MIRA INFORM REPORT

Report No. :	326158
Report Date :	08.06.2015

IDENTIFICATION DETAILS

Name :	LINK WELL TELESYSTEMS PRIVATE LIMITED
Registered Office :	1-11-252/1B, Behind Shopper’s Stop, Begumpet, Hyderabad – 500016, Telangana
Tel. No.:	91-40-66388000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.06.1993
Com. Reg. No.:	36-015875
Capital Investment / Paid-up Capital :	Rs.19.995 Million
CIN No.: [Company Identification No.]	U64203TG1993PTC015875
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACL3452E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Equipments such as Pay-Phone Terminals, Fixed Wireless Terminals, Transaction Terminals, Wireless Modems and Routers, Vehicle Tracking Systems etc.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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 company is progressing well. The rating also reflects company sound financial risk profile marked by sound networth position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. 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 – 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	CRISIL
Rating	Long term rating=BBB
Rating Explanation	Moderate degree of safety and carry moderate credit risk.
Date	04.03.2015

Rating Agency Name	CRISIL
Rating	Short term rating=A3+
Rating Explanation	Moderate degree of safety and carry higher credit risk.
Date	04.03.2015

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 31-03-2013.

INFORMATION DENIED BY

Name :	Mr. Ramesh
Designation :	Technical Director
Contact No.:	91-9701601300
Date :	06.06.2015

LOCATIONS

Registered / Corporate Office :	1-11-252/1B, Behind Shopper’s Stop, Begumpet, Hyderabad – 500016, Telangana, India
Tel. No.:	91-40-66388000
Fax No.:	91-40-66388006
E-Mail :	info@visiontek.co.in nath@visiontek.co.in
Factory :	B-45 and 46, Electronic Complex, Kushaiguda, Hyderabad – 500062, Telangana, India

DIRECTORS

AS ON 30.09.2014

Name :	Anumolu Krishna Prasad
Designation :	Managing Director
Address :	44, Wishparvally Darga, Serilingampally, Hyderabad - 500008, Telangana, India
Date of Birth/Age :	05.09.1958
Date of Appointment :	15.06.1993
Din No.:	01443295
Name :	Sunkara Radha Rani
Designation :	Director
Address :	44, Wishparvally Darga, Serilingampally, Hyderabad - 500008, Telangana, India
Date of Birth/Age :	08.05.1965
Date of Appointment :	19.01.1994
Din No.:	01545421

KEY EXECUTIVES

Name :	Mr. Ramesh
Designation :	Technical Director

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Anumolu Krishna Prasad	1282300
Sunkara Radha Rani	697200
S. Baby Sarojini	2000
S. Koteswara Rao	2000
V. Padma	2000
N. Vijayalakshmi	2000
A.Bubuji	2000
A. Ram Prasad	2000
S.B. Ramakrishna	2000
D. Srinivasa Rao	2000
A. Shyam Prasad	2000
T.V.N.R. Nath	2000
Total	1999500

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	98.00
Other top fifty shareholders	2.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Equipments such as Pay-Phone Terminals, Fixed Wireless Terminals, Transaction Terminals, Wireless Modems and Routers, Vehicle Tracking Systems etc.
Products :	Pay-Phone Terminals Fixed Wireless Terminals Transaction Terminals Wireless Modems and Routers Vehicle Tracking Systems
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	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 :

Company Name :	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 :

Banker Name :	State Bank of Hyderabad
Branch :	Commercial Branch, Surya Towers, 105, S. P. Road, Secunderabad - 500003, Telangana, 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 :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Facilities :

SECED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Loans repayable on demand	0.056	0.000
Rupee term loans from banks	0.000	0.699
Short Term Borrowings
Working capital loans from banks	303.613	289.906
Loans repayable on demand from banks	181.537	156.302
Total	485.206	446.907

Auditors :
Name :	Balajinaidu and Company Chartered Accountants
Address :	6-1-85/4, Saifabad, Hyderabad – 500004, Telangana , India
PAN No:	AADFB5507C
Memberships :	Not Divulged
Collaborators :	Not Divulged
Others :	· Navodaya Electronics Private Limited · Ray Electric India Private Limited · Visiontek Telesystems Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
1999500	Equity Shares	Rs.10/- each	Rs.19.995 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	19.995	19.995	19.995
(b) Reserves & Surplus	1086.729	991.666	917.128
(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)	1106.724	1011.661	937.123
(3) Non-Current Liabilities
(a) long-term borrowings	0.056	1.828	6.173
(b) Deferred tax liabilities (Net)	20.552	20.777	24.195
(c) Other long term liabilities	0.701	0.711	0.711
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	21.309	23.316	31.079
(4) Current Liabilities
(a) Short term borrowings	485.150	446.208	138.802
(b) Trade payables	186.252	147.735	137.613
(c) Other current liabilities	49.135	53.874	46.283
(d) Short-term provisions	24.661	17.405	11.883
Total Current Liabilities (4)	745.198	665.222	334.581
TOTAL	1873.231	1700.199	1302.783
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	272.123	254.943	223.346
(ii) Intangible Assets	0.885	2.485	4.085
(iii) Capital work-in-progress	0.000	1.582	8.109
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	260.138	245.398	75.320
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	533.146	504.408	310.860
(2) Current assets
(a) Current investments	4.629	5.629	4.629
(b) Inventories	195.204	251.549	205.779
(c) Trade receivables	720.057	532.308	317.624
(d) Cash and cash equivalents	228.896	249.798	310.151
(e) Short-term loans and advances	83.736	64.193	62.434
(f) Other current assets	107.563	92.314	91.306
Total Current Assets	1340.085	1195.791	991.923
TOTAL	1873.231	1700.199	1302.783

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	NET TURNOVER	1642.900	1308.400	1009.200
Less	EXPENSES	NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX	112.100	82.700	NA
Less	TAX	17.037	8.161	NA
	PROFIT/(LOSS) AFTER TAX	95.063	74.539	56.600
	Earnings Per Share (Rs.)	47.54	--	--

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
Return on Total Assets (PBT/Total Assets)	(%)	5.98	4.87	0.00
Return on Investment (ROI) (PBT/Networth)		0.10	0.08	0.00
Debt Equity Ratio (Total Debt /Networth)		0.44	0.44	0.15
Current Ratio (Current Asset/Current Liability)		1.80	1.80	2.96

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	19.995	19.995	19.995
Reserves & Surplus	917.128	991.666	1086.729
Net worth	937.123	1011.661	1106.724
long-term borrowings	6.173	1.828	0.056
Short term borrowings	138.802	446.208	485.150
Total borrowings	144.975	448.036	485.206
Debt/Equity ratio	0.155	0.443	0.438

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
Net Turnover	1009.200	1308.400	1642.900
		29.647	25.566

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Net Turnover	1009.200	1308.400	1642.900
Profit	56.600	74.539	95.063
	5.61%	5.70%	5.79%

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	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)	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	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

NOTE:

The registered office of the company has been shifted from 1-11-252/1/A, Gowra Klassic Building, Behind Shopper’s Stop, Begumpet, Hyderabad – 500016, Telangana, India to the present address w.e.f. 01.04.2013.

PERFORMANCE HIGHLIGHTS:

During the year, the Company has recorded a Net turnover of Rs. 1642.900 Million (Previous Year Rs.1308.400 Million) and achieved a PBT of Rs. 112.100 Million. (Previous year Rs.82.700 Million)

Three Phase and Single Phase Smart Energy Meters supplied to Major Utilities all over India has contributed to about 44% of total turnover during this year. Another major contributor is POS Terminals with 44%.

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Deferred Payment liabilities	0.000	1.129
Total	0.000	1.129

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90135715	08/05/2015 *	1,300,000,000.00	State Bank of Hyderabad	Commercial Branch, Surya Towers, S P Road, Secunderabad, Telangana - 500003, India	C55033328
2	90134061	27/10/2003 *	22,000,000.00	State Bank of Hyderabad	Commercial Branch, SP Road, Secunderabad, Telangana, India	-
3	90133881	01/03/1996	24,000,000.00	State Bank of Hyderabad	New Bhoguuda, SP Road, Secunderabad, Telangana, India	-
4	90133800	28/07/1995	500,000.00	State Bank of Hyderabad	New Bhiugida, Secunderabad, Telangana, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Plant and Machinery

· Testing Equipments

· Office Equipments

· Furniture and Fixtures

· Vehicles

· Computer

· Generator

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.63.90
UK Pound	1	Rs.97.98
Euro	1	Rs.71.82

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	DIV
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--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		46

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.