1. Summary Information

		Country	India
Company Name	K R RUBBERITE LIMITED	Principal Name 1	Mr. Bhagwan Sahai Sharma
Status	Satisfactory	Principal Name 2	Mr. Kailash Kumar Sharma
		Registration #	55-017693
Street Address	C-98, Flats N 6, 8-Southern Avenue, Maharani Bagh, New Delhi-110065, Delhi, India.
Established Date	14.03.1984	SIC Code	--
Telephone#	-	Business Style 1	Supplier
Fax #	-	Business Style 2	--
Homepage	-	Product Name 1	M.V. Parts
# of employees	-	Product Name 2	Horn Parts
Paid up capital	Rs. 16,500,000/-	Product Name 3	Tool Kit
Shareholders	Bodies corporate - 11.00% Directors or relatives of directors - 59.00% Other - 30.00%	Banking	State Bank of Patiala
Public Limited Corp.	Yes	Business Period	27 Years
IPO	Yes	International Ins.	-
Public Enterprise	Yes	Rating	Ba (46)
Related Company
Relation	Country	Company Name
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	98,131,000	Current Liabilities	91,580,000
Inventories	61,223,000	Long-term Liabilities	167,582,000
Fixed Assets	168,874,000	Other Liabilities	18,679,000
Deferred Assets	0	Total Liabilities	277,841,000
Invest& other Assets	8,722,000	Retained Earnings	42,609,000
		Net Worth	59,109,000
Total Assets	336,950,000	Total Liab. & Equity	336,950,000
Total Assets (Previous Year)	255,748,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	612,750,000	Net Profit	7,995,000
Sales(Previous yr)	496,357,000	Net Profit(Prev.yr)	6,486,000

MIRA INFORM REPORT

Report Date :

19.04.2011

IDENTIFICATION DETAILS

Name :	K R RUBBERITE LIMITED
Formerly Known As :	K R RUBBERITE PRIVATE LIMITED
Registered Office :	C-98, Flats N 6, 8-Southern Avenue, Maharani Bagh, New Delhi-110065, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	14.03.1984
Com. Reg. No.:	55-017693
CIN No.: [Company Identification No.]	L25199DL1984PLC017693
TAN No.: [Tax Deduction & Collection Account No.]	DELK05260D DELK06468A DELK05616C
PAN No.: [Permanent Account No.]	AAACK0272F
Legal Form :	A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange
Line of Business :	Supplier of Rubber and Rubber Products.

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 200000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	C-98, Flats N 6, 8-Southern Avenue, Maharani Bagh, New Delhi-110065, Delhi, India.
E-Mail :	gs_fbd@yahoo.com
Factory 1:	Plot No. 37D, Sector - 6, Faridabad – 121006, Haryana, India
Area :	4088.88 sq. Yards
Factory 2:	Plot No. 36, Sector - 6, Faridabad – 121006, Haryana, India
Area :	11406.67 sq. Yards

DIRECTORS

As On 31.08.2010

Name :	Mr. Bhagwan Sahai Sharma
Designation :	Director
Address :	House No. 716, Sector 7C, Faridabad-121006, Haryana, India
Date of Birth/Age :	18.12.1950
Date of Appointment :	01.01.2002
DIN No.:	00360547
Name :	Mr. Kailash Kumar Sharma
Designation :	Director
Address :	House No. 717, Sector 7C, Faridabad-121006, Haryana, India
Date of Birth/Age :	10.06.1954
Date of Appointment :	01.01.2002
DIN No.:	00360965
Name :	Mr. Ghan Shyam Sharma
Designation :	Director
Address :	House No. 715, Sector 7C, Faridabad-121006, Haryana, India
Date of Birth/Age :	14.03.1962
Date of Appointment :	01.01.2002
DIN No.:	00360339
Name :	Mr. Kanhaiya Lal Sharma
Designation :	Director
Address :	House No. 712, Sector 7C, Faridabad-121006, Haryana, India
Date of Birth/Age :	09.06.1956
Date of Appointment :	02.12.2002
DIN No.:	00360497
Name :	Mr. Sanyog Sharma
Designation :	Director
Address :	House No. 716, Sector 7C, Faridabad-121006, Haryana, India
Date of Birth/Age :	17.02.1975
Date of Appointment :	02.12.2007
DIN No.:	00360909
Name :	Mr. Rakesh Rameshwar Prasad Sharma
Designation :	Whole Time Director
Address :	House No. 703, Sector 7C, Faridabad-121006, Haryana, India
Date of Birth/Age :	10.07.1970
Date of Appointment :	01.04.2010
DIN No.:	02899340
Name :	Mr. Abhishek Kanhaiya Lal Sharma
Designation :	Whole Time Director
Address :	House No. 712, Sector 7C, Faridabad-121006, Haryana, India
Date of Birth/Age :	20.06.1983
Date of Appointment :	01.04.2010
DIN No.:	02899979

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As On 31.08.2010

Names of Shareholders	No. of Shares
Bhagwan Sahai Sharma	121200
Kailash Kumar Sharma	20600
Kanhaiya Lal Sharma	25800
Ghan Shyam Sharma	42150
R.K. Sharma Gaur (HUF)	12250
K.L. Sharma (HUF)	68900
Murli Devi Sharma	49350
K.K. Sharma (HUF)	86800
Rekha Sharma	44450
Sanyog Sharma	62700
Vinod Sharma	22600
Kalpana Sharma	46200
Vinay Sharma	42500
Kanika Sharma	23650
Abhishek Sharma	20250
Bhawa Sharma	27000
R. P Sharma (HUF)	20200
Sharma Pushpa	32200
Sharma Kumar Devendra	38800
Sharma Sunita	56400

As On 31.08.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	11.00
Directors or relatives of directors	59.00
Other	30.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Supplier of Rubber and Rubber Products.

Products :

Production Description	Item code
M.V. Parts	87089900
Horn Parts	85123090
Tool Kit	82060010

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Auto Parts	Nos	17500TPA	24509271
Auto Parts	Kgs	--	39862

GENERAL INFORMATION

Bankers :

• State Bank of Patiala, B-1/11, Sector-11, Main Branch, Faridabad-121006, Haryana, India.
• ICICI Bank

Facilities :

Secured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
Working Capital Loan
Cash credit form banks (working capital loans from SBOP, secured against hypothecation of stocks of inventory, debtors (1^st charge) collateral security of land and building of the company and personal guarantee of directors )	32.720	19.781
Term Loan (loan form State Bank of Patiala, secured against 1^st charge of plant and machinery, land and building of the company and against hypothecation of stocks, debtors and personal guarantee of directors. )	17.375	30.124
Car Loan (with ICICI Bank and Maruti Udyog Limited, secured against cars)	0.632	0.886
Total	50.727	50.791

Unsecured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
A) Loans from Directors
B.S. Sharma	10.235	11.052
G. S. Sharma	1.586	2.611
K. K. Sharma	0.000	0.531
K. L. Sharma	0.000	0.320
Sanyog Sharma	2.174	2.798
B) Corporate Loan:
a) Anode Exim Private Limited	102.860	65.260
Total	116.855	82.572

Banking Relations :	--
Auditors :
Name :	Anil Dinesh and Associates Chartered Accountant
Address :	308, Shakti Chambers, 1378/21, Naiwala, Karol Bagh, New Delhi-110005, Delhi, India.
Tel No.:	91-11-28754933
Pan No.:	AAGPG5125J

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1650000	Equity Shares	Rs.10/- each	Rs.16.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		16.500	16.500	16.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		42.609	34.613	28.127
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		59.109	51.113	44.627
LOAN FUNDS
1] Secured Loans		50.727	50.791	71.949
2] Unsecured Loans		116.855	82.572	8.485
TOTAL BORROWING		167.582	133.363	80.434
DEFERRED TAX LIABILITIES		18.679	15.194	13.158
TOTAL		245.370	199.670	138.219
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		168.874	131.682	125.291
Capital work-in-progress		4.728	0.000	0.000
INVESTMENT		3.900	3.900	3.900
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	61.223	37.040	22.886
	Sundry Debtors	56.610	56.642	19.988
	Cash & Bank Balances	3.089	6.083	14.396
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	38.432	20.214	27.151
Total Current Assets		159.354	119.979	84.421
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	67.607	36.300	64.999
	Other Current Liabilities	21.613	18.617	9.696
	Provisions	2.360	1.161	0.979
Total Current Liabilities		91.580	56.078	75.674
Net Current Assets		67.774	63.901	8.747
MISCELLANEOUS EXPENSES		0.094	0.187	0.281
TOTAL		245.370	199.670	138.219

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income
		Other Income
		TOTAL (A)	612.750	496.357	391.902
Less	EXPENSES
		Manufacturing and other expenses	576.280	468.207	368.402
		Preliminary expenses written off	0.094	0.094	0.094
		TOTAL (B)	576.374	468.301	368.496
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		36.376	28.056	23.406
Less	FINANCIAL EXPENSES/ INTEREST (D)		13.477	10.398	8.374
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		22.899	17.658	15.032
Less/ Add	DEPRECIATION/ AMORTISATION (F)		9.071	7.960	6.962
	PROFIT BEFORE TAX (E-F) (G)		13.828	9.698	8.070
Less	TAX (H)		5.833	3.212	3.883
	PROFIT AFTER TAX (G-H) (I)		7.995	6.486	4.187
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		31.962	25.476	21.288
	BALANCE CARRIED TO THE B/S		39.957	31.962	25.476
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	10.302	11.884	4.962
		Other Income	0.000	0.000	0.565
	TOTAL EARNINGS		10.302	11.884	5.527
	IMPORTS
		Raw Materials	11.491	34.009	29.338
		Capital Goods	3.171	0.000	5.279
	TOTAL IMPORTS		14.662	34.009	34.617
	Earnings Per Share (Rs.)		4.85	3.93	2.54

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.30	1.31	1.07
Return on Total Assets (PBT/Total Assets}	(%)	4.21	3.85	3.85
Return on Investment (ROI) (PBT/Networth)		0.23	0.19	0.19
Debt Equity Ratio (Total Liability/Networth)		4.38	3.70	3.50
Current Ratio (Current Asset/Current Liability)		1.74	2.14	1.11

LOCAL AGENCY FURTHER INFORMATION

Form 8:

Corporate identity number of the company	L25199DL1984PLC017693
Name of the company	K R RUBBERITE LIMITED
Address of the registered office or of the principal place of business in India of the company	C-98, Flats N 6, 8-Southern Avenue, Maharani Bagh, New Delhi-110065, Delhi, India.
This form is for	Modification of charge
Type of charge	Immovable Property Book Debts Movable Property (not being pledge) Hyp. Charge on plant and machinery and current assets
Particular of charge holder	State Bank of Patiala, B-1/11, Sector-11, Main Branch, Faridabad-121006, Haryana, India. E-mail : b5106@sbp.co.in
Nature of description of the instrument creating or modifying the charge	1. Letter regarding the grant of individual limits within the overall limit dt.04.02.2011 2. Supplementary agreement of hypothecation of goods and assets dt.04.02.2011 3. Supplementary agreement of loan for increase in overall limit dt.04.02.2011 4. Deed of term loan dt 04.02.2011.
Date of instrument Creating the charge	04.02.2011
Amount secured by the charge	Rs. 180.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest – 1. On cash credit presently 12% p.a. 2. 3% above bank base rate on term loan of Rs. 25.000 millions presently 11.50% p.a. 3. 3.50% above bank base rate on term loan of Rs. 75.000 millions presently 12% p.a. Terms of Repayment – 1. Working Capital Limits on Demand 2. Term Loan of Rs. 25.000 Million - Repayable In 66 Monthly Installments 65 Monthly Installments Of Rs. 0.379 Million Each Commenting From 31.10.2007 And 66th Installment of Rs. 0.365 Million Payable on 31.03.2013. 3. Fresh Term Loan of Rs. 75.000 Million - Repayable In 56 Monthly Installments of Rs. 1.316 Million Commencing From 30.04.2011 and Last 57th Installment of Rs. 1.304 Million Payable on 31.12.2015. Margin – 1. Raw-Material - 25% 2. Stock-In-Process - 25% 3. Finished Goods - 25% 4. Book-Debts - 25% 5. FLC - 15% Extent and Operation of the charge – Exclusive first charge. Others – first charge on plant and machinery purchased against term loans and hypothecation charge on raw-material, work-in-process, finished goods, stores and spares and sundry debtors of the company.
Short particulars of the property charged	I) Plot No. 37D, Sector - 6, Faridabad measuring 4088.88 sq. Yards and building constructed thereon. II) Plot No. 36, Sector - 6, Faridabad measuring 11406.67 sq. Yards and building constructed thereon.
Date of latest modification prior to the present modification	30.03.2010
Particulars of the present modification	The Company Created Modified Charge For Working Capital and Term Loan of Rs. 57.500 Million on 30.03.2010. Now The Charge Has Been Modified From Rs. 57.500 Million to Rs. 180.000 Million with the Enhancement In CC Limit From Rs. 32.500 Million to Rs. 80.000 Million and Sanction of Fresh Term of Rs. 75.000 Million. Note: Term Loan of Rs. 30.000 Million Dated 31.10.2005 Has Already Been Registered on 07.11.2005 Separately Vide Charge Id No. 80020436

Fixed Assets:

• Land
• Building
• Plant and Machinery
• Machinery
• Tools and Dies
• Generator
• Electric Fittings
• Factory Exhaust and Fans
• Furniture and Fixtures
• Photostat Machine
• Motor Car
• Zigs and Fixture
• Computer and Printers
• Scooter and M. Cycle
• Air Conditioners
• Cycle
• Office Equipments
• EPABX and Telephone
• Motor Truck
• Weighing Scale
• Fire Extinguishers
• Testing Equipments

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 :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.52
UK Pound	1	Rs.72.72
Euro	1	Rs.64.41

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.