MIRA INFORM REPORT

Report No. :	486690
Report Date :	18.01.2018

IDENTIFICATION DETAILS

Name :	SYSCON INSTRUMENTS PRIVATE LIMITED
Registered Office :	Plot No. 66, Electronic City, Hosur Road, Bangalore - 560100, Karnataka
Tel. No.:	91-80-28520772/3/4
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	21.06.1978
Com. Reg. No.:	08-003336
Capital Investment / Paid-up Capital :	INR 39.939 Million
CIN No.: [Company Identification No.]	U33125KA1978PTC003336
IEC No.:	Not Divulged
GSTIN/UIN:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECS8483N
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in Manufacturing of Electronic Instruments and Special Purpose Machineries mainly used by Automobile Industries. [Registered Activity]
No. of Employees :	Information denied by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 280000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1978. It is a manufacturer of special purpose machinery and electronic components. For the financial year 2017, the company has achieved slight growth in its revenue as compared to the previous along with an average profit margin of 6.46%. The satisfactory financial risk profile of the company is marked by improving net worth base along with comfortable debt balance sheet profile. Rating takes into account the subject’s long established track record of business operations along with extensive experience of its promoters. Payments are reported to be usually correct. In view of aforesaid, 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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 18.01.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DENIED BY

Name :	Mr. Sanjaya
Designation :	Director
Contact No.:	91-9663325288
Date :	17.01.2018

(91-80-28520772/3/4) – Ringing

LOCATIONS

Registered Office/Factory :	Plot NO 66, Electronic City, Hosur Road, Bangalore-560100, Karnataka, India
Tel. No.:	91-80-28520772/3/4
Mobile No.:	91-9663325288 (Mr. Sanjaya)
Fax No.:	91-80-28520775
E-Mail :	mms@sysconinstruments.com sanjaya.rk@sysconinstruments.com marketing@sysconinstruments.com info@sysconinstruments.com
Website :	http://www.sysconinstruments.com
Factory 2 :	Plot No.75 (Spl.), 1st Main, KSSIDC Industrial Estate, Hebbal Industrial Area, Mysore – 570016, Karnataka, India
Factory 3:	88, 89, Electronics City, Phase I, Hosur Road, Bangalore-560100, Karnataka, India
Local Offices:	Located at: Bangalore Plot 66, Keonics Electronics City, Phase I, Hosur Road, Bangalore – 560100, Karnataka, India
	Mysore Plant II : 75 (SPL) 1st Main Road, Kssidc Industrial Estate, industrial area, Mysore - 570016
	Bangalore - Plant III 88, 89, Electronics City, Phase I, Hosur Road, Bangalore – 560100, Karnataka, India
Branch offices:	Located At: Bangalore : 30/1, 'B' Block, P.M.L Layout, M.R.C.R. Extension, Magadi Main Road, Bangalore - 560 040, Karnataka, India Chennai : Syscon Instruments Private Limited No:45A, Plot: AF-3, ECPL - Farms, Kandasamy Nagar Extension. Kallarai, Poonamallee - Chennai - 600056, Tamilnadu, India Gurugram : Syscon Instruments Private Limited, Syscon House, Plot No.313, Sector 47, Gurugram – 122001, Haryana, India Pune : Syscon Instruments Private Limited, Plot No. 302, Waghgre Embire Wing No: A-1, Pimpri Morewadi, Pune

DIRECTORS

AS ON 31.03.2017

Name :

Mr. M. Mallikarjuna Swamy

Designation :

Wholetime Director

Address:

No.44, 6th Cross, BSK 2nd Stage (Ct Bed), Bangalore-560070, Karnataka, India

Date of Birth / Age :

08.10.1943

Date of Appointment :

21.06.1978

DIN No.:

00043182

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U31900KA2008PTC046703	SYSCON CALIBRATION CENTRE PRIVATE LIMITED	09/06/2008	-
U31501KA2010PTC053414	SYSCON METERING SOLUTIONS PRIVATE LIMITED	29/04/2010	-

Name :

Mr. Kasturi Rangan

Designation :

Wholetime Director

Address:

397, Sector VII, H.S.R Layout, Bangalore-560034, Karnataka, India

Date of Birth / Age :

21.10.1950

Date of Appointment :

21.06.1978

DIN No.:

00043867

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U31900KA2008PTC046703	SYSCON CALIBRATION CENTRE PRIVATE LIMITED	09/06/2008	-
U31501KA2010PTC053414	SYSCON METERING SOLUTIONS PRIVATE LIMITED	29/04/2010	-
U29248KA2016PTC086456	TRADINCO SYSCON MEASUREMENT SOLUTIONS PRIVATE LIMITED	24/02/2016	-

Name :

Mr. Ranganatha Anantharam

Designation :

Wholetime Director

Address:

No.3, 8th Cross, 5th Main, RPC Layout, Vijayanagar, Bangalore-560040, Karnataka, India

Date of Birth / Age :

08.09.1951

Date of Appointment :

21.06.1978

Name :

Mr. Veerabhadrappa Siddamallappa Gooli

Designation :

Wholetime Director

Address:

'Devee' No.63, 6th Main, BDA Layout, Avalahalli, Bsk Iii Stage, Bangalore-560085, Karnataka, India

Date of Birth / Age :

02.08.1948

Date of Appointment :

21.06.1978

DIN No.:

00044275

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U31900KA2008PTC046703	SYSCON CALIBRATION CENTRE PRIVATE LIMITED	05/07/2008	-

Name :

Mr. Vinay Ranganatha

Designation :

Wholetime Director

Address:

No.3, 8th Cross, 5th Main, RPC Layout Vijayanagar, Bangalore-560040, Karnataka, India

Date of Birth / Age :

03.09.1983

Date of Appointment :

12.04.2008

DIN No.:

02225203

Name :

Mrs. Jahnavi Kastutirangan

Designation :

Wholetime Director

Address:

397, Sector 7, HSR Layout, 10th Main Bangalore-560034, Karnataka, India

Date of Birth / Age :

09.10.1989

Date of Appointment :

12.04.2008

DIN No.:

02905682

Name :

Mr. Harish Bhavanishankar Shenoy

Designation :

Director

Address:

Flat No.201, Star View Apartments, 5th 'C' Cross, Kodihalli Main Road, Off Old Airport Road, Bangalore-560008, Karnataka, India

Date of Appointment :

24.03.2016

DIN No.:

07422389

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U29248KA2016PTC086456	TRADINCO SYSCON MEASUREMENT SOLUTIONS PRIVATE LIMITED	02/03/2016	-

Name :

Mr. Sanjaya

Designation :

Director

Address:

No.1468/1,5th Cross, 1st Stage, 2nd Phase, Chandra Layout, Vijayanagar, Bangalore-560040, Karnataka, India

Date of Appointment :

24.03.2016

DIN No.:

07422400

Name :

Mr. Sundaram Ramkumar

Designation :

Director

Address:

27/3, 1st Floor, Cauvery Nagar, Kamakshipalya Police Station Road, Bangalore-560079, Karnataka, India

Date of Appointment :

24.03.2016

DIN No.:

07422411

MAJOR SHAREHOLDERS

AS ON 31.03.2017

SHAREHOLDING FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 11.09.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	74.43
Public/Other than promoters- Individual/Hindu Undivided Family- Indian	16.93
Public/Other than promoters - Body corporate	8.64
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Manufacturing of Electronic Instruments and Special Purpose Machineries mainly used by Automobile Industries. [Registered Activity]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Manufacture of other special-purpose machinery n.e.c.	28299
Manufacture of other electronic components n.e.c	26109

Name and Description of main products / services	ITC Code of the Product/service
Presure Cells Vacuun Cells Leak Testing Machines and Leak Detection Equipment	90260000
Load Cells, Displacements Sensors and Indicators, SPMS, etc.	90300000
Spares and Accessories etc.	90330000

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers (From Indirect Source) :

• Honda Motorcycle and Scooter India
• Maruti Suzuki
• Renault
• Nissan
• Toyota
• Mahindra and Mahindra
• Hero Motocorp Limited
• Aisin
• Denso

Reference :	Bosco
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

Information denied by the management

Bankers :

Banker Name :	Syndicate Bank
Branch :	No. 204, CHBC Layout, Vijayanagar Branch, Bangalore – 560040, Karnataka, India
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
From Banks	67.076	75.862
SHORT TERM BORROWING
Overdraft – secured from syndicate Bank	33.595	46.138
Total	100.671	122.000

Auditors :
Name :	Bollurodi and Associates Chartered Accountants
Address :	No. 21, 1^st Floor, Akshsya Residency, 4th Main Near Tata Silk Farm ,K R A Road, Bangalore-560004, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	AANFB0371N
Membership No:	020521
Memberships :	Not Available
Collaborators :	Not Available
Associates Company :	Syscon Metering Solutions Private Limited – [U31501KA2010PTC053414]

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	INR 10/- each	INR 40.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3993880	Equity Shares	INR 10/- each	INR 39.939 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	39.939	36.491	12.163
(b) Reserves & Surplus	58.724	36.905	52.370
(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)	98.663	73.396	64.533
(3) Non-Current Liabilities
(a) long-term borrowings	90.359	87.890	114.649
(b) Deferred tax liabilities (Net)	3.245	3.497	3.204
(c) Other long term liabilities	0.000	7.535	2.567
(d) long-term provisions	5.764	0.000	0.000
Total Non-current Liabilities (3)	99.368	98.922	120.420
(4) Current Liabilities
(a) Short term borrowings	33.594	46.138	25.025
(b) Trade payables	87.190	47.108	38.221
(c) Other current liabilities	61.710	18.476	57.458
(d) Short-term provisions	30.393	25.940	18.396
Total Current Liabilities (4)	212.887	137.662	139.100
TOTAL	410.918	309.980	324.053
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	122.262	126.505	118.431
(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	4.201	4.201	4.201
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	2.937	1.630	0.457
(e) Other Non-current assets	3.904	5.234	6.006
Total Non-Current Assets	133.304	137.570	129.095
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	139.262	58.720	50.852
(c) Trade receivables	54.074	27.760	36.263
(d) Cash and cash equivalents	52.870	62.046	93.574
(e) Short-term loans and advances	31.408	23.884	14.269
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	277.614	172.410	194.958
TOTAL	410.918	309.980	324.053

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	321.608	319.545	247.081
	Other Income	5.885	4.532	9.968
	TOTAL	327.493	324.077	257.049
Less	EXPENSES
	Cost of Materials Consumed	207.284	170.105	141.128
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(59.654)	(3.894)	(14.169)
	Employees benefits expense	101.139	94.277	80.280
	Other expenses	24.744	28.254	21.765
	TOTAL	273.513	288.742	229.004
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	53.980	35.335	28.045
Less	FINANCIAL EXPENSES	15.933	7.833	9.670
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	38.047	27.502	18.375
Less/ Add	DEPRECIATION/ AMORTISATION	7.130	6.974	7.484
	PROFIT/ (LOSS) BEFORE TAX	30.917	20.528	10.891
Less	TAX	10.148	7.288	4.946
	PROFIT/ (LOSS) AFTER TAX	20.769	13.240	5.945
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	0.211	0.248	0.356
	Freight	3.624	5.582	17.032
	TOTAL EARNINGS	3.835	5.830	17.388
	IMPORTS
	Raw Materials	0.459	0.508	0.000
	Components and Stores parts	56.328	39.358	30.736
	TOTAL IMPORTS	56.787	39.866	30.736
	Earnings / (Loss) Per Share (INR)	5.2	3.63	4.89

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	8.851	7.598	6.597
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	52.952	11.574	3.322

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	61.37	31.71	53.57
Account Receivables Turnover (Income / Sundry Debtors)	5.95	11.51	6.81
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	153.53	101.08	98.85
Inventory Turnover (Operating Income / Inventories)	0.39	0.60	0.55
Asset Turnover (Operating Income / Net Fixed Assets)	0.44	0.28	0.24

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.76	0.75	0.80
Debt Equity Ratio (Total Liability / Networth)	1.35	1.93	2.27
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.16	1.88	2.16
Fixed Assets to Networth (Net Fixed Assets / Networth)	1.24	1.72	1.84
Interest Coverage Ratio (PBIT / Financial Charges)	3.39	4.51	2.90

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	6.46	4.14	2.41
Return on Total Assets ((PAT / Total Assets) * 100)	%	5.05	4.27	1.83
Return on Investment (ROI) ((PAT / Networth) * 100)	%	21.05	18.04	9.21

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.30	1.25	1.40
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.65	0.83	1.04
G-Score Ratio Financial (Networth / Total Assets)	0.24	0.24	0.20
G-Score Ratio Debt (Debts / Equity Capital)	3.33	3.88	12.03
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.30	1.25	1.40

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	12.163	36.491	39.939
Reserves & Surplus	52.370	36.905	58.724
Net worth	64.533	73.396	98.663
long-term borrowings	114.649	87.890	90.359
Short term borrowings	25.025	46.138	33.594
Current Maturities of Long term debt	6.597	7.598	8.851
Total borrowings	146.271	141.626	132.804
Debt/Equity ratio	2.267	1.930	1.346

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	247.081	319.545	321.608
		29.328	0.646

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	247.081	319.545	321.608
Profit/(Loss)	5.945	13.240	20.769
	2.41%	4.14%	6.46%

ABRIDGED BALANCE SHEET [CONSOLIDATED]

SOURCES OF FUNDS	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	43.858	19.531
(b) Reserves & Surplus	23.634	41.332
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds	67.492	60.863
(3) Non-Current Liabilities
(a) Long-term borrowings	88.693	114.752
(b) Deferred tax liabilities (Net)	3.541	3.204
(c) Other long term liabilities	7.535	2.567
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities	99.769	120.523
(4) Current Liabilities
(a) Short term borrowings	50.962	29.794
(b) Trade payables	51.393	41.875
(c) Other current liabilities	18.498	57.474
(d) Short-term provisions	26.059	18.422
Total Current Liabilities	146.912	147.565
TOTAL	314.173	328.951
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	129.883	122.673
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	4.201	4.201
(c) Deferred tax assets (net)	0.000	0.008
(d) Long-term Loan and Advances	1.638	0.465
(e) Other Non-current assets	5.234	6.007
Total Non-Current Assets	140.956	133.354
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	59.187	51.051
(c) Trade receivables	27.813	36.301
(d) Cash and cash equivalents	62.333	93.975
(e) Short-term loans and advances	23.884	14.270
(f) Other current assets	0.000	0.000
Total Current Assets	173.217	195.597
TOTAL	314.173	328.951

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS		31.03.2016	31.03.2015
	SALES
		Revenue from Operations	321.400	247.114
		Other Income	4.532	9.968
		TOTAL	325.932	257.082
Less	EXPENSES
		Cost of Conversion	170.322	141.236
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(3.894)	(14.168)
		Employees benefits expense	95.662	81.343
		Other expenses	29.258	22.896
		TOTAL	291.348	231.307
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		34.584	25.775
Less	FINANCIAL EXPENSES		8.400	10.128
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		26.184	15.647
Less/ Add	DEPRECIATION/ AMORTISATION		7.837	7.531
	PROFIT/ (LOSS) BEFORE TAX		18.347	8.116
Less	TAX		7.340	4.945
	PROFIT/ (LOSS) AFTER TAX		11.007	3.171
	Earnings/ (Loss) Per Share (INR)		2.51	1.62

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	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	Yes
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:

Subject was incorporated as Private Limited Company on 21.06.1978 (U33125KA1978PTC003336) with limited liability under the Companies Act, 1956. It is engaged in the industrial activities of producing electronic instruments and special purpose machineries mainly used by automobile industries.

The Company is a other than Small company (SC) as defined in the general instructions in respect of accounting standards notified under the Companies Act, 2013. Accordingly, the Company has complied with the Accounting Standards as applicable to Small and Medium Sized Company.

BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIR:

The Company has achieved sales turnover of INR 321.608 million of against INR 319.545 Million in previous year. Profit before tax is INR 30.917 million and profit after tax at INR 20.769 million during the year as against INR 20.528 million and INR 13.240 million respectively in the previous year. The Growth momentum was not consistent through most of the year.

Considering the overall sluggish conditions in Indian Economy and in the manufacturing sector, the operating numbers can be deemed as good.

The Company will intensify its rigorous cost restructuring exercises and efficiency improvements which will further result in significant savings through continued focus on cost controls and process efficiencies thereby enabling the Company to maintain profitable growth in the current economic scenario.

They are very hopeful that the current trend will continue and further accelerate the growth and the Company will also move ahead with the time by reaping more benefits out of that.

UNSECURED LOANS:

Particulars	31.03.2017 INR In Million	31.03.2016 INR In Million
LONG TERM BORROWINGS
From Directors	11.506	3.581
From Relatives of Directors and Shareholders	0.600	1.071
From Shareholders	11.176	7.376
Total	23.282	12.028

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G10886844	100048186	SYNDICATE BANK	10/08/2016	-	-	807496.0	#204, CHBS LAYOUT, VIJAYANAGARBANGALOREBANGALOREKA560040IN
2	C41565540	10545348	SYNDICATE BANK	30/12/2014	-	-	1440000.0	#204, CHBS LAYOUT, VIJAYANAGARBANGALOREKA560040IN
3	C54226576	10483644	SYNDICATE BANK	21/02/2014	29/04/2015	-	175000000.0	NO. 204, CHBS LAYOUTVIJAYANAGARABANGALOREKA560040IN
4	B25393687	10317868	SYNDICATE BANK	13/10/2011	-	-	7000000.0	VIJAYANAGAR BRANCH,NO.204, CHBS LAYOUT,VIJAYANAGARBANGALOREKA560040IN
5	C33257916	10006725	SYNDICATE BANK	04/05/2006	31/10/2014	-	3500000.0	#204, CHBS LAYOUT, VIJAYANAGARBANGALOREKA560040IN
6	C33258369	10096823	SYNDICATE BANK	22/10/2007	-	11/11/2014	13500000.0	VIJAYANAGAR BRANCHVIJAYANAGARBANGALOREKA560040IN
7	C33258781	10273191	SYNDICATE BANK	01/02/2011	-	31/10/2014	15000000.0	VIJAYANAGAR BRANCH, 204 ,CHBS LAYOUTVIJAYANAGARBANGALOREKA560040IN

FIXED ASSETS:

• Factory Building
• Plant & Machinery
• Furniture & Fixtures
• Office Equipment
• Gen Set
• Motor cycles, scooters and other mopeds
• Company Bus
• Computer

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	INR
US Dollar	1	INR 63.97
UK Pound	1	INR 88.12
Euro	1	INR 78.34

INFORMATION DETAILS

Information Gathered by :	SHA
Analysis Done by :	PRI
Report Prepared by :	NKTS

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.