MIRA INFORM REPORT

Report Date :

11.07.2014

IDENTIFICATION DETAILS

Name :	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED
Registered Office :	Unit No.77, Mistry Industrial Complex, MIDC Cross Road A, Andheri (East), Mumbai – 400093, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	11.01.1995
Com. Reg. No.:	11-084554
Capital Investment / Paid-up Capital :	Rs.30.800 Millions
CIN No.: [Company Identification No.]	U25110MH1995PTC084554
TAN No.: [Tax Deduction & Collection Account No.]	MUMM19218D / MUMM10324G
PAN No.: [Permanent Account No.]	AAACM7425N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and exports of rubber moulded items and rubber to metal bonded items.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 1330000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financial position of the company is good. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings 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.

INDIAN ECONOMIC OVERVIEW

N E W S

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BBB
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	11.12.2013

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3+
Rating Explanation	Moderate degree of safety. It carry higher credit risk.
Date	11.12.2013

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 DENIED BY

Name :	Ms. Rekha
Designation :	Export Department
Contact No.:	91-8554998607
Date :	10.07.2014

LOCATIONS

Registered Office :	Unit No.77, Mistry Industrial Complex, MIDC Cross Road A, Andheri (East), Mumbai – 400 093, Maharashtra, India
Tel. No.:	91-22-26870441 / 26871769 / 26872696 / 26870330 / 26870331 / 26870360
Mobile No.:	91-8554998607 (Ms. Rekha)
Fax No.:	91-22-26877339
E-Mail :	sujan@bom3.vsnl.net.in mega@bom2.vsnl.net.in mega_rubber@vsnl.com admin@megarubbertech.com sales@megaubbertech.com megarubber@sify.com
Website :	http://www.sujangroup.com
Area :	4500 Sq. ft (Approximately)
Location :	Owned
Corporate Office/Factory 1:	Building No. 1, Agarwal Udyog Nagar Waliv, Vasai Road (East), District Thane - 401 208, Maharashtra, India
Tel. No.:	91-250-2456426 / 2456430 / 2454365 / 2454520
Fax No.:	91-250-2454519
Factory 2 :	Located At: Hosur, Krishnagiri, Tamilnadu, India

DIRECTORS

As on 30.09.2013

Name :

Mr. Neel Rewachand Sujan

Designation :

Managing Director

Address :

802/902, Ruchita Tower, Juhu Versova Link Road, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

05.08.1975

Date of Appointment :

07.09.1996

DIN No.:

01424276

Other Directorship:

S. 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	Date of cessation	Company/ LLP Status	Defaulting status
1	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Managing director	07/09/1996	07/09/1996	-	Active	NO
2	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	09/10/2004	09/10/2004	-	Active	NO
3	U70102MH2007PTC167360	SUJAN REALTORS PRIVATE LIMITED	Director	29/01/2007	29/01/2007	-	Active	NO
4	U51900MH2008PTC185753	SUJAN COOPER STANDARD AVS PRIVATE LIMITED	Director	12/08/2008	12/08/2008	-	Active	NO

Name :

Mr. Tulsi Rewachand Sujan

Designation :

Director

Address :

401/402, Gulshan, Junction of Ahinsa Marg, and Khar Danda Road, Mumbai - 400 052, Maharashtra, India

Date of Birth/Age :

18.03.1949

Qualification :

B.E. (Mechanical)

Date of Appointment :

11.01.1995

DIN No.:

01561095

Other Directorship:

S. 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	Date of cessation	Company/ LLP Status	Defaulting status
1	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	27/07/1994	27/07/1994	-	Active	NO
2	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	11/01/1995	11/01/1995	-	Active	NO
3	U25110MH2005PTC156873	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED	Director	19/10/2005	19/10/2005	-	Active	NO
4	U70102MH2007PTC167360	SUJAN REALTORS PRIVATE LIMITED	Director	29/01/2007	29/01/2007	-	Active	NO

Name :

Mr. Jayprakash Khanchand Vasdani

Designation :

Director

Address :

703-C, Ganga Estate, Behind Atur Park, Chembur, Mumbai - 400 071, Maharashtra, India

Date of Birth/Age :

12.04.1955

Date of Appointment :

04.07.1997

DIN No.:

01424172

Other Directorship:

S. 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	Date of cessation	Company/ LLP Status	Defaulting status
1	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	27/07/1994	27/07/1994	-	Active	NO
2	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	04/07/1997	04/07/1997	-	Active	NO
3	U25110MH2005PTC156873	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED	Director	19/10/2005	19/10/2005	-	Active	NO

Name :

Mr. Ashok Sujan Rewachand

Designation :

Director

Address :

1701, Green Acre, Flat No. 325, Lokhandwala Complex, Andheri (West), Mumbai – 400 058, Maharashtra, India

Date of Birth/Age :

20.12.1950

Date of Appointment :

04.07.1997

DIN No.:

01424203

Other Directorship:

S. 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	Date of cessation	Company/ LLP Status	Defaulting status
1	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	04/07/1997	04/07/1997	-	Active	NO
2	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	09/10/2004	09/10/2004	-	Active	NO
3	U25110MH2005PTC156873	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED	Director	19/10/2005	19/10/2005	-	Active	NO
4	U51900MH2008PTC185753	SUJAN COOPER STANDARD AVS PRIVATE LIMITED	Director	28/07/2011	26/08/2008	-	Active	NO

Name :

Mr. Vijay Jeewan Sujan

Designation :

Director

Address :

B 3 / 6, Basant Park, Mahul Road, Chembur, Mumbai – 400 071, Maharashtra, India

Date of Birth/Age :

15.07.1974

Date of Appointment :

15.03.1997

DIN No.:

02420980

Other Directorship:

S. 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	Date of cessation	Company/ LLP Status	Defaulting status
1	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	15/03/1997	15/03/1997	-	Active	NO
2	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	09/10/2004	09/10/2004	-	Active	NO
3	U70102MH2012PTC230624	JVPD ONE PRIVATE LIMITED	Additional director	01/07/2013	01/07/2013	-	Active	NO
4	AAA-0301	ANHADH REALTORS LLP	Designated Partner	22/10/2009	22/10/2009	-	Active	NO
5	AAA-0799	SIMHADH REALTY LLP	Designated Partner	22/02/2010	22/02/2010	-	Active	NO

Name :

Mr. Harish Rewachand Sujan

Designation :

Director

Address :

B 4/6, Basant Park, Mahul Road, Chembur, Mumbai – 400 071, Maharashtra, India

Date of Birth/Age :

24.08.1946

Date of Appointment :

04.07.1997

DIN No.:

02420984

Other Directorship:

S. 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	Date of cessation	Company/ LLP Status	Defaulting status
1	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	27/07/1994	27/07/1994	-	Active	NO
2	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	04/07/1997	04/07/1997	-	Active	NO

Name :

Mr. Ghanshyam Rewachand Sujan

Designation :

Director

Address :

901, Buena Vista, St. Alexius Road, Bandra (West), Mumbai - 400 050, Maharashtra, India

Date of Birth/Age :

10.07.1954

Date of Appointment :

07.09.1996

DIN No.:

02420985

Other Directorship:

S. 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	Date of cessation	Company/ LLP Status	Defaulting status
1	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	07/09/1996	07/09/1996	-	Active	NO
2	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	09/10/2004	09/10/2004	-	Active	NO
3	U70102MH2007PTC167360	SUJAN REALTORS PRIVATE LIMITED	Director	29/01/2007	29/01/2007	-	Active	NO
4	U25110MH2005PTC156873	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED	Director	01/10/2007	01/10/2007	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Rekha
Designation :	Export Department

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Harish Rewachand Sujan Jointly with Mrs. Padma Harish Sujan	327800
Harish Rewachand Sujan H.U.F.	55000
Ghanshyam Rewachand Sujan Jointly with Mrs. Kanchan Sujan	325600
Ghanshyam Rewachand Sujan HUF	55000
Tulsi Rewachand Sujan Jointly with Mrs. Kamal Tulsi Sujan	333300
Tulsi Rewachand Sujan H.U.F.	55000
Ashok Rewachand Sujan Jointly with Mrs. Manisha Ashok Sujan	325600
Ashok Rewachand Sujan H.U.F.	55000
Neel Rewachand Sujan Jointly with Mrs. Sheetal Neel Sujan	325600
Neel Rewachand Sujan H.U.F.	55000
Vijay Jeevan Sujan Jointly with Mrs. Sarvinder Vijay Sujan	311300
Jai Prakash Vasdani Jointly with Mrs. Vijaylakshmi Vasdani	380600
Pramod Kumar Sharma Jointly with Mrs. Pinky Pramod Sharma	381700
Usha Jeevan Sujan Jointly with Mr. V. Sujan	4400
Padma Harish Sujan Jointly with Mr. Harish Sujan	4400
Kamal Tulsi Sujan Jointly with Mr. Tulsi Sujan	4400
Manisha Ashok Sujan Jointly with Mr. Ashok Sujan	4400
Vijaylakshi Vasdani Jointly with Mr. Jaiprakash Vasdani	4400
Kanchan R. Sujan Jointly with Mr. Ghanshyam Sujan	4400
Sheetal N. Sujan Jointly with Mr. Neel Sujan	4400
Pinky Pramod Sharma Jointly with Mr. Pramod Sharma	3300
Satvinder V. Sujan Jointly with Mr. Vijay Sujan	4400
Jeevan Sujan H.U.F.	55000
Total	3080000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and exports of rubber moulded items and rubber to metal bonded items.

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

· State Bank of Hyderabad, Overseas Branch, 1204, Ashok Mahal, Tulloch Road, Colaba, Mumbai - 400039, Maharashtra, India

Tel. No.: 91-22-22851322

· Citi Bank N. A., Trent House, 2nd Floor, G Block, Plot No C60, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

Tel. No.: 91-22-40015757

· Axis Bank Limited, Ground Floor, Axis House, Bombay Dyeing Mills Compound, P B Marg, Worli, Mumbai - 400025, Maharashtra, India

· HDFC Bank

· Kotak Mahindra Bank

· ICICI Bank Limited

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	129.228	103.228
Loans taken for vehicles	4.465	4.465
Short Term Borrowings
Rupee term loans from banks	131.457	104.200
Total	265.150	211.893

Banking Relations :	--
Auditors :
Name :	Rohira Mehta and Associates Chartered Accountants
Address :	B-202, 2^nd Floor, Grand Bella Vista, Near Jari Mari Temple, S.V. Road Bandra (West), Mumbai – 400050, Maharashtra, India
Tel. No.:	91-22-42084500
Fax No.:	91-22-42084501
E-Mail :	info@rohiramehta.com
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Magnum Elastomers Private Limited CIN No.: U25190MH1994PTC079883 · Polyrub Extrusions (India) Private Limited CIN No.: U25110MH2005PTC156873 · Sujan Cooper Standard Avs Private Limited CIN No.: U51900MH2008PTC185753

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5500000	Equity Shares	Rs.10/- each	Rs.55.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3080000	Equity Shares	Rs.10/- each	Rs.30.800 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	30.800	30.800	30.800
(b) Reserves & Surplus	301.714	234.234	185.443
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	332.514	265.034	216.243
(3) Non-Current Liabilities
(a) long-term borrowings	216.296	155.760	99.979
(b) Deferred tax liabilities (Net)	4.272	0.663	0.731
(c) Other long term liabilities	0.081	0.701	0.701
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	220.649	157.124	101.411
(4) Current Liabilities
(a) Short term borrowings	131.457	104.200	131.136
(b) Trade payables	145.295	76.697	67.355
(c) Other current liabilities	220.576	59.576	48.278
(d) Short-term provisions	16.246	9.109	9.468
Total Current Liabilities (4)	513.574	249.582	256.237
TOTAL	1,066.737	671.740	573.891
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	467.406	314.993	246.343
(ii) Intangible Assets	41.133	0.919	0.486
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	20.581	9.262	8.767
(e) Other Non-current assets	2.489	1.473	1.473
Total Non-Current Assets	531.609	326.647	257.069
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	149.515	89.920	90.516
(c) Trade receivables	297.057	232.484	194.308
(d) Cash and cash equivalents	5.802	5.903	10.255
(e) Short-term loans and advances	81.108	11.886	13.007
(f) Other current assets	1.646	4.900	8.736
Total Current Assets	535.128	345.093	316.822
TOTAL	1,066.737	671.740	573.891

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	INCOME		NA	NA	NA
	EXPENSES		NA	NA	NA
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		200.757	160.089	115.698
Less	FINANCIAL EXPENSES		44.457	38.157	30.214
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		156.300	121.932	85.484
Less	DEPRECIATION/ AMORTISATION		55.683	45.925	43.397
	PROFIT/(LOSS) BEFORE TAX AND EXCEPTIONAL ITEMS		100.617	76.007	42.087
Add / Less	PROFIT ON SALE OF FIXED ASSETS		0.059	0.298	23.054
	PROFIT/(LOSS) BEFORE TAX		100.676	76.305	65.141
Less	TAX		33.196	24.609	13.965
	PROFIT/(LOSS) AFTER TAX		67.480	51.696	51.176
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		226.281	177.490	126.375
Less	APPROPRIATIONS
		Earlier years tax adjustment	0.000	2.866	0.061
		Opening balance in gratuity valuation	0.000	0.039	0.000
	BALANCE CARRIED TO THE B/S		293.761	226.281	177.490
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	147.925	117.966	100.929
	TOTAL EARNINGS		147.925	117.966	100.929
	Earnings Per Share (Rs.)		21.91	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	9.44	11.36	11.35
Return on Investment (ROI) (PBT/Networth)		0.30	0.29	0.30
Debt Equity Ratio (Total Debt /Networth)		1.05	0.98	1.07
Current Ratio (Current Asset/Current Liability)		1.04	1.38	1.24

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	30.800	30.800	30.800
Reserves & Surplus	185.443	234.234	301.714
Net worth	216.243	265.034	332.514
long-term borrowings	99.979	155.760	216.296
Short term borrowings	131.136	104.200	131.457
Total borrowings	231.115	259.960	347.753
Debt/Equity ratio	1.069	0.981	1.046

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	Yes
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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
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	Yes
17]	Major suppliers	No
18]	Major customers	No
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	Yes

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Loans and advances from related parties	82.603	48.067
Total	82.603	48.067

CORPORATE INFORMATION

The Company is a Company domiciled in India and incorporated under the provisions of the Companies Act, 1956 as on January 11 1995, as a private limited company. The Company is engaged primarily in the business of manufacturing and exports of rubber moulded items & rubber to metal bonded items.

OPERATIONS

Towards the end of the year, the company purchased the “Rubber Division” of Sundaram Auto Components Limited” which consisted of the entire undertaking of its Rubber Division comprising of its manufacturing plant in South India at Hosur in Tamilnadu, near Bengaluru along with its employees as a going concern, as governed by the Business Transfer Agreement entered into by the company with the said Sundaram Auto Components Limited. .

FUTURE OUTLOOK

The Automobile Sector too has been under pressure in the wake of economic downturn. The margins continue to be and are expected to be under more pressure in the years to come. Under the scenario, the management proposes to continue its strategy to enhance the capacity by adding new machines and achieve growth through volumes. The Hosur unit commissioned at the end of the year is expected to contribute to significant volumes for the company. Efforts are continuing in order to achieve new synergies in terms of proximity to key customers or achieve supply chain economies, as also extend cost reduction and rationalization measures, to boost the performance positively.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10445581	11/07/2013	337,000,000.00	State Bank of Hyderabad	Overseas Branch, Ashok Mahal, 1204, Tulloch, Colaba, Mumbai, Maharashtra - 400039, India	B83328807
2	10445576	11/07/2013	449,000,000.00	State Bank of Hyderabad	Overseas Branch, Ashok Mahal, 1204, Tulloch, Colaba, Mumbai, Maharashtra - 400039, India	B83326652
3	10416695	04/03/2013	175,000,000.00	Axis Bank Limited	Ground Floor, Axis House,, Bombay Dyeing Mills Co mpound, P B Marg, Worli, Mumbai, Maharashtra - 400 025, INDIA	B72274939
4	10216874	11/07/2013 *	786,000,000.00	State Bank of Hyderabad	Overseas Branch, Ashok Mahal, 1204, Tulloch, Colaba, Mumbai, Maharashtra - 400039, India	B83327825
5	10222472	06/04/2010	43,000,000.00	CITIBANK N. A.	Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India	A86419207
6	10174517	20/05/2011 *	442,000,000.00	State Bank of Hyderabad	Overseas Branch, Ashok Mahal, 1204, Tulloch, Colaba, Mumbai, Maharashtra - 400039, India	B14565378
7	10131422	15/11/2008	10,000,000.00	Standard Chartered Bank	SME Credit, 23-25, M G Road,, Fort, Mumbai, Maharashtra - 400001, INDIA	A51606051
8	10076681	28/09/2007	13,000,000.00	CITIBANK N. A	Citigroup Centre, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, India	A26099259
9	80005612	30/09/2006 *	199,500,000.00	CITIBANK N. A	Citigroup Centre, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, India	A06355622
10	80004944	15/02/2011 *	40,000,000.00	CITIBANK N. A.	Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India	B09585985
11	90160074	25/01/2002	165,000.00	FORD INDIA LIMITED	Sp. Koiz; Chenglepox, 603204; Kancheepodam, Aurangabad, Maharashtra, India	-
12	90159890	28/01/2000	660,000.00	The Hongkong and Sanghai Banking Corp. Limited	Network Service Centre, Sudam Kalu Ahire Marg; Worli, Mumbai, Maharashtra - 400025, India	-
13	90159546	10/11/2000 *	33,000,000.00	STATE BANK OF INDIA	M.I.D.C. Andheri (East) Branch, Marol; Central Road; Andheri (East), Mumbai, Maharashtra - 400093, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.59.88
UK Pound	1	Rs.102.59
Euro	1	Rs.81.69

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	DIV
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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.