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Circuit Systems (India) Ltd. Company History and Annual Growth Details

The Company was originally incorporated on 8th February 1995 as
Circuit Systems (India) Limited at Gujarat, Dadra & NagarHaveli vide
Registration Number: 04 - 24524. Thereafter the company was converted
into a Private Limited Company andconsequently the name was changed
to Circuit Systems (India) Private Limited on 01st August 2001
and thereafter the company was reconverted into public company
and the name was changed to Circuit Systems (India) Limited vide
fresh certificate of incorporation dated 07th October 2005

At the time of incorporation, the Registered office of the company
was situated at 167, Azad Society, Ambawadi, Ahmedabad-380015
which was then shifted to B-9-10, GIDC Electronic Estate, Sector -25,
Gandhinagar -382044 w.e.f. 17th June 1996,and thereafter it was shifted B-24
GIDC Electronic Estate, Sector -25, Gandhinagar w.e.f. 11th December 1997,
and thereafter it was shifted to B 14, Neeldeep Appartment, Opp. Milan Park,
B/h Lad Society, Vastrapur, Ahmedabad w.e.f. 15th March,2001 and thereafter
it was shifted to D - 402, Status Apartment, Thaltej Road, Nr Drive in
Thaltej, Ahmedabad w.e.f. 01st September, 2001 and thereafter w.e.f.
01st December, 2001 the registered office of the Company has been
shifted to B-24 GIDC Electronic Estate, Sector 25, Gandhinagar-382 044.

The Company is in the market of PCB manufacturing since last more
than one decade. PCB industry in India has matured significantly and has
started getting recognition world over. Market of PCB is increasing very fast as
Electronic industry as a whole is growing at vary rapid speed For Details
please refer to page no 39 of this prospectus.

The Company was incorporated on 8th February 1995 as Circuit Systems
(India) Limited,thereafter during the Year 1997 company had purchased
the Electronic Division(PCB business) situated at B/24 GIDC Electronics
Estate Gandhinagar including the Leasehold land, hereiditaments and
premises together with Buildings, Factory Assets and structures,
standing thereon and also Plant and Machinery including spare parts
which are in stock on transfer date and are required for the maintenance
of Plant and Machinery other tangibles and intangible assets for the
manufacture of Printed Circuit Boards of StovecIndustries Limited against
consideration of Rs 450 lakhs which waspaid in cash .This was first
major expansion in the history of company.

The next mile stone which the company has achieved as a part of its
expansion programme was in the year 2003 by purchasing plant and
machineries related to PCB Business from Gujarat Narmada Valley
Fertiliser Corporation Limited (GNFC) against consideration of
Rs 404.05 Lakhs which was paid in cash.

The existing major customers of the company are TVS Electronics
Limited, Bharat Electronics Limited, Essae Electronics Private Ltd.,
India Nippon Electricals Ltd., Secure Meters Limited, Consolidated
Dynamics Pvt. Ltd., ITI Limited, ESSAETeraoka Ltd., Inductotherm (India)
Private Limited, Varroc Engineering private Limited, Photoequip India
Limited,JNS Instruments Limited , Donex Industries Limited at national
level however company is exporting its products to overseas customers
approximately 30 % of its annual production. For exploring the opportunities
available in USA & other western part of the world ie Countries like
Belgium,France and Italy, company has started participating in trade fairs,
exhibitions and also started approaching various potential customers
for supply of its product. However no formal agreement is entered into
with any of the customers till date.To cope up with the emerging
opportunities in the domestic as well as overseas market, company has set
up its new unit in the SEZ in GIDC, Gandhinagar as a part of proposed
expansion plan.

MAJOR EVENTS

Years Events

1995 Incorporation of the Company

1997 Took over Electronic Division (PCB Business)
of Stovec Industries Limited.

1998 ISO 9000 certification obtained

2003 Purchase of Plant & Machinery related to PCB business from GNFC.

2005 TS 16949:2002 certification obtained from DNV Netherlands

2008

- Circuit Systems India Ltd has informed that the Board of Directors of the Company at its meeting held on January 29, 2008, has approved the appointment of Mr. Anil T Patel as additional director of the Company. The appointment is w.e.f. January 29, 2008.

-Circuit Systems India Ltd has informed that the Board of Directors of the Company at its meeting held on July 28, 2008, has approved the appointment of Mr. Sombhai H Patel as alternate director to Mr. Maganbhai H Patel, Director of the Company. The appointment is w.e.f. July 28, 2008.

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