MIRA INFORM REPORT

Report Date :

01.12.2011

IDENTIFICATION DETAILS

Name :	SHIVOM RUBBER PRODUCTS PRIVATE LIMITED
Registered Office :	Bikaner Road, P. O. Nokha, Bikaner – 334803, Rajasthan
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	30.05.1988
Com. Reg. No.:	17-004470
Capital Investment / Paid-up Capital :	Rs.0.850 Millions
CIN No.: [Company Identification No.]	U25191RJ1988PTC004470
TAN No.: [Tax Deduction & Collection Account No.]	JDHS02086A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Supplier of Air Hose, Gardening Water Hose, Agriculture Power Spray Hose, Car Washing Hose, Welding Hose, etc.
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 9000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. Ramesh (Brother of Director)
Designation :	Key Executive
Contact No.:	91-1531-220313
Date :	29.11.2011

LOCATIONS

Registered Office :	Bikaner Road, P. O. Nokha – 334803, Rajasthan, India
Tel. No.:	91-1531-220313
Mobile No.:	91-9414147480 (Mr. Lalit)
Fax No.:	91-1531-221480
E-Mail :	shivamflex@rediff.com dk_soni2k@rediffmail.com reena.bala@rediffmail.com bgdaiya@gmail.com
Website :	www.shivamflexo.com
Area :	500 Sq. ft
Location :	Owned
Factory :	Bikaner Road, P. O. Nokha – 334803, Rajasthan, India
Area :	5000 Sq. meter
Location :	Owned
Administration Office :	306, Royal World, Opposite City Center, S. C. Road, Jaipur – 334803, Rajasthan, India

DIRECTORS

As on 02.09.2011

Name :

Ms. Sita Ram Maheshwari

Designation :

Director

Address :

Bikaner Road, Nokha, Bikaner – 334803, Rajasthan, India

Date of Birth/Age :

07.07.1953

Date of Appointment :

30.05.1988

DIN No.:

01461298

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U25191RJ1988PTC004470	Shivom Rubber Products Private Limited	Director	30/05/1988	30/05/1988	-	Active	NO
U45201RJ2010PTC031389	Maheshwari Contractors Private Limited	Director	31/03/2010	31/03/2010	-	Active	NO

Name :

Mr. Shyam Sunder Maheshwari

Designation :

Director

Address :

Bikaner Road, Nokha, Bikaner – 334803, Rajasthan, India

Date of Appointment :

30.05.1988

DIN No.:

01470438

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U25191RJ1988PTC004470	Shivom Rubber Products Private Limited	Director	30/05/1988	30/05/1988	-	Active	NO
U45201RJ2010PTC031389	Maheshwari Contractors Private Limited	Director	31/03/2010	31/03/2010	-	Active	NO

Name :

Mr. Lalit Maheshwari

Designation :

Director

Address :

Bikaner Road, Nokha, Bikaner – 334803, Rajasthan, India

Date of Birth/Age :

27.08.1968

Date of Appointment :

30.05.1988

DIN No.:

01461317

KEY EXECUTIVES

Name :	Mr. Ramesh
Designation :	Key Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 02.09.2011

Names of Shareholders	No. of Shares
Shyam Sunder Maheshwari	1760
Sita Ram Maheshwari	1770
Lalit Maheshwari	1210
Devi Kashi Maheshwari	80
Prakash Om Chitlangia	100
Lal Manik Chitlangia	100
Prasad Narayan Maheshwari	100
Ratan Shiv Chitlangia	200
Das Narsingh Maheshwari	1080
Narayan Jai Heda	1000
Pawan Kumar Maheshwari 500	500
Devi Sarita Maheshwari	500
Lal Mangi Bihani	100
Total	8500

Equity Share Break up (Percentage of Total Equity)

As on 02.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Supplier of Air Hose, Gardening Water Hose, Agriculture Power Spray Hose, Car Washing Hose, Welding Hose, etc.
Terms :
Selling :	Cash (Depend 15 days)
Purchasing :	Cash (Depend 15 days)

PRODUCTION STATUS AS ON 31.03.2010

Particulars	Unit	Actual Production
Pulses	Tonnes	1060.010
PVC Hauz Pipes	Mtrs.	392322.000

GENERAL INFORMATION

Suppliers :

Victor Corporation

Customers :

Wholesalers

Retailers

No. of Employees :

10 (Approximately)

Bankers :

· Oriental Bank of Commerce, Jaipur, Rajasthan, India

· Bikaner Kshetriya Gramin Bank, Nokha, Bikaner, Rajasthan, India

· Oriental Bank of Commerce, NH 89 Pimpali Road, Bikaner Road, Bikaner – 334803, Rajasthan, India

Facilities :

Cash Credit – Rs.10.000 Millions

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
O.B.C. CC	3.828	4.162
O.B.C Term Loan	1.213	1.449
O.B.C. CC	7.794	7.455
OBC Car Loan (Innova)	0.368	0.544
Total	13.203	13.610
Notes : 1. The Term Loan Limit From OBC, Nokha is secured by equitable mortgage by deposit of title property situated at Khasara No. 3 18/319 Village Bikasar, Tehsil Nokha and all plant and machinery (whether existing or future) in the name of the company and its unit, and personal guarantee of directors 2. The Cash Credit Limit From OBC is secured by hypothecation of all raw materials, work in progress and finished goods in the name of Balaji Dall Mill, a unit of the company and the company progress and personal guarantee of directors.
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Directors
Sita Ram Maheshwari	2.729	3.536
Shyam Sunder Maheshwari	3.634	2.422
Lalit Maheshwari	4.630	3.614
From Shareholders	1.845	1.079
Kashi Devi Maheshwari	0.280	0.253
Narayan Prasad Maheshwari	1.123	0.437
Ratanlal Maheshwari HUF
Total	14.241	11.341

Banking Relations :	--
Auditors :
Name :	Daiya Tiwari and Soni Chartered Accountants
Address :	Rani Bazar, Bikaner – 334001, Rajasthan, India
PAN.:	AABFD3664J
Sister Concerns :	Balaji Dall Mill

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
15000	Equity Shares	Rs.100/- each	Rs.1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8500	Equity Shares	Rs.100/- each	Rs.0.8500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.850	0.850	0.850
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.538	1.220	1.479
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.388	2.070	2.329
LOAN FUNDS
1] Secured Loans		13.203	13.610	11.456
2] Unsecured Loans		14.241	11.341	5.435
TOTAL BORROWING		27.444	24.951	16.891
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		29.832	27.021	19.220
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.612	7.087	3.090
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	21.110	22.262	12.292
	Sundry Debtors	6.374	2.337	4.021
	Cash & Bank Balances	0.203	0.391	0.098
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.703	0.591	2.096
Total Current Assets		28.390	25.581	18.507
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.867	5.438	2.066
	Other Current Liabilities	0.199	0.093	0.141
	Provisions	0.104	0.116	0.170
Total Current Liabilities		6.170	5.647	2.377
Net Current Assets		22.220	19.934	16.130
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		29.832	27.021	19.220

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	73.517	53.678	56.818
		Other Income
		TOTAL (A)	73.517	53.678	56.818
Less	EXPENSES
		Office Expenses	69.127	51.032	53.533
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	69.127	51.032	53.533
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.390	2.646	3.285
Less	FINANCIAL EXPENSES (D)		2.778	2.177	2.575
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.612	0.469	0.710
Less/ Add