MIRA INFORM REPORT

Report Date :

18.04.2012

IDENTIFICATION DETAILS

Name :	GOOD LUCK CAPITAL PRIVATE LIMITED
Registered Office :	5/102, Sikka Complex, Community Center, Preet Vihar, Vikas Marg, New Delhi – 110092, India
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.04.1995
Com. Reg. No.:	55-067533
Capital Investment / Paid-up Capital :	Rs.2.400 Millions
CIN No.: [Company Identification No.]	U74899DL1995PTC067533
TIN No.:	09589103236
IEC No.:	0504012681
PAN No.: [Permanent Account No.]	AACCG0701F
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Tubes and Pipes, Hot Dip Galvanized Steel (HDGI), Cold Rolled Steel, Square and Rectangular Hollow Section and Related Products.
No. of Employees :	30 (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 90000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was established as a partnership concern in the name “Good Luck Traders” and later it got converted in to Private Limited in 1995 It 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. Pramod
Designation :	Accountant
Contact No.:	91-120-4196600
Date :	13.04.2012

LOCATIONS

Registered Office :	5/102, Sikka Complex, Community Center, Preet Vihar, Vikas Marg, New Delhi – 110092, India
Tel. No.:	91-11-22214254
Fax No.:	91-11-22214254
E-Mail :	goodluck@goodlucksteel.com cs@goodlucksteel.com anilvaishca@yahoo.co.in
Website :	http://www.goodlucksteel.com
Corporate Office :	2^nd 166/167, Nehru Nagar, Ambedkar Road, Ghaziabad – 201301, Uttar Pradesh, India
Tel. No.:	91-120-4196600
Fax No.:	91-120-4196666/ 4196777
Branch Office 1:	24, Additional Sihani Gate Scheme, Near Old Bus Stand Mandi, Ghaziabad – 201001, Uttar Pradesh, India
Branch Office 2:	Goodluck Traders, II F-166-167, Nehru Nagar, Ghaziabad – 201201, Uttar Pradesh, India

DIRECTORS

(AS ON 30.09.2011)

Name :	Mr. Sunil Kumar Garg
Designation :	Director
Address :	KF-7, Kavi Nagar, Ghaziabad – 201002, Uttar Pradesh, India
Date of Birth/Age :	52 years
Experience :	27 years
Date of Appointment :	20.12.2003
DIN No.:	01494994
Name :	Mr. Ashish Garg
Designation :	Director
Address :	IIF/164, Nehru Nagar, Sihani Gate, Ghaziabad - 201001, Uttar Pradesh, India
Date of Birth/Age :
Date of Appointment :	24.10.2002
DIN No.:	01495007
Name :	Mr. Shyam Aggarwal
Designation :	Director
Address :	R - 2/93, Raj Nagar, Ghaziabad – 201001, Uttar Pradesh, India
Date of Appointment :	20.12.2003
DIN No.:	01495025
Name :	Mr. Rajat Garg
Designation :	Director
Address :	KF-7, Kavi Nagar, Ghaziabad – 201002, Uttar Pradesh, India
Date of Appointment :	15.11.2011
DIN No.:	03104102
Name :	Mr. Pramod Kumar Singhal
Designation :	Additional Director
Address :	6, Navyug Market, Ghaziabad, Uttar Pradesh, India
Date of Appointment :	19.05.2007
DIN No.:	00059303

KEY EXECUTIVES

Name :	Mr. Pramod
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Pushpa Garg	10000
Ashish Garg	70000
Sunil Kumar Garg	70000
Shyam Aggarwal	70000
Pramod Kumar Singhal	20000
Total	240000

(AS ON 20.12.2011)

Names of Allottees	No. of Shares Allotted
Ashish Garg	120000
Rajat Garg	85000
Savitri Devi	135000
Shyam Aggarwal	85000
Sunil Kumar Garg	100000
Sudha Garg	100000
Shrijee Housing Private Limited, India	200000
Sapna Garg	200000
Reena Garg	150000
Nitin Garg	100000
Kanak Lata	125000
Hindon Carring Corporation Private Limited, India	200000
Tushar Garg	50000
Saras Garg	50000
Anil Kumar Garg	200000
Anju Garg	100000
Archana Agarwal	100000
Ankita Agarwal	100000
Rajeev Garg	80000
Total	2280000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Tubes and Pipes, Hot Dip Galvanized Steel (HDGI), Cold Rolled Steel, Square and Rectangular Hollow Section and Related Products.
Imports :
Products :	· Tubes and Pipes · Hot Dip Galvanized Steel (HDGI) · Cold Rolled Steel · Square and Rectangular Hollow Section
Countries :	All Over the Worlds
Terms :
Selling :	Cash and Credit (30 days)
Purchasing :	L/C, Cash and Credit (30 days)

GENERAL INFORMATION

Customers :

Retailers and End Users

No. of Employees :

30 (Approximately)

Bankers :

· ING Vysya Bank Limited

30 and 31, Navyug Market, P. B. No.75, Ghaziabad – 201001, Uttar Pradesh, India

· HDFC Bank, Ghaziabad

· HSBC Bank, Ghaziabad

· Laxmi Vilas Bank, Ghaziabad

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
ING Vysya Bank Limited, C/C A/c	137.197	58.968
ING Vysya Bank Limited, Buyers Credit	5.726	0.000
Total	142.923	58.968
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Directors and Relatives	64.500	65.905
From Body Corporate	6.050	6.200
Total	70.550	72.105

Banking Relations :	--
Auditors :
Name :	Anil Kumar Gupta Chartered Accountant
Address :	C-98, RDC, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India
PAN No.:	AARPG7133P
Associates/Subsidiaries :	· Goodluck Industries (Works) · Good Luck Steel Tubes Limited A-51, Industrial Area, Sikandrabad, District-Bulandshahr – 203205, Uttar Pradesh, India Tel No.: 91-5735-221017 · Goodluck Engineering (Works) Khasra No. 2839, Gram Dhoom Manikpur, G.T. Road , Gautam Budh Nagar, Dadri, (Uttar Pradesh, India Tel No.: 91-120-2666896

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Share	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2520000	Equity Share	Rs.10/- each	Rs.25.200 Millions

(AS ON 31.03.2011)

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
240000	Equity Share	Rs.10/- each	Rs.2.400 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.400	2.400
2] Share Application Money		0.300	0.300
3] Reserves & Surplus		19.701	16.562
4] (Accumulated Losses)		0.000	0.000
NETWORTH		22.401	19.262
LOAN FUNDS
1] Secured Loans		142.923	58.968
2] Unsecured Loans		70.550	72.105
TOTAL BORROWING		213.473	131.073
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		235.874	150.335
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.262	14.384
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.186	0.171
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.879	14.525
	Sundry Debtors	117.239	61.480
	Cash & Bank Balances	3.235	4.893
	Other Current Assets	5.500	0.000
	Loans & Advances	113.877	56.606
Total Current Assets		252.730	137.504
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	26.671	0.114
	Other Current Liabilities	1.208	1.051
	Provisions	1.425	0.575
Total Current Liabilities		29.304	1.740
Net Current Assets		223.426	135.764
MISCELLANEOUS EXPENSES		0.000	0.016
TOTAL		235.874	150.335

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Gross Turnover	612.456	300.446
		Other Income	1.693	0.145
		TOTAL (A)	614.149	300.591
Less	EXPENSES
		Office Expenses	581.895	277.655
		Labour Charges	0.227	0.399
		Office and Administrative Expenses	3.399	2.225
		Personnel Expenses	4.251	3.403
		Selling and Distribution Expenses	6.932	3.235
		Preliminary Expenses Written off	0.016	0.016
		TOTAL (B)	596.720	286.933
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		17.429	13.658
Less	FINANCIAL EXPENSES (D)		12.402	11.428
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.027	2.230
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.473	0.606
	PROFIT BEFORE TAX (E-F) (G)		4.554	1.624
Less	TAX (H)		1.415	0.544
	PROFIT AFTER TAX (G-H) (I)		3.139	1.080
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		7.261	6.181
	BALANCE CARRIED TO THE B/S		10.400	7.261
	Earnings Per Share (Rs.)		13.08	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.51	0.36
Net Profit Margin (PBT/Sales)	(%)	0.74	0.54
Return on Total Assets (PBT/Total Assets}	(%)	1.72	1.07
Return on Investment (ROI) (PBT/Networth)		0.20	0.08
Debt Equity Ratio (Total Liability/Networth)		2.27	6.90
Current Ratio (Current Asset/Current Liability)		8.62	79.03

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last two years	Yes
Profitability for last two years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

NOTE:

Started in 1991 as Good Luck Traders (Partnership) take over by Good Luck Capital Private Limited 20.04.1995.

TRADE REFERENCE:

· NTPC

· BHEL

· EIL

· Power Grid

FORM 8:

This form is for	Modification of charge
Charge identification number of the modified	10056307
Corporate identity number of the company	U74899DL1995PTC067533
Name of the company	Good Luck Capital Private Limited
Address of the registered office or of the principal place of business in India of the company	S/102, Sikka Complex, Community Centre, Vikas Marg, New Delhi, India cs@goodlucksteel.com
Type of charge	Book Debts Floating Charge Others: Hypothecation of Stocks
Particular of charge holder	ING Vysya Bank Limited 30 and 31, Navyug Market, P. B. No.75, Ghaziabad – 201001, Uttar Pradesh, India cms@companiesinn.com
Nature of description of the instrument creating or modifying the charge	Supplemental Deed of Hypothecation
Date of instrument Creating the charge	18.01.2012
Amount secured by the charge	Rs.400.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest ODSIT/BD: IVBR + 2.80% UBD under (Sub Limit to ODSIT/BD) At Prevailing rate FLC/ILC As per bank’s Circular instructions BC (sub limit to LC) as per bank norms LEF As per Treasury rates. Terms of Repayment ODSITIBD : On Demand UBD under LC(Sub limit to ODSITIBD) : On Demand FLCIILC : On Demand BC(Sub limit to LC) : On Demand LEF : On Demand Margin ODSITIBD: 25% on stocks and advances paid to suppliers/gods in transits for procurement of stocks of Iron and steel and 30% on receivables less than 90 days. UBD under LC(Sub limit to ODSITIBD) : Nil FLCIILC: 10% in form of FDR, with due lien of the bank. BC(Sub limit to LC) : Nil LEF : Nil Extent and Operation of the charge First charge on the stocks of sponge iron steel tubes/ pipes and all other types of iron and steel stocks stored and/ or to be stored from time to time. First charge on the entire book debts of the company from time to time.
Short particulars of the property charged	All the stocks of sponge iron, steel tubes/pipes and all other types of iron and steel stocks stored and/or to be stored from time to time. The entire book debts of the company from time to time.
Particulars of the present modification	The total limit has been enhanced from Rs.312.500 Millions to Rs.400.000 Millions as follows: ODSITIBD: Rs.300.000 Millions (Enhanced from Rs.150.000 Millions) UBD under LC(Sub limit to ODSITIBD) : Rs.(50.000) Millions (Earlier the limit was regular of Rs.50.000 Millions) FLCIILC : Rs.87.500 Millions (Reduced from Rs.100.000 Millions) BC(Sub limit to LC) : Rs.[87.500] Millions (Reduced from Rs.[100.000] Millions) LEF : Rs.12.500 Millions All other terms and conditions are remain same.

FIXED ASSETS:

· Plot

· Shop at Mumbai

· Machinery

· Car

· Scooter

· Cycle

· Fan

· Inverter

· Water Purifier

· Telephone Instrument

· Furniture and Fixture

· Motor Cycle

· Computers

· Testing Equipment

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.51.63
UK Pound	1	Rs.81.94
Euro	1	Rs.67.65

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	4
--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	YES
--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.