MIRA INFORM REPORT

Report No. :	324266
Report Date :	26.05.2015

IDENTIFICATION DETAILS

Name :	GOLDWYN LIMITED
Registered Office :	101 C, Shiv House, Hari Nagar Ashram, New Delhi – 110 014
Tel. No.:	91-120-4712400/ 4712430
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.02.1967
Com. Reg. No.:	55-021844
Capital Investment / Paid-up Capital :	Rs. 100.000 Million
CIN No.: [Company Identification No.]	L51909DL1967PLC021844
TAN No.: [Tax Deduction & Collection Account No.]	DELG00631B
PAN No.: [Permanent Account No.]	AAACG0979K
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. (Listed on Delhi Stock Exchange)
Line of Business :	Subject is engaged in the business of manufacturing, marketing and distribution of light emitting diode lights
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 180000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Subject deals in a wide range of modern, aesthetically designed and energy efficient LED lights for external and internal applications. The company has made profit of Rs. 10.073 Million in financial year 2013-14 as against losses of Rs. 14.317 Million in the previous year. However the company is using its some profit to improve its reserves level. Company has managed to reduce its accumulated losses of Rs. 45.155 million by Rs. 8.935 million during the financial year ended on 31^st March 2014. As per directors report, the company is expecting good growth in the financial year 2014-15 due to phenomenal growth of LED lighting market in domestic circuit. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual business 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Jagpal Sharma
Designation :	Chief Executive Officer
Contact No.:	91-120-4712400
Date :	23.05.2015

LOCATIONS

Registered Office :	101 C, Shiv House, Hari Nagar Ashram, Delhi – 110 014, India
Tel. No.:	Not Available
Mobile No.:	91-9810130627 [Mr. Keshav Thirani]
Fax No.:	Not Available
E-Mail :	jsharma@goldwynled.com sales@goldwynled.com
Website :	www.goldwynled.com
Head Office / Corporate Office / Factory:	15 and 16, Noida, Special Economic Zone, Noida – 201 305, Uttar Pradesh
Tel No.:	91-120-4712400/ 4712430
Fax No.:	91-120-4712424

DIRECTORS

As on: 31.03.2014

Name :

Mr. Keshav Kumar Thirani

Designation :

Chairman

Address :

B – 104/2, Western Avenue, Maharani Bagh, New Delhi – 110 065, India

Date of Birth/Age :

11.08.1947

Date of Appointment :

17.09.1984

Qualification:

Commerce Graduate

DIN No :

00280467

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L51909DL1967PLC021844	Goldwyn Limited	Director	17/09/1984	17/09/1984	-	Active	No
2	U65910DL1983PLC015274	Venture Capital Leasing Limited	Director	10/01/1986	10/01/1986	-	Active	No
3	U74899DL1993PTC054444	Woodward India Private Limited	Director	31/01/1994	31/01/1994	23/04/2010	Active	No
4	U74899DL1995PLC070835	Autometers Alliance Limited	Managing Director	01/04/2014	14/07/1995	-	Active	No
5	U25199DL1996PTC083786	Mouldcraft (India) Private Limited	Director	11/12/1996	11/12/1996	09/11/2009	Active	No
6	U70101WB1987PTC043420	Subhadra Estate Development Private Limited	Director	25/03/2004	25/03/2004	-	Active	No
7	U34300DL1959PLC003160	Autometers Limited	Director	14/12/2004	14/12/2004	-	Active	No
8	U00041DL2005PLC140838	Rmg Autometers Gas Technologies Limited	Director	16/09/2005	16/09/2005	-	Active	No
9	U70102DL2006PLC155255	Goldenera Infrastructure Limited	Director	07/11/2006	07/11/2006	10/06/2009	Active	No
10	U74140DL2007PTC166854	River Engineering Private Limited	Director	20/10/2007	20/10/2007	01/04/2008	Active	No
11	U40107DL2008PLC181794	Sperryn Gas Products Limited	Director	07/08/2008	07/08/2008	10/11/2009	Active	No
12	U22219DL2008PTC185016	Kalyani Navyug Media Private Limited	Director	19/11/2008	19/11/2008	-	Active	No
13	L28113DL2010PLC210819	Orient Refractories Limited	Director	11/11/2011	18/10/2011	30/07/2014	Active	No
14	U74120DL2013PTC257187	Sunnyvale Capital Private Limited	Director	04/09/2013	04/09/2013	-	Active	No
15	U74900DL2013PTC257427	Greenvale Capital Private Limited	Director	09/09/2013	09/09/2013	-	Active	No
16	U74900DL2013PTC257518	Rivervale Capital Private Limited	Director	10/09/2013	10/09/2013	-	Active	No

Name :

Ms. Jayshree Thirani

Designation :

Managing Director

Address :

B – 104/2, Western Avenue, Maharani Bagh, New Delhi – 110 065, India

Date of Birth/Age :

27.07.1949

Date of Appointment :

01.10.2014

Qualification:

B.A. Honours

DIN No :

0091432

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L51909DL1967PLC021844	Goldwyn Limited	Whole-Time Director	01/10/2014	14/08/2000	-	Active	No
2	U34300DL1959PLC003160	Autometers Limited	Director	08/04/2006	08/04/2006	-	Active	No
3	U65910DL1983PLC015274	Venture Capital Leasing Limited	Director	26/05/2006	26/05/2006	-	Active	No
4	U70102DL2006PLC155255	Goldenera Infrastructure Limited	Director	07/11/2006	07/11/2006	10/06/2009	Active	No
5	U22219DL2008PTC185016	Kalyani Navyug Media Private Limited	Director	19/11/2008	19/11/2008	-	Active	No
6	U74120DL2013PTC257187	Sunnyvale Capital Private Limited	Director	04/09/2013	04/09/2013	-	Active	No
7	U74900DL2013PTC257427	Greenvale Capital Private Limited	Director	09/09/2013	09/09/2013	-	Active	No
8	U74900DL2013PTC257518	Rivervale Capital Private Limited	Director	10/09/2013	10/09/2013	-	Active	No
9	U36999DL2013PTC259677	Aal Mobility Private Limited	Director	28/10/2013	28/10/2013	-	Active	No

Name :

Mr. Anurag Agarwal

Designation :

Director

Address :

J-5A, Green Park Extension, New Delhi, 110016, Delhi, India

Date of Birth/Age :

24.08.1959

Date of Appointment :

29.09.2012

Qualification:

MS degree in Medical Engineering

DIN No :

01251964

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1989PTC037805	Dhruva Technologies Private Limited	Director	25/09/1989	25/09/1989	13/11/2013	Active	No
2	U74210DL1997PTC088170	Virtual Engineering Services Private Limited	Director	25/06/1997	25/06/1997	-	Active	No
3	U72900DL2000PTC105909	Virtual Software Private Limited	Director	26/05/2000	26/05/2000	-	Active	No
4	U72900DL2009PTC192351	Karigar Services Software Private Limited	Director	30/09/2010	26/05/2010	-	Active	No
5	L51909DL1967PLC021844	Goldwyn Limited	Director	29/09/2012	19/11/2011	-	Active	No
6	U29253DL2012PTC245830	New Leaf Dynamic Technologies Private Limited	Director	07/12/2012	07/12/2012	-	Active	No

Name :

Mr. Ajit Kumar Verma

Designation :

Director

Address :

Flat No. 601, Bhavya Palace, Road No 14A, Ahimsa Marg, Khar West, Mumbai, 400052, Maharashtra, India

Date of Birth/Age :

28.09.1962

Date of Appointment :

29.09.2012

Qualification:

MSC and Master Degree in Business Administrative

DIN No :

03634499

KEY EXECUTIVES

Name :	Mr. Ajay Goel
Designation :	Chief Executive Offcier
Address :	B-222, Ec-26, Gautam Budh Nagar, Noida, 201301, Uttar Pradesh, India
Date of Appointment :	01.04.2014
PAN No.:	ABZPG2194H
Name :	Mr. Jagpal Sharma
Designation :	Chief Executive Offcier
Address :	291, Sec-2b, Vasundhara, Ghaziabad, 201012, Uttar Pradesh, India
Date of Appointment :	01.04.2014
PAN No.:	ARRPS9378M
Name :	Mrs. Divya Goel
Designation :	Secretary
Address :	11-B, II RM Colony, GDA Flats, Sector 2, Rajander Nagar Sahibabad, Ghaziabad - 201005, Uttar Pradesh, India
Date of Appointment :	01.08.2014
PAN No.:	AXOPG9091Q
Name :	K.S. and Associates
Designation :	Company Secretary
Address :	2^nd Floor, 18/1018, Bansal building, Main Arya Samaj Road, Karol Bagh, New Delhi – 110005, India

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 31.03.2014

EQUITY SHARE CAPITAL:

Name of Shareholders	No. of shares
Keshav Thirani	2202970
Autometers Limited	800000
Jayshree Thirani	310200
Keshav Thirani and Jayshree Thirani	200000

PREFERENCE SHARE:

5% Cumulative Redeemable preference share capital	No. of shares
Keshav Thirani	6000000

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of manufacturing, marketing and distribution of light emitting Diode lights
Products :	Light emitting Diode lights
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	LED Light
Countries :	Malaysia UK Europe Egypt Iraq USA South Africa Israel UAE
Imports :
Products :	Raw Material
Countries :	Taiwan Singapore China
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Empire Industries Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

End Users

Reference :	Arrow Electrics Asia (S) Private Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

150 (Approximately)

Bankers :

Bank Name	IDBI Bank Limited
Branch	Jhandewalan Extension, New Delhi, India
Person Name (With Designation)	Mr. Bharat Bhushan Premi (Assistant General Manager)
Contact Number	91-11-66083008
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Vehicles Loan	1.875	0.000
Short-term borrowings
Cash credit facilities	14.150	14.753
Buyers credit facilities	13.570	10.248
Packing credit facilities	53.779	40.191
Total	83.374	65.192
Long-term Borrowings Vehicle loans are secured by way of hypothecation of assets purchased Vehicle loans are repayable in 60 equal monthly installments over the Lenore of the Lenore of the loans as specified in the respective contracts. The last installment of these loans would become due for repayment in December 2018. The rate on these loans ranges from 10.25 percent to 10.90 percent. Short-term borrowings: Loans are secured by primary charge on entire present and future current assets of the company. Further collaterally secured by charge on entire fixed assets of the company, present and future, including mortgage on the plot 15and 16, Noida special Economic Zone Noida.

Financial Institution:	Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India
Auditors :
Name :	Walkar Chandiok and Company Chartered Accountants
Address :	New Delhi – 110001, India
Memberships :	Not Available
Collaborators :	Not Available
Entities over which key management personal are able to excise significant influence:	Autometers Alliance Limited Autometers Limited Venture Capital Leasing Limited RMG Autometers Gas Technologies Limited Kalyani Navyug Media Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs. 10/- each	Rs. 50.000 Million
6000000	Preference share	Rs. 10/- each	Rs. 60.000 Million
	Total		Rs. 110.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs. 10/- each	Rs. 40.000 Million
6000000	Preference share	Rs. 10/- each	Rs. 60.000 Million
	Total		Rs. 100.000 Million

b) Reconciliation of the number of shares outstanding at the beginning and the end of the reporting period:

	31.03.2014
	No. of Shares held	Rs. in Million
Equity Shares of Rs. 10
Shares Outstanding	4000000	Rs. 40.000 Million

5% cumulative redeemable preference shares

	31.03.2014
	No. of Shares held	Rs. in Million
Equity Shares of Rs. 10 At the beginning of the period	4000000	Rs. 40.000 Million
Add: Issued during the period	2000000	Rs. 40.000 Million
Outstanding at the end of the period	6000000	Rs. 60.000 Million

Term and rights attached to share capital:

Equity shares:

The company has one class of equity shares having per value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share. The company declare and pays dividend upon recommendation of board of director and approval in the annual general meeting of the company.

In the event of liquidation of the company the holder of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amount. The distribution will be proportion to the number of equity shares held by the shareholders.

Preference shares:

During the year, the company has issued 2000000 5% cumulative redeemable preference shares of Rs. 10 Each fully paid up at par, redeemable after 5 years on 11 October 2018. During the year ended 31 March 2013, the company has issued 4000000 5% cumulative redeemable preference shares of Rs. 10 Each fully paid up at par which will be redeemable on 4 February 2018. The holders of preference shares have no rights to receive notices of, attend or vote at general meetings except in certain limited circumvents.

On a distribution pf assets of the company, on a winding up or other return of capital

c) Shares in the company held by each shareholder holding more than 5 percent shares specifying the number of shares held:

Name of Shareholders	31.03.2014
	No. of Shares held	% of Holding
Keshav Thirani	2202970	55.07
Autometers Limited	800000	20.00
Jayshree Thirani	310200	7.76
Keshav Thirani and Jayshree Thirani	200000	5.00
5% Cumulative Redemable preference share capital
Keshav Thirani	6000000	100.00

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	100.000	80.000
(b) Reserves & Surplus	(36.220)	(45.155)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	63.780	34.845
(3) Non-Current Liabilities
(a) long-term borrowings	21.653	21.419
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.081	0.000
(d) long-term provisions	5.313	2.298
Total Non-current Liabilities (3)	27.047	23.717
(4) Current Liabilities
(a) Short term borrowings	91.498	65.191
(b) Trade payables	40.450	27.945
(c) Other current liabilities	12.573	9.380
(d) Short-term provisions	0.297	0.331
Total Current Liabilities (4)	144.818	103.701
TOTAL	235.645	162.263
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	52.144	50.470
(ii) Intangible Assets	7.701	5.974
(iii) Capital work-in-progress	0.710	0.957
(iv) Intangible assets under development	7.104	5.103
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	2.780	1.138
(e) Other Non-current assets	0.184	2.381
Total Non-Current Assets	70.623	66.023
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	55.204	52.729
(c) Trade receivables	99.860	38.050
(d) Cash and cash equivalents	4.186	2.578
(e) Short-term loans and advances	5.730	2.809
(f) Other current assets	0.042	0.074
Total Current Assets	165.022	96.240
TOTAL	235.645	162.263

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	281.686	205.429
	Other Income	0.882	0.847
	TOTAL	282.568	206.276
Less	EXPENSES
	Cost of Materials Consumed	166.574	131.468
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.193)	9.949
	Employees benefits expense	41.544	33.178
	Other expenses	48.913	30.204
	TOTAL	256.838	204.799
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	25.730	1.477
Less	FINANCIAL EXPENSES	4.442	7.505
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	21.288	(6.028)
Less/ Add	DEPRECIATION/ AMORTISATION	11.215	8.289
	PROFIT/ (LOSS) BEFORE TAX	10.073	(14.317)
Less	TAX	1.138	(0.386)
	PROFIT/ (LOSS) AFTER TAX	8.935	(13.931)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(53.701)	(39.770)
	Balance Carried to the B/S (J+K+L-M)	(44.766)	(53.701)
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	215.473	134.425
	TOTAL EARNINGS	215.473	134.425
	IMPORTS
	Raw Materials	85.118	44.709
	Capital Goods	1.606	2.374
	TOTAL IMPORTS	86.724	47.083
	Earnings / (Loss) Per Share (Rs.)	1.62	(3.56)

Particulars	31.03.2015
Sales Turnover (Approximately)	290.000

The above information has been parted by Mr. Jagpal Sharma (Chief Executive Officer)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA
Cash generated from operations	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	3.17	(6.78)
Operating Profit Margin (PBIDT/Sales)	(%)	9.13	0.72
Return on Total Assets (PBT/Total Assets}	(%)	4.42	(9.17)
Return on Investment (ROI) (PBT/Networth)		0.16	(0.41)
Debt Equity Ratio (Total Debt /Networth)		1.77	2.49
Current Ratio (Current Asset/Current Liability)		1.14	0.93

STOCK PRICES

Face Value	NA
Market Value	NA

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	80.000	100.000
Reserves & Surplus	(45.155)	(36.220)
Net worth	34.845	63.780
long-term borrowings	21.419	21.653
Short term borrowings	65.191	91.498
Total borrowings	86.610	113.151
Debt/Equity ratio	2.486	1.774

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	205.429	281.686
		37.121

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	205.429	281.686
Profit/Loss	(13.931)	8.935
	(6.78%)	3.17%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	No
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	No
28	Estimation for coming financial year	No
29	Profitability for last two years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	No
33	Market information	No
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

COMPANY OVERVIEW:

The company a public limited company was incorporated in the year 1967. The company is engaged in the business of manufacturing, marketing and distribution of light emitting Diode lights with its manufacturing facilities located as special Economic Zone, Noida.

PERFORMANCE AND OUTLOOK:

The net sale during the year was Rs. 281.686 Million as against Rs. 205.429 Million in the previous year. The company also made profit before tax of Rs. 10.073 Million in financial year 2013-14 as against losses of Rs. 14.317 Million in the previous year. The company is expecting good growth in the financial year 2014-15 due to phenomenal growth of LED lighting market in domestic circuit. The company also introduced new varieties of LED lights to entering retails market. The company has won a prestigious tender of Madhya Pradesh government in current year which will lead to enter the company into a large market of government sector. The company also has taken steps to material and interest cast.

MANAGEMENT DISCUSSION AND ANALYSIS REORT:

The company had made its brand name in the energy efficient lighting. The company is exporting such lights to Europe, USA, South Africa, East and Middle East Asia. The company is selling the LED lights to domestic market as well. The LED lights save up to 80% energy compared with conventional lights, have a maintained free life up to 10 years, and are recognized as “green” lighting which reduce carbon emissions and are entitled to carbon credits. Goldwyn is the first company in India to offer such LED lights for high intensity applications like street lighting office indoor lighting industrial lighting etc.

UNSECURED LOAN

Particular	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
From director	19.778	21.420
Short-term borrowings
Inter-corporate Loan	10.000	0.000
Total	29.778	21.42

INDEX OF CAHREGS:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10560181	29/01/2015	3,406,717.00	RELIANCE CAPITAL LIMITED	"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI - 400710, MAHARASHTRA, INDIA	C49241938
2	10329495	13/10/2014 *	105,000,000.00	IDBI BANK LIMITED	VIDEOCON TOWER FIRST FLOOR, E-1, JHANDEWALAN EXTENSION, NEW DELHI- 110055, INDIA	C27478890
3	10240165	23/08/2010	99,071,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA	A94764388
4	10063837	31/03/2009 *	97,629,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA	A68815091

* Date of charge modification

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014
Claim against the company not acknowledged as debt on account of pending legal case in respect of income tax for assessment year 2006-07	0.602
Dividend on 5% cumulative redeemable preference shares.	2.764
Total	34.5974

Fixed Assets:-

· Land and Building      

· Plant and Machinery

· Leasehold Improvement

· Electric Installation

· Furniture and Fixtures

· Office Equipments

· Vehicle

· Computer and Software

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.63.67
UK Pound	1	Rs.99.67
Euro	1	Rs.70.93

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SAN
Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	4
--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	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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.