Modi Rubber Limited

Sector:Tyres Tyres - TyresBSE:890 NSE:MODIRUBBER

Bloomberg:MDR@IN Reuters:MODI.BO Market Lot: 1 Face Value:
10 ISIN Demat: INE832A01018
Business Profile
Modi Rubber (MODIRUBB) incorporated on Feb. 27, 1971, is engaged in the
manufacture of the Modi Continental brand of tires. After the Modi group split in 1979, it
has become a part of the K.K. Modi group of companies which spans a diverse range of
businesses including agro-chemicals, tobacco, education, entertainment, tea and
beverages, direct selling, network marketing, gourmet restaurants, steel, sugar, textiles,
chemicals, tires, computers, copiers, cosmetics, telecommunications, entertainment,
pharmaceuticals, homecare, and online lottery. Group companies include Godfrey
Phillips India, Modi Tele Fibres, Modi Apollo International Institute, Men (Modi
Entertainment Network), Fashion TV India, International Institute Of Fine Arts (IIFA),
Sunshine India Lottery, Indofil Chemicals Company, Beacon Travels Private, Modicare,
Modi Hoover International, Modi Healthcare Placements India, Royal Airways, Pizza
Express, Uniglobe Travel (South Asia), Uniglobe Mod Tours & Travels, Sampatti.com,
Modiguard, and The Geographical Company.

Operations at the company`s plants at Modipuram and Modinagar in Uttar Pradesh and
Partapur in Rajasthan remain suspended since August 2001. Several centers of the nearly
66 sales and service centers all over India have been closed. The company is trying to
restructure activities for revival.

Declared as a sick company by the Board for Industrial & Financial Reconstruction
(BIFR) on May 17, 2006. A comprehensive rehabilitation scheme for revival was
submitted the appointed operating agency to the BIFR, which vide its order dated Apr.
21, 2008 sanctioned it for implementation.

The registered office is at Modinagar, Ghaziabad-201204, Uttar Pradesh.

Modi Rubber Limited (MRL) is an India-based company. The Company is engaged in the
manufacture of automobile tyres, tubes and flaps. Its subsidiaries include Superior
Investment (India) Limited, Spin Investment (India) Limited and Modi Tyres Company
Pvt Ltd.

Modi Rubber Ltd.

Modi Nagar
Ghaziabad 201 204, Uttar Pradesh
India
Tel: 91/11 6434544
URL: NA

Modi Tyre revives JV with German co.

Brief Financials (in Rs. Mn.) Detailed Quarterly

Period ending (months) 30-Sep-2000 (12) 30-Sep-1999 (12) 30-Sep-1998 (12)
Net sales 6259.72 7413.19 6656.52
Other Income 108.38 69.14 83.88
Total Income 6368.10 7482.33 6740.41
Cost of goods sold 6334.24 6905.95 6240.60
OPBDIT 33.86 576.38 499.81
PAT -430.52 88.29 -28.60
Gross Block 2733.04 2709.27 2607.02
Equity capital 250.41 250.41 250.41
EPS (Rs.) -17.19 3.53 -1.14
DPS (Rs.) 0.00 0.55 0.00
BV (Rs.) 43.27 60.17 56.54
P/E range (x) NA 5.10 - 31.98 NA
Debt / Equity (x) 1.36 1.03 1.29
Operating margin (% of OI) 0.5 7.7 7.4
Net margin (% of OI) -6.8 1.2 -0.4
Detailed Financial
Latest Quarterly/Halfyearly
Detailed Quarterly
As On(Months) 31-Mar-2010(3) 31-Mar-2009(3) % Change
Sales of Products/Services 76.04 0.00 --
Other Income -47.33 172.37 NM
Total Income 28.72 172.37 -83.34
Total Expenses 58.93 17.09 244.82
OPBDIT -30.21 155.28 NM
Interest 0.00 5.00 --
Depreciation 4.99 6.86 -27.26
Exceptional & Extraordinary Items 0.00 0.00 --
Prior Period Adjustments 0.00 0.00 --
Provision for Tax 0.15 0.00 --
After Tax Profit -35.35 143.41 NM
Equity Capital 250.41 250.41 0.00
Reserves 0.00 0.00 --
Notes to Accounts Click here Click here Click here
Income Statement
31-Mar- 31-Mar-
09(12) 08(12)
Profit / Loss A/C Rs mn %OI Rs mn %OI
Net Sales (OI) 17.25 99.97 0.00 --
 Material Cost 0.00 0.00 0.00 --
Increase Decrease Inventories 13.63 79.04 0.00 --
Personnel Expenses 7.46 43.24 9.96 --
Manufacturing Expenses 0.00 0.00 0.00 --
Gross Profit -3.85 -22.32 -9.96 --
Administration Selling and Distribution
54.33 314.95 242.70 --
Expenses
EBITDA -58.18 -337.28 -252.66 --
Depreciation Depletion and Amortisation 21.18 122.80 53.35 --
EBIT -79.36 -460.06 -306.01 --
Interest Expense 40.25 233.32 51.88 --
Other Income 411.22 2383.87 1865.16 --
Pretax Income 291.61 1690.49 1507.27 --
Provision for Tax 1.05 6.09 1.22 --
Extra Ordinary and Prior Period Items Net 0.00 0.00 0.00 --
Net Profit 290.56 1684.41 1506.06 --
Adjusted Net Profit 290.56 1684.41 1506.06 --
Dividend - Preference 0.00 0.00 0.00 --
Dividend - Equity 0.00 0.00 0.00 --
Balance Sheet
31-Mar-09 %BT 31-Mar-08 %BT
Equity Capital 250.41 12.03 250.41 11.31
Preference Capital 0.00 0.00 0.00 0.00
Share Capital 250.41 12.03 250.41 11.31
Reserves and Surplus 580.16 27.88 583.06 26.34
Loan Funds 725.87 34.88 682.03 30.81
Current Liabilities 419.90 20.18 637.55 28.80
Provisions 34.94 1.68 60.85 2.75
Current Liabilities and Provisions 454.84 21.85 698.40 31.55
Total Liabilities and Stockholders Equity (BT) 2081.27 100.00 2213.89 100.00
Tangible Assets Net 190.82 9.17 215.04 9.71
Intangible Assets Net 0.01 0.00 0.01 0.00
Net Block 190.82 9.17 215.05 9.71
Capital Work In Progress Net 0.00 0.00 0.00 0.00
Fixed Assets 190.82 9.17 215.05 9.71
Investments 986.95 47.42 967.48 43.70
 Inventories 176.02 8.46 107.40 4.85
Accounts Receivable 0.00 0.00 6.49 0.29
Cash and Cash Equivalents 98.97 4.76 113.33 5.12
Other Current Assets 0.00 0.00 0.00 0.00
Current Assets 274.99 13.21 227.21 10.26
Loans & Advances 341.86 16.43 224.04 10.12
Miscellaneous Expenditure Other Assets 286.65 13.77 580.11 26.20
Total Assets (BT) 2081.27 100.00 2213.89 100.00

Ratio Analysis
As on 31-Mar-09 31-Mar-08

Return Related
Return on Total Assets (%) -4.90 -20.20
Return on Networth (%) 32.30 180.70
Return on Capital Employed (%) 18.50 6.50

Profitability
Gross Margin (%) -22.30 --
Operating Margin (%) -460.20 --
Net Profit Margin (%) 1684.90 --
Adjusted Net Profit Margin (%) 1684.90 --
Asset Turnover(x) -- --

Leverage
Debt/Equity ratio (x) 0.80 0.80
Total Debt/Total Assets (x) 0.40 0.40
Long term Debt/Networth (x) 0.80 0.80
Interest Coverage (x) -1.40 -4.90

Liquidity
Current Ratio (x) 1.00 0.80
Quick Ratio (x) 0.20 0.20
Cash Ratio (x) 0.20 0.20

Working Capital
Working Capital to Sales (x) -8.40 --
Working Capital Days (days gross sales) -2747.90 --
Receivables (days gross sales) -- --
Creditors (days cost of sales) 4013.00 11284.80
FG Inventory (days cost of sales) 504.70 2878.50
RM Inventory (days consumption) -- --

Cash Flow Indicator

Operating Cash Flow/Sales (%) -1586.70 --

Per Share
Book Value Per Share (Rs) 21.70 10.10
Earnings Per Share (Rs) 11.60 60.10
Dividend Per Share (Rs) -- --

Growth(%)
Total Operating Income -- --
EBITDA -76.97 --
EBIT -74.07 --
Net Profit -80.71 --
Total Assets 7.32 --

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 Modi Group is one of the leading group of industries
in India. They have collaborations with the most
successful multinationals in a diverse range of
activities.

site by Synapse Communications

OverviewBoard of DirectorsCommittees

KEY EXECUTIVES FOR Modi Rubber Limited*

Name Board Relationships Title Age
Chairman, Managing Director, Chairman of
Vinay Kumar
24 RelationshipsShareholders/Investors Grievance Committee --
Modi
and Member of Audit Committee
Kamal Gupta No Relationships Head of Finance & Accounts --
Sanjeev Kumar Head of Legal, Company Secretary and
9 Relationships --
Bajpai Director
Sudesh Compliance Officer and Deputy Company
No Relationships --
Bhardwaj Secretary
Name Board Relationships Title Age
Krishan
No Relationships General Manager of Finance & Accounts --
Bhagwan Gupta
View More Key Executives

Modi Rubber Limited BOARD OF DIRECTORS*

Name Board Relationships Primary Company Age
Vinay Kumar
24 RelationshipsModi Rubber Limited --
Modi
Sanjeev Kumar
9 Relationships Modi Rubber Limited --
Bajpai
K. S. Bains 9 Relationships Modi Rubber Limited 75
Sanjeev Kumar
9 Relationships Modi Rubber Limited --
Chanana
P. R. Khanna 39 RelationshipsDCM Shriram Industries Ltd. 77
View All Board Members

Modi Rubber Limited EXECUTIVE COMMITTEES*

Committee Name Chairperson Board Relationships Members
3
Audit Committee K. S. Bains 9 Relationships
Executives
Corporate Governance 1
Vinay Kumar Modi 24 Relationships
Committee Executives

Board of directors

Modi Rubber Limited INSIDERS ON BOARD OF DIRECTORS

Name
Relationships Title Age
(Connections)
Chairman, Managing Director, Chairman of
Vinay Modi 24 RelationshipsShareholders/Investors Grievance Committee --
and Member of Audit Committee
Head of Legal, Company Secretary and
Sanjeev Bajpai 9 Relationships --
Director

Other Board Members on Board of Directors

Name
Relationships Primary Company Age
(Connections)
K. Bains 9 Relationships Modi Rubber Limited 75
Sanjeev
9 Relationships Modi Rubber Limited --
Chanana
P. Khanna 39 RelationshipsDCM Shriram Industries Ltd. 77
 Name
Relationships Primary Company Age
(Connections)
Chandan
9 Relationships Modi Rubber Limited --
Bhattacharya
Alok Modi 9 Relationships Modi Rubber Limited --
Arvind Seth 9 Relationships Modi Rubber Limited --
Sanjiwan Sahni 9 Relationships Modi Rubber Limited --
Neeraj Sharma 9 Relationships Modi Rubber Limited --
http://investing.businessweek.com/research/stocks/private/board.asp?
privcapId=20411480

www.modigroup.net/modityre

Find our Network Partners :

Madhya Pradesh
nasrulla ganj mp Select City
badnagar
baghwar (m.p) indore
betul
Our Dealers Our Clearing And Forwarding Agents :
bhind arihant tyre sales j.sons corporation/ neptune corporation
bhopal 131 transport nagarindore 131 transport nagar 425, amitesh nagar, ist floor, agra-mumbai
damoh indore road, near choithram hospital junction,
dewas indore
dhamnod arun tyres pvt.ltd. Email : indore.mp02@cfa.mtcpl.in
gwalior 2 kibe compound Phone : 9926304455/9993748975.
hanumana indore
hosanga bad
indore capital tyres
305,ring road For Sales Enquiry:
itarsi
indore vishal verma
jabalpur Mobile : +91 9826927901
katni Email : vverma@mtcpl.in
chopra tyre agencies
khandwa 1/2,south tukiganj
maihar indore
mandala .m.p. For Service Enquiry:
mandideep everest tyres nitin agrawal
morena opp.diamond petrol pump dewas naka Mobile : +91 9300307170
ratlam indore Email : nagarwal@mtcpl.in
rewa Phone : 9893008400
sagar
satna hans tyres
sendhwa 16/6,chhoti gwaltoli,indore
indore
seoni
shivpuri harsh tyre house
sidhi 43,chhoti gwal toli
singrauli indore
tikamgarh (m.p.)
ujjain highway tyres
vidisha opp h.p.petrol pump
indore

kwality associates
125 transport nagarindore 125 transport nagar
indore

madhya pradesh tyre company

thanewala terrace,163 rnt marg
indore
 Phone : 9415361339

malwa tyre sales and service

123,chhoti gwaltoli,indore
indore

modi trading corporation

16/6,chhoti gwaltoli,indore
indore
Phone : 08172-268808

new malwa tyre sales & service

31/1 sneh nagar
indore

new vishwas tyres

145, transport nagar
indore
Phone : 9827013782

preet tyres
241,transport nagar,indore
indore

sooraj tyre house

225, r.n.t.marg
indore

tyre plex
16/6, sardar patel margindore 16/6, sardar patel
marg
indore

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