BUSINESS INFORMATION REPORT

1. Summary Information

		Country	India
Company Name	HARTEX RUBBER PRIVATE LIMITED (18.03.2005)	Principal Name 1	Mr. Arun Kumar Sureka
Status	Satisfactory	Principal Name 2	Mr. Bhishwambhar Dayal Sureka
		Registration #	01-43629
Street Address	Kamala Towers, Plot No.1-8-307, Patigadda Road, Begumpet, Hyderabad-500 016, Andhra Pradesh
Established Date	12.01.1961	SIC Code
Telephone#	91-40-23412968/23402438	Business Style 1	Manufacturer of Cycle Tubes and Tyres.
Fax #	91-40-23402762	Business Style 2
Homepage	http://www.hartexrubber.com	Product Name 1	Cycle Tyre
# of employees	200 Approximately	Product Name 2	Cycle Tube
Paid up capital	Rs. 34,146,500	Product Name 3	2 Ply Premium Nylon
Shareholders	Directors or relatives of directors 64.12	Banking	Bank of India
Public Limited Corp.	--	Business Period	50 years
IPO	--	International Ins.	--
Public Enterprise	--	Rating	Ba (51)
Relation	--	Company Name	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	582,298,000	Current Liabilities	327,025,000
Inventories	85,605,000	Long-term Liabilities	24,591,000
Fixed Assets	79,090,000	Other Liabilities	0
Deferred Assets	2,424,000	Total Liabilities	351,616,000
Invest& other Assets	1,505,000	Retained Earnings	365,160,000
	0	Net Worth	399,306,000
Total Assets	750,922,000	Total Liab. & Equity	750,922,000
Total Assets (Previous Year)	916,128,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	1,151,093,000	Net Profit	88,011,000
Sales(Previous yr)	1,484,825,000	Net Profit(Prev.yr)	72,530,000

MIRA INFORM REPORT

Report Date :

22.09.2011

IDENTIFICATION DETAILS

Name :	HARTEX RUBBER PRIVATE LIMITED (18.03.2005)
Formerly Known As :	KEMRUB PRIVATE LIMITED
Registered Office :	Kamala Towers, Plot No.1-8-307, Patigadda Road, Begumpet, Hyderabad-500 016, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	12.01.1961
Com. Reg. No.:	01-43629
Capital Investment / Paid-up Capital :	Rs.34.146 Millions
CIN No.: [Company Identification No.]	U25199AP1961PTC043629
TAN No.: [Tax Deduction & Collection Account No.]	HYDH00112A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Cycle Tubes and Tyres.
No. of Employees :	200 Approximately

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 1597224
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealing 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

INFORMATION DECLINED BY

Name :	Mrs. Suman Bagla
Designation :	Director

LOCATIONS

Registered Office :	Kamala Towers, Plot No.1-8-307, Patigadda Road, Begumpet, Hyderabad-500 016, Andhra Pradesh, India
Tel. No.:	91-40-23412968/23402438
Fax No.:	91-40-23402762
E-Mail :	hrplaaacounts@hartex.in hartex@in-big.net hartex@hd2.vsnl.net.in vp@hartexrubber.com hartex@macinfo.net admin@hartex.in exports@hartex.biz hrpladmin@hartex.in hyd2_boisec@sancharnet.in hartexrubberlimited@yahoo.com
Website :	http://www.hartexrubber.com
Factory :	Plot No. 106, Sri Venkateshwara Co- Op. Industrial Estate, Bollaram, Medak – 500038, Andhra Pradesh, India
Tel. No.:	91- 40 - 32924450, 32924456, 3299811, 32927280, 32927275
Fax No.:	91- 8458- 279545
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, 1^st 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, 1^st 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

AS ON 29.09.2010

Name :	Mr. Arun Kumar Sureka
Designation :	Director
Address :	3/1, Dr. U N Bramhachari Street, Kolkata – 700017, West Bengal, India
Date of Birth/Age :	11.06.1949
Date of Appointment :	31.03.1966
DIN No.:	00055934

S.No.	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
1	U25199AP1961PTC043629	Hartex Rubber Private Limited	Director	31/03/1966	31/03/1966	-	Active	NO
2	U70109WB1978PLC031369	Chitrakoot Properties Limited	Director	06/04/1978	06/04/1978	21/01/2008	Active	NO
3	U67120WB1943PLC011214	The United Investment	Director	10/07/1979	10/07/1979	-	Active	NO
4	U65990MH1974PLC017741	The Gateway Investors Limited	Director	02/09/1979	02/09/1979	05/03/2007	Active	NO
5	U51909AP1983PTC039619	Hartex International Private Limited	Director	09/09/1983	09/09/1983	-	Active	NO
6	U24134AP1987PTC007646	Hartex Polymers Private Limited	Director	28/07/1987	28/07/1987	-	Active	NO
7	U70101WB1989PLC046881	Concrete Developers Limited	Director	15/05/1989	15/05/1989	-	Active	NO
8	U24130MH1989PTC054777	Hartex Tubes Private Limited	Director	27/12/1989	27/12/1989	-	Active	NO
9	U26101UR1974PTC003862	Rock-Cements (India) Private Limited	Director	14/09/1994	14/09/1994	-	Active	NO
10	U74899DL1960PLC217233	Rubber Reclaim Company of India Limited	Director	20/03/1996	20/03/1996	-	Active	NO
11	U70102AP2005PTC045173	Universal Realtors Private Limited	Director	29/09/2005	29/09/2005	-	Active	NO

Name :	Mr. Bhishwambhar Dayal Sureka
Designation :	Director
Address :	3/1, Dr. U N Bramhachari Street, Kolkata – 700017, West Bengal, India
Date of Birth/Age :	18.11.1929
DIN No.:	00049713

S.No.	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
1	U70109WB1964PTC026115	Sadhana Properties Private Limited	Director	22/06/1964	22/06/1964	-	Amalgamated	NO
2	U25199AP1961PTC043629	Hartex Rubber Private Limited	Director	21/07/1972	21/07/1972	-	Active	NO
3	L65993WB1978PLC031327	Park Chambers Limited	Director	27/03/1978	27/03/1978	-	Active	NO
4	U70101WB1985PLC038916	Sureka Estates Limited	Director	09/05/1985	09/05/1985	-	Amalgamated	NO
5	L24110WB1960PLC024910	Kanoria Chemicals and Industries Limited	Director	25/05/1985	25/05/1985	-	Active	NO
6	U70109WB1985PLC039108	Brainwave Applications Limited	Director	06/01/1986	06/01/1986	-	Active	NO
7	U45200AP1986PTC006563	Vishal Developers and Builders Private Limited	Director	26/06/1986	26/06/1986	-	Active	NO
8	U24134AP1987PTC007646	Hartex Polymers Private Limited	Director	28/07/1987	28/07/1987	-	Active	NO
9	U21019WB1995PLC071252	South City Projects (Kolkata) Limited	Director	29/08/2001	29/08/2001	05/05/2009	Active	NO
10	U85110WB1990NPL049713	Park Hospitals	Director	14/09/2001	14/09/2001	-	Active	NO
11	U51909AP1983PTC039619	Hartex International Private Limited	Director	05/06/2003	05/06/2003	-	Active	NO
12	U70101WB2003PLC097238	Bengal Park Chambers Housing Development Limited	Director	12/11/2003	12/11/2003	-	Active	NO
13	U72200WB1993PTC058085	Andromeda Communications Private Limited	Director	22/03/2004	22/03/2004	-	Active	NO
14	U24130MH1989PTC054777	Hartex Tubes Private Limited	Director	30/09/2009	01/04/2009	-	Active	NO

Name :	Mrs. Suman Bagla
Designation :	Director
Address :	Plot No. 244 A, MLA- Colony, Road No.12, Banjara Hills, Hyderabad – 500037, Andhra Pradesh, India
Date of Birth/Age :	28.08.1961
Date of Appointment :	31.12.2004
DIN No.:	00615077

S.No.	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
1	U25199AP1961PTC043629	Hartex Rubber Private Limited	Director	31/12/2004	31/12/2004	-	Active	NO

Name :	Mr. Vinod Sahney
Designation :	Director
Address :	Plot No. 624, Road No. 35, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India
Date of Birth/Age :	22.08.1943
Date of Appointment :	31.12.2004
DIN No.:	00059971

S.No.	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
1	U45200AP1986PTC006563	Vishal Developers and Builders Private Limited	Director	29/05/2003	29/05/2003	-	Active	NO
2	U25199AP1961PTC043629	Hartex Rubber Private Limited	Director	31/12/2004	31/12/2004	-	Active	NO
3	U45200AP2005PTC045432	Vishal Shelters Private Limited	Director	22/02/2005	22/02/2005	-	Active	NO
4	U70102AP2005PTC045173	Universal Realtors Private Limited	Director	29/09/2005	29/09/2005	-	Active	NO
5	L27109WB1962PLC025605	National Standard (India) Limited	Director	13/12/2005	13/12/2005	15/06/2007	Active	NO
6	U21093AP2006PTC051017	Gaurav Vipa Papers Private Limited	Director	29/08/2006	29/08/2006	-	Active	NO
7	U45400AP2008PTC059493	Neervi Properties Private Limited	Director	04/06/2008	04/06/2008	-	Active	NO
8	U24239AP2000PTC035396	Ar Pharmacare Private Limited	Additional director	28/11/2008	28/11/2008	-	Active	NO
9	U51109WB2005PTC106055	Suryavanshi Vyapaar Private Limited	Director	07/04/2010	07/04/2010	-	Active	NO

Name :	Mrs. Anupama Sureka
Designation :	Managing Director
Address :	3/1, Dr. U N Bramhachari Street, Kolkata – 700017, West Bengal, India
E-mail :	asureka@hartex.in
Date of Birth/Age :	05.12.1956
Date of Appointment :	21.01.2005
DIN No.:	00056041

S.No.	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
1	U70101WB1985PLC038916	Sureka Estates Limited	Director	09/05/1985	09/05/1985	-	Amalgamated	NO
2	L65993WB1978PLC031327	Park Chambers Limited	Director	14/04/1994	14/04/1994	-	Active	NO
3	U51909AP1983PTC039619	Hartex International Private Limited	Director	10/04/2002	10/04/2002	-	Active	NO
4	U45200AP1986PTC006563	Vishal Developers and Builders Private Limited	Director	29/05/2003	29/05/2003	-	Active	NO
5	U25199AP1961PTC043629	Hartex Rubber Private Limited	Director	21/01/2005	21/01/2005	-	Active	NO
6	U45200AP2005PTC045432	Vishal Shelters Private Limited	Director	22/12/2005	22/12/2005	-	Active	NO
7	U45400AP2008PTC059493	Neervi Properties Private Limited	Director	25/03/2009	25/03/2009	-	Active	NO

Name :	Mr. Pratik Sureka
Designation :	Director
Address :	3/1, Loudon Street, Kolkatta- 700 017, West Bengal, India
Date of Birth/Age :	05.05.1982
Date of Appointment :	14.02.2008
DIN No.:	01165577

S.No.	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
1	U65993WB1993PTC060229	A P Credit Private Limited	Director	26/12/2000	26/12/2000	-	Active	NO
2	U45200AP2005PTC045432	Vishal Shelters Private Limited	Director	22/12/2005	22/12/2005	-	Active	NO
3	U70109WB1985PLC039108	Brainwave Applications Limited	Director	05/04/2006	05/04/2006	-	Active	NO
4	U51909WB1993PLC058159	Bengal Sureka Realty Limited	Director	29/08/2007	29/08/2007	-	Active	NO
5	U25199AP1961PTC043629	Hartex Rubber Private Limited	Director	14/02/2008	14/02/2008	-	Active	NO
6	U70109WB1976PTC030706	Bengal Park Realty Private Limited	Director	29/12/2008	29/12/2008	-	Active	NO
7	U51909WB2010PTC151684	Park Real Con Private Limited	Additional director	29/04/2011	29/04/2011	-	Active	NO
8	U40108WB2011PTC157479	Abhyudaya Power Private Limited	Additional director	01/09/2011	01/09/2011	-	Active	NO

Name :	Mr. Varun Sureka
Designation :	Director
Address :	3/1, Loudon Street, Kolkatta- 700 017, West Bengal, India
Date of Birth/Age :	13.03.1984
Date of Appointment :	01.03.2008
DIN No.:	01109739

S.No.	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
1	U24130MH1989PTC054777	Hartex Tubes Private Limited	Director	04/09/2006	04/09/2006	-	Active	NO
2	U25199AP1961PTC043629	Hartex Rubber Private Limited	Director	01/03/2008	01/03/2008	-	Active	NO
3	U70102AP2008PTC060810	Oneworld Townships Private Limited	Director	29/08/2008	29/08/2008	-	Active	NO
4	U24239AP2000PTC035396	Ar Pharmacare Private Limited	Additional director	28/11/2008	28/11/2008	-	Active	NO
5	U45400AP2008PTC059493	Neervi Properties Private Limited	Director	25/03/2009	25/03/2009	-	Active	NO
6	U51909AP1983PTC039619	Hartex International Private Limited	Additional director	21/04/2009	21/04/2009	-	Active	NO

Name :	Ms. Namrata Sureka
Designation :	Director
Address :	3/1, Loudon Street, Kolkatta- 700 017, West Bengal, India
Date of Birth/Age :	09.11.1963
Date of Appointment :	01.04.2009
DIN No.:	00055834

S.No.	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
1	U65993WB1993PTC060229	A P Credit Private Limited	Director	01/04/2003	01/04/2003	-	Active	NO
2	U32109WB2004PLC098389	Loginn Hospitality Limited	Director	20/07/2006	20/07/2006	-	Active	NO
3	U36911WB2003PTC096811	Farinni Jewellery Private Limited	Director	28/07/2006	28/07/2006	-	Active	NO
4	U25199AP1961PTC043629	Hartex Rubber Private Limited	Director	01/04/2009	01/04/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2010

Names of Shareholders	No. of Shares
Bhishwambhar Dayal Sureka	32283
B. D. Sureka	11268
A. K. Sureka	39707
Annupama Sureka	16098
Prateek Sureka	19432
Varun Sureka	12658
Pradeep Kumar Sureka	75585
Namrata Sureka	5725
Mansi Sureka	150
Kusum Khemani	1
Veena Goel	1
Pushpa Jaipuria	1
Bhishwambhar Dayal Sureka (HUF)	1
Arun kumar Sureka (HUF)	40
Park Chambers Limited , Kolkata, India	122515
Vasant Sureka	6000
Total	341465

AS ON 29.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	35.88
Directors or relatives of directors	64.12
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cycle Tubes and Tyres.

Products :

Item Code No. (ITC Code)	40115000
Product Description	Cycle Tyre
Item Code No. (ITC Code)	40132000
Product Description	Cycle Tube

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)

v Small Sizes

(Children's  Bicycles)

v Tube Packing/Valves

Exports :

Countries :

Developing Countries like:

v Kenya

v Uganda

v Tanzania

v Nigeria

Imports :

Countries :

v China

v Tanzania

v Russia

Terms :

Selling :

L/C – 50%, D/P – 50%

Purchasing :

L/C, D/P – 50%

PRODUCTION STATUS

As on 31.03.2010

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Tyres- Cycle	Nos.	--	18240000	8027203
Tubes – Cycle	Nos.	--	17165400	8803581

*Licensed capacity not applicable since our industry since our industry dereserved from SSI category

GENERAL INFORMATION

Customers :

v Wholesalers

v OEM’s

No. of Employees :

200 Approximately

Bankers :

• Bank of India, P. B. No.1549, M. G. Road, Secunderabad – 500 003, Andhra Pradesh, India
• ICICI Bank

Facilities :

Secured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Working Capital Loans
Cash Credits from Bank of India	21.017	57.270
ICICI Bank Car Loan	0.372	0.656
Total	21.389	57.926

Unsecured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
From Body Corporate	0.180	0.315
From Directors	3.022	5.858
Total	3.202	6.173

Banking Relations :	-
Auditors :
Name :	Raju and Prasad Chartered Accountants
Address :	401, Diamond House, Adi Amrutha Hills, Panjagutta, Somajiguda Hyderabad – 500 082, Andhra Pradesh, India
Tel. No.:	91-40-23410404
Fax No.:	91-40-23410403
E-Mail :	rajuandprasad@gmial.com Hyderabad@rajuandprasad.com
Memberships :	v The Federation of Andhra Pradesh Chambers of Commerce and Industry v All India Rubber Industries Association
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

AS ON 29.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
350000	Equity Shares	Rs.100/- each	Rs.35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
341465	Equity Shares	Rs.100/- each	Rs.34.146 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		34.146	34.146	34.146
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		365.160	269.110	199.505
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		399.306	303.256	233.651
LOAN FUNDS
1] Secured Loans		21.389	57.926	97.424
2] Unsecured Loans		3.202	6.173	6.960
TOTAL BORROWING		24.591	64.099	104.384
DEFERRED TAX LIABILITIES		0.000	8.211	8.564
TOTAL		423.897	375.566	346.599
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		79.090	93.010	99.244
Capital work-in-progress		0.000	1.023	0.000
INVESTMENT		1.505	30.153	0.006
DEFERREX TAX ASSETS		2.424	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	85.605	66.515	100.334
	Sundry Debtors	185.621	246.296	230.160
	Cash & Bank Balances	54.311	93.824	61.480
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	342.366	133.927	83.808
Total Current Assets		667.903	540.562	475.782
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	19.084	39.524	60.163
	Other Current Liabilities	256.564	207.598	138.925
	Provisions	51.377	42.060	29.345
Total Current Liabilities		327.025	289.182	228.433
Net Current Assets		340.878	251.380	247.349
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		423.897	375.566	346.599

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1151.093	1484.825	1284.379
		Other Income	44.879	43.679	21.078
		TOTAL (A)	1195.972	1528.504	1305.457
Less	EXPENSES
		Manufacturing Expenses	891.895	1207.500	1045.299
		Trading Goods	6.683	5.057	5.147
		Managerial and Administrative Expenses	66.027	50.614	38.260
		Selling and Distribution Expenses	61.683	109.699	108.994
		Variation in Stock	5.877	9.894	(0.966)
		TOTAL (B)	1032.165	1382.764	1196.734
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		163.807	145.740	108.723
Less	FINANCIAL EXPENSES (D)		4.909	14.752	14.674
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		158.898	130.988	94.049
Less/ Add	DEPRECIATION/ AMORTISATION (F)		19.509	16.398	14.513
	PROFIT BEFORE TAX (E-F) (G)		139.389	114.590	79.536
Less	TAX (H)		51.378	42.060	29.345
	PROFIT AFTER TAX (G-H) (I)		88.011	72.530	50.191
	EARNINGS IN FOREIGN CURRENCY		462.141	590.065	446.482

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	7.35	4.75	3.84
Net Profit Margin (PBT/Sales)	(%)	12.10	7.72	6.19
Return on Total Assets (PBT/Total Assets}	(%)	18.66	18.09	13.83
Return on Investment (ROI) (PBT/Networth)		0.34	0.38	0.34
Debt Equity Ratio (Total Liability/Networth)		0.88	1.16	1.42
Current Ratio (Current Asset/Current Liability)		2.04	1.87	2.08

LOCAL AGENCY FURTHER INFORMATION

Note:

Registered office of the company has been shifted from No. 6-3-865, Madhupala Towers, Ameerpet, Hyderabad – 500 016, Andhra Pradesh, India to the present address w.e.f.27.02.2009

COMPANY PERFORMANCE :

The Financial results of the Company for the year under review are as under:

During the year, the company has achieved turnover of Rs. 1338.845 millions in comparison of previous year Rs.1747.423 millions. The profit after tax is increased by 36.63% and Rs.98.646 millions as compare to last vear of Rs. 72.201 millions showing an remarkable increase of about 36.63 %. All attempts to continue the profit and growth path of the company.

There was reduction in turnover and production due to shortage of manpower. F.Y 2009-10 was also a year of wage agreement. Although, turnover and production has come down but company has been able to maintain the profitability, due to rubber imports and reduction in financial charges. There was a wide gape between prices of natural rubber in India and abroad, hence company has imported substantial quantity which added to the bottom line.

OVERVIEW OF OPERATION AND FUTURE OUTLOOK:

Operationally HRPL has recorded an all round superior performance. The company is continuously striving for producing value added products by adding balancing equipments and further intend to modernize, automise. add energy saving equipments along with technical up gradation and develop information technology.

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	10004980
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	Book Debts Movable Property Immovable Property
Particular of charge holder	Bank of India, M. G. Road, Secunderabad – 500 003, Andhra Pradesh, India
Nature of description of the instrument creating or modifying the charge	1. Supplementary Agreement of hypothecation 2. Extension of existing Equitable Mortgage
Date of instrument Creating the charge	11.09.2008
Amount secured by the charge	Rs.254.900 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest @ 1.25 below BPLR min12.75% p a. or such other rate as may be notified by the bank from time to time. Terms of Repayment Repayable on Demand and installments as stipulated in sanction letter dated 18.12.2007. Margin 1. Cash Credit ( Hypothecation of stocks) - 25% 2. Packing Credit - 10% 3. Guarantees Issued - 10% 4. Term Loan- 30% 5. Letter of Credit-10% 6. Cash Credit Book Debts- 30% Extent and Operation of the charge The properties charged will operate as a security for the due repayment of the entire loan of Rs.254.900 millions and interest thereon.
Short particulars of the property charged	First Charge on the Current assets especially the Stocks and Book Debts and Plant and Machinery and Fixed Assets located at Bollaram, Dist: Medak. Equitable mortgage of property of the company situated at 1) Plot No: 106, S No: 172B and 172 C Shri Venkateswara Coop Ind Estate, Bollaram, Dist Medak 2) Plot No: 42 (Part), S No: 334, At: Bachupally, RR Dist (A0.24 and A0.16)
Particulars of the present modification	This modification is being filed for the following enhanced credit limits 1) CC stocks/EPC/FBN : Rs.80.000 Millions, 2) CC book debts and FCL : Rs.80.000 Millions, (Max of 1 and 2= Rs130.000 Millions)-Increase of FB limits of Rs.25.000 Millions 3) Term Loan : Rs.19.900 Millions, 4) Guarantees Issued : Rs.5.000 Millions, 5) Letter of credit : Rs.100.000 Millions.

Fixed Assets

· Land

· Building (Office and Factory)

· Plant and Machinery

· Moulds

· Furniture and Fixtures

· Office Equipment

· Vehicles

· Computers

Website Details:

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.

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.47.89
UK Pound	1	Rs.75.31
Euro	1	Rs.65.63

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		51

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

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.