MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
HARTEX RUBBER PRIVATE LIMITED |
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Formerly Known As : |
KEMRUB PRIVATE LIMITED |
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Registered Office : |
No. 6-3-865, Madhupala Towers, Ameerpet, Hyderabad – 500 016, Andhra
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.01.1961 |
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Com. Reg. No.: |
01-43629 |
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CIN No.: [Company
Identification No.] |
U25199AP1961PTC043629 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDH00112A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Cycle Tubes and Tyres. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
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 |
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Maximum Credit Limit : |
USD 962290 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company meeting its normal commitments
timeously. Trade relations are fair. General financial position is good. The company can be considered good for normal business dealings. |
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INFORMATION PARTED
BY
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Name : |
Mrs. Suman Bagla |
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Designation : |
Director |
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Date : |
19.06.2008 |
LOCATIONS
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Registered Office : |
No. 6-3-865, Madhupala Towers, Ameerpet, Hyderabad – 500 016, Andhra
Pradesh |
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Tel. No.: |
91-40-23402438 / 23412968 |
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Fax No.: |
91-40-23402762 |
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E-Mail : |
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Website : |
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Area : |
3000 Sq. ft |
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Location : |
Rented |
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Factory : |
Plot No. 106, Sri Venkateshwara Co- Op. Industrial Estate, Bollaram,
Medak – 500038, Andhra Pradesh, India |
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Tel. No.: |
91- 40 - 32924450, 32924456, 3299811, 32927280, 32927275 |
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Fax No.: |
91- 8458- 279545 |
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Branches : |
Located at : v 4-8-769, Gowliguda Chaman, Hyderabad – 500 012, Andhra Pradesh v Door No. 18-02-97 “A”, Ashok Nagar, Tirupati, Andhra Pradesh v No. 11-3-29 / B, 1st Floor, Angabalavari Street, Islampet, Vijayawada – 520 001, Andhra Pradesh v 6-2-12 (A), Nyapathi Street, T. Nagar, Innespeta, Rajamundry – 533 101, Andhra Pradesh v Door No. 32-2-17, Bowdara Road, Near Sir Satya Lodge, Visakhapatnam – 530 004, Andhra Pradesh v 126, Broadway, 1st Floor, P. O. Box No. 7814, Chennai – 600 108, Tamilnadu v No. 40, North Avani Moola Street, P. O. Box No. 106, Madurai – 625 001, Tamilnadu v P. O. Box No. 646, Door No. 53, Pulikuthi Main Road, Gugai, Salem – 636 006, Tamilnadu v No. 39, Keela Chatram Road, Tennur, Trichy – 620 017, Tamilnadu v No. 10, Head Post Office Road, Coimbatore – 641 101 |
DIRECTORS
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Name : |
Mr. Kothandaraman Subramanian |
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Designation : |
Director |
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Address : |
Flat No. 310, H. No. 8-2-547/1, Aparna Chandra Deep, Road No. 7, Banjara
Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Tel No.: |
91-40-32992661 |
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E-mail.: |
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Date of Birth/Age : |
22.09.1947 |
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Date of Appointment : |
31.12.2004 |
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Name : |
Mr. Bhupendra Kumar Pandey |
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Designation : |
Director |
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Address : |
289 A, Sector – B, Shah Pura, Bhopal – 462016, Madhya Pradesh, India |
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Date of Birth/Age : |
01.07.1944 |
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Date of Appointment : |
31.12.2004 |
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Resignation Date : |
15.09.2007 |
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Name : |
Mrs. Suman Bagla |
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Designation : |
Director |
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Address : |
Plot No. 244 A, MLA- Colony, Road No.12, Banjara Hills, Hyderabad –
500037, Andhra Pradesh, India |
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Date of Birth/Age : |
28.08.1961 |
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Date of Appointment : |
31.12.2004 |
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Name : |
Mr. Vinod Sahney |
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Designation : |
Director |
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Address : |
Plot No. 624, Road No. 35, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
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Date of Birth/Age : |
22.08.1943 |
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Date of Appointment : |
31.12.2004 |
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Name : |
Mrs. Anupama Sureka |
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Designation : |
Managing Director |
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Address : |
3/1, Dr. U N Bramhachari Street, Kolkata – 700017, West Bengal, India |
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E-mail : |
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Date of Birth/Age : |
05.12.1956 |
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Date of Appointment : |
21.01.2005 |
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Name : |
Mr. Arun Kumar Sureka |
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Designation : |
Director |
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Address : |
3/1, Dr. U N Bramhachari Street, Kolkata – 700017, West Bengal, India |
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Date of Birth/Age : |
11.06.1949 |
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Date of Appointment : |
31.03.1966 |
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Name : |
Mr. Bhishwambhar Dayal Sureka |
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Designation : |
Director |
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Address : |
3/1, Dr. U N Bramhachari Street, Kolkata – 700017, West Bengal, India |
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Date of Birth/Age : |
18.11.1929 |
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Date of Appointment : |
21.07.1972 |
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Name : |
Mr. Pratik Sureka |
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Designation : |
Director |
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Name : |
Mr. Varun Sureka |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. N. Mohana Sundaram |
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Designation : |
AGM (Exports) |
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Mobile No.: |
91-9948075339 |
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E-mail : |
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Name : |
Mr. K. Naveen Kumar |
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Designation : |
Assistant Manager (Exports) |
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Mobile No.: |
91-9948075650 |
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E-mail: |
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Name : |
M/s. SGS Company |
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Designation : |
Company Secretary |
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Address : |
308, Krishna Plaza, 3rd Floor, H. No. 6-2-953, Khairatabad,
Hyderabad – 500004, Andhra Pradesh |
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Tel. No. : |
91-40-23324477 |
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Mobile No.: |
91-9848199770 |
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E. Mail.: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
Equity share breakup (Percentage of total equity)
As on 31.03.2007
|
Sr. No. |
Category |
Percentage |
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1 |
Bodies Corporate
(not mentioned above) |
38.00 |
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2 |
Directors or
relatives of directors. |
62.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Cycle Tubes and Tyres. |
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Products : |
v
Heavy
Duty Premium Nylon (Load trolleys, load bicycle and bicycle Taxi front and
rear wheels) v
Heavy
Duty 12 PR Nylon (Load bicycle and bicycle Taxi front and rear tyres) v
2
Ply Premium Nylon (Bicycle Taxies and normal town bike ) v
2
Ply Semi Nylon (Bicycle Taxies and normal town bike ) v
Heavy
Duty Cotton (Load bicycle and bicycle Taxi front and rear wheels) v
Semi
Cotton (Normal Town Biking) v
Cycle
Cotton (Normal Town Biking) v
Mountain
/ All Terrain Bikes (Off the road, country and town Biking) (Children's Bicycles) v
Tube
Packing/Valves |
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Exports : |
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Countries : |
Developing
Countries like: v Kenya v Uganda v Tanzania v Nigeria |
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Imports : |
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Countries : |
v China v Tanzania v Russia |
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Terms : |
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Selling : |
L/C – 50%, D/P – 50% |
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Purchasing : |
L/C, D/P – 50% |
GENERAL
INFORMATION
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Customers : |
v Wholesalers v OEM’s |
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No. of Employees : |
200 |
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Bankers : |
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Facilities : |
Rs. 15000.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Raju and Prasad Chartered Accountants |
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Address : |
401, Diamond House, Adi Amrutha Hills, Panjagutta, Somajiguda Hyderabad – 500 082, Andhra Pradesh, India |
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Tel. No.: |
91-40-23410404 |
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Fax No.: |
91-40-23410403 |
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Memberships : |
v The Federation of Andhra Pradesh Chambers of Commerce and Industry v All India Rubber Industries Association |
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Associates : |
v Hartex Tubes Limited Address: 87, Canal Road, Ramdas Peth, Nagpur, Maharashtra Line of Business : Manufacturer of jointed tubes v Kemrub Limited Address : 186, J. N. Mukherjee Road, Salkia, Howrah, West Bengal Line of Business: Manufacturer of jointed tubes v Hartex Elastomers Address : SVICE, Bollaram, District Medak, Andhra Pradesh Line of Business : Manufacturers of rubber compound |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350,000 |
Equity Shares |
Rs. 100/- each |
Rs. 35.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
341,465 |
Equity Shares |
Rs. 100/-
each |
Rs. 34.146 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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34.146 |
34.146 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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158.312 |
148.698 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
192.458 |
182.844 |
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LOAN FUNDS |
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1] Secured Loans |
|
119.690 |
88.425 |
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2] Unsecured Loans |
|
37.210 |
60.549 |
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TOTAL BORROWING |
|
156.900 |
148.974 |
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DEFERRED TAX LIABILITIES |
|
9.313 |
13.994 |
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TOTAL |
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358.671 |
345.812 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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96.085 |
105.520 |
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Capital work-in-progress |
|
4.764 |
2.276 |
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INVESTMENT |
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0.005 |
0.005 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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105.140 |
102.758 |
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Sundry Debtors |
|
236.680 |
206.078 |
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Cash & Bank Balances |
|
40.754 |
31.547 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
60.279 |
46.638 |
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Total
Current Assets |
|
442.853 |
387.021 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
185.036 |
149.010 |
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Provisions |
|
0.000 |
0.000 |
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Total
Current Liabilities |
|
185.036 |
149.010 |
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Net Current Assets |
|
257.817 |
238.011 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
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358.671 |
345.812 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
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Sales Turnover |
|
1250.301 |
974.806 |
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Other Income |
|
5.713 |
6.042 |
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Total Income |
|
1256.014 |
980.848 |
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Profit/(Loss) Before Tax |
|
25.940 |
5.032 |
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Provision for Taxation |
|
13.731 |
(6.296) |
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Profit/(Loss) After Tax |
|
12.209 |
11.328 |
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Earnings in Foreign Currency : |
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Export Earnings |
|
438.476 |
273.036 |
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Total Earnings |
|
438.476 |
273.036 |
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Total Imports |
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Expenditures : |
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Financial Charges |
|
18.074 |
11.659 |
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Depreciation & Amortization |
|
24.484 |
26.313 |
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Other Expenditure |
|
1187.516 |
937.844 |
|
Total Expenditure |
|
1230.074 |
975.816 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
0.97 |
1.15 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
2.07 |
0.51 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.81 |
1.02 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.13 |
0.02 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
0.96 |
0.81 |
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Current Ratio (Current Asset/Current Liability) |
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|
2.39 |
2.60 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U25199AP1961PTC043629 |
|
Name of the
company |
HARTEX RUBBER PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
No. 6-3-865, Madhupala Towers, Ameerpet, Hyderabad – 500 016, Andhra
Pradesh, India |
|
Type of charge |
v
Hypothecation v
Equitable
mortgage or mortgage of property by depositing the title deeds |
|
Particular of
charge holder |
Name : Bank of
India Address :
Secunderabad Branch, M G Road, P B No. 1549 City :
Secunderabad State : Andhra
Pradesh Country : India Pin code: 500003 e-mail ID : hyd2_boisec@sancharnet.in |
|
Nature of
description of the instrument creating or modifying the charge |
1. Hypothecation Cum Loan Agreement (Plant and Machinery, Stocks and
Book Debts) 2. Original Assent, Mortgage of title deeds 3. Omnibus Indemnity for L/C 4. General Counter Guarantee |
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Date of
instrument Creating the charge |
10.05.2006 |
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Amount secured by
the charge |
Rs. 180.000 millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
On Cash Credit
hypothecation of stock, book debts and term loan Int @ 1.25% Below BPLR Min
10% p.a. with monthly resets, on DCSL/FCL Int @ 350 BPS Over 6 months Libor
min 8.08% p.a. on L/C and B/G usance charges/ commission as per bank rates
term loan is repayable in 36 monthly instalments of Rs. 0.834 million each
commencing from the month subsequent to the month of initial disbursement. |
|
Description of
property charged |
v
Immovable
properties v
Plant and
Machinery v
Furniture
and Fixtures v
Stock in
trade v
Book Debts v
Vehicles |
|
Short particulars
of the property charged |
1. Plot No. 106,
SY No. 172 B and 172 C ADM 6.85 acres at Sri Venkateshwara Co- Op. Industrial
Estate, IDA Bollaram, Taluk Narsapur, Medak Dist Andhra Pradesh, India 2. Plot No. 42
(Part) SY No. 334 ADM 16 Guntas at Bachipally Village, Qutbullapur Village /
Mandal, R R Dist, Andhra Pradesh, India |
History
Subject is a Blueprint of excellence that has unfolded across time. Shri Bishwambhar Dayal Sureka, son of Late Purshottamdas Sureka entered family business of trading in Cotton and Hardware fabrication. In 1981 he switched over to manufacture of Industrial Rubber Products and finally to the manufacture of Bicycle Tubes branded "Hartex" in the SSI Unit at Howrah (West Bengal) in the name of Kemrub Private Limited. Today this factory produces top quality Bicycle Tubes and has built up an impeccable reputation for unmatched workmanship.
subject was set up in 1987 in Andhra Pradesh near
Hyderabad with a production capacity of 2.4 Million Bicycle Tyres and 0.6
Million molded Tubes per annum. This unit commenced commercial production in
record time and its product carrying Hartex
brand name was established in the market for superior quality and reliability.
The production has since increased substantially and in 2006-07 has reached 13
Million Bicycle Tyres, 10 Million Bicycle Molded Tubes and 11 Million Bicycle Jointed
Tubes with an estimated turnover of about US $ 35 million.
This remarkable growth has been possible due to the excellent teamwork and
total involvement of the promoters, namely Shri B. D. Sureka, Late Shri B. K.
Bagla and Shri Arun Kumar Sureka.
HRPL was conceived as a company dedicated to the highest
standards of quality and productivity, which it is determined to achieve and
maintain.
Profile
This unit commenced commercial production in a record time and its product carrying HARTEX Brand got established in the international market for superior quality and reliability. The production has since increased substantially and in 2003-04 has reached 12 million Bicycle Tyres and 8 Million Bicycle Molded Tubes. Hartex has also commenced production of Nylon Tyres and Butyl Tubes in various sizes and patterns, since 1995. Currently the Capacity for Nylon Tyres is 5 Million and for Butyl Tubes is 3 Million per annum.
"The Laboratory at Hartex, is fully equipped with all varieties of Testing Machines for Raw materials and finished Products, operated by well qualified Technical personnel".
All Manufacturing Unit of Hartex are certified on standard of ISO 9001:2000
The Trade Mark No. is 277216 since DEC’ 1971 in India.
News
Medak Rubber Pvt Ltd., a subsidiary of the Hartex Group and principal manufacturer of molded tubes has been recertified for ISO 9001:2000 standards in 2003
Hartex Rubber Pvt. Ltd., principal manufacturer of tyres and
tubes has received ISO 9001
certification in May 2002.
Hartex Tubes Pvt Ltd has been
certified for ISO
9001:2000 standards in 2004
Exports
Hartex Manufactures a wide range of tyres and tubes to suite
different applications such as MTB and ATB. They have been successful in
achieving a steady growth year after year. Out of the total turnover of over
Rs. 1000 million, nearly 20% accounts from exports to various countries. Hartex
has a wide network of over 10,000 dealers in the domestic market.
Presently, the
exports are to a large number of buyers in Africa, South America and Far East.
With improved production of nylon tyres and Butyl Tubes Hartex is expanding
into the European and American Markets.
v
Hartex Home
Country
v
Major Exports
v
Minor Exports
The products are fitted as OE in India. They are confident of
achieving a break through from large OE customers overseas. Hartex believes in
offering value for money for their customers by supplying good quality products
at competitive prices ably supported by customer service.
Suppliers
The Hartex Group has three plants in the country.
v
Hyderabad
v
Calcutta
v
Nagpur
They produce
bicycle and cycle-rickshaw tyres and moulded tubes at Hyderabad, and jointed
tubes in the plants at Calcutta and Nagpur.
They have requirements for a range of raw materials. Included is a
partial list. For detailed enquiries, please fill out the enquiry form below.
|
RMA -5 |
Butyl PB |
ISNR |
Reclaim Rubber |
Bead Wire |
Stearic Acid |
|
ISNR -20 |
Cisamer/PBR |
Nylon Yarn |
Rubber Crumb |
Bead Ring |
S P Oil |
|
Neoprene |
SBR |
Cotton Thread |
Valve Tube |
HT Labels |
Parrafin Wax |
|
RSS |
EBC |
Carbon |
Valve Set |
Sulphur |
Zinc Stearate |
|
Zinc Oxide |
Bitumen |
Brown Factice |
Silicone Oil |
Emulsifier |
Jute Twin |
|
Zinc Ash |
Pilflex |
SBP Spirit |
Ind. Glycerine |
Teepol |
Plastic Twin |
|
Toulene |
Pilnox |
Caustic Soda |
Wood Resin |
Solvent AB |
G1 Clip |
|
China Clay |
Whiting |
Urea |
Colouring |
RX 1055 |
Chemlok |
|
Silica PPT |
Tackifier |
Oliec Acid |
French Chalk |
Valve Parts |
Thinner |
|
Titanium Dioxide |
Aluminium Silicate |
Calcium Carbonate |
Micro Crystaline Wax |
Cotton Hand Gloves |
|
|
HDPE Bags |
Laminated Film |
Golden Powder |
Zinclolet |
|
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HDPE Sheets |
Metalised Film |
Husk of Pulses |
|
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Nylon Thread |
Cartons |
Firewood |
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PVC Stickers |
Cotton Sleeves |
Diesel |
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Trade References
v
R I International – India
v
Freedom Fibres – Trichy
Trade Terms
v
A. A. Traders
v Metro Trading Syndicate
v Rannoneyon Bajaj and Company
v
V. T. Thomas and Company
v Nahar Fibres Limited
v Hyundai Carporation
v Shoingong Machinery
v Tata Iron & Steel Company Limited
v Arun Udyog
v Phillips Carbon Black Limited
v Nahar Fibres
v Vardhaman Polytex Limited
Fixed Assets
v Land
v Building (Office and Factory)
v Plant and Machinery
v Moulds
v Furniture and Fixtures
v Office Equipment
v Vehicles
v Computers.
As Per Website
Details
Operations:-
The company’s sales for the year amounted to Rs. 493.400 millions as
compared to Rs. 377.700 millions of the previous year registering a growth of 30.63
%. The company has earned a profit of Rs. 0.190 million from a loss of Rs.
11.048 millions in the previous year.
The company has got Quality Standard ISO 9001:2000 Certificate for
“Manufacturing and Supply of Cycle Tyres including Product Development” on
10.05.2002.
Future Plans:-
The company is continuously increasing its capacity for producing high
value added products by adding balancing equipments and also investing on
modernisation and automation of the process.
The company is in trade terms with :-
Rubber :-
A. A. Traders
Plot No. G-100, Panampilly Nagar, Kochi – 682 036, Kerala
Metro Trading Syndicate
VII/594, Jew Town, R. O. No. 197, Kochi – 682 002, Kerala
Rubber Chemicals
:-
Rannoneyon Bajaj and Company
4-1-1011, P B. No. 164, Bogolkonta, Hyderabad – 500 001, Andhra Pradesh
A. V. T. Thomas and Company
P. O. No. 131, Indusind Estate, Ambattor, Chennai – 600 058, Tamilnadu
Cotton Yarn :-
Nahar Fibres Limited
373, Industrial Area, A, Ludhiana – 141 003, Punjab
Carbon :-
Hyundai Carporation
140-2, KYE-DONG, Chonogo – 100 500, Korea
Nylon :-
Shoingong Machinery
Inpas and Exe, 1, Qutongx10 Road, Almgdao, China – 266 002
The Hartex Group is a Blueprint of excellence that has unfolded across
time. Subject company was set up in 1985 in Andhra Pradesh near Hyderabad,
India with a production capacity of 2.500 millions Bicycle Tyres and 0.500
millions moulded Tubes per annum.
Subject commenced commercial production in a record time and its product carrying the brand name ‘HARTEX’
got established in the International market for its superior quality and
realibility. The production has since increased substantially and in 1997-98
has reached 15 millions Bicycle Tyres and 6 millions Bicycle Tubes. The
turnover has also achieved an impressive Rs. 1000 millions, as an increase of
almost 400% in just 7 years.
The company also commenced production of Nylon Tyres and Butyl Tubes in
various Sizes and Patterns, Since 1995. Currently the capacity for Nylon Tyres
is 5 millions and for Butyl Tubes is 3 millions per annum.
The company’s laboratory is fully equipped with all varieties of Testing
Machines for Raw Materials and finished products, operated by well qualified
Technical Personnel.
The Moulded Tube manufacturing unit at Hyderabad has been awarded ISO
9002 Certificate.
The company’s Cycle Tyres range includes :-
v
Champion WSW (6 PR)
v
Caption (7 PR)
v
Sports (7 PR)
v
Bates (7 PR)
v
Milk Man (7 PR)
v
Titan (7 PR)
v
Safari (8 PRLD)
v
Tarzan (8PR)
v
Superman (8 & 12 PR)
v
Load King (12 PR)
v
Winner (16 PR)
v
Thunder (16 PR)
v
Superpower (18 PR)
v
TT Super (20 PR)
v
Diamond Supreme (20 PR)
v
Jumbo 99 (20 PR)
v
Van 101 (24 PR)
v
Super Shakti (26 PR)
v
Bullet (28 PR)
v
Mountain
v
Concord
v
Hartex City
v
Black Cat ( 8PR)
v
Honda (12 PR)
v
Good Air (8 PR LD)
v
777 (8 PR LD)
v
Panther
v
Mud and Snow
v
Commander
v
Lug
v
Sleek
v
Glider
v
Diamond
v
Gem, Gem WSW
v
Ruby
v
Boda Boda
v
Goldstar
The company’s Cycle Tubes range includes :-
v
Joiny tube
v
Moulded Tube
v
Butyl Tube
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 records 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 :
The 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.
The 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. 43.17 |
|
UK Pound |
1 |
Rs. 86.46 |
|
Euro |
1 |
Rs. 68.68 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
|