Prominent Notes: - Securities and Exchange Board of India

Minimum return on total Net worth after Issue needed to maintain pre-issue EPS at `3.58 is
39.32%.
6. Return on Net Worth (RoNW) - Consolidated
Year RoNW (%) Weights
March 31, 2010 20.95 3
March 31, 2009 25.87 2
March 31, 2008 37.88 1
Weighted Average 25.41
December 31, 2010 17.30
Minimum return on total Net worth after Issue needed to maintain pre-issue EPS at ` 3.42 is
36.05%.
7. Net Asset Value (NAV) per share - Standalone
Particulars NAV (`)
As at March 31 st , 2010 16.61
After Issue at issue price (floor Price) 9.28
After Issue at issue price (Cap Price) 9.48
Issue Price per Equity Share 85
8. Net Asset Value (NAV) per share - Consolidated
Particulars NAV (`)
As at March 31 st , 2010 16.33
After Issue at issue price (floor Price) 9.12
After Issue at issue price (Cap Price) 9.32
Issue Price per Equity Share 85
Comparison of accounting ratios with peer group
Our Company is primarily engaged in the business of non-automotive forging. There is no strictly
comparable listed company having a similar business model. However, we have chosen the companies
which we believe are our peers in the segment in which we operate:
Name of the Company Diluted P/E Ratio RoNW % # NAV per
EPS (`)
share (`) #
Sanghvi Forging and Engineering Ltd.* 3.42 24.85 20.95 16.33
Bharat Forge Limited 5.71 63.05 8.40 77.60
M M Forgings Limited 8.63 15.18 10.50 86.00
Ramkrishna Forgings Limited 7.01 15.13 9.80 77.10
*Earning Per Share, Return on Networth and Net Asset Value of our Company are based on the last
audited restated consolidated financial statements for the Financial Year ended March 31, 2010.
** Based on the Issue Price to be determined on conclusion of book building process and the
basic/diluted EPS of our Company.
For Peer group companies the EPS figures are based on the consolidated audited results for the year
ended March 31, 2010 and P/E ratio is based on the consolidated Diluted EPS for the financial year
ended March 31, 2010 and Market Price (BSE) as on April 13, 2011.
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