MIRA INFORM REPORT

Report No. :	316787
Report Date :	27.04.2015

IDENTIFICATION DETAILS

Name :	INDIA TYRE AND RUBBER COMPANY (INDIA) LIMITED

Registered Office :	Berger House, 129, Park Street, 5^th Floor, Kolkata – 700017, West Bengal
Tel No.:	91-33-22178775

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	17.06.1938

Com. Reg. No.:	21-150983

Capital Investment / Paid-up Capital :	Rs. 8.964 Million

CIN No.: [Company Identification No.]	U25190WB1938PLC150983

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer, trader and Exporter of Industrial Rubber products and Home Products

No. of Employees :	31 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 100000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The rating reflects company sound financial risk profile marked by low profit margin and also the borrowings recorded by the company are huge and increasing. However, trade relations are reported as fair. Business is active. Payments terms 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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

Name :	Mr. Sanjay Thakur
Designation :	Accountant
Contact No.:	91-9831788610
Date :	14.04.2015

LOCATIONS

Registered Office/ Factory :	Berger House, 129, Park Street, 5^th Floor, Kolkata – 700017, West Bengal, India
Tel. No.:	91-33-22178775
Mobile No.:	91-9831788610 (Mr. Sanjay Thakur)
Fax No.:	91-33-22267929
E-Mail :	ecare@itr.co.in sanjaythakur@itr.co.in
Website :	www.itr.co.in
Area :	2000 sq. ft.
Location :	Owned

DIRECTORS

As on 24.06.2014

Name :

Mr. Mahesh Chand Gupta

Designation :

Director

Address :

FE-202, Salt Lake City, 1^st Floor, Sector – III, Salt Lake, Kolkata – 700106, West Bengal, India

Date of Birth/Age :

02.12.1961

Date of Appointment :

01.12.2005

DIN No.:

00137642

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	U67120WB1997PTC084877	MTG HOLDINGS PRIVATE LIMITED	Director	02-04-2013	14-07-1997	-	Active	NO
2	U63011WB1998PLC088238	INDO WAGON ENGINEERING LIMITED	Director	05-10-2002	05-10-2002	-	Active	NO
3	U24239WB2003PTC096320	PAWAN HERBALS PRIVATE LIMITED	Director	21-08-2003	21-08-2003	-	Active	NO
4	U72900DL2000PTC105047	JESSOP INFOTECH PRIVATE LIMITED	Director	04-01-2004	04-01-2004	-	Active	NO
5	L51109WB1984PLC037804	RAGHAV INDUSTRIES LIMITED	Director	07-03-2005	07-03-2005	-	Under liquidation	NO
6	U65923WB1992PLC057315	STERLING CREDIT CAPITAL LTD	Director	06-04-2005	06-04-2005	-	Amalgamated	NO
7	U51909WB2002PTC095179	HILAND TRADERS PRIVATE LIMITED	Director	05-09-2005	05-09-2005	-	Active	NO
8	U51909WB2002PTC095176	BLESSINGS COMMERCIAL PRIVATE LIMITED	Director	05-09-2005	05-09-2005	-	Amalgamated	NO
9	U74899DL1994PTC058095	RUIA OVERSEAS PRIVATE LIMITED	Director	05-09-2005	05-09-2005	-	Amalgamated	NO
10	U70109WB2003PTC096768	SHALINI PROPERTIES & DEVELOPERS PRIVATE LIMITED	Director	07-10-2005	07-10-2005	-	Active	NO
11	U29230WB1997PTC084936	PALLAVI MANUFACTURERS PRIVATE LIMITED	Director	14-10-2005	14-10-2005	-	Active	NO
12	U15511WB1997PLC085133	PAYNEGANGA SUGARS & CHEMICALS LIMITED	Director	25-10-2005	25-10-2005	-	Active	NO
13	U55102WB1997PLC085132	SPR RESORTS LIMITED	Director	24-11-2005	24-11-2005	-	Active	NO
14	U25190WB1938PLC150983	INDIA TYRE & RUBBER COMPANY (INDIA) LIMITED	Director	01-12-2005	01-12-2005	-	Active	NO
15	U51909WB2002PTC095177	BORNEO TRADERS PRIVATE LIMITED	Director	28-08-2006	28-08-2006	-	Active	NO
16	U45201WB2005PLC095763	JESSOP SHIPYARD LIMITED	Director	31-01-2007	31-01-2007	-	Active	NO
17	U45400WB2008PTC124637	JESSOP PROPERTIES PRIVATE LIMITED	Director	31-03-2008	31-03-2008	-	Active	NO
18	U70102WB2008PTC124638	JESSOP INFRASTRUCTURE PRIVATE LIMITED	Director	31-03-2008	31-03-2008	-	Active	NO
19	U45400WB2008PTC124639	JESSOP ESTATE PRIVATE LIMITED	Director	31-03-2008	31-03-2008	-	Active	NO
20	U27100WB2008PLC128165	JESSOP WAGONS AND COACHES LIMITED	Director	01-08-2008	01-08-2008	-	Active	NO
21	U24139MH1986PTC041139	DUNLOP COMFORTS PRIVATE LIMITED	Director	21-01-2010	21-01-2010	-	Active	NO
22	U72200WB2010PTC154715	NBM INFOTECH PRIVATE LIMITED	Director	18-11-2010	18-11-2010	03-12-2012	Active	NO
23	U65923WB1992PLC057312	SURYAMANI FINANCING COMPANY LTD.	Director	17-06-2011	17-06-2011	05-06-2013	Active	NO
24	U74140WB1997PTC082837	VRISHAH SERVICES PRIVATE LIMITED	Director	26-09-2011	29-06-2011	09-02-2012	Active	NO
25	U92199MH1995PLC084948	MONOTONA TYRES LIMITED	Director	20-09-2013	16-08-2011	-	Active	NO

Name :

Mr. Ashok Kumar Goenka

Designation :

Director

Address :

73, Bangur Avenue, D Block, Kolkata – 700055, West Bengal, India

Date of Birth/Age :

18.03.1952

Date of Appointment :

12.07.2008

DIN No.:

00474447

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	U24299WB1994PTC062842	CHINSURAH CHEMICALS PRIVATE LIMITED	Director	31-03-1994	31-03-1994	-	Active	NO
2	U26914WB1961PTC025023	LILUAH CERAMICS PVT LIMITED	Director	24-08-1994	24-08-1994	-	Active	NO
3	U01132WB1992PTC054189	RUIA AGRO PRODUCTS PRIVATE LIMITED	Director	01-01-1997	01-01-1997	-	Active	NO
4	U55103WB1997PTC082539	METROPOLE HILLS HOTEL PRIVATE LIMITED	Director	07-01-1997	07-01-1997	-	Active	NO
5	U50101WB1997PLC084060	POWER CORPORATION OF INDIA LIMITED	Director	22-04-1997	22-04-1997	-	Amalgamated	NO
6	U74140WB1997PTC082837	VRISHAH SERVICES PRIVATE LIMITED	Additional director	27-10-1997	27-10-1997	19-07-2014	Active	NO
7	U70101WB1993PLC091492	SPICES VALLEY ESTATES LIMITED	Director	06-09-1999	06-09-1999	-	Active	NO
8	U67120DL1993PLC055219	SECURITIES BROKERS OF INDIA LIMITED	Director	17-11-2000	17-11-2000	-	Active	NO
9	U15511WB1997PLC085133	PAYNEGANGA SUGARS & CHEMICALS LIMITED	Director	06-05-2002	06-05-2002	-	Active	NO
10	U51909WB2002PTC095399	BALLARD COMMERCIALS PRIVATE LIMITED	Director	01-01-2003	01-01-2003	-	Active	NO
11	U51909WB2002PTC095404	EDINA MARKETING PRIVATE LIMITED	Director	01-01-2003	01-01-2003	-	Active	NO
12	U51909WB2002PTC095406	DEBLOK TRADERS PRIVATE LIMITED	Director	01-01-2003	01-01-2003	-	Active	NO
13	U65910WB1994PLC061909	SPR SUGAR & CHEMICALS LTD	Director	20-01-2003	20-01-2003	-	Amalgamated	NO
14	U40101WB1997PLC084111	BHARAT VIDYUT CO LIMITED	Director	13-02-2003	13-02-2003	-	Amalgamated	NO
15	U24239WB2003PTC096320	PAWAN HERBALS PRIVATE LIMITED	Director	04-06-2003	04-06-2003	-	Active	NO
16	U15429WB2003PTC096401	RUIA IRON & STEEL CO. PRIVATE LIMITED	Director	17-06-2003	17-06-2003	-	Amalgamated	NO
17	U65923WB1992PLC057312	SURYAMANI FINANCING COMPANY LTD.	Director	26-03-2005	26-03-2005	-	Active	NO
18	U51909WB2003PTC096776	MUDRIKA COMMERCIALS PRIVATE LIMITED	Director	06-04-2005	06-04-2005	-	Active	NO
19	U65923WB1992PLC057315	STERLING CREDIT CAPITAL LTD	Director	06-04-2005	06-04-2005	-	Amalgamated	NO
20	U63011WB1998PLC088238	INDO WAGON ENGINEERING LIMITED	Director	06-04-2005	06-04-2005	-	Active	NO
21	U92114WB2004PTC100036	OUR FILMS PRODUCTIONS PRIVATE LIMITED	Director	07-04-2005	07-04-2005	-	Amalgamated	NO
22	U51909WB2002PTC095179	HILAND TRADERS PRIVATE LIMITED	Director	05-09-2005	05-09-2005	-	Active	NO
23	U51909WB2002PTC095176	BLESSINGS COMMERCIAL PRIVATE LIMITED	Director	05-09-2005	05-09-2005	-	Amalgamated	NO
24	U74899DL1994PTC058095	RUIA OVERSEAS PRIVATE LIMITED	Director	05-09-2005	05-09-2005	-	Amalgamated	NO
25	U70109WB2003PTC096768	SHALINI PROPERTIES & DEVELOPERS PRIVATE LIMITED	Director	07-10-2005	07-10-2005	05-06-2013	Active	NO
26	U55102WB1997PLC085132	SPR RESORTS LIMITED	Director	24-11-2005	24-11-2005	-	Active	NO
27	U27104OR2002PLC006759	HIRAKUD ROLLING MILL LIMITED	Director	08-01-2006	08-01-2006	23-06-2011	Active	NO
28	U45201OR1993PLC003239	HIRAKUD INDUSTRIAL WORKS LTD	Director	10-07-2006	10-07-2006	23-06-2011	Active	NO
29	U51909WB2002PTC095177	BORNEO TRADERS PRIVATE LIMITED	Director	28-08-2006	28-08-2006	-	Active	NO
30	L51109WB1984PLC037804	RAGHAV INDUSTRIES LIMITED	Director	01-11-2007	01-11-2007	-	Under liquidation	NO
31	U51909WB2002PTC095402	ANOUSH TRADERS PRIVATE LIMITED	Director	18-02-2008	18-02-2008	-	Active	NO
32	U65910WB1994PTC061907	RUIA GLOBAL NIVESH PRIVATE LIMITED	Director	18-02-2008	18-02-2008	-	Active	NO
33	U31909WB2008PTC127433	SCHLEGEL AUTOMOTIVE INDIA PRIVATE LIMITED	Director	12-07-2008	12-07-2008	-	Active	NO
34	U25190WB1938PLC150983	INDIA TYRE & RUBBER COMPANY (INDIA) LIMITED	Director	12-07-2008	12-07-2008	-	Active	NO
35	U45400WB2008PTC122397	WALKER PROPERTIES PRIVATE LIMITED	Additional director	20-09-2008	20-09-2008	-	Active	NO
36	U40101WB1997PLC085128	GLOBE SUGAR REFINERY LIMITED	Additional director	19-02-2009	19-02-2009	-	Active	NO
37	U45400WB2008PTC122387	SAGARIKA PROPERTIES PRIVATE LIMITED	Director	14-01-2010	14-01-2010	-	Active	NO
38	U24139MH1986PTC041139	DUNLOP COMFORTS PRIVATE LIMITED	Director	21-01-2010	21-01-2010	-	Active	NO
39	U45400WB2008PTC122388	APARUPA PPROPERTIES PRIVATE LIMITED	Director	08-02-2010	08-02-2010	-	Active	NO
40	U65993WB1997PTC082478	ZIPCO INDUSTRIAL FINANCE PRIVATE LIMITED	Director	05-05-2010	05-05-2010	-	Active	NO
41	U51909WB1996PTC080649	SUBHRA MARKETING PRIVATE LIMITED	Director	05-05-2010	05-05-2010	-	Active	NO
42	U51909DL2003PTC119647	KANTI COMMERCIALS PRIVATE LIMITED	Director	24-05-2010	24-05-2010	-	Active	NO
43	U25112WB2007PLC117750	DUNLOP RUBBERS LIMITED	Director	10-12-2010	10-12-2010	-	Active	NO
44	U25111HP2010PTC031506	DUNLOP AUTO TYRES PRIVATE LIMITED	Director	28-03-2011	28-03-2011	-	Active	NO
45	U45400WB2008PTC122396	SATARUPA PROPERTIES PRIVATE LIMITED	Director	21-07-2011	21-07-2011	-	Active	NO
46	U85110WB1993NPL059163	RUIA HOSPITAL & EDUCATIONAL RESEARCH INSTITUTION	Director	31-10-2011	31-10-2011	-	Active	NO
47	U25199KA2003PTC032070	DUNLOP POLYMERS PRIVATE LIMITED	Director	25-02-2014	25-02-2014	-	Active	NO

Name :

Mr. Amit Kumar Joshi

Designation :

Director

Address :

114 C.R. Avenue, Kolkata – 700073, West Bengal, India

Date of Birth/Age :

01.07.1971

Date of Appointment :

17.06.2011

DIN No.:

01594152

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	U50101WB1997PLC084060	POWER CORPORATION OF INDIA LIMITED	Director	10/04/07	10/04/07	-	Amalgamated	NO
2	U45201OR1993PLC003239	HIRAKUD INDUSTRIAL WORKS LTD	Additional director	20/04/07	20/04/07	23/06/11	Active	NO
3	U63011WB1998PLC088238	INDO WAGON ENGINEERING LIMITED	Director	01/11/07	01/11/07	-	Active	NO
4	U65923WB1992PLC057312	SURYAMANI FINANCING COMPANY LTD.	Director	01/11/07	01/11/07	-	Active	NO
5	L51109WB1984PLC037804	RAGHAV INDUSTRIES LIMITED	Whole-time director	17/10/08	01/11/07	-	Under liquidation	NO
6	U92114WB2004PTC100036	OUR FILMS PRODUCTIONS PRIVATE LIMITED	Director	07/12/07	07/12/07	-	Amalgamated	NO
7	L51109WB1982PLC035428	SUKARAM MARKETING LTD	Director	07/12/07	07/12/07	23/06/10	Active	NO
8	U51109WB1984PLC037566	RUIA MARKETING LTD.	Additional director	17/12/07	17/12/07	-	Active	NO
9	U51909WB2003PTC096776	MUDRIKA COMMERCIALS PRIVATE LIMITED	Additional director	17/12/07	17/12/07	-	Active	NO
10	U67120DL1993PLC055219	SECURITIES BROKERS OF INDIA LIMITED	Additional director	18/12/07	18/12/07	-	Active	NO
11	U51909WB2002PTC095402	ANOUSH TRADERS PRIVATE LIMITED	Director	18/02/08	18/02/08	-	Active	NO
12	U65910WB1994PTC061907	RUIA GLOBAL NIVESH PRIVATE LIMITED	Director	18/02/08	18/02/08	-	Active	NO
13	U55101WB1997PLC084156	BHARTIYA HOTELS LIMITED	Director	27/07/09	01/07/08	-	Active	NO
14	U45200WB2007PTC113663	DUNLOP PROPERTIES PRIVATE LIMITED	Director	27/07/09	01/07/08	-	Active	NO
15	U85110WB1993NPL059163	RUIA HOSPITAL & EDUCATIONAL RESEARCH INSTITUTION	Additional director	18/08/08	18/08/08	-	Active	NO
16	U45400WB2008PTC122397	WALKER PROPERTIES PRIVATE LIMITED	Additional director	20/09/08	20/09/08	-	Active	NO
17	U31909WB2008PTC127433	SCHLEGEL AUTOMOTIVE INDIA PRIVATE LIMITED	Director	17/10/08	17/10/08	-	Active	NO
18	U45400WB2008PTC122396	SATARUPA PROPERTIES PRIVATE LIMITED	Additional director	10/11/08	10/11/08	-	Active	NO
19	U70101WB1993PLC091492	SPICES VALLEY ESTATES LIMITED	Director	06/01/09	06/01/09	-	Active	NO
20	U01132WB1992PTC054189	RUIA AGRO PRODUCTS PRIVATE LIMITED	Director	06/01/09	06/01/09	-	Active	NO
21	U55101WB1997PTC084157	ALPHA AIRWAYS PRIVATE LIMITED	Director	30/12/09	30/12/09	-	Active	NO
22	U27104OR2002PLC006759	HIRAKUD ROLLING MILL LIMITED	Additional director	30/03/10	30/03/10	23/06/11	Active	NO
23	U51909WB1996PTC080649	SUBHRA MARKETING PRIVATE LIMITED	Director	05/05/10	05/05/10	-	Active	NO
24	U51909DL2003PTC119647	KANTI COMMERCIALS PRIVATE LIMITED	Director	24/05/10	24/05/10	-	Active	NO
25	U40101WB1997PLC085128	GLOBE SUGAR REFINERY LIMITED	Additional director	13/12/10	13/12/10	-	Active	NO
26	U25190WB1938PLC150983	INDIA TYRE & RUBBER COMPANY (INDIA) LIMITED	Director	17/06/11	17/06/11	-	Active	NO
27	U45400WB2008PTC122387	SAGARIKA PROPERTIES PRIVATE LIMITED	Director	20/06/11	20/06/11	-	Active	NO
28	U45400WB2008PTC122388	APARUPA PPROPERTIES PRIVATE LIMITED	Director	20/06/11	20/06/11	-	Active	NO
29	U74140WB1997PTC082837	VRISHAH SERVICES PRIVATE LIMITED	Director	26/09/11	29/06/11	19/07/14	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjay Thakur
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.06.2014

Names of Shareholders	No. of Shares
Anup Agarwal	20
Amitrajit Das	40
Bed Prakash Basu	20
Kishori Lal Gupta	20
Bazul Mohi Ali Reza	20
Kausshlaya Devi Gupta	20
Aleyamma Thomas	20
Thottacattu Chacko Thomas	20
Keshar Devi Dhamani	20
Sarita Bedi	20
Hemraj Kothari	20
Jahar Lal Kar	20
Amal Kumar Dey	20
Sudipta Addy	20
Ashok Ghosh	20
N. Pinchumani	20
Suryamani Financing Company Limited	894420

Equity Share Break up (Percentage of Total Equity)

As on 24.06.2014

Category	Percentage
Bodies corporate	99.77
Other top fifty shareholders	0.23
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, trader and Exporter of Industrial Rubber products and Home Products

Products :	All Synthetic Conveyor Belting Nylon Fabric Conveyor Belt Synthetic Conveyor Belt Polyester Conveyor Belt Cushy Foot Mountings Double – U Shear Rectangular Sandwich Mounting Metacone Mounting Two – Bolt Instrumenting Equi – Frequency Mountings Heavy Duty Air / Water Hoses Petrol / Oil Hoses Food and Beverage Hoses Hydraulic Hoses Pneumatic Hoses Steam Hoses Polyester Cords Vee Belt

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Nylon Fabric Conveyor Belt Synthetic Conveyor Belt Polyester Conveyor Belt Cushy Foot Mountings Double – U Shear Rectangular Sandwich Mounting
Countries :	Malaysia Bangladesh China

Imports :	Not Divulged

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Tandon Private Limited – Himachal Pradesh
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesalers and End Users

Reference :	Ashirwad associates - Kolkata
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

31 (Approximately)

Bankers :

HDFC Bank, Kolkata, West Bengal, India
Axis Bank, Park Street Branch, Kolkata, West Bengal, India
Karur Vysya Bank

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Car Loan from Volkswagen Finance Private Limited (Secured by hypothecation of car)	0.010	0.000
Term Loan From ICICI Home Finance Company Limited	0.016	0.019
Short-term borrowings
Car Loan from Volkswagen Finance Private Limited (Secured by hypothecation of car)	0.002	0.000
Term Loan From ICICI Home Finance Company Limited	0.003	0.003
Bank Overdraft From HDFC Bank Limited and Karur Vysya Bank (Secured by Lien on Fixed Deposits)	0.012	0.010
Total	0.043	0.032


Banking Relations :	---

Financial Institutions :	Global trade finance limited - 6th floor, metropolitan building, Bandra-kurla, complex, Bandra (East), Mumbai - 400051, Maharashtra, India

Auditors :
Name :	Ford Rhodes Parks and Company, Chartered Accountant
Address :	No.238, 2^nd Floor, Karnani Mansion, 25A, Park Street, Kolkata – 700016, West Bengal, India
Tel. No.:	91-33-22650171/ 172/ 173
Fax No.:	91-33-22650172
E-Mail :	frpcal@vsnl.net
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFF1843L

Memberships :	Not Available

Collaborators :	Not Available

Related Party :	Dunlop Comforts Private Limited CIN NO: U24139MH1986PTC041139

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

2,500,000	Equity Shares	Rs.10/- each	Rs.25.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

896,440	Equity Shares	Rs.10/- each	Rs. 8.964 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	8.964	8.964	8.964
(b) Reserves & Surplus	28.559	28.584	27.771
(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)	37.523	37.548	36.735

(3) Non-Current Liabilities
(a) long-term borrowings	26.098	19.408	22.545
(b) Deferred tax liabilities (Net)	1.278	0.824	0.734
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.478	0.729	0.316
Total Non-current Liabilities (3)	27.854	20.961	23.595

(4) Current Liabilities
(a) Short term borrowings	17.568	13.043	17.681
(b) Trade payables	58.114	34.949	43.331
(c) Other current liabilities	36.859	25.761	13.744
(d) Short-term provisions	0.960	0.529	0.524
Total Current Liabilities (4)	113.501	74.282	75.280

TOTAL	178.878	132.791	135.610

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	41.691	28.924	20.733
(ii) Intangible Assets	0.000	0.000	0.000
(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	29.533	29.533	29.533
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	10.200
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	71.224	58.457	60.466

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5.768	2.670	3.756
(c) Trade receivables	35.915	29.594	33.600
(d) Cash and cash equivalents	22.634	18.267	18.821
(e) Short-term loans and advances	41.331	21.577	16.438
(f) Other current assets	2.006	2.226	2.529
Total Current Assets	107.654	74.334	75.144

TOTAL	178.878	132.791	135.610

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	429.488	476.602	432.571
	Other Income	5.999	5.744	5.372
	TOTAL (A)	435.487	482.346	437.943

Less	EXPENSES
	Cost of Materials Consumed	365.766	409.555	373.180
	Purchases of Stock-in-Trade	0.056	0.056	0.056
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.507	0.529	0.585
	Employees benefits expense	30.376	25.737	17.523
	Other expenses	30.496	38.725	37.699
	TOTAL (B)	427.201	474.602	429.043

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	8.286	7.744	8.900

Less	FINANCIAL EXPENSES (D)	4.186	3.876	5.380

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	4.100	3.868	3.520

Less/ Add	DEPRECIATION/ AMORTISATION (F)	2.892	1.936	2.002

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	1.208	1.932	1.518

Less	TAX (H)	0.709	0.598	0.320

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	0.499	1.334	1.198

	Earnings / (Loss) Per Share (Rs.)	0.56	1.49	1.34

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.12	0.28	0.28

Operating Profit Margin (PBIDT/Sales)	(%)	1.93	1.62	2.06

Return on Total Assets (PBT/Total Assets}	(%)	0.81	1.87	1.43

Return on Investment (ROI) (PBT/Networth)		0.03	0.05	0.04

Debt Equity Ratio (Total Debt /Networth)		1.16	0.86	1.10

Current Ratio (Current Asset/Current Liability)		0.95	1.00	1.00

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	8.964	8.964	8.964
Reserves & Surplus	27.771	28.584	28.559
Net worth	36.735	37.548	37.523

long-term borrowings	22.545	19.408	26.098
Short term borrowings	17.681	13.043	17.568
Total borrowings	40.226	32.451	43.666
Debt/Equity ratio	1.095	0.864	1.164

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	432.571	476.602	429.488
		10.179	(9.885)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	432.571	476.602	429.488
Profit	1.198	1.334	0.499
	0.28%	0.28%	0.12%

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	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	Yes
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]	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

NOTE: Registered office of the company has been shifted from “Dunlop House” 132-A, Dr. Annie Besant Road, Worli, Mumbai- 400018, Maharashtra, India to the present address w.e.f. 14.06.2010

REVIEW OF OPERATIONS:

The Turnover and other Income of the Company were lower at Rs. 435.500 Million as against Rs. 482.400 Million in the previous year. Net profit for the Year is also lower at Rs. 0.500 Million as against Rs. 1.300 Million in the previous year.

The Company’s business in Industrial Rubber Products like Houses. Vee –belts, and Conveyor belts had affected adversely during the year due to sluggish demand and very tough competition from the manufacturing sector. However the Company expects that with gradual improvement in the economic conditions, the demand from the Industrial sector will improve and barring unforeseen circumstances the Company should be able to report results in the Current year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10094440	14/03/2008	75,000,000.00	GLOBAL TRADE FINANCE LIMITED	6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX, BANDRA(EAST), MUMBAI, Maharashtra - 400051, INDIA	A35149426

FIXED ASSETS

Plant and Machinery
Moulds
Furniture and fixtures
Office Equipment’s
Computer and Printer
Motor Car
Air Condition

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.

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.63.40
UK Pound	1	Rs.95.42
Euro	1	Rs.68.49

INFORMATION DETAILS

Information Gathered by :	RKA

Analysis Done by :	DIV

Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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

INDEX OF CHARGES

Unit