MIRA INFORM REPORT

Report Date :

17.04.2012

IDENTIFICATION DETAILS

Name :	FEROKE BOARDS LIMITED
Registered Office :	4/239, Feroke Via, Karad P O, Calicut – 673632, Kerala
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.07.1993
Com. Reg. No.:	09-007262
Capital Investment / Paid-up Capital :	Rs.44.223 Millions
CIN No.: [Company Identification No.]	U20213KL1993PLC007262
TAN No.: [Tax Deduction & Collection Account No.]	CHNF00402D
PAN No.: [Permanent Account No.]	AAACF3362K
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Plywood.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 770000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
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)
India	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 :	4/239, Feroke Via, Karad P O, Calicut – 673632, Kerala, India
Tel. No.:	91-483-2830597
Fax No.:	91--483-2830245
E-Mail :	ma.comsec@gmail.com
Website :	www.feroply.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Ashraf Mukkrinde Akam

Designation :

Managing director

Address :

M.A Villa, 28/463, Thondayad, Chevayur, P.O. Kozhikode – 673017

Date of Birth/Age :

01.04.1968

Date of Appointment :

11.11.2010

DIN No.:

00234466

Other Directorship :

S.No.	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
1	U21015KL1991PLC006320	FEROKE BOARDS LIMITED	Managing director	1/01/2010	20/09/1993	-	Amalgamated	NO
2	U51102KA2002PTC030444	FEROPLY WOOD PANELS PRIVATE LIMITED	Director	1/05/2002	1/05/2002	-	Strike off	NO
3	U20211KL1988PTC005044	FEROKE PLYWOODS PRIVATE LIMITED	Managing director	30/09/2002	30/09/2002	-	Amalgamated	NO
4	U51432KL2005PTC017884	WAGON EXIM PRIVATE LIMITED	Managing director	4/02/2005	4/02/2005	-	Active	NO
5	U91100MH2003PTC140810	INDIAN MOULDED PANEL SHUTTERS MANUFACTURERS ASSOCIATION	Director	17/10/2006	17/10/2006	-	Active	NO
6	U20213KL1993PLC007262	FEROKE BOARDS LIMITED	Managing director	31/12/2010	11/11/2010	-	Active	NO

Name :

Mr. Mohammed Musaliarakath

Designation :

Whole-time director

Address :

M. A. Villa, Chevayur P.O., Calicut – 673017, Kerala, India

Date of Birth/Age :

01.07.1930

Date of Appointment :

29.08.1997

DIN No.:

00235311

Other Directorship :

S.No.	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
1	U20211KL1988PTC005044	FEROKE PLYWOODS PRIVATE LIMITED	Director	28/04/1988	28/04/1988	-	Amalgamated	NO
2	U02001TZ1992PTC004095	SHANTI PLANTATIONS PRIVATE LIMITED	Managing director	4/11/1992	4/11/1992	-	Strike off	NO
3	U21015KL1991PLC006320	FEROKE BOARDS LIMITED	Director	19/12/1992	19/12/1992	-	Amalgamated	NO
4	U20213KL1993PLC007262	FEROKE BOARDS LIMITED	Whole-time director	11/11/2010	29/08/1997	-	Active	NO

Name :

Mr. Basheer Musaliarakath

Designation :

Whole-time director

Address :

M.A Villa, 28/463, Thondayad, Chevayur, P.O. Kozhikode – 673017

Date of Birth/Age :

11.11.1972

Date of Appointment :

11.11.2010

DIN No.:

00237165

Other Directorship :

S.No.	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
1	U20211KL1988PTC005044	FEROKE PLYWOODS PRIVATE LIMITED	Director	29/08/1997	29/08/1997	-	Amalgamated	NO
2	U21015KL1991PLC006320	FEROKE BOARDS LIMITED	Whole-time director	1/10/2008	28/03/2002	-	Amalgamated	NO
3	U20213KL1993PLC007262	FEROKE BOARDS LIMITED	Whole-time director	31/12/2010	11/11/2010	-	Active	NO

Name :

Mr. Pulikkal Veettil Abdul Wahab

Designation :

Director

Address :

Peevees Mirage, Nilambur, Malappuram, Malappuram – 679329

Date of Birth/Age :

01.07.1950

Date of Appointment :

11.11.2010

DIN No.:

00114617

Other Directorship :

S.No.	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
1	U70101TN1993PLC025581	PEE VEE HOLDINGS AND PROPERTY DEVELOPERS LIMITED	Director	15/11/1993	15/11/1993	-	Active	NO
2	U51496KL1994PTC008044	PEEVEES EXIM COMPANY PRIVATE LIMITED	Director	25/07/1994	25/07/1994	-	Active	NO
3	U70101KL1994PTC008019	PEEVEES PROJECTS PRIVATE LIMITED	Director	27/07/1994	27/07/1994	-	Active	NO
4	U85110TN1993PTC025889	PEEVEE MEDICAL FOUNDATION PRIVATE LIMITED	Director	1/02/1995	1/02/1995	-	Active	NO
5	U65993KL1996PTC010370	PEEVEES INVESTMENTS PRIVATE LIMITED	Director	13/05/1996	13/05/1996	-	Active	NO
6	U21015KL1991PLC006320	FEROKE BOARDS LIMITED	Director	28/09/1996	28/09/1996	-	Amalgamated	NO
7	U50102KL1984PTC004009	INDUS MOTOR COMPANY PRIVATE LIMITED	Managing director	15/03/2000	15/03/2000	-	Active	NO
8	U23201KL1994PLC007828	PEEVEES PETROLEUM PRODUCTS LIMITED	Director	17/07/2002	17/07/2002	31/03/2008	Active	NO
9	U45202TN1999PLC042775	SUPA PROPERTY DEVELOPERS LIMITED	Director	17/07/2002	17/07/2002	-	Active	NO
10	U22110KL1935PLC001523	MUSLIM PRINTING AND PUBLISHING COMPANY LIMITED	Director	10/10/2002	10/10/2002	-	Active	NO
11	U92199KL2002PTC015718	CAPITAL RETREAT PRIVATE LIMITED	Director	31/10/2002	31/10/2002	24/09/2009	Active	NO
12	U74910TN2006PTC060131	TRA-AUGMENT PEOPLE.SOLUTIONS PRIVATE LIMITED	Director	1/12/2006	1/12/2006	15/12/2008	Active	NO
13	U67110KL2009PLC025082	AL BARAKAH FINANCIAL SERVICES LIMITED	Director	30/11/2009	30/11/2009	-	Active	NO
14	U20213KL1993PLC007262	FEROKE BOARDS LIMITED	Director	31/12/2010	11/11/2010	-	Active	NO

Name :

Mr. Pulikkal Veettile Ali Mubarak

Designation :

Director

Address :

Peevees Mirage, Nilambur, Malappuram, Malappuram – 679329

Date of Birth/Age :

10.05.1968

Date of Appointment :

11.11.2010

DIN No.:

00119449

Other Directorship :

S.No.	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
1	U31908KL1993PTC007027	BRIDGEWAY CARBONS PRIVATE LIMITED	Director	11/03/1993	11/03/1993	-	Active	NO
2	U70101TN1993PLC025581	PEE VEE HOLDINGS AND PROPERTY DEVELOPERS LIMITED	Director	12/08/1993	12/08/1993	-	Active	NO
3	U70101KL1994PTC007777	SKYLINE PEEVEES PROPERTIES PRIVATE LIMITED	Director	17/03/1994	17/03/1994	-	Active	NO
4	U51496KL1994PTC008044	PEEVEES EXIM COMPANY PRIVATE LIMITED	Director	25/07/1994	25/07/1994	-	Active	NO
5	U50102KL1984PTC004009	INDUS MOTOR COMPANY PRIVATE LIMITED	Director	5/09/1994	5/09/1994	6/03/2012	Active	NO
6	U85110TN1993PTC025889	PEEVEE MEDICAL FOUNDATION PRIVATE LIMITED	Director	1/02/1995	1/02/1995	-	Active	NO
7	U65993KL1996PTC010370	PEEVEES INVESTMENTS PRIVATE LIMITED	Director	13/05/1996	13/05/1996	-	Active	NO
8	U01119KL1996PTC010371	PEEVEES PLANTATIONS PRIVATE LIMITED	Director	13/05/1996	13/05/1996	-	Active	NO
9	U20211KL1988PTC005044	FEROKE PLYWOODS PRIVATE LIMITED	Director	28/09/1996	28/09/1996	-	Amalgamated	NO
10	U01119KL1998PTC012173	ALI MUBARAK FARMS PRIVATE LIMITED	Director	26/03/1998	26/03/1998	-	Active	NO
11	U01119KL1998PTC012198	MUNEER FARMS PRIVATE LIMITED	Director	8/04/1998	8/04/1998	-	Active	NO
12	U01119KL1998PTC012209	WAHAB FARMS PRIVATE LIMITED	Director	16/04/1998	16/04/1998	-	Active	NO
13	U01119KL1998PTC012210	P V ALAVIKUTTY FARMS PRIVATE LIMITED	Director	16/04/1998	16/04/1998	-	Active	NO
14	U01119KL1998PTC012264	MARANTHAI PLANTATIONS PRIVATE LIMITED	Director	21/05/1998	21/05/1998	-	Active	NO
15	U01119KL1998PTC012263	PUDUR PLANTATIONS PRIVATE LIMITED	Director	21/05/1998	21/05/1998	-	Active	NO
16	U01119KL1998PTC012261	YASMIN PLANTATIONS PRIVATE LIMITED	Director	21/05/1998	21/05/1998	-	Active	NO
17	U01119KL1998PTC012309	FATHIMA FARMS PRIVATE LIMITED	Director	12/06/1998	12/06/1998	-	Active	NO
18	U16003KL1999PTC013070	RBM AGENCIES PRIVATE LIMITED	Director	8/06/1999	8/06/1999	-	Active	NO
19	U01119KL1942PLC001475	KURCHERMALA PLANTATIONS LIMITED	Director	10/06/1999	10/06/1999	-	Active	NO
20	U01131TN1999PTC043278	RAMEEZ PLANTATIONS PRIVATE LIMITED	Director	6/10/1999	6/10/1999	-	Active	NO
21	U01131TN1999PTC043285	ZAYAN PLANTATIONS PRIVATE LIMITED	Director	6/10/1999	6/10/1999	-	Active	NO
22	U01131TN1999PTC043280	SAFA PLANTATIONS PRIVATE LIMITED	Director	6/10/1999	6/10/1999	-	Active	NO
23	U01131TN1999PTC043282	HIBA PLANTATIONS PRIVATE LIMITED	Director	6/10/1999	6/10/1999	-	Active	NO
24	U01131TN1999PTC043279	JABER PLANTATIONS PRIVATE LIMITED	Director	6/10/1999	6/10/1999	-	Active	NO
25	U01131TN1999PTC043286	JAVED PLANTATIONS PRIVATE LIMITED	Director	6/10/1999	6/10/1999	-	Active	NO
26	U01131TN1999PTC043283	AJMAL PLANTATIONS PRIVATE LIMITED	Director	6/10/1999	6/10/1999	-	Active	NO
27	U01131TN1999PTC043281	AFDHAL PLANTATIONS PRIVATE LIMITED	Director	6/10/1999	6/10/1999	-	Active	NO
28	U23201KL1994PLC007828	PEEVEES PETROLEUM PRODUCTS LIMITED	Director	17/07/2002	17/07/2002	-	Active	NO
29	U27105KL1961PLC001951	WEST INDIA STEEL COMPANY LIMITED	Director	1/12/2003	1/12/2003	-	Active	NO
30	U51432KL2005PTC017884	WAGON EXIM PRIVATE LIMITED	Director	4/02/2005	4/02/2005	-	Active	NO
31	U32304DL2008PTC180671	DEN MALABAR CABLE VISION PRIVATE LIMITED	Director	28/09/2009	21/08/2008	-	Active	NO
32	U20213KL1993PLC007262	FEROKE BOARDS LIMITED	Director	31/12/2010	11/11/2010	-	Active	NO
33	U50100KL2011PTC028810	INDUS MOTORS LIGHT COMMERCIAL VEHICLES PRIVATE LIMITED	Managing director	23/07/2011	5/07/2011	-	Active	NO

Name :

Mr. Pulikkal Veettile Muneer

Designation :

Director

Address :

Peevees House, Nilambur, Malappuram District – 679329

Date of Birth/Age :

20.05.1966

Date of Appointment :

28.09.1996

DIN No.:

00120853

Other Directorship :

S.No.	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
1	U51496KL1994PTC008044	PEEVEES EXIM COMPANY PRIVATE LIMITED	Director	25/07/1994	25/07/1994	-	Active	NO
2	U70101TN1993PLC025581	PEE VEE HOLDINGS AND PROPERTY DEVELOPERS LIMITED	Director	2/01/1995	2/01/1995	-	Active	NO
3	U65993KL1996PTC010370	PEEVEES INVESTMENTS PRIVATE LIMITED	Director	13/05/1996	13/05/1996	-	Active	NO
4	U20213KL1993PLC007262	FEROKE BOARDS LIMITED	Director	28/09/1996	28/09/1996	-	Active	NO
5	U01119KL1998PTC012198	MUNEER FARMS PRIVATE LIMITED	Director	8/04/1998	8/04/1998	-	Active	NO
6	U01119KL1998PTC012210	P V ALAVIKUTTY FARMS PRIVATE LIMITED	Director	16/04/1998	16/04/1998	-	Active	NO
7	U50102KL1984PTC004009	INDUS MOTOR COMPANY PRIVATE LIMITED	Director	1/02/1999	1/02/1999	6/03/2012	Active	NO
8	U85110TN1993PTC025889	PEEVEE MEDICAL FOUNDATION PRIVATE LIMITED	Director	15/09/1999	15/09/1999	-	Active	NO
9	U31908KL1993PTC007027	BRIDGEWAY CARBONS PRIVATE LIMITED	Director	18/09/1999	18/09/1999	-	Active	NO
10	U70101KL2000PTC014189	ESEMEM PROPERTIES PRIVATE LIMITED	Director	5/09/2000	5/09/2000	-	Active	NO
11	U70101KL1994PTC007777	SKYLINE PEEVEES PROPERTIES PRIVATE LIMITED	Director	25/07/2005	25/07/2005	-	Active	NO
12	U23201KL1994PLC007828	PEEVEES PETROLEUM PRODUCTS LIMITED	Director	19/04/2007	19/04/2007	-	Active	NO
13	U50100KL2011PTC028810	INDUS MOTORS LIGHT COMMERCIAL VEHICLES PRIVATE LIMITED	Director	5/07/2011	5/07/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
M. A Rehena	180759
M. A. Ashraf	1101898
M. A. Basheer	667335
M. A. Shameena	180759
Abdul Wahab P. V.	588168
Yasmine	273124
Muneer P. V.	441888
Ali Mubarack P. V.	432794
M. A. Abdul Rahiman	11433
V. Mohammed Mukthar	5780
K.V. Ali, Vellerath	8670

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plywood.

Products :

PRODUCT DESCRIPTION	ITC CODE NO.
Marine Plywood	0441199.09
Block Board	0441213.09
Finger Joint Board	0442090.09

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Licensed Capacity	Installed Capacity	Actual Production
Plywood (4MM basis)	1673000 M2	468846 M2	8685.64
Block Board	3054000 M2	178161 M2	4560.02
Processed Rubber Wood	10600 M3	5624 M3	--
P. F. Resing (kg.)	N.A.	N.A	--
Flush Doors	100000 M2	100000 M2	40162.56
Treated Rubber wood/ Lumber Panel U F Resin (kg)	N.A	195575 M2	19924.02
Panel Door	200000 M2	200000 M2	135672.22

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Dhanalaxmi Bank, Ram Mohan Road, Kozhikode – 673004, Kerala, India

· HDFC Bank

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Dhanalakshmi Bank Limited (Term Loan-1)	0.000	1.856
Dhanalakshmi Bank Limited (Term Loan-2)	0.000	0.299
K.S.I.D.C (Term Loan)	0.000	0.484
Dhanalakshmi Bank Limited, CLT (Cash Credit)	38.721	38.101
Canara Bank (Vehicle Loan A/C No.11239)	0.000	0.390
HDFC Bank Limited (Truck Loan)	0.128	0.250
HDFC Bank Limited (Vehicle Loan A/C No 592)	0.113	0.211
HDFC Bank Limited (Vehicle Loan A/C No 0799)	0.279	0.407
HDFC Bank Limited (Vehicle Loan A/C No 4554)	0.278	0.406
HDFC Bank Limited (Vehicle Loan A/C No 9522)	0.160	0.227
HDFC Bank Limited (Vehicle Loan)	0.000	0.346
Total	39.679	42.977
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Directors	0.000	17.350
From Banks	0.000	4.674
From Share Holders	0.000	6.700
Total	0.000	28.724

Banking Relations :	--
Auditors :
Name :	Menon Narayan and Nedungadi Chartered Accountants
Address :	8/164 (F), Silk Street, Calicut – 673032, Kerala, India
Tel. No.:	91-483-2365698/ 4011789
E-Mail :	auditorsmnn@asianetindia.com
PAN.:	AAEFM0238J

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
4500000	Equity Shares	Rs.10/- each	Rs.45.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4422286	Equity Shares	Rs.10/- each	Rs.44.223 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		44.223	44.223	4.600
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		147.355	77.856	2.196
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		191.578	122.079	6.796
LOAN FUNDS
1] Secured Loans		39.679	42.977	0.000
2] Unsecured Loans		0.000	28.724	0.000
TOTAL BORROWING		39.679	71.701	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.196
TOTAL		231.257	193.780	6.992
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		132.258	128.959	1.491
Capital work-in-progress		3.118	1.872	0.000
INVESTMENT		20.641	0.778	0.005
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	48.361	61.888	0.000
	Sundry Debtors	37.039	24.361	1.546
	Cash & Bank Balances	3.710	2.358	0.097
	Other Current Assets	23.874	7.711	0.000
	Loans & Advances	32.798	4.858	3.856
Total Current Assets		145.782	101.176	5.499
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	25.422	29.878	0.000
	Other Current Liabilities	21.335	8.763	0.003
	Provisions	23.785	0.364	0.000
Total Current Liabilities		70.542	39.005	0.003
Net Current Assets		75.240	62.171	5.496
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		231.257	193.780	6.992

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	270.506	203.325	0.000
		Item Issued form Own use	0.867	0.145	0.000
		Other Income	160.093	1.605	0.000
		TOTAL (A)	431.466	205.075	0.000
Less	EXPENSES
		Stock Differential	16.140	(0.599)	0.000
		Raw Materials and Stores consumed	110.936	100.300	0.000
		Raw Materials Sold	67.552	33.360	0.000
		Goods Purchased for Trading	35.703	1.465	0.000
		Power and Fuel	6.131	7.826	0.000
		Repairs and Maintenance	3.320	2.618	0.000
		Selling and Distribution Expenses	12.815	6.295	0.000
		Personnel Costs	30.964	21.525	0.000
		Bank Charges	1.038	0.861	0.000
		Rent	1.425	1.178	0.000
		Administrative and Other Expenses	37.357	18.431	0.003
		TOTAL (B)	323.381	193.260	0.003
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		108.085	11.815	(0.003)
Less	FINANCIAL EXPENSES (D)		4.479	6.794	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		103.606	5.021	(0.003)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		10.322	10.301	0.169
	PROFIT BEFORE TAX (E-F) (G)		93.284	(5.280)	(0.172)
Less	TAX (H)		23.785	0.364	(0.030)
	PROFIT AFTER TAX (G-H) (I)		69.499	(5.644)	(0.142)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000	0.000	1.605
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD FROM PREVIOUS YEAR POST MERGER ACCOUNT		0.000	(3.662)	0.000
	BALANCE CARRIED TO THE B/S		69.499	(9.306)	1.463
	IMPORTS
		CIF Value basis	80.607	42.301	0.000
	TOTAL IMPORTS		80.607	42.301	0.000
	Earnings Per Share (Rs.)
	Basic		15.72	(122.71)	(3.09)
	Diluted		15.72	(1.28)	(3.09)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	16.11	2.75	0.00
Net Profit Margin (PBT/Sales)	(%)	34.48	2.59	0.00
Return on Total Assets (PBT/Total Assets}	(%)	33.55	2.29	2.46
Return on Investment (ROI) (PBT/Networth)		0.49	0.04	0.03
Debt Equity Ratio (Total Liability/Networth)		0.57	0.91	0.00
Current Ratio (Current Asset/Current Liability)		2.07	2.59	1833.00

LOCAL AGENCY FURTHER INFORMATION

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

REVIEW OF OPERATION

PRESENT STATUS

As per the scheme of amalgamation of FEROKE BOARDS LIMITED and FEROKE PLYWOOD PRIVATE LIMITED with FEROKE BOARDS AND DOORS PRIVATE LIMITED, the name of the transferee Company (FEROKE BOARDS AND BOARDS PRIVATE LIMITED) was altered and status converted and thereby named as FEROKE BOARDS LIMITED. The scheme became effective on 19-09-2010, the appointed date of the scheme being 1" April 2008. During the year the Company entered into a manufacturing and asset transfer agreement with MASONITE DOOHS PRIVATE LIMITED and Company entered another agreement to purchase two flats in Delhi for a consideration of Rs.17.500 Millions each.

During the year the Company has entered as a partner in the firm named NEW DIAMOND M SAND.

Bankers Charges Report as per Registry

Corporate identity number of the company	U20213KL1993PLC007262
Name of the company	FEROKE BOARDS LIMITED
Address of the registered office or of the principal place of business in India of the company	4/239, Feroke Via, Karad P O, Calicut-673632, Kerala, India Email : asa.acs@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90021089
Type of charge	Immovable Property Fixed Deposit Receipts
Particular of charge holder	Dhanalaxmi Bank, Ram Mohan Road, Kozhikode – 673004, Kerala, India Email : kozhikode@dhanbank.co.in
Nature of instrument creating charge	Letter of credit agreement Letter of lien for loan/overdraft against deposit/loan against NSC Confirmation letter from the mortgagaor
Date of instrument Creating the charge	24.02.2012
Amount secured by the charge	Rs.78.775 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC- Interest at the rate of BPLR with a minimum of 15.5% per annum with monthly rests LC AND BG –NA Terms of Repayment On demand Margin Not Applicable Extent and Operation of the charge The above charge operates as a security for the payment of interest and repayment of the principal
Short particulars of the property or asset(s) charged (including complete address and location of the property)	EM of 5.75 cents of land and building S.No. 162/1 at Vazhayur Village, Eranad Taluk Malappuram District. EM of 200 cents of land and building S.No. 982/1B2, R.S.No. 134/6, Block No.32 of Aluva Village, Ernakulam District. EM of 132 cents of land and building S.No.119/1,120/1,120/3 at Vazhayur Village, Eranad Taluk Malappuram District. EM of 296 cents of land with factory building S.Nos.119/1,119/2,119/4,115/5,120/3A,120/3B at Eranad Taluk Malappuram District. EM of 98 cents of land and building s.no.119/2,119/4,119/5,12/3b at Vazhayur Village, Eranad Taluk, Malappuram District. Lien on fixed deposits for Rs.3.244 Millions and Rs.0.500 Million
Date of instrument modifying the charge	29.06.2010
Particulars of the present modification	By virtue of the above modification, the loan limit was enhanced from Rs 68.775 Millions to Rs.78.775 Millions by increasing the LC limit from Rs.30.000 Millions to Rs 40.000 Millions

FIXED ASSETS

· Land

· Buildings

· Plant and Machinery

· Computer and Accessories

· Furniture and Fittings

· Motor Vehicle

· Trade Mark

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.51.66
UK Pound	1	Rs.81.80
Euro	1	Rs.67.18

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	4
--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	NO
--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	-

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.