MIRA INFORM REPORT

Report No. :	332053
Report Date :	16.07.2015

IDENTIFICATION DETAILS

Name :	AURIONPRO SOLUTIONS LIMITED
Registered Office :	35th Floor, Sunshine Tower, Tulsi Pipe Road, Near Flower Market, Dadar (West), Mumbai -  400013, Maharashtra
Tel. No.:	91-22-6617 2600 / 2601
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	31.10.1997
Com. Reg. No.:	11-111637
Capital Investment / Paid-up Capital :	Rs. 198.543 Million
CIN No.: [Company Identification No.]	L99999MH1997PLC111637
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	PNEA15872D
PAN No.: [Permanent Account No.]	AAACV7297H
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Subject provides software products and consulting services primarily to the banking vertical in India and abroad.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating reflects company’s healthy financial risk profile marked by adequate net worth base and sound profitability margins of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	13.04.2015

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = A3
Rating Explanation	Moderate degree of safety and higher credit risk
Date	13.04.2015

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 31-03-2013.

INFORMATION DENIED

MANAGEMENT NON CO-OPERATIVE (91-22-66172600)

LOCATIONS

Registered Office/ Corporate office :	35th Floor, Sunshine Tower, Tulsi Pipe Road, Near Flower Market, Dadar (West), Mumbai -  400013, Maharashtra, India
Tel. No.:	91-22-6617 2600 / 2601
Fax No.:	91-22-66172666
E-Mail :	mehul.raval@aurionpro.com info@aurionpro.com
Website :	http://www.aurionpro.com
USA Headquarters :	4000 Executive Parkway, Suite 250, San Ramon, CA 94583
Tel. No.:	91-925-242-0777-
Fax No.:	91-925-242-0778
E-Mail :	info-usa@aurionpro.com
Branch Offices :	Located At: Mumbai Rajasthan Pune Secunderabad New Delhi
Overseas Offices :	Located At: Edison, NJ Fort Lauderdale, FL New York, NY Santa Clara, CA West Chester, PA London North Yorkshire Manama Manila Melbourne

DIRECTORS

AS ON 31.03.2014

Name :	Mr. Paresh Zaveri
Designation :	Chairman
Date of Birth / Age :	22.12.1967
Qualification :	Management Graduate
Date of Appointment:	22.09.2000
Name :	Mr. Amit Ramesh Sheth
Designation :	Managing Director
Date of Birth / Age :	15.11.1967
Qualification :	Mechanical Engineer and Management Graduate
Date of Appointment:	31.10.1997
Name :	Mr. Sanjay Desai
Designation :	Executive Director
Date of Birth / Age :	01.01.1963
Qualification :	Chartered Accountant
Date of Appointment:	18.02.2003
Name :	Mr. Samir Shah
Designation :	Non-Executive Director
Date of Birth / Age :	06.02.1973
Date of Appointment:	12.08.213
Name :	Dr. Nikunj Kapadia
Designation :	Independent Director
Date of Birth / Age :	27.03.1962
Date of Appointment:	31.01.2005
Qualification :	Professor of Finance
Name :	Dr. Mahendra Mehta
Designation :	Independent Director
Date of Birth / Age :	18.05.1949
Date of Appointment:	28.08.2006
Name :	Mr. Sandeep Daga
Designation :	Independent Director
Date of Birth / Age :	23.02.1968
Qualification :	B.E. (Electronics) and M.M.S. (Finance)
Date of Appointment:	28.08.2006

KEY EXECUTIVES

Name :	Mr. Mehul Raval
Designation :	Company Secretary
Date of Birth / Age :	27.10.1978
Date of Appointment:	18.02.2009
Audit Committee :	Dr. Mahendra Mehta (Chairman) Dr. Nikunj Kapadia Mr. Amit Sheth Mr. Prem Rajani Mr. Sandeep Daga
Shareholders’ / Investors’ Grievance and Share Transfer Committee :	Dr. Mahendra Mehta (Chairman) Mr. Prem Rajani Mr. Sandeep Daga Mr. Amit Sheth
Remuneration / Compensation Committee :	Mr. Sandeep Daga (Chairman) Mr. Prem Rajani Dr. Nikunj Kapadia Dr. Mahendra Mehta Mr. Amit Sheth
Corporate Social Responsibility Committee:	Mr. Sandeep Daga (Chairman) Mr. Paresh Zaveri Mr. Amit Sheth

SHAREHOLDING PATTERN

AS ON 31.03.2015

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
		As a % of (A+B+C)
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	2597701	13.08
Sub Total	2597701	13.08
(2) Foreign
Individuals (Non-Residents Individuals / Foreign Individuals)	2961301	14.92
Bodies Corporate	774047	3.90
Sub Total	3735348	18.81
Total shareholding of Promoter and Promoter Group (A)	6333049	31.90
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	156250	0.79
Financial Institutions / Banks	61827	0.31
Foreign Institutional Investors	140648	0.71
Sub Total	358725	1.81
(2) Non-Institutions
Bodies Corporate	3217302	16.20
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 million	2005244	10.10
Individual shareholders holding nominal share capital in excess of Rs. 0.100 million	4822451	24.29
Any Others (Specify)	3117547	15.70
Non Resident Indians	1605187	8.08
Clearing Members	158721	0.80
Foreign Nationals	4000	0.02
Overseas Corporate Bodies	601816	3.03
Directors & their Relatives & Friends	566338	2.85
Trusts	181485	0.91
Sub Total	13162544	66.30
Total Public shareholding (B)	13521269	68.10
Total (A)+(B)	19854318	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	19854318	100.00

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

Sl.No.	Name of the Shareholder	Details of Shares held		Encumbered shares (*)
		No. of Shares held	As a % of grand total (A)+(B)+(C)	No	As a percentage	As a % of grand total (A)+(B)+(C) of sub-clause (I)(a)
1	Amit Sheth	6,91,060	3.48	540947	78.28	2.72
2	Sanjay Desai	3,00,000	1.51	0	0.00	0.00
3	Bhavesh Talsania	4,84,240	2.44	0	0.00	0.00
4	Paresh Zaveri	14,92,042	7.51	1874000	125.60	9.44
5	Bhavesh Zaveri	89,348	0.45	0	0.00	0.00
6	Hitesh Zaveri	64,103	0.32	0	0.00	0.00
7	Arti Desai	80,395	0.40	0	0.00	0.00
8	Anantrai Desai HUF	6,920	0.03	0	0.00	0.00
9	Anantrai Desai	15,360	0.08	0	0.00	0.00
10	Nalini Sheth	1,400	0.01	0	0.00	0.00
11	Ashish Sheth	200	0.00	0	0.00	0.00
12	Ramesh Sheth	300	0.00	0	0.00	0.00
13	Kavita Zaveri	2,57,000	1.29	0	0.00	0.00
14	Kairoleaf Holdings Pte Ltd	7,74,047	3.90	725000	93.66	3.65
15	Jagrat Desai	11,000	0.06	0	0.00	0.00
16	Sanjay Desai	2,97,631	1.50	0	0.00	0.00
17	Paresh Zaveri	12,12,259	6.11	0	0.00	0.00
18	Arti Desai	50,000	0.25	0	0.00	0.00
19	Arti Desai	30,000	0.15	0	0.00	0.00
20	Amit Sheth	4,75,744	2.40	474053	99.64	2.39
	Total	63,33,049	31.90	3614000	57.07	18.20

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

Sl. No.	Name of the Shareholder	No. of Shares held	Shares as % of Total No. of Shares	Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
1	Reliance Capital Ltd	1306906	6.58	6.58
2	Insight Holdings Pte Ltd	600000	3.02	3.02
3	Naishadh Paleja	580000	2.92	2.92
4	Sandeep Daga	344940	1.74	1.74
5	Rupal Mehta	200000	1.01	1.01
6	Mahendra Mehta	277838	1.40	1.40
7	Atul Bharani	221087	1.11	1.11
8	Samir Shah	288500	1.45	1.45
9	Tarun Jain	200000	1.01	1.01
10	DSP Merrill Lynch Trust Services Ltd	200000	1.01	1.01
11	Nisha Sidhwani	201000	1.01	1.01
12	Naresh Nagpal	948365	4.78	4.78
13	SAM Financial Services Pvt Ltd	398265	2.01	2.01
14	Ajay Sarupria	358094	1.80	1.80
15	R P Seth	262084	1.32	1.32
	Total	6387079	32.17	32.17

Shareholding of securities (including shares, warrants, convertible securities) of persons (together with PAC) belonging to the category “Public” and holding more than 5% of the total number of shares of the company

Sl. No.	Name(s) of the shareholder(s) and the Persons Acting in Concert (PAC) with them	No. of Shares	Shares as % of Total No. of Shares	Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
1	Reliance Capital Ltd	1306906	6.58	6.58
	Total	1306906	6.58	6.58

Details of Locked-in Shares

Sl. No.	Name of the Shareholder	No. of Shares	Locked-in Shares as % of Total No. of Shares
1	Paresh Zaveri	9,05,000	4.56
2	Ajay Sarupria	84,480	0.43
3	Jasmine Sarupria	31,944	0.16
4	SAM Financial Services Pvt Ltd	1,84,800	0.93
	Total	12,06,224	6.08

BUSINESS DETAILS

Line of Business :	Subject provides software products and consulting services primarily to the banking vertical in India and abroad.
Products :	software products
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the management

Bankers :

• Axis Bank Limited
• State Bank of India
• HDFC Bank Limited
• Bank of India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2015	As on 31.03.2013
SHORT TERM BORROWING
Cash credit and overdraft facilities from banks	NA	505.541
Total	NA	505.541
Note: LONG TERM BORROWING: a. Term loan from State Bank of India carries an interest rate of Base Rate + 2.20% per annum. This facility is secured by pari-passu hypothecation charge on entire receivables and stock in process (SIP) of the Company. This is also secured by the following: • First charge on the Company’s computers and furniture and fixtures; Pledge of 6 lakhs equity shares of the Company held by the promoters; • Hypothecation of the properties owned by the promoters; • Pledge of 190,520 shares of a company purchased out of bank finance i.e. SPS Corp. USA (now merged with Aurionpro Solutions Inc. USA); and Pledge of 210,631 shares of Aurionpro Solutions Inc. USA. Corporate guarantee of Aurionpro Solutions Inc. USA and personal guarantees of promoters and their relatives have also been provided. b. Term loan from Yes Bank Limited carried an interest rate of Base rate + 4.50% per annum and was repayable in quarterly installment over a tenor of 36 months with a moratorium period of 3 months. The facility was secured by exclusive charge on the fixed assets funded by Yes Bank Limited and by pledge of shares of Aurionpro Solutions Limited held by the promoters. Personal guarantees of promoters was also provided. This facility has been repaid in the current year. c. Term loan from Reliance Capital Limited carries a floating interest rate of 15.50% per annum and is repayable in 18 equal monthly instalments (EMI). The facility is secured by receivables from Reliance Capital Limited by Aurofidel Outsourcing Limited, a wholly-owned-subsidiary of the company. d. Term loan outstanding as on 31 March 2013 from Religare Finvest Limited carried an interest rate of 18.50% per annum and was repayable in 24 equated monthly installments (EMI) of Rs.0.250 Million This facility was repaid during the year. Term loan outstanding as on 31 March 2014 carries an interest rate of 19.26% per annum and is repayable in 24 EMI of Rs.0.212 Million. e. Term loan from Tata Capital Financial Services Limited carries an interest rate of 19% per annum and is repayable in 18 EMI of Rs.0.225 Million

Statutory Auditors :
Name :	M/s. B S R and Company LLP Chartered Accountants
Address :	Mumbai, Maharashtra, India
Internal Auditors :
Name :	D. Kothary and Company Chartered Accountants
Address :	Mumbai, Maharashtra, India
Subsidiary companies: (As on 31.03.2014)	Aurionpro Solutions Inc Aurionpro Solutions Private Limited Aurionpro Software Private Limited Auroscient Outsourcing Limited Aurofidel Outsourcing Limited Aurionpro Solutions SPC Aurionpro SCM Private Limited Kairoleaf Analytics(S) Private Limited PT Aurionpro Solutions, Indonesia E2E Infotech Limited (till 29 June 2013) Aurionpro Solutions (Hong Kong) Limited (till 01 August 2013)
Step-down subsidiaries: (As on 31.03.2014)	Aurionpro SCM Inc Aurionpro Holdings Private Limited Aurionpro Solutions PLC Sena Systems Private Limited Integro Technologies Private Limited (Sold to Aurionpro Holdings Private (w.e.f. 31 March 2014) Integro Technologies SDN. BHD Integro Technologies Company Limited Aurionpro Solutions Private Limited (Sold to Aurionpro Holdings Private Limited (w.e.f. 31 March 2014)

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital: Rs. 661.500 Million

Issued, Subscribed & Paid-up Capital: Rs. 198.543 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
26150000	Equity Shares	Rs.10/- each	Rs.261.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18098198	Equity Shares	Rs.10/- each	Rs. 180.982 Million

Note: (As On 31.03.2014)

a. Reconciliation of the number of shares outstanding at the beginning and at the end of the year

Equity Shares	Number of Shares	Rs. In Millions
At the commencement of the year	16810427	168.104
Add: Shares issued on conversion of share warrants	530000	5.300
Add: Shares issued on preferential basis	257771	2.578
Add: Shares issued on preferential basis	500000	5.000
At the end of the year	18098198	180.982

b. Rights, preferences and restrictions attached to equity shares

The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regard to dividends and share in the Company’s residual assets. The equity shareholders are entitled to receive dividend was declared from time to time. The voting rights of an equity shareholder are in proportion to its share of the paid-up equity capital of the Company.

During the year ended 31 March 2014, the Company has proposed final dividend of Rs. 2 per equity share (31 March 2013: ` 1.25). The dividend proposed by the Board of Directors is subject to the approval of the shareholders at the ensuing Annual General Meeting.

On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held.

c. Particulars of shareholders holding more than 5% of equity shares

Name of Shareholder	Number of Shares	% holding
Mr. Amit Sheth	1016804	5.62
Mr. Paresh Zaveri	2704301	14.94
Mr. Vishwanath Prabhu	-	-
Mr. Naresh Nagpal	948365	5.24
Reliance Capital Limited	1306906	7.22

d. Aggregate number of shares issued for consideration other than cash during the period of five years immediately preceding the year-end

1. 400,000 (31 March 2013: Nil) equity shares of Rs.10 each have been allotted as fully paidup shares to the erstwhile shareholders of Seeinfobiz Private Limited (‘Seeinfobiz’) pursuant to the merger of Seeinfobiz with the Company effective 1 April 2012. (refer Note 40)

2. In terms of the agreement entered into by Aurionpro Solutions Inc, USA (a subsidiary of the Company) with Virat Inc. for purchase of certain business assets of Virat Inc., 100,000 (31 March 2013: Nil) equity shares of Rs..10 each of the Company have been allotted as fully paidup shares to the shareholders of Virat Inc.

3. During the year ended 31 March 2012, 1,081,961 equity shares were issued to the shareholder of Kairoleaf Analytics Private Limited on account of amalgamation of Kairoleaf Analytics Private Limited with the Company.

Employee stock option

Terms attached to stock options granted to employees are described in Note 43 regarding employee share based payments.

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	198.543	180.982	168.104
(b) Reserves & Surplus	3450.392	3017.064	2532.522
(c) Money received against share warrants	0.000	0.000	131.625
(2) Share Application money pending allotment	0.000	0.000	0.000
(3) Equity Shares Suspense			4.000
Total Shareholders’ Funds (1) + (2)	3648.935	3198.046	2836.251
(3) Non-Current Liabilities
(a) long-term borrowings	75.181	2.205	160.058
(b) Deferred tax liabilities (Net)	0.000	15.167	44.143
(c) Other long term liabilities	3.986	3.018	0.000
(d) long-term provisions	21.143	6.569	6.943
Total Non-current Liabilities (3)	100.310	26.959	211.144
(4) Current Liabilities
(a) Short term borrowings	524.031	648.982	555.830
(b) Trade payables	303.529	503.788	147.101
(c) Other current liabilities	292.023	370.033	193.093
(d) Short-term provisions	127.591	91.833	37.646
Total Current Liabilities (4)	1247.174	1614.636	933.670
TOTAL	4996.419	4839.641	3981.065
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	305.340	151.211	241.713
(ii) Intangible Assets	0.000	19.295	19.913
(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	1219.286	1213.191	1733.281
(c) Deferred tax assets (net)	11.357	0.000	0.000
(d) Long-term Loan and Advances	278.982	300.492	188.002
(e) Other Non-current assets	31.314	9.006	2.080
Total Non-Current Assets	1846.279	1693.195	2184.989
(2) Current assets
(a) Current investments	1.239	1.475	1.935
(b) Inventories	64.173	75.425	77.783
(c) Trade receivables	696.015	907.399	733.141
(d) Cash and cash equivalents	80.332	135.369	65.404
(e) Short-term loans and advances	2297.456	1635.339	917.022
(f) Other current assets	10.925	391.439	0.791
Total Current Assets	3150.140	3146.446	1796.076
TOTAL	4996.419	4839.641	3981.065

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	2613.068	2180.885	1943.349
	Other Income	129.656	380.311	118.720
	TOTAL (A)	2742.724	2561.196	2062.069
Less	EXPENSES
	Software	1392.131	1289.440	986.226
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	77.653	2.358	(26.984)
	Employees benefits expense	638.527	570.701	529.281
	Other expenses	299.547	301.689	195.279
	TOTAL (B)	2407.858	2164.188	1683.802
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	334.866	397.008	378.267
Less	FINANCIAL EXPENSES (D)	105.156	112.947	116.732
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	229.710	284.061	261.535
Less/ Add	DEPRECIATION/ AMORTISATION (F)	90.590	76.144	123.408
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	139.120	207.917	138.127
Less	TAX (H)	44.413	-61.445	19.019
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	94.707	269.362	119.108
Less	APPROPRIATIONS
	Transfer to General Reserve	NA	37.196	21.336
	Dividend	NA	6.320	3.461
	Tax on Dividend	NA	20.202	2.977
	Total (M)	NA	63.718	27.774
	Earnings / (Loss) Per Share (Rs.)	4.96	15.29	7.29

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	285.662	85.776
Cash generated from operations	NA	192.636	193.280
Cash used in operating activities	NA	(260.452)	(15.896)
Net cash flows from (used in) operations	NA	(306.714)	(70.273)

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	3.62	12.35	6.13
Operating Profit Margin (PBIDT/Sales)	(%)	12.82	18.20	19.46
Return on Total Assets (PBT/Total Assets}	(%)	3.69	5.73	6.15
Return on Investment (ROI) (PBT/Networth)		0.04	0.07	0.05
Debt Equity Ratio (Total Debt /Networth)		0.16	0.29	0.28
Current Ratio (Current Asset/Current Liability)		2.53	1.95	1.92

STOCK PRICES

Face Value	Rs. 10.00/-
Market Value	Rs.189.80/-

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	168.104	180.982	198.543
Reserves & Surplus	2532.522	3017.064	3450.392
Money received against share warrants	0.000	0.000	131.625
Net worth	2700.626	3198.046	3780.560
long-term borrowings	160.058	2.205	75.181
Short term borrowings	555.830	648.982	524.031
Total borrowings	801.664	936.849	599.212
Debt/Equity ratio	0.297	0.293	0.158

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1943.349	2180.885	2613.068
		12.223	19.817

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1943.349	2180.885	2613.068
Profit	119.108	269.362	94.707
	6.13%	12.35%	3.62%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

Particulars	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
Term loans from financial institutions	NA	2.205
SHORT TERM BORROWING
Term loans from financial institutions	NA	1.412
Loan and advances from related parties
Amit Sheth (Vice Chairman and Managing Director)	NA	3.184
Paresh Zaveri (Director)	NA	3.549
Sanjay Desai (Director)	NA	3.200
Sena Systems Private Limited (Step down subsidiary)	NA	108.150
Kairoleaf Analytics Private Limited (Subsidiary)	NA	2.446
Inter-corporate deposits (ICD)	NA	21.500
Total	NA	145.646
Note: SHORT TERM BORROWING: a) Cash credit facility from Axis Bank Limited is repayable on demand with an interest rate of Base Rate + 3.50% per annum. This facility is secured by first charge on entire current assets of the Company both, present and future. This is also secured by second charge on entire fixed assets of the Company, both, present and future. Personal guarantee of Managing Director and other Directors of the Company have also been provided. b) Cash credit facility from State Bank of India is repayable on demand with an interest rate of Base Rate + 2.20% per annum. This facility is secured by pari-passu hypothecation charge on entire receivables and stock in process (SIP) of the Company. This is also secured by the following: first charge on the Company’s Computers and furniture and fixtures; Pledge of 6 lakhs equity shares of the Company held by the promoters Hypothecation of the properties owned by the promoters Pledge of 190,520 shares of a company purchased out of bank finance i.e. SPS Corp. USA (now merged with Aurionpro Solutions Inc. USA); and Pledge of 210,631 shares of Aurionpro Solutions Inc. USA. a) Corporate guarantee of Aurionpro Solutions Inc. USA and personal guarantees of promoters and their relatives have also been provided. b) Bank overdraft facility from The Saraswat Co- Operative Bank Limited is repayable on demand with an interest rate of 14.50% per annum. This facility is secured by equitable mortgage of property of estwhile directors of Seeinfobiz Private Limited c) Term loan from Bajaj Finance Limited carries an interest rate of 20% per annum and is repayable in 12 Equated Monthly Installments of Rs. 0.190 Million d) Loan from Quest Finlease Private Limited carried aninterest rate of 20% per annum and was repayable on demand. This loan has been repaid during the year. e) Loans and advances from related parties are interest free and repayable on demand. Loan from Vishwanath Prabhu was repaid during the year. f) The Company has taken ICD’s during the year which carry interest in the range of 15% to 21%. These ICD’s are repayable on demand. g) Loan taken from erstwhile directors of Seeinfobiz Private Limited was interest free and repayable on demand. The loan was repaid during the year.

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
Guarantees outstanding	10.683	1.215

FIXED ASSETS

• Leasehold Improvements
• Furniture and Fixtures
• Vehicles
• Office equipment
• Air conditioner
• Computer
• Goodwill
• Computer software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.38
UK Pound	1	Rs.99.13
Euro	1	Rs.69.69

INFORMATION DETAILS

Information Gathered by :	SUV
Analysis Done by :	GTA
Report Prepared by :	GTA

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	5
--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.