MIRA INFORM REPORT

Report No. :	324692
Report Date :	02.06.2014

IDENTIFICATION DETAILS

Name :	CONTINENTAL DEVICE INDIA PRIVATE LIMITED (w.e.f 27.03.2015)
Formerly Known As :	CONTINENTAL DEVICE INDIA LIMITED
Registered Office :	C / 120, Naraina Industrial Area, Delhi - 110028
Tel. No.:	91-11-25796150/6151/6152/6153/51411112
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.12.1964
Com. Reg. No.:	55-004291
Capital Investment / Paid-up Capital :	Rs.43.000 Million
IEC No.:	0588011223
CIN No.: [Company Identification No.]	U32109DL1964PTC004291
TAN No.: [Tax Deduction & Collection Account No.]	DELC07659B
PAN No.: [Permanent Account No.]	AAACC1835E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of discrete silicon Semiconductor components like Transistors, Diodes, Zener Diodes in standard and surface Mount Packages, Photo-Sensitive Semi-Conductor Devices including Photo-Voltaic, CED.
No. of Employees :	11100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 300000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Subject was incorporate in 1964. Manufacturing and exporting of discrete silicon Semiconductor components like Transistors, Diodes, Zener Diodes in standard and surface Mount Packages, Photo-Sensitive Semi-Conductor Devices including Photo-Voltaic Cells, Mounted Piezo-Electric Crystals, Subcontract Assembly for Discrete Components and Contract PC board Assembly. General financial position of the company seems to be fair. Rating takes into consideration, good reserves and comfortable liquidity position of the company as well as highly competitive nature of the industry. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In the view of experienced promoters and long track record of operations, the subject 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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

Rating Agency Name	CARE
Rating	Long Term Rating=BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	31.03.2015

Rating Agency Name	CARE
Rating	Short Term Rating=A3+
Rating Explanation	Moderate degree of safety and high credit risk.
Date	31.03.2015

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. G. S. Nanda
Designation :	Account Manager
Contact No.:	91-11-25796150
Date :	27.05.2015

LOCATIONS

Registered Office/Factory1 :	C / 120, Naraina Industrial Area, New Delhi – 110028, India
Tel. No.:	91-11-25796150/6151/6152/6153/51411112
Mobile No.:	91-11-25796150 (Mr. G. S. Nanda)
Fax No.:	91-11-25799569/25795290
E-Mail :	sales@cdil.com email@cdil.com
Website :	http://www.cdil.com
Area :	10000 Sq. ft.
Locality :	Industrial
Factory 2 :	132, Industrial Area, Chandigarh, India
Factory 3 :	B-97, Phase-VIII, Industrial Area, SAS Nagar, Mohali – 160059, Punjab, India
Branch Address:	4801, High Point lV, 45 Palace Road, Bangalore – 560001, Karnataka, India

DIRECTORS

As on 18.09.2014

Name :

Mr. Gurpreet Singh

Designation :

Managing Director

Address :

20-A, Aurangzeb Road, New Delhi – 110011, India

Date of Birth/Age :

22.11.1933

Date of Appointment :

01.12.2012

DIN No.:

00173503

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	U74899DL1947PTC001234	NATIONAL COLD STORAGE AND REFRIGERATION PRIVATE LIMITED	Director	15-12-54	15-12-54	-	Active	NO
2	U32109DL1964PTC004291	CONTINENTAL DEVICE INDIA Private Limited	Managing director	01-12-12	10-12-64	-	Active	NO
3	U74899DL1970PTC005207	DELTA ELECTRONICS PRIVATE LIMITED	Director	27-10-70	27-10-70	-	Active	NO
4	U74899DL1968PTC004976	SEMTECH PRIVATE LIMITED.	Director	13-09-75	13-09-75	-	Active	NO
5	L32109DL1982PLC013838	DELTRON LIMITED	Director	17-10-83	17-10-83	-	Active	NO
6	U74899DL1970PTC005443	SIMRAN ELECTRONICS PRIVATE LIMITED	Director	12-07-90	12-07-90	-	Active	NO
7	U67120DL2001PTC111221	M D HOLDINGS PRIVATE LIMITED	Director	05-03-04	05-03-04	-	Active	NO
8	U45201DL2001PTC111217	RAGHAV PROPERTIES PRIVATE LIMITED	Director	08-03-04	08-03-04	-	Active	NO
9	U72900DL2006PLC153842	Nile Tech LIMITED	Director	29-09-07	15-09-06	04-03-11	Active	NO
10	U72200DL2006PTC154058	Continental Device Infotech Private Limited	Director	19-09-06	19-09-06	-	Active	NO
11	U45201DL2003PTC123474	MULBERRY PROJECTS PRIVATE LIMITED	Director	29-09-07	10-05-07	-	Active	NO

Name :

Mr. Kushal G. Singh

Designation :

Director

Address :

20-A, Aurangzeb Road, New Delhi – 110011, India

Date of Birth/Age :

19.02.1935

Date of Appointment :

07.03.1966

DIN No.:

00178630

Name :

Mr. Inderdeep Singh

Designation :

Managing Director

Address :

20-A, Aurangzeb Road, New Delhi – 110011, India

Date of Birth/Age :

18.08.1960

Date of Appointment :

01.12.2012

DIN No.:

00173538

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	U32109DL1964PTC004291	CONTINENTAL DEVICE INDIA Private Limited	Managing director	01-12-12	01-09-88	-	Active	NO
2	U74899DL1987PTC026729	SOFT ELECTRONICS PRIVATE LIMITED	Director	04-09-89	04-09-89	-	Active	NO
3	U74899DL1970PTC005443	SIMRAN ELECTRONICS PRIVATE LIMITED	Director	12-07-90	12-07-90	-	Active	NO
4	L32109DL1982PLC013838	DELTRON LIMITED	Director	26-11-91	26-11-91	-	Active	NO
5	U74899DL1947PTC001234	NATIONAL COLD STORAGE AND REFRIGERATION PRIVATE LIMITED	Director	04-08-99	04-08-99	-	Active	NO
6	U67120DL2001PTC111221	M D HOLDINGS PRIVATE LIMITED	Director	05-03-04	05-03-04	-	Active	NO
7	U45201DL2001PTC111217	RAGHAV PROPERTIES PRIVATE LIMITED	Director	08-03-04	08-03-04	-	Active	NO
8	U65999CH1998SGC022010	PUNJAB VENTURE CAPITAL LIMITED	Director	14-12-05	14-12-05	28-06-10	Active	NO
9	U72900DL2006PLC153842	Nile Tech LIMITED	Director	29-09-07	15-09-06	02-03-11	Active	NO
10	U72200DL2006PTC154058	Continental Device Infotech Private Limited	Director	19-09-06	19-09-06	-	Active	NO
11	U45201DL2003PTC123474	MULBERRY PROJECTS PRIVATE LIMITED	Director	29-09-07	07-05-07	-	Active	NO
12	L29112DL1963PLC004084	SHRIRAM PISTONS AND RINGS LIMITED	Director	26-06-10	25-03-08	-	Active	NO
13	U91900PB2011NPL034564	YOUNG PRESIDENT'S ORGANISATION (PUNJAB CHAPTER)	Director	05-01-11	05-01-11	28-03-13	Active	NO
14	U74140DL2011PTC216948	BELLA VISTA MANAGEMENT SOLUTIONS PRIVATE LIMITED	Director	04-04-11	04-04-11	-	Active	NO

Name :

Mrs. Gita Devi

Designation :

Director

Address :

B90-A, Greater Kailash, Part-l, New Delhi – 110048, India

Date of Birth/Age :

21.03.1936

Date of Appointment :

11.12.1969

DIN No.:

00215138

Name :

Mr. Pankaj Gulati

Designation :

Whole Time Director

Address :

182, Double Storey, New Rajinder Nagar, New Delhi – 110060, India

Date of Birth/Age :

28.05.1956

Date of Appointment :

18.09.2014

DIN No.:

00173789

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	U74899DL1978PTC009262	HALLMARK AUTOMATION PRIVATE LIMITED	Director	15-07-92	15-07-92	-	Active	NO
2	U74899DL1969PTC005160	THERMADYNE PRIVATE LIMITED	Director	15-07-92	15-07-92	-	Active	NO
3	U74899DL1967NPL015218	ELECTRONIC INDUSTRIES ASSOCIATION OF INDIA	Director	12-09-07	12-09-07	-	Active	NO
4	U32109DL1964PTC004291	CONTINENTAL DEVICE INDIA Private Limited	Whole-time director	18-09-14	26-12-13	-	Active	NO
5	U72200DL2006PTC154058	Continental Device Infotech Private Limited	Director	30-09-14	28-03-14	-	Active	NO

Name :

Mr. Arun Chetak

Designation :

Whole Time Director

Address :

House No.99, Sector, 18-A, ChandiGarh – 160018, India

Date of Birth/Age :

30.09.1959

Date of Appointment :

18.09.2014

DIN No.:

00739534

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	U72900DL2006PLC153842	Nile Tech LIMITED	Director	16-09-06	16-09-06	05-12-06	Active	NO
2	U32109DL1964PTC004291	CONTINENTAL DEVICE INDIA Private Limited	Whole-time director	18-09-14	26-12-13	-	Active	NO

KEY EXECUTIVES

Name :	Mr. G. S. Nanda
Designation :	Account Manager

MAJOR SHAREHOLDERS

As on 18.09.2014

Names of Shareholders	No. of Shares
Sumir Pal Singh Sethi	38320
Amrit Kaur	5152
S. Tejpal Singh-HUF	2300
Thermadne Private Limited	75890
Simran Bhargava	271000
S. Inderdeep Singh	720000
Kushal G. Singh	368316
S. Gurpreet Singh-HUF	36892
S. Gurpreet Singh	32006
S. Arjan Singh HUF	50180
Punita G. Singh	237600
S. Inderdeep Singh	332695
Simran Bhargava	106890
Kushal G. Singh	50180
Prithvideep Singh	241335
Gitana Singh	123105
Reena I. Singh	125000
S. Gurpreet Singh	302864
Punita G. Singh	25000
Kushal G. Singh	100000
Kushal G. Singh	75000
S. Inderdeep Singh	282147
S. Inderdeep Singh	141251
S. Inderdeep Singh	150000
Reena I. Singh	29585
Simran Bhargava	79940
Simran Bhargava	22352
Punita G. Singh	75000
Prithvideep Singh	50000
Gitana Singh	50000
Tara Bhargava	50000
Amira Bhargava	50000
Total	4300000

As on 18.09.2014

Category	Percentage
Bodies corporate	1.76
Directors or relatives of Directors	97.18
Other top fifty shareholders	1.06
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of discrete silicon Semiconductor components like Transistors, Diodes, Zener Diodes in standard and surface Mount Packages, Photo-Sensitive Semi-Conductor Devices including Photo-Voltaic, CED.

Products :

Item Code No.	Product Description
DIODES	85.41.10
Transistors	85.41.29
Electronic Sub-Assemblies	85.17.19
Automotive Parts	85.11.90
Other Electronic Sub-Assemblies and Modules	85.48.00

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

· USA

· Hong Kong

Imports :

Products :

Raw Material

Countries :

· China

· Hong Kong

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 :

11100 (Approximately)

Bankers :

Bank Name	Punjab National Bank
Branch	Nraina Vihar, New Delhi – 110028, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

· Kotak Mahindra Bank

· Standard Chartered Bank – PLC, H Block Connaught Circus, New Delhi – 110001, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee Term Loan from Bank	16.024	16.024
Short-term borrowings
Working Capital loans from Banks	21.026	8.740
Total	37.050	24.764

Auditors :
Name :	Raghunath Rai and Company Chartered Accountants
Address :	9, Mathura Road, Jangpura ‘B’, New Delhi – 110014, Delhi, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFR6306E
Memberships :	Not Available
Collaborators :	Not Available
Associates :	· Deltron Limited, India (L32109DL1982PLC013838) · Mulberry Projects Private Limited, India (U45201DL2003PTC123474) · National Cold Storage and Rafrigeration Private Limited, India (U74899DL1947ptc001234) · Delta Electronics Private Limited, India (U74899DL1970PTC005207)
Subsidiary:	· CDIL (HK) Limited, Hong Kong · Continental Device Infotech Private Limited, India (U72200DL2003PTC154058) · Bella Vista Management Solutions Private Limited, India (U74140DL2011PTC216948)

CAPITAL STRUCTURE

As on 18.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
4900000	Equity Shares	Rs.10/- each	Rs.49.000 Million
10000	Preference Shares	Rs.100/-each	Rs.1.000 Million
	Total		Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4300000	Equity Shares	Rs.10/- each	Rs.43.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	43.000	43.000	43.000
(b) Reserves & Surplus	991.065	986.892	982.467
(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)	1034.065	1029.892	1025.467
(3) Non-Current Liabilities
(a) long-term borrowings	246.902	182.351	188.487
(b) Deferred tax liabilities (Net)	19.599	22.919	26.091
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	8.438	8.795	9.062
Total Non-current Liabilities (3)	274.939	214.065	223.640
(4) Current Liabilities
(a) Short term borrowings	25.901	13.615	8.905
(b) Trade payables	62.621	55.707	44.651
(c) Other current liabilities	154.401	172.398	132.699
(d) Short-term provisions	5.031	5.031	4.998
Total Current Liabilities (4)	247.954	246.751	191.253
TOTAL	1556.958	1490.708	1440.360
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	271.086	282.504	308.702
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	17.145	17.033	28.416
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	862.081	869.073	807.840
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	5.574	4.859	4.884
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1155.886	1173.469	1149.842
(2) Current assets
(a) Current investments	2.762	8.795	8.533
(b) Inventories	123.318	69.225	63.076
(c) Trade receivables	200.626	172.720	139.834
(d) Cash and cash equivalents	19.608	28.015	23.395
(e) Short-term loans and advances	20.083	23.335	31.645
(f) Other current assets	34.675	15.149	24.035
Total Current Assets	401.072	317.239	290.518
TOTAL	1556.958	1490.708	1440.360

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1136.724	906.515	796.181
	Other Income	11.851	18.017	36.429
	TOTAL	1148.575	924.532	832.610
Less	EXPENSES
	Cost of Materials Consumed	544.936	421.015	371.314
	Purchases of Stock-in-Trade	306.105	220.578	171.100
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(29.214)	(9.189)	5.521
	Employees benefits expense	173.751	150.408	147.379
	Other expenses	84.651	77.712	76.135
	TOTAL	1080.229	860.524	771.449
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	68.346	64.008	61.161
Less	FINANCIAL EXPENSES	39.708	33.474	33.483
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	28.638	30.534	27.678
Less	DEPRECIATION/ AMORTISATION	19.404	21.000	21.849
	PROFIT/ (LOSS) BEFORE TAX	9.234	9.534	5.829
Less	TAX	0.030	0.078	-1.335
	PROFIT/ (LOSS) AFTER TAX	9.204	9.456	7.164
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	226.501	252.412	289.064
	TOTAL EARNINGS	226.501	252.412	289.064
	IMPORTS
	Raw Materials	0.000	256.082	244.318
	Components and Stores parts	0.000	224.304	175.153
	Capital Goods	0.000	0.000	2.210
	TOTAL IMPORTS	0.000	480.386	421.681
	Earnings / (Loss) Per Share (Rs.)	2.14	2.2	1.67

Particulars	31.03.2015
Sales Turnover	1300.000

The above information has been parted by Mr. G. S. Nanda (Account Manager)

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.81	1.04	0.90
Operating Profit Margin (PBIDT/Sales)	(%)	6.01	7.06	7.68
Return on Total Assets (PBT/Total Assets}	(%)	1.36	1.58	0.96
Return on Investment (ROI) (PBT/Networth)		0.01	0.01	0.01
Debt Equity Ratio (Total Debt /Networth)		0.26	0.19	0.19
Current Ratio (Current Asset/Current Liability)		1.62	1.29	1.52

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	43.000	43.000	43.000
Reserves & Surplus	982.467	986.892	991.065
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1025.467	1029.892	1034.065
long-term borrowings	188.487	182.351	246.902
Short term borrowings	8.905	13.615	25.901
Total borrowings	197.392	195.966	272.803
Debt/Equity ratio	0.192	0.190	0.264

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	796.181	906.515	1136.724
		13.858	25.395

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	796.181	906.515	1136.724
Profit	7.164	9.456	9.204
	0.90%	1.04%	0.81%

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	Yes
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
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)	Yes
16	No. of employees	Yes
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 four 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	Yes
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

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Deposits from Directors	161.920	92.670
Deposits from Others	68.958	73.657
Short-term borrowings
Deposits from Others	4.875	4.875
Total	235.753	171.202

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10311492	29-09-11	123,000,000.00	PUNJAB NATIONAL BANK (LEAD BANK)	NARAINA VIHAR, NEW DELHI, Delhi - 110028, INDIA	B23064405
2	90059689	10/07/1989 *	12,500,000.00	BANK OF INDIA	MAULANA AZAD ROAD, SRINAGAR, Jammu and Kashmir, INDIA	-
3	90059295	27/07/1999 *	300,000.00	UCO BANK	H BLOCK CONNAUGHT PLACE, NEW DELHI, Delhi, INDIA	-

THE YEAR IN RETROSPECT

In the global scenario, the financial health of economies improved, albeit modestly. Within the exception of China and Russia, stock did well in emerging economies, notably, India Indonesia. Although this trend looks positive, the global financial and economic challenges have far ended and sluggish growth and banking fragility still remain a cause for concern in the European economies.

India’s Gross Domestic Product (GDP) growth rate increased to 4.7% in 2013-14 as compared to 405% during the preceding year. Though heartening, it was still lower than the official estimate of 4.95. This made it two consecutive years of growth below 5% in the past 25 years. The Index of Industrial Production (llP) too reduced to -0.1%. The mining and manufacturing sectors performed dismally but agriculture, finance, insurance and real estate registered reasonable growth. In the Indian scenario, the overall business environment, fiscal imbalances, external sector vulnerability and poor market efficiency continue to be the key factors behind low growth.

Notwithstanding the difficult period persisting worldwide, the Company performed reasonably well and maintained its profitability with prudent management of its resources.

FINANCIAL RESULT

During the year under review, the Company’s total revenue was Rs.1148.580 Million as compared to Rs.924.530 for the year ended on 31^st March 2013. Pre-tax profit for the year under review was at Rs.9.230 Million after providing for depreciation of Rs.19.400 Million.

After providing Rs.3.350 Million for current income tax, an amount of Rs.0.400 Million has been transferred to General Reserves and Rs.5.030 Million has been provided for Dividend and Dividend Tax.

The Directors recommend for the approval of shareholders, payment of Dividend of Rs.4.300 Million at the rate of 10% i.e. Rs.1 per Equity Share for the year 31^st March 2014.

FUTURE OUTLOOK

The first quarter of 2014 registered a GDP of 5.7% and this quarter also witnessed a fall in fiscal deficit to 4.55 lower than the official estimate of 4.6%. The IIP also rose to 3.9%

A recent survey by the Confederation of Indian Industry shows that is expected to grow at the rate of 5.5% to 6% during the year 2014-2015 and the wholesale price inflation is expected to be moderate at around 6% the year. With a new Government at the Centre, some major steps are expected to be taken to attract foreign investors and year. With a new Government at the Centre, some major steps are expected to be taken to attract foreign investors and restore their confidence in the Indian Market. Growth is expected to pick up only slowly as the year progresses.

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Machinery

· Air-condition Plant

· Computers

· Office equipment

· Furniture and Fixtures

· Vehicles

· Electrical Installations

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.63.61
UK Pound	1	Rs.97.27
Euro	1	Rs.69.63

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	SAN
Report Prepared by :	SUD

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	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.