MIRA
INFORM REPORT
|
Report Date : |
23.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAGAR WOOD PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Opposite Radha Swami Bhawan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
16.02.1995 |
|
|
|
|
Com. Reg. No.: |
05-32551 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U20211HR1995PTC032551 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
RTKS06630B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of different types of Ply and
Plywood, Exotic Wood. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 18000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Gaurav Goyal |
|
Designation : |
Accountant |
|
Contact No.: |
91-9896460010 |
|
Date : |
12.04.2011 |
LOCATIONS
|
Registered Office/Factory : |
Opposite Radha Swami Bhawan, |
|
Tel. No.: |
91-1732-246123 |
|
Mobile No.: |
91-9896460010 / 91-9996270775 (Mr.
Gaurav Goyal) |
|
Fax No. : |
91-1732-201193 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
HB No. 409, Tehsil Jagadhri, District Yamuna Nagar |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Ashok Chopal |
|
Designation : |
Director |
|
Address : |
H No. 193, Sector -15, Jagadhri -
135003, District – Yamuna Nagar, |
|
Date of Birth/Age : |
05.02.1962 |
|
Date of Appointment : |
16.02.1995 |
|
|
|
|
Name : |
Mr. Suresh Chopal |
|
Designation : |
Director |
|
Address : |
H No.109, Sector -15, Huda, Jagadhri -
135003, District – Yamuna Nagar, Haryana, India |
|
Date of Birth/Age : |
10.11.1955 |
|
Date of Appointment : |
01.08.2008 |
|
|
|
|
Name : |
Mr. Ramesh Chopal |
|
Designation : |
Director |
|
Address : |
H No. 133, Sector - 15, Huda, Jagadhri - 135003, District – Yamuna Nagar, Haryana,
India |
|
Date of Birth/Age : |
01.01.1952 |
|
Date of Appointment : |
16.02.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rattan Lal |
|
14700 |
|
Suresh Kumar Lal |
|
37000 |
|
Satish Kumar Lal |
|
4500 |
|
Ashok Chopal |
|
24700 |
|
Ramesh Chopal |
|
40282 |
|
Shakuntala Rattan Lal |
|
7100 |
|
Santosh Suresh Kumar |
|
1000 |
|
Amir Chand |
|
2000 |
|
Alka Rani Anil Kumar |
|
1500 |
|
Sangeeta Ashok Chopal |
|
1500 |
|
R. N. Kishore |
|
2500 |
|
Roop Chand Singh |
|
15500 |
|
Jai Singh |
|
4000 |
|
Jai Jyoti Ram |
|
2000 |
|
Kusum Jai Singh |
|
2500 |
|
Ranjana Satish Kumar |
|
1500 |
|
Chinta Devi Singh |
|
1550 |
|
Som Devi Roop Chand |
|
1500 |
|
Suleman Munsi Khan |
|
5000 |
|
Ramesh Kumar Lal |
|
5000 |
|
Satish Kuamar Lal |
|
5000 |
|
Jagjit Singh Roop Chand |
|
11000 |
|
Pushpa Rani Chopal |
|
5100 |
|
Total |
|
196432 |
As on : 30.09.2009
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of different types of Ply and Plywood, Exotic Wood. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
Wholesaler and Retailers |
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
Punjab National Bank, Aggarsen Chowk, Jagadhri - 135003, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vijay and Satish Bhatia Chartered Accountants |
|
Address : |
Civil Line, Jagadhari – 135003, |
|
Tel. No.: |
91-1732-247889 |
|
E-Mail : |
|
|
|
|
|
Associates/Subsidiaries : |
Name: Chopal Timber Company Address: Haryana Line of Business: Manufacturer of different types of Ply and Plywood,
Exotic Wood |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
196432 |
Equity Shares |
Rs.10/- each |
Rs.1.964 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.995 |
1.964 |
1.964 |
|
|
2] Share Application Money |
0.000 |
2.031 |
0.033 |
|
|
3] Reserves & Surplus |
0.549 |
0.424 |
0.472 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.544 |
4.419 |
2.469 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.552 |
7.190 |
2.457 |
|
|
2] Unsecured Loans |
4.197 |
3.378 |
4.713 |
|
|
TOTAL BORROWING |
9.749 |
10.568 |
7.170 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.293 |
14.987 |
9.639 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.151 |
8.052 |
3.573 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.453
|
5.527
|
2.928 |
|
|
Sundry Debtors |
3.652
|
3.607
|
4.896 |
|
|
Cash & Bank Balances |
0.122
|
0.105
|
0.199 |
|
|
Deposits |
1.114
|
0.950
|
0.091 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
0.138
|
0.131
|
0.247 |
|
Total
Current Assets |
10.479
|
10.320
|
8.361 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
2.998
|
3.056
|
2.056 |
|
|
Provisions |
0.339
|
0.329
|
0.239 |
|
Total
Current Liabilities |
3.337
|
3.385
|
2.295 |
|
|
Net Current Assets |
7.142
|
6.935
|
6.066 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.293 |
14.987 |
9.639 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
13.041 |
9.891 |
|
|
|
Other Income |
|
0.000 |
0.302 |
|
|
|
TOTAL (A) |
14.926 |
13.041 |
10.193 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
7.219 |
6.095 |
|
|
|
Consumable Store |
|
1.214 |
0.632 |
|
|
|
Oil and Diesel |
|
0.058 |
0.028 |
|
|
|
Power and Electricity Expenses |
|
0.938 |
0.724 |
|
|
|
Salary and Wages |
|
0.512 |
0.611 |
|
|
|
Indirect Expenses |
|
2.026 |
1.243 |
|
|
|
TOTAL (B) |
13.477 |
11.967 |
9.333 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.449 |
1.074 |
0.860 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (D) |
1.215 |
1.023 |
0.659 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT (C-D) (E) |
0.234 |
0.051 |
0.201 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.19 |
0.26 |
-- |
|
Expected Sales (2010-11) : Rs.15.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.57
|
0.39
|
1.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
0.39 |
2.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.33
|
0.28 |
1.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.01 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.88
|
3.16
|
3.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.14
|
3.05
|
3.64 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
The company has achieved sales and other receipts of Rs.14.926 Millions. During the year against the sales and other receipts of Rs.13.041 Millions during the last year. The company earned net profit of Rs.0.234 Million after charging Deprecation of Rs.1.215 Millions. The company hopes much more better results in the coming year.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
90060680 |
|
Corporate
identity number of the company |
U20211HR1995PTC032551 |
|
Name of the
company |
SAGAR WOOD
PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Opposite Radha Swami Bhawan, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Punjab National
Bank, Aggarsen Chowk, Jagadhri – 135003, |
|
Nature of description
of the instrument creating or modifying the charge |
Agreement for
Hypothecation of stock of Raw Material of Plywood, WIP, Finished goods,
Sundry Debtors and other assets acceptable to bank. |
|
Date of
instrument Creating the charge |
13/10/2008 |
|
Amount secured by
the charge |
Rs.2.500 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
15.50% PA Terms of
Repayment: As per Agreement Margin: 25% Extent and Operation
of the charge: As per Agreement |
|
Short particulars
of the property charged |
Hypothecation of
entire present and future current assets, stocks, book debts and other assets
acceptable to bank |
|
Date of latest
modification prior to the present modification |
24/03/2008 |
|
Particulars of
the present modification |
Mortgage of |
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.44.30 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
New Business |
-- |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.