MIRA
INFORM REPORT
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Report Date : |
06.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
AGARWALLA TIMBERS PRIVATE LIMITED |
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Registered Office : |
73/7, Swarn Park, Masin Rohtak Road, Nangloi, New Delhi – 110041 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
31.03.1999 |
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Com. Reg. No.: |
55-99084 |
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CIN No.: [Company
Identification No.] |
U99999DL1999PTC099084 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA12479F / DELA14329A |
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PAN No.: [Permanent
Account No.] |
AACCA6195K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Exporter of Timber Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 120000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company. Directors are reported
as experienced and respectable businessmen. Trade relations are reported as
fair. Business is active. Payments are reported as usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
73/7, Swarn Park, Masin Rohtak Road, Nangloi, New Delhi – 110041,
India |
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Tel. No.: |
91-11-28342415 / 28343426 / 28345206 |
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Mobile No.: |
91-9810097709 |
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Fax No.: |
91-11-28344674 |
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E-Mail : |
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Corporate Office : |
Mahalaxmi Plot, Mithi Rohar, Kutch, Gandhidham – 370201, Gujarat,
India |
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Tel. No.: |
91-2836-286522 / 286523 |
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Fax No.: |
91-2836-286530 / 226899 |
DIRECTORS
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Name : |
Mr. Bhim Sain Goel |
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Designation : |
Director |
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Address : |
73/7, Swarn Park, Masin Rohtak Road, Nangloi, New Delhi – 110041,
India |
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Date of Birth/Age : |
04.03.1955 |
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Date of Appointment : |
31.03.1999 |
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Name : |
Ms. Sushma Goel |
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Designation : |
Director |
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Name : |
Mr. Subhash Chander Goel |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mukesh Agarwal and Company |
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Designation : |
Company Secretary |
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Address : |
24, Himkunj Apartments, Sector 14, Rohini, Delhi – 110085 |
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Tel No. : |
91-11-27568161 |
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Mobile No. : |
91-9868203327 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Equity Share
Breakup |
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Category |
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Percentage of Holding |
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Bodies corporate |
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12.63 |
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Directors or relatives of directors |
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87.32 |
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Other top fifty shareholders |
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0.05 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and Exporter of Timber Products. |
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Products : |
Timber Product, Timber and Thick Wood |
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Exports : |
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Countries : |
Southeast Asia |
GENERAL
INFORMATION
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
O. P. Goyal and Company Chartered Accountants |
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Address : |
2481/9, Gurudwara Road, Karol Bagh, New Delhi – 110005, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1802500 |
Equity Shares |
Rs. 10/- each |
Rs. 18.025
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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18.025 |
17.525 |
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2] Share Application Money |
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3.671 |
4.610 |
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3] Reserves & Surplus |
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9.256 |
3.757 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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30.952 |
25.892 |
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LOAN FUNDS |
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1] Secured Loans |
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4.971 |
0.450 |
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2] Unsecured Loans |
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4.291 |
4.284 |
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TOTAL BORROWING |
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9.262 |
4.734 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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40.214 |
30.626 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.619 |
2.678 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.232 |
0.186 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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28.149 |
19.469 |
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Sundry Debtors |
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116.326 |
100.219 |
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Cash & Bank Balances |
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17.286 |
15.456 |
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Other Current Assets |
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11.844 |
2.278 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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173.605 |
137.422 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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135.223 |
108.426 |
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Provisions |
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1.026 |
1.268 |
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Total
Current Liabilities |
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136.249 |
109.694 |
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Net Current Assets |
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37.356 |
27.728 |
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MISCELLANEOUS EXPENSES |
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0.007 |
0.034 |
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TOTAL |
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40.214 |
30.626 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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369.087 |
337.602 |
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Total Income |
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369.087 |
337.602 |
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Profit/(Loss) Before Tax |
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3.526 |
2.759 |
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Provision for Taxation |
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1.027 |
1.268 |
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Profit/(Loss) After Tax |
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2.499 |
1.491 |
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Imports : |
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Total Imports |
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303.477 |
246.310 |
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Expenditures : |
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Depreciation & Amortization |
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0.565 |
0.495 |
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Other Expenditure |
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364.996 |
334.348 |
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Total Expenditure |
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365.561 |
334.843 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.68 |
0.44 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.96 |
0.82 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.00 |
1.97 |
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Return on Investment (ROI) (PBT/Networth) |
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0.11 |
0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.70 |
4.42 |
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Current Ratio (Current Asset/Current Liability) |
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1.27 |
1.25 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
AGARWALLA
TIMBERS PRIVATE LIMITED |
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Presented By |
UNION BANK OF
INDIA AND AGARWALLA TIMBERS PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Agreement dated 25.05.2000 Regd. on
28.06.2000 Modified upto Rs.
126.500 Millions on 08.03.2004 Regd. on 07.04.2004 Modified upto Rs. 131.500
Millions on 07.02.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.500
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
wood logs and other products of woods, all pas, present and future book debts
and all other current and fixed assets of the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
First charge on
above assets is to secure the CC limit of Rs. 2.500 Millions |
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5) Name and Address and description of the person entitled to the charge. |
Union Bank of India, F 14/15, Connaught Circus, Connaught Place, New
Delhi – 110001, India |
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6) Date and brief description of instrument modifying the charge |
Composite Hypothecation
Deed SD 20 dated 28.10.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The amount secure
by this charge is increased from Rs. 131.500 Millions to Rs. 146.500 Millions
to secure the following credit facilities
The charge is
secured by :
Other terms and
conditions remain same. |
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Corporate
identity number of the company |
U99999DL1999PTC099084 |
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Name of the
company |
AGARWALLA TIMBERS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
73/7, Swarn Park, Masin Rohtak Road, Nangloi, New Delhi – 110041,
India |
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This form is for |
Modification of
charge |
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Type of charge |
Hypothecation
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Particular of
charge holder |
Union Bank of India, F 14/15, Connaught Circus, Connaught Place, New
Delhi – 110001, India |
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Amount secured by
the charge |
Rs. 2.500
Millions |
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Description of
the property charged indicating whether it is a charged on |
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Particulars of
the property charged |
Stocks, Book
debts, Plant and Machinery |
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Charge identification
number of the charge to be modified |
80000712 |
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Brief description
of the instrument modifying the charge under section 135 |
SD – 20 Composite
Hypotehcaiton deed |
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Date of
instrument modifying the charge |
02.03.2006 |
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Particulars of
the present modification |
The amount
secured is increased from Rs. 146.500 Millions to Rs. 157.500 Millions. The
charge is secured by stocks, book debts, plant and machinery, CA and FA Main
Rohtak Road, Nangloi, New Delhi – 110041, India or at other places. |
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
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Indian Rupees |
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US Dollar |
1 |
Rs.39.33 |
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UK Pound |
1 |
Rs.81.75 |
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Euro |
1 |
Rs.57.54 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
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 |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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