MIRA INFORM REPORT

Report Date :

22.02.2013

IDENTIFICATION DETAILS

Name :	UMA POLYMERS LIMITED
Registered Office :	C Wings, 1^st Floor, Abhay Chambers, Jalori Gate, Jodhpur – 342003, Rajasthan
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.04.1987
Com. Reg. No.:	17-003956
Capital Investment / Paid-up Capital :	Rs.111.551 Millions
CIN No.: [Company Identification No.]	U25201RJ1987PLC003956
IEC No.:	1397003634
TAN No.: [Tax Deduction & Collection Account No.]	JDHU00929F
PAN No.: [Permanent Account No.]	AAACU0748E AAACU2021J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Suppliers of Laminated Flexible Packaging Materials.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. The latest financials of the company are not made available. As per previous year’s record, the company is found to be performing well. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating: BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	15.10.2011

Rating Agency Name	CRISIL
Rating	Short Term Rating: A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	15.10.2011

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.

INFORMATION PARTED BY

Name :	Mr. Pankaj Jain
Designation :	Account Manager
Contact No.:	91-291-2868285

LOCATIONS

Registered Office :	C Wings, 1^st Floor, Abhay Chambers, Jalori Gate, Jodhpur – 342003, Rajasthan, India
Tel. No.:	91-291-2868285/ 2868290
Mobile No.:	91-9829600804 (Mr. C. L. Khimsara)
Fax No.:	91-291-2868292
E-Mail :	finance@umapolymers.com info@umapolymers.com pankaj.jain@umaxpackaging.com khalidhussain@umapolymers.com mogra@umapolymers.com upl@umapolymers.com
Website :	http://www.umapolymers.com
Area :	500 sq. ft
Location :	Rented
Factory 1:	Uma Nagar, National Highway No. 65, Pali Road, District Jodhpur-342802, Rajasthan, India
Tel. No.:	91-291-2868131 to 132
Fax No.:	91-291-2868275
E-Mail :	umapolymogra@sancharnet.in mograworks@umapolymers.com
Area :	225000 sq. ft.
Location :	Owned
Factory 2:	G-155/156, Ambaji Industrial Area, Abhu Road, District Sirohi, Santpur-307026, Rajasthan, India
Tel. No.:	91-2974-226881 to 885
Fax No.:	91-2974-226883
E-Mail :	umapolyabu@sancharnet.in abuworks@umapolymers.com
Area :	225000 sq. ft.
Location :	Owned
Marketing Office :	Noida Plot No.C-67, Sector 2, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-4335250/ 4335251
E-Mail :	umapolymersltd@yahoo.co.in noidaoffice@umapolymers.com
Area :	2500 sq. ft.
Location :	Rented
Marketing Network :	Located at: · Kolkata · Mumbai

DIRECTORS

(AS ON 28.09.2012)

Name :

Mrs. Sarita Lodha

Designation :

Director

Address :

C-66-67, Shastri Nagar, Jodhpur-342003, Rajasthan, India

Date of Birth/Age :

22.05.1966

Date of Appointment :

01.04.2004

DIN No.:

00057325

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65903RJ1995PTC009934	SHRIKUL TRADING COMPANY PRIVATE LIMITED	Director	01-02-02	01-02-02	Active	NO
2	U51101RJ1995PTC009542	UPL TRADING COMPANY PRIVATE LIMITED	Director	02-12-02	02-12-02	Active	NO
3	U25201RJ1994PTC008544	UMA POLYPACKS PRIVATE LIMITED	Director	02-12-02	02-12-02	Active	NO
4	U25201RJ1987PLC003956	UMA POLYMERS LIMITED	Director	01-02-10	01-04-04	Active	NO
5	U55101RJ2005PTC020095	MICRO RESORTS PRIVATE LIMITED	Director	04-01-05	04-01-05	Active	NO
6	U70100MH2005PTC150756	SECURE REAL ESTATE AND ENERGY PRIVATE LIMITED	Director	01-06-05	01-06-05	Active	NO
7	U74899DL1988PTC030231	NEHAR ELECTRONICS PRIVATE LIMITED	Director	10-06-05	10-06-05	Active	NO
8	U74950MH2007PLC174118	UMAX PACKAGING LIMITED	Whole-time director	01-02-10	14-09-07	Active	NO
9	U51909WB2005PTC104048	RIDDHI SIDDHI TIE-UP PRIVATE LIMITED	Director	11-01-10	11-01-10	Active	NO
10	U74140RJ2011PTC036417	UMASONS HOLDINGS PRIVATE LIMITED	Director	09-09-11	09-09-11	Active	NO
11	U51109RJ2011PTC036441	UMASONS ENTERPRISES PRIVATE LIMITED	Director	12-09-11	12-09-11	Active	NO
12	U70101RJ2011PTC036581	TRANSLAND DEVELOPERS PRIVATE LIMITED	Director	26-09-11	26-09-11	Active	NO
13	U51909WB1994PTC063823	SMDS TRADING PRIVATE LIMITED	Director	01-10-11	01-10-11	Active	NO

Name :

Mr. Shripal Raj Lodha

Designation :

Managing Director

Address :

C-66-67, Shastri Nagar, Jodhpur-342003, Rajasthan, India

Date of Birth/Age :

20.10.1958

Date of Appointment :

29.04.1987

DIN No.:

00057381

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U25201RJ1987PLC003956	UMA POLYMERS LIMITED	Managing director	01-05-09	29-04-87	Active	NO
2	U70100MH2005PTC150756	SECURE REAL ESTATE AND ENERGY PRIVATE LIMITED	Director	01-06-05	01-06-05	Active	NO
3	U51909WB2004PTC100764	REWARD EXPORTS PRIVATE LIMITED	Director	20-08-07	20-08-07	Active	NO
4	U74950MH2007PLC174118	UMAX PACKAGING LIMITED	Managing director	01-02-10	14-09-07	Active	NO
5	U74140RJ2011PTC036417	UMASONS HOLDINGS PRIVATE LIMITED	Director	09-09-11	09-09-11	Active	NO
6	U51109RJ2011PTC036441	UMASONS ENTERPRISES PRIVATE LIMITED	Director	12-09-11	12-09-11	Active	NO
7	U70101RJ2011PTC036581	TRANSLAND DEVELOPERS PRIVATE LIMITED	Director	26-09-11	26-09-11	Active	NO

Name :

Mr. Rakesh Jain

Designation :

Director

Address :

G-14, 1^st Floor, Shastri Nagar, Jodhpur-342003, Rajasthan, India

Date of Birth/Age :

12.02.1966

Date of Appointment :

01.01.2005

DIN No.:

00080086

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U25201RJ1987PLC003956	UMA POLYMERS LIMITED	Director	01-01-05	01-01-05	Active	NO
2	U51909WB2004PTC100764	REWARD EXPORTS PRIVATE LIMITED	Director	11-01-10	11-01-10	Active	NO

Name :

Mr. Gyan Prakash Mehta

Designation :

Director

Address :

807, Maker Cambers Nariman Point, Mumbai-400021, Maharashtra, India

Date of Birth/Age :

15.05.1951

Date of Appointment :

09.09.1996

DIN No.:

01350065

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U25201RJ1987PLC003956	UMA POLYMERS LIMITED	Director	09-09-96	09-09-96	Active	NO
2	U27100MH1981PTC024442	KANUNGO ALLOYS PRIVATE LIMITED	Director	01-10-98	01-10-98	Active	NO

Name :

Mr. Shrikul Lodha

Designation :

Director

Address :

C-66-67, Shastri Nagar, Jodhpur-342003, Rajasthan, India

Date of Birth/Age :

28.01.1992

Date of Appointment :

15.04.2011

DIN No.:

03011881

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51101RJ1995PTC009542	UPL TRADING COMPANY PRIVATE LIMITED	Director	30-09-11	10-01-11	Active	NO
2	U74899DL1988PTC030231	NEHAR ELECTRONICS PRIVATE LIMITED	Additional director	10-01-11	10-01-11	Active	NO
3	U74950MH2007PLC174118	UMAX PACKAGING LIMITED	Director	27-09-11	15-04-11	Active	NO
4	U25201RJ1987PLC003956	UMA POLYMERS LIMITED	Director	30-09-11	15-04-11	Active	NO
5	U74140RJ2011PTC036417	UMASONS HOLDINGS PRIVATE LIMITED	Director	09-09-11	09-09-11	Active	NO
6	U51109RJ2011PTC036441	UMASONS ENTERPRISES PRIVATE LIMITED	Director	12-09-11	12-09-11	Active	NO
7	U70101RJ2011PTC036581	TRANSLAND DEVELOPERS PRIVATE LIMITED	Director	26-09-11	26-09-11	Active	NO
8	U51909WB1994PTC063823	SMDS TRADING PRIVATE LIMITED	Director	01-10-11	01-10-11	Active	NO

KEY EXECUTIVES

Name :	Mr. Khalid Hussain
Designation :	Company Secretary
Address :	5/3, Pulia-4, Chopasni Housing Board, Jodhpur-342008, Rajasthan, India
Date of Birth/Age :	15.12.1971
Date of Appointment :	24.05.1999
Pan No.:	AATPH6919K
Name :	Mr. Pankaj Jain
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 28.09.2012)

Names of Equity Shareholders	No. of Shares
Shripal Lodha	2971450
Sarita Lodha	2356900
Shripal Raj Lodha as a karta of Shripal Raj Lodha and Sons HUF	130450
Shrikul Lodha	244700
Shrikruti Lodha u/g of Shripal Lodha	120600
Shruti Lodha	121500
Shrikul Trading Company Private Limited, India	755000
Uma Polypacks Private Limited, India	415000
Ravindra Rajpurohi	100
Rakesh Jain	200
C L Khimsara	100
Bishan Rathore	300
Ram Meghwal	100
Micro Resorts Private Limited, India	187500
Reward Exports Private Limited, India	1032500
Secure Real Estate and Energy Private Limited, India	42500
Riddhi Siddhi Tie-Up Private Limited, India	1045000
Diamond Financial Consultants Private Limited, India	231250
SMDS Trdaing Private Limited, India	43750
Total	9698900
Names of Preference Shareholders	No. of Shares
Uma Polypacks Private Limited, India	140000
SMDS Trdaing Private Limited, India	3760000
Reward Exports Private Limited, India	135000
Total	4035000

(AS ON 30.09.2012)

Equity Shares Break – up

Category	Percentage
Bodies corporate	39.00
Directors or relatives of Directors	61.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Suppliers of Laminated Flexible Packaging Materials.
Products :	Domestic Market · Tata Salt · J.K. White Cement · Pillsbury Atta · GRASIM - Birla White Cement · Dhampur Sugar · Shakti Bhog Tea · Modi Sugar · Shakti Bhog Salt · MDH Spices · Haldiram · Britannia · Vadilal · Hero Honda International Market · Herbal Products

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Actual Production
Pouches	Nos.	193392611
Flexible Rolls	MT	3805.475
Scrap Generated	MT	605.413

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

· State Bank of Bikaner and Jaipur

City Branch, Kapda Bazar, Chandi Hall, Jodhpur - 342001, Rajasthan, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans secured
Rupee term loans banks secured	42.891	25.582
Working capital loans secured
Working capital loans banks secured	122.485	112.394
Total	165.376	137.976

Banking Relations :	--
Auditors :
Name :	Rajendra Jain and Associates Chartered Accountant
Address :	Kalptaru Shopping Centre, Opposite Manidhari Hospital, Residency Road, Jodhpur, India
Tel. No.:	91-291-2627730
Mobile No.:	91-9829021236
Associates :	UPL Trading Company Private Limited CIN No.: U51101RJ1995PTC009542 Secure Real Estate and Energy Private Limited CIN No.: U70100MH2005PTC150756 Nehar Electronics Private Limited CIN No.: U74899DL1988PTC030231 Uma Polypacks Private Limited CIN No.: U25201RJ1994PTC008544
Subsidiaries :	Umax Packaging Limited CIN No.: U74950MH2007PLC174118

CAPITAL STRUCTURE

(AS ON 28.09.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
11000000	Equity Shares	Rs.10/- each	Rs.110.000 Millions
4500000	Preference Shares	Rs.10/- each	Rs. 45.000 Millions
	Total		Rs.155.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9698900	Equity Shares	Rs.10/- each	Rs.96.989 Millions
4035000	Preference Shares	Rs.10/- each	Rs.40.350 Millions
	Total		Rs.137.339 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
11000000	Equity Shares	Rs.10/- each	Rs.110.000 Millions
1500000	Preference Shares	Rs.10/- each	Rs. 15.000 Millions
	Total		Rs.125.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9655150	Equity Shares	Rs.10/- each	Rs.96.551 Millions
1500000	Preference Shares	Rs.10/- each	Rs.15.000 Millions
	Total		Rs.111.551 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		111.551	105.552	113.189
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		410.804	338.859	303.248
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		522.355	444.411	416.437
LOAN FUNDS
1] Secured Loans		165.376	137.976	122.019
2] Unsecured Loans		16.930	19.810	23.263
TOTAL BORROWING		182.306	157.786	145.282
DEFERRED TAX LIABILITIES		7.775	6.595	0.000
TOTAL		712.436	608.792	561.719
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		178.758	142.018	143.916
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		282.307	208.807	204.076
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	115.849	92.707	113.256
	Sundry Debtors	169.900	122.645	129.237
	Cash & Bank Balances	25.830	26.098	11.911
	Other Current Assets	0.000	0.000	4.121
	Loans & Advances	66.576	74.226	30.213
Total Current Assets		378.155	315.676	288.738
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	98.889	28.394	51.783
	Other Current Liabilities	118.968	48.190	19.408
	Provisions	7.816	9.519	3.820
Total Current Liabilities		126.784	57.709	75.011
Net Current Assets		251.371	257.967	213.727
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		712.436	608.792	561.719

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1155.350	809.942	903.512
		Other Income	7.610	6.664	5.425
		TOTAL	1162.960	816.606	908.937
Less	EXPENSES
		Consumption material changes inventories	973.826	648.240	670.021
		Cost of Material	0.000	0.000	5.827
		Cost of Trading Goods	0.000	0.000	14.531
		Stores and Components Consumed	0.000	0.000	36.108
		Manufacturing Service Cost	31.544	29.371	51.148
		Employee related expenses	38.544	30.035	38.253
		Administrative Expenses	36.754	34.450	20.938
		Prior period items	0.020	0.061	0.000
		TOTAL	1080.688	742.157	836.826
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		82.272	74.449	72.111
Less	FINANCIAL EXPENSES		16.388	14.393	16.421
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		65.884	60.056	55.690
Less/ Add	DEPRECIATION/ AMORTISATION		15.373	16.619	16.187
	PROFIT BEFORE TAX		50.511	43.437	39.503
Less	Prior Period Adjustments		0.000	0.000	0.003
Less	TAX		19.342	16.637	13.770
	PROFIT AFTER TAX		31.169	26.800	25.730
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		161.970	136.398	111.718
Less	APPROPRIATIONS
		Preference Dividend	1.050	1.050	1.050
		Tax on Dividend	0.174	0.178	0.000
	BALANCE CARRIED TO THE B/S		191.915	161.970	136.398
	EARNINGS IN FOREIGN CURRENCY		5.792	1.162	5.409
	IMPORTS
		Raw Materials	19.503	72.832	110.339
		Capital Goods	16.062	0.000	8.276
	TOTAL IMPORTS		35.565	72.832	118.615
	Earnings Per Share (Rs.)		3.40	3.28	2.92

Particulars	31.03.2012
Sales Turnover (Approximately)	1490.000

Expected Sales (2012-13): Rs.1600.000 Millions

The above information has been parted by Mr. Pankaj Jain.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.68	3.28	2.83
Net Profit Margin (PBT/Sales)	(%)	4.37	5.36	4.37
Return on Total Assets (PBT/Total Assets}	(%)	9.07	9.49	9.13
Return on Investment (ROI) (PBT/Networth)		0.10	0.10	0.09
Debt Equity Ratio (Total Liability/Networth)		0.61	0.50	0.53
Current Ratio (Current Asset/Current Liability)		2.98	5.47	3.85

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	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 three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
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	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	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	Yes

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Working capital loans unsecured
Working capital loans others unsecured	16.538	19.090
Loans directors unsecured	0.392	0.720
Total	16.930	19.810

FINANCIAL RESULTS

The profits increased to 50.500 Millions as compared to 43.500 Millions in the previous year mainly on account of overall good performance of the Company in every field, which resulted in to the boosting results.

FORM 8

Corporate identity number of the company	U25201RJ1987PLC003956
Name of the company	UMA POLYMERS LIMITED
Address of the registered office or of the principal place of business in India of the company	C-Wings,1st Floor, Abhay -Chambers, Jalori Gate, Jodhpur, Rajasthan, India khalidhussain@umapolymers.com
This form is for	Modification of charge
Charge identification (id) number of the charge to be modified	90069796
Type of charge	Immovable property Book Debts Movable Property Others: Hypothecation of Stock and Other Current Assets
Particular of charge holder	State Bank of Bikaner and Jaipur City Branch, Kapda Bazar, Chandi Hall Jodhpur - 342001, Rajasthan, India sbbj10200@sbbj.com
Nature of instrument creating charge	Letter Regarding the Grant of Individual Limits within the Overall Limit, dated: 05/09/2012.
Date of instrument Creating the charge	05/09/2012
Amount secured by the charge	Rs.360.000 Millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of interest Cash Credit (Hyp):2.75% above base rate,i.e., 13.25% p.a. Inland/Foriegn LC:400 basis points above 6 months LIBOR rate. Terms of repayment Repayable in 20 equal Quarterly installment of Rs 60,00,000 starting from March 2012.. Margin Raw Material, Finished Goods, Stock in process, Land and Building/Plant and Machinery - 25% Book Debts (Not older than 90 days) Extent and operation of the charge Bank has enhanced Working Capital Limit from Rs.310.000 Millions to Rs.360.000 Millions, secured by: Primary Security of: 1)F irst Charge by way of Hypo. on all the stock and receivables of the co. viz.raw material, stock in process, finished goods, stores, spares and book debts and other current assets lying at: -Khasra No.48,Village Mogra, Khurd Pali Road, Tehsil-Luni, District Jodhpur, -G-155,156 Ambaji Ind. Area, Abu Road, Sirohi Others: The above stated Working Capital Limit is further secured by: Collateral Security of: 2)First charge by way of Equitable Mortgage on entire fixed assets of the company,consisting of properties situated at: - Khasra No. 48, Village Mogra, Khurd Pali Road, Tehsil - Luni, Distt. Jodhpur, - G-155,156 Ambaji Industrial Area,Abu Road, Sirohi, and - B-62 RIICO, Residencial Area, Abu Road. 3)Pledge of Fixed Deposit of Rs.1.200 Millions in name of Uma Polymers Ltd.
Short particulars of the property charged (Including location of the property)	All the stock and receivables of the company viz. raw material, stock in process, finished goods, stores, spares and book debts and other current assets lying at Mogra and Abu Road units of the company. Property situated at Khasra No. 48, Village Mogra, Khurd Pali Road, Tehsil - Luni, Distt. Jodhpur Property situated at G-155,156 Ambaji Industrial Area, Abu Road, Sirohi. Property situated at B-62, RIICO Colony, Abu Road,Sirohi
Date of instrument modifying the charge	19/05/2012
Particulars of the present modification	Overall Working Capital Limit has increased from Rs.310.000 Millions to Rs.360.000 Millions, consisting of: Cash Credit(Hypo) - Rs.200.000 Millions [WCDL:Rs.200.000 Millions and FCNR(B) Rs.1000.00 (within CC limit)] Inland/Improt LC - Rs.160.000 Millions ______________ TOTAL - Rs. 360.000 Millions

FIXED ASSETS

· Freehold Land

· Leasehold Land

· Building

· Plant and Machinery

· Office Equipments

· Furniture and Fixtures

· Computers

· 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 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.54.48
UK Pound	1	Rs.82.71
Euro	1	Rs.72.23

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

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.