Ingram Micro India Limited

R
INDIA-03-JUN-2013-LOT5.ZIP@INGRAM_MICRO_INDIA_LIMITED_-_201710_27-NOV-2012.DOC PAGE NO. : 1
MIRA INFORM REPORT

Report Date : 27.11.2012 IDENTIFICATION DETAILS Name : Formerly Known As : Registered Office : INGRAM MICRO INDIA LIMITED (w.e.f. 13.05.2009) TECH PACIFIC (INDIA) LIMITED 5 Floor, Block B, Godrej IT Park, 02 Godrej Business District, Pirojshanagar, Vikhroli (West), Mumbai 400079, Maharashtra India 31.03.2011 05.03.1996 11-136340 Rs.184.928 Millions
th
Country : Financials (as on) : Date of Incorporation : Com. Reg. No.: Capital Investment / Paidup Capital : CIN No.:
[Company Identification No.]
U72900MH1996PLC136340 MUMT06887G
TAN No.:
[Tax Deduction & Collection Account No.]
PAN No.:
[Permanent Account No.]
AABCT1296R A Closely Held Public Limited Liability Company. Distributor of Products like Computers, Peripherals, Supplies, Softwares etc. 500 (Approximately)
Legal Form : Line of Business : No. of Employees :
RATING & COMMENTS MIRAs Rating : RATING A (64) STATUS PROPOSED CREDIT LINE
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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
Maximum Credit Limit : Status : Payment Behaviour : Litigation : Comments :
USD 26000000 Good Regular Clear Subject is a well established and a reputed company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. 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 June 30, 2012 Country Name India Risk Category Insignificant Low Moderate High Very High Restricted Off-credit ECGC Classification A1 A2 B1 B2 C1 C2 D Previous Rating (31.03.2012) A1 Current Rating (30.06.2012) A1
INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited nonagricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.
Source : CIA
RBI DEFAULTERS LIST STATUS Subjects name is not enlisted as a defaulter in the publicly available RBI Defaulters list. EPF (Employee Provident Fund) DEFAULTERS LIST STATUS Subjects name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters list as of 31-03-2012. LOCATIONS Registered Office : Tel. No.: Fax No.: E-Mail : Website : Location : Southern Branches : 5 Floor, Block B, Godrej IT Park, 02 Godrej Business District, Pirojshanagar, Vikhroli (West), Mumbai 400079, Maharashtra, India 91-22-67960101/ 67960149/ 39894645/ 67960247 91-22-67960102/ 67960103/ 39891000/ 30561100/ 39894645 sunil.j@ingrammicro.co.in prabhakar.i@ingrammicro.co.in http://www.imonline.co.in Owned Located at: Bangalore Chennai Cochin Coimbatore Hubli Hyderabad Madurai
th

Western Branches : Pudhucherry Trivandrum Vizag
Located at: Ahmedabad Baroda Bhopal Indore Surat Mumbai Nagpur Pune Raipur Goa
Northern Branches :
Located at: Chandigarh Dehradun Delhi Jaipur Jammu Lucknow Ludhiana Parwanoo
Eastern Branches :
Located at: Bhubaneshwar Guwahati Kolkata Patna Ranchi
DIRECTORS (AS ON 30.09.2011) Name : Designation : Address : Date of Birth/Age : Qualification : Experience : Date of Appointment : DIN No.: Mr. Jaishankar Vaidyanathan Krishnan Managing Director Flat No.1201, Somerset Hiranandani Garden, Powai, Mumbai 400076, Maharashtra, India 20.07.1957 MMM, BE (E and C) 34 Years 01.01.2009 00101652

Other Directorship Current design ation of the Directo r/ Design ated Partner Managi ng director
S.N o.
CIN/LLPIN U72900MH1996PL C136340
Name of Company/ LLP
the
Date of appoint ment at current designa tion 01/01/2 009
Original date of appoint ment 27/10/2 001
Date of cessati on
Comp any/ LLP Status
Defaul ting status
U72200MH1999P TC121716
U65923MH1981PL C024957
INGRAM MICRO INDIA LIMITED GRAINGER INDUSTRIAL SUPPLY INDIA PRIVATE LIMITED SURAJAMI INVESTMENT AND TRADING COMPANY LIMITED
Active
NO
Directo r
18/11/2 002
18/11/2 002
14/09/2 007
Active
NO
Directo r
27/12/2 002
27/12/2 002
Active
NO
Name : Designation : Address : Date of Birth/Age : Date of Appointment : DIN No.: Other Directorship
Mr. Shailendra Narendra Gupta Director No. 9, Nathan Road, #09-04, Regency Park, Singapore 248 730 17.09.1962 01.09.2001 00966943 Current design ation of the Directo r/ Design ated Partner Directo r
S.N o. 1
CIN/LLPIN U72900MH1996P LC136340
U72200MH1999P TC121716
3 Name :
U65923MH1981P LC024957
Name of the Company/ LLP INGRAM MICRO INDIA LIMITED GRAINGER INDUSTRIAL SUPPLY INDIA PRIVATE LIMITED SURAJAMI INVESTMENT AND TRADING COMPANY LIMITED
Date of cessati on -
Comp any/ LLP Status Active
Defaul ting status NO
Directo r
19/09/2 001
19/09/2 001
14/09/2 007
Active
NO
Directo r
30/12/2 003
30/12/2 003
Active
NO
Mr. Stephen John Paine

Designation : Address : Date of Birth/Age : Date of Appointment : DIN No.: Name : Designation : Address : Date of Birth/Age : Date of Appointment : DIN No.: Name : Designation : Address : Date of Birth/Age : Date of Appointment : DIN No.: Other Directorship Director Le Grove service apartments M 206, 32 Orange Grove Road, Singapore 258 354 17.01.1958 05.12.2006 01025188 Mr. Wai Kong NG Director BLK 4, Block Resvervoir View #0 310, Singapore 479233 24.10.1959 09.07.2010 03130301 Mr. Prabhakar Venkatakrishnan Iyer Additional Director Flat 201, A Wing, Glengate, Hiranandani Gardens, Powai, Mumbai 400076, Maharashtra, India 09.07.1964 01.12.2011 00116774 Current designa tion of the Director / Design ated Partner
S.N o.
CIN/LLPIN U70101MH1994PT C080650
U92100MH2004PT C146706 U72900MH1996PL C136340
Name of the Company/ LLP SANDAKAN PROPERTIES PRIVATE LIMITED SONY MUSIC ENTERTAINMENT INDIA PRIVATE LIMITED INGRAM MICRO INDIA LIMITED
Date of cessati on
Comp any/ LLP Status Strike off
Defaul ting status
Director Wholetime director Wholetime director
NO
30/09/2 005 01/12/2 011
30/09/2 005 01/12/2 011
05/04/2 007
Active
NO
Active
NO
Name : Designation : Qualification : Experience : Date of Appointment : Name : Designation : Qualification :
Mr. S. P. Achwal Director Product Management BE(Electr) 22 years 04.01.1990 Mr. Bimal Das Director Product Management MBA, B. Sc.

Experience : Date of Appointment : 24 Years 09.12.1996
KEY EXECUTIVES Name : Designation : Address : Date of Birth/Age : Date of Appointment : PAN No.: Name : Designation : Qualification : Experience : Date of Appointment : Mr. Sunil Gajanan Joglekar Company Secretary F 105, Sumer Castle, LBS Road, Thane West, Mumbai 400601, Maharashtra, India 18.12.1964 13.04.2009 ACNPJ2440C Mr. Prabhakar Iyer Chief Financial Officer B. Com, FCA,LLB (Gen) 23 years 02.02.2009
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN (AS ON 30.09.2011) Names of Shareholders Shailendra Gupta Jaishankar Vaidyanathan Krishnan Bimal Das Sanjay Achawal Mitradutta Mophapatra Prabhakar V. Iyer Ingram Micro Asia Limited, Singapore Ingram Micro Asia Holdings Inc., USA Total No. of Shares 1 2 1 1 1 1 18492710 100 18492817
(AS ON 30.09.2011) Equity Shares Break up Category Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] Total Percentage 100.00
100.00
BUSINESS DETAILS

Line of Business : Products : Distributor of Products like Computers, Peripherals, Supplies, Softwares etc. Products Description Computer Systems Computer Peripherals Consumables Item Code No. 84714101.1 847160.05/60.12/60.198/847170.00 847330.50/ 847330.99
GENERAL INFORMATION No. of Employees : Bankers : 500 (Approximately) Facilities : Central Bank of India, Corporate Finance Branch, 1 Floor, M S Road, Fort, Mumbai 400023, Maharashtra, India Bank of America Royal Bank of Scotland Unsecured Loans 31.03.2011 31.03.2010
st
(Rs. In Millions) Rupee Term Loans Banks Unsecured Foreign Currency Loans Banks Unsecured Total NOTE: Repayable within One Year. The above loan is guaranteed by a corporate guarantee for Rs. 7,330,850,000 given by Ingram Micro Inc., USA. 1680.537 1077.861 2722.657 127.981
2758.398
2850.639
Banking Relations : Auditors : Name : Address : PAN No.: Holding Company :
--
Price Waterhouse Chartered Accountants 252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai 400028, Maharashtra, India AAEFP5579P Ingram Micro Inc., USA Ingram Micro Asia Holdings Inc., USA Ingram Micro Asia Limited, Singapore Techpac Mauritius Limited (Up to November, 2009) Ingram Micro (India) Exports Pte. Limited
Subsidiary Company :

Fellow Subsidiary Companies : Ingram Ingram Ingram Ingram Ingram Ingram Ingram Micro Australia Pty. Limited Micro NZ Limited Micro Singapore (South Asia) Pte Limited Micro Asia Pacific Pte. Limited Micro Malaysia SDN BHD Micro (Thailand) Limited Micro Lanka (Private) Limited
CAPITAL STRUCTURE (AS ON 30.09.2011) Authorised Capital : No. of Shares Type 19000000 1300000 Equity Share 1% Redeemable Cumulative Convertible Preferences Shares Total
Value Rs.10/- each Rs.100/- each
Amount Rs.190.000 millions Rs.130.000 millions Rs. 320.000 millions
Issued, Subscribed & Paid-up Capital : No. of Shares Type 18492817 Equity Share
Value Rs.10/- each
Amount Rs.184.928 millions
NOTES: Of the above, 18492710 Equity shares are held by Ingram Micro Asia Limited, the Holding Company

FINANCIAL DATA [all figures are in Rupees Millions] ABRIDGED BALANCE SHEET SOURCES OF FUNDS SHAREHOLDERS FUNDS 1] Share Capital 2] Share Application Money 3] Reserves & Surplus 4] (Accumulated Losses) NETWORTH LOAN FUNDS 1] Secured Loans 2] Unsecured Loans TOTAL BORROWING DEFERRED TAX LIABILITIES TOTAL APPLICATION OF FUNDS FIXED ASSETS [Net Block] Capital work-in-progress INVESTMENT DEFERREX TAX ASSETS CURRENT ASSETS, LOANS & ADVANCES Inventories Sundry Debtors Cash & Bank Balances Other Current Assets Loans & Advances Total Current Assets Less : CURRENT LIABILITIES & PROVISIONS Sundry Creditor Other Current Liabilities Provisions Total Current Liabilities Net Current Assets MISCELLANEOUS EXPENSES TOTAL 29.970 0.000 1.168 181.348 37.206 0.000 1.168 238.449 52.496 0.000 1.168 258.054 31.03.2011 31.03.2010 31.03.2009
184.928 0.000 6415.505 0.000 6600.433 0.000 2758.398 2758.398 0.000 9358.831
184.928 0.000 5562.567 0.000 5747.495 0.000 2850.639 2850.639 0.000 8598.134
157.800 27.128 4409.547 0.000 4594.475 0.000 1261.405 1261.405 0.000 5855.880
7056.269 9149.194 522.522 0.000 2598.133 19326.118 8888.997 1206.714 84.062 10179.773 9146.345 0.000 9358.831
5637.486 8788.788 344.187 0.000 2026.907 16797.368 7754.986 602.819 118.252 8476.057 8321.311 0.000 8598.134
3961.918 5243.954 153.238 0.000 2033.119 11392.229 5342.505 291.038 214.524 5848.067 5544.162 0.000 5855.880

PROFIT & LOSS ACCOUNT PARTICULARS SALES Income Other Income TOTAL Less EXPENSES Consumption Materials Changes Inventories Employee Related Expenses Administrative, Selling and Other Expenses TOTAL (B) Less PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) FINANCIAL EXPENSES (D) 80595.913 637.829 1238.872 82472.614 1642.939 63289.481 565.839 807.762 64663.082 1898.905 63589.821 575.369 932.868 65098.058 1853.126 83770.212 345.341 84115.553 66298.263 263.724 66561.987 66747.935 203.249 66951.184 31.03.2011 31.03.2010 31.03.2009
(A)
Less
291.444 1351.495
120.329 1778.576
248.697 1604.429
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) Less/ Add DEPRECIATION/ AMORTISATION (F)
18.340
20.952
23.098
PROFIT BEFORE TAX (E-F) Less TAX PROFIT AFTER TAX (G-H) Add PREVIOUS YEARS BALANCE BROUGHT FORWARD BALANCE CARRIED TO THE B/S
(G) (H) (I)
1333.155 480.217 852.938 5378.726
1757.624 604.605 1153.019 4225.707
1581.331 555.767 1025.564 3200.143
6231.664
5378.726
4225.707
EARNINGS IN FOREIGN CURRENCY FOB Exports Sales Sales Overseas Branch Rebate (Netted off against cost of sales) Service Fee Charged to wholly Owned Subsidiary Service Fees and expenses Charges to Wholly Owned
24.462 1386.953 386.483 44.005 3.923
45.751 0.000 209.983 41.520 0.000
18.861 0.000 199.345 46.007 0.000

Subsidiary Overseas Branch Expenses recovered TOTAL EARNINGS IMPORTS Traded Goods TOTAL IMPORTS Earnings Per Share (Rs.) 23200.777 23200.777 46.12 18743.146 18743.146 62.35 18905.084 18905.084 55.46 24.047 1869.873 56.312 353.566 82.027 346.240
KEY RATIOS PARTICULARS PAT / Total Income Net Profit Margin (PBT/Sales) Return on Total Assets (PBT/Total Assets} Return on Investment (ROI) (PBT/Networth) Debt Equity Ratio (Total Liability/Networth) Current Ratio (Current Asset/Current Liability) (%) (%) 31.03.2011 1.01 1.59 31.03.2010 1.73 2.65 31.03.2009 1.53 2.36
(%)
6.89
10.44
13.51
0.20
0.31
0.34
1.96
1.97
1.55
1.90
1.98
1.95
LOCAL AGENCY FURTHER INFORMATION Sr. No. 1] 2] 3] 4] 5] 6] 7] 8] 9] 10] Check List by Info Agents Year of Establishment Locality of the firm Constitutions of the firm Premises details Type of Business Line of Business Promoter's background No. of employees Name of person contacted Designation of contact person Available in Report (Yes / No) Yes Yes Yes No Yes Yes Yes Yes No No

11] 12] 13] 14] 15] 16] 17] 18] 19] 20] 21] 22] 23] 24] 25] 26] 27] 28] 29] 30] 31] 32] 33] 34] Turnover of firm for last three years Profitability for last three years Reasons for variation <> 20% Estimation for coming financial year Capital in the business Details of sister concerns Major suppliers Major customers Payments terms Export / Import details (if applicable) Market information Litigations that the firm / promoter involved in Banking Details Banking facility details Conduct of the banking account Buyer visit details Financials, if provided Incorporation details, if applicable Last accounts filed at ROC Major Shareholders, if available PAN of Proprietor/Partner/Director, if available Passport No of Proprietor/Partner/Director, if available Voter ID No of Proprietor/Partner/Director, if available External Agency Rating, if available Yes Yes ---------------------No Yes Yes No No No No ------------------------------------------Yes Yes ------------------------------------------Yes Yes Yes Yes No No No No
OPERATIONS: The Accounts for the year were considered by the Audit Committee at its meeting held on August 31, 2011 and the financial statements were forwarded to the board along with comments and recommendation. During the year, the Company achieved total turnover of Rs.83770.212 Millions and after providing for depreciation of Rs.18.340 Millions and Finance Cost of Rs.291.444 Millions, the Company earned a profit before tax of Rs.1333.155 Millions. After providing for Income Tax (Current tax Rs.425.000 Millions and Deferred tax of Rs.57.100 Millions, the Profit after tax stood at Rs.852.938 Millions. During the year the business grew across all the segments. The demands generated in the market were largely from the consumer and public sector projects. The company gained market share and growth however due to high competitive market there was drop in margin and pressure on working capital. During the year the Singapore branch commenced its business. The revenue and expenses of the branch have been included in the financials.

BUSINESS OUTLOOK: The economic climate in India as well as global markets is expected to continue to be subdued. This is likely to result is lower than expected growth rates in IT infrastructure deployment in small and medium businesses. The company expects growth to come primarily from Government and public sector segment for IT product lines, however, this is likely to exert pressure on working capital for the company. The consumer market is expected to grow strongly with increasing demand for smart phones, laptops and tablets. This is likely to benefit the company. The company continues to focus on cost optimization and working capital improvement while developing services capability to improve overall profitability.
CONTINGENT LIABILITIES Particulars Claims against the Company not acknowledged as debt * Guarantees given by the Companys Bankers Guarantee issued to Bank Sales tax demands disputed by the Company * Custom duty tax matters disputed by the Company * Income and Wealth Tax demands disputed by the Company * 31.03.2011 49.631 3.774 37.286 374.920 17.208 24.441 (Rs. In Millions) 31.03.2010 49.717 3.520 0.000 394.722 11.050 68.367
* The timing and amount of cash flows, if any, that may arise from the above matters, will be determined only on settlement of the cases. FIXED ASSETS: Leasehold Improvement Machinery and Equipments Computer Hardware Vehicles Goodwill Assets taken on finance lease vehicles.
AS PER WEBSITE PRESS RELEASE Zoho Corp. Inks Partnership with Ingram Micro to Market SaaS Based Products in India Chennai, Tamilnadu, India, Monday, June 25, 2012 -- (Business Wire India) Helping people work online, Zoho, one of the pioneers in the global SaaS space, today announced its partnership with Ingram Micro, to market its SaaS based Business Solutions in India.

Zoho Corp. has appointed Ingram Micro India Limited as their distributor partner to resell all Zoho products (Productivity Applications, Collaboration Applications and Business Applications) in India and other SAARC countries such as Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka. In this partnership, Ingram Micro will sell all of Zohos cloud based products through its over 10,000 reseller partners in these countries. Zoho has over 25+ cloud based products that range from CRM to Mail, Office Suite, Sites, Project Management, Invoicing, Web conferencing and more. Speaking on the partnership, Sudhakar S Marthi, Vice President Sales and Marketing APAC, Zoho Corp. said, Customers use Zoho products to run their business processes, manage their information and be more productive while at the office or on the go, without having to worry about obsolete hardware or software. We are delighted to have partnered with Ingram Micro, which will help us further strengthen our position in the market. Jaishankar Krishnan, Managing Director, Ingram Micro India Limited said, Ingram Micro continues to increase its association with vendors focused on delivering great applications using cloud. Our comprehensive approach to building a portfolio of cloud services will help our partners in identifying and implementing the solutions of tomorrow. Our partnership with Zoho, brings a great suite of products to our partner ecosystem, giving them the ability to integrate a proven and established solution in their offerings to customers About Zoho Zoho is a division of Zoho Corporation, a privately-held and profitable company, with offices in California, Austin, New Jersey, Chennai, Singapore, Tokyo and Beijing. Zoho Corporation serves the technology needs of more than 50,000 customers worldwide. Zoho offers a comprehensive suite of award-winning on-line business, productivity and collaboration products on the cloud. Customers use Zoho products to run their business processes, manage their information and be more productive while at the office or on the go. Zoho has online products ranging from CRM to Mail, Office Suite, Project Management, Invoicing, Web conferencing and more.

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. 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. Asset Declaration : No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction. Record on Financial Crime : Charges or conviction registered against subject: Records on Violation of Anti-Corruption Laws : Charges or investigation registered against subject: Records on Intl Anti-Money Laundering Laws/Standards : Charges or investigation registered against subject:
2]
3]
4]
None
5]
None
6]
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. 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. 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. Press Report : No press reports / filings exists on the subject.
8]
9]
10]

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 companys 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 US Dollar UK Pound Euro Unit 1 1 1 Indian Rupees Rs.55.69 Rs.89.20 Rs.72.10
INFORMATION DETAILS Report Prepared by : NTH

SCORE & RATING EXPLANATIONS SCORE FACTORS HISTORY PAID-UP CAPITAL OPERATING SCALE FINANCIAL CONDITION --BUSINESS SCALE --PROFITABILIRY --LIQUIDITY --LEVERAGE --RESERVES --CREDIT LINES --MARGINS DEMERIT POINTS --BANK CHARGES --LITIGATION --OTHER ADVERSE INFORMATION MERIT POINTS --SOLE DISTRIBUTORSHIP --EXPORT ACTIVITIES --AFFILIATION --LISTED --OTHER MERIT FACTORS TOTAL RANGE 1~10 1~10 1~10 1~10 1~10 1~10 1~10 1~10 1~10 -5~5 YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO POINTS 5 6 7 8 8 8 7 8 7 --YES NO NO NO NO YES NO YES 64
This score serves as a reference to assess SCs 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%) Credit history (10%) Ownership background (20%) Market trend (10%) Payment record (10%) Operational size (10%)

RATING EXPLANATIONS
RATING >86 71-85 Aaa Aa
STATUS Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums Overall operation is considered normal. Capable to meet normal commitments. Capability to overcome financial difficulties seems comparatively below average. Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity Absolute credit risk exists. Caution needed to be exercised New Business
PROPOSED CREDIT LINE Unlimited Large
56-70
Fairly Large
41-55 26-40 11-25 <10 -
Ba B Ca C NB
Satisfactory Small Limited with full security Credit not recommended -
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.

Ingram Micro India Limited

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INDIA-03-JUN-2013-LOT5.ZIP@INGRAM_MICRO_INDIA_LIMITED_-_201710_27-NOV-2012.DOC PAGE NO. : 1

MIRA INFORM REPORT

Legal Form : Line of Business : No. of Employees :

INDIA-03-JUN-2013-LOT5.ZIP@INGRAM_MICRO_INDIA_LIMITED_-_201710_27-NOV-2012.DOC PAGE NO. : 2

Maximum Credit Limit : Status : Payment Behaviour : Litigation : Comments :

INDIAN ECONOMIC OVERVIEW

INDIA-03-JUN-2013-LOT5.ZIP@INGRAM_MICRO_INDIA_LIMITED_-_201710_27-NOV-2012.DOC PAGE NO. : 3

INDIA-03-JUN-2013-LOT5.ZIP@INGRAM_MICRO_INDIA_LIMITED_-_201710_27-NOV-2012.DOC PAGE NO. : 4

Located at: Bhubaneshwar Guwahati Kolkata Patna Ranchi

INDIA-03-JUN-2013-LOT5.ZIP@INGRAM_MICRO_INDIA_LIMITED_-_201710_27-NOV-2012.DOC PAGE NO. : 5

CIN/LLPIN U72900MH1996PL C136340

Name of Company/ LLP

Date of appoint ment at current designa tion 01/01/2 009

Original date of appoint ment 27/10/2 001

Comp any/ LLP Status

Defaul ting status

CIN/LLPIN U72900MH1996P LC136340

Date of appoint ment at current designa tion 01/09/2 001

Original date of appoint ment 01/09/2 001

Comp any/ LLP Status Active

Defaul ting status NO

Mr. Stephen John Paine

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CIN/LLPIN U70101MH1994PT C080650

U92100MH2004PT C146706 U72900MH1996PL C136340

Date of appoint ment at current designa tion 01/04/2 002

Original date of appoint ment 01/04/2 002

Comp any/ LLP Status Strike off

Defaul ting status

Director Wholetime director Wholetime director

30/09/2 005 01/12/2 011

30/09/2 005 01/12/2 011

Name : Designation : Qualification : Experience : Date of Appointment : Name : Designation : Qualification :

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Banking Relations : Auditors : Name : Address : PAN No.: Holding Company :

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Value Rs.10/- each Rs.100/- each

Amount Rs.190.000 millions Rs.130.000 millions Rs. 320.000 millions

Value Rs.10/- each

Amount Rs.184.928 millions

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(G) (H) (I)

1333.155 480.217 852.938 5378.726

1757.624 604.605 1153.019 4225.707

1581.331 555.767 1025.564 3200.143

24.462 1386.953 386.483 44.005 3.923

45.751 0.000 209.983 41.520 0.000

18.861 0.000 199.345 46.007 0.000

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INFORMATION DETAILS Report Prepared by : NTH

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RATING >86 71-85 Aaa Aa

PROPOSED CREDIT LINE Unlimited Large

41-55 26-40 11-25 <10 -

Satisfactory Small Limited with full security Credit not recommended -