MIRA INFORM REPORT

Report Date :

01.11.2011

IDENTIFICATION DETAILS

Name :	JINDAL WOOD PRODUCTS PRIVATE LIMITED
Registered Office :	92/4, WHS Block – 2, Kirti Nagar, New Delhi – 110015
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	05.12.1990
Com. Reg. No.:	55-042264
Capital Investment / Paid-up Capital :	Rs.10.838 Millions
CIN No.: [Company Identification No.]	U74899DL1990PTC042264
TAN No.: [Tax Deduction & Collection Account No.]	DELJ04283G
PAN No.: [Permanent Account No.]	AAACJ8848C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Timber Tropical Timber, Softwood, Teak Wood, White/ Pine Wood, Plywood, Mouldings.
No. of Employees :	212 (Approximately) [In Office – 12 and In Factory – 200]

RATING & COMMENTS

MIRA’s Rating :

B (33)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 82000
Status :	Moderate
Payment Behaviour :	Slow but correct
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 but correct. 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.

INFORMATION PARTED BY

Name :	Mr. Anurag
Designation :	Accounts Department
Contact No.:	91-11-41421758
Date :	31.10.2011

LOCATIONS

Registered Office :	92/4, WHS Block – 2, Kirti Nagar, New Delhi – 110015, India
Tel. No.:	91-11-41421758/ 41421464
Mobile No.:	91-9810148220 (Mr. Atul Jindal)
Fax No.:	91-11-41421360
E-Mail :	atuljindal@yahoo.com padamdinesh@yahoo.com info@aklumbers.com
Website :	www.aklumbers.com
Location :	Owned
Factory 1 :	Survey No. 237, Opposite Gayatri Petrol Pump, N. H. – 8, Chudwa Village, Gandhidham, Gujarat, India
Tel. No.:	91-2836-329832/ 329856
Factory 2 :	132, Assam Timber Market, Rajdhani Park, Mundka, Nanglol, New Delhi – 110041, India
Tel. No.:	91-11-28341001 to 5
Fax No.:	91-11-28341006
Factory 3 :	Unit – Plot No. 403, Marshaling Yard, Kasez – 370230, Gandhidham, Gujarat, India
Overseas Office :	Prima Home Hardware, 7171, Torbram Road, Unit 8, Mississauga Ontario L4T 3W4, Canada
Tel. No.:	9059082550
Fax No.:	9059082540
E-Mail :	primahomehardware@gmail.com

DIRECTORS

As on 27.09.2010

Name :

Mr. Atul Kumar Jindal

Designation :

Director

Address :

297, Ambica Vihar, Paschim Vihar, New Delhi – 110015, India

Date of Birth/Age :

02.09.1969

PAN No. :

AAJPJ-0286-A

Date of Appointment :

05.12.1990

DIN No.:

01187828

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U74899DL1990PTC042264	Jindal Wood Products Private Limited	Director	5/12/1990	5/12/1990	-	Active	NO
U20120DL2000PLC104297	A K Lumbers Limited	Managing director	28/09/2009	9/03/2000	-	Active	NO
U74899DL1975PTC007652	Punjab Metal Works Private Limited	Director	31/12/2005	31/12/2005	-	Active	NO

Name :

Mr. Amit Jindal

Designation :

Director

Address :

297, Ambica Vihar, Paschim Vihar, New Delhi – 110015, India

Date of Birth/Age :

08.02.1973

PAN No. :

AAIPJ-2611-K

Date of Appointment :

05.12.1990

DIN No.:

01051655

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U74899DL1990PTC042264	Jindal Wood Products Private Limited	Director	5/12/1990	5/12/1990	-	Active	NO
U20120DL2000PLC104297	A K Lumbers Limited	Whole-time director	28/09/2009	9/03/2000	-	Active	NO
U74899DL1975PTC007652	Punjab Metal Works Private Limited	Director	31/12/2005	31/12/2005	-	Active	NO

Name :

Mr. Amar Chand Jindal

Designation :

Director

Address :

297, Ambica Vihar, Paschim Vihar, New Delhi – 110015, India

Date of Birth/Age :

23.08.1942

PAN No. :

AACFJ-6302-Q

Date of Appointment :

05.12.1990

DIN No.:

01196899

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U74899DL1990PTC042264	Jindal Wood Products Private Limited	Director	5/12/1990	5/12/1990	-	Active	NO
U20120DL2000PLC104297	A K Lumbers Limited	Whole-time director	28/09/2009	9/03/2000	-	Active	NO
U74899DL1975PTC007652	Punjab Metal Works Private Limited	Director	31/12/2005	31/12/2005	-	Active	NO

Name :

Mr. Prashant Pawan Kumar Goel

Designation :

Director

Address :

297, Ambica Vihar, Paschim Vihar, New Delhi – 110015, India

Date of Birth/Age :

07.07.1975

PAN No. :

AEGPG-6552-F

Date of Appointment :

01.01.2006

DIN No.:

01327305

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U20120DL2000PLC104297	A K Lumbers Limited	Director	9/03/2000	9/03/2000	-	Active	NO
U74899DL1975PTC007652	Punjab Metal Works Private Limited	Director	31/12/2005	31/12/2005	-	Active	NO
U74899DL1990PTC042264	Jindal Wood Products Private Limited	Director	1/01/2006	1/01/2006	-	Active	NO
U20219GJ2011PTC067545	Faith Lumber Private Limited	Director	19/10/2011	19/10/2011	-	Active	NO

Name :

Ms. Sharda Jindal

Designation :

Director

Address :

297, Ambica Vihar, Paschim Vihar, New Delhi – 110015, India

Date of Birth/Age :

16.05.1946

PAN No. :

AAHPJ-5842-L

Date of Appointment :

01.01.2006

DIN No.:

01051730

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U20120DL2000PLC104297	A K Lumbers Limited	Director	9/03/2000	9/03/2000	-	Active	NO
U74899DL1990PTC042264	Jindal Wood Products Private Limited	Director	1/01/2006	1/01/2006	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Anurag
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2010

Names of Shareholders	No. of Shares
Amar Chand Jindal	4100
Atul Jindal	55300
Amit Jindal	28460
Atul Jindal (HUF)	720
Amit Jindal (HUF)	2620
Prashant Goel	3650
Rakhi Jindal	3160
Pawan Kumar Goel (HUF)	3070
Garima Jindal	600
Sharda Jindal	6700
Total	108380

Equity Share Break up (Percentage of Total Equity)

As on 27.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Timber Tropical Timber, Softwood, Teak Wood, White/ Pine Wood, Plywood, Mouldings.
Exports :
Products :	· Timber
Countries :	· Argentina
Terms :
Selling :	L/C/ Cash/ Credit
Purchasing :	L/C/ Cash/ Credit

GENERAL INFORMATION

Customers :

· End Users

No. of Employees :

212 (Approximately) [In Office – 12 and In Factory – 200]

Bankers :

· Oriental Bank of Commerce Limited, Mansarover Garden, H. O. Hans Bhawan, New Delhi – 110015, Delhi, India

· HSBC Bank

· SBI Bank

· HDFC Bank, Gandhidham

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Oriental Bank of Commerce – CC-33	17.457	17.467
Oriental Bank of Commerce – PC\PCFC	16.713	18.183
Oriental Bank of Commerce – FDBP\FUDBP (Secured against Hypothecation of both Stocks and Book Debts and personal guarantee of directors, Corporate Guarantee of group Company equitable mortgage of immovable properties of directors and charge on entire existing/future fixed assets of the company)	1.619	1.032
HDFC Car Loan – Altis	0.568	0.873
HDFC Car Loan – Swift	0.146	0.278
HDFC Car Loan – Hydra Loan	0.000	0.248
ICICI Bank Car Loan – Wagnor	0.000	0.047
OBC Term Loan (Machinery)	0.904	0.858
Total	37.407	38.986
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Jindal Bandhu Kasth Bhandar, Dibai	1.108	1.000
Pawan Goel Loan, Varanasi	1.342	0.645
Amit Jindal - HUF	0.260	0.000
Atul Jindal - HUF	0.320	0.000
Sharda Jindal	0.325	0.000
Total	3.355	1.645

Banking Relations :	--
Auditors :
Name :	Padam Dinesh and Company Chartered Accountants
Address :	11/6 – B, II nd Floor, Shanti Chambers, Pusa Road, New Delhi – 110015, India
Tel. No.:	91-11-25818728/ 27/ 28 91-11-41452451/ 52/ 42503089
E-Mail :	counsel@airtelmail.in padamdinesh@yahoo.com
PAN.:	AAAFP9361P
Enterprise owned by Directors or Major Shareholders :	· K. Lumbers Limited · Punjab Metals Works Private Limited, Sonipeth, Haryana, India · Jindal Bandhu Kasth Bhandar

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
110000	Equity Shares	Rs.100/- each	Rs.11.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
108380	Equity Shares	Rs.100/- each	Rs.10.838 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		10.838	9.838	7.617
2] Share Application Money		0.180	1.000	0.721
3] Reserves & Surplus		9.539	7.977	5.693
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		20.557	18.815	14.031
LOAN FUNDS
1] Secured Loans		37.407	38.986	39.712
2] Unsecured Loans		3.355	1.645	1.000
TOTAL BORROWING		40.762	40.631	40.712
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
Export Advance		2.890	1.247	1.492
TOTAL		64.209	60.693	56.235
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.227	6.109	4.312
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.010
DEFERREX TAX ASSETS		0.146	0.084	0.032
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	56.533	37.314	18.361
	Sundry Debtors	50.233	39.614	35.111
	Cash & Bank Balances	10.773	8.304	4.606
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.580	3.400	3.055
Total Current Assets		120.119	88.632	61.133
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	56.674	29.365	6.564
	Other Current Liabilities	4.753	3.920	2.042
	Provisions	1.856	0.860	0.673
Total Current Liabilities		63.283	34.145	9.279
Net Current Assets		56.836	54.487	51.854
MISCELLANEOUS EXPENSES		0.000	0.013	0.027
TOTAL		64.209	60.693	56.235

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	307.253	202.835	160.676
		Other Income
		TOTAL	307.253	202.835	160.676
Less	EXPENSES
		Office Expenses
		Administrative Expenses	303.951	199.700	158.129
		Advertising Expenses
		TOTAL	303.951	199.700	158.129
	PROFIT BEFORE TAX		3.302	3.135	2.547
Less	TAX		1.740	0.85	0.662
	PROFIT AFTER TAX (G-I)		1.562	2.285	1.885
	BALANCE CARRIED TO THE B/S		1.562	2.285	1.885
	EARNINGS IN FOREIGN CURRENCY
		FOB value of exports	61.881	93.609	82.543
	TOTAL EARNINGS		61.881	93.609	82.543
	IMPORTS
		Imports on CIF Basis	125.191	110.543	41.730
	TOTAL IMPORTS		125.191	110.543	41.730
	Earnings Per Share (Rs.)		14.93	23.22	24.74

Particulars	31.03.2011
Sales Turnover (Approxximately)	480.000

Expected Sales (2011-12) : Rs.500.000 Millions

The above information has been parted by Mr. Anurag.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.51	1.13	1.17
Return on Total Assets (PBT/Total Assets}	(%)	2.59	3.31	3.89
Return on Investment (ROI) (PBT/Networth)		0.16	0.17	0.18
Debt Equity Ratio (Total Liability/Networth)		5.06	3.97	3.56
Current Ratio (Current Asset/Current Liability)		1.89	2.59	6.58

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS :

(Rs. In Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors - Due to SSI/ MSM	0.000	0.000	0.000
Sundry Creditors - Due to Others	11.525	2.552	5.008
Sundry Creditors – FLC/Overseas	45.149	26.813	1.556
Total	56.674	29.365	6.564

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	--
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	No
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

Contingent Liabiities :

(Rs. In Millions)

Particulars	31.03.2010	31.03.2009
Corporate Guarantee given for credit facilities of Group concern M/s. A. K. Lumbers Limited	100.000	100.000

FORM 8

Corporate identity number of the company	U74899DL1990PTC042264
Name of the company	JINDAL WOOD PRODUCTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	92/4, WHS Block – 2, Kirti Nagar, New Delhi – 110015, India Email Id : padamdinesh@yahoo.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10186955
Type of charge	Movable property (not being pledge) Others Corporate Guarantee
Particular of charge holder	Oriental Bank of Commerce Limited, Mansarover Garden, New Delhi – 110015, India Email Id : bm0903@obc.co.in
Nature of instrument creating charge	Loan Doc – 11 Agreement of Guarantee
Date of instrument Creating the charge	09.09.2011
Amount secured by the charge	Rs.155.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest N. A. Terms of Repayment On Demand Margin N. A. Extent and operation of the charge N. A. Others N. A.
In case of acquisition of property, subjected to charge, furnish the details relating to the existing charge on the property so acquired (a) Date of instrument creating or evidencing the charge (b) Date of acquisition of the property (c) Amount of the charge (d) Particulars of the property charged	09.09.2011 09.09.2011 Rs.155.000 Millions Revenue Survey No. 237, Paiki situated at Village Chudva Gandhi Dham, Gujarat
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Corporate Guarantee in favour of Punjab Metal Works Private Limited Revenue Survey No. 237 Paiki situated at Village Chudva Gandhi dham, Gujarat
Date of instrument modifying the charge	04.03.2011
Particulars of the present modification	Corporate Guarantee in favour of Punjab Metal Works Private Limited enhanced by Rs.80.000 Millions i.e. from Rs.75.000 Millions to Rs.155.000 Millions

FIXED ASSETS

· Land and Building

· Building (GDM)

· Plant and Machinery

· Generator

· Hydraulic Crane

· Furniture

· Laptop

· New Car (Wagnor)

· Car Honda City

· Computer

· Office Equipment

· Electrical Installation

· Scooter

· Motorcycle

· Air Conditioner

· Printer

· Car Swift

· Car Altis

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.48.87
UK Pound	1	Rs.78.11
Euro	1	Rs.68.36

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		33

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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.