MIRA INFORM REPORT

Report Date :

14.06.2013

IDENTIFICATION DETAILS

Name :	BELMONT RUBBER PRIVATE LIMITED

Registered Office :	58-B,Industrial Area, Faridabad – 121001, Haryana

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	10.02.2011

Com. Reg. No.:	042060

Capital Investment / Paid-up Capital :	Rs.0.500 Million

CIN No.: [Company Identification No.]	U25199HR2011PTC042060

TAN No.: [Tax Deduction & Collection Account No.]	RTKB04454C

PAN No.: [Permanent Account No.]	AAECB4558k

Legal Form :	Private Limited Liability Company.

Line of Business :	Manufacturer, Trader and Exporter of Rubber Components, Extruded Rubber Components , Moulded Rubber Components, Automotive Rubber Components, Extruded Rubber, Suspension Rubber Bushes, etc.

No. of Employees :	77 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Maximum Credit Limit :	USD 2800

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is a successor of proprietory concern started in the year 1966 with the name “Belmont Rubber Industries” and later in the year 2011 it got converted into private limited company. It is having a moderate track record. Trade relations are reported to be 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 – March 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

India

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.

INFORMATION PARTED BY

Name :	Ms. Renu Sarin
Designation :	Accounts Manager
Contact No.:	91-8588840933
Date :	11.06.2013

LOCATIONS

Registered Office/ Factory :	58-B,Industrial Area, Faridabad-121001, Haryana, India
Tel. No.:	91-129-4021480/4021483
Mobile No.:	91-8588840933 [Ms. Renu Sarin]
Fax No.:	91-129-2233661
E-Mail :	info@belmontrubber.in
Website :	www.belmontrubber.in
Location :	Owned

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Sunil Gulati

Designation :

Director

Address :

H No.-N 101, The Hill View, CGHS Limited , GH-2, Sector-46, Faridabad, Haryana, India

Date of Birth/Age :

20.06.1965

Date of Appointment :

10.02.2011

Din No.:

03378431

Name :

Mrs. Neeru Gulati

Designation :

Director

Address :

H No.-N 101, The Hill View, CGHS Limited , GH-2, Sector-46, Faridabad, Haryana, India

Date of Birth/Age :

12.04.1967

Date of Appointment :

10.02.2011

Din No.:

02010073

Other Directorship:

No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

U25209DL2003PTC122151

BHAWNA COMPONENTS PRIVATE LIMITED

Director

08/09/2003

Active

U25199HR2011PTC042060

BELMONT RUBBER PRIVATE LIMITED

Director

10/02/2011

Active

Name :

Mr. Diwas Gulati

Designation :

Director

Address :

H No.-N 101, The Hill View, CGHS Limited , GH-2, Sector-46, Faridabad, Haryana, India

Date of Birth/Age :

15.07.1990

Date of Appointment :

10.02.2011

Din No.:

03378435

KEY EXECUTIVES

Name :	Ms. Renu Sarin
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders		No. of Shares
Diwas Gulati		16667
Sunil Gulati		16667
Neeru Gulati		16666

TOTAL		50000

AS ON 29.09.2012

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader and Exporter of Rubber Components, Extruded Rubber Components , Moulded Rubber Components, Automotive Rubber Components, Extruded Rubber, Suspension Rubber Bushes, etc.

Products :	Extruded Rubber Components Moulded Rubber Components Belts and Pads Cycle Valves and Brakes Cellular Gas Kits and Sleeves Beadings, Channels and Profile Ring and Hydraulic Buckets Brake Hoses Boots and Bellows Wire Braided Fuel Hoses Bushes and Grommets Coolant and Petrol Pipes Mono and Twin Material Fuel Pipes Rubber to Metal Bonded Diaphragms and Couplings Trolley Wheels and Vibration pads

Exports :
Products :	Belts and Pads, Cycle Valves, Brake Hoses, Bushes and Grommets, etc.
Countries :	USA UK

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Allied Packers
Arihant Enterprises
BPS International Private Limited
Bajaj Rubber Company
Cosmos Elastomers
Essan Chemicals
G.D. Associates
Gulati Steel Fab Private Limited
H.J. Engineers
Indian Organic Corporation
Om Generator and Tractor Works
Phillips Carbon Black Limited
Prince Engineers and Fabrication
Rajdhani Traders
Rishab Polymers
Rub Tech Corporation
Om Trading Company

Customers :

Wholesalers and Retailers

Action Cons. Equipment Limited
Anergy Instruments Private Limited
Complete Surveying
HMT Limited
Indo Asian Electric Private Limited
International Cars and Motors Limited
Keselec Schreder Private Limited
Nalwa Udyog
Rasandik Engineering Industries India Limited
Robot Component Private Limited
Shree Gee Impex Private Limited
Lakhani Rubber Works

No. of Employees :

77 (Approximately)

Bankers :

ICICI Bank, Faridabad, Haryana, India
Punjab National Bank, Faridabad, Haryana, India

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Secured Loan	3.083
TOTAL	3.083

Unsecured Loan	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Unsecured Loan	2.750
TOTAL	2.750


Banking Relations :	--

Auditors :
Name :	Harish Rampal Chartered Accountants
Address :	B-317/318, Nehru Ground, N.I.T., Faridabad-121001, Haryana, India
PAN No:	ADNPR3044F

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital			0.500
(b) Reserves & Surplus			0.216
(c) Money received against share warrants			0.000

(2) Share Application money pending allotment			0.000

(3) Non-current liabilities
(a) long-term borrowings			5.833
(b) Deferred tax liabilities (Net)			0.000
(c) Other long term liabilities			0.000
(d) long-term provisions			0.000

(4) Current liabilities
(a) Short term borrowings			0.000
(b) Trade payables			39.143
(c) Other current liabilities			0.541
(d) Short-term provisions			0.000
TOTAL			46.233

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets			7.066
(ii) Intangible Assets			0.000
(iii) Capital work-in-progress			0.000
(iv) Intangible assets under development			0.000
(b) Non-current Investments			0.000
(c) Deferred tax assets (net)			0.000
(d) Long-term Loan and Advances			0.000
(e) Other Non-current assets			0.000

(2) Current assets
(a) Current investments			0.000
(b) Inventories			2.487
(c) Trade receivables			27.121
(d) Cash and cash equivalents			7.244
(e) Short-term loans and advances			0.116
(f) Other current assets			2.199
TOTAL			46.233

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012
	SALES
		Income	95.661
		Other Income	0.003
		TOTAL	95.664

Less	EXPENSES
		Operating, Administrative and Other Expenses	94.836
		Increase/ Decrease in Stock	(0.741)
		TOTAL	94.095

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1.569

Less	FINANCIAL EXPENSES		0.131

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.438

Less/ Add	DEPRECIATION/ AMORTISATION		1.223

	PROFIT FOR THE YEAR		0.215

Particulars

31.03.2013

Sales Turnover [Approximately]

91.157

[Due to fluctuation in raw material]

Expected Sales (2013-14) : Rs.100.000 Millions

The above information has been parted by Ms. Renu Sarin.

KEY RATIOS

PARTICULARS		31.03.2012
PAT / Total Income	(%)	0.22

Net Profit Margin (PBT/Sales)	(%)	0.22

Return on Total Assets (PBT/Total Assets}	(%)	0.47

Return on Investment (ROI) (PBT/Networth)		0.30

Debt Equity Ratio (Total Debt/Networth)		8.15

Current Ratio (Current Asset/Current Liability)		0.99

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for two years	Yes
12]	Profitability for one year	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

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 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 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.58.41
UK Pound	1	Rs.91.62
Euro	1	Rs.78.12

INFORMATION DETAILS

Information Gathered by :	PLV

Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.

MIRA INFORM REPORT

0.22

Unit