MIRA INFORM REPORT

Report Date :

12.11.2011

IDENTIFICATION DETAILS

Name :	GOLDY PRECISION STAMPING PRIVATE LIMITED (w.e.f 10.08.2003)
Formerly Known As :	GOLDY PRESS TOOLS PRIVATE LIMITED
Registered Office :	Manish Bunglow, Savarkarnagar, Gangapur Road, Nashik, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	03.04.1991
Com. Reg. No.:	11-061022
Capital Investment/ Paid-up Capital:	Rs. 6.002 Millions
CIN No.: [Company Identification No.]	U34100MH1991PTC061022
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of Shock Absorber Damping Valves, Gaskets Etc.
No. of Employees:	190 (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

Maximum Credit Limit :	USD 160000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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. Sidhesh Raikar
Designation :	Director
Contact No.:	91-9370510585
Date :	03.11.2011

LOCATIONS

Registered Office :	Manish Bunglow, Savarkarnagar, Gangapur Road, Nashik, Maharashtra, India
Tel. No.:	91-253-6604785
Mobile No.:	91-9370510585 (Mr. Sidhesh Raikar)
Fax No.:	91-253-2351412
E-Mail :	sidhesh.raikar@goldy.in expertise_advice@yahoo.com
Location :	Owned
Factory :	F84/ 85, MIDC, Satpur Estate, Nashik – 422007, Maharashtra, India

DIRECTORS

As on 30.09.2011

Name :	Mr. Mohan Ramkrishna Raikar
Designation :	Director
Address :	Manisha, Savarkar Nagar, Gangapur Road, Nashik – 422012, Maharashtra, India
Date of Birth/Age :	10.07.1943
Date of Appointment :	03.04.1991
DIN NO:	00045601

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U28910GA1988PTC003046	Goldy Auto Stampings (India) Private Limited	Managing director	07-11-88	07-11-88	-	Active	NO
2	U34100MH1991PTC061022	Goldy Precision Stampings Private Limited	Managing director	03-04-91	03-04-91	-	Active	NO
3	U36900GA2011PTC006585	Goldy Finepacks Private Limited	Director	31-01-11	31-01-11	-	Active	NO

Name :	Manisha Mohan Raikar
Designation :	Director
Address :	Manisha, Savarkar Nagar, Gangapur Road, Nashik – 422012, Maharashtra, India
Date of Birth/Age :	02.10.1947
Date of Appointment :	03.04.1991
DIN NO:	01522565

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U28910GA1988PTC003046	Goldy Auto Stampings (India) Private Limited	Director	07-11-88	07-11-88	-	Active	NO
2	U34100MH1991PTC061022	Goldy Precision Stampings Private Limited	Director	03-04-91	03-04-91	-	Active	NO

Name :	Mr. Sidhesh Mohan Raikar
Designation :	Director
Address :	Manisha, Savarkar Nagar, Gangapur Road, Nashik – 422012, Maharashtra, India
Date of Birth/Age :	05.11.1976
Date of Appointment :	23.02.2000
DIN NO:	01681752

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U34100MH1991PTC061022	Goldy Precision Stampings Private Limited	Director	23-02-00	23-02-00	-	Active	NO
2	U36900GA2011PTC006585	Goldy Finepacks Private Limited	Director	31-01-11	31-01-11	-	Active	NO

Name :	Mr. Jayesh Mohan Raikar
Designation :	Director
Address :	Manisha, Savarkar Nagar, Gangapur Road, Nashik – 422012, Maharashtra, India
Date of Birth/Age :	01.08.1979
Date of Appointment :	23.02.2000
DIN NO:	01522528

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U34100MH1991PTC061022	Goldy Precision Stampings Private Limited	Director	23-02-00	23-02-00	-	Active	NO
2	U36900GA2011PTC006585	Goldy Finepacks Private Limited	Director	31-01-11	31-01-11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders (Equity Shares)	No. of Shares
Mohan Ramkrishna Raikar	20010
Manisha Mohan Raikar	1010
Sidhesh Mohan Raikar	4000
Jayesh Mohan Raikar	4000
Pooja Sidhesh Raikar	500
Priyanka Jayesh Raikar	500
Total	30020

As on 30.09.2011

Names of Shareholders (Preference Shares)	No. of Shares
Mohan Ramkrishna Raikar	30000
Total	30000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of Shock Absorber Damping Valves, Gaskets Etc.
Products :	Shock Absorber Damping Valves Transmission Components Spring Steel Components Gaskets Brake System Components Sheet Metal Components, Assembly and Deep Drawn Components

GENERAL INFORMATION

Suppliers :

Bhushan Steel

Customers:

Gabril India Limited

No. of Employees :

190 (Approximately)

Bankers :

• Small Industries Development Bank of India, Pingle Complex, 1^st Floor, Opposite Kulkarni Garden, Sharanpur Road, Nashik – 422002, Maharashtra, India
• City Bank, Nashik, Maharashtra, India

Facilities :

TL – Rs. 0.500 Million and Cash Credit – Rs. 25.000 Millions

Secured Loans	31.03.2011 Rs. in Millions	31.03.2010 Rs. in Millions
CITI Bank CC Account	9.272	2.666
Loan from CITI Bank (Short Term)	7.000	15.000
Loan from CITI Bank (Term Loan)	1.835	7.496
Loan from SIDBI (Term Loan)	8.925	2.679
Short Term Foreign Currency Credit	3.110	0.000
Kotak Mahindra Prime Limited (Laura)	0.000	0.312
Kotak Mahindra Prime Limited (Indica Xeta)	0.000	0.092
Total	30.142	28.245
Unsecured Loans	31.03.2011 Rs. in Millions	31.03.2010 Rs. in Millions
Unsecured Loans	15.112	16.274
Total	15.112	16.274

Banking Relations :	--
Auditors :
Name :	Rajendra P Shah and Company Chartered Accountants
Address :	Archis Villa, Near Collector Residence, Trimbak Raod, Nashik – 422005, Maharashtra, India
PAN NO.:	AMTPS4861N

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
35000	Equity Shares	Rs. 100/- each	Rs. 3.500 Millions
30000	Non cum Red Preference Shares	Rs. 100/- each	Rs. 3.000 Millions
	Total		Rs. 6.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30020	Equity Shares	Rs. 100/- each	Rs. 3.002 Millions
30000	Non cum Red Preference Shares	Rs. 100/- each	Rs. 3.000 Millions
	Total		Rs. 6.002 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		6.002	3.002	3.002
2] Share Application Money		0.000	0.000	0.000
3] General Reserve		7.000	5.000	4.500
4] Reserves & Surplus		26.557	14.822	11.082
5] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		39.559	22.824	18.584
LOAN FUNDS
1] Secured Loans		30.142	28.245	36.905
2] Unsecured Loans		15.112	16.274	14.483
TOTAL BORROWING		45.254	44.519	51.388
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
Others		0.000	21.394	13.506
TOTAL		84.813	88.737	83.478
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		41.048	36.923	39.369
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		2.167	2.189	2.474
DEFERREX TAX ASSETS		0.097	0.465	0.299
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	16.213	18.982
	Sundry Debtors	0.000	17.058	17.869
	Cash & Bank Balances	0.000	0.097	0.135
	Other Current Assets	0.000	31.394	15.700
	Loans & Advances	0.000	5.791	0.000
Total Current Assets		76.095	70.553	52.686
Less : CURRENT LIABILITIES & PROVISIONS
	Other Current Liabilities	34.594	15.966	11.350
	Provisions	0.000	5.427	0.000
Total Current Liabilities		34.594	21.393	11.350
Net Current Assets		41.501	49.160	41.336
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		84.813	88.737	83.478

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	206.541	112.686	NA
		Other Income	146.653	78.198	NA
		TOTAL	353.194	190.884	92.835
	PROFIT BEFORE TAX		NA	6.089	4.025
Less	TAX		NA	2.064	5.703
	PROFIT AFTER TAX		11.756	4.025	(1.678)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.32	2.10	1.80
Net Profit Margin (PBT/Sales)	(%)	NA	5.40	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	5.66	4.37
Return on Investment (ROI) (PBT/Networth)		NA	0.26	0.21
Debt Equity Ratio (Total Liability/Networth)		2.01	2.88	3.37
Current Ratio (Current Asset/Current Liability)		2.19	3.29	4.64

LOCAL AGENCY FURTHER INFORMATION

Check List:

Check List by info Agents	Available in Report (Yes/ No)
1) Year of Establishment	Yes
2)Locality of the Firm	Yes
3)Constitution of the Firm	Yes
4)Premises Details	Yes
5)Type of Business	Yes
6)Line of Business	Yes
7)Promoter’s Background	------------------
8)No. of Employees	Yes
9)Name of Person Contacted	Yes
10)Designation of Contact person	Yes
11)Turnover of Firm for last three years	No
12)Profitability for last three years	No
13)Reason for variation <> 20%	----------------
14)Estimated for coming financial year	No
15)Capital in the Business	No
16)Details of Sister Concern	No
17)Major Suppliers	Yes
18)Major Customer	Yes
19)Payment Terms	No
20)Export/ Import Details (if Applicable)	No
21)Market Information	------------------
22)Litigation that the Firm / Promoter	------------------
23)Banking Details	Yes
24)Banking facility details	Yes
25)Conduct of the Banking	-------------------
26)Buyer visit details	-------------------
27)Financials, if provided	Yes
28)Incorporation details, if applicable	-------------------
29)Last account filed at ROC	-------------------
30)Major Shareholders, if applicable	-------------------

Bankers Charges Report as per Registry

Corporate identity number of the company	U34100MH1991PTC061022
Name of the company	GOLDY PRECISION STAMPINGS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Manish Bunglow, Savarkarnagar, Gangapur Road, Nashik, Maharashtra, India Email: expertise_advice@yahoo.com
This form is for	Creation of Charge
Type of charge	Movable Property (not being pledge)
Particular of charge holder	Small Industries Development Bank of India, Pingle Complex, 1^st Floor, Opposite Kulkarni Garden, Sharanpur Road, Nashik – 422002, Maharashtra, India Email: ppraveen@sidbi.in
Nature of instrument creating charge	(1) Loan Agreement (2) Deed of Hypothecation (Both Documents Constitute a Single Charge)
Date of instrument Creating the charge	03.06.2011
Amount secured by the charge	Rs. 3.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Effective Rate of Interest @ 13.00% P. A. with monthly rests, i. e. over 0.50% over SIDBI'S PLR Terms of Repayment: The loan shall be repaid in 48 monthly installments comprising of Rs. 62,500/- each to commence after the initial moratorium of six months from the date of first disbursement. Margin: As per bank norms Extent and Operation of the charge: First charge to secure due repayment and discharge to SIDBI of its loan of Rs.30,00,000/- together with interest, further interest, penal interests, cost, charges, expenses and other money payables under the said agreement. the company undertakes to keep movables and immovables in marketable and good condition at its own costs and insure the same in joint name of SIDBI and company.
Short Particulars of the property or assets charged	Hypothecation of movables, plant, machinery, machinery spares, tools and accessories, office equipments, computers, furnitures, fixtures and other movables both present and future and CGTMSE.

TRADE REFERENCE:

• Gabril India Limited
• Bhushan Steel

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.50.27
UK Pound	1	Rs.80.07
Euro	1	Rs.68.44

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.