MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
A K LUMBERS LIMITED |
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Registered Office : |
92/4, WHS Block II, Kirti Nagar, New Delhi - 110 015 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
09.03.2000 |
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Com. Reg. No.: |
55-104297 |
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CIN No.: [Company
Identification No.] |
U20120DL2000PLC104297 |
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IEC No.: |
0500017166 |
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PAN No.: [Permanent
Account No.] |
AACCA6546N |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Manufacturer, Exporter and Importer of Timber and Allied Products,
Merchant Trading |
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 130000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Directors are reported as experienced, respectable
and resourceful businessmen. Their
trade relations are reported as fair.
Payments are reported as slow but correct. The company can be considered normal for business dealing at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Suresh Agarwal |
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Date : |
06.10.2008 |
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Name : |
Mr. Ram |
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Date : |
06.10.2008 |
LOCATIONS
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Registered Office : |
92/4, WHS Block II, Kirti Nagar, New Delhi - 110 015, India |
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Tel. No.: |
91-11-41421758 / 41421464 / 25462789/ 5458416 /5470061 / 5474621 / 5481576 / 30929824 / 30972555 |
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Mobile No.: |
91-9810148220 / 9310421758 / 9312262606 |
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Fax No.: |
91-11- 5483874 / 25259157 |
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E-Mail : |
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Website : |
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Area : |
900 Sq. M. |
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Location : |
Owned |
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Factory : |
73/2, Assam Timber Market, Swarn Park, Mundka, Nangloi, New Delhi -
110 041, India |
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Tel. No.: |
91-11-28341001/ 5474621 / 5481576 / 5458416 / 28341005 |
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Fax No.: |
91-11-28341006/ 5483874 |
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Area : |
3000 sq. ft. |
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Location : |
Owned |
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Factory 2 : |
Mithi Rohar, N.H.-8, Kandla Port, Gandhi
Dham, Gujarat, India |
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Tel. No.: |
91-2836-309832/ 327055 |
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Fax No.: |
91-2836-237341 |
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Factory 3 : |
Sony Path, Haryana, India |
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Tel No.: |
91-130-3294777 |
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Branch Office : |
Gandhi Dham, Survey No. 237, Chudwa Village, Gandhi Dham, Gujarat,
India |
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Tel No.: |
91-2836-32929856 |
DIRECTORS
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Name : |
Mr. Atul Kumar Jindal |
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Designation : |
Managing Director |
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Address : |
297, Ambica Vihar, Paschim Vihar, New
Delhi, India |
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Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
15 years |
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Name : |
Mr. Amit Jindal |
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Designation : |
Director |
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Address : |
297, Ambica Vihar, Paschim Vihar, New
Delhi, India |
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Age : |
34 years |
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Qualification : |
Graduate |
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Experience : |
10 years |
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Name : |
Mr. Amar Chand Jindal |
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Designation : |
Director |
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Address : |
297, Ambica Vihar, Paschim Vihar, New Delhi,
India |
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Age : |
60 years |
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Qualification : |
Graduate |
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Experience : |
45 years |
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Name : |
Ms. Sharda Jindal |
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Designation : |
Director |
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Address : |
297, Ambica Vihar, Paschim Vihar, New
Delhi, India |
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Age : |
58 years |
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Qualification : |
Graduate |
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Name : |
Mr. Prashant Goel |
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Designation : |
Director |
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Address : |
297, Ambica Vihar, Paschim Vihar, New
Delhi, India |
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Age : |
30 years |
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Qualification : |
MBA |
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Experience : |
5 years |
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Name : |
Mrs. Garima Jindal |
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Designation : |
Director |
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Address : |
297, Ambica Vihar, Paschim Vihar, New
Delhi, India |
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Date of Birth / Age : |
15.10.1977 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.11.2002 |
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Name : |
Mrs. Rekha Jindal |
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Designation : |
Director |
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Address : |
297, Ambica Vihar, Paschim Vihar, New
Delhi, India |
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Age : |
32 years |
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Qualification : |
Graduate |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names
of Shareholders |
No. of Shares |
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Atul Jindal |
56900 |
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Amit Jindal |
155000 |
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MAmar Chand Jindal |
75000 |
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Sharda Jindal |
135000 |
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Prashant Goel |
14000 |
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Garina Jindal |
90000 |
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Rakhi Jindal |
17000 |
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Total |
542900 |
List of Allotment as on 31.03.2007
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Names
of Allottees |
No. of Shares |
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M/s. Pushpanjli Exports (Private) Limited |
50000 |
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M/s. Saudagar Impex (Private) Limited |
50000 |
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M/s Stir Cement |
50000 |
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M/s Surag Advertisers (Private) Limited |
50000 |
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M/s Unnati Steels (Private) Limited |
50000 |
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M/s Yasaki Exports (Private) Limited |
50000 |
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Total |
300000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Bodies Corporate |
18.00 |
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Directors or relatives of directors |
82.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Timber and Allied Products,
Merchant Trading |
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Products : |
Sawing of wood - 96911.47 CFT |
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Exports : |
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Countries : |
·
Kuwait ·
Pakistan ·
Turkey ·
Srilanka ·
Gulf Countries ·
Muscat |
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Imports : |
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Countries : |
·
Latin America ·
Nigeria ·
Ivory Coast ·
Singapore ·
BNN |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
L/C and Credit (30 days / 60 days / 90 days) |
GENERAL
INFORMATION
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Suppliers : |
·
Ladi Impex International ·
Century Plyboards (India) Limited |
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Customers : |
·
Wholesalers ·
Retailers ·
Dealer ·
Distributor |
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No. of Employees : |
100 |
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Bankers : |
Oriental Bank of Commerce F-7, SC-1, Mansarover Garden, New Delhi – 110 015, India |
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Facilities : |
CC Rs.100.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Padam Dinesh and Company Chartered Accountants |
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Address : |
11/6-B, IInd Floor, Shanti Chambers, Pusa Road, New Delhi – 110 005,
India |
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Associates/Subsidiaries : |
Jindal Wood Products (Private) Limited Address : 92/4, WHS,
Block 2, Kirti Nagar, New Delhi Line of
Business: Timber and Allied Products |
CAPITAL STRUCTURE
(As on 29.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1750000 |
Equity Shares |
Rs.10/- each |
Rs.17.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1643300 |
Equity Shares |
Rs.10/- each |
Rs.16.433
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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16.433 |
16.433 |
13.433 |
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2] Share
Application Money |
0.100 |
0.100 |
3.100 |
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3] Reserves
& Surplus |
8.731 |
6.960 |
5.899 |
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4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
25.264 |
23.493 |
22.432 |
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LOAN FUNDS |
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1] Secured Loans |
68.720 |
52.708 |
53.692 |
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2] Unsecured Loans |
2.305 |
1.924 |
1.736 |
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TOTAL BORROWING |
71.025 |
54.632 |
55.428 |
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DEFERRED TAX LIABILITIES |
0.110 |
0.415 |
0.266 |
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TOTAL |
96.399 |
78.540 |
78.126 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.788 |
2.886 |
3.254 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
38.327
|
46.121 |
30.315 |
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Sundry Debtors |
74.948
|
61.719 |
77.112 |
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Cash & Bank Balances |
7.540
|
6.486 |
4.630 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
4.145
|
2.499 |
2.228 |
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Total
Current Assets |
124.960
|
116.825 |
114.285 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
31.549
|
40.441 |
38.763 |
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Provisions |
0.800
|
0.730 |
0.650 |
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Total
Current Liabilities |
32.349
|
41.171 |
39.413 |
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Net Current Assets |
92.611
|
75.654 |
74.872 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
96.399 |
78.540 |
78.126 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
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Sales Turnover |
206.331 |
198.433 |
200.525 |
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Other Income |
0.453 |
0.453 |
0.500 |
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Total Income |
206.784 |
198.886 |
201.025 |
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Profit/(Loss) Before Tax |
2.265 |
2.083 |
1.853 |
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Provision for Taxation |
0.494 |
1.022 |
0.895 |
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Profit/(Loss) After Tax |
1.771 |
1.061 |
0.958 |
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Expenditures : |
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Cost of Goods Sold |
190.305 |
0.000 |
0.000 |
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Purchases made for re-sale |
0.000 |
181.564 |
184.188 |
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Telephone Expenses |
0.566 |
0.000 |
0.000 |
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Salaries, Wages, Bonus, etc. |
1.135 |
0.949 |
0.824 |
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Managerial Remuneration |
0.000 |
1.085 |
1.027 |
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Payment to Auditors |
0.000 |
0.091 |
0.088 |
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Interest |
7.235 |
7.410 |
5.779 |
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Insurance Expenses |
0.198 |
0.239 |
0.346 |
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Power & Fuel |
0.643 |
0.799 |
0.868 |
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Depreciation & Amortization |
0.528 |
0.486 |
0.580 |
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Other Expenditure |
3.909 |
4.180 |
5.472 |
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Total Expenditure |
204.519 |
196.803 |
199.172 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
0.86
|
0.53 |
0.48 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.10
|
1.05 |
0.92 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.76
|
1.74 |
1.58 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.09 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.09
|
4.08 |
4.23 |
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Current Ratio (Current Asset/Current Liability) |
|
3.87
|
2.84 |
2.90 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Service Tax No. : - - |
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Excise Registration No.: - - |
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VAT / TIN : 07120129901 |
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IEC Code : 0500017166 |
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PAN / TAN : AACCA6546N |
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Bank Name : Oriental Bank of Commerce |
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Bank Address : Mansarovar Garden |
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Bank A/c. No.:09034010000010 |
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Account Since : Don’t know exactly |
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In case of any affiliations / memberships / certifications : |
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Name : ISO Certificate No. : 2006-5/0058 |
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Type : 9001-2000 |
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Expiry Date : 27.09.2009 |
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Trade References
·
Leo Timber Trade – Nanglo
·
Priyam Wood – Haryana
·
Max International
·
Ladi Impex International
·
R. K. Mehta Trading Company
Form No. 8
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Name of the company |
A K LUMBERS LIMITED |
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Presented By |
Oriental Bank of
Commerce, Mansarover Garden, New Delhi |
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1) Date and description of instrument creating the change |
Unattested
Agreement for Hypothecation of Assets for Cash Credit / over draft / Demand
loan facility dated 27.04.2001 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.21.900
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 |
First charge on
stock of all kinds of timber / wood inclusive of Raw Material, Semi-finished
and finished goods, alongwith receivable, present and future of the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin – 30% Rate of interest
– 3.5% p.a. over the Prime lending rate of the bank with a minimum of 15.5%
p.a. with quarterly rests or any other rate of which may be fixed by the Bank
from time to time. Penal Rate of
Interest – 2% p.a. with agreed rest over and above the agreed rate of
interest or any other rate of which may be fixed by the Bank from time to
time. |
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5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of
Commerce Mansarover Garden,
New Delhi – 110 015, India |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
It also acts as saw miller and project timber supplier.
Subject is the largest timber importer in India and mainly in Teak Wood
(Tectona Grandis) either round logs or roughly squared.
It imports Nigerian Logs, Break Bulk, Teak Logs, Hard Wood Saal, Plywood
Shuttering P/F Ply, Pine (Specialist - All Teakwood) etc.
It imports approx. 3000 - 4000 CBM (per month) of teak wood from all
African and South-Central American Countries.
Web Details
Profile:
Having an experience of more than 5 decades in Lumber trade serving the needs
of International Market, under one roof from logs to cut sizes, made to order,
with a back up of non-stop feeding source of imported woods from across the world.
Teak Wood and Hard Wood: They are please to
offer the finest teak wood, Burma or Plantation (African) in verity, quantity
and specification of your choice. They make great emphasis on products, quality
and reliability with an extensive knowledge and experience in lumber and log
business, they are fast growing company to become a establish player world
over.
Lumbers -Teak Burma, African,
Indian, Carribean either tropical or plantation.
Hard
Wood: Meranti, Batu, Rajjak and more ........... either AD ( Air Dried ) or KD ( Kiln Dried )
in all grades.
Available
almost in all the regular sizes for door frames, doors, furniture, flooring,
decking etc. They also offer the best quality at the most affordable prices in
teak - FEQ, FAS and all other grades.
Products:
- Ply wood
- Mouldings
- Wooden door
- Solid Wood Furniture
- Miscellaneoous
- Merchant
Exporters
(I) Building
Construction and Interior Decoration.
(A)Wood
Lumber - All Kinds of Lumbers, Air Dried (AD) and Kiln Dried (KD) for Doors
and Window frames, Components of doors & window shutter, Structured, any
and all Sawn Timber.
(1) Tropical
Timber - Batu and all other hardwood from dense forest of South-East Asia,
Africa, South-America and Solomon Iceland.
(2)SoftWood - They have very excellent and best quality Indian Pine,
Kail and Deodar (Fragrance Timber) including New-Zealand, French, African and
American Pine. They Specialized in Packaging Grade.
(II) Doors and Window Shutters.
(A) Economic- They produce this range to meet out the most
cost effective budget but without compromising about the quality made of
Hardwood, Teakwood and Flush- Shutter. Range starts from the range of just
20-60 $ (US) each
(B) Handicraft and Traditional- It is believe the entire
world Use of traditional Wooden Doors in House gives Enhancive Peace to mind
and soul. They have carefully maintained wide range of this traditional and
handicraft too. Range starts from 60-250 $ (US) each.
(III) Wooden Furniture.
(A) Traditional and Cottage- They Offer very
exclusive and wide range of Indian Traditional and Cottage Furniture. Each Item
has it’s own background. They offer entire of this furniture in traditional
Indian Sesame (Rosewood), Mango, Babool and other wood. However, all of these
Items available in Teakwood (Best wood for Furniture) but economic too.
(B) Exclusive and Wooden Carving- Large variety of Wooden
Carving Furniture beautifully Crafted and hand carved to make it Royal look.
(C) Decorative Wooden Strips (Moulding)- . Bulk quantities for
Furniture make him Industries and for big Building Material Stores. They have
more than 200 Designs and sections of exclusive Wooden Mouldings in Teakwood.
- Grooved Mouldings
- Handicraft (Carbon)
- Inlay (Wood
in Wood)
- Stair Pillar (Hand
Rail)
- Decorative
Panel
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.46 |
|
UK Pound |
1 |
Rs.83.37 |
|
Euro |
1 |
Rs.64.46 |
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 |
|