MIRA INFORM REPORT

Report No. :	322602.2
Report Date :	22.05.2015

IDENTIFICATION DETAILS

Name :	NETPLACE TECHNOLOGIES PRIVATE LIMITED
Registered Office :	105, Nahar and Sheth Industrial Estate Cardinal Greciuos Road, Chakala Andheri (East), Mumbai – 400093, Maharashtra
Tel. No.:	91-22-40053901
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.07.1998
Com. Reg. No.:	11-115671
Capital Investment / Paid-up Capital :	Rs. 0.502 Million
CIN No.: [Company Identification No.]	u72100mh1998ptc115671
TAN No.: [Tax Deduction & Collection Account No.]	Mumn06304E
PAN No.: [Permanent Account No.]	AAACM4761E
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of computer networking products, peripherals, laptops and software licenses. etc.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (61)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. For the financial year ended 2014, the company has reported declining in topline growth of 13.73% over previous due to which profit of the company has declined. However company has maintained profitability margins at 4.70% during a year under a review. Rating also takes into consideration company’s adequate financial risk profile backed by healthy net worth and zero debt balance sheet of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. In view of adequate financial profile, the company can be considered for normal 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.

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Shekhar Misal
Designation :	Accounts manager
Contact No.:	91-22-40053901
Date :	15.05.2015

LOCATIONS

Registered Office / Hade Office :	105, Nahar and Sheth Industrial Estate Cardinal Greciuos Road, Chakala Andheri (East), Mumbai – 400093, Maharashtra, India
Tel. No.:	91-22-40053901/42213950/55 / 23893931 / 23893932
Fax No.:	91-22-40053915 / 23856194
E-Mail :	shekhar@netplacetechnologies.com dhaval@netplacetechnologies.com ereturn@rediffmail.com
Website :	www.netplacetechnologies.com
Warehouse :	Gala No. 1, Sankalp Industrial Estate, Kaman Sativali Road, Gokhiware Village, Vasai (East), Thane, Maharashtra India
Tel No.:	95250-245 1910/245 1911

DIRECTORS

As on 30.09.2014

Name :	Mr. Dhaval Vinod Doshi
Designation :	Director
Address :	1903, Odyssey – 1, Hiranandani, Gardens, Powai, Mumbai – 400076, Maharashtra, India
Date of Birth/Age :	03.01.1973
Date of Appointment :	08.07.1998
DIN No.:	01197982
Name :	Mr. Milan Vinod Doshi
Designation :	Director
Address :	Flat No. 1707, 17^th Floor, Casa Grande, Tower-II, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India
Date of Birth/Age :	08.05.1976
Date of Appointment :	01.11.2003
DIN No.:	01416203

KEY EXECUTIVES

Name :	Mr. Shekhar Misal
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Veena V. Doshi	30000
Dhaval V. Doshi	20000
Milan V. Doshi	210
Total	50210

Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading of computer networking products, peripherals, laptops and software licenses. etc.
Products :	IT products
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
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 :

Not Divulged

Bankers :

Bank Name	ICICI Bank Limited
Branch	Not Divulged
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

Banking Relations :	--
Auditors :
Name :	B j Doshi and Company Chartered Accountants
Address :	Solitaire Building, Above Bank of India, 80, S. V. Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India
Tel. No.:	91-22-26053986 / 26053987 / 26041715
Fax No.:	91-22-26052315
Email :	bjdco@vsnl.net
Qualification :	B.Com and FCA
PAN No.:	AADFB5236G
Memberships :	Not Available
Collaborators :	Not Available
Enterprises Owned or significantly influenced by the director Mr. Dhaval V. Doshi	Interface Connectronics Private Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50,210	Equity Shares	Rs.10/- each	Rs. 0.502 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.502	0.502	0.502
(b) Reserves & Surplus	220.230	199.713	173.623
(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)	220.732	200.215	174.125
(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	0.000	0.000	0.000
(d) long-term provisions	2.517	2.386	2.285
Total Non-current Liabilities (3)	2.517	2.386	2.285
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	57.696	76.297	33.472
(c) Other current liabilities	4.572	6.943	5.223
(d) Short-term provisions	0.280	0.265	0.253
Total Current Liabilities (4)	62.548	83.505	38.948
TOTAL	285.797	286.106	215.358
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	15.288	17.195	14.997
(ii) Intangible Assets	0.000	0.000	0.000
(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	61.246	61.247	50.229
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.762	0.738	0.732
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	77.296	79.180	65.958
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	32.670	52.853	29.644
(c) Trade receivables	128.158	147.164	96.602
(d) Cash and cash equivalents	37.041	4.411	22.595
(e) Short-term loans and advances	1.305	0.221	0.169
(f) Other current assets	9.327	2.277	0.390
Total Current Assets	208.501	206.926	149.400
TOTAL	285.797	286.106	215.358

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Gross Turnover	447.990	513.617	379.590
	Other Income	NA	NA	NA
	TOTAL (A)	NA	NA	NA
Less	EXPENSES
	TOTAL (B)	NA	NA	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	35.470	41.548	36.858
Less	FINANCIAL EXPENSES (D)	0.433	0.529	2.796
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	35.037	41.019	34.062
Less/ Add	DEPRECIATION/ AMORTISATION (F)	4.021	2.316	1.814
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	31.016	38.703	32.248
Less	TAX (H)	10.499	12.613	10.977
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	20.517	26.090	21.271
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	199.712	173.622	152.351
	Balance Carried to the B/S (J+K+L-M)	220.229	199.712	173.622
	EARNINGS IN FOREIGN CURRENCY
	For Sales	2.632	6.008	11.493
	Commission and Incentives	10.154	5.585	14.140
	Pre-tax profit of Singapore branch	8.524	17.147	0.000
	Less: corporate tax of Singapore branch	(0.423)	(1.247)	0.000
	Net earnings of overseas branch	8.101	15.899	0.000
	TOTAL EARNINGS	28.988	43.392	25.633
	IMPORTS CIF VALUE	14.590	24.096	67.876
	Earnings / (Loss) Per Share (Rs.)	408.63	519.63	423.66

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)	(%)	4.58	5.08	5.60
Operating Profit Margin (PBIDT/Sales)	(%)	7.92	8.09	9.71
Return on Total Assets (PBT/Total Assets}	(%)	13.81	17.21	19.53
Return on Investment (ROI) (PBT/Networth)		0.14	0.19	0.19
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		3.33	2.48	3.84

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	0.502	0.502	0.502
Reserves & Surplus	173.623	199.713	220.230
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	174.125	200.215	220.732
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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)
(Gross Turnover)	379.590	513.617	447.990
		35.308	-12.777

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
(Gross Turnover)	379.590	513.617	447.990
Profit	21.271	26.090	20.517
	5.60%	5.08%	4.58%

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	No
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

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

· Industrial Gala

· Furniture and Fixtures

· Motor Car

· Air Conditioner

· Computers

· Security camera

· Fax Machine

· Vacuum Cleaner

· Water Cooler

· Phones

· Investor

· Plasma

· Water Dispenser

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.63.70
UK Pound	1	Rs.98.92
Euro	1	Rs.70.67

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		61

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.