MIRA INFORM REPORT

Report Date :

16.08.2012

IDENTIFICATION DETAILS

Name :	AMBER BUSH RUBBER INDUSTRIES PRIVATE LIMITED
Registered Office :	Plot No. N-1, Shed No.W-36/B, MIDC Sirgaon Badlapur, P O Kulgaon, Thane - 421503, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.11.1984
Com. Reg. No.:	11-034541
Capital Investment / Paid-up Capital :	Rs.0.475 Million
CIN No.: [Company Identification No.]	U99999MH1984PTC034541
TAN No.: [Tax Deduction & Collection Account No.]	MUMA24670C
PAN No.: [Permanent Account No.]	AACCA2254K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Good in all types of Synthetic Rubber, Extruded and Moulded Products, Shanti Brand Rubber Rolls for Rice Mill.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 17400
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. It is progressing slowly but steadily. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered for mediocre 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office/ Factory :	Plot No. N-1, Shed No.W-36/B, MIDC Sirgaon Badlapur, P O Kulgaon, Thane - 421503, Maharashtra, India
Tel. No.:	91-251-2690393/ 2697024
Fax No.:	91-251-2697024
E-Mail :	amberrub@vsnl.com amber@abpril.com
Corporate Office :	R. C. Bk. No.28/335, Chembur Colony, Mumbai – 400074, Maharashtra, India
Tel. No.:	91-22-25205336/ 25205061

DIRECTORS

(AS ON 25.09.2011)

Name :	Mr. Prempal Kripal Singh
Designation :	Director
Address :	R. C. Barrack No.28/335, Chembur, Mumbai – 400074, Maharashtra, India
Date of Birth/Age :	13.07.1944
Date of Appointment :	14.11.1984
DIN No.:	00304886
Name :	Mrs. Javitridevi Singh
Designation :	Director
Address :	R. C. Barrack No.28/335, Chembur, Mumbai – 400074, Maharashtra, India
Date of Birth/Age :	13.04.1948
Date of Appointment :	01.04.1988
Name :	Mr. Ashok Prempal Singh
Designation :	Director
Address :	R. C. Barrack No.28/335, Chembur, Mumbai – 400074, Maharashtra, India
Date of Birth/Age :	22.03.1977
Date of Appointment :	03.08.1999
DIN No.:	00304401
Name :	Mr. Rajendra Singh
Designation :	Director
Address :	R. C. Barrack No.28/335, Chembur, Mumbai – 400074, Maharashtra, India
Date of Birth/Age :	03.01.1974
Date of Appointment :	16.07.1999

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 25.09.2011)

Names of Shareholders	No. of Shares
Prempal Kripal Singh	1806
Javitridevi Singh	234
Ashok Prempal Singh	2085
Rajendra Singh	625
Total	4750

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Good in all types of Synthetic Rubber, Extruded and Moulded Products, Shanti Brand Rubber Rolls for Rice Mill.

GENERAL INFORMATION

Suppliers :

· A.B. Brothers

· Bhavana Trading Company

· B. P. Chemicals

· Industrial Agencies

· Jayleela Enterprise

· Micro Chem

· Milan Chemical

· M K Marketing

· M N Polymers

· Phillips Carban Balck Limited

· Rohit Rubber Corporation

· SBM Chemicals and Instruments Private Limited

· Silico Rasayan Industries

· Trident Polychem Private Limited

Customers :

· Balmer Lawrie Van Leer Limited

· JSW Steel Limited

· JMF Synthetics (India) Private Limited

· Proseal Closures Private Limited

· Technocraft Industrial Private Limited

No. of Employees :

Not Available

Bankers :

· Bank of Maharashtra

Jagdish Industrial Estate, Vartak Nagar, Thane – 400606, Maharashtra, India

· HDFC Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Bank of Maharashtra Cash Credit against Hypothecation of Stock and Book Debts with Vartak Nagar Branch	3.532	3.290
HDFC Car Loan	0.527	0.810
Term Loan Bank of Maharashtra	0.000	1.250
Total	4.059	5.350
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Directors	0.070	0.000
From Others	1.383	0.500
Total	1.453	0.500

Banking Relations :	--
Auditors :
Name :	Awadhesh Singh Chartered Accountant
Address :	403, B-Amber Lorachana CHS. Limited, Amar Nagar, Mulund (West), Mumbai – 400082, Maharashtra, India
PAN No.:	AUAPS7659H

CAPITAL STRUCTURE

(AS ON 25.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4750	Equity Shares	Rs.100/- each	Rs.0.475 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		0.475	0.475	0.475
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3.880	3.663	3.529
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.355	4.138	4.004
LOAN FUNDS
1] Secured Loans		4.059	5.350	2.629
2] Unsecured Loans		1.453	0.500	0.728
TOTAL BORROWING		5.512	5.850	3.357
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		9.867	9.988	7.361
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.133	4.240	3.479
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	3.806	1.173	1.040
	Sundry Debtors	4.390	3.959	2.949
	Cash & Bank Balances	0.449	0.654	0.075
	Other Current Assets	0.192	0.150	0.278
	Loans & Advances	2.225	4.027	1.837
Total Current Assets		11.062	9.963	6.179
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	4.334	2.828	1.085
	Other Current Liabilities	0.237	0.768	0.724
	Provisions	0.757	0.619	0.488
Total Current Liabilities		5.328	4.215	2.297
Net Current Assets		5.734	5.748	3.882
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		9.867	9.988	7.361

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010	31.03.2009
	TOTAL SALES	24.518	20.873	19.120
	PROFIT BEFORE DEPRECIATION	0.726	0.527	0.489
Less	DEPRECIATION	0.371	0.262	0.174
	Profit Carried forward During the year	0.355	0.265	0.315
	Earnings Per Share (Rs.)	--	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	1.45	1.27	1.65
Return on Total Assets (PBT/Total Assets}	(%)	2.34	1.87	3.26
Return on Investment (ROI) (PBT/Networth)		0.08	0.06	0.08
Debt Equity Ratio (Total Liability/Networth)		2.49	2.43	1.41
Current Ratio (Current Asset/Current Liability)		2.08	2.36	2.69

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

OPERATIONS:

The company has made total sales amounting to Rs.24.518 Millions

FIXED ASSETS:

· Goodwill

· Factory Shed

· Furniture and Fixture

· Plant and Machinery

· Scooter

· Tools and Equipment

· Vehicles

· T.V.

· Fridge

· Computer

· Air Conditioner

· Mobile

· Fax Machinery

· Cycle

· Vehicles – Innova

· Generator

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.55.64
UK Pound	1	Rs.87.31
Euro	1	Rs.68.81

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
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	4
--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		41

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.