MIRA INFORM REPORT

Report Date :

23.09.2011

IDENTIFICATION DETAILS

Name :	GOMA ENGINEERING PRIVATE LIMITED
Registered Office :	Majiwada, Behind Universal Petrol Pump, Thane-400602, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	23.06.1982
Com. Reg. No.:	11-27510
Capital Investment / Paid-up Capital :	Rs.3.500 Millions
CIN No.: [Company Identification No.]	U28920MH1982PTC027510
TAN No.: [Tax Deduction & Collection Account No.]	PNEG05217C
PAN No.: [Permanent Account No.]	AABCG1059K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of High Pressure Pump and Systems, Dairy and Food Process Systems.
No. of Employees :	More than 100 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 220000
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 for normal 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 – 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. Mayur Shah
Designation :	Finance Head
Contact No.:	91-9323392003
Date :	12.09.2011

LOCATIONS

Registered / Head Office :	Majiwada, Behind Universal Petrol Pump, Thane-400602, Maharashtra, India
Tel. No.:	91-22-41614161/41614162/25346436/25340875/2173800/41614152/21731801/02/21731800
Mobile No.:	91-9323392003 (Mr. Mayur Shah)
Fax No.:	91-22-41614162/21731803
E-Mail :	goma@vsnl.com info@gomaengg.com
Website:	http://www.gomaengg.com
Factory :	214/2, Khupari, Off. Bhiwandi Wada Road, Taluka Wada, District Thane – 421312, Maharashtra , India
Branches:	Located At: Kolkata Bangalore Koramangala Chennai New Delhi

DIRECTORS

As on 30.09.2010

Name :

Mr. Keshavji Meghji Gosrani

Designation :

Managing Director

Address :

11/12, Kashima Appartments, 4^th Floor, Mani Baug, L.B. Marg, Thane – 400602

Date of Birth/Age :

16.09.1940

Date of Appointment :

26.06.1982

Din No.:

00405003

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Managing director	26-06-82	26-06-82	Active	NO

Name :

Mr. Jayesh Keshavji Gosrani

Designation :

Director

Address :

601/602, Sita Vihar Co-operative Society, Near Damani Estate, LBS Marg, Thane – 400602

Date of Birth/Age :

28.11.1965

Date of Appointment :

01.04.1995

Din No.:

00405543

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Managing director	31-03-10	01-04-95	Active	NO

Name :

Mr. Chetan Keshavji Gosrani

Designation :

Director

Address :

11/12, Kashima Appartments, 4^th Floor, Mani Baug, L.B. Marg, Thane – 400602

Date of Birth/Age :

17.02.1972

Date of Appointment :

01.04.2000

Din No.:

00405765

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Managing director	31-03-10	01-04-00	Active	NO

Name :

Mr. Mohanlal Liladhar Gosrani

Designation :

Director

Address :

8/A, Vandan Cooperative Society Limited, L.B. Marg, Thane - 400602

Date of Birth/Age :

14.06.1947

Date of Appointment :

01.11.1983

Din No.:

00406906

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Director	01-11-83	01-11-83	Active	NO

Name :

Mr. Kantilal Veljibhai Maru

Designation :

Director

Address :

A2/601, Vikas Complex, LBS Marg, Thane – 400601

Date of Birth/Age :

15.12.1951

Date of Appointment :

01.11.1983

Din No.:

02487106

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	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Director	01-11-83	01-11-83	08-04-10	Active	NO

Name :

Mr. Bhavesh Maganlal Maru

Designation :

Director

Address :

7/1002, Wimbeldon Park, 1^st Pokhran Road, Opposite Raymond Company, Thane-400602, Maharashtra

Date of Birth/Age :

20.09.1969

Date of Appointment :

01.04.1995

Din No.:

00407497

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	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Director	01-04-95	01-04-95	08-04-10	Active	NO
2	U29100MH1983PTC031139	MARGO ENGINEERS PRIVATE LIMITED	Director	15-02-10	15-02-10	-	Active	NO
3	U27310GJ1980PTC003647	MULTI TECH ENGINEERING PRIVATE LIMITED	Director	04-03-10	04-03-10	-	Active	NO

Name :

Mr. Bijal Chetan Gosrani

Designation :

Director

Address :

901/902, Astoria Raheja Gardens, LBS Marg, Thane-400604, Maharashtra, India

Date of Birth/Age :

20.01.1977

Date of Appointment :

14.05.2010

Din No.:

02724106

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Director	14-05-10	14-05-10	Active	NO

Name :

Ms. Sema Jayesh Gosrani

Designation :

Director

Address :

801/802, Carlyle Raheja Gardens, LBS Marg, Thane-400604, Maharashtra, India

Date of Birth/Age :

17.04.1968

Date of Appointment :

14.05.2010

Din No.:

02731092

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29268MH2010PTC198805	AABA FOODTECH PRIVATE LIMITED	Director	12-01-10	12-01-10	Active	NO
2	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Director	14-05-10	14-05-10	Active	NO

KEY EXECUTIVES

Name :	Mr. Mayur Shah
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Keshavji Meghji Gosrani	2138
Manjulaben Keshavji Gosrani	1480
Jayesh Keshavji Gosrani	3920
Sema Jayesh Gosrani	1810
Chetan Keshavji Gosrani	3106
Bijal Chetan Gosrani	946
Deepen Keshavji Gosrani	540
Mohanlal Liladhar Gosrani	1333
Nirmalaben Mohanlal Gosrani	1328
Bhavesh Maganlal Maru	2950
Kanchanben M Maru	5286
Prashant M Maru	2673
Pravin V Maru	600
Shobhanaben P Maru	750
Saralaben M Shah	963
Kantilal Veljibhai Maru	3773
Premlataben K Maru	500

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	50.00
Other top fifty shareholders	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of High Pressure Pump and Systems, Dairy and Food Process Systems.
Terms :
Selling :	Cash and Credit (30 days)
Purchasing :	Cash and Credit (30 days)

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Actual Production
Pump Assly	Nos	138
Homogenizer	Nos	82
Dairy Equipment / Dairy Plant	Nos	--

GENERAL INFORMATION

Customers :

Others

No. of Employees :

More than 100 [Approximately]

Bankers :

• Small Industries Development Bank of India, 1 and 2 Dhanalaxmy Residency, Near Hotel Tip Top Plaza, LBS Marg, Thane-400602, Maharashtra, India

• Bank of Baroda

• ICICI Bank

Facilities :

Secured Loan	As on 31.03.2010 [Rs. in Millions]	As on 31.03.2009 [Rs. in Millions]
From SIDBI [Against mortgage of machinery]	10.835	8.751
From Banks [Against hypothecation of cars]	1.105	0.386
Bank Overdrafts [Against fixed deposits with banks]	1.835	2.160
Cash credit Andhra Bank CC A/C 267 [Against hypothecation of stock and debtors]	40.153	41.101
Total	53.928	52.398
Unsecured Loan
Sales Tax Loan PSI 1993 CST	6.474	6.647
Sales Tax Loan PSI 1993 MST	8.362	9.196
From Share Holders and Directors	28.820	17.614
Total	43.656	33.457

Banking Relations :	--
Auditors :
Name :	Ponkshe Kulkarni and Company Chartered Accountant
Address :	7 Chaudhary Building, Brahman Society, Naupada, Thane West, Thane-400602, Maharashtra, India

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
35000	Equity Shares	Rs.100/- each	Rs.3.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		3.500	3.500	3.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		52.544	41.586	31.503
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		56.044	45.086	35.003
LOAN FUNDS
1] Secured Loans		53.928	52.398	43.986
2] Unsecured Loans		43.656	33.457	30.497
TOTAL BORROWING		97.584	85.855	74.483
DEFERRED TAX LIABILITIES		2.053	2.018	1.792
TOTAL		155.681	132.959	111.278
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		50.943	54.115	49.203
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.651	4.278	4.068
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	52.643	45.936	44.833
	Sundry Debtors	48.831	63.120	31.382
	Cash & Bank Balances	48.009	18.016	17.972
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	39.829	32.838	33.505
Total Current Assets		189.312	159.910	127.692
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	39.934	48.074	45.551
	Other Current Liabilities	30.849	23.697	14.321
	Provisions	18.442	13.573	9.813
Total Current Liabilities		89.225	85.344	69.685
Net Current Assets		100.087	74.566	58.007
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		155.681	132.959	111.278

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
		Gross Sale	246.244	256.984	270.766
	PROFIT BEFORE TAX		15.894	17.108	18.963
Less	TAX		4.935	7.026	7.337
	PROFIT AFTER TAX		10.959	10.082	11.626
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		41.585	31.503	19.877
	BALANCE CARRIED TO THE B/S		52.544	41.585	31.503
	IMPORTS		4.981	4.787	NA
	Earnings Per Share (Rs.)		313	288	--

Particulars	31.03.2011
Sales Turnover [Approximately]	280.000

The above information has been parted by Mr. Mayur Shah.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	6.62	7.99	10.72
Return on Investment (ROI) (PBT/Networth)		0.28	0.38	0.21
Debt Equity Ratio (Total Liability/Networth)		3.33	3.80	4.12
Current Ratio (Current Asset/Current Liability)		2.12	1.87	1.83

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS:

The turnover of the company at Rs.246.244 millions has shown decrease of 4.18% as compared to Rs.256.984 millions for the previous year. The net profit Rs.10.959 millions has increased by 8.70% as compared to Rs.10.082 millions for the previous year. The main reason for increasing profitability as company has increase in house manufacturing activities.

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U28920MH1982PTC027510
Name of the company	GOMA ENGINEERING PVT LTD
Address of the registered office or of the principal place of business in India of the company	Majiwada, Behind Universal Petrol Pump, Thane-400602, Maharashtra, India
Type of charge	Immovable Property Movable Property (not being pledge)
Particular of charge holder	Small Industries Development Bank of India, 1 and 2 Dhanalaxmy Residency, Near Hotel Tip Top Plaza, LBS Marg, Thane-400602, Maharashtra, India
Email	anilk@sidbi.in
Nature of description of the instrument creating or modifying the charge	i) Agreement of Hypothecation ii) Equitable Mortgage (Entry No.80) (Both the documents securing same facility of Term Loan of Rs. 7.500 Millions thereby constituting single charge)
Date of instrument Creating the charge	01.03.2011
Amount secured by the charge	Rs.7.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 11.50% p.a. payable monthly Terms of Repayment Repayable in 54 monthly installments commencing after moratorium of 6 months from the date of first disbursement of the loan. Margin Not specified in the special terms and conditions of the sanction letter dated 31-1-2011 in respect of the Scheme for Privileged Customer Extent and Operation of the charge Harge of Hypothecation of movables to secure Term Loan of Rs. 7.500 Millions. An equitable charge also created on immovable property described in column no. 15 by constructive delivery of documents of title deeds pertaining thereto to secure the same Term Loan limit of Rs.7.500 millions plus interests, commission, charges, costs and expenses in relation to this limit as well as both the securities created therefore.
Short particulars of the property charged	I) (1) All the tangible Movable including plant and machinery, spares, tools & accessories, office equipment, furniture and fixtures both present and future, installed or not lying loose or in cases, II) Lying / stored / brought upon / in / about borrower's factory / premises / godowns at Survey No.135/A Pt. And 135/6pt. Admeasuring Approx 2346 Sq.Mtr. Or Thereabouts At Majiwada, Thane and 214/2, III) Khupri village, Tal: Wada, Dist: Thane - 421312 or wherever else same may be held to the order or disposition of borrower or in course of transit by order or delivery. The major items of equipment as IV) Follows 1. Cnc Vertical Machining Center of Haas, Usa. 2. Mazak Cnc Turning Centre of Yamazaki Mazak Singapore Pte Limited 3. CNC Horizontal machining of Haas USA. V) (2)Equitable interests in immovable property being Unit 16,1st floor, measuring around 3000 sq.ft on the building situate on land lying being and situate at village Majiwada, Registration Sub. Dist. VI) Thane, Tal and Dist. Thane bearing Survey No. 135/ A part and 135/6 Part ad measuring approximately 2346 sq. mtrs or thereabout and bounded as follows: Towards East: Survey No. 135/A part (The Property VII) belonging to paper products and private) Towards West: Survey No. 135/B The Property belonging to Shri Pannall Talwar, Towards North: Survey No. 135/A, 137/6 part, Towards South: Survey No. 137/6 VIII) Part and 135/ Part the property belonging to M/s kayteeco Industries.

Fixed Assets:

• Air Conditioner
• Building
• Computer
• Camera
• Electrical Fittings
• Furniture and Fixtures
• Generator
• Land
• Machinery
• Motor Car
• Refrigerator
• Tea Vending Machine
• Road Construction
• Water Cooler
• Water Filter
• Xerox Machine
• Water Softener

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.48.82
UK Pound	1	Rs.75.48
Euro	1	Rs.66.10

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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		46

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.