MIRA INFORM REPORT

Report Date :

07.10.2008

IDENTIFICATION DETAILS

Name :	GOODYEAR INDIA LIMITED
Formerly Known As :	GOODYEA TIRE AND RUBBER COMPANY (INDIA) LIMITED
Registered Office :	Mathura Road, Ballabgarh, Faridabad - 121 004, Haryana
Country :	India
Financials (as on) :	31.12.2007
Date of Incorporation :	01.01.1901
Com. Reg. No.:	05-8578
CIN No. :	L25111HR1961PLC008578
TAN No.: (Tax Deduction & Collection Account No.)	DELG00070A / RTKG03767B
PAN No.: (Permanent Account No.)	AAACG3511H
Legal Form :	It is a Public Limited liability Company. The company’s shares are listed on the Stock Exchanges. Subject is a subsidiary of Goodyear Tire and Rubber Company Limited, a multinational giant with a universally recognised brand name.
Line of Business :	Manufacturing and selling of Automotive Tyres, Truck, Bus, Car, Tractor, Jeep and LCV tyres

RATING & COMMENTS

MIRA’s Rating :

Aa

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 7200000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Their trade relations are fair. General financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

LOCATIONS

Registered Office /Factory :	Mathura Road, Ballabgarh, Faridabad - 121 004, Haryana, India
Tel. No.:	91-129-5069000/2305301-05
Fax No.:	91-129-2305309
E-Mail :	info@goodyear.com
Website :	http://www.goodyear.com
Head Office :	Godrej Bhavan, Mathura Road, New Delhi - 110 065
Tel. No.:	91-11-26836567 (8 Lines)
Fax No.:	91-11-26836170
Head Quarter:	1144 E Market Street, Akron, Ohio-44316,
Tel No.:	91-330-7962121

DIRECTORS

Name :	Mr. Prabhakar Jain
Designation :	Chairman and Managing Director
Name :	Mr. Antonio M. Capellini
Designation :	Chairman and Managing Director
Name :	Mr. Hugo O. Dedekind
Designation :	Finance Director
Name :	Mr. R. V. Gupta
Designation :	Independent Director
Name :	Mr. Alberto Aguirre Rivera
Designation :	Finance Director
Name :	Mr. C. Dasgupta
Designation :	Independent Director
Name :	Mr. Luis C Ceneviz
Designation :	Director

KEY EXECUTIVES

Name :	Mr. S. K. Jain
Designation :	Company Secretary

MAJOR SHAREHOLDERS

AS ON 31.12.2007

Names of Shareholders	No. of Shares	Percentage of Holding
Shareholding of Promoter and Promoter Group
Indian
Bodies Corporate	17069215	74.00
Public shareholding
Institutions
Mutual Funds/ UTI	364419	1.58
Financial Institutions ^/Banks	10041	0.04
Insurance Companies	358369	1.55
Foreign Institutional Investors	200	0.00
Non-institutions
Bodies Corporate	560261	2.43
Individuals
Individuals -i. Individual shareholders holding nominal share capital up to Rs 0.100 Million	3301056	14.31
ii. Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	1402946	6.08
TOTAL	23066507	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and selling of Automotive Tyres, Truck, Bus, Car, Tractor, Jeep and LCV tyres.

Products :

Automotive Tyres, Truck, Bus, Car, Tractor, Jeep and LCV tyres.

Product Description	ITC Code
Automotive Tyres	4011
Flaps	4012
Tubes	4013
Transmission Belting	4010
V and Fan Belt	4010

Exports to :

Bangladesh, Dubai, Ghana, Australia, Ethiopia, Tanzania, Myanmar, Sri Lanka, Vietnam, Maldives, Pakistan, Qatar, Mauritius and Greece.

Imports from :

Raw materials, components and spare parts and capital goods from Europe, USA and Far East.

Terms :

Purchasing :

Against L/C, D/A, D/P or Credit terms.

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production
Automotive Tyres	Nos.	1264	1143

GENERAL INFORMATION

No. of Employees :	891
Bankers :	· Citibank, Faridabad, Haryana · Bank of America, Faridabad, Haryana · Punjab National Bank, Faridabad, Haryana

Banking Relations :	Good
Auditors :	Price Waterhouse Chartered Accountants A. F. Ferguson and Company Chartered Accountants Cost auditor Dr. Ashok K. Agarwal Cost Auditor
Parent Company :	· Goodyear Tire and Rubber Company Limited
Holding Company:	The Goodyear Tire and Rubber Company, Akron, Ohio, USA
Fellow Subsidiaries:	· Goodyear do Brasil Prouducts de Borracha Limited · Goodyear Tyres Italia SPA · PT Goodyear Indonesia TBK · Goodyear South Africa (Pty) Limited · Goodyear Philippines Incorporation · Goodyear Lastikleri TAS · Goodyear Dunlop Tires Germany Gmbh · Goodyear Marketing and Sales SDN Bhd · Goodyear South Asia Tyres Private Limited · Goodyear Dalian Tire Company Limited · Godyear Taiwan Limited · Goodyear (Thiland) Public Company Limited · Goodyear Middle East, FZE · Goodyear Australia Pty Limited · Goodyear Productos de Imgenieria · S De R.F De CV · South Pacific Tyres N.Z Limited · Goodyear De Colombia S.A · T C Debica SA · South Pacific Tyres · Goodyear International Corporation · Goodyear Nippon Ginant · Goodyear Luxemburg Tires, SA · Goodyear Guatemala · Goodyear Great Britan Limited · Goodyear Singapore Private Limited · Goodyear Jamaica Limited

CAPITAL STRUCTURE

As on 31.12.2007

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs. 10/- each	Rs. 300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
23066507	Equity Shares	Rs. 10/- each	Rs. 230.665 millions

Notes:

1) 17069215 (17069215) Shaers are held by the Goodyear Tire and Rubber Company, Ohio, USA (the Holding Company) of which 1203926 shares are allotted as fully paid up pursuant to a contract without payment being received in cash.

2) 12159379 (12159379) Shares are allotted as fully paid up by way of bonus shares by capitalization of Genral Reserve Rs. 0.114 Millions and Share Premium Account Rs. 7.406

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.12.2007	31.12.2006	31.12.2005
SHAREHOLDERS FUNDS
1] Share Capital	230.665	230.665	230.665
2] Share application Money	0.000	0.000	0.000
2] Reserves & Surplus	1218.223	979.265	671.245
3] Profit and Loss Account	0.000	0.000	[5.575]
NETWORTH	1448.888	1209.930	896.335
LOAN FUNDS
1] Secured Loans	0.000	0.000	0.000
2] Unsecured Loans	0.000	561.582	950.040
3) Finance Lease Liabilities	0.000	0.000	0.000
TOTAL BORROWING	0.000	561.582	950.040
DEFERRED TAX LIABILITIES	90.489	95.053
TOTAL	1539.377	1866.565	1846.375
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]	1050.035	1013.792	1013.896
Capital work-in-progress	107.271	104.467	58.243
INVESTMENTS	0.000	0.000	113.400
DEFERREX TAX ASSETS	0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
Inventories	644.105	613.367	583.071
Sundry Debtors	1276.659	972.383	966.859
Cash & Bank Balances	645.721	988.601	723.749
Other Current Assets	0.000	0.000	0.000
Loans & Advances	151.839	192.344	143.014
Total Current Assets	2718.324	2766.695	2416.693
Less :
Current Liabilities	1871.188	1622.660	1506.693
Provisions	465.065	395.729	259.398
Total Current Liabilities	2336.253	2018.389	1766.091
Net Current Assets	382.071	748.306	650.602
MISCELLANEOUS EXPENSES	0.000	0.000	10.234
TOTAL	1539.377	1866.565	1846.375

PROFIT & LOSS ACCOUNT

PARTICULARS		31.12.2007	31.12.2006	31.12.2005
Sales Turnover		8904.320	8296.340	7545.000
Other Income		99.386	140.022	91.900
Total Income		9003.706	8436.362	7636.900
Profit/(Loss) Before Tax		647.467	554.888	104.423
Provision for Taxation		245.205	103.679	16.434
Profit/(Loss) After Tax		402.262	451.209	87.989
Earnings in Foreign Currency :
Total Earnings		602.073	576.188	765.341
Imports :
Total Imports		648.117	705.070	654.627
Expenditures :
	Increase/(Decrease) in Finished Goods	4.708	9.766	117.100
	Raw Materials	4091.005	4105.139	5034.900
	Work in Process and Finished goods	2536.394	2183.996	0.000
	Excise Duty	0.000	0.000	669.800
	Power & Fuel Cost	0.000	0.000	232.900
	Other Manufacturing Expenses	1564.642	1373.205	142.400
	Employee Cost	0.000	0.000	332.900
	Selling and Administration Expenses	0.000	0.000	615.100
	Miscellaneous Expenses	0.000	10.234	157.700
	Interest & Financial Charges	44.801	91.438	90.200
	Depreciation	114.689	107.696	139.400
Total Expenditure		8356.239	7881.474	7532.400

SUMMARISED RESULTS

Particulars	31.03.2008 1^st Quarter	30.06.2008 2^nd Quarter
Sales Turnover	2071.400	2626.200
Other Income	46.700	36.800
Total Income	2118.100	2663.000
Total Expediture	1884.800	2419.900
Operating Profit	233.300	243.100
Interest	5.600	7.500
Gross Profit	227.700	235.600
Depreciation	30.100	30.300
Tax	54.500	75.800
Reported PAT	126.200	131.500

KEY RATIOS

PARTICULARS	31.12.2007	31.12.2006	31.12.2005
Debt Equity Ratio	0.22	0.74	1.15
Long Term Debt Equity Ratio	0.00	0.00	0.00
Current Ratio	1.07	0.96	0.87
TURNOVER RATIOS
Fixed Assets	4.07	3.90	3.30
Inventory	15.33	15.10	10.39
Debtors	8.71	9.46	8.56
Interest Cover Ratio	13.43	6.64	2.16
Operating Profit Margin (%)	8.31	8.29	4.43
Profit Before Interest and Tax Margin (%)	7.14	7.12	2.58
Cash Profit Margin (%)	5.28	6.09	3.01
Adjusted Net Profit Margin (%)	4.11	4.92	1.17
Return on Capital Employed (%)	44.45	36.94	11.01
Return on Net Worth (%)	31.11	44.35	10.21

LOCAL AGENCY FURTHER INFORMATION

History:

Goodyear India, incorporated as Goodyear Tire and Rubber Company (India), acquired its present name in 1961 when it became a public limited company. A FERA company, with Goodyear Tire and Rubber, US, as the holding company with a stake of 74%, manufactures tyres and rubber goods used by the automobile industry, at its plant located in Ballabgarh, Uttar Pradesh. In 1982, the company entered into an agreement with Andrew Yule and Company, for technical know-how for fan-belts and vee-belts with a 50% buy-back arrangement. Production of scooter and motorcycle tyres was discontinued in Apr.'86.

In 1993, a joint venture South Asia Tyres, was effected with RPG-Ceat to manufacture steel radial passenger tyres, truck tyres and bias earthmover tyres earlier imported. Goodyear's product profile includes ultra large earthmover tyres, which are import substitutes, power tread passenger radial tyres, light and medium commercial truck tyres, farm tyres, automotive tyres, etc, which are marketed under the Goodyear brand.

The company undertook modernisation and expansion of its units to increase productivity. It was accredited with ISO 9002 certification by National Quality Assurance, UK, in 1994. BEML, Coal India, etc, procure their requirement of earthmover tyres from Goodyear. While it previously catered only to Ambassador, Padmini and Premier. 

In 1999, it launched India's first 13 inch tubeless as well as tube type H-rated, the Eagle NCT3 which will cater to all the mid-size cars such as Ford Ikon, Honda City, Opel Corsa, Mitsubishi Lancer, Fiat Siena, Maruti Esteem and Baleno etc.

It introduced three new products for truck and light truck segments. They are the Power 2000, the Power Torq+ and the Power Max+, targeted at the medium, commercial and light truck segments, respectively. The new tyres were created state-of-the-art computer modelling techniques to reduce tread wear. The company explored new markets beyond the borders and expanded the areas of its marketing influence in Asia. 

During 2005, the company launched a new Rear Farm Tyre 'Sampurna' which was ver well accepted in the Market. During the year the companies production capacity of Automotive Tyre stood at 1264 Nos. 

The companies strategic initiative in tyre retailing took off in 2006. The stores were inaugurated in Multiple cities across India starting with Chennai and quickly expanding to other states. Currently new concept retail stores are present in 8 cities in India and the company has plans to extend the stores to all corners of the country.

During the year, the net sales and other income increased from Rs. 8436.400 Millions in the previous year to 9003.700 Millions The export sales stood at 602.100 Millions. 

The depreciation for the year is inclusive of the accelerated depreciation amounting to Rs.10.200 Millions, in respect of a category of equipment due for replacement. After set off of carried forward losses and utilisation of available Minimum Alternative Tax credit, the Company has become a full tax paying company. 

OPERATIONS 

During the year, additions to fixed assets amounted to Rs. 159.900 Millions as against Rs. 113.100 Millions in the previous year. Supply of farm tyres to replacement and original equipment segments, wherein the company holds a key position, continued to be the area of focus of the Company. With a view to concentrate on its core area of activities, the Company discontinued trading in transmission beltings and Industrial V belts etc. 

In order to achieve continuous improvement in productivity, cost and customer satisfaction, all round efforts were made to achieve possible savings/cost reduction, under the umbrella of the Continuous Improvement System (CIS). 

FINANCE AND ACCOUNTS 

In order to have efficient utilization of working capital, the Company repaid the entire outstanding External Commercial Term Loan (ECB) of US$ 12.6 million to reduce interest cost besides foreign exchange exposure. As a result, the interest cost reduced from Rs 91.400 Millions in the previous year to Rs 44.800 Millions.

As at the end of December 2007, an amount of Rs 0.236 Millions of matured deposits remained unclaimed.

FUTURE OUTLOOK 

With the Central Government's commitment to move the economy to a higher growth phase and the measures announced in the Union Budget 2008, including a general reduction in excise duty and a special excise duty cut on small cars, growth in the automobile sector is expected to be further accelerated. Aggressive investment plans have been announced by major tyre companies in India. The Company has also been continuously monitoring the developments in the automobile sector and reviewing various investment options. 

During the year, the Company increased its focus on enhancing the market visibility of its products and an expenditure of Rs. 174.000 Millions was incurred during the year on advertising. The Company's products are well accepted in the market. 

During the year, the company continued its focus on production of farm tyres to maintain its leadership in the said segment. To meet any unexpected fall in farm tyre demand, the Company is geared up to switch its activities to medium truck tyres. Cheaper import of tyres and volatility in the prices of natural rubber and crude oil continue to be an area of concern. Fierce competition in the market place would continue to be a challenge to be met. In such a scenario, continuous review of activities in different areas of operations under the umbrella of the Continuous Improvement System (CIS) has been an integral part of the Company's philosophy to maximize gains and reduce costs in order to meet the market realities

MANAGEMENT DISCUSSION AND ANALYSIS 

 Industry Structure and Developments:

The growth of the tyre industry depends on various factors including overall GDP growth, agricultural and industrial production, growth in vehicle demand and infrastructure development. The economy is estimated to sustain a growth of over 8%. 

Tractor sector has also witnessed a growth but not in line with the growth witnessed in heavy and light commercial vehicle and passenger car segments. The volatility in the prices of natural rubber and crude oil continues to be a matter of concern and needs to be monitored continuously.

Opportunities and Threats 

As a subsidiary of The Goodyear Tire and Rubber Company, Akron, Ohio, USA, the Company enjoys fullest support from its parent Company in all the areas of its operations. This support, along with a committed team of associates through out the Company and an established dealer network, which is continuously being enhanced along with the brand image, equip the Company to meet market realities ahead. 

The Company's activities are increasingly focused on the farm segment, the growth of which is linked to the agricultural sector which, in turn, is heavily dependent on the monsoon. To meet any unexpected fall in farm tyre demand, the Company is geared up to switch its activities on the production of medium truck tyres. Cheaper import of tyres and volatility in the prices of natural rubber and crude oil continue to be an area of concern for the Indian tyre industry. 

Segment-wise/ Product-wise performance 

The Company manufactures automotive bias tyres viz. Farm tyres and Medium Commercial Truck tyres at its Ballabgarh plant and also trades in `Goodyear' branded tyres (including Radial passenger and Off-the-road Bias Tyres) manufactured by Goodyear South Asia Tyres Private Limited (GSATPL) Aurangabad, pursuant to an off-take agreement entered into with that company. The other products in which the Company deals in include tubes/flaps. 

 For some part of the year, the Company also traded in certain industrial rubber products.

Outlook 

Encouraging economic growth coupled with the Central Government's commitment towards building infrastructure, development of agriculture and manufacturing sectors and the measures announced in the Union Budget 2008, including general reduction in excise duty and special excise duty cut on small cars, would further accelerate the pace of growth in the automobile sector. In such a scenario, major tyre companies in India have announced their aggressive investment plans . The Company has also been continuously monitoring the developments in the automobile sector and reviewing various investment options. The company continues its philosophy to provide the highest quality products and after sales services to its customers. Continuous review of activities in different areas of operations under the umbrella of the Continuous Improvement System (CIS) has become an integral part of the Company's philosophy to maximize gains and reduce costs in order to meet the market realities. 

Contingent Liabilities:

Particulars	31.12.2007 Rs. In Millions
Bills Discounted	45.896
Claims Against the company not acknowledged as debts
Employee’ State Insurance	30.341
Rent Cases	43.875
Sales Tax	7.872
Additional Excise Duty	48.413
Others	22.050

Notes:

i) During the year 2003, a demand of Rs. 66.222 Millions besides interest, was raised by the Haryana Urban Development Authority towards external development charges (EDC) which has been challenged by the Company. As the Company had, in earlier years, already paid EDC, then demanded by the concerned authorities, the management is of the view that no additional demand against the Company is legally tenable.

ii) In respect of certain assessment years under Income Tax Laws there are appeals pending before the Hon’ble High Court/ Income tax Appellate Tribunal etc. against which is Management does not consider any contingent liability at this stage.

Fixed Assets

· Freehold Land

· Buildings

· Plant and Machinery

· Furniture and Fittings

· Motor Cars

· Trucks

WEBSITE DETAILS

GLOBAL FOOTPRINT

Goodyear is one of the world's largest tire companies, with operations in most regions of the world. Together with its subsidiaries and joint ventures, Goodyear develops, markets and sells tires for most applications.

Goodyear operates more than 60 plants in 26 countries.

GOODYEAR'S VISION

Become a market-focused tire company providing superior products and services to end-users and to the channel partners, leading to superior returns for the shareholders.

GOODYEAR'S VALUES

For the better part of a century, Goodyear's corporate values have been centered on the phrase, "Protect The Good Name."

Today, this is brought to life through developing culture in which a committed and competitive team of associates can excel.

GOODYEAR'S LEADERSHIP

Goodyear is one of the world's leading tire companies.

Goodyear is the No. 1 tiremaker in North America and Latin America.

Goodyear is Europe's second largest tiremaker.

GOODYEAR'S ASSOCIATES

Goodyear has about 70,000 associates around the world.

GOODYEAR'S FINANCIALS

In 2007, Goodyear posted net sales of $19.6 billion.

GOODYEAR'S SHAREHOLDERS

More than 22,000 investors directly own Goodyear common stock, which is traded on the New York Stock Exchange (symbol GT).

GOODYEAR'S BLIMPS

Aerial ambassadors of the company since 1925, Goodyear operates three blimps in North America.

In the United States, they are based in Akron, Ohio; Carson, California, and Pompano Beach, Florida.

GOODYEAR'S BEGINNINGS

The Goodyear Tire and Rubber Company was founded in 1898 by 38-year-old Frank Seiberling.

He purchased the first plant with a $3,500 down payment using money he borrowed from a brother-in-law.

The timing couldn't have been better. The bicycle craze of the 1890s was booming. The horseless carriage was a wide-open challenge.

On Aug. 29, 1898, Goodyear was incorporated with a capital stock of $100,000.

GOODYEAR'S LOGO

The winged-foot trademark was inspired by a newel-post statuette of the Roman god Mercury in the home of Goodyear founder Frank Seiberling.

Seiberling felt Mercury embodied many of the characteristics for which Goodyear products were known.

Executive Biographies

· Damon J. Audia - Vice President and Treasurer

· Arthur de Bok - President, Europe, Middle East and Africa

· Christopher W. Clark - Senior Vice President of Global Sourcing

· Pierre E. Cohade - President, Asia Pacific Region

· Thomas A. Connell - Vice President and Chief Information Officer

· Eduardo A. Fortunato - President, Latin America Region

· C. Thomas Harvie - Senior Vice President, General Counsel and Secretary

· William M. Hopkins - Vice President, Advanced Concepts

· Isabel H. Jasinowski - Vice President, Government Relations

· Robert J. Keegan - Chairman of the Board, Chief Executive Officer and President

· Jean-Claude Kihn - Senior Vice President and Chief Technical Officer

· Richard J. Kramer - President, North American Tire

· Mark W. Purtilar - Vice President and Chief Procurement Officer

· Joseph B. Ruocco - Senior Vice President, Human Resources

· W. Mark Schmitz - Executive Vice President and Chief Financial Officer

· Charles L. Sinclair - Senior Vice President, Global Communications

· Laura Thompson - Vice President of Business Development

· Darren Wells - Senior Vice President, Finance and Strategy

Goodyear India Story

Goodyear's presence in India is over 80 years old, with two plants, one each in Ballabgarh and Aurangabad.
A chronology of Goodyear's continued success in India is as follows:

1922: Goodyear tyre and Rubber company Akron, Ohio entered the Indian Market.

1961:Goodyear India's own manufacturing facility was inaugurated in Ballabgarh, 32 kms from India’s capital New Delhi .The plant had an investment of US $12million and was commissioned within 12 months.

1965: The Ballabgarh plant was expanded which increased the plant production by 35%

1969-70: The production increased by nearly 100%

1993: Goodyear formed a 50-50 joint venture with South- Asian Tyres Limited (SATL) at Aurangabad to manufacture

tate-of-art radial tyres for car and light truck and bias construction tyres for graders and earthmovers.

1996: The first tyre GPS2 radial Passenger was rolled out from Aurangabad plant

1998: SATL becomes a fully owned Goodyear Company

1999: A significant investment of 9.3 MM USD was made in the farm tyre manufacturing process.

2002: Goodyear becomes the first tyre manufacturer to roll out tubeless tyres on Indian roads.

In the passenger car segment, Goodyear supplies tyres to many of the leading Original Equipment Manufacturers in India. These include Maruti, Telco, Mahindra and Mahindra, Ford, Fiat and many more.
Goodyear India has been a pioneer in introducing tubeless radial tyres in the passenger car segment.

In the farm segment, Goodyear tyres are supplied to all the major Tractor manufacturers like PTL, ITL, TAFE, Eicher and Escorts. Similarly, for buses and trucks, vehicles rolling out of the assembly line of the leading OEMs like TELCO, Ashok Leyland, and Swaraj Mazda are often seen with Goodyear tyres.
Goodyear commands a major market share in the Off The Road (OTR) segment by being a major supplier to Coal India Limited, Escorts, LandT, TISCO and major steel plants of the country.

2004: A very significant year with three product launches including GT3, Eagle F1 and Ducaro GA.

2006: Launch of branded retail “shop-in-shop” concept – a part of the company’s strategic initiative in organized tyre retailing, aimed at strengthening its presence in the large tyre replacement market in the country. These outlets will offer customers an unmatched tyre purchase experience.

Goodyear India rolls out the Excellence series – a new collection of luxury passenger car tyres. Designed with the ultimate '3 -Zone Technology', and ECO-Sil Silica Tread Compound Technology, the tyre provides superior comfort and precise handling on both wet and dry conditions for premium car drivers.

History of the brand

The Goodyear Tire and Rubber Company started in 1898 when Frank Seiberling purchased the company's first plant using money he borrowed from a brother-in-law. The rubber and cotton had to be transported from halfway around the world, to a landlocked town that had only limited rail transportation. Seiberling named the company after the courageous pioneer Charles Goodyear, the discoverer of vulcanisation. He also determined the distinctive winged-foot trademark that remains a symbolic link with the company's past.

Milestones

 For well over 100 years Goodyear has been at the forefront of tyre technology and innovation, from Charles Goodyear creating vulcanisation in 1839 to the introduction of Bubble Blade technology in 2004. Through advanced research and manufacturing practices, Goodyear continues to produce tyres that revolutionize the industry and push the boundaries of innovation.

For innovation, technology and performance in tires, Goodyear continues to lead the way and is clearly 'One Revolution Ahead' of the competition.

1898 Frank Seilberling founded the Goodyear Tire and Rubber Company and chose the name "Goodyear" to honour Charles Goodyear.

1908 Henry Ford's Model T, fitted with Goodyear tyres, is a sensation with middle class consumers and car registrations skyrocket.

1964 Using Goodyear tyres, Craig Breedlove becomes the first man to top 600 miles (960km) an hour.

1969 Goodyear Aerospace helps send astronauts to the moon and return them safely to earth.

1971 Goodyear tyres were the first tyre tracks to land onto the Moon.

1992 The Goodyear Aquatreds revolutionary design makes it a hit with consumers and designs.

1998 Goodyear celebrates its 100th year anniversary.

2001 Goodyear launches Trinuum Technology, the integration of its 3 main engineering and technical centres from around the world, including Europe, the USA and Japan.

2003 Goodyear stands at the pinnacle of drag racing, winning the most championships in both the professional and sportsman categories, in the National Hot Rod and International Hot Rod Association competitions.

2004 Marks Goodyear's 50th anniversary of involvement with NASCAR, and as the longest-running sponsor of the sport.

2005 RunOnFlat
As a cutting-edge technology, RunOnFlat is still undergoing heavy development. While the basic system, consisting of reinforced tires together with a TPMS system, has been developed, tested and is now commercially available, there are more technical innovations and enhancements that are just around the corner.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No 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.47.46
UK Pound	1	Rs.83.37
Euro	1	Rs.64.46

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		75

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	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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