MIRA INFORM REPORT

Report No. :	305348
Report Date :	30.01.2015

IDENTIFICATION DETAILS

Name :	KPMG RESOURCE CENTRE PRIVATE LIMITED
Registered Office :	1^st Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	25.05.2005
Com. Reg. No.:	11-153503
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U74140MH2005PTC153503
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCK6099G
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of providing advisory services inter alia in the fields of strategy, infrastructure, performance improvement, competitiveness, leapfrog strategies, transition management, enabling technologies, e-commerce, systems integration and software services, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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 good track record. The rating reflects company sound financial risk profile marked by healthy reserves position and decent profitability of the company. Trade relations are reported as 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.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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

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.

LOCATIONS

Registered Office :	1^st Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India
Tel. No. :	91-22-39896000
Fax No. :	91-22-39836000
E-Mail :	harshgoyal@kpmg.com
Website :

DIRECTORS

As on 29.09.2014

Name :

Mr. Natrajh Ramakrishna

Designation :

Director

Address :

1503, Odyssey II, 15^th Floor, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India

Date of Birth/Age :

28.05.1965

Date of Appointment :

29.09.2014

DIN No. :

06597041

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	U74140HR2010PTC041413	KPMG GLOBAL SERVICES PRIVATE LIMITED	Director	29-09-2014	11-11-2013	-	Active	NO
2	U93000HR2012PTC047387	KPMG GLOBAL SERVICES MANAGEMENT PRIVATE LIMITED	Director	29-09-2014	11-11-2013	-	Active	NO
3	U74140MH2005PTC153503	KPMG RESOURCE CENTRE PRIVATE LIMITED	Director	29-09-2014	11-11-2013	-	Active	NO
4	U74140MH1994PTC077060	KPMG INDIA PRIVATE LIMITED	Director	29-09-2014	11-11-2013	-	Active	NO
5	U74140MH1999PTC122186	KPMG ADVISORY SERVICES PRIVATE LIMITED	Director	29-09-2014	11-11-2013	-	Active	NO
6	AAB-8181	BSR & CO. LLP	Designated Partner	14-10-2013	14-10-2013	31-10-2013	Active	NO
7	AAB-8182	BSR & ASSOCIATES LLP	Designated Partner	14-10-2013	14-10-2013	31-10-2013	Active	NO
8	AAA-1964	KPMG INDIA SERVICES LLP	Designated Partner	18-11-2013	18-11-2013	-	Active	NO

Name :

Vanessa Anne Sharp

Designation :

Director

Address :

602 Rowan House, 9 Greycoat Street, London, SW1P2QD, United Kingdom

Date of Birth/Age :

23.08.1966

Date of Appointment :

23.09.2013

DIN No. :

06692895

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	Company/ LLP Status	Defaulting status
1	U74140MH2005PTC153503	KPMG RESOURCE CENTRE PRIVATE LIMITED	Director	23-09-2013	18-09-2013	Active	NO

Name :

Mr. David Malcolm Crookston

Designation :

Director

Address :

70 Cloudesley Road, London, N10EB, United Kingdom

Date of Birth/Age :

12.09.1959

Date of Appointment :

29.09.2014

DIN No. :

06846099

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	Company/ LLP Status	Defaulting status
1	U74140MH2005PTC153503	KPMG RESOURCE CENTRE PRIVATE LIMITED	Director	29-09-2014	06-03-2014	Active	NO

Name :

Mr. Arjun Vaidyanathan

Designation :

Director

Address :

1803-B Safal Twins CHS Limited, Punjabwadi S T Road, Opposite Saras Bungalow, Chembur, Mumbai - 400088, Maharashtra, India

Date of Birth/Age :

17.04.1969

Date of Appointment :

29.09.2014

DIN No. :

06943589

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	Company/ LLP Status	Defaulting status
1	U74140MH2005PTC153503	KPMG RESOURCE CENTRE PRIVATE LIMITED	Director	29-09-2014	04-09-2014	Active	NO

Name :

Lorraine Margaret Bennett

Designation :

Managing director

Address :

Flat No 714, 14^th Floor, Tower 7, The Aralias, DLF Phase-5, Gurgaon - 122001, Haryana, India

Date of Appointment :

21.11.2014

DIN No. :

07023771

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	Company/ LLP Status	Defaulting status
1	U74140MH2005PTC153503	KPMG RESOURCE CENTRE PRIVATE LIMITED	Managing director	21-11-2014	21-11-2014	Active	NO
2	U74140HR2010PTC041413	KPMG GLOBAL SERVICES PRIVATE LIMITED	Managing director	06-01-2015	06-01-2015	Active	NO

KEY EXECUTIVES

Name :	Mr. Manish Sarwal
Designation :	Assistant Manager
Name :	Thijs Bodaar
Designation :	Supervisory

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
KPMG Holdings Limited, UK	5000	50.00
KPMG Advisory Services Private Limited, India	5000	50.00
Total	10000	100.00

As on 29.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings (Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of providing advisory services inter alia in the fields of strategy, infrastructure, performance improvement, competitiveness, leapfrog strategies, transition management, enabling technologies, e-commerce, systems integration and software services, etc.

Products :

Item Code No. (ITC Code)	Product Description
99831110	Strategic Management Consulting Services

Brand Names :

--

Agencies Held :

--

Exports :

--

Imports :

--

Terms :

--

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Available

Customers :

Not Available

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Long term maturities of finance lease obligations (Secured by way of hypothecation on respective leased assets)	8.039	2.023
Total	8.039	2.023

Banking Relations :	--
Auditors :
Name :	Sharma Goel and Company LLP Chartered Accountants
Address :	A-47, Lower Ground Floor, Hauz Khas, New Delhi – 110016, India
Income-tax PAN of auditor or auditor's firm :	AABFS1604B
Memberships :	--
Collaborators :	--
Related Parties :	· KPMG Global Services Private Limited CIN No.: U74140HR2010PTC041413 KPMG Advisory Services Private Limited CIN No.: U74140MH1999PTC122186 KPMG Global Services Management Private Limited CIN No.: U93000HR2012PTC047387 KPMG LLP UK

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
900,000	Equity Shares	Rs.10/- each	Rs. 9.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

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	0.100	0.100	0.100
(b) Reserves & Surplus	154.867	98.794	73.823
(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)	154.967	98.894	73.923
(3) Non-Current Liabilities
(a) long-term borrowings	8.039	2.023	1.645
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	22.492	3.884	3.288
Total Non-current Liabilities (3)	30.531	5.907	4.933
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	183.049	82.237	34.737
(c) Other current liabilities	177.774	38.146	19.771
(d) Short-term provisions	74.904	60.211	21.489
Total Current Liabilities (4)	435.727	180.594	75.997
TOTAL	621.225	285.395	154.853
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12.332	4.547	3.378
(ii) Intangible Assets	0.503	0.000	0.085
(iii) Capital work-in-progress	0.629	0.000	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)	18.399	7.562	3.953
(d) Long-term Loan and Advances	19.683	0.255	1.251
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	51.546	12.364	8.667
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	38.227	111.663	55.291
(d) Cash and cash equivalents	230.809	9.342	20.264
(e) Short-term loans and advances	154.236	98.213	60.109
(f) Other current assets	146.407	53.813	10.522
Total Current Assets	569.679	273.031	146.186
TOTAL	621.225	285.395	154.853

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	835.860	540.270	284.894
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		155.828	95.510	58.135
Less/ Add	DEPRECIATION/ AMORTISATION		4.521	2.732	4.430
	PROFIT/ (LOSS) BEFORE TAX		151.307	92.778	53.705
Less	TAX		51.503	25.291	20.872
	PROFIT/ (LOSS) AFTER TAX		99.804	67.487	32.833
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		61.042	42.820	26.185
Less	APPROPRIATIONS
		Transfer to General Reserve	9.980	6.749	3.283
		Proposed equity dividend	37.378	36.581	11.112
		Tax on proposed equity dividend	6.353	5.935	1.803
	BALANCE CARRIED TO THE B/S		107.135	61.042	42.820
	EARNINGS IN FOREIGN CURRENCY		835.860	493.855	422.442
	Earnings / (Loss) Per Share (Rs.)		9980.40	6748.70	3283.30

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	11.94	12.49	11.52
Return on Total Assets (PBT/Total Assets}	(%)	25.13	33.39	35.59
Return on Investment (ROI) (PBT/Networth)		0.98	0.94	0.73
Debt Equity Ratio (Total Debt/Networth)		0.05	0.02	0.02
Current Ratio (Current Asset/Current Liability)		1.31	1.51	1.92

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	0.100	0.100	0.100
Reserves & Surplus	73.823	98.794	154.867
Net worth	73.923	98.894	154.967
long-term borrowings	1.645	2.023	8.039
Short term borrowings	0.000	0.000	0.000
Total borrowings	1.645	2.023	8.039
Debt/Equity ratio	0.022	0.020	0.052

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	284.894	540.270	835.860
		89.639	54.712

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	284.894	540.270	835.860
Profit	32.833	67.487	99.804
	11.52%	12.49%	11.94%

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	No
24]	Banking facility details	No
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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

OVERVIEW OF THE COMPANY

The Company was incorporated as a private limited company under the Companies Act, 1956 on 25th May, 2005 as KPMG Resource Centre Private Limited having its registered office at Lodha Excelus, 1st Floor Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai, Maharashtra- 400011.

The company is engaged in the business of providing advisory services inter alia in the fields of strategy, infrastructure, performance improvement, competitiveness, leapfrog strategies, transition management, enabling technologies, e-commerce, systems integration and software services etc.

FIXED ASSETS

Tangible Assets

· Computers

Office Equipment

Leasehold Improvements

Furniture and Fixtures

Vehicles

Mobile Handset

Books

Intangible Assets

· 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.61.50
UK Pound	1	Rs.93.12
Euro	1	Rs.69.33

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		52

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.