MIRA INFORM REPORT

Report Date :

10.09.2014

IDENTIFICATION DETAILS

Name :	HARTEX RUBBER PRIVATE LIMITED (w.e.f. 18.03.2005)
Formerly Known As :	KEMRUB PRIVATE LIMITED
Registered Office :	4^th Floor, House No. 8-2-472, Road No. 1, Banjara Hills, Hyderabad – 500034, Telangana
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	12.01.1961
Com. Reg. No.:	01-043629
Capital Investment / Paid-up Capital :	Rs.34.146 Millions
CIN No.: [Company Identification No.]	U40300TG1961PTC043629
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 :	350 (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 3090000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a wee-established and a reputed company having a fine track. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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.

INDIAN ECONOMIC OVERVIEW

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating =A-
Rating Explanation	Have adequate degree of safety and carry low credit risk
Date	30.04.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating =A2+
Rating Explanation	Have strong degree of safety and carry low credit risk
Date	30.04.2014

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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Ms. Anita
Designation :	Receptionist
Contact No.:	91-40-31924450
Date :	01.09.2014

LOCATIONS

Registered Office :	4^th Floor, House No. 8-2-472, Road No. 1, Banjara Hills, Hyderabad – 500034, Telangana, India
Tel. No.:	91-40-31924450
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
Location :	Owned
Locality :	Industrial
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 : · 4-8-769, Gowliguda Chaman, Hyderabad – 500 012, Andhra Pradesh · Door No. 18-02-97 “A”, Ashok Nagar, Tirupati, Andhra Pradesh · No. 11-3-29 / B, 1^st Floor, Angabalavari Street, Islampet, Vijayawada – 520 001, Andhra Pradesh · 6-2-12 (A), Nyapathi Street, T. Nagar, Innespeta, Rajamundry – 533 101, Andhra Pradesh · Door No. 32-2-17, Bowdara Road, Near Sir Satya Lodge, Visakhapatnam – 530 004, Andhra Pradesh · 126, Broadway, 1^st Floor, P. O. Box No. 7814, Chennai – 600 108, Tamilnadu · No. 40, North Avani Moola Street, P. O. Box No. 106, Madurai – 625 001, Tamilnadu · P. O. Box No. 646, Door No. 53, Pulikuthi Main Road, Gugai, Salem – 636 006, Tamilnadu · No. 39, Keela Chatram Road, Tennur, Trichy – 620 017, Tamilnadu · No. 10, Head Post Office Road, Coimbatore – 641 101

DIRECTORS

As on: 30.09.2013

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

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	U40300TG1961PTC043629	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 CO. LTD.	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	U51909TG1983PTC039619	HARTEX INTERNATIONAL PRIVATE LIMITED	Director	09/09/1983	09/09/1983	-	Active	NO
6	U24134TG1987PTC007646	HARTEX POLYMERS PVT LTD	Director	28/07/1987	28/07/1987	-	Active	NO
7	U70101WB1989PLC046881	CONCRETE DEVELOPERS LTD	Director	15/05/1989	15/05/1989	25/01/2012	Active	NO
8	U24130MH1989PTC054777	HARTEX TUBES PRIVATE LIMITED	Director	27/12/1989	27/12/1989	-	Active	NO
9	U26101WB1974PTC184059	ROCK-CEMENTS (INDIA) PRIVATE LIMITED	Director	14/09/1994	14/09/1994	-	Active	NO
10	U74899DL1960PLC217233	RUBBER RECLAIM CO OF INDIA LTD	Director	20/03/1996	20/03/1996	30/11/2013	Active	NO
11	U70102TG2005PTC045173	UNIVERSAL REALTORS PRIVATE LIMITED	Whole-time director	01/04/2012	29/09/2005	-	Active	NO
12	U45400TG2013PTC085526	LEPTON CONSTRUCTIONS PRIVATE LIMITED	Director	31/01/2013	31/01/2013	-	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 :

21.07.1972

DIN No.:

00049713

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	U70109WB1964PTC026115	SADHANA PROPERTIES PVT LTD	Director	22/06/1964	22/06/1964	-	Amalgamated	NO
2	U40300TG1961PTC043629	HARTEX RUBBER PRIVATE LIMITED	Director	21/07/1972	21/07/1972	-	Active	NO
3	L65993WB1978PLC031327	PARK CHAMBERS LTD	Director	27/03/1978	27/03/1978	-	Active	NO
4	U70101WB1985PLC038916	SUREKA ESTATES LTD	Director	09/05/1985	09/05/1985	-	Amalgamated	NO
5	L24110WB1960PLC024910	KANORIA CHEMICALS & INDUSTRIES LTD	Director	25/05/1985	25/05/1985	-	Active	NO
6	U70109WB1985PLC039108	BRAINWAVE APPLICATIONS LTD	Director	06/01/1986	06/01/1986	-	Active	NO
7	U45200TG1986PTC006563	VISHAL DEVELOPERS & BUILDERS PRIVATE LIMITED	Director	26/06/1986	26/06/1986	-	Active	NO
8	U24134TG1987PTC007646	HARTEX POLYMERS PVT LTD	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	07/12/2011	Active	NO
11	U51909TG1983PTC039619	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 :

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

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	U45200TG1986PTC006563	VISHAL DEVELOPERS & BUILDERS PRIVATE LIMITED	Director	29/05/2003	29/05/2003	-	Active	NO
2	U40300TG1961PTC043629	HARTEX RUBBER PRIVATE LIMITED	Director	31/12/2004	31/12/2004	-	Active	NO
3	U45200TG2005PTC045432	VISHAL SHELTERS PRIVATE LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
4	U70102TG2005PTC045173	UNIVERSAL REALTORS PRIVATE LIMITED	Whole-time director	01/04/2012	29/09/2005	-	Active	NO
5	L27109WB1962PLC025605	NATIONAL STANDARD (INDIA) LIMITED	Director	13/12/2005	13/12/2005	15/06/2007	Active	NO
6	U21093TG2006PTC051017	GAURAV VIPA PAPERS PRIVATE LIMITED	Director	29/08/2006	29/08/2006	-	Active	NO
7	U45400TG2008PTC059493	NEERVI PROPERTIES PRIVATE LIMITED	Director	04/06/2008	04/06/2008	-	Active	NO
8	U24239TG2000PTC035396	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
10	U41000TG2012PTC078625	HOLLIND AQUA PRIVATE LIMITED	Director	17/01/2012	17/01/2012	-	Active	NO
11	U45209TG2012PTC083686	AADRI DEVELOPERS PRIVATE LIMITED	Director	18/10/2012	18/10/2012	-	Active	NO
12	U45300TG2012PTC083760	ADRIAN BUILDCON PRIVATE LIMITED	Director	22/10/2012	22/10/2012	-	Active	NO
13	U45200TG2012PTC083813	MESO PRIME SPACES PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO
14	U45400TG2012PTC083912	LEPTON BUILDERS PRIVATE LIMITED	Director	31/10/2012	31/10/2012	-	Active	NO
15	U45400TG2012PTC083936	BOSON PRIME SPACES PRIVATE LIMITED	Director	01/11/2012	01/11/2012	-	Active	NO
16	U45400TG2013PTC085526	LEPTON CONSTRUCTIONS PRIVATE LIMITED	Director	31/01/2013	31/01/2013	-	Active	NO
17	U85195WB2007PTC114933	GLOBAL SUNRISE MEDI SERVICES PRIVATE LIMITED	Additional director	26/06/2013	26/06/2013	-	Active	NO
18	U74900WB2013PTC195621	RGVS TRADING PRIVATE LIMITED	Director	16/07/2013	16/07/2013	-	Active	NO
19	U70102WB2014PTC201025	BMS Realty Private Limited	Additional director	11/08/2014	11/08/2014	-	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

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	U65993WB1993PTC060229	A P CREDIT PVT LTD	Director	26/12/2000	26/12/2000	-	Active	NO
2	U45200TG2005PTC045432	VISHAL SHELTERS PRIVATE LIMITED	Director	22/12/2005	22/12/2005	-	Active	NO
3	U70109WB1985PLC039108	BRAINWAVE APPLICATIONS LTD	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	U40300TG1961PTC043629	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	Director	12/08/2011	29/04/2011	-	Active	NO
8	U40108WB2011PTC157479	ABHYUDAYA POWER PRIVATE LIMITED	Director	28/09/2012	01/09/2011	-	Active	NO
9	U45400WB2012PTC183985	GRANDMARK SUREKA REALTY PRIVATE LIMITED	Director	18/09/2012	18/09/2012	-	Active	NO
10	U45201OR2004PTC007606	SUREKA MERLIN PROMOTERS PRIVATE LIMITED	Director	02/04/2013	02/04/2013	-	Active	NO
11	U70101WB2003PLC097238	BENGAL PARK CHAMBERS HOUSING DEVELOPMENT LIMITED	Director	14/09/2013	10/08/2013	-	Active	NO
12	U32109WB2004PLC098389	LOGINN HOSPITALITY LIMITED	Director	27/09/2013	26/08/2013	-	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

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	U24130MH1989PTC054777	HARTEX TUBES PRIVATE LIMITED	Director	04/09/2006	04/09/2006	-	Active	NO
2	U40300TG1961PTC043629	HARTEX RUBBER PRIVATE LIMITED	Director	01/03/2008	01/03/2008	-	Active	NO
3	U70102TG2008PTC060810	ONEWORLD TOWNSHIPS PRIVATE LIMITED	Director	29/08/2008	29/08/2008	-	Active	NO
4	U24239TG2000PTC035396	AR PHARMACARE PRIVATE LIMITED	Additional director	28/11/2008	28/11/2008	-	Active	NO
5	U45400TG2008PTC059493	NEERVI PROPERTIES PRIVATE LIMITED	Director	25/03/2009	25/03/2009	-	Active	NO
6	U51909TG1983PTC039619	HARTEX INTERNATIONAL PRIVATE LIMITED	Additional director	21/04/2009	21/04/2009	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Anita
Designation :	Receptionist

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2013

Names of Shareholders	No. of Shares
Bhishwambhar Dayal Sureka	32273
B. D. Sureka	11268
A. K. Sureka	39707
Annupama Sureka	16098
Prateek Sureka	19432
Varun Sureka	12658
Pradeep Kumar Sureka	75735
Bhishwambhar Dayal Sureka (HUF)	1
Arun kumar Sureka (HUF)	40
Namrata Sureka	5725
Kusum Khemani	1
Veena Goel	1
Pushpa Jaipuria	1
Park Chambers Limited , Kolkata, India	122515
Vedant sureka	6000
Nandita sureka	10
Total	341465

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2013

Category	Percentage
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 :

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

· Heavy Duty Premium Nylon

(Load trolleys, load bicycle and bicycle Taxi front and rear wheels)

· Heavy Duty 12 PR Nylon

(Load bicycle and bicycle Taxi front and rear tyres)

· 2 Ply Premium Nylon

(Bicycle Taxies and normal town bike )

· 2 Ply Semi Nylon

(Bicycle Taxies and normal town bike )

· Heavy Duty Cotton

(Load bicycle and bicycle Taxi front and rear wheels)

· Semi Cotton

(Normal Town Biking)

· Cycle Cotton

(Normal Town Biking)

· Mountain / All Terrain Bikes

(Off the road, country and town Biking)

· Small Sizes

(Children's  Bicycles)

· Tube Packing/Valves

Exports :

Products :

Tubes and Tyres

Countries :

· Kenya

· Uganda

Imports :

Products :

Tubes and Tyres

Countries :

· China

· Russia

Terms :

Selling :

Cash, LC and Credit (30 Days)

Purchasing :

Cash, LC and Credit (30 Days)

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

350 (Approximately)

Bankers :

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

· ICICI Bank

Facilities :

Secured Loan	As on 31.03.2013	As on 31.03.2012
	(Rs. In Millions)
SHORT TERM BORROWINGS:
Rupee term loans from banks	27.864	6.582
Foreign currency term loans from banks	0.000	63.675
Total	27.864	70.257

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

CAPITAL STRUCTURE

As on: 31.03.2013

Authorized 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	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	34.146	34.146	34.146
(b) Reserves & Surplus	737.943	603.075	483.456
(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)	772.089	637.221	517.602
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	64.299	2.148
(b) Deferred tax liabilities (Net)	1.095	0.000	7.054
(c) Other long term liabilities	6.767	8.529	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	7.862	72.828	9.202
(4) Current Liabilities
(a) Short term borrowings	27.864	70.257	97.874
(b) Trade payables	41.632	25.873	22.021
(c) Other current liabilities	203.857	234.353	199.668
(d) Short-term provisions	68.054	62.774	65.390
Total Current Liabilities (4)	341.407	393.257	384.953
TOTAL	1121.358	1103.306	911.757
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	111.931	67.660	66.327
(ii) Intangible Assets	3.400	5.900	8.700
(iii) Capital work-in-progress	45.351	11.896	0.179
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	46.330	46.329	7.204
(c) Deferred tax assets (net)	0.000	1.377	3.090
(d) Long-term Loan and Advances	200.514	111.538	126.608
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	407.526	244.700	212.108
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	177.648	216.281	195.849
(c) Trade receivables	343.534	427.231	284.260
(d) Cash and cash equivalents	83.636	98.884	88.726
(e) Short-term loans and advances	10.521	10.328	20.758
(f) Other current assets	98.493	105.882	110.056
Total Current Assets	713.832	858.606	699.649
TOTAL	1121.358	1103.306	911.757

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1804.333	1986.503
		Other Income	73.981	87.362
		TOTAL (A)	1878.314	2073.865	1661.390
Less	EXPENSES		1670.323 (Including Depreciation and Financial Expenses)	1887.050 (Including Depreciation and Financial Expenses)	1457.333
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				204.057
Less	FINANCIAL EXPENSES (D)				2.759
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				201.298
Less/ Add	DEPRECIATION/ AMORTISATION (F)				15.302
	PROFIT BEFORE TAX (E-F) (G)		207.991	186.815	185.996
Less	TAX (H)		70.527	64.600	65.104
	PROFIT AFTER TAX (G-H) (I)		137.464	122.215	120.892
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		496.629	374.414	253.522
	BALANCE CARRIED TO THE B/S		634.093	496.629	374.414
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	720.357	786.477	NA
	TOTAL EARNINGS		720.357	786.477	NA
	Earnings Per Share (Rs.)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	7.32	5.89	7.28
Net Profit Margin (PBT/Sales)	(%)	11.53	9.40	NA
Return on Total Assets (PBT/Total Assets}	(%)	20.20	17.90	20.64
Return on Investment (ROI) (PBT/Networth)		0.27	0.29	0.36
Debt Equity Ratio (Total Debt/Networth)		0.04	0.21	0.19
Current Ratio (Current Asset/Current Liability)		2.09	2.18	1.82

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	34.146	34.146	34.146
Reserves & Surplus	483.456	603.075	737.943
Net worth	517.602	637.221	772.089
long-term borrowings	2.148	64.299	0.000
Short term borrowings	97.874	70.257	27.864
Total borrowings	100.022	134.556	27.864
Debt/Equity ratio	0.193	0.211	0.036

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	1661.390	2073.865	1878.314
		24.827	(9.429)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	1661.390	2073.865	1878.314
Profit	120.892	122.215	137.464
	7.28%	5.89%	7.32%

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 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	No
18]	Major customers	No
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]	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 LOAN

Particulars	As on 31.03.2013	As on 31.03.2012
	(Rs. In Millions)
LONG TERM BORROWINGS:
Loans and advances from others	0.000	0.155
Loans and advances from directors	0.000	64.144
Total	0.000	64.299

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10004980	11/09/2008 *	254,900,000.00	BANK OF INDIA	P B. NO. 1549, MG ROAD, SECUNDERABAD BRANCH, SECUNDERABAD - 500003, ANDHRA PRADESH, INDIA	A48976815

· Land

· Building (Office and Factory)

· Plant and Machinery

· Moulds

· Furniture and Fixtures

· Office Equipment

· Vehicles

· Computers

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 judgment 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.60.43
UK Pound	1	Rs.97.25
Euro	1	Rs.77.93

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	RAS
Report Prepared by :	JAY

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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
--	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.