%20LIMITED%2014-Aug-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
14.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
CENTURY PLYBOARDS
( |
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Registered Office : |
6, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
05.01.1982 |
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Com. Reg. No.: |
21-34435 |
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CIN No.: [Company
Identification No.] |
U20101WB1982PLC034435 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALC04599A |
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PAN No.: [Permanent
Account No.] |
AABCC1682J |
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Legal Form : |
A public limited
liability company. The company’s
shares are listed on Kolkata Stock Exchanges. |
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Line of Business : |
Manufacturers and
Sellers of Plywood and Veneer. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 4700000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine track.
Financial position is good. Payments are usually correct and as per
commitments. The company is doing well. It can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
6, |
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Tel. No.: |
91-33-22104321/22/23/24/25/26 |
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Fax No.: |
91-33-22483539 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plywood, Veneer and Laminate Units |
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Tel. No.: |
91-33-24709680/9155/9157 |
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Factory 2 : |
Ferro Alloy & Power Units EPIP Area, Byrnihat, Dist. Ri-Bhoi, (Meghalaya) |
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Branches : |
Located at : Ø
C/o
Prof Dinbandhu Mishra, 1st Floor, 69, Satyanagar, Bhubneshwar –
751007, Orissa Tel. No. 91-674-2508995/2432402 (Res.) Ø
Opposite
Tel. No. 91-361-2634886/2636077 Fax. No. 91-361-2545576 E-mail. cpilguw@sify.com Ø
C/o
Century Sales, Tel. No. 91-612-2522075 (Res) Mobile No. 91-9835012657 E-mail. cpilpat@rediffmail.com Ø
Krishna
Bhavan, 1st Floor, Naharpara, Mobile No. 91-9826179580 Ø
119-121,
Moriya Estate, 1st Floor, Above Hyundai Show Room, Next to Lotus Petrol Pump, New Tel. 91-22-26733426/27/28/430 Fax. 91-22-26733298 E-mail. Mumbai@centuryply.com Ø
1006-1009,
Sakar III, 10th Floor, Opp. Gujarat High Court, Near Income Tax
Circle, Ahmedabad – 380014, Gujarat Tel. No. 91-79-27545791-93 Fax. No. 91-79-27540114 E-mail. ahmedabad@centuryply.com Ø
1526,
Sadashiv Peth, Shop No. 5B, Ganesh Apartment, Pune – 411030, Tel. No. 91-20-4476180/4467906 E-mail. pune@centuryply.com Ø
Block
No. 101, Maharshi Shivpada Apartment, 262, Bajaj Nagar, W. H. C. Road, Nagpur
– 440 010, Maharashtra Tel. No. 91-712-2225613/2813095 E-mail. nagpur@centuryply.com Ø
5/2, Tel. No. 91-11-23626045/7582/2611 Fax. No. 91-11-23638185 E-mail. delhi@centuryply.com Ø
C-1-2,
Shubash Nagar Shopping Centre, Tel. No. 91-141-2280993/2280397 Fax. No. 91-141-22202447 E-mail. jaipur@centuryply.com Ø
8/1, Tel. No. 91-522-2654424/25 E-mail. lucknow@centuryply.com Ø
43,
Shreenagar Main, Tel. No. 91-731-2265987/2562889 Fax. No. 91-731-2564580 E-mail. indore@centuryply.com Ø
28/5,
Industrial Area – II, Tel. No. 91-172-2653282/2652082 E-mial. sanjay03@eth.net Ø
126/2,
Tel. No. 91-44-26614118/4119 Fax. No. 91-44-26611945 E-mail. chennai@centuryply.com Ø
84, Tel. No. 91-80-5599709/55861213 Fax. No. 91-80-5091047 E-mail. bangalore@centuryply.com Ø
Mayur
Business Centre, Tel. No. 91-484-2381124/2360462/463 Fax. No. 91-484-2354262 E-mail. kochi@centuryply.com Ø
2nd
Floor, 5-5-679/2-3, Goshamahal, Tel. No. 91-40-24734414 E-mail. hyderabad@centuryply.com |
DIRECTORS
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Name : |
Mr. B. L. Agarwal |
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Designation : |
Chairman |
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Name : |
Mr. H. P. Agarwal |
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Designation : |
Vice Chairman |
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Qualification : |
B.Com. |
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Date of Appointment : |
05.06.1982 |
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Name : |
Mr. Sajjan Bhajanka |
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Designation : |
Managing Director |
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Qualification : |
B.Com. |
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Date of Appointment : |
05.12.1986 |
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Name : |
Mr. Sanjay Agarwal |
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Designation : |
Deputy Managing Director |
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Qualification : |
B.Com. |
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Date of Appointment : |
05.06.1982 |
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Name : |
Mr. Santanu Ray |
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Designation : |
Director |
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Name : |
Mr. Manindra Nath Banerjee |
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Designation : |
Director |
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Name : |
Ajay Baldawa |
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Designation : |
Executive Director |
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Name : |
N. R. Tater |
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Designation : |
Executive Director |
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Name : |
Mangi Lai Jain |
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Designation : |
Director |
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Name : |
Sajan Kumar Bansal |
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Designation : |
Director |
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Name : |
Brij Bhushan Agarwal |
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Designation : |
Director |
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Name : |
Ms. Plistina Dkhar |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. A. K. Julasaria |
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Designation : |
Company Secretary / Finance Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Indian Promoters |
17604851 |
89.07 |
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Mutual Funds |
360712 |
1.83 |
|
Private
Corporate Bodies |
633794 |
3.20 |
|
NRIs |
17758 |
0.09 |
|
Indian Public |
1148298 |
5.81 |
|
TOTAL |
19765413 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and
Sellers of Plywood and Veneer. |
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Products : |
Its product
range includes : v
P. F.
Plywood & Blockboards (ISI marked) v
87
varieties of decorate veneer v
Resin
coated plywood, plastic coated fire retardant ply, shuttering ply and flush
door. v
Commercial
Plywood v
Boiling
Water-Proff Plywood v
Decorative
Plywood v
Shuttering
Plywood v
Block
Board v
Filmface
Plywood v
Fantasy
Plywood v
Architech
Plywood v
Firesafe
Fire Retardant Plywood v
Marine
Plywood v
v
Adhesive |
PRODUCTION STATUS
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Veneer |
CBM |
50200 |
25879* |
|
Plywood |
CBM |
25400 |
22896 |
|
Laminate Sheets |
Nos. |
2400000 |
2195176 |
|
Pre-laminated Boards |
SQM |
800000 |
132536 |
|
Ferro Silicon |
MT |
10620 |
11464 |
|
Power |
KWH |
13.80 |
89403360# |
GENERAL INFORMATION
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No. of Employees : |
2500 |
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Bankers : |
State Bank of Commercial Branch, UCO Bank Flagship Corporate Centre, Oriental Bank of Commerce |
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Facilities : |
Notes : 1. Rupee Term
Loans of Rs. 143.284 Millions from banks are secured against first charge on fixed
assets of company's Laminate unit at Bishnupur, Joka, South 24 Parganas and
second charge on current assets of the company's Plywood and Laminate units
at Bishnupur, Joka, South 24 Parganas. 2. Rupee Term
Loan of Rs. 64.211 Millions from banks and Rs. 132.500 Millions from a
financial institution and Letters of Credit for Buyer's Credit of Rs. 38.535
Millions from banks, arc secured against first charge on fixed assets of
company's Ferro Alloy and Power Units at Byrnihat, Meghalaya and second charge
on current assets of the said unit. 3. Working
capital facilities of Rs. 413.385 Millions from banks and Letter of Credit
for Buyer's Credit of Rs. 173.049 Millions are secured against first charge
on current assets of company's Plywood and Laminate Units, first charge on
fixed assets of company's Plywood Unit and 2nd charge on fixed assets of
company's Laminate Unit. 4. Working
capital facilities of Rs. 82.940 Millions from a bank is secured against
first charge on current assets of company's Fcrro Alloy and Power Unit, and
2nd charge on fixed assets of the said units. 5. Term Loans
and Working Capital facilities from Banks/Financial Institution are also
guaranteed by some of the directors of the company. 6. Hire purchase
finance from banks are secured against hypothecation of assets procured from
such finance. 7. Secured loans due within one year Rs. 101.144 Millions. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ashok Kedia & Company Chartered Accountants 4, Kailash B. Goel & Company Chartered Accountants 31, |
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Subsidiaries : |
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Associates : |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24960000 |
Equity Shares |
Rs. 10/- Each |
Rs. 249.600 Millions |
|
40000 |
Preferences
Shares |
Rs. 10/- Each |
Rs. 0.400 Million |
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Total |
|
Rs. 250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19903413 |
Equity Shares |
Rs. 10/- Each |
Rs. 199.034 Millions |
|
Subscribed
& Paid-up Capital |
|
|
|
|
19765413 |
Equity Shares |
Rs. 10/- Each |
Rs. 197.654 Millions |
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Add. |
138000 Equity
Shares Forfeited |
|
Rs. 0.354 Million |
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Total |
|
Rs. 198.008 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
198.008 |
102.790 |
102.790 |
|
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2] Share Application Money |
0.000 |
95.219 |
0.000 |
|
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3] Reserves & Surplus |
979.098 |
831.154 |
408.359 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1177.106 |
1029.163 |
511.149 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1054.688 |
791.361 |
330.371 |
|
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2] Unsecured Loans |
43.892 |
71.542 |
0.000 |
|
|
TOTAL BORROWING |
1098.580 |
862.903 |
330.371 |
|
|
DEFERRED TAX LIABILITIES |
33.089 |
44.567 |
12.556 |
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TOTAL |
2308.775 |
1936.633 |
854.076 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
756.579 |
805.202 |
349.509 |
|
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Capital work-in-progress |
11.999 |
15.989 |
2.728 |
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INVESTMENT |
363.827 |
321.472 |
21.880 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
741.375 |
676.957 |
359.643
|
|
|
Sundry Debtors |
610.012
|
468.714 |
236.852
|
|
|
Cash & Bank Balances |
120.359
|
78.577 |
35.588
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
292.311
|
188.970 |
145.518
|
|
Total
Current Assets |
1764.057
|
1413.218 |
777.601 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
584.294
|
587.671 |
275.376
|
|
|
Provisions |
4.455
|
32.292 |
23.165
|
|
Total
Current Liabilities |
588.749
|
619.963 |
298.541 |
|
|
Net Current Assets |
1175.308
|
793.255 |
479.060
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.062 |
0.715 |
0.899 |
|
|
|
|
|
|
|
|
TOTAL |
2308.775 |
1936.633 |
854.076 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
4255.554 |
2676.539 |
1861.731 |
|
|
Other Income |
46.833 |
164.736 |
|
|
|
Total Income |
4302.387 |
2841.275 |
1861.731 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
243.779 |
152.016 |
94.706 |
|
|
Provision for Taxation |
39.339 |
46.137 |
16.975 |
|
|
Profit/(Loss) After Tax |
204.440 |
105.879 |
77.731 |
|
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Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
165.321 |
66.680 |
17.800 |
|
Total Earnings |
165.321 |
66.680 |
17.800 |
|
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|
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Imports : |
|
|
|
|
|
|
Raw Materials |
798.437 |
762.060 |
|
|
|
Stores & Spares |
7.294 |
10.483 |
524.486 |
|
|
Capital Goods |
2.330 |
2.188 |
|
|
|
Others |
10.720 |
3.114 |
|
|
Total Imports |
818.781 |
777.845 |
524.486 |
|
|
|
|
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|
Expenditures : |
|
|
|
|
|
|
Cost of
Materials |
2521.176 |
1857.298 |
|
|
|
Operating &
Administrative Expenses |
1163.419 |
624.688 |
|
|
|
Personnel
Expenses |
166.147 |
100.397 |
1767.025 |
|
|
Depreciation |
128.702 |
64.720 |
|
|
|
Interest &
Finance Charges |
79.164 |
42.156 |
|
|
Total Expenditure |
4058.608 |
2689.259 |
1767.025 |
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%20LIMITED%2014-Aug-2007_files/image003.gif){kind=small}
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2007 |
|
Type |
|
|
1st
Qtr |
|
Sales
Turnover |
|
|
1243.100 |
|
Other
Income |
|
|
09.900 |
|
Total
Income |
|
|
1253.000 |
|
Total
Expenditure |
|
|
1068.200 |
|
Operating
Profit |
|
|
184.800 |
|
Interest |
|
|
20.700 |
|
Gross
Profit |
|
|
164.100 |
|
Depreciation |
|
|
28.200 |
|
Tax |
|
|
40.000 |
|
Reported
PAT |
|
|
95.900 |
NOTES:
200706
Quarter 1 –
1.The above results have been reviewed by Audit Committee and
approved by the Board of Directors at its meeting held on 30th July, 2007
2.Deferred Tax Provision will be made at the year end. 3.The Board of Directors
at their meeting held on 2nd June,2007, have approved a scheme of amalgamation,
whereby three companies namely, Sharon Veneers Private Limited, Sharon Wood
Industries Private Limited and Century Panels Private Limited, all engaged in
plywood related products will amalgamate with the company w.e.f, appointed date
1st April, 2007, Pending approval of the scheme of amalgamation by shareholders
of respective companies and respective High Courts of jurisdiction, no effect
has been given with respect to the scheme of amalgamation in above resutls. 4.
The Institute of Chartered Accountants of
KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt-Equity
Ratio |
0.90 |
0.78 |
0.75 |
|
Long
Term Debt-Equity Ratio |
0.37 |
0.42 |
0.51 |
|
Current
Ratio |
1.28 |
1.39 |
1.75 |
|
TURNOVER
RATIOS |
|
|
|
|
Fixed
Assets |
4.01 |
3.64 |
4.09 |
|
Inventory |
6.27 |
5.47 |
5.84 |
|
Debtors |
8.24 |
8.04 |
7.75 |
|
Interest
Cover Ratio |
3.62 |
3.37 |
3.23 |
|
Operating
Profit Margin(%) |
10.52 |
8.09 |
6.23 |
|
Profit
Before Interest And Tax Margin(%) |
7.63 |
5.81 |
4.21 |
|
Cash
Profit Margin(%) |
7.50 |
5.10 |
4.41 |
|
Adjusted
Net Profit Margin(%) |
4.60 |
2.82 |
2.39 |
|
Return
On Capital Employed(%) |
16.34 |
12.13 |
9.95 |
|
Return
On Net Worth(%) |
19.52 |
11.19 |
9.86 |
STOCK PRICES
|
Face Value |
Rs.10.00/- |
|
High |
Rs.426.05/- |
|
Low |
Rs.403.00/- |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Subject was
incorporated on 5th January, 1982 at Kolkata in
Subject, makers of the
well known “Century” Brand of Plywood, was set up in the year 1986 in Kolkata
and today is the leading brand in
Century have the
distinction of becoming the first ISO – 9002 Company in
It has its
manufacturing facilities at
PERFORMANCE
/ OPERATIONS REVIEW
During the year, the Company achieved Gross Income of Rs. 4524 Millions against
Rs.2893.300 Millions during the previous year reflecting a growth of over 56%.
The net profit also increased from Rs. 105.900 Millions to 204.400 Millions
reflecting growth of over 93%. The company continued its dominance in plywood
veneer and allied products increased its market share. While the profitability
of plywood and veneer divisions increased considerably, the laminates division
could not do well despite increased capacity utilization mainly due to stiff
competition. With the commencement of operations of the 13.8 MW Captive Power
Plant, the ferro alloy unit turned around and operated at 107% capacity as
against 25% capacity in the previous financial year and contributed
significantly on the top line as well as bottom line of the company.
With record performance of the cement plant of the subsidiary, on consolidated
basis also, the Company's operations grew significantly. During the year under
review, the company achieved Gross Income of Rs. 7182.500 Millions against Rs.
4565.600 Millions during the previous year, reflecting a growth of over 57%.
The net profit after minority interest also increased from Rs. 238.900 Millions
to 774.600 Millions reflecting growth of over 224%.
ISSUE
OF NEW SHARES
In accordance with the scheme of amalgamation whereby erstwhile Shyam Century
Ferrous Limited amalgamated with the company, the company has issued 95,21,865
equity shares of Rs. 10/- each to their shareholders.
SUBSIDIARIES & ASSOCIATES
Cement Manufacturing Co. Limited (CMCL) and Megha Technical & Engineers
Private Limited (MTEPL), continued to be subsidiaries of the Company. CMCL is
operating a clinker and cement unit at Lumshnong, Mehalaya and MTEPL is engaged
in generation of power at Lumshnong, Meghalaya and also hiring of heavy
equipments and vehicles used for mining. MTEPL has also set up a Clinker
Grinding Unit at Lumshnong, Meghalaya which has commenced operations in the
month of May, 2007. The combined installed capacity of both the subsidiaries is
around one million tonne of cement per annum.
During the Financial Year 2006-07 the Company acquired controlling interest in
Auro Sundaram fly & Doors Private Limited (ASPDPL) which is operating a
plywood unit at Raipur Industrial Area, Uttarakhand. Apart from access to local
agro-forestry timber, the unit is also entitled to various fiscal incentives
including excise duty and income lax exemption.
The company is required to import substantial quantities of Timber Logs and
other materials for the operation of its Plywood, Veneer and Laminate units.
The company is also operating a Jetty on licence basis with the Ministry of
Commerce, Govt. of India. to view of logistic requirements and strategic
advantages, the company made an investment in 'Century Star Shipping Limited'
(CSSL) jointly with M/s B. Ghose & Company Private Limited who are reputed
and established players in the Shipping and Logistics services. CSSL was subs
diary of the company for the period from 27.11.2006 to 15.03. 2007.
Department of Company Affairs, Government of India has
exempted the company from attaching the Annual Reports and other particulars of
its subsidiary companies along with the Annual Report of the company required
u/s 212 of the Companies Act, 1956. Therefore, the said Reports of the
subsidiary companies are not attached herewith. However, a statement giving
certain information as required by Department of Company Affairs, while
granting exemption, is separately given. The company shall provide a copy of
the Annual Report and other documents of its subsidiaries companies a,o
required u/s 212 of the Companies Act 1956 to the shareholders upon their
request free of cost. A statement of Holding Company's interest in subsidiaries
is also furnished separately.
FUTURE
OUTLOOK
Demand for Plywood, Laminates, Ferro Alloys and Cement is directly related to
the growth of construction and infrastructure sector. With the ongoing boom in
the infrastructure and construction sector, the demand for company and its
subsidiaries' products is expected to remain comfortable. The present economic
situation in the country and Government's fiscal policies also point to
buoyancy in construction and infrastructure sector. Union Budget 2006-07 laid
significant stress on overall development of infrastructure. This is evident
from 54% hike in budgetary support to the Bharat Nirman Programme and increase
in the corpus of the Rural Infrastructure Fund. In order to boost investment in
urban infrastructure, the budget has proposed to provide a grant of Rs. 45.95
billion for the Jawaharlal Nehru National Urban Renewal Mission. Furthermore,
the establishment of new towns around specific themes is likely to boost
housing and commercial activities. In order to boost environment friendly
interior materials the Finance Minister has reduced excise duty on plywood
products from 16% to 8%, which will immensely benefit the industry.
In view of present shortage and additional future demand for houses the
construction activity is expected to remain in full swing. The enormous amount
of activity in the construction industry has led to the growing demand for
cement, steel, plywood, laminates and related products. Boom time continues in
the commercial and residential construction sectors. Since Cement, Steel,
Plywood and Laminate related products are essential part of construction right
from initial brick and mortar stage to final stage of furnishing the demand for
these products is expected to remain buoyant.
FUTURE PLANS OF EXPANSION
Considering buoyant demand for the products and marketing strength of
'CENTURYPLY' brand, the company has plans for green field projects, brown field
expansions, mergers and acquisitions.
The Company has in principal decided for merger of three companies namely
Sharon Wood Industries Private Limited, Sharon Veneers Private Limited and
Century Panels Private Limited all of which are engaged in manufacturing of
plywood and allied products with significant presence in Southern and Northern
parts of the Country. With these acquisitions, the company's market share will
improve further which will provide various strategic advantages.
The Company has also applied to Centrally Empowered Committee (set up by
Hon'ble Supreme Court of India) for permission to set up new units in the
states of Uttrakhand,
The Company is also exploring possibility of marketing imported wooden flooring
and high grade metallic laminates.
The subsidiaries of the company are also having ambitious growth plans. CMCL is
proposing to expand its cement and clinker manufacturing capacity and is also
exploring possibilities of
FIXED ASSETS
- Land &
Site Development
- Non
- Leasehold
Property
- Plant &
Machinery
- Electrical
Installation
- Furniture and
Fixtures
- Office
Equipment
- Computers
- Vehicles
AS PER
WEBSITE DETAILS
Profile
The company makers of the well known ‘Century’ brand of Plywood, was set
up in the year 1986 in Kolkata and today is the leading brand in India.
Creating a special niche for itself in a short period, the company manufactures
the entire range of commercial, marine, concrete, shuttering and decorative
plywood.
The company had the distinction of becoming the first ISO 9002 company in
It has its manufacturing facilities at
The company’s product range includes almost all the varieties of plywood,
such as commercial plywood, boiling water proof plywood, decorative plywood,
shuttering plywood, block board, filmface plywood, etc.
Afte 2 years of rigorous RS & D, in the year 1998 the company
introduced 100% Termite and Bore proof plywood with 7 year comprehensive
warranty and lauched the new product in market with wide publicity and
thereafter within a few months it has become the top selling brand of plywood
in the country. As on date the borer proof Decorative plywood introduced by Century
has become the minimum benchmark in the plywood industry. Thereafter with the
help of IPIRTI, the company undertook another R & D project that is of
making 100% Boiling water proof Decorative Plywood. So far Decorative plywood
was available without Boiling water proof due to various constraints in
manufacturing the same. The company successfully concluded its R & D and
made a new mark with another innovative product i.e. 100% Boiling waterproof
Decorative plywood.
Subject is the first veneer and plywood company to posses operating ISO
9002 Quality System Certification.
Press Releases
Company release, June 29
Century Plyboards [I] Limited has declared its audited financial results for
the financial year 2004-2005. The Net profit of Century has increased from Rs.
72.800 Millions in the previous year 2003 – 2004, to Rs. 77.700 Millions in
this financial year, 2004 -2005. The Turnover of the company has shown a
tremendous increase from Rs. 1280.100 Millions to Rs. 1670.600 Millions in this
current financial year. The growth in turnover is around 30.5%
The Board has recommended a dividend of Rs.2/- per share (net and exclusive of
dividend tax) for the year 2004 - 05. Earlier a bonus issue was declared by the
Board of Directors at 2:1 ratio i.e. one share for every two held.
Addressing the media today after the results, Mr. Sajjan Bhajanka, MD, Century
Plyboards [I] Limited, said that, “Century has done well for this financial
year and their turnover has shown a significant growth. It has posted an
increase of more than 30% in respect to the last year results. They are
expecting that Century Mica (Laminates) and Century Prelam (Pre Lam Particle
Board) will lead us to a better performance in the next financial year”
On the same occasion Mr. Sanjay Agarwal, DMD, Century Plyboards [I] Limited,
reiterated that” they are maintaining the top position for last few years and
will retain it in future also. Their performance will be much better in the
coming years as now they have a bounty of product that has given us the status
of one stop manufacturer of all products related to Plywood, Veneer, Laminates
and Prelam Particle Boards. Their strong dealers network will enable us to
reach the target that they have set for the year 2005- 06.”
Century Plyboards (I) Limited, the first ISO 9002 Company in
Shri
Buddhadev Bhatacharjee, Chief Minister of West Bengal
inaugurates the Pre – Laminated Plant of CPIL
Kolkata March 26, 2005… Shri
Buddhadev Bhattacharjee, the Hon’ble Chief Minister of
The house of Century has recently started the production of Laminates with the brand name ‘Century Mica’. The installed capacity of production of the unit is that of 2,00,000 sheets per month. CPIL, in just few months time has been able to create a name of its own in not only the national market but also in the international market. CPIL, today exports laminates to the renowned Wilsonart International Inc. USA, who is the largest manufacturers of surfaces in the world. The product has been very well accepted in the international markets as the demand is consistently increasing and CPIL is getting regular orders from Wilsonart International Inc.
Mr. Sajjan Bhajanka, MD, Century
Plyboards [I] Limited, said on the occasion, “ Today we are really privileged
that their Chief Minister Shri Buddhadev Bhattacharjee could find out some time
from his busy schedule and could do the unveiling of the plant. They at Century
are totally committed to provide the best of product to their consumer and I
firmly believe that they will keep doing the same in the years to come. They
believe in customer empowerment and they stand by their product. They want that
the customer gets worth to every penny that he pays for their products.”
Century Plyboards (I) Limited, the
first ISO 9002 Company in
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.41.09 |
|
|
1 |
Rs.81.46 |
|
Euro |
1 |
Rs.55.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|