MIRA INFORM REPORT

Report Date :

2^nd June 2006

IDENTIFICATION DETAILS

Name :	GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED
Registered Office :	D-31/1, Sardar Estate, Ajwa Road, Baroda – 390 019, Gujarat, India
Country :	India
Financials (as on) :	31.03.2005
Date of Incorporation :	8^th December 1998
Com. Reg. No.:	04-35087
CIN No.: [Company Identification No.]	U26109GJ1998PTC035087
TAN No.: [Tax Deduction & Collection Account No.]	BRDG00259A
PAN No.: [Permanent Account No.]	AAACG8590N
Legal Form :	Private limited liability company.
Line of Business :	Subject is engaged in manufacturing and dealing of Scientific and Laboratory Glassware for use in Chemical, Pharmaceutical Companies and also Borosilicate Flask, Heat Exchanger and Pipeline Components. Subject is also engaged as manufacturer of Industrial Glass Equipments and Laboratory Glassware.

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	USD 50000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is a well-established company having satisfactory track. Directors are reported as experienced, respectable and having satisfactory track records. Their trade relations are reported as fair. Financial position is satisfactory. Payments are reported as slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions.

LOCATIONS

Registered Office/ Head Office :	D-31/1, Sardar Estate, Ajwa Road, Baroda – 390 019, Gujarat, India
Tel. No.:	91-265-2561595/3291356
Fax No.:	91-265-2561482/2511428
E-Mail :	sales@goelscientific.com info@goelscientific.com
Website :	http://www.goelscientific.com
Area :	4500 sq. ft.
Location :	Leased
Overseas Office :	Europe Mr. Ash Bhayana4, Chartsworth Road, Hayes, London UB4 9ES
Tel. No.:	44-2035722720
Mobile No.:	44-7951956797
E-Mail :	salesUK@goeoscientific.com
Website :	http://www.goelscientific.com
Factory 1 :	D-5/A, Sardar Estate, Ajwa Road, Baroda – 390 019, Gujarat
Area :	4500 sq. ft.
Location :	Leased
Factory 2 :	D-35/C, Sardar Estate, Ajwa Road, Baroda – 390 019, Gujarat
Area :	5000 sq. ft.
Location :	Leased
Branches :	6, Jagdish Bhavan No. 2, 2^nd Floor, Koldongri, Sahar Road, Andheri (East), Mumbai – 400 069, Maharashtra, India
Tel. No.:	91-22-26823455
Fax No.:	91-22-26844704
E-Mail :	geolproc_bom@vsnl.net

DIRECTORS

Name :	Mr. Hemant Haricharan Goel
Designation :	Chairman
Address :	301, Heritage – III, Near EME Temple, Sama Road, Baroda – 390 008, Gujarat
Date of Birth/Age :	18.07.1952
Date of Appointment :	08.12.1998
Name :	Sunita Hemant Goel
Designation :	Director
Address :	201 Heritage – III, Near EME Temple, Sama Road, Baroda – 390 008, Gujarat
Date of Appointment :	01/01/2005

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
Mr. Hemant R. Goel – CMD	267000
Mrs. Babita K. Goel –Director	20600
Mrs. Sunita H. Goel	25000
Goel and Jain Technochem Private Limited	10
Shanblal Maneklal Shah	10
Hiralal Keshavlal Shah	10
Kanchanlal Chhotalal Shah	10
Manjulaben Hasmukhlal Patel	10
Amitendu Gupta	10
Anil Pyarelal Garg	10
Arvind Ramabhai Gohil	10
Sanjay Babulal Bhavsar	10
Chatanya Ganpatrav Bharekar	10
Chandrakant Sahyabhai Shah	10
Ketan Devendra Shah	10
Niteshkumar Chunibhai Waghela	10
Nikhelenduray Subir Chaudhary	10
Alpaben Pravenbhai Patel	10
Ramesh Jayantibhai Macchi	10
Suresh Chandubhai Macchi	10
Mariyana Samuel	10
Nayan D. Shah	10
Sanjay R Shah	10
Nova Leasing private Limited	10
Savitridevi H. Goel	80000
Suchitra G. Shah	37000
Ritesh K Bansal	20000
Priteshkumar A Patel	10
Hamanbhai M. Patel	10
Anilaben A Methiya	10
Kumudechnra B. Pandya	10
Smt. Mamtaben S. Patel	10
Anuraben S. Biswas	10
Gopal R. Shah	10
Jitendra A Patel	10
Shukla A Gupta	10
Pannaben V. Shah	10
Tarlika P. Shah	10
Kamal H Goel	10
Asha Gulati	10
Dhamendra R Patel	10
Thakor H Patel	10
Rajendra M. Parmar	10
Ramesh J Patel	10
Maganbhai B. Patel	10
Gajendrakumar Jain	10
Total	450000

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacturing and dealing of Scientific and Laboratory Glassware for use in Chemical, Pharmaceutical Companies and also Borosilicate Flask, Heat Exchanger and Pipeline Components.

Subject is also engaged as manufacturer of Industrial Glass Equipments and Laboratory Glassware.

Products :

Product Description	ITC Code No.
Scientific Glass Equipments	7012.10
Laboratory Glass items	7015.00

Exports to :

USA, UK, Germany, Italy, Africa, Israel, Middle East, Bangladesh, Korea, Singapore, Hong Kong, China, etc

Imports from :

China and Germany

PRODUCTION STATUS

Class of Goods	Unit	Installed Capacity
Industrial Glass Equipment	Millions	50.000
Laboratory Glassware	Millions	100.000

GENERAL INFORMATION

Suppliers :

v Hindustan Salt Limited

v Akshar Acetylene Limited

v Appolo Chemtek Limited

v Darshan Corporation

v Cadila Healthcare Limited

v Alpha Enterprises

v Monax Glass Limited

v Symbiotec Steroids Private Limited

v Tonira Pharma Limited

Customer :

v Bio Labs Limited

v Adima Organics (India) Private Limited

v Cadila Pharmaceuticals Limited

v E-Merch India Limited

v Hindustan Lever Limited

v K. Pharmaceuticals Limited

v Narmada Chemature Products India Limited

v N. R. Enterprises

v Cipla Limited

v Vita Life Labs

v Noble Glass Works Private Limited

v Shipa Organics Private Limited

v Shree Benzo Ferro Industries Limited

v Shree Chem Global

v Spic

v Tensil Glass Works, Bangalore

v Victory Products

No. of Employees :

45

Bankers :

Union Bank of India

M. G. Road Branch, M. G. Road, Baroda – 390 001, Gujarat

Tele No. 91-265-2415895 / 2424769

Facilities :

Secured Loan	(Rs in millions)
Cash Credit with Union Bank of India (Secured against stock book debts and all the fixed assets of the company and jointly guaranteed by the directors)	13.153
Term Loan with Union Bank of India (Secured against Mortgage of plant and machinery and all the fixed assets of the company and jointly guaranteed by the directors)	0.588
Bank overdraft with Union Bank of India (Secured against Fixed deposits of the company with the Bank)	0.000
Car Loan with Ford Credit kotak Mahindra Limited (Secured against Motor car – Ford Icon)	0.231
Car Loan A/c No. 9030603 with ABN Amro bank Limited (Secured against Motor car – Maruti car)	0.031
Car Loan A/c No. 9032050 with ABN Amro bank Limited (Secured against Motor car – Maruti car)	0.000
Car Loan with Maruti Countrywide (Secured against Motor car – Maruti car)	0.198
Car loan with ICICI Bank Loan (Secured against hypothecation of Motor car)	0.170

Banking Relations :	Satisfactory
Auditors :	R. C. Thakkar & Associates Chartered Accountants, 432, Paradise Complex, Near Kala Ghoda, Sayajigunj, Baroda – 390 005, Gujarat
Tel. No.:	91-265-2362255 (O) 91-265-2484196 (R)
Fax No.:	91-265-2363455
E-Mail :	recta@reiffmail.com
Subsidiaries:	Goel Process Systems Private Limited -Trading of Laboratory Glass Ware and Industrial Glass Equipments.
Associates :	Ø Goel Glass Engineering Ø Goel Scientific Glass Works Ø Goel & Jain Technochem Private Limited Ø Goel Scientific Works Private Limited Ø Globe Scientific Glass Industries Ø Ablaze Glass Works Private Limited Ø Arise Scientific Works Ø Noble Scientific Company, Vapi, Gujarat, India Ø Pioneer Scientific Glass Works Ø Super Scientific Works Private Limited Ø Vikram Scientific Glass Works

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs. 10/- each	Rs. 5.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
450000	Equity Shares	Rs. 10/- each	Rs. 4.500 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2005	31.03.2004	31.03.2003
SHAREHOLDERS FUNDS
1] Share Capital		4.500	4.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		7.628	7.166	6.931
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		12.128	11.666	9.431
LOAN FUNDS
1] Secured Loans		14.372	10.287	2.788
2] Unsecured Loans		10.044	9.963	5.002
TOTAL BORROWING		24.416	20.250	7.790
DEFERRED TAX LIABILITIES		0.341	0.284	0.000
TOTAL		36.885	32.200	17.221
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.979	6.549	3.723
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.006	0.006	0.006
DEFERREX TAX ASSETS
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	25.345	24.442	20.725
	Sundry Debtors	15.232	10.600	3.284
	Cash & Bank Balances	2.116	1.883	1.241
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.967	1.740	10.901
Total Current Assets		45.660	38.665	36.151
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	15.990	15.022	18.846
	Provisions	0.770	0.363	3.813
Total Current Liabilities		16.760	15.385	22.659
Net Current Assets		28.900	23.280	13.492
MISCELLANEOUS EXPENSES		0.000	2.365	0.000
TOTAL		36.885	32.200	17.221

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2005	31.03.2004	31.03.2003
Sales Turnover [including other income]	63.865	71.195	125.626
Profit/(Loss) Before Tax	0.944	0.410	9.150
Provision for Taxation	0.481	0.175	3.449
Profit/(Loss) After Tax	0.463	0.235	5.701
Export Value	10.993	16.811	7.704
Import Value	Na	Na	4.653
Total Expenditure	62.920	70.784	116.449

KEY RATIOS

PARTICULARS		31.03.2005	31.03.2004	31.03.2003
PAT / Total Income	(%)	0.72	0.33	4.54
Net Profit Margin (PBT/Sales)	(%)	1.49	0.58	7.28
Return on Total Assets (PBT/Total Assets}	(%)	1.76	0.91	22.94
Return on Investment (ROI) (PBT/Networth)		0.08	0.04	0.97
Debt Equity Ratio (Total Liability/Networth)		3.40	3.05	3.23
Current Ratio (Current Asset/Current Liability)		2.72	2.51	1.60

LOCAL AGENCY FURTHER INFORMATION

Dividend :

With a view to conserve the resources of the Company for future business requirements, the directors do not recommend declaration of any dividend.

It is in trade terms with :-

> Bio Labs Limited

> Adima Organics (India) Private Limited

> Cadila Pharmceuticals Limited

> E-Merch India Limited

> Hindustan Lever Limited

> K. Pharmaceuticals Limited

> Narmada Chemature Products India Limited

> N. R. Enterprises

> Cipla Limited

> Vita Life Labs

> Noble Glass Works Private Limited

> Shipa Organics Private Limited

> Shree Benzo Ferro Industries Limited

> Shree Chem Global

> Spic

> Tensil Glass Works, Bangalore

> Victory Products

The company is specialist in following Transparent :-

· Piping Components

· Container

· Heat Exchanger

· Mass and Control

· Structure and Support

· Typical Units

· Valve

· Mixer

· Split Components

· Couplings

· Slight Glasses

· Rieselfilm Sauger

· Water Free HCL Gas

· Truning Film Evaporator

The company’s fixed assets of important value include Computer Furniture and Fixtures, Office Equipments, Plant & Machinery, Motor Car and Scooter.

Product

v Beakers

v Bottles

v Burettes

v Condensers

v Cylinders Desiccators

v Dishes

v Extracts

v Flasks

v Volumetric Flasks

v Funnels

v Gas Generators

v Ground Joints

v Jars

v Kettles

v Pipettes

v Stopcocks

v Stoppers

v Tubes

v Adapter

v Tubes Test

ABLAZE GLASS WORKS PRIVATE LIMITED

It is leading manufacturer in Borosilicate Scientific glass equipments since year 1985. Its products are mainly used in Chemical, Bulk Drug, Pharmaceutical, Agrochemical and Fince Chemical Industries all over India and in Foreign countries.

Managing Director: Mr. D. H. Goel

Laboratory works requires apparatus made in a Borosilicate 3.3 expansion glass which offers maximum inertness to widest range of chemical substances, withstand the normal laboratory handling, washing and sterilising processes.

Borosilicate glass represents unmatched standardised glass for construction of Laboratory Glasswares. Its steadily growing use is due to many advantages over conventional materials.

Ì Outstanding corrosion resistance

Ì Smooth pore and surface

Ì Transparency

Ì Catalytic, inertness

Ì No effect on taste and odour

Ì Physiological inertness

Its standard products are:

1. Vessels, Bends, Tees, Valves etc. of all sizes up to 450 mm dia.

2. Pipe Sections, condensers etc. upto 450 mm dia.

3. Fractional reaction Cum Distillation units upto 10 to 200 litres capacity.

4. Distillation Unit on Glass lined Reactor

5. Condensers-Coil tyoe upto 450DN & Shell & Tube type upto 30M² HTA.

6. Multi-purpose units 10 to 200 litres capacity

In addition to above regular products ranges are:

1. bromine recovery from sea bitten/industrial effluents

2. HCL generation Plant

3. Gas Scrubber units

4. Bio Reactor

OBJECTIVES

Ø Customer Satisfaction

Ø Built up of a good image in competitive market

Ø Employees welfare

Ø Recruitment of more professional people in every field/branch

Ø Training of fresh/executive/employees of the company.

Name of the company

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

Presented By

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

1) Date and description of instrument creating the change

09/05/2000 Agreement for Hypothecation of Assets for Cash credit facility executed in favour of Oriental Bank of Commerce Sayajigunj, Vadodara

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 2.000 millions

As under :

Cash Credit	Rs. 1.500 millions
Letter of Credit	Rs. 0.500 millions
Total	Rs. 2.000 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation by way of first charge of stocks of raw materials, stocks in progress finished goods, stocks against letter of credit, all plant and machinery, merchandise vehicles and all type of movable assets.

4) Gist of the terms and conditions and extent and operation of the charge.

The borrower shall not create any mortgage charge. Allen or encumbrance over the hypothecated assets

The borrower shall not remove or cause or permit to be removed the hypothecation goods form the borrowers premises

Interest @ 3.51 % p.a. over the PLR of the Bank with a minimum of 15.31 % shall be calculated on the daily balance due to the bank on the said account and charged on quarterly rests or such other rate of interest as may be applicable

Goods to be kept in good. Repaired and insured condition

Right of inspection of premises and submission of stock statements

Other terms and conditions more particularly described.

5) Name and Address and description of the person entitled to the charge.

Oriental Bank of Commerce

Sayajigunj Branch,VSE, Bdg. Gr. Floor, Fortune Tower Sayajigunj, Vadodara-390005

6) Date and brief description of instrument modifying the charge

Not Applicable

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Not Applicable

Name of the company

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

Presented By

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

1) Date and description of instrument creating the change

09/05/2000 Agreement for Hypothecation of Assets for Cash credit facility executed in favour of Oriental Bank of Commerce Sayajigunj, Vadodara

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 0.500 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation by way of first charge of stocks of raw materials, stocks in progress finished goods, stocks against letter of credit, all plant and machinery, merchandise vehicles and all type of movable assets.

4) Gist of the terms and conditions and extent and operation of the charge.

The borrower shall not create any mortgage charge. Allen or encumbrance over the hypothecated assets

The borrower shall not remove or cause or permit to be removed the hypothecation goods form the borrowers premises

Interest @ 3.51 % p.a. over the PLR of the Bank with a minimum of 15.31 % shall be calculated on the daily balance due to the bank on the said account and charged on quarterly rests or such other rate of interest as may be applicable

Goods to be kept in good. Repaired and insured condition

Right of inspection of premises and submission of stock statements

Other terms and conditions more particularly described.

5) Name and Address and description of the person entitled to the charge.

Oriental Bank of Commerce

Sayajigunj Branch

Vadodara-390005

6) Date and brief description of instrument modifying the charge

Not Applicable

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Not Applicable

Name of the company

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

Presented By

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

1) Date and description of instrument creating the change

09/05/2000 Agreement for Hypothecation of Assets for Cash credit facility executed in favour of Oriental Bank of Commerce Sayajigunj, Vadodara

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 2.000 millions

As under :

Cash Credit	Rs. 1.500 millions
Letter of Credit	Rs. 0.500 millions
Total	Rs. 2.000 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation by way of first charge of stocks of raw materials, stocks in progress finished goods, stocks against letter of credit, all plant and machinery, merchandise vehicles and all type of movable assets.

4) Gist of the terms and conditions and extent and operation of the charge.

The borrower shall not create any mortgage charge. Allen or encumbrance over the hypothecated assets

The borrower shall not remove or cause or permit to be removed the hypothecation goods form the borrowers premises

Interest @ 3.51 % p.a. over the PLR of the Bank with a minimum of 15.31 % shall be calculated on the daily balance due to the bank on the said account and charged on quarterly rests or such other rate of interest as may be applicable

Goods to be kept in good. Repaired and insured condition

Right of inspection of premises and submission of stock statements

Other terms and conditions more particularly described.

5) Name and Address and description of the person entitled to the charge.

Oriental Bank of Commerce

Sayajigunj Branch

Vadodara-390005

6) Date and brief description of instrument modifying the charge

28/09/2001 Supplemental Agreement for cash credit a certified true copy of which is enclosed herewith

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Original charge dated 09/05/2001 of Rs. 2.000 millions was modified to Rs. 2.250 millions by additional of Rs. 0.250 millions against the securities of stocks of raw materials, Letter of credit, stocks and all plant and machineries etc. more details prescribed in the said supplemental agreement.

Name of the company

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

Presented By

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

1) Date and description of instrument creating the change

Packing credit agreement dated 09/05/2000

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 0.400 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation by way of first charge of stocks of raw materials, stocks in progress finished goods, stocks against letter of credit, all plant and machinery.

4) Gist of the terms and conditions and extent and operation of the charge.

The borrower Hereby decline that all the hypothecation goods are their absolute property and that they have full power of disposal over them and that such goods are one form any prior charge or encumbrance.

The borrower shall punctually pay all rents rates and other taxes and other outgoings of the Godown and premises wherein the hypothecated goods are kept.

Interest @ 10 % p.a. at other ratet as may be fixed time to time by the Bank are with quarterly tests.

Other terms and conditions more particularly described.

5) Name and Address and description of the person entitled to the charge.

Oriental Bank of Commerce

Sayajigunj Branch

Vadodara-390005

6) Date and brief description of instrument modifying the charge

Not Applicable

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Not Applicable

Name of the company

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

Presented By

GOEL SCIENTIFIC GLASS WORKS PRIVATE LIMITED

1) Date and description of instrument creating the change

09/05/2000 Agreement for Hypothecation of Assets for Cash credit facility executed in favour of Oriental Bank of Commerce Sayajigunj, Vadodara

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 0.500 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation of all borrower present future book debts, outstanding, decreses, monies receivables claims, bills, contracts engagements, securities, investments, bank deposit rights and other movable assets.

4) Gist of the terms and conditions and extent and operation of the charge.

The borrower shall sole absolute and unencumbered property of borrower with full power of disposition and free from any prior change encumbrances or lien.

Interest @ 3.81 % p.a. over the PLR of the Bank with a minimum of 15.31 % or such other rate as may be applicable with 50 % margin

A register of hypothecated assets shall by kept by the borrower having full data of the book dents which shall be open to inspection by the bank.

Other terms and conditions more particularly described.

5) Name and Address and description of the person entitled to the charge.

Oriental Bank of Commerce

Sayajigunj Branch

Vadodara-390005

6) Date and brief description of instrument modifying the charge

27/09/2001 Supplemental Agreement for cash credit a certified true copy of which is enclosed herewith

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Original charge dated 09/05/2001 of Rs. 0.500 millions was modified to Rs. 0.750 millions by additional of Rs. 0.250 millions against the Book debts as mentioned in the principal agreement.

As per website

The company manufacture borosilicate glass equipments as per major international design practices. The glass equipments are compatible and replaceable in any of the existing plants of other major design prevalent in the international market. The strong belief is in continuous development for the and hence the company have been the proud achiever of a number of innovative development, a few of which are as

Borosilicate Glass  quipments.  Industrial glass plant 

Borosilicate Glass Extraction Unit .

Beaded Glassware.
Industrial glass Beaded Component  

20 L GRFE
20 L Goel Rotary Film Evaporator with fully automatic facilities

Skid mounted
Skid Mounted Assembly for minimum space requirement.

Laboratory Glassware
Laboratory Glass products for use in Scientific & Research Industry

Laboratory Glassware
Laboratory Glass products for use in Scientific & Research Industry

Glass Reactor 

Glass Reactor Available up to  500Ltr. 

Corporate Vision:
The company will strive to become a force in the global market and will see India in a leading position there.

Corporate Mission:
The company will maintain the leading position in the industry by way of developing newer products with higher value indigenously.

GOEL SCIENTIFIC GLASS WORKS PVT. LIMITED is the first ISO 9001:2000 borosilicate industrial glass equipments manufacturing company in India. The company are in the business of borosilicate industrial glass equipments manufacturing since 1977. Ours is a professionally managed company headed by Mr. Hemant. H. Goel , who himself is an expert in the field of glass equipment fabrication.

The company manufacture borosilicate glass equipments as per major international design practices. The glass equipments are compatible and replaceable in any of the existing plants of other major design prevalent in the international market. The strong belief is in continuous development for the and hence the company have been the proud achiever of a number of innovative development, a few of which are as 

1989 :

Developed the unique XTRONG(TH) range of glass equipments, which possess a tightening strength as high as 3 times than earlier conventional ones and thus almost eliminated leakage and breakage problems while tightening. 

1990 :

Introduced Glass Shell & Tube Heat Exchanger in Indian market for the first time.

1994 :

Started "Process Plant Division" for the development of new products for catering to the needs of borosicilate glass equipments users. The process plant division is committed to the development of newer equipment tailor made to suit the user industry requirement.

1998 :

Started manufacturing Spherical vessels from an entirely new technique first time in the country, placing us in line with other overseas manufactures of these size vessels. 

2000 :

Became the first ISO-9001 certified company in the " Industrial glass equipment manufacturing "segment in india.

2002 :

Developed 300 Litre Spherical Vessel & 400 Litre Cylindrical Rotary Film Evaporator, the largest size in the world.

2003 :

800 DN pipe section manufacture first time in india.

2004 :

Designed 500 Ltr.spherical vessel.

2005 :

Offering product & Services to more than 30 countries across the world.

STANDARDS PRACTICED

DIN ISO 3585

DIN ISO 3586

DIN ISO 3587

DIN ISO 4704

BSEN 1595

DIN ISO 718

AVAILABLE ITEMS

Items which are available faster are marked by * in the catalogue. Though it does not indicates any definate period of delivery, these items can be manufactured faster than the other items of its range. For example, Pipe section PS18/100 can be supplied faster than any other pipe section of 450DN. This is because of following reasons:

It must be realized that in complete plants, composed not only of borosilicate glass, but also including other materials such as PTFE the recommended max. Operating temperature is 200°C. Operating temperatures may have to be modified so as to compensate for the effects of other factors such as pressure, thermal cycling, rapid heating cooling etc.

The degree of thermal shock (usually defined as sudden chilling or heating) which it can withstand depends on many factors such as stresses due to operating conditions, stresses imposed in supporting the equipment, the wall thickness of the glass. It is therefore undesirable to give sudden temperature changes. But up to 120 °C can be accommodated.

At sub-zero temperature, the tensile strength of borosilicate glass tends to increase and equipment can be used with safety at temperatures as low as -50 °C for XTRONG and components.

REPAIRS

Though any damaged glass equipment can be repaired, mostly it is not economical to do so. Generally the repair which involves less than a third of its original work, is worth to carry out repairing. Repair work is costly because:

• It generally require greater skill than making a new one.
• Since it involves high risk of total breakage, the risk of total loss of time spent on its repairing goes alongwith.
• The work involved in receiving a damaged equipment, identifying it throughout the handeling, cleaning it, estimating its repairing charges, re-estimating the repairing charges in case damage extends etc are relatively expensive.
• Each job require individual attention throughout the execution.

However, while sending an equipment for repairing, following care must be taken:

• Inform the nature of breakage and get an estimate of repairing charges in advance to avoid the loss of transportation expenses in case it is uneconomical to go for repairing.
• Since repairing takes longer time to fit into production schedules and completion of repairing is highly uncertain,it is generally suggested to arrange for a subsitute equipment to continue the work.
• Equipment to be repaired should be clean. Since it can be cleaned better and at less cost at owner's premises. It should be cleaned befor sending it for transportation. This also makes it safer to transport.
• Pack with extra care, since cracks in glass have a tendency to extend with every jerk.
• If Possible, send broken pieces alongwith it.
• Generally repairing work is accepted only for the equipment manufactured by us,and are repaired at owner's risk only.

DIMENSIONS,WEIGHTS AND SPECIFICATIONS

In this catalougue, dimensions, weights and other specificaions are taken more or less in accordance with Corning. This is to keep the flexibility of maximum interchange ability. However, some difference are anavoidable due to local manufacturing conditions. All the odd dimensions are rounded off.

All the dimensions and weights are approximate. The specifications given in the catalogue are intended to present a general description of the items. Since manufacturing of glass equipment involves all manual operations, certain tolerances are obvious and permissible while passing the items through quality control.

CATALOGUE REFERENCES

To avoid querries and delays in delivery, please always quote the catalogue reference in the order.

MODIFICATIONS

The company reserves the right to carry out technical modifications of products and data mentioned in this catalogue as and when require.

Borosilicate glass represents unmatched standardized glass for construction of plant and piping in the chemical, dyestuff, food pharmaceutical, petrochemical industries. Its steadily growing use is due to many advantages over conventional materials.

Outstanding corrosion resistance

Smooth pore free surface.

Transparency

Catalytic inertness.

No effect on taste and odour.

Physiological inertness.

Borosilicate glass is chosen for its unique chemical and physical properties. Borosilicate glass can be considered as being composed of oxides. Silica (SiO₂) Magnesia (MgO) and lead oxide (PbO) are the principle modifiers/fluxes. The chemical and physical properties of any glass depends on a varying degree on chemical composition of glass.

CHEMICAL COMPOSITION

The composition of borosilicate glass used for chemical plants has following approximate composition.

SiO₂ - 80.6% B₂ O₂ - 12.5%

Na₂O - 4.2% Al₂O₃ - 2.2%

RESISTANCE TO CHEMICAL

Borosilicate glass is inert to almost all materials except hydroflouric acid (HF) phosphoric acid((H₃Po₄) and hot strong caustic solutions. Of these Hydrochloric acid has the most serious effect, even when it is present in PPM (parts per million) in solutions. Where as phosphoric acid and caustic solutions cause no problems when cold caustic solutions upto 30% concentration can be handled safely at ambient temperature.

Under actual operating conditions, the effect of turbulence, and traces of other chemicals in the solution may increase of decrease the rate of attack. So it is not possible to give exact figures for corrosion by caustic solutions.

THERMAL PROPERTIES

Linear coefficient of thermal expansion

The coefficient of thermal expansion of borosilicate glass over the temperature 0 - 300°C is 3.3 x 10-6/°C. This is very low when compared with other glasses and metals. That is why, borosilicate glass is often called low expansion borosilicate glass.

Specific heat

Specific heat between 25°C and 300°C is average to be 0.233Kcal/Kg, °C

Thermal Conductivity

Thermal conductivity is 1.0 Kcal/hr,m°C. Over the permissible operating temperature range.

ANNEALING

Annealing of glass is the process where the glass is heated and kept for a defined period of time to relive internal stresses. Careful cooling under controlled conditions is essential to ensure that no stresses are reintroduced by chilling/cooling.

RESHAPEING

In the given below are shown characteristic temperature at a determined viscosity, essential for glass reshap.

Lower cooling temperature 10²⁴ poise 515°C

Upper cooling temperature 10¹³ poise 565°C

Softening point 10⁷ poise 795°C

Reshapeing point 10⁴ poise 120° C

MECHANICAL PROPERTIES

The lack of ductility of glass prevents the equalization of stresses at local irregularities or flaws and the breakage strength varies considerably about a mean value. This latter is found to occur at a tensile strength of about 700kg/cm2

In order to allow for the spread of breaking stress, a large factor of safely is applied when determining the wall thickness requirement to allow operation up to values given in the table of working pressure.

OPTICAL PROPERTIES

Borosilicate glass show no appreciable absorption in the visible region of spectrum and therefore appears clear and clour less.

In photo chemical processes the transparency of ultra violet is of particular importance. It follows from the transmittance of material in uv region that photo chemical reactions such as chlorination & sulpho chlorination can be performed in it.

EXTRA PROTECTION OF GLASS COMPONENTS

X BONDING provide an added advantage of protection of standard glass components. The major advantage of X-Bonding systems is that if the glass is subject to accidental breakage, the bonded wrapping provides additional protection against the risk of injury, release of corrosive fluids or loss of expensive products.

X BONDING is a glass reinforced fibre coating which provide a higher level of protection on the glass components. This does have a slightly adverse effect on the transparency of the glass, making it translucent & not transparent.

PERMISSIBLE OPERATING TEMPERATURE:

The permissible operating temperature for X-Bonding is 100’ C unless limited by the individual operating temperature of the said component.

PERMISSIBLE OPERATING PRESSURE:

The permissible operating pressure for X Bonded components is same to that for standard glass components.

THERMAL SHOCK

Despite the thermal insulating effect of X Bonding, the thermal shock characteristics remain the same as standard glass component.

X-BONDING items are supplied by adding XB to standard catalogue reference. For example PS 1/200 becomes PS 1/200XB.

WORKING PRESSURE FOR GLASS PIPELINES & VESSELS

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 records 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 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. 46.17
UK Pound	1	Rs. 86.06
Euro	1	Rs. 59.14

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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

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