MIRA INFORM REPORT

Report Date :

11.07.2011

IDENTIFICATION DETAILS

Name :	DIE CAST INDUSTRIES
Registered Office :	Opposite Kanta Gas Godown, Atika, Dhebar Road (South), Rajkot – 360002
Country :	India
Financials (as on) :	28.02.2011 (Provisional)
Date of Incorporation :	01.04.2010 (31.07.1995 as proprietory concern. As partnership firm: 11.03.2010 Date of Comml. Production: 01.04.2010 in partnership firm.)
Capital Investment / Paid-up Capital :	Rs.5.733 Millions
SSI Regn. No.	092425200
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners.
Line of Business :	Manufacturing and Selling of C. I. Casting.
No. of Employees :	12 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was established as a proprietory concern in the year 1995 and later it converted into partnership concern in the year 2010. It is an established concern having satisfactory track records. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. However, it could be advisable to take adequate securities while dealing with the subject.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. T. Guru Prasad
Designation :	Senior Manager (Corporation Bank Pamnchavati Branch Rajkot)
Date :	05.07.2011

LOCATIONS

Registered/ Administrative Office/ Factory :	Opposite Kanta Gas Godown, Atika, Dhebar Road (South), Rajkot – 360002, India
Tel. No.:	91-281-2431259
Area :	7213.42 sq. mt.
Location :	Owned

PARTNERS

Name :	Mr. Jagdishbhai Jadavbhai Parsana
Designation :	Partner
Address :	Block No.12 AB, 2 Panchawati Society, Kalawad Road, Rajkot, India
Date of Birth/Age :	45 years
Qualification :	B. Com
Experience :	20 years
Name :	Mr. Bipinbhai Jadavbhai Parsana
Designation :	Partner
Address :	Vishwa, 3 Chitrakut Dham Society, Jaykishan Dairy St. Akshar Marg, Kalawad Road, Rajkot, India
Date of Birth/Age :	46 years
Qualification :	B. Com
Experience :	20 years
Name :	Mr. Arvindbhai Jadavbhai Parsana
Designation :	Partner
Address :	Block No.12 AB, 2 Panchawati Society, Kalawad Road, Rajkot, India
Date of Birth/Age :	42 years
Qualification :	B. Com
Experience :	15 years
Name :	Mr. Sanjaybhai Jadavbhai Parsana
Designation :	Partner
Address :	Om Block No.10, C 1Chitrakutdham Society, Akshar Marg, Rajkot, India
Date of Birth/Age :	43 years
Qualification :	B. Com
Experience :	12 years
Name :	Mrs. Jagrutiben Jagdishbhai Parsana
Designation :	Partner
Address :	Block No.12 AB, 2 Panchwati Society, Kalawad Road, Rajkot, India
Date of Birth/Age :	43 years
Name :	Mrs. Sarojben Bipin Parsana
Designation :	Partner
Address :	Vishwa, 3 Chitrakut Dham Society, Jaykishan Dairy St. Akshar Marg, Kalawad Road, Rajkot, India
Date of Birth/Age :	43 years
Name :	Mrs. Prafulaben Arvind Parsana
Designation :	Partner
Address :	Block No.12 AB, 2 Panchwati Society, Kalawad Road, Rajkot, India
Date of Birth/Age :	40 years
Name :	Mrs. Pallaviben Sanjaybhai Parsana
Designation :	Partner
Address :	Om Block No.10-C, 1 Chitrakutdham society, Akshar Marg, Rajkot, India
Date of Birth/Age :	40 years

KEY EXECUTIVES

Name :	Mr. T. Guru Prasad
Designation :	Senior Manager (Corporation Bank Pamnchavati Branch Rajkot)

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 31.01.2011)

Names of Shareholders	Percentage
Jagdishbhai Jadavbhai Parsana	12.50%
Bipinbhai Jadavbhai Parsana	12.50%
Arvindbhai Jadavbhai Parsana	12.50%
Sanjaybhai Jadavbhai Parsana	12.50%
Jagrutiben Jagdishbhai Parsana	12.50%
Sarojben Bipin Parsana	12.50%
Prafulaben Arvind Parsana	12.50%
Pallaviben Sanjaybhai Parsana	12.50%
Total	100.00%

BUSINESS DETAILS

Line of Business :

Manufacturing and Selling of C. I. Casting.

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Licensed Capacity	Installed Capacity	Operating Capacity
C. I. Casting	NA	600 M.T.P.A.	520 M.T.P.A. at Present

GENERAL INFORMATION

Customers :	· Air Grow (India) – Rajkot · Air Fil (India) - Rajkot · Kamal Valv Private Limited - Jamnagar · Mek Enterprise - Rajkot · Sigma Engineering Company - Rajkot · Industrial Founders - Mumbai · Supar Cast - Mumbai · Vivek Engineering - Jamnagar · Suraj Electricals - Morbi · Mavani Engineering Works - Rajkot · Nisheet Engineering - Jamnagar · Om Industries - Rajkot · Sanjay Fabrication Works - Mumbai · Trishul Tractors Private Limited - Gondal · Yamuna Industries - Rajkot · Angel Pumps Private Limited - Metoda (Rajkot)
Suppliers :	· Pithva Velding Works · Air Press Engineers · New Pithva Fabrication · Silver Air Company · Jay Bujarang Electric · Krishna Agri Prod. · Shree Vadaliya Trading Company · Moto Technica Power Prod. · Electro Mech Eng. · Jaydeep Trading Company
No. of Employees :	12 (Approximately)
Bankers :	· Corporation Bank Panchavati Branch, Rajkot, India

Banking Relations :	--
Auditors :
Name :	D. K. Patel and Associates Chartered Accountant
Address :	‘Varun’ 3/5 Gulab watika B/H Pyramid Towers Amin Marg, Rajkot – 360005, India
Tel. No.:	91-281-2575880
Mobile No.:	91-9374102110
Email :	dkp1966@gmail.com

CAPITAL STRUCTURE

PARTNERS CAPITAL ACCOUNT

(RS. IN MILLIONS)

Particulars	28.02.2011 (Provisional)
Bipinbhai J. Parsana	0.678
Jagdishbhai J. Parsana	0.968
Arvindbhai J. Parsana	0.419
Sanjaybhai J. Parsana	1.462
Jagrutiben J. Parsana	0.717
Sarojben B. Parsana	0.355
Prafulaben A. Parsana	0.666
Palaviben S. Parsana	0.468
Total	5.733

FINANCIAL DATA

[all figures are in Rupees Millions]

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

PARTNERSHIP FIRM

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		28.02.2011 (Provisional)
SHAREHOLDERS FUNDS
1] Share Capital		5.733
2] Share Application Money		0.000
3] Reserves & Surplus		2.004
4] (Accumulated Losses)		0.000
NETWORTH		7.737
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		3.975
TOTAL BORROWING		3.975
DEFERRED TAX LIABILITIES		0.000
TOTAL		11.712
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.193
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.343
	Sundry Debtors	2.043
	Cash & Bank Balances	0.783
	Other Current Assets	0.150
	Loans & Advances	0.000
Total Current Assets		4.319
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.702
	Other Current Liabilities	0.098
	Provisions	0.000
Total Current Liabilities		0.800
Net Current Assets		3.519
MISCELLANEOUS EXPENSES		0.000
TOTAL		11.712

PROFIT & LOSS ACCOUNT

	PARTICULARS		28.02.2011 (Provisional)
	SALES
		Income	13.191
		Other Income	0.176
		TOTAL	13.367
Less	EXPENSES
		Cost of Goods Sold	10.312
		Direct Expenses	0.830
		Telephone Bill Expenses	0.035
		Vehicles Petrol Expenses	0.102
		Legal Fees Expenses	0.015
		Electric Expenses	0.019
		Factory Expenses	0.017
		Vehicles insurance Expenses	0.011
		Other Expenses	0.022
		TOTAL	11.363
	NET PROFIT		2.004

KEY RATIOS

PARTICULARS		28.02.2011 (Provisional)
PAT / Total Income	(%)	14.99
Net Profit Margin (PBT/Sales)	(%)	15.19
Return on Total Assets (PBT/Total Assets}	(%)	16.02
Return on Investment (ROI) (PBT/Networth)		0.26
Debt Equity Ratio (Total Liability/Networth)		0.62
Current Ratio (Current Asset/Current Liability)		5.40

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PROPRIETORSHIP FIRM

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Proprietor’s Capital Account		0.966	1.750
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.966	1.750
LOAN FUNDS
1] Secured Loans		0.863	0.083
2] Unsecured Loans		2.524	1.901
TOTAL BORROWING		3.387	1.984
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		4.353	3.734
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.639	0.627
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.231	1.219
	Sundry Debtors	1.982	1.938
	Cash & Bank Balances	0.166	0.525
	Other Current Assets	0.000	0.000
	Loans & Advances	0.242	0.097
Total Current Assets		4.621	3.779
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.875	0.644
	Other Current Liabilities	0.000	0.000
	Provisions	0.032	0.028
Total Current Liabilities		0.907	0.672
Net Current Assets		3.714	3.107
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		4.353	3.734

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	13.129	12.400
		Other Income	0.811	1.106
		TOTAL (A)	13.940	13.506
Less	EXPENSES
		Cost of Goods Cost	11.519	11.519
		Manufacturing and Trading Expenses	0.814	0.633
		Administrative and Selling Expenses	0.827	0.619
		TOTAL (B)	13.160	12.771
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.780	0.735
Less	FINANCIAL EXPENSES (D)		0.082	0.067
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.698	0.668
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.096	0.096
	PROFIT BEFORE TAX (E-F) (G)		0.602	0.572
Less	TAX (H)		0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		0.602	0.572

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009
PAT / Total Income	(%)	4.32	4.24
Net Profit Margin (PBT/Sales)	(%)	4.59	4.61
Return on Total Assets (PBT/Total Assets}	(%)	11.44	12.98
Return on Investment (ROI) (PBT/Networth)		0.62	0.33
Debt Equity Ratio (Total Liability/Networth)		4.45	1.52
Current Ratio (Current Asset/Current Liability)		5.09	5.62

LOCAL AGENCY FURTHER INFORMATION

PROJECTIONS OF PERFORMANCE, PROFITABILITY AND REPAYMENT

(RS. IN MILLIONS)

Particulars	2010-11	2011-12	2012-13	2013-14	2014-15
Production during the year (Quantity) % age utilization of Installed Capacity
Sales
Sales including all miscellaneous receipts	29.649	35.346	38.125	40.852	43.579
Less Excise	0.000	0.000	0.000	0.000	0.000
Net Sales	29.649	35.346	38.125	40.852	43.579
Cost of Construction
Raw Materials Consumed	23.166	27.378	29.484	31.590	33.696
Power and Fuel	0.242	0.262	0.282	0.302	0.323
Direct Labour and Wages	1.020	1.071	1.125	1.181	1.240
Consumable Stores	0.990	1.170	1.260	1.350	1.440
Repairs and Maintenance	0.100	0.105	0.110	0.116	0.122
Other Manufacturing Expenses	0.000	0.000	0.000	0.000	0.000
Depreciation	1.449	1.285	1.142	1.013	0.900
Total Cost of Production	26.967	31.271	33.403	35.552	37.721
Add: Opening stock in Process and Finished Goods	0.200	0.528	0.600	0.641	0.682
Deduct: Opening stock in Process and Finished Goods	0.528	0.600	0.641	0.682	0.723
Cost of Sales	26.639	31.199	33.362	35.511	37.679
Gross Profit	3.010	4.147	4.763	5.341	5.900
Interests On
- Term Loans	0.889	0.887	0.684	0.481	0.279
- Working Capital (CC)	0.450	0.450	0.450	0.450	0.450
Total	1.339	1.337	1.134	0.931	0.729
Selling, General and Administrative Expenses,	0.405	0.425	0.446	0.468	0.491
Preliminary Expenses w/o and Prior Period Item	0.000	0.000	0.000	0.000	0.000
Profit Before Taxation	1.266	2.385	3.183	3.942	4.680
Provision for Taxes	0.175	0.428	0.520	0.600	0.674
Net Profit	1.091	1.957	2.663	3.342	4.006
Depreciation and Preliminary expenses W/o added back	1.449	1.285	1.142	1.013	0.900
Net Cash Accruals	2.540	3.242	3.805	4.355	4.906
Repayment Obligation
- Towards Term Loan	0.390	1.560	1.560	1.560	1.560
- Towards Other Loans	0.000	0.000	0.000	0.000	0.000
Total	0.390	1.560	1.560	1.560	1.560
Debt Services Ratio	1.88	1.69	2.00	2.37	2.82

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CASH FLOW STATEMENT

(RS. IN MILLIONS)

Particulars	2010-11	2011-12	2012-13	2013-14	2014-15
A. SOURCES OF FUNDS
Cash Accruals	2.605	3.722	4.317	4.873	5.409
Increase in Share capital/ Equity/ Preference	2.750	0.000	0.000	0.000	0.000
Depreciation	1.449	1.285	1.142	1.013	0.900
Increase in long term loans/ Debentures	7.800	0.000	0.000	0.000	0.000
Increase in Deferred Payment Facilities	0.083	0.104	0.063	0.062	0.062
Increase in unsecured loans/ Deposit	0.000	0.000	0.000	0.000	0.000
Increase in Bank Borrowing for working Capital	4.000	0.000	0.000	0.000	0.000
Sales of fixed assets/ Investments	0.000	0.000	0.000	0.000	0.000
Other – P and P W/ Off	0.000	0.000	0.000	0.000	0.000
TOTAL SOURCES	18.687	5.111	5.522	5.948	6.371
B. DISPOSITION OF FUNDS
Preliminary and Pre-Operative expenses	0.000	0.000	0.000	0.000	0.000
Increase in Capital Expenditure	11.550	0.000	0.000	0.000	0.000
Increase in Current Assets
- Inventories	1.413	0.433	0.222	0.221	0.222
- Debtors	2.742	0.949	0.463	0.455	0.454
- Others	0.050	0.025	0.025	0.025	0.025
Decrease in Long term Loans/ Debentures	0.390	1.560	1.560	1.560	1.560
Decrease in Unsecured Loans	0.000	0.000	0.500	0.800	1.000
Increase in Investments	0.000	0.000	0.000	0.000	0.000
Interests	1.339	1.337	1.134	0.931	0.729
Taxation	0.175	0.428	0.520	0.600	0.674
Withdrawals	0.600	0.800	1.000	1.200	1.400
Other Expenses	0.000	0.000	0.000	0.000	0.000
TOTAL DISPOSITION	18.259	5.532	5.424	5.792	6.064
Opening Balance	0.316	0.744	0.323	0.421	0.577
Net Surplus	0.428	(0.421)	0.098	0.156	0.307
Closing Balance	0.744	0.323	0.421	0.577	0.884

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PROJECTED BALANCE SHEET

(RS. IN MILLIONS)

Particulars	2010-11	2011-12	2012-13	2013-14	2014-15
A. Liabilities
Partners Capital	10.741	11.898	13.561	15.703	18.309
Term Loans
- Secured Loans	7.410	5.850	4.290	2.730	1.170
- Unsecured Loans	4.000	4.000	4.000	4.000	4.000
Bank Borrowing for Working Capital	4.000	4.000	4.000	4.000	4.000
Other Liabilities	0.583	0.687	0.750	0.812	0.874
DTL	0.000	0.000	0.000	0.000	0.000
TOTAL LIABILITIES	26.734	26.435	26.101	25.945	26.053
B. ASSETS
Fixed Assets
Gross Block	19.894	19.894	19.894	19.894	19.894
Less: Depreciation	1.559	2.844	3.986	4.999	5.899
Net Block	18.335	17.050	15.909	14.895	13.995
Investment	0.000	0.000	0.000	0.000	0.000
Current Assets	7.655	9.062	9.772	10.473	11.174
Cash and Bank	0.744	0.323	0.421	0.577	0.884
Misc. Expenses	0.000	0.000	0.000	0.000	0.000
TOTAL ASSETS	26.734	26.435	26.101	25.945	26.053

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ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

(RS. IN MILLIONS)

Particulars	2010-11	2011-12	2012-13	2013-14	2014-15
CURRENT LIABILITIES
A CURRENT ASSETS
Raw Materials
[a] Imported	--	--	--	--	--
Months Consumption	--	--	--	--	--
[b] Indigenous	1.985	2.346	2.527	2.707	2.888
Months Consumption	--	--	--	--	--
Other consumable spares	0.000	0.000	0.000	0.000	0.000
Stock in process	0.000	0.000	0.000	0.000	0.000
Months cost of production	--	--	--	--	--
Finished goods	0.528	0.600	0.641	0.682	0.723
Months cost of sales	--	--	--	--	--
Receivable other than export and deferred receivables [including bills purchased and discounted by bankers]	4.942	5.891	6.354	6.809	7.263
Months domestic sales	--	--	--	--	--
[excluding deferred payment sales]
Export receivables [including bills purchased and discounted by bankers]	--	--	--	--	--
(Months Export Sales)	--	--	--	--	--
Advance to suppliers (RM and Stores)	0.100	0.125	0.150	0.175	0.200
Other current Assets Including cash and bank Balance and Deffered - receivable
- Deposit	0.100	0.100	0.100	0.100	0.100
- Cash and Bank Balance	0.744	0.323	0.421	0.577	0.884
- Others	0.000	0.000	0.000	0.000	0.000
TOTAL CURRENT ASSETS	8.399	9.385	10.193	11.050	12.058
B CURRENT LIABILITIES
[Other than bank borrowing for working capital]
Creditors for purchases of raw materials and stores and consumable spares	0.463	0.547	0.590	0.632	0.674
Advances from customers	0.060	0.070	0.080	0.090	0.100
Statutory liabilities	0.000	0.000	0.000	0.000	0.000
Other current liability including short term borrowing dividend payable, installment of DPG public deposit, debentures etc	0.060	0.070	0.080	0.090	0.100
TOTAL CRRENT LIABILITIES	0.583	0.687	0.750	0.812	0.874
Working Capital Gap	7.816	8.698	9.443	10.238	11.184
Margin for Working Capital	3.816	4.698	5.443	6.238	7.184
Bank Borrowings	4.000	4.000	4.000	4.000	4.000

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RATIO ANALYSIS

Particulars	2011-12	2012-13	2013-14	2014-15	2015-16
Net Sales	29.649	35.346	38.125	40.852	43.579
% rise/ fall in net sales during the yr. as compared to the previous year	NA	19.21%	7.86%	7.15%	6.68%
Gross Profit	3.010	4.147	4.763	5.341	5.900
Gross Profit Ratio (3/1*100)	10.15%	11.73%	12.49%	13.07%	13.54%
Net profit after tax	1.091	1.957	2.663	3.342	4.006
Net profit Ratio (5/1*100)	3.68%	5.54%	6.99%	8.18%	9.19%
Retained profit	0.491	1.157	1.663	2.142	2.606
Retained profit as % of net profit	45.01%	59.11%	62.45%	64.09%	65.05%
Current Assets
i) Stock	2.513	2.946	3.168	3.389	3.611
ii) Book Debt	4.942	5.891	6.354	6.809	7.263
iii) Deposit	0.100	0.100	0.100	0.100	0.100
iv) Advances and Others	0.100	0.125	0.150	0.175	0.200
v) Cash and Bank Balance	0.744	0.323	0.421	0.577	0.884
Current Liabilities
i) Cash Credit Facility	4.000	4.000	4.000	4.000	4.000
ii) Sundry Creditors	0.463	0.547	0.590	0.632	0.674
iii) Advance payments	0.060	0.070	0.080	0.090	0.100
iv) Other Current Liabilities	0.060	0.070	0.080	0.090	0.100
Current Ratio	1.83	2.00	2.15	2.30	2.47
Net working capital	3.816	4.698	5.443	6.238	7.184
Tangible net worth	10.741	11.898	13.561	15.703	18.309
Total Bank Borrowing (Term Loan)	7.410	5.850	4.290	2.730	1.170
Debt Equity Ratio	0.69	0.49	0.32	0.17	0.06
Break Even Analysis
Variable Cost:
1. Raw Material	23.166	27.378	29.484	31.590	33.696
2. Electricity Expenses	0.242	0.262	0.282	0.302	0.323
3. Direct Labour	1.020	1.071	1.125	1.181	1.240
5. Consumable Stores	0.990	1.170	1.260	1.350	1.440
6. Repairs and Maintenance	0.100	0.105	0.110	0.116	0.122
Fixed Cost:
1. Depreciation	1.449	1.285	1.142	1.013	0.900
2. Interest on:
Term Loans	0.889	0.887	0.684	0.481	0.279
Working Capital	0.450	0.450	0.450	0.450	0.450
3. Selling, General and Adm. Expenses	0.405	0.425	0.446	0.468	0.491
4. Income Tax	0.175	0.428	0.520	0.600	0.674
BEP Turnover [FC/{l-(VC/S)}]	24.173	22.916	21.075	19.494	18.017
BEP Quantity (In M. T.) = F.C./ (S.P.P.U -V.C. P.U.)	532	530	492	455	420

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APPLICATION FORM

Location Advantaged of existing and/or Proposed with reference to

Absence of civic restrictions

Situated in Industrial area

Proximity to the source of Raw materials

Available locally in Rajkot

Market for the products

All over India

Availability of

- Power

20 HP connection is installed

- Water

Own Borewell – 500 Ft.

- Labour

Available locally at Rajkot

- Transport

Rajkot is well connected through Road, Rail and Air Transport

Whether Clearance has been obtained from the pollution control authority

Yes

Land and Building

Particulars	Existing (Owned by the Partners)		Proposed
	Area	Value	Area	Value
Factory Land	556.07 Sq. mtrs.	Market Value Rs.2.000 Millions (Owned by the Partner)	7213.42 Sq. Mtrs.	Rs.6.550 Millions
Factory Building	277.67 Sq. mtrs.		1516.24 Sq. Mtrs.	Rs.10.500 Millions
Ancillary Building	--		--	--
Open Storage Space	--		--	--

ECONOMIC FEASIBILITY

Extent of competition and No of Units engaged in similar line in the area

The extent of competition is moderate in this industries almost 10-15 units are engaged in the same line of business in the area.

How does the units meet/ Propose to meet the competition (comment on the competitive advantages enjoyed by the unit)

Through the wide experience enjoyed by promoters unit will be able to produce high quality products and thus will meet the competition.

In price and quality, how does the units product compare with those of its competitors

Unit is providing bet quality products at very competitive price.

Is the unit selling direct to its customers? If so, please furnish details like sale force show rooms, depots etc.

Unit is selling its products directly to its customers from factory premises.

Financial Assistance Required

Rupee Loan

Term Loan of Rs.7.800 Millions

Working Capital

Rs.4.000 Millions

Repayment Programme

1) Cash Credit Facility of Rs.4.0.00 Millions repayable on demand.

2) Term Loan of Rs.7.800 Millions repayable in 22 qtly installments including moratorium of 6 months.

Details of securities to be offered Primary

1) C/C Facility: Rs.4.000 Millions Hypothecation of Book Debts and Stocks.

2) Term Loan: EMG of Factory land and building cost rs.17.050 Millions and Hypothecation of Plant and Machineries cost Rs.2.000 Millions

DETAILS OF EXISTING FIXED ASSETS

A. Land	Proposed	Existing
Location	Plot No.G-1306, GIDC- Lodhika, Industrial Estate, Rajkot	Existing Land at Atika, Dhebar Road, (South), Rajkot Owned by Partners.
Area	7213.42 Sq. Mtrs.
Whether Freehold or Leaseholder	Leasehold
Purchase price of Land, if Owned	Rs.6.550 Millions
Rent in Case of Leasehold Land	NA
Terms of Lease	NA
Ground Rent Payable per Year	NA
B. Building
Location	Plot No.G-1306, GIDC- Lodhika, Industrial Estate, Rajkot
Whether Owned or Leaseholder	Owned (Constructed)
Purchaser price of Building, if owned	Construction cost proposed Rs.10.500 Millions
Rent in case of Leased/ Rented Premises	NA
Terms of Lease	NA

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INTRODUCTION

Subject was started way back in 1995 as a proprietory concern by Mr. Bipinbhai Jadavbhai Parsana at a very small place at Atika, Dhebar Road (South), Rajkot. The unit is engaged in the business of manufacturing and selling of C.I. Casting.

With the wish of expansion of business and cover major portion of market for the products of the unit Bipinbhai has converted the said proprietary concern into the partnership firm by inclusion of family members namely 1) Mr. Jagdishbhai Jadavbhai Parsana, 2) Mr. Arvindbhai Jadavbhai Parsana, 3) Mr. Sanjaybhai Jadavbhai Parsana, 4) Mrs. Jagrutiben Jagdishbhai Parsana, 5) Mrs. Sarojben Bipinbhai Parsana, 6) Mrs. Prafulaben Arvindbhai Parsana and 7) Mrs. Pallaviben Sanjaybhai Parsana with the equal profit and loss sharing ratios of all the eight partners from 11th March, 2010. Now to expand the production capacity the partners wants to shift at big place and for the purpose they have already purchased an industhal plot of land admeasuring 7206:38 sq. mfr. at GIDC Metoda.

The continuous growth in business necessitated larger working place and expansion in production capacity which was not possible without infusion of funds, additional place and working hand. Family members have decided to jçin the flagship concern “Die - Cast Industries”. The partnership was formed on 11.3.2010 with eight partners as mentioned hereinabove. However, the business is started w.e.f. 01-04-2010. In the very first year in first 11 months upto 28-02-2011 concern have achieved turnover of Rs.13.366 Millions. The future demand and business prospects promoters have decided to expand their business. For expansion they have identified and acquired land at GIDC Metoda.

Cost of expansion will be Rs.22.100 Millions. For this unit requires fresh term loan of Rs.7.800 Millions and the cash credit facility of Rs.4.000 Millions from bank.

Detailed Cost of Project, Means of Finance, Projected Profitability Statement, Projected Cash Flow and Projected Balance Sheet given m this project report

BACKGROUND OF PROMOTERS

Mr. Bipinbhai Jadavbhai Parsana:

He is resident of Rajkot, residing at ‘Vishwa, 3 - Chitrakut Dham Soc., Jaykishan Dairy Street, Akshar Marg, Kalawad Road, Rajkot- 360 001. He is in the business of Casting Industry since 1995. He began his career as a manufacturer of C.I. Casting in the Proprietary concern named “Die - Cast Industries”. Since then he is running this business very successfully. By working experience he acquired necessary technical skills and expertise to run the business. He has also gained the knowledge and guidance from his father to run the business. He is hard working, honest and humble. He always believes in value addition and devotes his 100% to serve the nation by developing his business and thus serving the society. His estimated Net Worth is Rs.6.128 Millions.

Mr. Jagdishbhai Jadavbhai Parsana:

He is resident of Rajkot, residing at Block No. 12 AB, 2- Panchwati Society, Kalawad Road, Rajkot - 360005. He is elder brother of Bipinbhai, working partner of “Die - Cast Industries”. He has 10 years experience of Casting Industries. He is also Partner in Perfect Casting (Manufacturer of C.I. Casting) with share of 50% since 2001. He is working partner looking after overall management of the business. His estimated Net Worth comes to Rs.6.033 Millions.

Mr. Arvindbhai Jadavbhai Parsana:

He is resident of Rajkot, residing at Block No. 12 AB, 2 - Panchwati Society, Kalawad Road, Rajkot - 360 005. He is younger brother of Jagdishbhai and Bipinbhai, working partners of “Die - Cast Industries”. He has 14 years experience of Business. He was Partner in Microcomp System from 1996 to 2010. He is working partner in the unit looking after Marketing of Product. His estimated Net Worth comes to Rs.4.012 Millions.

Mr. Sanjaybhai Jadavbhai Parsna:

He is resident of Rajkot, residing at Om Block No. 10 C, 1 - Chitrakutdham Soc., Aksharmarg, Rajkot - 360001. He is younger brother of Jagdishbhai, Bipinbhai and Arvindbhai, working partners of “Die - Cast Industries”. He has 15 years experience of Casting Industries. He had work as an employee in the subject. He is working partner looking after Accounting and Financial work in the Firm. His estimated Net Worth comes to Rs.2.990 Millions.

Mrs. Jagrutiben Jagdishbhai Parsana:

She is resident of Rajkot, residing at Block No. 12 AB, 2 - Panchwati Society, Kalawad Road, Rajkot - 360 005. She is wife of Jagdishbhai, working partner of “Die - Cast Industries”. She is Financial Partner in subject. She is contributing funds in this unit. Her estimated Net Worth comes to Rs.1.076 Millions.

Mrs. Saroj Bipin Parsana

She is resident of Rajkot, residing at “Vishwa11, 3 - Chitrakut Dham Soc., Jaykishan Dairy Street, Akshar Marg, Kalawad Road, Rajkot - 360 001. She is wife of Bipinbhai, working partner of subject. She is Financial Partner in Subject. She is contributing funds in this unit. Her estimated Net Worth comes to Rs.0.947 Millions.

Mrs. Prafula Arvind Parsana:

She is resident of Rajkot, residing at Block No. 12 AB, 2- Panchwati Society, Kalawad Road, Rajkot - 360 005. She is wife of Arvindbhai, working partner of subject. She Was Partner in Microcomp System along with her husband from 1996 to 2010. She is Financial Partner in subject. She is contributing funds in this unit. Her estimated Net Worth comes to Rs.1.422 Millions.

Mrs. Pallavi Sanjaybhai Parsana

She is resident of Rajkot, residing at “Om”, Block No. 10 C, 1’ - Chitrakutdham Soc., Aksharmarg, Rajkot - 360 001. She is wife of Sanjaybhai, working partner of “Die - Cast Industries”. She is Financial Partner in subject. She is contributing funds in this unit. Her estimated Net Worth comes to Rs.2.089 Millions.

MANUFACTURING PROCESS

Manufacturing Process of C. I. Casting can be described as under:

Breaking of C. I. Scrap:

The main raw material i.e., Cast Iron is available in scrap in solid lump form. The lump or big pieces needs to be broken into small one manually with the help of big hammers.

Mould Making:

For getting the required finished product, mould is to be prepared as per the product specification. These moulds are made of Red clay, Foundry clay, Bentonite, Silicon, Innoclin, Limestone, Graphite, Fire Bricks, etc. The moulds are prepared on the ground with the help of patterns supplied by the customers.

Melting:

The broken pieces of C. I. are filled into cupola furnace along with coal/ coke. The fully filled-up furnace is then fired with the help of blower. After getting fired C. I. gets started melting into liquid form.

Collection of Material:

Melted C. I. is then collected into buckets from the outlet at the bottom of cupola. The waste material is collected through another out let and thrown away.

Pouring:

Collected liquid C. I. is immediately poured into moulds prepared for requisite finished product.

Collection of Finished Product:

After few hours the liquid material looses its temperature and becomes solid product by natural cooling process. Thereafter, the mould is break open and finished product is being collected out of it. Product is them put for minor cleaning of edges etc. on lathe machine. The final product is then move to store for dispatch.

RAW MATERIALS:

For the production of C.I. Casting items C. I. Scrap, Pig Iron and Coal is required. To produce 1 MT of finished C. I. Casting 1.10 MT of C.I Scrap and Pig Iron is required. Burning loss and wastage during conversion of raw material into finished product is estimated at 10%. C.I. Scrap is available in local market through dealers. The major steel plants while manufacturing steel gets this as by product. This is available in form of big lumps. C. I. Scrap and Pig Iron is available in Rajkot through various dealers and also many producers/ companies having their depots and stockiest here. The other main item which is required in the manufacturing process is cock. Cock is used to melt C. I. Scrap and Pig Iron. To get 1 MT of Finished Casting 0.25 MT coal is required. It cannot be said a raw material items instead can be named as and additive. Cock is also available in Rajkot through various dealers and also many producers/ companies having their depots and stockiest here.

CONSUMABLE STORES:

To manufacture C. I. Casting consumables such as Fire Bricks, Red Clay, Foundry clay, Bentonite, Silicon, Innoclin, Limestone, Graphite, etc. are required in Cupola Foundry and for preparation of moulds. The cost of such consumables is estimated to be Rs.1,500 per M.T. of finished casting. These are available in plenty in Rajkot through various dealers and stockiest of various manufacturers.

TECHNICAL KNOW - HOW

Unit is engaged in the manufacturing of C. I. Casting which does not require much technical know-how. Unit has already received the quotations for various Plant and Machineries, required at the it New Place from: New Pithwa Fabrication and Acme Industries, Rajkot. They are the market leaders in manufacturing machineries required for casting unit. Various Casting units in Rajkot, Shapar, Veraval, Metoda and surroundings are successfully running their business having installed machineries supplied by above suppliers of machineries. Four partners namely Jagdishbhai Parsana, Bipinbhai Parsana, Arvindbhai Parsana and Sanjaybhai Parsana are having experience of running same line of business for more than last 15 years thus acquired sufficient technical knowledge and experience of manufacturing C. I. Casting.

INFRASTRUCTURE FACILITIES

The location of the unit site and infrastructure facility available in surrounding is the most important factor for an industrial unit. The partners of subject have carefully studied these aspects with reference to their individual requirements and its availability in the area while establishing unit.

Brief details regarding infrastructure facilities required for the unit and its availability is discussed hereunder:-

A] Location

The factory site of the unit is presently situated at Opposite Kanta Gas Godwon, Atika, Dhebar Road (South), Rajkot - 360 002. All the partners have decided to shift to a larger place at Plot No. G-1306 at Lodhika Industrial Estate. This is one of the fastest developing industrial areas in Rajkot. The proposed location is only 12 kms. from the city of Rajkot and well connected with road. And hence unit has got the location advantage in this sense.

B] Man Power

After expansion total manpower strength will be more than 15 persons of various categories such as Supervisors, Skilled Labourers, Unskilled Labourers, Salesmen and Office and Administrative staff. All the required staffs are easily available in Metoda and Rajkot.

C] Electric Power

Unit is having 20 HP LTP-1 power connection installed to its existing production facility. Additional 35 HP power connection will be required for new production facility for expansion. Required power connections will be obtained from PGVCL after payment for deposits, cost for installation of cable, TC etc. Unirterrupted power supply is available in this area.

D] Transportation

As mentioned above the proposed location is only 12 kms. from the city of Rajkot and Frequent road transport facility is available to this area.

E] Communication

Speedy and proper Communication is the pre-requisite of every business. Considering this, promoters will make proper arrangement for internet, telephone and fax lines. In addition to this partners and many staff members are having mobile phone discharging business needs. The postal and courier services are also available.

F] Banking Services

Rajkot city is one of the leading cities of Gujarat State where more than 180 Branches of different Nationalized, Private and Co-operative Banks are operating. The unit at present enjoys banking with Corporation Bank, Panchvati Branch, Rajkot.

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COST OF PROJECT

Particulars	Amount (Rs. In Millions)
Land	6.550
Factory building	10.500
Plant Machinery	2.000
Misc. Fixed Assets (Furniture and Fixtures)	0.050
Working Capital Margin	3.000
Total	22.100

MEANS OF FINANCE

Particulars	Amount (Rs. In Millions)
Partner’s Capital	2.750
Capital Expenditure Incurred to Date
- Land Purchased	6.550
- Capital WIP – Factory Building Construction	1.000
	7.550
Deposits from Family Members	4.000
Term Loan From Bank
- On building (60% of the Cost)	6.300
- On Plant and Machinery (75% of the cost)	1.500
	7.800
Total	22.100

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LAND

Subject is having its existing casting unit at a very small place at Atika area, Dhehar Road (South), Rajkot. Looking to the future growth of Business promoters have decided expand and shift existing unit to bigger place. For expansion and shifting they have selected Lodhika GIDC, one of the fastest developing industrial area near Rajkot. Firm has already acquired one big plot of land (admeasuring 7,213.42 sq myr) in GIDC details given below: -

Particulars	Amount (Rs. In Millions)
Plot No.G-1306, GIDC Lodhika, Kalawad Road, Metoda. Land area 7,213.42 sq mtr	6.550
Total	6.550

FACTORY BUILDING

A suitable factory building is being constructed for this project. The proposed factory building will be consisting of Factory Shed, Workshop, Open Sorage area, Washroom, Toilet blocks, Internal road and Compound Wall. A detailed construction plan as approved by the authorities enclosed herewith. The total cost of construction of the factory building as per the estimates worked out by the Architect is Rs.10.500 Millions.

Particulars	Amount (Rs. In Millions)
COST OF CONSTRUCTION Estimated Cost of Construction of Factory Building	10.500
Total	10.500

INSTALLED CAPACITY, CAPACITY UTILIZATION AND PRODUCTION

Installed Capacity:

At present Unit is operating at its existing place with an installed capacity of 50 MT per month. At GIDC after shifting and expansion Installed capacity of the Plant and Machinery will be 100 MT per month. Such installed capacity is derived on the basis of the past experience of business, specification from the suppliers of the machineries as well as its usance and various underlying assumptions. Basis for annual installed capacity of the Plant and Machineries and its working given under:

Installed Capacity of proposed plant at 100% Capacity Level:

1 Installed Capacity per shift (One shift of 8 hours)	4.00 MT
2 No. of Shifts per day	1 Shift
3 No. of working days in a year	300 Days
4 Installed capacity of the Plant and Machinery [lx 2x 3]	1,200 MTPA
Or Say	100 MT/Month

Capacity Utilization and Production:

Partners of this project is anticipating 60% utilisation of the enhanced installed capacity of plant in the very first year after expansion and an increase of 5% p.a. over previous year for subsequent years is anticipated. Year wise capacity utilisation and production in future will be as under:

Particulars	Years (Qty in MT)
	2011-12	2012-13	2013-14	2014-15	2015-16	2016-17
Installed Capacity	1,200	1,200	1,200	1,200	1,200	1,200
Capacity Utilisation	60%	65%	70%	75%	80%	85%
Production	660	780	840	900	960	1,020
Opening Stock of FG	5	13	15	16	17	18
Closing Stock of FG	13	15	16	17	18	20
Sales Quantity	652	778	839	899	959	1,019

Note: Production in the new unit at GIDC will start w.e.f. 01-07-2011, therefore capacity utilisation for the year 2011-12 worked out separately as under:

(Year 2011-12)

Installed Capacity	Capacity Utilisation	Production
Existing 600 MTPA	April 11 to June 2011 @ 40 MT per month	120
Expanded 1,200 MTPA	July’11 to March’ 12 @75MT per month i.e. 60% of installed capacity 125MT/ month	540
Total		660

PROJECTED SALES TURNOVER

Selling Price of C. I. Casting is presently varying from Rs.44,500 to Rs.48,500 per M.T. based on the size and specification of the finished product ordered by the buyer. Following the conservation principle, they have considered sales price of the finished goods @ Rs.45,000 per MT for future projections. Based on this, year wise sales value is derived as under:

Years	Quantity (MT)	Amount (Rs. In millions)
2011-12	652	29.355
2012-13	778	34.996
2013-14	839	37.748
2014-15	899	40.448
2015-16	959	43.148
2016-17	1,019	45.848

PROJECTED JOBWORK INCOME

Apart from sales they are doing Job Work of Casting Products and based on the past experience and trend their job-work income is around 1.5 percent of sales turnover. Considering the principle of prudence they have taken lower expectation i.e. 1.00% of sales turnover as their job-work income.

Years	Turnover (Rs. In Millions)	Amount (Rs. In millions)
2011-12	29.355	29.400
2012-13	34.996	35.000
2013-14	37.748	37.700
2014-15	40.448	40.400
2015-16	43.148	43.100
2016-17	45.848	45.800

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MR. JAGDISHBHAI JADAVBHAI PARSANA

BIO-DATA FORM

Full Name

Mr. Jagdishbhai Jadavbhai Parsana

Capital/Loan contribution in the unit Capital

At the Beginning

At Present (31/01/2011)

Rs.0.250 Million

Rs.1.002 Million

Functional responsibility in that concern

50% Shares

Capital Contribution

Rs.2.554 Millions

Name of the associate concern’s Banker and their address

Rajkot PeoplesCoop Bank Limited

Working results of the units for the past three years: (Rs. In Millions)

Name of the Associates	Year 2010		Year 2009		Year 2008
	Turnover	Profit	Turnover	Profit	Turnover	Profit
Perfact Casting	29.766	0.700	17.959	0.560	11.354	0.322

STATEMENT OF ASSETS AND LIABILITIES

MR. JAGDISHBHAI JADAVBHAI PARSANA

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in which investment is made	Amount Invested (Rs. In Millions)
Die – Cast Industries	1.002
Perfect Casting	2.554
Total	3.556

DEPOSIT HELD WITH BANKS

Name of the Bank	Nature of Deposit held	Amount of Deposit (Rs. In Millions)
Corporation bank	Saving Bank a/c - 2097	0.005
RNSB	Saving Bank a/c - 5794	0.003
Total		0.008

LIFE INSURANCE POLICIES

Date of Policy	Policy No.	Whether Endowment policy or Whole Life policy	Annual Premium	Sum Assured (Rs. In Millions)	Surrender value as on 29/01/2011 (Rs. In Millions)
28.05.2004	812368070	Endowment policy	4,666	0.100	0.017
28.05.2004	812368071	Endowment policy	4,501	0.100	0.016
28.05.2004	812368072	Endowment policy	4,350	0.100	0.015
28.05.2004	812368073	Endowment policy	4,283	0.100	0.015
28.09.2004	812368074	Endowment policy	4,166	0.100	0.014
Total					0.077

IMMOVABLE PROPERTY

Name of the Owner	Description of Property	Location/Address of property	Extent of land	Type of property
Self with brother	Residential Purpose Land	Rajkot, RS No. 431, Plot No. 53.	332.8 Sq. Yard	Residential Purpose Land
Self with brother	Purposed Land	Vil. Dhandhaniya Pipaliya, Tal. Kalawad, S No. 76	16 Acers	Agricultural Land

Details of documents conferring right	Date of purchase of property	Original purchase cost (Rs. in Millions)	Present Market value as on 31.01.2011 (Rs. in Millions)
Sale deed No.5641	17.08.1987	0.008 ½ Shares	2.400
Sale deed No.608	02.07.2008	0.030 1/5^th Share	0.100
		0.038	2.500

GOVERNMENT SECURITIES/ NATIONAL SAVING CERTIFICATES/SHARES OF LISTED COMPANIES/ UNITS OF UNIT TRUST OF INDIA ETC.

Description of security	Face Value (Rs. In Millions)	Market Value as on 31.01.2011 (Rs. In Millions)
Tata lron and Steel Limited	0.015	0.015
Reliance Power Limited	0.007	0.007
Investment in Shares	0.046	0.046
Total	0.068	0.068

OTHERS ASSETS

INCLUDING MOVABLE ASSETS LIKE FURNITURE AND FIXTURE/ PLANT AND MACHINERY/ VEHICLES/ JEWELS, ETC.

Nature/ Details of assets	Market value of assets as on 31.01.2011 (Rs. In Millions)
Cash in Hand	0.033
Advance Tax	0.040
Income Tax Refund (Receivable)	0.003
Total	0.076

TOTAL ASSETS

RS.6.285 MILLIONS

LIABILITIES

BORROWINGS FROM OTHERS

Name of the lender	Amount Borrowed (Rs. In Millions)
1) Savitaben J. Parsana	0.019
2) Jadavjibhai D. Parsana- HUF	0.130
3) Jagdishbhai J. Parsana- HUF	0.060
4) Sanjaybhai J. Parsana	0.040
Total	0.249

TOTAL LIABILITIES

RS.0.249 MILLION

NET WORTH

RS.6.036 MILLIONS

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MR. SANJAYBHAI JADAVBHAI PARSANA

BIO-DATA FORM

Full Name	Mr. Sanjaybhai Jadavbhai Parsana
Capital/Loan contribution in the unit Capital	At the Beginning	At Present (31/01/2011)
	Rs.0.110 Million	Rs.1.466 Million

STATEMENT OF ASSETS AND LIABILITIES

MR. SANJAYBHAI JADAVBHAI PARSANA

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in which investment is made	Amount Invested (Rs. In Millions)
Die – Cast Industries	1.466
Total	1.466

DEPOSIT HELD WITH BANKS

Name of the Bank	Nature of Deposit held	Amount of Deposit (Rs. In Millions)
Corporation bank	Saving Bank a/c – 2102	0.041
RNSB	Saving Bank a/c - 5774	0.004
Total		0.045

DEPOSIT HELD WITH COMPANIES/ OTHER

Name of the Companies/ Other	Nature of Deposit	Amount of Deposit (Rs. In Millions)
Jagdishbhai J. Parsana	Unsecured Loan	0.040
Total		0.040

LIFE INSURANCE POLICIES

Date of Policy	Policy No.	Whether Endowment policy or Whole Life policy	Annual Premium	Sum Assured (Rs. In Millions)	Surrender value as on 29/01/2011 (Rs. In Millions)
15.01.1996	812209306	Endowment policy	3,905	0.050	0.026
28.02.1997	811185157	Endowment policy	3,041	0.300	0.012
28.11.1997	810143941	Endowment policy	6,326	0.100	0.053
28.02.2000	812290613	Endowment policy	3,190	0.050	0.015
27.11.2002	812333774	Endowment policy	32,664	0.500	0.160
28.09.2006	813144885	Endowment policy	22,101	0.500	0.052
28.10.2006	813144888	Endowment policy	22,141	0.500	0.050
Total					0.368

IMMOVABLE PROPERTY

Name of the Owner	Description of Property	Location/Address of property	Extent of land	Type of property
Self with 4 others	Agricultural Land	Vil. Dhandhaniya Pipaliya, Tal. Kalawad, S No. 76	6-47-50 Hectare	Agricultural Land
Self with 2 Others	Industrial Land	Atika, Rajkot, RS No.323/7/306, Plot No.11	701.4 sq. Yard	Industrial Land
Self with 1 Others	Agricultural Land	Motamova, RS No.104/P3, Sagiyari	2.19 Acers	Agricultural Land

Details of documents conferring right	Date of purchase of property	Original purchase cost (Rs. in Millions)	Present Market value as on 31.01.2011 (Rs. in Millions)
Sale deed No.608	02.07.2008	0.035 1/5^th Shares	0.100
Sale deed No.6281	08.05.1995	0.065 1/3^rd Share	0.500
Sale deed No.4898	24.07.2009	1.072 1/2^nd Share	1.500
		1.172	2.100

GOVERNMENT SECURITIES/ NATIONAL SAVING CERTIFICATES/SHARES OF LISTED COMPANIES/ UNITS OF UNIT TRUST OF INDIA ETC.

Description of security	Face Value	Market Value as on 31.01.2011 (Rs. In Millions)
National Highway Authority	Investment	0.800
Total		0.800

OTHERS ASSETS

INCLUDING MOVABLE ASSETS LIKE FURNITURE AND FIXTURE/ PLANT AND MACHINERY/ VEHICLES/ JEWELS, ETC.

Nature/ Details of assets	Market value of assets as on 31.01.2011 (Rs. In Millions)
Air Conditioner	0.024
Syntex Solar Water Heater	0.006
Vehicles	0.050
Mobile Phone	0.009
Income Tax Refund	0.001
Cash on Hand	0.026
Total	0.116

TOTAL ASSETS

RS.4.935 MILLIONS

LIABILITIES

BORROWINGS FROM OTHERS

Name of the lender	Amount Borrowed (Rs. In Millions)
Sanjaybhai J. Parsana HUF	0.055
Jadavjibhai D. Parsana- HUF	0.090
Jadavjibhai D. Parsana	0.100
Vijay Saulatsinh Chauhan –HUF	1.500
Shilpa Pankajbhai Bavara	0.200
Total	1.945

TOTAL LIABILITIES

RS. 1.945 MILLIONS

NET WORTH

RS.2.990 MILLIONS

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MR. ARVINDBHAI JADAVBHAI PARSANA

BIO-DATA FORM

Full Name	Mr. Arvindbhai Jadavbhai Parsana
Capital/Loan contribution in the unit Capital	At the Beginning	At Present (31/01/2011)
	Rs.0.600 Million	Rs.0.419 Million

STATEMENT OF ASSETS AND LIABILITIES

MR. ARVINDBHAI JADAVBHAI PARSANA

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in which investment is made	Amount Invested (Rs. In Millions)
Die – Cast Industries	0.419
Total	0.419

DEPOSIT HELD WITH BANKS

Name of the Bank	Nature of Deposit held	Amount of Deposit (Rs. In Millions)
RNSB	Saving Bank a/c – 5759	0.013
Corporation Bank	Saving Bank a/c – 2101	0.025
Corporation Bank	Saving Bank a/c – 5459	0.036
ICICI Bank	S/B A/c	0.048
Microcomp System (Receivable)	Deposit	0.022
Perfect Casting	Deposit	1.900
Total		2.044

DEPOSIT HELD WITH COMPANIES/ OTHER

Name of the Companies/ Other	Nature of Deposit	Amount of Deposit (Rs. In Millions)
Desing Studio	Deposit	0.050
Jadavjibhai D. Parsana	Deposit	0.050
Shree Panchavati Co-operative Housing Society	Deposit	0.050
P v Patel Education Trust	Deposit	0.010
Total		0.160

LIFE INSURANCE POLICIES

Date of Policy	Policy No.	Whether Endowment policy or Whole Life policy	Annual Premium	Sum Assured (Rs. In Millions)	Surrender value as on 29/01/2011 (Rs. In Millions)
28.02.1997	810136266	Endowment policy	6,350	0.100	0.061
28.11.1997	810144023	Endowment policy	6,380	0.100	0.053
28.11.1997	810144024	Endowment policy	3,405	0.300	0.013
28.02.2000	812290497	Endowment policy	3,221	0.050	0.015
28.11.2002	812333773	Endowment policy	33,106	0.500	0.160
28.11.2002	812334442	Endowment policy	4,227	0.300	0.010
28.07.2006	813144883	Endowment policy	22,562	0.500	0.052
28.08.2006	813144884	Endowment policy	22,603	0.500	0.051
Total					0.415

IMMOVABLE PROPERTY

Name of the Owner	Description of Property	Location/Address of property	Extent of land	Type of property
Self with 4 others	Agricultural Land	Vil. Dhandhaniya Pipaliya, Tal. Kalawad, S No. 76	16 Acers	Agricultural Land
Self	Residential Purpose Land	Rajkot, RS No.431, Plot No.56	139.7 Sq. Yard	Residential Purpose Land
Self with 2 Others	Industrial Land	Atika, Rajkot, RS No.323/7/306, Plot No.11	701.4 Sq. yard	Industrial Land
Self	Residential House- Land and Construction	RS No.429,436 and 654, Plot No.29/B, Panchavati Co-operative Housing Society Limited	250.83 Sq. Mtrs.	Residential House- Land and Construction

Details of documents conferring right	Date of purchase of property	Original purchase cost (Rs. in Millions)	Present Market value as on 31.01.2011 (Rs. in Millions)
Sale deed No.608	02.07.2008	0.035 1/5^th Shares	0.100
Sale deed No.5645	17.08.1987	0.019	1.000
Sale deed No.4281	08.05.1995	0.065 1/3^rd Share	0.500
Sale deed No.7941	30.05.2007	2.289 1.325	4.000
		3.733	5.600

GOVERNMENT SECURITIES/ NATIONAL SAVING CERTIFICATES/SHARES OF LISTED COMPANIES/ UNITS OF UNIT TRUST OF INDIA ETC.

Description of security	Face Value	Market Value as on 31.01.2011 (Rs. In Millions)
Reliance Petro Limited	0.007	0.007
Reliance Power Limited	0.007	0.007
REC Limited	0.013	0.013
Omex Limited	0.006	0.006
ICICI Bank	0.096	0.096
ICICI Prud. Life Insurance fund	0.050	0.050
Total	0.179	0.179

OTHERS ASSETS

INCLUDING MOVABLE ASSETS LIKE FURNITURE AND FIXTURE/ PLANT AND MACHINERY/ VEHICLES/ JEWELS, ETC.

Nature/ Details of assets	Market value of assets as on 31.01.2011 (Rs. In Millions)
Air Conditioner	0.020
Cash on Hand	0.063
Total	0.083

TOTAL ASSETS

RS.8.900 MILLIONS

LIABILITIES

CREDIT LIMIT / FACILITIES WITH FINANCIAL INSTITUTIONS AND BANK

Name of the Institution/ Bank	Details of Nature and extent of Credit limits/ Facilities enjoyed		Details of securities furnished
	Nature of Facilities	Extent (Rs. in Millions)
Corporation Bank PBB Branch	H/L A/c No.90026	1.175	Residential Flat
Total		1.175

BORROWINGS FROM OTHERS

Name of the lender	Amount Borrowed (Rs. In Millions)
Arvindbhai J. Parsana – HUF	0.580
Prafulaben A. Parsana	0.280
Kishorbhai J. Suvagiya	0.040
Bipinbhai J. Parsana – HUF	0.380
Jagdishbhai J. Parsana	0.740
Sanjaybhai J. Parsana HUF	0.360
Malti Vijay Chauhan	0.300
Ishita D. Chauhan	0.500
Babulal D. Sanghani	0.500
Total	3.680

OTHER LIABILITIES

Nature of Liability	Extent of Liabilities as on 31.01.2011
Krishna Pipes and Sanitery Works (Creditors)	0.010
Jay Sales Corpo (Creditors)	0.023
Total	0.033

TOTAL LIABILITIES

RS.4.888 MILLIONS

NET WORTH

RS.4.012 MILLIONS

DETAILS OF EXISTING GUARANTEE OBLIGATIONS

Name of the Principal debtors on whose behalf guarantee is furnished	Extent to which guarantee is furnished		Name of the Creditors
	Sanction Limit	Outstanding as on 31.01.2011
Arvindbhai Jadavbhai Parsana (Housing Loan)	Rs.2.000 Millions	Rs.1.175 Millions	Corporation Bank PBB Branch

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MRS. JAGRUTIBEN JAGDISHBHAI PARSANA

BIO-DATA FORM

Full Name	Mr. Jagrutiben Jagdishbhai Parsana
Capital/Loan contribution in the unit Capital	At the Beginning	At Present (31/01/2011)
	Rs.0.011 Million	Rs.0.717 Million

STATEMENT OF ASSETS AND LIABILITIES

MRS. JAGRUTIBEN JAGDISHBHAI PARSANA

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in which investment is made	Amount Invested (Rs. In Millions)
Die – Cast Industries	0.717
Total	0.717

DEPOSIT HELD WITH BANKS

Name of the Bank	Nature of Deposit held	Amount of Deposit (Rs. In Millions)
RNSB	Saving Bank a/c – 6388	0.015
Corporation Bank	Saving Bank a/c – 2099	0.069
Corporation Bank	Fixed Deposit	0.015
Total		0.099

DEPOSIT HELD WITH COMPANIES/ OTHER

Name of the Companies/ Other	Nature of Deposit	Amount of Deposit (Rs. In Millions)
S.K.S.E. Limited	Security	0.050
S.K.S.E. Limited	Deposit	0.066
S.K.S.E. Limited	Membership Fees	0.100
S.K.S.E. Limited	Share Deposit	0.005
PVPST Educational Ser.	Deposit	0.022
Total		0.243

OTHERS ASSETS

INCLUDING MOVABLE ASSETS LIKE FURNITURE AND FIXTURE/ PLANT AND MACHINERY/ VEHICLES/ JEWELS, ETC.

Nature/ Details of assets	Market value of assets as on 31.01.2011 (Rs. In Millions)
Income Tax Refund (Receivable)	0.005
Cash on Hand	0.012
Total	0.017

TOTAL ASSETS

RS.1.076 MILLIONS

NET WORTH

RS.1.076 MILLIONS

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MRS. SAROJ BIPIN PARSANA

BIO-DATA FORM

Full Name	Mrs. Saroj Bipin Parsana
Capital/Loan contribution in the unit Capital	At the Beginning	At Present (31/01/2011)
	Rs.0.600 Million	Rs.0.419 Million

STATEMENT OF ASSETS AND LIABILITIES

MRS. SAROJ BIPIN PARSANA

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in which investment is made	Amount Invested (Rs. In Millions)
Die – Cast Industries	0.355
Total	0.355

DEPOSIT HELD WITH BANKS

Name of the Bank	Nature of Deposit held	Amount of Deposit (Rs. In Millions)
Rajkot People’s Co-operative Bank Limited	Saving Bank a/c –1413	0.001
Corporation Bank	Saving Bank a/c – 2096	0.120
Corporation Bank	Fixed Deposit	0.015
Total		0.136

DEPOSIT HELD WITH COMPANIES/ OTHER

Name of the Companies/ Other	Nature of Deposit	Amount of Deposit (Rs. In Millions)
Share Deposit	Share Deposit	0.012
Total		0.012

LIFE INSURANCE POLICIES

Date of Policy	Policy No.	Whether Endowment policy or Whole Life policy	Annual Premium	Sum Assured (Rs. In Millions)	Surrender value as on 29/01/2011 (Rs. In Millions)
28.03.1994	811155344	Endowment policy	4,750	0.025	0.020
28.01.1997	811184065	Endowment policy	28,000	0.100	0.059
Total					0.079

IMMOVABLE PROPERTY

Name of the Owner	Description of Property	Location/Address of property	Extent of land	Type of property
Self	Residential Purpose Land	Mota Mova, R S No.171, Plot No.29	123.48 Sq. Mtrs.	Residential Purpose Land

Details of documents conferring right	Date of purchase of property	Original purchase cost (Rs. in Millions)	Present Market value as on 31.01.2011 (Rs. in Millions)
Sale deed No.5173	13.09.2004	0.034	0.300
		0.034	0.300

OTHERS ASSETS

INCLUDING MOVABLE ASSETS LIKE FURNITURE AND FIXTURE/ PLANT AND MACHINERY/ VEHICLES/ JEWELS, ETC.

Nature/ Details of assets	Market value of assets as on 31.01.2011 (Rs. In Millions)
Income Tax Refund (Receivable)	0.004
Machinery	0.006
Cash on Hand	0.055
Total	0.065

TOTAL ASSETS

RS.0.947 MILLION

NET WORTH

RS.0.947 MILLION

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MRS. PRAFULA ARVIND PARSANA

BIO-DATA FORM

Full Name	Mrs. Prafula Arvind Parsana
Capital/Loan contribution in the unit Capital	At the Beginning	At Present (31/01/2011)
	Rs.0.440 Million	Rs.0.666 Million

STATEMENT OF ASSETS AND LIABILITIES

MRS. PRAFULA ARVIND PARSANA

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in which investment is made	Amount Invested (Rs. In Millions)
Die – Cast Industries	0.666
Total	0.666

DEPOSIT HELD WITH BANKS

Name of the Bank	Nature of Deposit held	Amount of Deposit (Rs. In Millions)
Rajkot People’s Co-operative Bank Limited	Saving Bank a/c – 1412	0.004
Corporation Bank	Saving Bank a/c – 2095	0.110
Total		0.114

DEPOSIT HELD WITH COMPANIES/ OTHER

Name of the Companies/ Other	Nature of Deposit	Amount of Deposit (Rs. In Millions)
Arvindbhai J. Parsana	Deposit	0.280
Microcomp Systems (Receivable)	Deposit	0.022
Total		0.302

IMMOVABLE PROPERTY

Name of the Owner	Description of Property	Location/Address of property	Extent of land	Type of property
Self	NA Land	Mota Mova, RS No.171,l Plot No.30	123.48 Sq. Mtrs.	Residential Purpose Land

Details of documents conferring right	Date of purchase of property	Original purchase cost (Rs. in Millions)	Present Market value as on 31.01.2011 (Rs. in Millions)
Sale deed No.5174	13.09.2004	0.034	0.300
		0.034	0.300

OTHERS ASSETS

INCLUDING MOVABLE ASSETS LIKE FURNITURE AND FIXTURE/ PLANT AND MACHINERY/ VEHICLES/ JEWELS, ETC.

Nature/ Details of assets	Market value of assets as on 31.01.2011 (Rs. In Millions)
Income Tax refund (Receivable)	0.004
Machinery	0.006
Cash on Hand	0.070
Total	0.080

TOTAL ASSETS

RS.1.462 MILLIONS

LIABILITIES

BORROWINGS FROM OTHERS

Name of the lender	Amount Borrowed (Rs. In Millions)
Girdharbhai D. Suvagiya	0.040
Total	0.040

TOTAL LIABILITIES

RS.0.040 MILLION

NET WORTH

RS.1.422 MILLIONS

DETAILS OF EXISTING GUARANTEE OBLIGATIONS

Name of the Principal debtors on whose behalf guarantee is furnished	Extent to which guarantee is furnished		Name of the Creditors
	Sanction Limit	Outstanding as on 31.01.2011
Arvindbhai Jadavbhai Parsana (Housing Loan)	Rs.2.000 Millions	Rs.1.175 Millions	Corporation Bank PBB Branch

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MRS. PALLAVIBEN SANJAYBHAI PARSANA

BIO-DATA FORM

Full Name	Mrs. Pallaviben Sanjaybhai Parsana
Capital/Loan contribution in the unit Capital	At the Beginning	At Present (31/01/2011)
	Rs.0.050 Million	Rs.0.468 Million

STATEMENT OF ASSETS AND LIABILITIES

MRS. PALLAVIBEN SANJAYBHAI PARSANA

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in which investment is made	Amount Invested (Rs. In Millions)
Die – Cast Industries	0.468
Total	0.468

DEPOSIT HELD WITH BANKS

Name of the Bank	Nature of Deposit held	Amount of Deposit (Rs. In Millions)
Rajkot People’s Co-operative Bank Limited	Saving Bank a/c – 2102	0.004
Corporation Bank	Saving Bank a/c – 2098	0.077
Total		0.081

IMMOVABLE PROPERTY

Name of the Owner	Description of Property	Location/Address of property	Extent of land	Type of property
Self	Residential House – Land and Construction	R. S No.432, Plot No.10, Part – C. Chitrakutdham Society, Rajkot - 360001	118.02 Sq. Mtrs.	Residential House – Land and Construction

Details of documents conferring right	Date of purchase of property	Original purchase cost (Rs. in Millions)	Present Market value as on 31.01.2011 (Rs. in Millions)
Sale deed No.322	06.01.1997	0.016 0.362	1.500
		0.378	1.500

OTHERS ASSETS

INCLUDING MOVABLE ASSETS LIKE FURNITURE AND FIXTURE/ PLANT AND MACHINERY/ VEHICLES/ JEWELS, ETC.

Nature/ Details of assets	Market value of assets as on 31.01.2011 (Rs. In Millions)
Income Tax refund (Receivable)	0.003
Air Conditioner	0.024
Freeze	0.029
Cash on Hand	0.033
Total	0.089

TOTAL ASSETS

RS.2.138 MILLIONS

LIABILITIES

BORROWINGS FROM OTHERS

Name of the lender	Amount Borrowed (Rs. In Millions)
Karshanbhai R. Khun	0.049
Total	0.049

TOTAL LIABILITIES

RS.0.049 MILLION

NET WORTH

RS.2.089 MILLIONS

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MR. BIPINBHAI JADAVBHAI PARSANA

BIO-DATA FORM

Full Name	Mr. Bipinbhai Jadavbhai Parsana
Capital/Loan contribution in the unit Capital	At the Beginning	At Present (31/01/2011)
	Rs.0.040 Million	Rs.0.678 Million

STATEMENT OF ASSETS AND LIABILITIES

MR. BIPINBHAI JADAVBHAI PARSANA

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in which investment is made	Amount Invested (Rs. In Millions)
Die – Cast Industries	0.678
Total	0.678

DEPOSIT HELD WITH BANKS

Name of the Bank	Nature of Deposit held	Amount of Deposit (Rs. In Millions)
RNSB	Saving Bank a/c – 5760	0.032
Corporation Bank	Saving Bank a/c – 2094	0.004
Total		0.036

LIFE INSURANCE POLICIES

Date of Policy	Policy No.	Whether Endowment Policy or Whole Life Policy	Annual Premium	Sum Assured (Rs. In Millions)	Surrender Value as on 29.01.2011 (Rs. In Millions)
28.06.1999	812283420	Endowment	18,544	0.500	0.488
28.06.2008	814605518	Endowment	12,542	0.500	0.016
28.06.2008	814605519	Endowment	14,695	0.500	0.025
Total					0.529

IMMOVABLE PROPERTY

Name of the Owner	Description of Property	Location/Address of property	Extent of land	Type of property
Self	Residential House –Construction	“Vishwa”, 3 Chitrakutdham Society, Akshar Marg, Rajkot – 360001.	166.4 sq, Yard	Residential House –Construction
Self With 4 Others	Agricultural Land	Vil Dhandhaniya Pipaliya, Tal Kalawad, S. No.76	16 Acers	Agricultural Land
Self with 2 Others	Industrial Land	Atika, RS No.323/7/306, P. No.11	701.4 sq. Yard	Industrial Land
Self with Brother	Residential Purpose Land	Rajkot, RS No.431, Plot No.53	332.8 sq. Yard	Residential Purpose Land
Self with Brother	Agricultural Land	Motamova, RS No.104/P3, “Sagiyari”	2.19 Acers	Agricultural Land

Extent of Building Area Constructed	Details of documents conferring right	Date of purchase of property	Original purchase cost (Rs. in Millions)	Present Market value as on 31.01.2011 (Rs. in Millions)
1200 Sq. Fts.	NA	NA	0.506	0.400
NA	Sale deed No.608	02.07.2008	0.035 1/5^th Share	0.100
NA	Sale deed No.6281	08.05.1995	0.065 183^rd Share	0.500
NA	Sale deed No.5641	17.08.1987	0.008 ½ shares	2.400
NA	Sale deed No.4898	24.07.2009	1.072 ½ shares	1.500
				4.900

OTHERS ASSETS

INCLUDING MOVABLE ASSETS LIKE FURNITURE AND FIXTURE/ PLANT AND MACHINERY/ VEHICLES/ JEWELS, ETC.

Nature/ Details of assets	Market value of assets as on 31.01.2011 (Rs. In Millions)
Air Conditioner	0.020
Advance Tax	0.015
Cash on Hand	0.045
Total	0.080

TOTAL ASSETS

RS.6.223 MILLIONS

LIABILITIES

BORROWINGS FROM OTHERS

Name of the lender	Amount Borrowed (Rs. In Millions)
Bipinbhai J. Parsana – HUF	0.095
Total	0.095

TOTAL LIABILITIES

RS.0.095 MILLION

NET WORTH

RS.6.128 MILLIONS

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VALUATION REPORT

PART -1 (QUESTIONNAIRE)

GENERAL INFORMATION

Purpose for which the valuation is made	As requested by the Chief Manager Corporation Bank Rajkot branch, to ascertain the fair market price of the property, for purpose of loan mortgage.
Date as on which valuation is made	15-05-2011 A.D.
Name of the owner	M/s Die-Cast Industries Partners :- Mr. Jagdishbhai Jadavbhai Parsana Mr. Bipinbhai Jadavbhai Parsana Mr. Arvindbhai Jadavbhai Parsana Mr. Sanjaybhai Jadavbhai Parsana Mrs. Jagrutiben Jagdishbhai Parsana Mrs. Sarojben Bipinbhai Parsana Mrs. PrafuNaben Arvindbhai Parsana Mrs. Pallaviben Sanjaybhai Parsana Ownership as per the Transfer Letter of G.I.D.C. No. G.l.D.C./RM/RJT/TFR/ 1965, Dated 22-06-2010 A.D. Lease Deed with the G.I.D.C. - NO. 4051 Dated. 13-06-2011 A.D.
If the property is under Joint Ownership / Co-Ownership? Are the shares undivided?	Ownership of partnership Firm as per the documents. Submitted for evaluation. Shares as per the partnership Deed Dated 11th March 2010 A.D. Undivided as per the deeds. -
Brief description of the property.	The subjected property is a factory building on the plot for industrial purposes at Metoda industrial estate for the Production of all types of C.l. Casting and Auto Parts products. The unit is also to entertain activities like Induction casting and Machining of parts. The plot is located in a good location, approached from Almighty Gate. The plot is a large one and also a corner plot. The unit is under construction, the building component consists of the front G.F. and part F.F. - R.C.C. Framed workshop and the office area. The rear double heighted fabrication structured, Galvenium sheet roofing is the casting foundry shed. The supported structure is of R.C.C. Some of the nearby names can listed as, Kishan Forge, Rupkala, Swastik Industries, Kataria Foods, Angel Pumps, Ravi Steel industries, Radhika Forge, Madhav Weighbridge, and many more. The South - East facing Under construction industrial Unit is namely - “Die-Cast Industries“. On the whole A well planned unit in a good location, making it an expensive property.
Boundaries (Plot No. G-1306) Area is 7213.42 Sq. Mts. (8627.25 Sq. Yds.) as per the Documents submitted	East: Adjoining 20.00 Mts. wide road. Dim. Is 121.55 Mts. West: Adjoining Plot No. G-1307. Dim. Is 119.30 Mts. North: Adjoining Plot No. G-1305/2. Dim. Is 60.04 Mts. South: Adjoining 20.00 Mts. wide road. Dim. Is 60.00 Mts.
Location, street, ward no.	M/s Die-Cast Industries Lodhika Industrial Estate, Metoda Plot No. G-1306, Inside Almighty Gate”, On Road No. I Village Khirasara, Taluka Lodhika, District — Rajkot
Survey / Plot no. of Land.	Plot No. G-1306, Revenue Survey No. 176/2-Paiki On Road — I. Lodhika G.I.D.C.
Is the property situated in residential /Commercial /Mixed area /industrial area.	Well developed, Industrial Rural location. Industrial Purpose N.A. Sanctioned.
Classification of locality High class / Middle class / Poor class.	Upper Middle Class - Industrial
Proximity to civic amenities like Schools, Hospitals, Offices, Markets, Cinemas, etc.,	Rajkot City approximately 17.00 Kms from the site. All amenities available at Metoda Village, rest of the facilities like the markets etc. available within the area. it is about 2.00 Kms inside from Almighty Gate and the Rajkot - Kalavad Road.
Means and proximity to surface communication by Which the locality is served.	Surface transportation. As located on Rajkot Kalavad Highway but primarily by private vehicles, by road.
LAND
Area of land supported by documentary Proof dimensions and physical features.	The Valuation Report consists of land and building. Value of the land, located in the Metoda GI.D.C. Plot No. G-1306. Surrounded by many well established industrial units of various types. The Land area N.A. for the industrial purposes is appx. 7213.42 Sq. Mts. i.e. equals to 8627.25 Sq. Yds. as per transfer letter and the sanctioned building plans.
Roads, Streets or lanes on which the land is abutting	20.00 Mts. wide road to the East of the Unit 20.00 Mts. wide road to the South of the Unit
Is it free - hold or lease - hold land	Lease Hold, As per the Transfer Orders and Deed of Assignments. It is an industrial Estate’s Land - G.I.D.C. Plot transfer letter No. 1965 , Dated 22-06-2010 Deed No.4051, Dated 13-06-2011.
If lease-hold the name of the leasor/ leasee, commencement nature of the lease, dates of and termination of lease and terms of renewal of lease.	The premise is owners occupied. Leased by the G.I.D.C.
Is there any restrictive covenant in regard to the use of land?	Industrial use. Rules and regulations of the N.A. Order and the sale deed, and the conditions laid in sanctioned building plan by the Lodhika Industrial Estate.
Are there any agreements of easements?	As per the Transfer Orders and Deed of Assignments.
Does the land fall in an area included in any plan of the Government or any Statutory Body? So, give all The particulars.	Town Planning Scheme not applicable on G.I.D.C. allotted land.
IMPROVEMENTS
Plans and elevation of all structures standing on the land and lay-out plan	Sanctioned and dimensioned Plan attached by the owners. The factory Unit is sanctioned by the R.U.D.A. plot no. G-1306. Vide the sanction No. Ruda/ Tech/ Dev/ Lodhika/ G.l.D.C./ 1065/1 0/4990.Dated. 31-12-2010 A.D. Construction on site is underway. Sanctioned construction is 1516.24 Sq. Mts. The work can be adjudged as 40% completed, at this stage.
Furnish technical details of the building on a separate sheet (as per Annexure)	As described later in this report.
i) Is the building owner occupied/ tenanted/ both: ii) If partly owner occupied, specify portion and of the area under owner-occupation.	Wholly owned by the owners.
What is the Floor Space Index permissible and Percentage actually utilized?	As per the sanctioned plans submitted, here with the report. F.S.I. consumed is 0.21 < 1.20 Construction area sanctioned is 1516.24 Sq. Mts.
RENTS
Is separate amount being recovered from the use of fixtures, like fans, geysers, refrigerators, cooking ranges, built-In wardrobes, etc., or for service charges? If so give details.	G.I.D.C. service charges and N.A. assessment charges apply. Receipts attached by the owners. Receipt No. 681243, Dt. 29-03-2011
Give details of water and electricity charges, if any to be borne by the owner.	Electricity Charges of P.G.V.C.L apply. Connection of 3.00 LPT1. And for water supply, personal tube well is provided. Water Bore - 600’ Deep, U.G. Tank - 20,000 ltrs, and O.H. Water tank is not provided as under construction.
Has the tenant to bear the whole or part of the costs of the repairs and maintenance? Give particulars.	Owners have to bear.
What is the amount of property tax? Who is to bear it? Give details with documentary proof.	Service and other charges of G.I.D.C. apply Receipts to be submitted to the Bank. Also the N.A. assessment charges also apply. Details of each of charges as per the G.I.D.C. receipt No. 681243, Dtd. 29-03-2011 A.D.
Is the building insured? If so give the policy no., amount, for which it is insured and the annual premium.	Insurance Details with owners of the unit.
Is any dispute between landlord and tenant regarding rent pending in the court of law?	Details not relevant, as its owner occupied.
Has any standard rent been fixed for the premises under any law relating the control of rent?	Details not applicable, as informed during the site visit to the under construction unit. Site visit was conducted in the presence of One of partners – Mr. Arvindbhai Jadavbhai Parsana.
SALES
If there is any instances of sales of immovable property in the locality, in your knowledge, give details of price and of land sold	None comparable available. Plots of Land in G.I.D.C. are being traded for Rs.6,000=00 to 8,000=00 per Sq. Mts. Depending upon the roads it is abutting and the location.
Land rate adopted in this valuation.	Land rate adopted is Rs.7,000/- per Sq. Mts.
If the sale instances are not available or not relied upon. The basis of arriving at the land rate.	Prevailing market rates have been taken into account, considering the oral inquires to other land holders, and the people dealing in such matters their opinion also taken into account. There is a high demand in the locality, especially near the vicinity, at Lodhika GIDC, hosts many reputed units Like the Kishan Forge, Rupkala, Swasfik Industries, Kataria Foods, Angel Pumps, Ravi Steel industries, Radhika Forge, Madhav Weighbridge.
COST OF CONSTRUCTION
Year of commencement of construction and the year of completion.	2011-2012 A.D. Future life considered 60-Years. (future life estimates for valuation purpose only) The factory Unit is sanctioned by the R.U.D.A. On the Plot no. G-1306. Vide the Sanction No. Ruda/Tech/ Dev/Lodhika/G1D.C./ 1065/10/4990 Did. 31-12-2010 A.D. Building Occupancy Certificate is not yet availed as construction yet ongoing.
What was the method of construction, by contract? by employing labour directly or both? For items of work done on contract, Produce copies of agreements. For items of work done by engaging labour directly, give basic rates of materials and labour supported by documentary proof.	By Labour contract system, Details with partners of M/S Die-Cast Industries Labour contract on Sq.Fteet basis awarded for the general construction, and item rate basis For specific constructions. Contractor – Mr. Dhirubhai Hirabhai Kanani. Rate @ Rs.134/ Sq. Fts. for general construction.
APPROACH OF VALUATION Valuation is an art of judgment and forecast based on data obtained and organized. There are, however, certain well established principles and procedures on which the science of valuation of real estates rests, Valuation can be defined as a basic process by which the estimated price of a specific real property at a specified time and place and assuming a specific use or purpose can be worked out by considering the prevailing economic factors. There are various aspects like situation of the land/property, frontage and depreciation nature of soil, climatic conditions, communication means, fashion and local demands, availability of essential services, time element, holding of the property, tenure of the property encumbrances, topography of the area, legal factors etc. to be taken into account while working out any of the various types of valuations like present market value, capital gains tax, open lands, lands with buildings, life interests etc. Here the Registered Valuer should discuss in details his Approach to Valuation of the Property and Indicate how the Value has been arrived at, supported by necessary calculations. Valuation is derived on the Basis of Land and Building Method. Basis of Valuation The Market Value Definition, as per International Valuation Standards, which has been adopted in this valuation exercise, is as follows: “The Market Value is the estimated amount for which an Asset should exchange on the date of Valuation between a willing buyer and willing seller in an arms length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without convulsion.” Valuation of Land: The Methodology is Sales Comparison Method in which due weight age have been given to Factors such as 1) The Right to Sell / Transfer / Lease of the Land. 2) Demand and Prospective buyers for such type of Industrial blocks. 3) Shape, Size, prominence and Location of the Industrial Unit. 4) The Marketability, Utility, Demand and Supply of Similar Industrial land in the surroundings. 5) Market Inquiry, brokers and property dealers of that area. 6) Legal and Physical Encumbrance on Land. 7) Freehold and Leasehold Nature of Land etc. 8) Accessibility and proximity to various civic amenities and infrastructure. 9) Special Tax waivers or benefits of that particular zone. There are various aspects like situation of the land/property, frontage and depreciation nature of soil, climatic conditions, communication means, fashion and local demands, availability of essential services, time element, holding of the property, tenure of the property encumbrances, topography of the area, legal factors etc. to be taken into account while working out any of the various types of valuations like present market value, capital gains tax open lands, lands with building life interests demand and availability and payment terms and conditions etc. VALUATION OF BUILDINGS AND OTHER CIVIL WORKS The Methodology adopted is Depreciated Replacement Cost Method in which due weight age have been Given to factors like: 1) Utility and Design of Building Structures. 2) Actual Physical Conditions, State of Repairs and Maintenance. 3) Type of Construction: General and Specific Specifications. 4) Age, Remaining useful habitable/ utilizable life of the structures. 5) Limited marketability of such structures. 6) Latest Trend in Building construction Technology and it’s impact on cost of construction. 7) Cost of Building Materials and related construction supplies in surrounding area. 8) Present day replacement cost of equi-utility building structure. 9) Depreciation and physical wear and tear. 10) Obsolescence - Technological, Functional and economic etc. PART – I AREA = 7213.42 SQ. MTS. The property is located in Metoda- G.I.D.C., approximately 17.00 Kms. from Rajkot on Kalavad Road. Land Bearing Industrial unit of subject is Plot No. G-1306 on Road No. I, admeasuring 7213.42 Sq. Mts As per Transfer orders and the Deeds of assignments and the sanctioned building plans the unit at present is under construction condition. It belonged to Shri Raghvendra Foundry. It is now transferred to subject. Relevant construction plans are sanctioned and the production Unit for C.I. Casting and machining Auto parts is under construction. The plot of land is a corner one falling on East and South -20.00 Mts. wide roads. the unit is under construction, it can be approached from the “Almighty Gate”, from Kalavad Road. Some of the well known names in the vicinity can be listed as, Kishan Forge, Rupkala, Swastik Industries, Kataria Foods, Angel Pumps, Ravi Steel industries, Radhika Forge, Madhav Weighbridge, and many more. It is the industrial Unit namely -“Die Cast Industries”. The variation in market rates and value of the land is depending upon the demand and other local affairs Which vary from time to time. Market Value of Land = Area (Sq. Mt.) x Rate (Rs./Sq. Mt.) = 7213.42 sq. Mts. X Rs.7,000=00 = Rs.50.494 Millions Part – II This is a factory building situated in the Lodhika G.I.D.C. for manufacturing of C.I. Casting and auto parts the building consists of two building blocks, front one is the G.F. and part F.F. workshop and the office block the rear block is the foundry - casting shed the workshop block at the ground floor height is 16’0” and the F.F. Floor height is 100”. The workshop structure is a R.C.C. Framed structure with R.C.C. Slabs. The foundry shed is to have R.C.C. Frame structure with fabrication steel roof structure and A.C. sheet roofing, its lower height of 6.00 Mts. Rear (North) part of the plot is kept open. Work is under construction, hence the age of the structure is considered 0.00 years and so is the depreciation percentage. Hence the depreciation values worked out as per the straight line method, and also the future life and the repairs, replacement and maintenance carried out would be varying respectively. All different structures are having various and different specifications; hence criteria and replacement cost are as under.
BUILDING SPECIFICATIONS (A) WORKSHOP AND OFFICE BUILDING - (UNDER CONSTRUCTION) — 8,640=00 Sq. Fts.
No. of Stories	Ground and Part First Floor only
Type of Roofing	R.C.C. Slab roofing.
Type of Construction	R.C.C. Frame structure
Height of the slab	Approx. 16’0” for the G.F. Approx. 10’0” for the F.F.
Quality of Construction	Good - above average.
Super Structure of the Building	Brick / Bella masonry infill in R.C.C. frame
Finishing	Cement Plaster — inside and outside
Flooring at Ground Floor	Trimix concrete floor - industrial
Flooring at First Floor	Vitrified tiles
Type of electrification	Concealed and conduit Electrification
Door Frame	M.S. steel fabrication for the workshopWooden - Ply or section for the office
Doors	M.S. Rolling shutters for the workshop Flushed wooden shutters for the office.
Window Frame	Steel fabrication for the workshop Aluminum section for the office
Window	Steel Fabrication shutters for workshop Sliding aluminum shutters for Office.
(B) CASTING / FOUNDRY SHED — (UNDER CONSTRUCTION) — 7,680=00 Sq. Fts.
No. of Stories	Ground only — Double height.
Type of Roofing	A.C. Sheet on steel fabrication trusses
Type of Construction	R.C.C. Framed support structure
Height of the slab	Approx. 6.00 Mts. at springing point Approx. 7.50 Mts. at the crown.
Quality of Construction	Good - above average
Super Structure of the Building	Brick / Bella masonry infill in R.C.C. frame
Finishing	Cement Plaster - inside and outside
Flooring at Ground Floor	Trimix concrete floor - industrial
Type of electrification	Concealed / conduit Electrification
Door Frame	Steel fabrication frames
Doors	M.S. Rolling Shutters
Window frame	Steel fabrication frames
Window	Steel Fabrication, Steel Shutter.
(C) COMPOUND WALL — (UNDER CONSTRUCTION) - 360.00 Sg. Fts.
Structure Material Finishes Length Height	All along the plot boundary Approx. 10’0” in height R.C.C. frame structure Brick masonry infill. To be C.S. plastered inside and outside
Note: The construction work on site is ongoing; the structures are sanctioned by the R.U.D.A. here only. The sanctioned building components are considered for the valuation purposes. Here valuer is Not responsible for the timely completion of the ongoing construction, completion as per the Material specifications proposed initially. The valuer is also not responsible for obtaining the B.U. Certificate from the relevant authorities. Construction completed here is adjudged as 40% completed on the whole.

GRC COST CALCULATIONS:-

A] LAND VALUE:-

Land Area	Rate	Per/Units	Amount
7213.42 Sg.Mts	Rs.7,000/-	Sq. Mts.	Rs.50.494 Millions

B) CONSTRUCTION VALUE:-

Depreciation considered = at 0.00 % on the whole of the factory building. Percentage of work completed is judged at about 40 % complete.

Name of Building	Area	Rate	(Rs. In Millions)	Depreciated Value (Rs. In Millions)
Workshop & Office	8,640.00 Sq. Fts.	550	4.752	4.752
Casting shed – Foundry	7,680.00 Sq. Fts.	450	3.456	3.456
Compound wall	360.00 R. Mts.	2,100	0.756	0.756
Water Facilities	Lumpsum	--	0.200	0.200
PROPOSED C.R.C. CONSTRUCTION VALUE IS				9.164

SUMMARY (TOTAL VALUE)

Land Value	Rs.50.494 Millions
Construction Value	Rs.9.164 Millions Completion Value
Construction Value @ 40%	Rs.3.666 Millions Current Value
Current Total	Rs.54.160 Millions
Projected Total	Rs.59.658 Millions

Present Market Value	Rs.54.160 Millions
Realizable sale Value	Rs.49.000 Millions
Distressed Sale Value	Rs.39.000 Millions
Completion Value	Rs.59.658 Millions

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TRADE REFERENCE:

· Mira Casting

Gondal Road, Vavdi, Rajkot, India

Mr. Kishorbhai Sorathia

Mobile No.: 91-9227593451

· Sorathia Foundry

Mandi Bye Pass Road, Way to Village: Pal, Mavdi, India

Mr. Bakulbhai Sorathia

Mobile No.: 91-9825076844

· Somnath Casting

GIDC Metoda Kalawad Road, Rajkot, India

Mr. Govindbhai Mungra

Mobile No.: 91-281-2585501

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FIXED ASSETS

· Factory

· Building

· Plant and Machinery

· Electrification

· Vehicles

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.44.33
UK Pound	1	Rs.70.74
Euro	1	Rs.63.65

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.