MIRA INFORM REPORT

Report Date :

01.07.2011

IDENTIFICATION DETAILS

Name :	UNIQUE AUTORUBBER UDYOG PRIVATE LIMITED [w.e.f. 06.05.2008]
Formerly Known As :	UNIQUE AUTORUBBER AND FILTER PARTS PRIVATE LIMITED
Registered Office :	E – 985, 100 Feet Road, Shahdara, Delhi – 110032
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	12.08.2005
Com. Reg. No.:	55-139634
Capital Investment / Paid-up Capital :	Rs.2.853 Millions
CIN No.: [Company Identification No.]	U34300DL2005PTC139634
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Rubber Parts.
No. of Employees :	250 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B [33]

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

Maximum Credit Limit :	USD 54000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is a successor of Unique Autorubber Udyog, a proprietory concern started in the year 1992. It is an established company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
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. Devender Bisria
Designation :	Export Manager
Contact No.:	91-9212551488
Date :	21.06.2011

LOCATIONS

Registered Office :	E – 985, 100 Feet Road, Shahdara, Delhi – 110032, India
Mobile No.:	91-9212551488 [Mr. Devender]
E-Mail :	Tarunakalra@srsparivar.com
Location :	Owned
Factory :	Plot no.18, Sector 25, Faridabad – 121004, Haryana, India
Tel. No.:	91-129-4060624 / 4060625 / 4060626
Fax No.:	91-129-4060628

DIRECTORS

As on 09.08.2010

Name :	Mr. Ravinder Garg
Designation :	Director
Address :	Plot No.117, Sector – 9, Faridabad – 121001, Haryana, India
Date of Birth/Age :	08.07.1960
Date of Appointment :	12.08.2005
DIN :	00354608
Name :	Mr. Shalender Garg
Designation :	Director
Address :	House No. 529, Sector – 14, Faridabad – 121001, Haryana, India
Date of Birth/Age :	05.08.1961
Date of Appointment :	12.08.2005
DIN :	00066103

KEY EXECUTIVES

Name :	Mr. Devendra Mishra
Designation :	Export Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 09.08.2010

Names of Shareholders	No. of Shares
Ravinder Garg	110150
Shalender Garg	93900
S.K. Garg [HUF]	5000
Gayatri Garg	38100
Sangeeta Garg	38100
Total	285250

As on 09.08.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Rubber Parts.
Products :	Air Filter Rubber Parts Oil Filter Rubber Parts Fuel Filter Rubber Parts Industrial Rubber Parts - Grommets - Gaskets - Check Valves - O-Rings - Oil Seals - Washers - Sealing Rings Electrical Rubber Parts Metal to Bonded Parts (used in Automobile Filters), etc.
Exports :
Products :	Rubber Parts
Countries :	Korea Europe Africa Italy USA
Terms :
Selling :	--
Purchasing :	Depend

GENERAL INFORMATION

Customers :

Others – Medical Industries

No. of Employees :

250 [Approximately]

Bankers :

Oriental Bank of Commerce, Mohna Road, Ballabgarh, Faridabad – 121003, Haryana, India

Facilities :

Secured Loan [Rs. in million]	31.03.2010	31.03.2009
OBC Bank [secured against hypothecation of machinery, stock etc.]	24.548	0.000
HDFC Bank [Secured against Hypothecation of Car]	0.909	0.000
Kotak Mahindra Prime Limited (Secured against Hypothecation of Car)	0.580	0.000
OBC Term Loan 1 (Secured Against Hypothecation of Genset)	1.114	0.000
Total	27.151	0.000
Unsecured Loan [Rs. in million]	31.03.2010	31.03.2009
Kishan Chand	0.554	0.000
Naresh Goyal	0.277	0.000
R.K. Garg [HUF]	2.421	0.000
Total	3.252	0.000

Banking Relations :	--
Auditors :
Name :	Khem Shiv and Associates Chartered Accountant
Address :	103/ Adarsh Nagar, Ballabgarh – 121004, Faridabad, Haryana, India

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/-each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
285,250	Equity Shares	Rs.10/-each	Rs.2.853 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		2.853	0.100	0.100
2] Share Application Money		1.250	0.144	0.000
3] Reserves & Surplus		9.497	0.003	0.002
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		13.600	0.247	0.102
LOAN FUNDS
1] Secured Loans		27.151	0.000	0.000
2] Unsecured Loans		3.252	0.000	0.000
TOTAL BORROWING		30.403	0.000	0.000
DEFERRED TAX LIABILITIES		0.153	0.000	0.000
TOTAL		44.156	0.247	0.102
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		13.986	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.282	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.436	0.000	0.000
	Sundry Debtors	48.973	0.000	0.000
	Cash & Bank Balances	0.443	0.089	0.078
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.947	0.000	0.000
Total Current Assets		64.799	0.089	0.078
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	33.958	0.000	0.000
	Other Current Liabilities	0.663	0.002	0.001
	Provisions	0.413	0.000	0.000
Total Current Liabilities		35.034	0.002	0.001
Net Current Assets		29.765	0.87	0.077
MISCELLANEOUS EXPENSES		0.123	0.160	0.025
TOTAL		44.156	0.247	0.102

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	163.645	0.000	0.000
		Other Income	0.008	0.016	0.012
		TOTAL (A)	163.653	0.016	0.012
Less	EXPENSES
		Cost of Material Consumed	109.842	0.000	0.000
		Direct Expenses	37.600	0.000	0.000
		Personnel Expenses	2.955	0.000	0.000
		Office and Administrative Expenses	3.426	0.000	0.000
		Selling and Distribution Expenses	2.543	0.000	0.000
		Other Expenses	0.347	0.015	0.011
		TOTAL (B)	156.713	0.015	0.011
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.940	0.001	0.001
Less	FINANCIAL EXPENSES (D)		3.107	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.833	0.001	0.001
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.030	0.000	0.000
	PROFIT BEFORE TAX (E-F) (G)		1.803	0.001	0.001
Less	TAX (I)		0.567	0.000	0.000
	PROFIT AFTER TAX (G-I) (J)		1.236	0.001	0.001
	EARNINGS IN FOREIGN CURRENCY		6.434	NA	NA
	Earnings Per Share (Rs.)		4.33	--	--

Particulars	31.03.2011
Sales Turnover [Approximately]	250.000

The above information has been parted by Mr. Devender Bisria [Export Manager]

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.75	6.25	8.33
Net Profit Margin (PBT/Sales)	(%)	1.10	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	2.29	1.12	1.28
Return on Investment (ROI) (PBT/Networth)		0.13	0.00	0.01
Debt Equity Ratio (Total Liability/Networth)		4.81	0.01	0.01
Current Ratio (Current Asset/Current Liability)		1.85	44.50	78.00

LOCAL AGENCY FURTHER INFORMATION

Unique Auto Rubber Udyog [Proprietorship Concern – From 1992]
Particulars	31.03.2009
Sales Turnover [Approximately]	120.000

The above information has been parted by Mr. Devender Bisria [Export Manager]

OPERATING RESULTS

During the year, the company registered total Profit of Rs.1.236 millions

SHARE CAPITAL

During the year, the Paid-up Equity Share capital of the Company increased from Rs. 1.852 millions to Rs. 2.853 millions by allotment of 100,000 Additional Fully paid up Equity shares at premium of Rs. 30/- each on 15th June 2009.

Bankers Charges Report as per Registry

Corporate identity number of the company	U34300DL2005PTC139634
Name of the company	Unique Autorubber Udyog Private Limited
Address of the registered office or of the principal place of business in India of the company	E-985, 100 Ft Road, Shahdara, Delhi – 110032, Delhi, India
This form is for	Creation of Charge
Type of charge	Movable Property
Particular of charge holder	Oriental Bank of Commerce, Mohna Road, Ballabgarh, Faridabad – 121003, Haryana, India
Nature of instrument creating charge	Agreement of Term Loan Dt. 08/10/2010
Date of instrument Creating the charge	08.10.2010
Amount secured by the charge	Rs.0.341 million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - As per Agreement Terms of Repayment - Repayable in 60 Monthly Installments of Rs.0.007 million each and till the loan is adjusted in full. Margin - Margin : 25% Extent and Operation of the charge - Hypothecation Charge on CNG Mini Truck Winner to be purchased with the present term loan.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation Charge on CNG Mini Truck Winner to be purchased with the present term loan.

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.44.72
UK Pound	1	Rs.71.95
Euro	1	Rs.64.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		33

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.