1. Summary Information

		Country	India
Company Name	Goodyear India Limited	Principal Name 1	Mr. Pierre E Cohade
Status	Good	Principal Name 2	Mr. Rajeev Anand
		Registration #	05-008578
Street Address	Mathura Road, Ballabgarh, Faridabad – 121004, Haryana, India
Established Date	28.03.1961	SIC Code	--
Telephone#	91-129-6611000 / 6611111	Business Style 1	Manufacturing
Fax #	91-129-2305309	Business Style 2	Selling
Homepage	http://www.goodyear.com http://www.goodyear.co.in	Product Name 1	Automotive Tyres
# of employees	976 (Approximately)	Product Name 2	Truck
Paid up capital	Rs.230,665,070/-	Product Name 3	LCV Tyres
Shareholders	Shareholding of Promoter and Promoter Group- 74.00%, Public Shareholding- 26.00%	Banking	Punjab National Bank
Public Limited Corp.	Yes	Business Period	52 years
IPO	Yes	International Ins.	--
Public Enterprise	Yes	Rating	A (63)
Related Company
Relation	Country	Company Name	CEO
Fellow Subsidiaries	--	Goodyear International Corporation	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.12.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	4,019,726,000	Current Liabilities	3,291,407,000
Inventories	855,011,000	Long-term Liabilities	0,000
Fixed Assets	1,898,100,000	Other Liabilities	525,064,000
Deferred Assets	0,000	Total Liabilities	3,816,471,000
Invest& other Assets	208,905,000	Retained Earnings	2,934,606,000
		Net Worth	3,165,271,000
Total Assets	6,981,742,000	Total Liab. & Equity	6,981,742,000
Total Assets (Previous Year)	5,930,850,000
P/L Statement as of	31.12.2011		(Unit: Indian Rs.)
Sales	15,134,315,000	Net Profit	645,970,000
Sales(Previous yr)	12,972,278,000	Net Profit(Prev.yr)	748,111,000

MIRA INFORM REPORT

Report Date :

29.01.2013

IDENTIFICATION DETAILS

Name :	GOODYEAR INDIA LIMITED
Formerly Known As :	GOODYEAR TIRE AND RUBBER COMPANY (INDIA) LIMITED
Registered Office :	Mathura Road, Ballabgarh, Faridabad – 121004, Haryana
Country :	India
Financials (as on) :	31.12.2011
Date of Incorporation :	28.03.1961
Com. Reg. No.:	05-008578
Capital Investment / Paid-up Capital :	Rs.230.665 Millions
CIN No.: [Company Identification No.]	L25111HR1961PLC008578
TAN No.: [Tax Deduction & Collection Account No.]	DELG00070A / RTKG03767B
PAN No.: [Permanent Account No.]	AAACG3511H
Legal Form :	A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange.
Line of Business :	Manufacturing and selling of Automotive Tyres, Truck, Bus, Car, Tractor, Jeep and LCV Tyres.
No. of Employees :	976 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (63)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 12000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having a good track record. Financial position of the company appears to be sound. Trade relations are reported as decent. Business is active. Payments are reported to be Regular and as per commitments. The company can be considered good 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office / Factory :	Mathura Road, Ballabgarh, Faridabad - 121 004, Haryana, India
Tel. No.:	91-129-6611000 / 6611111
Fax No.:	91-129-2305309
E-Mail :	info@goodyear.com pankaj_gupta@goodyear.com goodyearindia_investorcell@goodyear.com
Website :	http://www.goodyear.com http://www.goodyear.co.in
Head Office :	Godrej Bhavan, Mathura Road, New Delhi - 110 065, India
Tel. No.:	91-11-26836567 (8 Lines)
Fax No.:	91-11-26836170
Corporate Office :	1^st Floor, ABW Elegance Tower, Plot No.8, Commercial Centre, Jasola, New Delhi – 110025, India

DIRECTORS

As on 31.12.2011

Name :	Mr. Daniel Lawrence Smytka
Designation :	Chairman
Name :	Mr. Rajeev Anand
Designation :	Vice Chairman and Managing Director
Date of Birth/Age :	51 Years
Qualification :	Diploma Mech. Engg.
Experience :	30 Years
Date of Appointment :	01.01.1982
Name :	Mr. Yashwant Singh Yadav
Designation :	Director – Hr and Corporate Affairs
Date of Birth/Age :	53 Years
Qualification :	LL.B, MBA
Experience :	30 Years
Date of Appointment :	12.11.2009
Name :	Mr. R V Gupta
Designation :	Director
Name :	Mr. Rajiv Lochan Jain
Designation :	Director
Name :	Mr. C. Dasgupta
Designation :	Director

KEY EXECUTIVES

Name :	Mr. Pankaj Gupta
Designation :	Head – Legal and Company Secretary
Name :	Mr. Philippe Lecerf
Designation :	Chief Financial Officer
Date of Birth/Age :	45 Years
Qualification :	Business Degree (Institut Commercial Supérieur) / Diplôme d’Expertise-Comptable (CPA)
Experience :	24 Years
Date of Appointment :	01.07.2010
Name :	Mr. Dipinder Singh
Designation :	VP - Consumer Business
Name :	Sanjay Gupta
Designation :	Director – Procurement
Name :	P. K. Walia
Designation :	VP - Farm and Commercial PBU
Name :	Jatinder S. Gujral
Designation :	VP - Farm, Commercial
Name :	Tarun Kumar Lall
Designation :	Head – Pricing
Name :	Saroj Kumar Samant
Designation :	Manager - OTR (East)
Name :	Randeep Singh
Designation :	National Sales Manager -Replacement sales
Name :	Randeep Singh
Designation :	Head - Sales Consumer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2012

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
(2) Foreign
Bodies Corporate	17069215	74.00
Sub Total	17069215	74.00
Total shareholding of Promoter and Promoter Group (A)	17069215	74.00
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	1926341	8.35
Financial Institutions / Banks	9764	0.04
Insurance Companies	3956	0.02
Foreign Institutional Investors	322625	1.40
Sub Total	2262686	9.81
(2) Non-Institutions
Bodies Corporate	566793	2.46
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh	2642376	11.46
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	283219	1.23
Any Others (Specify)	242218	1.05
Trusts	5802	0.03
Non Resident Indians	136847	0.59
Clearing Members	31366	0.14
Hindu Undivided Families	68203	0.30
Sub Total	3734606	16.19
Total Public shareholding (B)	5997292	26.00
Total (A)+(B)	23066507	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	23066507	0.00

BUSINESS DETAILS

Line of Business :

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

Products :

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

PRODUCTION STATUS (As on 31.12.2011)

Particulars	Unit	Installed Capacity	Actual Production
Automotive Tyres	(Nos.)	1431	1264

NOTE:

1. The Installed capacity is as certified by the Management and relied upon by the Auditor’s being a technical matter.

2. Production does not include conversion by outside sources.

Tubes (Nos.)	1156	(1685)
Flaps (Nos.)	21	(77)

GENERAL INFORMATION

No. of Employees :	976 (Approximately)
Bankers :	· Citibank, Faridabad, Haryana, India · Bank of America, Faridabad, Haryana, India · Punjab National Bank, Faridabad, Haryana, India

Banking Relations :	--
Auditors :
Name :	Price Waterhouse Chartered Accountants
Address :	Gurgaon, Haryana, India
Cost Auditor :
Name :	Dr. Ashok K. Agarwal Cost Auditor
Ultimate holding company :	The Goodyear Tire and Rubber Company, Akron, Ohio, USA. (since November 29, 2011)
Holding company :	The Goodyear Orient Company (Private) Limited, Singapore (since November 29, 2011)
Fellow subsidiaries :	Goodyear International Corporation Goodyear Dunlop Tires Operations SA Goodyear Middle East, FZE Goodyear Earthmovers Pty Limited Goodyear Dalian Tire Company Limited Goodyear and Dunlop Tyres (NZ) Limited Goodyear Nippon Giant (Japan NGT) Goodyear (Thailand) Public Company Limited Goodyear Taiwan Limited Goodyear Do Brasil Produtos De Borracha Ltda Goodyear De Colombia S.A. Goodyear Great Britain Limited P T Goodyear Indonesia TBK Goodyear SA (Luxembourg) Compania Goodyear Del Peru SA Goodyear South Africa (Pty) Limited Goodyear Wingfoot KK Japan Goodyear Philippines Inc. Goodyear Lastikleri T.A.S. Goodyear Dunlop Tires France Goodyear Singapore Tyres Goodyear Marketing and Sales SDN Bhd. TC Debica SA. Goodyear and Dunlop Tyres (Australia) Pty Limited Goodyear South Asia Tyres Private Limited Goodyear Chile S.A.I.C

CAPITAL STRUCTURE

As on 31.12.2011

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

Notes :

1) 17,069,215 shares are held by Goodyear Orient Company (Private) Limited, Singapore {the Holding Company} since November 29, 2011. The Goodyear Tire and Rubber Company, Akron, USA {the ultimate Holding Company} held such shares until November 28, 2011.

2) During the year 2011, The Goodyear Tire and Rubber Company, USA (“GTRC”), has transferred its entire holding of 17,069,215 equity shares by way of contribution without any consideration to Goodyear Orient Company (Private) Limited, Singapore, in accordance with Regulation 10(1)(a)(iii) of the Takeover Regulations.

3) Out of the aforesaid 17,069,215 (17,069,215) shares 1,203,926 (1,203,926) shares were alloted to The Goodyear Tire and Rubber Company, Akron, Ohio, USA as fully paid up pursuant to a contract without payment being received in cash and 1,21,59,379 (1,21,59,379) shares were alloted as fully paid up by way of bonus shares by capitalisation of general reserve Rs.114.188 Millions (Rs.114.188 Millions) and share premium account Rs.7.406 Millions (Rs.7.406 Millions).

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2011	31.12.2010	31.12.2009
SHAREHOLDERS FUNDS
1] Share Capital		230.665	230.665	230.665
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2934.606	2476.884	1917.672
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3165.271	2707.549	2148.337
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		110.313	101.760	107.723
TOTAL		3275.584	2809.309	2256.060
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1898.100	1385.059	1203.241
Capital work-in-progress		208.905	594.744	363.173
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	855.011	612.988	516.629
	Sundry Debtors	1307.897	976.632	986.667
	Cash & Bank Balances	2490.996	2179.401	1587.722
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	220.833	182.026	163.831
Total Current Assets		4874.737	3951.047	3254.849
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	2748.005	1803.249	1569.690
	Other Current Liabilities	543.402	885.443	551.788
	Provisions	414.751	432.849	443.725
Total Current Liabilities		3706.158	3121.541	2565.203
Net Current Assets		1168.579	829.506	689.646
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3275.584	2809.309	2256.060

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2011	31.12.2010	31.12.2009
	SALES
		Income	15134.315	12972.278	10151.036
		Other Income	112.909	171.047	48.704
		TOTAL (A)	15247.224	13143.325	10199.740
Less	EXPENSES
		Raw material Consumed	8220.673	6528.379	4296.745
		Work in Process and finished Goods	3077.976	2888.364	2660.605
		Increase/ (Decrease) in Excise duty on finished Goods	11.323	4.924	(13.522)
		Other manufacturing expenses	2725.810	2423.452	1981.668
		TOTAL (B)	14035.782	11845.119	8925.496
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1211.442	1298.206	1274.244
Less	FINANCIAL EXPENSES (D)		52.118	35.569	34.034
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1159.324	1262.637	1240.210
Less/ Add	DEPRECIATION/ AMORTISATION (F)		196.893	153.386	126.089
	PROFIT BEFORE TAX (E-F) (G)		962.431	1109.251	1114.121
Less	TAX (H)		316.461	361.140	383.179
	PROFIT AFTER TAX (G-H) (I)		645.970	748.111	730.942
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1513.498	1033.047	571.012
Less	APPROPRIATIONS
		Transfer to General Reserve	80.000	80.000	80.000
		Proposed Dividend	161.466	161.466	161.466
		Tax on Dividend	25.570	26.194	27.441
	BALANCE CARRIED TO THE B/S		267.036	1513.498	1033.047
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	468.188	594.020	572.050
		Other Earnings	26.547	25.010	7.168
	TOTAL EARNINGS		494.735	619.030	579.218
	IMPORTS
		Raw Materials	1351.801	889.180	511.987
		Stores & Spares	2.109	5.120	16.605
		Capital Goods	78.447	100.580	182.652
		Others	0.000	885.590	0.000
	TOTAL IMPORTS		1432.357	1880.470	711.244
	Earnings Per Share (Rs.)		28.00	32.43	31.69

QUARTERLY RESULTS

PARTICULARS	31.03.2012	30.06.2012	30.09.2012
Type	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	3310.600	4011.100	3693.300
Total Expenditure	3112.300	3762.800	3454.200
PBIDT (Excl OI)	198.300	248.300	239.100
Other Income	29.300	31.400	64.400
Operating Profit	227.600	279.700	303.500
Interest	7.800	9.300	9.900
Exceptional Items	0.000	0.000	0.000
PBDT	219.800	270.400	293.600
Depreciation	57.700	58.900	60.700
Profit Before Tax	162.100	211.500	232.900
Tax	52.900	69.000	82.500
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	109.200	142.500	150.400
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	109.200	142.500	150.400

KEY RATIOS

PARTICULARS		31.12.2011	31.12.2010	31.12.2009
PAT / Total Income	(%)	4.24	5.69	7.17
Net Profit Margin (PBT/Sales)	(%)	6.36	8.55	10.98
Return on Total Assets (PBT/Total Assets}	(%)	14.21	20.79	24.99
Return on Investment (ROI) (PBT/Networth)		0.30	0.41	0.52
Debt Equity Ratio (Total Liability/Networth)		1.17	1.15	1.19
Current Ratio (Current Asset/Current Liability)		1.32	1.27	1.27

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FINANCIAL

During the year, the net sales and other income increased from Rs.13143.325 millions in the previous year to Rs. 15247.224 millions. The export sales stood at Rs 468.188 millions.

The depreciation for the year is inclusive of the accelerated depreciation amounting to Rs 3.200 Millions, in respect of a category of equipment due for replacement.

OPERATIONS

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

The Company feels proud to have been recognized as one of the best suppliers in the overall category by one of the leading tractor manufacturers in the world – John Deere. The Company has also won accolades from several other key tractor manufacturers including Mahindra and Mahindra Swaraj and International Tractors Limited in the past.

Last but not least, the Company has been awarded the prestigious “Superbrand” status for 2010 - 2011. This recognition speaks of the business excellence of Goodyear as a brand, and is a reward reflecting on the high quality of products and services delivered by the Company.

FINANCE AND ACCOUNTS

During the year, additions to fixed assets amounted to Rs.723.000 millions as against Rs.342.000 million in the previous year. The Capital expenditure incurred amounted to Rs.337.000 millions.

The interest cost during the year has increased from Rs. 35.569 Millions in the previous year to Rs. 52.118 Millions.

As of the end of December 2011, an amount of NIL matured deposits remained unclaimed.

The Company has not accepted any fixed deposits and, as such, no amount of principal or interest was outstanding as on the balance sheet date.

FUTURE OUTLOOK

As per the Central Bank’s (RBI) estimates, the growth in the Indian economy is expected to continue to moderate, with GDP growth forecasted at 7.3% for 2012-2013.

In this context, the Company will continue to focus on the review of activities in different areas of operations under the umbrella of the Continuous Improvement System (CIS). The CIS is an integral part of the Company’s philosophy to maximize gains and reduce costs in order to address market realities.

As far as the industry is concerned, moderation in growth rates is expected in the consumer tyre segment. The Company will continue to seek new OEM fitments and introduce award winning new products in its existing consumer tyre portfolio.

MANAGEMENT DISCUSSION AND ANALYSIS

INDUSTRY STRUCTURE AND DEVELOPMENTS

At macroeconomic level, the growth momentum of Indian economy has slowed with Central Bank (Reserve Bank of India) revising its GDP forecasts to 7.0% during its third quarter review of macroeconomic and monetary developments for 2011-2012. Inflationary pressures leading to high interest rates, global uncertainty and higher fuel prices, coupled with depreciating currency value have posed challenges in maintaining the growth rate momentum of the economy.

The tractor industry in India has witnessed a growth of 18.3% in 2011 (Source: Crisil research). This has resulted in an increased demand for tyres which the Company capitalized on, with strong sales growth of tractor tyres.

Passenger vehicles sales grew at 9% (Source: Society of Indian Automobile Manufacturers), which translated into slight moderation in consumer tyres demand from the Original Equipment Manufacturers’ (OEM) customers. The

Consumer Replacement Tyres also felt some softening of demand due to rising pressure on consumers wallets as a result of higher interest rates, fuel prices and food inflation.

OUTLOOK

As per the Central Bank’s (RBI) estimates, the growth in the Indian economy is expected to continue to moderate, with GDP growth forecasted at 7.3% for 2012-2013.

In this context, the Company will continue to focus on the review of activities in different areas of operations under the umbrella of the Continuous Improvement System (CIS). The CIS is an integral part of the Company’s philosophy to maximize gains and reduce costs in order to address market realities.

As far as the industry is concerned, moderation in growth rates is expected in the consumer tyre segment. The

Company will continue to seek new OEM fitments and introduce award winning new products in its existing consumer tyre portfolio.

CONTINGENT LIABILITIES*

Rs. In Millions

Particulars	31.12.2011	31.12.2010
1] Bills Discounted	--	14.957
2] Guarantee to Gurgaon Gramin Bank	11.500	11.765
3] Claims against the company not acknowledged as debts
Rent Cases **	--	43.875
Sales tax	45.166	30.176
Excise and services Tax matters	100.228	82.714
Income Tax Matters	107.328	48.447
Price Differential pending Settlement	47.392	47.392
Others	27.956	28.146

* (excluding interest and penalty, if any)

** During the year, in compliance of order passed by the Hon’ble Delhi High Court in August 2011 in respect of Delhi branch rent case, the Company deposited with the court a sum of Rs.16.200 Millions (including interest Rs.8.100 Millions) by way of demand drafts in the name of landlord(s), after deducting applicable TDS. However subsequent to such deposit, the Company received notice from Hon’ble Supreme Court of India revealing that the landlord(s) have preferred Special Leave Petition challenging the said order of High Court.

STATEMENT OF UNAUDITED FINANCIAL RESULT FOR THE QUARTER AND NINE MOUNTS ENDED SEPTEMBER 30, 2012

(Rs. In Millions)

Particulars	3 Months Ended 30.09.2012	Preceding Months Ended 30.06.2012	Year of date figures for current period year 30.09.2012
	(Unaudited)	(Unaudited)	(Unaudited)
1. (a) Net sales/ Income from Operations	3688.800	3998.900	10989.400
(b) Other operating income	4.500	12.200	30.900
Total Income [(a) + (b)]	3693.300	4011.100	11020.300
Expenditure
a) Cost of materials consumed	2127.200	2078.900	6271.500
b) Purchase of stock -in- trade	922.600	750.100	2299.100
c) Changes in Inventories of finished goods, work- in- progress and stock-in-trade	(302.700)	198.300	-357.000
d) Employee benefits expense	193.800	203.300	610.800
e) Depreciation and amortisation expense	60.700	58.900	177.300
f) Other expenditure	513.300	532.200	1499.700
g) Total	3514.900	3821.700	10501.400
3. Profit/ (Loss) from operations before other income, interest and Exceptional items (1-2)	178.400	189.400	518.900
4. Other income	64.400	31.400	114.400
5. Profit / (Loss) before interest and Exceptional items (3+4)	242.800	220.800	633.300
6. Interest/ Finance Charges	9.900	9.300	27.100
7. Profit / (Loss) after interest but before Exceptional items (5-6)	232.900	211.500	606.200
8. Exceptional items	--	--	--
9. Profit/ (Loss) from Ordinary Activities before tax (7+8)	232.900	211.500	606.200
10. Tax Expenses	82.500	69.000	204.400
11. Net Profit/ (Loss) from Ordinary Activities after tax (9-10)	150.400	142.500	401.800
12. Extraordinary Item (Net of Tax expense Rs. Nil)	--	--	--
13. Net profit/ (loss) for the period (11-12)	150.400	142.500	401.800
14. Paid up equity share capital (Face value of Rs.10 per share)	230.700	230.700	230.700
15. Reserves (excluding revaluation reserves as per Balance Sheet of previous accounting year)	--	--
16. Earning Per Share (Rs.) (EPS)
a) Basic and diluted EPS before Extraordinary Item for the year	6.52	6.18	17.42
b) Basic and diluted EPS after Extraordinary Item for the year	6.52	6.18	17.42
17. Public shareholding
- Number of shares	5,997,292	5,997,292	5,997,292
- Percentage of shareholding	26%	26%	26%
18. Promoter and Promoter Group Shareholding
a) Pledged / Encumbered
- Number of Shares	--	--	--
- Percentage of Shares (as a % of total shareholding of promoter & promoter group)	--	--	--
- Percentage of Shares (as a % of total share capital of the Company)	--	--	--
b) Non-Encumbered
- Number of Shares	17,069,215	17,069,215	17,069,215
- Percentage of Shares (as a % of total shareholding of promoter & promoter group)	100%	100%	100%
- Percentage of Shares (as a % of total share capital of the Company)	74%	74%	74%
Invest Complaints
Pending at the beginning of the quarter	Nil
Received during the quarter	2
Disposed of during the quarter	2
Remaning unresolved at the end of the quarter	Nil

Notes for the quarter ended on September 30, 2012

1. Tax Expense includes following:

Rs. In Millions

Particular	3 Months Ended 30.09.2012	Preceding Months Ended 30.06.2012	Year of date figures for current period year 30.09.2012
Current tax	94.400	74.500	210.100
Deferred tax	(1.900)	(5.500)	(5.700)

2. The Company's business activity falls within a single primary business segment viz. Automotive tyres, lubes, flaps and related rubber product.

3. Process for sale to piece of land was terminated purauant to a circular resolution passed by the Board of Directors on June 21. 2012. Thereafter, during October 2012 the Company has appropriately dealt with and replied to a notice received for full refund of the deposit along with interest and damages. .

4. The above unaudited results were approved at the meeting of the Board of Directors held on November 09, 2012.

5. The statutory auditors have carried out a Limited Review of the above results for the quarter ended 30.09.2012

6. Figures have been regrouped wherever necessary to confirm current quarter classification.

FIXED ASSETS

· Freehold Land

· Buildings

· Plant and Machinery

· Furniture and Fittings

· Vehicles

WEBSITE DETAILS

THE HISTORY OF THE BRAND

The Goodyear Tire and Rubber Company began in 1898, when founder Frank A. Seiberling purchased the company’s first production plant using money he borrowed from his brother-in-law. Naming the company after Charles Goodyear, the pioneer who discovered the process of vulcanisation, Seiberling also fashioned the distinctive winged-foot trademark based on a statue of Mercury he kept in his home. Though the symbol has since been altered over the years, it remains a recognisable signature for Goodyear till this very day.

MILESTONES

For over a hundred years, Goodyear has been at the forefront of tyre technology. Through advanced research and manufacturing practices, Goodyear continues to push the boundaries of innovation and remains One Revolution Ahead.

1898  Frank Seiberling starts the Goodyear Tire and Rubber Company. He chooses to name it in honour of the inventor

Charles Goodyear.

1908  Henry Ford's Model T, fitted with Goodyear tyres, is a sensation with middle class consumers. Car

registrations skyrocket.

1922  Goodyear enters India Market.

1961  Starts production in India at Ballabgarh Plant.

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

1969  Goodyear Aerospace helps send astronauts safely to the moon and back.

1971  Goodyear tyres are the first tyres to land on the Moon.

1984  India's largest tyre, over 8 feet tall, rolls out of the factory.

1998  Goodyear celebrates its 100th anniversary.

2002  Goodyear becomes first company to launch tubeless tyre in India.

2006 Launch of 'Shop-in-shop' Branded Retail Outlet .

2008  Launch of Goodyear Assurance - passenger tire made with Dupont KEVLAR.

2009  Launch of new farm tyre Vajra Super and commercial tyres Timber King and CTD 21.

2009  Launch of Goodyear DuraPlus and Duraco Hi-Miler - long milage passenger tyres made with TredLife Technology.

PRESS RELEASES

ADD SPARK TO YOUR JOURNEY THIS DIWALI WITH GOODYEAR

21 Dec 2012

Introduces festive offer this Diwali

While the country celebrates the festival of lights, Goodyear, one of the world's leading tyre companies, has introduced an extremely lucrative offer this Diwali in India. On a purchase of 4 or more select tyres, the buyer gets a Silver plated bowl set absolutely free! The tyre patterns included in this offer are all 14 inches and above sizes of Duraplus/ DP Series; Eagle F1 GSD3/D5/NCT5; Assurance ArmorGrip/ Fuel Max; Wrangler HP/AW; Excellence and the Efficient Grip range. The offer is available at all outlets selling Goodyear tyres across India.

This attractive promotional offer is valid from 10th November 2012 till 15th December 2012. After the promotion concludes, a lucky draw of registered consumers will determine 5 winners from the registered consumer base who will be awarded a 5gram Gold coin each. With this activity, Goodyear India aims at enhancing a consumer's tyre purchase experience.

This offer is valid across all cities as well as all branded and multi-branded stores so come to any Goodyear store and avail this wonderful offer!

About Goodyear India

Goodyear's presence in India is over 89 years old, with two plants, one each in Ballabgarh and Aurangabad. In the passenger car segment, Goodyear India supplies tyres to many of the leading Original Equipment Manufacturers. Goodyear India has been a pioneer in introducing tubeless radial tyres in this segment.

In the farm segment, in India, Goodyear tyres are supplied to all the major tractor companies.

In 2010/11, Goodyear India was awarded the Superbrand status.

GOODYEAR NAMED A THOMSON REUTERS TOP 100 GLOBAL INNOVATOR

Mumbai, December 6, 2012 - The Goodyear Tire and Rubber Company was named a Thomson Reuters 2012 Top 100 Global Innovator today, recognizing its achievements as one of the world's most innovative companies. This is the second year in a row that Goodyear has been recognized by Thomson Reuters, which honors organizations around the world based on a series of proprietary patent-related metrics.

"This recognition is further evidence that Goodyear is continuing its drive as the tire industry's innovation leader," stated Chief Technology Officer Joseph Zekoski. "Whether it's the innovative tread zones and evolving traction grooves in the Goodyear Assurance TripleTred All-Season tire or future breakthroughs such as Air Maintenance Technology, Goodyear is leading with innovative products that consumers need and want."

"Innovation is the foundation for economic prosperity and technological advancement," said David Brown, managing director, Thomson Reuters IP Solutions. "We congratulate the Thomson Reuters 2012 Top 100 Global Innovator companies and their leaders for recognizing the important role innovation plays in the successes of today and of tomorrow."

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

No 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.53.89
UK Pound	1	Rs.84.93
Euro	1	Rs.72.51

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		63

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.