MIRA INFORM REPORT

Report Date :

25.02.2012

IDENTIFICATION DETAILS

Name :	UTTAM GALVA METALLICS LIMITED
Registered Office :	502, Global Foyer Building, Sector – 43, Golf Course Road, Gurgaon – 122002, Haryana
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.09.2007
Com. Reg. No.:	05-037927
Capital Investment / Paid-up Capital :	Rs.4342.208 Millions
CIN No.: [Company Identification No.]	U27200HR2007PLC037927
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of CR Coil.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (31)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 21300000
Status :	Recently commenced business
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Though the company was incorporated in the year 2007, the company has recently commenced its commercial operation from the year 2010-11. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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

LOCATIONS

Registered Office :	502, Global Foyer Building, Sector – 43, Golf Course Road, Gurgaon – 122002, Haryana, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	mukesh.jaisani@uttamgalva.com
Corporate Office :	Uttam House, 69, P. D’Mello Road, Mumbai – 400009, Maharashtra, India
Tel. No.:	91-22-66563500
Fax No.:	91-22-23485025/23481598

DIRECTORS

As on 30.09.2011

Name :

Mr. Rajinderkumar Uttamchand Miglani

Designation :

Director

Address :

21 - B, Embassy Apartments, 46, Nepeansea Road, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

08.04.1946

Date of Appointment :

13.09.2007

DIN No.:

00286788

Other Directorship :

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
U74899DL1974PTC007358	Shalimar Fashions Private Limited	Director	29/04/1977	29/04/1977	21/09/2009	Active	NO
U15310MH1982PTC028104	Uttam Flour Mills Private Limited	Director	1/04/1984	1/04/1984	8/01/2010	Active	NO
L27104MH1985PLC035806	Uttam Galva Steels Limited	Whole-time director	28/07/2010	30/12/1988	-	Active	NO
U55101HR1988PLC030288	Golden Greens Golf and Resorts Limited	Director	28/08/1990	28/08/1990	-	Active	NO
U67120MH1995PLC089234	Ushdev Securities Limited	Director	10/07/1995	10/07/1995	25/09/2008	Active	NO
U27101KA1974PTC002501	Krishna Fabrications Private Limited	Director	21/08/1996	21/08/1996	23/09/2009	Active	NO
U15410MH1994PTC078062	Uttam Agro Foods (India) Private Limited	Director	15/12/1998	15/12/1998	8/01/2010	Active	NO
U27104MH2002PLC135119	Uttam Utkal Steels Limited	Director	11/03/2002	11/03/2002	19/08/2011	Active	NO
U99999MH2002PTC136311	S.S. Flour Mills (Khopoli) Private Limited	Director	25/06/2002	25/06/2002	8/01/2010	Active	NO
U29250MH2005PTC155688	Uttam Food Infrastructure Park Private Limited	Director	26/08/2005	26/08/2005	15/01/2010	Active	NO
U29105DL2005PTC143271	Arjun Ispat India Private Limited	Director	5/12/2005	5/12/2005	1/01/2009	Active	NO
U65990MH1988PLC212607	Shree Uttam Steel And Power Limited	Director	30/09/2006	10/02/2006	-	Active	NO
U45201MH2006PLC164010	Vibrant Realty and Infrastructure Limited	Director	4/09/2006	4/09/2006	-	Active	NO
U27310DL2006PLC154866	Uttam Strips Limited	Director	18/10/2006	18/10/2006	16/10/2009	Active	NO
U51909MH2006PTC164017	Vibhu Impex Private Limited	Director	6/11/2006	6/11/2006	8/01/2010	Active	NO
U67120MH1981PTC025930	Archisha Investments Private Limited	Director	15/11/2006	15/11/2006	-	Active	NO
U51100MH1998PTC115425	Palak Agency Private Limited	Director	5/01/2007	5/01/2007	6/10/2008	Active	NO
U27200HR2007PLC037927	Uttam Galva Metallics Limited	Director	13/09/2007	13/09/2007	-	Active	NO
U51420MH2008PLC184679	Uttam Distribution Network Limited	Director	15/07/2008	15/07/2008	-	Active	NO
U73100MH1970NPL014686	M.Visvesvaraya Industrial Research and Development Centre	Director	27/08/2008	27/08/2008	-	Active	NO
U27107MH2008PLC186464	Sindhudurg Iron and Steels Limited	Director	4/09/2008	4/09/2008	20/06/2011	Active	NO
U45208MH2008PTC186795	Uttam IT Park Projects Private Limited	Director	16/09/2008	16/09/2008	20/06/2011	Active	NO
U45303MH2008PTC186794	Uttam Biotechnology Park Infrastructure Private Limited	Director	16/09/2008	16/09/2008	20/06/2011	Active	NO
U27106MH2007PLC172719	First Wardha Steel Limited	Director	29/09/2010	24/10/2008	20/06/2011	Active	NO
U45202MH2008PTC178902	Revive Bu3ildzone and Dealers Private Limited	Director	22/09/2009	23/03/2009	-	Active	NO
U72900MH2009PLC195599	Real Id Limited	Director	8/09/2009	8/09/2009	-	Active	NO
U01400MH2006PTC165366	Atithi Agricultural Private Limited	Director	30/09/2010	28/04/2010	25/11/2010	Active	NO
U27100HR2010PLC040858	Uttam Metallics and Steels Limited	Director	8/07/2010	8/07/2010	-	Active	NO
U70101MH1994PTC081366	Heli Properties Private Limited	Director	30/09/2011	9/12/2010	-	Active	NO
U27100KA2010PLC053231	Uttam Galva Ferous Limited	Director	30/09/2011	16/03/2011	-	Active	NO
U27100MH2006PTC165173	Sadguru Metallics Private Limited	Additional director	26/12/2011	26/12/2011	-	Active	NO

Name :

Mr. Anuj Rajinder Miglani

Designation :

Director

Address :

21 - B, Embassy Apartments, 46, Nepeansea Road, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

01.04.1974

Date of Appointment :

13.09.2007

DIN No.:

00287097

Other Directorship :

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
U15410MH1994PTC078062	Uttam Agro Foods (India) Private Limited	Director	15/12/1998	15/12/1998	8/01/2010	Active	NO
U15310MH1982PTC028104	Uttam Flour Mills Private Limited	Director	1/04/1999	1/04/1999	8/01/2010	Active	NO
U51900MH1989PTC051001	Karishma Trading Company Private Limited	Director	13/10/2001	13/10/2001	-	Active	NO
L27104MH1985PLC035806	Uttam Galva Steels Limited	Managing director	28/07/2010	10/11/2001	-	Active	NO
U27104MH2002PLC135119	Uttam Utkal Steels Limited	Director	11/03/2002	11/03/2002	-	Active	NO
U99999MH2002PTC136311	S.S. Flour Mills (Khopoli) Private Limited	Director	25/06/2002	25/06/2002	8/01/2010	Active	NO
U67120MH1981PTC025930	Archisha Investments Private Limited	Director	19/08/2002	19/08/2002	-	Active	NO
U67120MH1981PTC025932	Siddharth Holdings Private Limited	Director	26/03/2003	26/03/2003	-	Active	NO
U51900MH1977PTC019695	Barclay Exports Private Limited	Director	26/03/2003	26/03/2003	-	Active	NO
U51311MH1971PTC015460	Sainath Trading Company Private Limited	Director	20/06/2005	20/06/2005	-	Active	NO
U29250MH2005PTC155688	Uttam Food Infrastructure Park Private Limited	Director	26/08/2005	26/08/2005	15/01/2010	Active	NO
U65990MH1988PLC212607	Shree Uttam Steel and Power Limited	Director	30/09/2006	10/02/2006	-	Active	NO
U27100MH2006PTC160649	Texturing Technology Private Limited	Director	22/03/2006	22/03/2006	5/06/2009	Active	NO
U51909MH2005PTC151831	Evergreen Tradeplace Private Limited	Director	30/09/2006	2/08/2006	-	Active	NO
U51900MH1997PLC105234	Grow Well Mercantile Limited	Director	30/09/2006	14/09/2006	15/04/2011	Active	NO
U27100MH2006PTC165173	Sadguru Metallics Private Limited	Director	6/11/2006	6/11/2006	-	Active	NO
U60231MH2007PTC172221	Ultimate Logistics Solutions Private Limited	Director	10/07/2007	10/07/2007	-	Active	NO
U27200HR2007PLC037927	Uttam Galva Metallics Limited	Director	13/09/2007	13/09/2007	-	Active	NO
U51420MH2008PLC184679	Uttam Distribution Network Limited	Director	15/07/2008	15/07/2008	-	Active	NO
U27107MH2008PLC186464	Sindhudurg Iron and Steels Limited	Director	4/09/2008	4/09/2008	-	Active	NO
U45208MH2008PTC186795	Uttam IT Park Projects Private Limited	Director	16/09/2008	16/09/2008	-	Active	NO
U45303MH2008PTC186794	Uttam Biotechnology Park Infrastructure Private Limited	Director	16/09/2008	16/09/2008	-	Active	NO
U27106MH2007PLC172719	First Wardha Steel Limited	Director	29/09/2010	24/10/2008	-	Active	NO
U45202MH2008PTC178902	Revive Buildzone and Dealers Private Limited	Director	22/09/2009	23/03/2009	-	Active	NO
U72900MH2009PLC195599	Real Id Limited	Director	8/09/2009	8/09/2009	-	Active	NO
U74899DL1990PTC039733	Tojo Associates Private Limited	Director	25/11/2009	25/11/2009	-	Active	NO
U74899DL1994PTC061749	Swilken India Private Limited	Director	25/11/2009	25/11/2009	-	Active	NO
U01400MH2006PTC165366	Atithi Agricultural Private Limited	Director	30/09/2010	28/04/2010	25/11/2010	Active	NO
U51900MH1984PLC031992	Kredence Multi Trading Limited	Director	15/09/2010	6/07/2010	-	Active	NO
U27100HR2010PLC040858	Uttam Metallics and Steels Limited	Director	8/07/2010	8/07/2010	-	Active	NO
U27100KA2010PLC053231	Uttam Galva Ferous Limited	Director	30/09/2011	9/07/2011	7/10/2011	Active	NO

Name :

Mr. Ankit Rajinderkumar Miglani

Designation :

Director

Address :

21 - B, Embassy Apartments, 46, Nepeansea Road, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

23.02.1979

Date of Appointment :

13.09.2007

DIN No.:

00444956

Other Directorship :

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
U67120MH1981PTC025932	Siddharth Holdings Private Limited	Director	26/03/2003	26/03/2003	-	Active	NO
U51900MH1977PTC019695	Barclay Exports Private Limited	Director	3/03/2004	3/03/2004	-	Active	NO
U67120MH1981PTC025930	Archisha Investments Private Limited	Director	22/09/2004	22/09/2004	-	Active	NO
U55101HR1988PLC030288	Golden Greens Golf And Resorts Limited	Director	22/12/2004	22/12/2004	-	Active	NO
L27104MH1985PLC035806	Uttam Galva Steels Limited	Managing director	29/07/2011	29/07/2005	-	Active	NO
U29250MH2005PTC155688	Uttam Food Infrastructure Park Private Limited	Director	26/08/2005	26/08/2005	15/01/2010	Active	NO
U65990MH1988PLC212607	Shree Uttam Steel and Power Limited	Director	25/02/2006	25/02/2006	-	Active	NO
U51909MH2005PTC151831	Evergreen Tradeplace Private Limited	Director	30/09/2006	2/08/2006	-	Active	NO
U51900MH1997PLC105234	Grow Well Mercantile Limited	Director	30/09/2006	14/09/2006	15/04/2011	Active	NO
U27100MH2006PTC165173	Sadguru Metallics Private Limited	Director	6/11/2006	6/11/2006	-	Active	NO
U51900MH1989PTC051001	Karishma Trading Company Private Limited	Director	30/12/2006	30/12/2006	-	Active	NO
U60231MH2007PTC172221	Ultimate Logistics Solutions Private Limited	Director	10/07/2007	10/07/2007	-	Active	NO
U27200HR2007PLC037927	Uttam Galva Metallics Limited	Director	13/09/2007	13/09/2007	-	Active	NO
U51100MH1998PTC115425	Palak Agency Private Limited	Director	21/01/2008	21/01/2008	-	Active	NO
U72300MH2007PTC170301	Hb.Com Private Limited	Director	30/09/2008	9/04/2008	-	Active	NO
U51420MH2008PLC184679	Uttam Distribution Network Limited	Director	15/07/2008	15/07/2008	-	Active	NO
U27107MH2008PLC186464	Sindhudurg Iron and Steels Limited	Director	4/09/2008	4/09/2008	-	Active	NO
U27104MH2002PLC135119	Uttam Utkal Steels Limited	Director	30/09/2008	5/09/2008	-	Active	NO
U45208MH2008PTC186795	Uttam IT Park Projects Private Limited	Director	16/09/2008	16/09/2008	-	Active	NO
U45303MH2008PTC186794	Uttam Biotechnology Park Infrastructure Private Limited	Director	16/09/2008	16/09/2008	-	Active	NO
U27106MH2007PLC172719	First Wardha Steel Limited	Director	29/09/2010	24/10/2008	27/12/2010	Active	NO
U45202MH2008PTC178902	Revive Buildzone and Dealers Private Limited	Director	22/09/2009	23/03/2009	-	Active	NO
U74899DL1990PTC039733	Tojo Associates Private Limited	Director	25/11/2009	25/11/2009	-	Active	NO
U74899DL1994PTC061749	Swilken India Private Limited	Director	25/11/2009	25/11/2009	-	Active	NO
U10100WB2009PLC140050	Moira Madhujore Coal Limited	Director	9/12/2009	9/12/2009	-	Active	NO
U27320DL2008PLC223550	Lloyds Line Pipes Limited	Director	6/08/2010	13/01/2010	12/11/2010	Active	NO
U01400MH2006PTC165366	Atithi Agricultural Private Limited	Director	30/09/2010	28/04/2010	25/11/2010	Active	NO
U51900MH1984PLC031992	Kredence Multi Trading Limited	Director	15/09/2010	6/07/2010	-	Active	NO
U27100HR2010PLC040858	Uttam Metallics and Steels Limited	Director	8/07/2010	8/07/2010	8/07/2011	Active	NO
U45202MH1994PTC081324	Bakura Properties Private Limited	Director	30/09/2011	9/12/2010	-	Active	NO
U27100KA2010PLC053231	Uttam Galva Ferous Limited	Director	30/09/2011	9/07/2011	7/10/2011	Active	NO

Name :

Mr. Omprakash Premdutt Ahuja

Designation :

Whole-time director

Address :

C/o. R. K. Flour Mills, 557, Bhandara, Lakadganj, Nagpur – 440008, Maharashtra, India

Date of Birth/Age :

30.12.1946

Date of Appointment :

05.05.2008

DIN No.:

00320978

Other Directorship :

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
U15311MP1952PTC000762	Shri Rama Krishna Flour and Besan Mills Private Limited	Managing director	27/11/1967	27/11/1967	-	Active	NO
U27200HR2007PLC037927	Uttam Galva Metallics Limited	Whole-time director	1/06/2011	5/05/2008	-	Active	NO
U27106MH2007PLC172719	First Wardha Steel Limited	Director	30/09/2009	24/10/2008	-	Active	NO
U27104MH2002PLC135119	Uttam Utkal Steels Limited	Director	30/09/2011	4/10/2010	-	Active	NO

Name :

Mr. Sanjeev Gupta

Designation :

Director

Address :

Flat 1,4" Floor, 55- 56 St. Martins Lane, London WC2N 4EA, London

Date of Birth/Age :

27.09.1971

Date of Appointment :

02.04.2010

DIN No.:

02430119

Other Directorship :

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
U74899DL2000PTC103828	Indus Resources Private Limited	Director	23/11/2003	23/11/2003	-	Active	NO
U27200HR2007PLC037927	Uttam Galva Metallics Limited	Director	30/09/2010	2/04/2010	22/12/2011	Active	NO
U51420MH2010PTC210110	Sar Metallics Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
U51101MH2010PTC210109	GT Resources Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
U51101MH2010PTC210108	Sar Power and Steel Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
U51101MH2010PTC210106	Liberty Power and Steel (India) Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
U35301MH2010PTC211391	Liberty Aviation's Private Limited	Director	27/12/2010	27/12/2010	-	Active	NO
U55101HR1988PLC030288	Golden Greens Golf and Resorts Limited	Director	30/09/2011	1/08/2011	-	Active	NO

Name :

Mr. Jeetsingh Bhaiyasingh Rathod

Designation :

Director

Address :

Nanda Cottage, Church Avenue, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

25.12.1976

Date of Appointment :

11.06.2010

DIN No.:

02738376

Other Directorship :

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
U01403MH2007PTC167854	Janeva Enterprise (India) Private Limited	Director	14/02/2007	14/02/2007	-	Active	NO
U27106MH2001PLC130441	Gupta Metallics and Power Limited	Director	22/03/2010	22/03/2010	-	Active	NO
U27200HR2007PLC037927	Uttam Galva Metallics Limited	Director	30/09/2010	11/06/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Mukesh Kumar Jaisani
Designation :	Secretary
Address :	1711, Sanghvi Bhavan, R. B. Marg, Ferbuader, Cotton Green, Murnbai- 400033, Maharashtra, India
Date of Birth/Age :	03.06.1965
Date of Appointment :	30/01/2009
Pan No.:	ABAPJ1506B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Rajinder Miglani	20000
Anuj Miglani	14980
AnkitMiglani	14980
R Agrawal	10
B. B. Handa	10
Sunil Dodani	10
Ram Gaud	10
FE Trade DMCC, UAE	84933777
Archisha Investment Private Limited, India	94000000
Grow Well Mercantile Private Limited, India	21750000
Revive Buildzone and Dealers Private Limited, India	177177415
Prawas Leasing and Finance Private Limited, India	36241935
Liberty Commodities Limited, United Kingdom	20067670
Total	434220797

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	24.18
Bodies corporate	75.81
Directors or relatives of Directors	00.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of CR Coil.

Products :

PRODUCT DESCRIPTION	ITEM CODE NO.
Pig Iron	72011000
Lam Coke	27040030

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Hot Metal and Pig Iron	MTS	NA	500000	270310.515
Coke	MTS	NA	200000	191486.628

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Corporation Bank, 104, Bharat House, B. S. Marg, Mumbai – 400023, Maharashtra, India

· Union Bank of India

· Canara Bank

· Oriental Bank of Commerce

· State Bank of India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee Term Loans	8532.619	5844.318
Foreign Currency Loans	1575.144	1590.498
Working Capital Loans	1065.212	167.210
Interest accrued due other debt secured	14.511	15.071
Total	11187.486	7617.097

Notes:

(A) 1) a) Term Loans availed from State Bank of India, Union Bank of India, Punjab National Bank, Canara Bank, Corporation Bank and Oriental Bank of Commerce ranking pari passu inter-se are secured by First mortgage and charge of all immovable properties pertaining to project both present and future and first charge by way of hypothecation of all immovable properties including movable plant and machinery, machinery spares, tools and accessories, fixtures, vehicles, mechanical and electrical equipment and all other movable assets, pertaining to project, present and future and second charge on inventory of semi finished goods, finished goods and raw materials and trade receivables, both present and future.

(B) b) ECB Loans of of USD 15 Million (USD 15 Million) equivalent to Rs. 677.06 Million (Rs. 683.66 Million) from Bank of Baroda, USD 10 Million (USD 10 Million) equivalent to Rs. 451.40 Millions (Rs 455.80 Million) from Canara Bank and USD 10 Million (USD 10 Million) equivalent to Rs. 446.48 Millions (Rs. 451.04 Million) are secured by First mortgage of all immovable properties pertaining to project both present and future and first charge by way of hypothecation of all immovable properties including movable plant and machinery, machinery spares, tools and accessories, fixtures, vehicles, mechanical and electrical equipment and all other movable assets, pertaining to project, present and future and second charge on inventory of semi finished goods, finished goods and raw materials and trade receivables, both present and future.

(C) 3) Loans from Banks on Cash Credit are Secured by: a) Hypothecation of all tangible, movable assets such as raw materials, work in progress, finished goods, stock in transit and book debts and b) The Second Charge on fixed assets of the company. 4) All the above loans are secured by Personal Guarantee of one director.

(D) 2. Interest Accrued but not due on Foreign Currency Loans

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working Capital Loans banks unsecured	2526.273	2999.989
Other Debts	1508.630	750.000
Total	4034.903	3749.989

Banking Relations :	--
Auditors :
Name :	Prakkash Muni and Associates Chartered Accountants
Address :	303, The Eagle’s Flight, Suren Road, Off Andheri Kurla Road, Andheri (East), Mumbai – 400093, Maharashtra, India
Subsidiaries :	· First Wardha Steel Limited (Formerly known as Megh Realty and Developers Private Limited) CIN No.: U27106MH2007PLC172719
	·
Associates / Joint Ventures :	· Growell Mercantile Private Limited CIN No.: U51900MH1997PLC105234 · Uttam Galva Steels Limited CIN No.: L27104MH1985PLC035806 · Sainath Trading Company Private Limited CIN No.: U51311MH1971PTC015460 · Archisa Investment Pvt. Ltd. CIN No.: U67120MH1981PTC025930 · Revive Buildzone & Dealers Pvt. Ltd. CIN No.: U45202MH2008PTC178902

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000000	Equity Shares	Rs.10/- each	Rs.10000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
434220797	Equity Shares	Rs.10/- each	Rs.4342.208 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		4342.208	3119.468	952.613
2] Share Application Money		0.000	953.850	2325.385
3] Reserves & Surplus		982.847	539.250	255.914
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5325.055	4612.568	3533.912
LOAN FUNDS
1] Secured Loans		11187.486	7617.097	4804.240
2] Unsecured Loans		4034.903	3749.989	0.000
TOTAL BORROWING		15222.389	11367.086	4804.240
DEFERRED TAX LIABILITIES		30.957	0.578	0.000
TOTAL		20578.401	15980.232	8338.152
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		14313.212	251.856	191.711
Capital work-in-progress		2949.057	11276.783	7159.324
Pre-operative Expenses		0.000	1529.292	371.443
INVESTMENT		660.500	1.000	0.100
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3964.585	1895.489	0.000
	Sundry Debtors	1208.332	0.000	0.000
	Cash & Bank Balances	559.597	249.019	57.847
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1267.741	2369.519	549.989
Total Current Assets		7000.255	4514.027	607.836
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3043.032	159.105	3.474
	Other Current Liabilities	1255.349	1443.914	5.013
	Provisions	56.513	3.232	0.682
Total Current Liabilities		4354.894	1606.251	9.169
Net Current Assets		2645.361	2907.776	598.667
MISCELLANEOUS EXPENSES		10.271	13.525	16.907
TOTAL		20578.401	15980.232	8338.152

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	7675.125	0.000	0.000
		Other Income	29.548	8.885	0.000
		TOTAL (A)	7704.673	8.885	0.000
Less	EXPENSES
		Consumption materials changes inventories	7255.614	0.000
		Manufacturing service costs	784.543	0.000
		Employee related expenses	135.753	0.000
		Administrative selling other Expenses	(814.533)	3.531
		TOTAL (B)	7361.377	3.531
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		343.296	5.354	0.000
Less	FINANCIAL EXPENSES (D)		79.059	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		264.237	5.354
Less/ Add	DEPRECIATION/ AMORTISATION (F)		35.602	1.456
	PROFIT BEFORE TAX (E-F) (G)		228.635	3.898
Less	TAX (H)		78.496	1.208
	PROFIT AFTER TAX (G-H) (I)		150.139	2.690
	BALANCE CARRIED TO THE B/S		150.139	2.690
	IMPORTS
		Raw Materials	4036.866	1445.206	0.000
		Capital Goods	152.673	1460.321	1503.800
	TOTAL IMPORTS		4189.539	2905.527	1503.800
	Earnings Per Share (Rs.)		0.40	0.01	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.95	30.27	NA
Net Profit Margin (PBT/Sales)	(%)	2.98	0.00	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.07	0.08	NA
Return on Investment (ROI) (PBT/Networth)		0.043	0.00	NA
Debt Equity Ratio (Total Liability/Networth)		3.67	2.81	NA
Current Ratio (Current Asset/Current Liability)		1.61	2.81	66.29

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS

The company has achieved a turnover of Rs.8308.920 Millions during the financial year 2010-11. The company trail run production from 26^th June, 2010 and achieved stabilization of operations by 15^th March, 2011. The company has also commenced trial run of Capative Power Plant (CPP).

FORM 8

Corporate identity number of the company	U27200HR2007PLC037927
Name of the company	UTTAM GALVA METALLICS LIMITED
Address of the registered office or of the principal place of business in India of the company	502, Global Foyer Building, Sector-43, Golf Course Road, Gurgaon – 122002, Haryana, India Email Id : mukesh.jaisani@uttamgalva.com
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	Corporation Bank, 104, Bharat House, B. S. Marg, Mumbai – 400023, Maharashtra, India Email Id : cb0443@corpbank.co.in
Nature of instrument creating charge	Deed of Hypothecation Dated 13.12.2011
Date of instrument Creating the charge	13.12.2011
Amount secured by the charge	Rs.1500.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanction letter of the Bank Terms of repayment As per sanction letter of the Bank Margin As per sanction letter of the Bank Extent and operation of the charge Second pari-passu charge on the current assets of the Company with others term and ECB Lenders
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Second pari-passu charge on the current assets of the Company, more particularly described in schedule of Deed of Hypothecation on property situated at Bhugaon, Wardha Link Road, Wardha, Nagpur - 442001, Maharashtra, India

Contingent Liabilities not provided for in respect of (As on 31.03.2011):

(a) Letters of Credit outstanding – Rs.531.200 Millions

(b) Bank Guarantees – Rs.338.196 Millions

(c) Estimated amount of contracts remaining to be executed on capital account and not provided for – Rs.226.830 Millions

FIXED ASSETS

· Land

· Furniture and Fixtures

· Office Equipments

· Computer

· Vehicles

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 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.49.07
UK Pound	1	Rs.77.19
Euro	1	Rs.65.57

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		31

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.