UNAUDITED				AUDITED
Sr No	PARTICULARS	31st  DEC-07	31st DEC-06	31st  DEC-07	31st DEC-06	31 st  Mar-07
1.	Sales / Income from operatons (Gross)	214.05	540.92	466.42	4,876.04	4,877.22
	Less:Excise Duty	29.91	62.31	66.51	601.14	601.14
	Net Sales/Income from Operation(Net)	184.14	478.61	399.92	4274.90	4276.08
2.	Other Income	6.19	3.37	35.19	25.14	472.40
3.	Total Income (1+2)	190.34	481.98	435.12	4,300.04	4,748.48
4.	Expenditure
	a) (Increase)/decrease in stock in trade and Work In Progress	(45.31)	179.22	(476.90)	(190.79)	258.41
	b) Consumption of raw materials	135.20	305.44	715.04	3,050.01	3,052.51
	c) Employees Cost	73.12	80.71	227.28	238.53	322.64
	d)Depreciation	121.55	121.51	364.39	364.30	485.97
	e) Power & Fuel	96.34	123.19	332.14	942.31	970.19
	f) Other Expenditure	99.15	87.81	388.96	561.96	598.81
	g)Total	480.05	897.88	1,550.89	4,966.32	5,688.52
5	Interest	77.19	113.65	258.87	319.46	403.87
6	Exceptional Items	-	-	-	-	39.45
7	Profit/(Loss) from Ordinary Activities before Tax (3) - (4+5+6)	(366.88)	(529.55)	(1,374.65)	(985.74)	(1,383.36)
8	Tax expenses	0.65	2.77	3.18	4.56	5.93
9	Profit/(Loss) from Ordinary Activities after Tax (3) - (4+5+6)	(367.53)	(532.32)	(1,377.83)	(990.30)	(1,389.29)
10	Extraordinary Items (net of Tax expense Rs. Nil)	-	-	-	-	-
11	Profit/(Loss) for the period(9-10)	(367.53)	(532.32)	(1,377.83)	(990.30)	(1,389.29)
12	Paid-up equity share capital (Face value of Rs.10 each)	1590.20	5,300.67	1,590.20	5,300.67	5,300.67
13	Reserves Excluding Revaluation Reserve as per balance sheet of previous accounting year	-	-	-	-	-
14	Earnings Per Share (EPS)
	a) Basic and diluted EPS before extraordinary items for the period, for the year to date and for the previous year (Not Annualised)	(2.31)	(1.00)	(8.66)	(1.87)	(2.62)
	b) Basic and diluted EPS after extraordinary items for the period, for the year to date and for the previous year (Not Annualised)	(2.31)	(1.00)	(8.66)	(1.87)	(2.62)
15	Public shareholding
	- Number of Shares	7,891,619	26,305,391	7,891,619	26,305,391	26,305,391
	- Percentage of shareholding	49.63%	49.63%	49.63%	49.63%	49.63%

 

 

       Notes:

 

1.      The above results were recommended by the Audit committee and were taken on record at the meeting of   Board of Directors held on Jan 25, 2008.

 

2.      Although the accumulated losses exceed the net worth of the Company, these results have been prepared by the Management on a “going concern” basis taking into account the financial support of promoters/shareholders, the long term restructuring package agreed and finalized with financial institutions and banks and likely to be revised after revised CDR proposal accepted by core group.

 

3.      a) There was a fire on October 24, 2006 in the finishing area of the plant resulting in substantial losses of stocks and fixed assets and consequently complete stoppage of production activity. The plant resumed its operations in the month of July – 2007 with very low capacity utilization resulting into higher losses during the quarter. The plant as again shut down from 15^th October,2007 for want of working Capital and has not resumed till date.

 

      b) The claim for loss of fixed assets destroyed in fire is yet to be finalized and settled by the Insurance Company. Loss, if any, shall be accounted for on final settlement of claim by the Insurance Company.

 

4.       (a) The  Corporate Debt Re-structuring Cell (CDR) of Financial Institutions and Banks had sanctioned a comprehensive  restructuring package of company’s debts and liabilities which inter alia among others provides  for reduction of rate of interest on secured and unsecured loans, waiver of a part of overdue interest, reschedulement of repayment of loans, reduction in equity capital (existing by 70%), conversion of certain debts/ interest  on term loan and ZCNCD’s into equity, induction of fresh capital by promoters etc. SASF (ZCNCD’S owed to IDBI have been assigned to ‘SASF’, a trust constituted by Government of India under the trust deed dated September 24, 2004), IFCI, ICICI, LIC, State Bank of India, State Bank of Travancore, State Bank of Bikaner & Jaipur and Bank of India have also given sanctions in line with the re structuring package sanctioned by CDR. Consequent to fire and stoppage of plant the Company has requested CDR cell for further restructuring of sanctioned package and the same has been approved  in principle, by the core group of CDR. The revised working has been submitted and circulated by the lead banker to all FIs and Banks on November 14,2007 and the same will be checked and Monitoring committee meeting will be called to discuss the same.

 

(b) ASREC (India) Ltd. has sanctioned settlement proposal in respect of dues payable by company to UTI including waiver of overdue interest. Pending approval of the same by CDR, effect of the same has not been given in these results, except providing interest @ 8.25 %(reduced rate) w.e.f April 1, 2007. Consequent to fire and stoppage of plant, the Company has requested ASREC (India) Ltd. for further time for repayment of amount payable under the above settlement. Regarding one time settlement with UTI and partial implementation of the terms of settlement pending approval of the same by the CDR.

 

    

 

 

    

     5.    Qualification given in the auditors report on the Financial statement for the year ended 31^st March,2007are receiving our attention and would be resolved in due course.

 

6.  Pursuant to the approval of Hon’ able High court of Mumbai, the issued and paid up equity share capital of the Company was reduced from Rs.53,00,66,650 divided in to 5,30,06,665 equity share of Rs. 10/- each fully paid up to Rs. 15,90,19,990 divided in to 1,59,01,999 equity shares of Rs. 10/- each fully paid up by cancellation of the existing paid up equity share capital in ratio of cancellation of seven (7) equity shares of Rs. 10/- each out of every Ten (10) equity shares of Rs.10/- each held by the equity share holder. 

 

7.   The Company is primarily engaged in one segment i.e. EPDM rubber.

 

                           

8.   There were no investors’ complaints pending at the beginning and at the end of the quarter. During the   quarter 342 complaints were received and were disposed of.

 

 

9.   In view of carry forward unabsorbed losses and depreciation no provision for current tax is required and as a matter of prudence deferred tax asset has not been recognized.

 

10.       The Previous period figures have been regrouped and rearranged wherever necessary. Quarterly  annual results are not comparable with the figures of corresponding periods of the previous year for the reasons stated in Para 3(a) above.

					By Order of the Board
					For UNIMERS INDIA LIMITED
Place:	Mumbai
Date:	January 25, 2008	Senior Manager (Finance & Accounts)			Whole Time Director