MIRA
INFORM REPORT
|
Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
LAMBA TIMBER WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-37, Kirti Nagar, WHS, Timber Market, New Delhi – 110015, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
24.03.1999 |
|
|
|
|
Com. Reg. No.: |
55-098977 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51431DL1999PTC098977 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELL01780C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading In Timber |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 dealings 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 |
LOCATIONS
|
Registered Office : |
A-37, Kirti Nagar, WHS, Timber Market, New Delhi – 110015, Delhi, India
|
|
Tel. No.: |
91-11-25468480 |
|
Fax No.: |
91-11-25418480 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Tilak Raj Lamba |
|
Designation : |
Director |
|
Address : |
House No. 25, Road No. 44, Punjabi Nagh (West), New Delhi – 110026,
Delhi, India |
|
Date of Birth/Age : |
01.04.1956 |
|
Date of Appointment : |
24.03.1999 |
|
Din No.: |
00720892 |
|
|
|
|
Name : |
Mr. Manmohan Lamba |
|
Designation : |
Director |
|
Address : |
House No. 25, Road No. 44, Punjabi Nagh (West), New Delhi – 110026,
Delhi, India |
|
Date of Birth/Age : |
01.01.1966 |
|
Date of Appointment : |
24.03.1999 |
|
Din No.: |
00720921 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Tilak Raj Lamba |
|
99997 |
|
Manmohan Lamba |
|
99996 |
|
Sarla Rani Lamba |
|
1 |
|
Neelam Lamba |
|
1 |
|
Geetika Lamba |
|
1 |
|
Kapil Lamba |
|
1 |
|
B.R. Lamba and Sons (HUF) |
|
1 |
|
T.R. Lamba and Sons (HUF) |
|
1 |
|
M.M. Lamba and Sons (HUF) |
|
1 |
|
|
|
|
|
Total |
|
200000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading In Timber |
GENERAL INFORMATION
|
Customers : |
·
Ashit
Shipping Services Private Limited ·
Amul
Boards Private Limited ·
Balaji
Ply Emporium ·
Donear
Plywood Private Limited ·
Galaxy
Plywood Industries Private Limited ·
Indus
Tropics Limited ·
Jai
Bharat Timber Store ·
K.S
Enterprises ·
Kutch
Carrier Transport Crane ·
Malwa
Timber Store ·
Merino
Industries Limited ·
Merino
Services Limited ·
Mlnaxl
Handling Agency ·
Mundka
Timber Unit ·
Nikson
Plywood Industries ·
Natural
Panels ·
Rajdhani
Timber Trading Company ·
Raj
Kripal Lumbers Limited ·
San
Wud Shoppe Private Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Suppliers : |
·
Ahluwalia Contracts India Limited ·
Aayush International Marketing Company ·
Abc Joinery ·
Ahuja and Company ·
Ahuja Furnishers Private Limited ·
Anant Raj Const. and Development Private Limited ·
Ashish Timber Mart ·
Bagai Construction ·
Bansal Wooddecor Private Limited ·
Bikramjeet Ahluwalia ·
B.l. Gupta Construction (Private) Limited ·
Bamrah Wood Craft ·
Bright India Body Builders ·
Build Tec Construction ·
Chawla techno construct Limited ·
Chawla Plywood Traders ·
Classic Timber Private Limited ·
Continental Furnishers |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank
Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (W), Mumbai –
400013, Maharashtra, India ·
State
Bank of India ·
Axis
Bank Limited ·
Canara
Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
D.P. Khosla and Company Chartered Accountant |
|
Address : |
C-37, Atma Ram House, Connaught Place, New Delhi – 110001, Delhi, India
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000
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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.574 |
2.737 |
2.752 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.574 |
4.737 |
4.752 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.426 |
23.900 |
14.464 |
|
|
2] Unsecured Loans |
45.527 |
37.993 |
29.409 |
|
|
TOTAL BORROWING |
49.953 |
61.893 |
43.873 |
|
|
DEFERRED TAX LIABILITIES |
0.279 |
0.128 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54.806 |
66.758 |
48.625 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.661 |
19.937 |
15.309 |
|
|
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 |
58.594
|
22.592 |
50.974 |
|
|
Sundry Debtors |
39.831
|
45.390 |
63.782 |
|
|
Cash & Bank Balances |
1.246
|
1.869 |
3.166 |
|
|
Other Current Assets |
1.556
|
0.308 |
0.043 |
|
|
Loans & Advances |
2.439
|
2.351 |
1.923 |
|
Total
Current Assets |
103.666
|
72.510 |
119.888 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
66.127
|
24.004 |
83.913 |
|
|
Other Current Liabilities |
1.479
|
0.851 |
1.894 |
|
|
Provisions |
0.915
|
0.834 |
0.765 |
|
Total
Current Liabilities |
68.521
|
25.689 |
86.572 |
|
|
Net Current Assets |
35.145
|
46.821 |
33.316 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54.806 |
66.758 |
48.625 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover
|
134.045 |
133.663 |
175.751 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
37.466 |
21.110 |
35.348 |
|
|
|
Interest |
|
|
|
|
|
|
Deprecation |
|
|
|
|
|
|
TOTAL |
37.466 |
21.110 |
35.348 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
0.069 |
0.527 |
2.212 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.231 |
0.285 |
1.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(0.162) |
0.242 |
1.094 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value of Import |
110.773 |
13.361 |
115.496 |
|
|
TOTAL IMPORTS |
110.773 |
13.361 |
115.496 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.81) |
1.21 |
5.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(0.12)
|
0.18 |
0.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.13)
|
0.26 |
0.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03)
|
0.11 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
25.90
|
18.48 |
27.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
2.82 |
0.22 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
Company has
achieved sales turnover of Rs. 134.045 millions as compared to Rs. 133.663 millions during the
previous year. Company has earned a profit of Rs. 0.069 millions during this year
as compared to Rs. 0.527 millions in the previous year. Directors did not
recommend any dividend during the year. Accumulated profit of Rs. 2.574
millions (after making provision for tax) has been transferred to Balance
Sheet.
FIXED ASSETS :
·
Office Equipments
·
Printer HP
·
Typewriter
·
Motor Car
·
Motor Cycle
·
Scooter
·
Computer
·
Laptop
·
Building
·
Generator
FORM : 8
|
Corporate identity number of the company |
U51431DL1999PTC098977 |
|
Name of the company |
LAMBA TIMBER WORKS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
A-37 Kirti Nagar WHS, Timer Market, New
Delhi – 110015, Delhi, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
HDFC Bank Limited, HDFC Bank House
Senapati Bapat Marg, Lower Parel (W), MUMBAI – 400013, Maharashtra, India |
|
Nature of instrument creating charge |
Agreement for Loan and Guarantee. (Contracts No.:3291244) |
|
Date of instrument Creating the charge |
01.09.2009 |
|
Amount secured by the charge |
Rs. 0.630 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest Interest @ 11.56 % p.a. Terms
of repayment The Loan is repayable in 29 EMIs of
Rs.0.024 millions starting from 20th September, 2009 ending on 20th January,
2012. Margin As may be stipulated by bank from time to
time. Extent
and operation of the charge The Company hypothecates to and charges in
favour of the Bank by way of first and exclusive charge of the Vehicle/
equipment described in Item No. 15 as security for the repayment/payment by
the company of the loan granted or to be granted to the company by the Bank
together with all fees, interest,
costs and expenses incurred/to be incurred by the Bank and all other monies
payable or to become payable by the company to the Bank. Other
The Bank shall be absolutely entitled and
have full power and authority to sell, assign or transfer in any manner, in
whole or in part, and in such manner and on such terms as the Bank may
decide, including reserving a right to the Bank to retain its power to
proceed against the company on behalf of the purchaser, assignee or
transferee, any or all outstanding dues of the company, to any third party of
the Bank's choice without reference to or without written intimation to the
company |
|
Short particulars of the property charged
(Including location of the property) |
Hypothecation of Equipment namely : ACE
Mobile Hydra Crane (Year Of Manufacture: 2009) |
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. 45.37 |
|
|
1 |
Rs. 73.53 |
|
Euro |
1 |
Rs. 64.36 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.