MIRA INFORM REPORT

Report Date :

05.07.2012

IDENTIFICATION DETAILS

Name :	U K POLYPLAST PRIVATE LIMITED
Registered Office :	B-37, New Empire Industrial Estate, Kondivita Road, Andheri (East), Mumbai-400 059, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	24.11.2004
Com. Reg. No.:	11-149674
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U25200MH2004PTC149674
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of PP Sheets, CD Holder, Document Bag, Shopping Bags, Display Books, etc.
No. of Employees :	150 Approximately [In Office + In Factory)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated loss recorded by the company for the current. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. Amol
Designation :	Marketing Department
Contact No.:	91-9664796076
Date :	29.06.2012

LOCATIONS

Registered Office :	B/37, New Empire Industrial Estate, Kondivita Road, Andheri (E), Mumbai-400 059, Maharashtra, India
Tel. No.:	91-22-66920358/ 66920354/ 30883456/ 57/ 58/ 59/ 60/ 56920358
Mobile No.:	91-9833526196 (Mr. Umesh)
Fax No.:	91-22-66920358/ 56920354
E-Mail :	ukpolyplast@yahoo.co.in
Website :	http://www.ukpolyplast.net
Area :	800 Sq.fts.
Location :	Owned
Factory :	376-10, 1^st Floor, Zari Causeway Road, Kachigam, Daman-396 210, India
Tel. No.:	91-260-3207217
Area :	10000 Sq.fts.
Location :	Rented

DIRECTORS

As on 30.09.2011

Name :

Mr. Umesh Balbeer Sharma

Designation :

Director

Address :

1503, Badrinath Tower, Seven Bunglows, Andheri (West), Mumbai-400 061, Maharashtra, India

Date of Birth/Age :

31.05.1973

Date of Appointment :

24.11.2004

DIN No.:

01237581

Name :

Mr. Bhachubhai Vagha Patel

Designation :

Director

Address :

602-B, Girnar Tower, Opposite Kalachowki Post Office, GD Ambedkar Marg, Mumbai- 400 033, Maharashtra, India

Date of Birth/Age :

08.07.1969

Date of Appointment :

24.11.2004

DIN No.:

02612138

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	U25200MH2004PTC149674	U K POLYPLAST PRIVATE LIMITED	Director	24-11-04	24-11-04	-	Active	NO
2	U70100MH2005PTC154691	BHAKTI HOMES PRIVATE LIMITED	Director	11-07-05	11-07-05	-	Active	NO
3	U36991MH2005PTC154653	Sagar Stationery Private Limited	Director	30-09-10	30-03-10	-	Active	NO

Name :

Mrs. Krishnadevi Sharma

Designation :

Director

KEY EXECUTIVES

Name :	Mr. Amol
Designation :	Marketing Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Umesh Balbeer Sharma	5100
Bachubhai Vagagi Patel	4900
Total	10000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of PP Sheets, CD Holder, Document Bag, Shopping Bags, Display Books, etc.
Products :	Ø Expanding Files Ø Display Books Ø Document Bags Ø Clear Holders Ø Photo Albums Ø 3D Products Ø OEM products Ø Visiting Card Inner Ø Sheet Protector Ø Clip Files Ø Ring Binders Ø Shopping Bags Ø Name Card Holder Ø ISO Lens PP Lenticular Sheets Ø Offset Printing PP products Ø Display Card Inner Ø Blow Films Ø CD Holders
Exports :
Products :	PP Sheets Files and Holders
Countries :	China
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Vansh Polyvinyl

Customers :

End Users

Ø Krishna Plastic

No. of Employees :

150 Approximately [In Office + In Factory)

Bankers :

Ø Axis Bank Limited, Andheri, Maharashtra, India

Ø The Saraswat Co-operative Bank Limited, Mahim Branch, GSB Temple Building, Sitaladevi Temple Road, Mahim, Mumbai-400 016, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Term Loan (Secured by hypothecation of machinery and equitable mortgage of factory premises)		8.036
Cash Credit Facility (Secured by hypothecation of stock, book debts, hypothecation of plant and machinery and equitable mortgage of factory premises)		8.986
Total	0.349	17.022
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Shareholders		13.519
From others		3.075
Total	15.648	16.594

Banking Relations :	--
Auditors :
Name :	Mr. Suresh D. Chauhan Chartered Accountant
Address :	16/196D, Cavel Cross Lane 7, Vigas Street, Kalbadevi, Mumbai-400 002, Maharashtra, India
PAN.:	AFPPC8096Q
Associates/Subsidiaries :	Ø U. K. Plastic (HUF) Address: B/37, New Empire Industrial Estate, Kondivita Road, Andheri (E), Mumbai-400 059, Maharashtra, India Line of Business: Trader of PP Sheets

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

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		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	3.173	5.807
4] (Accumulated Losses)		(0.069)	0.000	0.000
NETWORTH		0.031	3.273	5.907
LOAN FUNDS
1] Secured Loans		0.349	17.022	43.730
2] Unsecured Loans		15.648	16.594	19.183
TOTAL BORROWING		15.997	33.616	62.913
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		16.028	36.889	68.820
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.041	31.489	44.081
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.847	10.833	13.212
	Sundry Debtors	0.709	4.639	7.593
	Cash & Bank Balances	0.149	0.887	20.421
	Other Current Assets	1.261	1.260	0.977
	Loans & Advances	2.307	5.990	0.354
Total Current Assets		13.273	23.609	42.557
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		18.071	16.101
	Other Current Liabilities	15.502	0.000	0.092
	Provisions	0.130	0.251	1.782
Total Current Liabilities		15.632	18.322	17.975
Net Current Assets		(2.359)	5.287	24.582
MISCELLANEOUS EXPENSES		8.346	0.113	0.157
TOTAL		16.028	36.889	68.820

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	53.767	45.077
		Other Income	4.374	15.680
		TOTAL (A)	58.141	60.757
Less	EXPENSES
		Materials	44.556	33.901
		Payments to Employees	0.756	1.638
		Operating and General Expenses	4.949	3.291
		TOTAL (B)	50.261	38.830
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		7.880	21.927
Less	FINANCIAL EXPENSES (D)		4.146	4.858
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.734	17.069
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.368	3.679
	PROFIT BEFORE TAX (E-F) (G)		(2.634)	13.390
Less	TAX (I)		0.000	1.712
	PROFIT AFTER TAX (G-I) (J)		(2.634)	11.678
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		5.807	(5.871)
	BALANCE CARRIED TO THE B/S		3.173	5.807
	Earnings Per Share (Rs.)		263.45	1167.79

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	24.100	20.000
	(Due to Market Fluctuation)

The above information has been parted by Mr. Amol (Marketing Department).

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	-	(4.53)	19.22
Net Profit Margin (PBT/Sales)	(%)	-	(4.90)	29.70
Return on Total Assets (PBT/Total Assets}	(%)	-	(4.78)	15.46
Return on Investment (ROI) (PBT/Networth)		-	(0.80)	2.27
Debt Equity Ratio (Total Liability/Networth)		1020.29	15.87	13.69
Current Ratio (Current Asset/Current Liability)		0.85	1.29	2.37

LOCAL AGENCY FURTHER INFORMATION

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	Yes
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	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last four years	Yes
12) Profitability for last two 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	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
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
30) Major Shareholders, if available	Yes

Note: The registered office of the company has been shifted from 1503, Badrinath Tower, Opposite Sanjiv Enclave Building, 7 Bunglows, Andheri (West), Mumbai-400 061, Maharashtra, India to the present address w.e.f 04.12.2007.

TRADE REFERENCES:

Ø Krishna Plastic

Ø Vansh Polyvinyl

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	80014514
Corporate identity number of the company	U25200MH2004PTC149674
Name of the company	U K POLYPLAST PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1503, Badrinath Tower, Opposite Sanjiv Enclave Building, 7 Bunglows, Andheri (West), Mumbai-400 061, Maharashtra, India
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	The Saraswat Co-operative Bank Limited, Mahim Branch, GSB Temple Building, Sitaladevi Temple Road, Mahim, Mumbai-400 016, Maharashtra, India Email: efiling@anbindia.com
Nature of description of the instrument creating or modifying the charge	Deed of Hypothecation for Additional Advances (Supplementary Deed)
Date of instrument Creating the charge	06.10.2006
Amount secured by the charge	Rs.9.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Rate of Interest: @ 13.00% p.a., or at such other rate as may from time to time be fixed by the Bank. Terms of Repayment On demand and/or as determined by the bank from time to time. Margin Margin as determined by the bank from time to time. Extent and Operation of the charge The charge operates as a continuing security for the balance from time to time due to the bank. Others Type of Facility: Cash Credit
Short particulars of the property charged	Hypothecation by way of first charge on all the Stock tangible movable property (both present and future) belonging to the Company/s and lying and being at the Company’s place of business at Kisan Industries, B-37, Kondivita Road, Andheri (E), Mumbai-400 059 or at the Company’s place of residence and whether now lying at SIDCUL, Sector No.3, Plot No.8, Bhel, Haridwara, Uttaranchal and all the Book Debts, Outstandings, monies receivable, claims and bills.
Particulars of the present modification	Bank has granted additional Cash Credit facility of Rs.7.000 Millions. Thus the total limit and charge stand enhanced from Rs.2.500Millions to Rs.9.500 Millions.

FIXED ASSETS:

Ø Furniture and Fixture

Ø Plant and Machinery

Ø Building

Ø Land

Ø Computer

Ø Advance for Car

Ø Motor Car

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.55
UK Pound	1	Rs.85.47
Euro	1	Rs.68.70

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	DPTP

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.