MIRA
INFORM REPORT
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Report Date : |
22.11.2011 |
IDENTIFICATION DETAILS
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Name : |
EGWOOD BOARDS AND PANELS PRIVATE LIMITED |
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Registered
Office : |
6-3-679, 1st Floor, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.09.1994 |
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Com. Reg. No.: |
01- 018227 |
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Capital
Investment / Paid-up Capital : |
Rs. 33.000 Millions |
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CIN No.: [Company Identification
No.] |
U64110AP1994PTC018227 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Plywood’s i.e Boiling Water Proof Plywood,
Marine Retardant, Marine Plywood, Shuttering Plywood |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 172000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Ravikant |
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Designation : |
Account Department |
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Contact No.: |
91-40-23414571 |
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Date : |
19.11.2011 |
LOCATIONS
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Registered Office/ Corporate Office : |
6-3-679, 1st Floor, |
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Tel. No.: |
91-40-23414571/72/73 |
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Fax No.: |
91-40-23413419 |
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E-Mail : |
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Website: |
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Factory : |
K-6, Industrial Development Area, Uppal, |
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Tel. No.: |
91-40-27207134 / 35 / 36 / 37 |
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Fax No.: |
91-` 40-27207140 |
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E-Mail : |
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Warehouse : |
Midchel, |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Pramod Kumar Gupta |
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Designation : |
Managing Director |
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Address : |
3-5-784/ B and C, Musaddilal House, King koti, |
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Date of Birth/Age : |
05.12.1958 |
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Date of Appointment : |
01.09.1994 |
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DIN No.: |
01540159 |
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Other
Directorship:
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Name : |
Mr. Rohit Gupta |
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Designation : |
Whole Time Director |
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Address : |
3-5-784/ B and C, Musaddilal House, King koti, |
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Date of Birth/Age : |
23.03.1984 |
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Date of Appointment : |
11.08.2006 |
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DIN No.: |
01612877 |
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Other
Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Ravikant |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Pramod Kumar HUF |
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989997 |
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Pramod Kumar Gupta |
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297000 |
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Rohit Gupta |
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1320000 |
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Shobha Gupta |
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660000 |
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Shalini Gupta |
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33000 |
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Sudhir Vijay Wargi |
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1 |
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Saroj Vijay Wargi |
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1 |
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Rashmi Vijay Wargi |
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1 |
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TOTAL |
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3300000 |
As on 31.03.2011
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Names of Allotees |
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No. of Shares
Allotted |
|
Kruti Gupta |
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5000 |
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Musaddilal Projects Limited, |
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72000 |
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TOTAL |
|
77000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Plywood’s i.e Boiling Water Proof Plywood,
Marine Retardant, Marine Plywood, Shuttering Plywood |
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Imports : |
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Products : |
Plywood |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sekhar and Company Chartered Accountant |
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Address : |
133/4, |
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PAN.: |
ADOPA7064R |
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Subsidiaries : |
Egwood Industries Private Limited Cin No.: U36101AP1984PTC004450 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3300000 |
Equity Shares |
Rs.10/- each |
Rs. 33.000
Millions |
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Notes: of which 1500000 shares of Rs. 10/- each were
issued as bonus shares on 31.01.2009 capitalization of credit balance in profit
and loss account
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
33.000 |
33.000 |
17.971 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.010 |
4.736 |
16.013 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
43.010 |
37.736 |
33.984 |
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LOAN FUNDS |
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1] Secured Loans |
144.031 |
93.867 |
100.270 |
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2] Unsecured Loans |
11.711 |
6.934 |
20.629 |
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TOTAL BORROWING |
155.742 |
100.801 |
120.899 |
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DEFERRED TAX LIABILITIES |
2.076 |
0.402 |
0.560 |
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TOTAL |
200.828 |
138.939 |
155.443 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
41.678 |
24.200 |
26.097 |
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Capital work-in-progress |
29.608 |
2.660 |
0.000 |
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INVESTMENT |
0.150 |
26.400 |
26.400 |
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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 |
42.257
|
42.968 |
49.388 |
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Sundry Debtors |
90.056
|
46.143 |
41.872 |
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Cash & Bank Balances |
2.268
|
2.508 |
4.589 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
14.928
|
9.915 |
31.425 |
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Total
Current Assets |
149.509
|
101.534 |
127.274 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.199
|
4.040 |
14.593 |
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Other Current Liabilities |
2.276
|
0.876 |
1.438 |
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Provisions |
12.642
|
10.939 |
8.297 |
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Total
Current Liabilities |
20.117
|
15.855 |
24.328 |
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Net Current Assets |
129.392
|
85.679 |
102.946 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
200.828 |
138.939 |
155.443 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Gross Income |
229.108 |
218.264 |
189.240 |
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Less |
EXPENSES |
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Office Expenses |
NA |
NA |
NA |
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Administrative Expenses |
NA |
NA |
NA |
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Advertising Expenses |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
13.034 |
9.782 |
7.601 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
4.335 |
3.131 |
3.471 |
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PROFIT BEFORE
TAX |
8.699 |
6.651 |
4.130 |
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Less |
TAX |
3.223 |
3.499 |
1.908 |
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PROFIT AFTER TAX
|
5.476 |
3.152 |
2.222 |
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Earnings Per
Share (Rs.) |
1.66 |
0.95 |
0.67 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.55
|
5.29 |
2.69 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.18 |
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.09
|
3.09 |
4.27 |
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Current Ratio (Current Asset/Current Liability) |
|
7.43
|
6.40 |
5.23 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by Info Agents |
Available in Reports ( Yes/No) |
|
Yes |
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Yes |
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Yes |
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Yes |
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Yes |
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Yes |
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-- |
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Yes |
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Yes |
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Yes |
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Yes |
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No |
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No |
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Yes |
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No |
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No |
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No |
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No |
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Yes |
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Yes |
|
-- |
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-- |
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Yes |
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No |
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-- |
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-- |
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No |
|
-- |
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-- |
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-- |
PERFORMANCE OF THE YEAR
The directors would like to share with you on
the state of affairs on the last years over all performances.
FINANCIAL PERFORMANCE
During the year 2009-10, the company has reported
a turnover of Rs. 229.108 Millions. There is marginal increase in the turnover
and net profit. When compared to the previous year due to the reason that the
company put efforts to increase the profitability of the company.
The company is in the process of improving its
existing and processes and controlling various costs. During the year the
company has also increased its customer base in corporate segment.
FUTURE PLANS
There is good demand for plywood in future and
as per the market study it is expected that there is huge gap between supply
and demand. At present
During the last year the company has started
Compreg Plywood Manufacturing Projects. The sale of this product would be under
the brand name EGWOOD
The acceptability of their products by the
market if found extremely encouraging and they have established ourselves as
one of the leading vendors for supply of plywood suitable for building industry
likes:
a)
Larsen and Toubro Limited
b)
Reliance Industries
Limited
c)
Nagarjuna Construction
Company Limited
d)
IVRCL Infrastructure and
Project Limited
e)
K. Raheja IT parks
Private Limited
f)
Ramky Infrastrucature
Limited
g)
Lanco Infratecj Limited
h)
K Raheja Park Private
Limited
i)
Aparna Construction and
Estates Private Limited
j)
Navayuga Engineering
Company Limited
k)
India Projects Limited
l)
Shapoorji and Pallonji
Company Limited
EXPANSION PLANS AND DIVERSIFICATION
During the year the company has invested Rs.
51.374 Millions to increase its fixed assets base for the Compreg Plywood
Manufacturing Project.
FORM 8
|
Corporate
identity number of the company |
U64110AP1994PTC018227 |
|
Name of the
company |
EGWOOD BOARDS AND
PANELS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
6-3-679, 1st Floor, Email : rakhiagarwal79@yahoo.com |
|
This form is for |
Modification
of charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
State Bank of Email : maruthi.kondaiahgari@sbi.co.in |
|
Nature of
instrument creating charge |
letter of
arrangement dated 09.05.2011 Deed of guarantee
for overall limit dated 02.06.2011 |
|
Date of
instrument Creating the charge |
09.02.2011 |
|
Amount secured by
the charge |
Rs. 135.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
: As per the
arrangement letter Dated 09.05.2011 Terms of
Repayment : As per the
arrangement letter Dated 09.05.2011 Margin: As per the arrangement
letter Dated 09.05.2011 Extent and
operation of the charge: As per the
arrangement letter Dated 09.05.2011 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
As per the arrangement
letter Dated 09.05.2011 |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Vehicles
- Computer
- Office Equipment
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.51.72 |
|
|
1 |
Rs.81.42 |
|
Euro |
1 |
Rs.69.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|
|
>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.