MIRA INFORM REPORT

Report No. :	327131
Report Date :	15.06.2015

IDENTIFICATION DETAILS

Name :	BEETEL TELETECH LIMITED (w.e.f. 29.12.2009)
Formerly Known As :	BHARTI TELETECH LIMITED
Registered Office :	First Floor, Plot No.16, Udyog Vihar, Phase IV, Gurgaon – 122 015, Haryana
Tel. No.:	91-124-4823500
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.03.1999
Com. Reg. No.:	05-042204
Capital Investment / Paid-up Capital :	Rs.50.700 million
CIN No.: [Company Identification No.]	U32204HR1999PLC042204
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELB04576F
PAN No.: [Permanent Account No.]	AABCB3989M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in trading of landline phones, modems, smart phones, storage devices, information technology peripherals, network equipments, board room solutions, DTH devices, display devices, voice and data products and also engaged in manufacturing of landline phones.
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 374500
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Beetel Teletech Limited was incorporated on 30^th March, 1999. It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Haryana. Its authorized share capital is Rs.100.000 million and its paid up capital is Rs.50.916 million. It is an established company having moderate track record. It distributes mobile handsets and accessories, fixed line telephones, enterprise solutions, and IT peripherals in India and internationally. There seems drastic dip in the gross sales and reserves of the company. The company has incurred a loss from its operations during 2014. However, trade relations are reported to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2013.

INFORMATION DECLINED

Management non-cooperative

(Tel. No.: 91-124-4823500)

LOCATIONS

Registered Office/ Corporate Office :	First Floor, Plot No.16, Udyog Vihar, Phase IV, Gurgaon – 122 015, Haryana, India
Tel. No.:	91-124-4823500
Fax No.:	91-124-4146130
E-Mail :	usrinivas@bttindia.com share.bttl@beetel.in gaurav.arora@beetel.in anupam.garg@bharti.in
Website :	http://www.bharti-teletech.net www.beetel.in
Factory 1 :	1-4, Rural Industrial Complex, Village Humbran, Ludhiana – 140 110, Punjab, India
Tel. No.:	91-161-2871261/ 2871
Fax No.:	91-161-2871361
Factory 2 :	Plot No.46-50, Mapusa Industrial Estate, Mapusa, Goa – 403 507, India
Branch Office 1 :	301-302, Third Floor, Grace Chambers, Chakala ,Near West Express Highway, Andheri (East), Mumbai – 400 064, Maharashtra, India
Branch Office 2 :	49/89, Prince Gulam Md Shah Road, Near Golf Green (Doordarshan Kendra), Kolkata – 700 033, West Bengal, India
Tel. No.:	91-33-24174924
Branch Office 3 :	Al - Latheef Towers, 3^rd Floor, Unit No.2, Union Street, Infantry Road Cross, Bangalore – 560 001, Karnataka, India
Tel. No.:	91-80-43452500/ 43452501
IT Service Center/ Landline Service Center :	Located at: · Andhra Pradesh · Assam · Bihar · Chhattisgarh · Chandigarh · Delhi · Gujarat · Haryana · Himanchal Pradesh · Jammu and Kashmir · Jharkhand · Karnataka · Kerala · Madhya Pradesh · Maharashtra · Orissa · Punjab · Rajasthan · Tamilnadu

DIRECTORS

AS ON 26.09.2013

Name :

Mr. Manoj Kumar Kohli

Designation :

Director

Address :

AR 609A, The Aralias, DLF Golf Links, DLF Citi Phase V, Gurgaon – 122 009, Haryana, India

Date of Appointment :

31.10.2014

DIN No. :

00162071

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	U74899DL1993PLC144025	BHARTI BROADBAND LIMITED TFR. FROM MUMBAI TO DELHI	Managing director	29/09/2006	04/04/2006	-	Amalgamated	NO
2	U74899DL2002PLC144026	SATCOM BROADBAND EQUIPMENT LIMITED TFR. FROM MUMBAI TO DELHI	Managing director	29/09/2006	04/04/2006	-	Amalgamated	NO
3	U74899DL1995PLC067527	BHARTI HEXACOM LIMITED	Director	27/09/2006	25/08/2006	26/02/2010	Active	NO
4	U92200DL2006PLC156075	BHARTI TELEMEDIA LIMITED	Director	26/12/2007	30/11/2006	08/02/2012	Active	NO
5	L64201DL2006PLC156038	BHARTI INFRATEL LIMITED	Director	26/12/2007	30/11/2006	31/03/2008	Active	NO
6	L74899DL1995PLC070609	BHARTI AIRTEL LIMITED	Director	01/04/2014	01/08/2008	04/02/2015	Active	NO
7	U32204DL2008PLC183976	BHARTI TELEPORTS LIMITED	Director	10/09/2009	06/10/2008	26/04/2012	Active	NO
8	U92100DL2007PLC170574	INDUS TOWERS LIMITED	Director	26/06/2009	08/04/2009	19/04/2010	Active	NO
9	U74993DL2007PLC163757	BHARTI ENTERPRISES LIMITED.	Managing director	30/09/2014	24/12/2013	-	Active	NO
10	U52599DL2007PLC159150	CEDAR SUPPORT SERVICES LIMITED	Director	26/09/2014	20/01/2014	-	Active	NO
11	U74900DL2007PTC169368	GOURMET INVESTMENTS PRIVATE LIMITED	Director	30/09/2014	29/01/2014	-	Active	NO
12	U74120DL2007PLC158956	CENTUM LEARNING LIMITED	Director	10/09/2014	11/02/2014	-	Active	NO
13	U93000DL2010PLC208520	CENTUM WORKSKILLS INDIA LIMITED	Director	10/09/2014	11/02/2014	-	Active	NO
14	U51909DL2007PLC158953	BHARTI RETAIL LIMITED	Additional director	11/02/2014	11/02/2014	23/05/2014	Active	NO
15	U70101DL2003PLC123387	BHARTI REALTY LIMITED.	Additional director	20/02/2014	20/02/2014	23/05/2014	Active	NO
16	U15133HR2004PTC041215	FIELDFRESH FOODS PRIVATE LIMITED	Director	02/09/2014	24/02/2014	-	Active	NO
17	U32204HR1999PLC042204	BEETEL TELETECH LIMITED	Director	31/10/2014	24/02/2014	-	Active	NO
18	U66030KA2007PLC043362	BHARTI AXA GENERAL INSURANCE COMPANY LIMITED	Director	02/07/2014	07/03/2014	-	Active	NO
19	U66010MH2005PLC157108	BHARTI AXA LIFE INSURANCE COMPANY LIMITED	Director	06/06/2014	07/03/2014	-	Active	NO
20	U67120MH1996PTC250182	FIRST AMERICAN SECURITIES PRIVATE LIMITED	Director	06/06/2014	07/03/2014	-	Active	NO
21	U74140KA2007PTC043520	GIBA HOLDINGS PRIVATE LIMITED	Director	16/09/2014	07/03/2014	-	Active	NO
22	U55101DL2011PTC228190	ATRIUM RESTAURANTS INDIA PRIVATE LIMITED	Director	30/09/2014	19/03/2014	-	Active	NO
23	U45208DL2003PLC123388	BHARTI REALTY HOLDINGS LIMITED	Director	30/09/2014	31/03/2014	-	Active	NO
24	U72200HR1999PLC041214	COMVIVA TECHNOLOGIES LIMITED	Director	10/09/2014	26/05/2014	-	Active	NO

Name :

Mr. Alok Shankar

Designation :

Whole-time director

Address :

Flat No 4237, Pocket B 5 and 6, Sector B, Vasant Kunj, New Delhi – 110007, India

Date of Appointment :

30.10.2014

DIN No. :

01122940

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	U74899DL1998PTC094807	BRIGHTPOINT INDIA PRIVATE LIMITED	Managing director	21/12/2006	21/12/2006	20/08/2009	Active	NO
2	U32204HR1999PLC042204	BEETEL TELETECH LIMITED	Whole-time director	31/10/2014	01/10/2014	-	Active	NO

Name :

Mr. Dharshan Nanayakkara

Designation :

Director

Address :

40, Eglinton Street, Kew, Victoria, 3101, Australia

Date of Appointment :

31.10.2014

DIN No. :

06930415

KEY EXECUTIVES

Name :	Mr. Gaurav Arora
Designation :	Secretary
Address :	H. No.854, Saraswati Vihar, MG Road, Gurgaon – 122 001, Haryana, India
Date of Birth/Age :	15.03.1977
Date of Appointment :	18.11.2010
PAN No.:	AGIPA1391E
Name :	Mr. Puneet Khanna
Designation :	Chief Executive Officer
Address :	8-51, Ramesh Nagar, New Delhi – 110 015, India
Date of Appointment :	01.10.2014
PAN No. :	AAJPK7067L
Name :	Mr. Alok Empty Shankar
Designation :	Chief Executive Officer
Address :	Flat No.4237, Pocket B 5 and 6, Sector B, Vasant Kunj, New Delhi – 110 007, India
Date of Appointment :	09.01.2015
PAN No. :	CSOPS5689F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2013

SHAREHOLDERS AND ALLOTTES DETAILS FILE ATTACHED

AS ON 26.09.2013

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings (Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	0.97
Bodies corporate	95.95
Other top fifty shareholders	0.92
Others	2.16
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in trading of landline phones, modems, smart phones, storage devices, information technology peripherals, network equipments, board room solutions, DTH devices, display devices, voice and data products and also engaged in manufacturing of landline phones.

Products/ Services :

Product/ Service Description	Item Code No. (ITC Code)
Electrical and Electronic Equipments or Appliance	85171110

Brand Names :

• “BEETEL”
• “MOD”
• “BHARTI”

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

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 :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	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 :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

Information declined by the Management.

Bankers :

Banker Name	State Bank of India
Branch Address	The Great Eastern Centre, 70 Ground Floor, Commercial Branch Nehru Place, New Delhi – 110 019, 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

HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
Working capital loans from banks (Working Capital demand loan from banks is secured against the hypothecation of inventories, receivables, other current assets, all movable fixed assets of the Company excluding Plant and Machinery at Ludhiana factory. This Loan is repayable on demand and carries interest @ 10.75% p.a.)	80.000	100.000
Loans repayable on demand from banks (Cash Credit from banks is secured against the hypothecation of Inventories, receivables, other current assets, plant at Ludhiana factory and other fixed assets. The cash credit is repayable on demand and carries interest @11.60% to 13.75% p.a.)	30.950	259.350
Other loans and advances (Buyer's credit from bank is secured against the hypothecation of inventories, receivables, other current assets, plant at Ludhiana factory and other fixed assets. It is repayable with interest @ 0.83% p.a.)	61.000	0.000
Total	171.950	359.350

Banking Relations :	--
Auditors :
Name :	S.R. Batliboi and Associates LLP Chartered Accountants
Address :	Golf View, Corporate Tower-B, Near DLF Golf Course, Sector-42, Sector Road, Gurgaon – 122 002, Haryana, India
PAN N Income-tax PAN of auditor or auditor's firm :	ACHFS9118A
Memberships :	Not Available
Collaborators :	Not Available
Related Parties where control exists irrespective of whether transactions have occurred or not - Significant shareholders :	Bharti (SBM) Holdings Private Limited, India (CIN No.: U65923DL2007PTC168197) Bharti (RBM) Holdings Private Limited, India (CIN No.: U65923DL2007PTC168640) Bharti (RM) Holdings Private Limited, India (CIN No.: U65923DL2007PTC168641)
Subsidiary Company :	Beetel Teletech Singapore Private Limited, Singapore
Enterprises owned or significantly influenced by key management personnel or their relatives :	Bharti Airtel Limited, India (CIN No.: L74899DL1995PLC070609) Bharti Reality Holding Limited, India (CIN No.: U45208DL2003PLC123388) Bharti Axa General Insurance Company Limited, India (CIN No.: U66030KA2007PLC043362)

CAPITAL STRUCTURE

AFTER 31.10.2014

Authorised Capital : Rs.100.000 million

Issued, Subscribed & Paid-up Capital : Rs.50.916 million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5070000	Equity Shares	Rs.10/- each	Rs.50.700 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	50.700	50.700	50.700
(b) Reserves & Surplus	80.370	388.690	606.980
(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)	131.070	439.390	657.680
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	13.270	12.720	9.830
(d) Long-term provisions	27.090	37.790	39.180
Total Non-current Liabilities (3)	40.360	50.510	49.010
(4) Current Liabilities
(a) Short term borrowings	171.950	359.350	437.960
(b) Trade payables	821.450	1374.430	1839.350
(c) Other current liabilities	75.170	64.400	99.790
(d) Short-term provisions	196.280	174.230	177.970
Total Current Liabilities (4)	1264.850	1972.410	2555.070
TOTAL	1436.280	2462.310	3261.760
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	92.150	105.680	130.950
(ii) Intangible Assets	12.880	21.410	31.180
(iii) Capital work-in-progress	0.070	0.000	0.180
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	500.000	500.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	140.750	119.790	89.750
(e) Other Non-current assets	0.860	0.830	0.500
Total Non-Current Assets	246.710	747.710	752.560
(2) Current assets
(a) Current investments	45.000	0.000	0.000
(b) Inventories	450.160	630.730	1175.970
(c) Trade receivables	583.770	924.290	1182.620
(d) Cash and cash equivalents	32.260	65.650	27.510
(e) Short-term loans and advances	73.550	89.750	115.020
(f) Other current assets	4.830	4.180	8.080
Total Current Assets	1189.570	1714.600	2509.200
TOTAL	1436.280	2462.310	3261.760

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	7964.860	8719.410	14665.250
		Other Income	45.980	19.530	13.550
		TOTAL	8010.840	8738.940	14678.800
Less	EXPENSES
		Cost of Materials Consumed	495.350	385.100	431.750
		Purchases of Stock-in-Trade	6442.530	6941.920	13115.450
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	193.990	532.490	(509.270)
		Employees benefits expense	235.500	317.560	434.610
		Other expenses	358.810	655.330	1469.850
		Exceptional items	455.000	0.000	0.000
		TOTAL	8181.180	8832.400	14942.390
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(170.340)	(93.460)	(263.590)
Less	FINANCIAL EXPENSES		110.240	72.690	55.960
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(280.580)	(166.150)	(319.550)
Less/ Add	DEPRECIATION/ AMORTISATION		30.390	37.810	38.740
	PROFIT/ (LOSS) BEFORE TAX		(310.970)	(203.960)	(358.290)
Less	TAX		(2.650)	3.900	2.850
	PROFIT/ (LOSS) AFTER TAX		(308.320)	(207.860)	(361.140)
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of goods exported (included in Revenue)	161.380	382.510	1102.370
		Management Fees (included in Miscellaneous Income)	2.400	2.400	0.000
		Others	9.230	0.000	0.000
	TOTAL EARNINGS		173.010	384.910	1102.370
	IMPORTS
		Raw materials and components	229.130	190.340	219.710
		Capital goods	4.410	0.000	0.000
		Traded goods	5429.76	5587.090	6951.690
		Stores and spares	5.950	9.170	6.320
	TOTAL IMPORTS		5669.250	5786.600	7177.720
	Earnings/ (Loss) Per Share (Rs.)		(60.81)	(41.00)	(71.23)

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)	(%)	(3.87)	(2.38)	(2.46)
Operating Profit Margin (PBIDT/Sales)	(%)	(2.14)	(1.07)	(1.80)
Return on Total Assets (PBT/Total Assets}	(%)	(21.65)	(10.39)	(12.97)
Return on Investment (ROI) (PBT/Networth)		(2.37)	(0.46)	(0.54)
Debt Equity Ratio (Total Debt /Networth)		1.31	0.82	0.67
Current Ratio (Current Asset/Current Liability)		0.94	0.87	0.98

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	50.700	50.700	50.700
Reserves & Surplus	606.980	388.690	80.370
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	657.680	439.390	131.070
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	437.960	359.350	171.950
Total borrowings	437.960	359.350	171.950
Debt/Equity ratio	0.666	0.818	1.312

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)
Revenue from operations	14665.250	8719.410	7964.860
		(40.544)	(8.654)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	14665.250	8719.410	7964.860
Profit	(361.140)	(207.860)	(308.320)
	(2.46%)	(2.38%)	(3.87%)

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

CORPORATE INFORMATION:

The Company, was incorporated in India on March 30, 1999. The Company is engaged in trading of landline phones, modems, smart phones, storage devices, information technology peripherals, network equipments, board room solutions, DTH devices, display devices, voice and data products. The Company is also engaged in manufacturing of landline phones.

BUSINESS OVERVIEW:

During FY 2013-14, the Company has achieved gross revenue of Rs.8056.560 million previous year Rs.8779.630 million. The profit/ (loss) before tax for FY 2013-14 was Rs. (310.970 million) as compared to the profit/ (loss) before tax of the previous financial year which was Rs. (203.960 million).

FUTURE PLANS:

During the current year, the Company plans to focus on the following in an attempt to growth its profits:

a) New business segment of mobile phones and accessories since India reported to be the fastest growing market for smart phones.

b) Emphasis on landline business with a new product launches to drive market share;

c) Increase the Company’s reach in Tier 2 cities for the memory business;

d) Increase the number of channel partners and cities addressed by enterprise verticals;

e) Continuous focus on defence, power and public sector segments for network solution business;

f) Achieving higher productivity levels in the factory through cost effective operations, systems and controls; and

g) Focused optimisation of the operating expenses.

The Company is expecting profitable growth on the robust platform created in last quarter of FY 201314.

SECURED / UNSECURED FINANCIAL FACILITIES

The secured financial facilities availed by the Company is a cash credit facility amounting to Rs.171.950 million which is against the hypothecation of stocks, debtors and other current assets of the Company and first charge on all the fixed assets of the Company.

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10410116	20/01/2015 *	700,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA	C50015981
2	10263379	23/03/2012 *	1,050,000,000.00	KOTAK MAHINDRA BANK LIMITED	15-16, UGF, AMBADEEP BUILDING, 14, K.G.MARG, NEW DELHI, DELHI - 110001, INDIA	B35241496
3	80012133	28/05/2013 *	400,000,000.00	IDBI BANK LIMITED	INDIAN RED CROSS SOCIETY BUILDING, 1 RED CROSS ROAD, POST BAG NO.231, NEW DELHI, DELHI - 110001, INDIA	B77853299

* Date of charge modification

CONTINGENT LIABILITIES (AS ON 31.03.2014):

a) Guarantees outstanding as at March 31, 2014 amounting to Rs.359.520 million. This includes standby letter of credit facility amounting to USD 3,000,000 from a bank on behalf of Company’s wholly owned subsidiary Beetel Teletech Singapore Private Limited. Further, a corporate guarantee amounting to USD 3,000,000 issued to GE Capital Services Pte. Limited on behalf of Company’s wholly owned subsidiary Beetel Teletech Singapore Private Limited is included above.

b) Claims against the Company not acknowledged as debts (excluding cases where the possibility of any outflow in settlement is remote):

Income Tax demand pending appeal Rs.3.700 million. Sales tax/excise duty/service tax demands Rs.10.940 million against which Rs.2.520 million has been paid under protest/ court order. Others Rs.5.130 million against which Rs.0.300 million has been paid under protest /court orders

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Equipments

· Furniture and Fixtures

· Vehicles

· Computer Equipments

· Office Equipments

· Leasehold Improvements

Intangible Assets

· 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.64.03
UK Pound	1	Rs.99.27
Euro	1	Rs.71.90

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RAS
Report Prepared by :	SMN/TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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		27

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.