18/10/2011 *	500,000,000.00	Corporation Bank	104, Bharat House,, Ground Floor, B.S. Marg, Fort,, Mumbai, Maharashtra - 400023, India	B23630916
12	10225253	08/02/2011 *	200,000,000.00	Standard Chartered Bank	90, M G Road,, Fort, Mumbai, Maharashtra - 400001  , India	B05570981
13	10123885	21/08/2013 *	400,000,000.00	Yes Bank Limited	9th Floor, Nehru Centre, Discovery Of India,, Dr.  Annie Besant Road, Worli,, Mumbai, Maharashtra -  400018, India	B84717685
14	10092410	25/09/2014 *	950,000,000.00	Standard Chartered Bank	Crescenzo, 3a/F, Plot No. C-38 & 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, India	C29847142
15	10089657	28/06/2013 *	300,000,000.00	Hdfc Bank Limited	Hdfc Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B79907705
16	80007107	21/08/2013 *	650,000,000.00	Citibank N. A.	First International Financial Centre , 9th Floor,,  Plot No.C-54, C-55, G-Block, Bkc, Bandra (E), Mumbai, Maharashtra - 400051, India	B83348540

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

NEWS:

ACTIS INVESTS RS.2200.000 MILLIONS IN AGS TRANSACT TECHNOLOGIES

The proceeds will fund the ATM outsourcing expansion by AGS on behalf of banks in Himachal Pradesh, Haryana and Chandigarh

Private equity firm Actis, today announced an investment of Rs.2200.000 Millions in AGS Transact Technologie (AGS), one of the leading ATM outsourcing and payments company.

The investment by Actis, that focuses on the emerging markets, will enable AGS to strengthen its position in the ATM outsourcing space; it follows the Rs.1450.000 Millions investment by TPG in June last year, and a follow-on investment of Rs45 crore in March this year.

The proceeds will fully fund the ATM outsourcing expansion undertaken by AGS on behalf of India’s leading banks and also support roll-outs under the recent PSU contract won by AGS for the HP, Haryana and Chandigarh circle.

Founded by entrepreneur Ravi Goyal in 1992, AGS manages a network of 10,000 ATM machines across India for banking clients, as well as supplying specialised equipment, and automated solutions for major retailers, petroleum and paint companies. AGS has installed in excess of 14,000 ATMs for over 70 banks in India.

“Actis’s injection of additional capital builds upon TPG’s investment in AGS in June 2011. With two large and leading private equity firms backing the company, we are confident we will continue to maintain our leadership position in the market and our strong relationships with our customers which include leading financial institutions such as Axis Bank, ICICI Bank, HDFC Bank and Yes Bank. In addition, we are excited about our new initiatives in the hite labelling and the mobile payments space,” said Ravi Goyal, Founder of AGS.

The number of ATMs in India is forecast to increase from approximately 95,000 in 2012 to at least 200,000 in 2017. The recent white label guidelines unveiled by the Reserve Bank of India are expected to give a further fillip to ATM growth. Public sector banks, like the private banks before them, are now adopting a completely outsourced model for ATM expansion. Independent Service Organisations such as AGS are likely to play a major role in expanding this installed base.

Actis has significant experience in the payments processing sector, having built Emerging Markets Payments Holdings (EMPH) into a pan-continental payments processing business operating across 40 countries in Africa and the Middle East. Actis has invested approximately $1.2 billion in 16 companies in South Asia. Current investments include auto components manufacturer, Endurance; South Indian supermarket chain, Nilgiri’s, and hospital owner and operator Sterling Add-Life Emerging Markets Payments Holdings (‘EMPH’) was established by Actis in July 2010 to become a leading payments processor in West Asia and Africa.

Vish Narain, Country Head, India, TPG Growth: “In the one year since TPG invested, AGS has consolidated its leadership position in the ATM outsourcing space. We remain excited by its potential to dominate the ATM space but to also introduce new and innovative payment solutions for the Indian market.” 

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.62.15
UK Pound	1	Rs.94.24
Euro	1	Rs.73.30

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUB
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		50

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.